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The global clothing and clothing accessories stores market is expected to hit $1.2 trillion in 2021, registering a 7.8% CAGR. With more than 5.48 billion COVID-19 vaccine doses administered across 182 countries so far, consumers are expected to be increasingly inclined to shop at brick-and-mortar retail stores. In addition, shifting preferences regarding branded and customized products, and the continuous launch of new fashions supported by aggressive branding, should continue to fuel the industry’s growth.
Given a strong digital presence and established brick-and-mortar chains, apparel companies Ralph Lauren Corporation (NYSE:RL) and Guess’, Inc. (NYSE:GES) should benefit from industry tailwinds. Shares of these two companies are rated B (Buy) in our proprietary POWR Ratings system.
