Date(s) - 04/11/2019 - 12/30/2019
While Muslims in many parts of Europe and the United States indicate that these are the worst of times with regards xenophobia, in the fashion industry it is quite the opposite. Specifically, it is ideal to note that the hijab has been openly celebrated in the last few years. This is as young Islamic fashion lovers strive to come up with the latest trends while maintaining their culture. As such, this industry is ripe for business, and any investor to venture into the market would reap big.
A noticeable trend is hijab chic. This refers to young Muslim female fashion lovers that want to dress in alignment with the 21st century by shedding the guilt. In this, they are transforming the traditional headscarf into colorful hijabs that match with other outfits. This has been backed up by numerous groups, and it is hoped to change the western perception of the hijab as a symbol of oppression.
Besides, manybrands such as Amanis are already taking over the opportunities in this industry. This has seen numerous Islamic fashion models come into the limelight where they showcase different collections. It is therefore clear that this sub-niche of the fashion industry is bound to boom both in the short and long runs.
Other stakeholders have stated that numerous controversies that have traditionally revolved around Muslim wear have derailed this industry. Besides, numerous initiatives of politicization of the Muslim identity have made global stakeholders miss such business opportunities. Another positive thing is that in the wake of the 911, numerous businesses were started by Muslims in the fashion industry to cater to the ever-growing young population.
Over time, big names in the fashion industry have caught up. A similar trend can be observed in the finance sector where there were only traditional Islamic financial institutions. However, over time, we have witnessed center stage players getting into the sub-niche and offering consumers customized products that are guided by sharia laws.
The trend could be described as being instigated by generation M which is much of the young Muslims. As such, market transformations in all sectors are to be expected and rampant growth will accompany this. For instance, by 2021, the Islamic fashion market is expected to hit $368 billion as in 2021. At the same time, note that criticism from more conservative groups could hinder this growth. Hopefully, the hijab chic will march on and help in changing the western perceptions of Muslims.
From the above, it is clear that the Islamic fashion industry is getting to its peak. This is a perfect opportunity by investors, entrepreneurs or even big names to venture into this market. It can be a source of competitive advantage in the ever dynamic world.