The global fashion industry is valued at $3 trillion. This is 2% of the world’s Gross Domestic Product (GDP). Making this up is: The retail value of the luxury goods market is at $339.4 billion The value of the menswear industry at $402 billion The value of the womenswear industry at $621 billion The Bridal wear market at $57 billion Childrenswear market at $186 billion And Sports footwear market at $90.4 billion The figures above show clear proof of how valuable the fashion industry is and how much of an influence the industry is having on the world economically. While everything might look perfect in the industry, it doesn’t come without its challenges. For one, the problem of cost-effectiveness and pace is one challenge textile industry professionals point to. There is also the problem of a high cost of production, which makes it difficult for smaller brands to keep in the market, and compete favourably with the big international companies. These problems together with the advent of Web3 and blockchain technology has led to a solution being proffered. That solution is the MetaWear brand. MetaWear MetaWear is a fashion brand that is taking on the role of a playmaker in the transformation from traditional technologies to Web3 in the textile sector. This company is implementing unmatched new ideas and practices into the sector’s strategic purchasing, production quality control, design, marketing and sales by supporting the ind...
