At the recent Indonesia Sharia Economic Festival (ISEF) 2020’s virtual fashion show, Bank Indonesia deputy governor Rosmaya Hadi said the “modest fashion” industry, which comprises designers from Muslim-majority markets, such as the Middle East, Turkey and Indonesia, is also seeing a rising interest from non-Muslim labels.
Hadi added that Western labels are also trying to gain a share of the market to take advantage of the market’s high value: from US$283bn in 2018 and projected to grow to US$402bn by 2024.
For the full story, see the February 2021 edition of Textiles South East Asia.