With the global apparel market set to witness a substantial 11% revenue growth over the next four years, aspiring entrepreneurs are increasingly eyeing the fashion industry. To shed light on the most promising locations, JOOR, a wholesale expert company, conducted a comprehensive study evaluating several key factors, including country population, import and export figures, apparel market valuation, and the presence of 'unicorn companies' in the consumer and retail market. Unicorns are privately held startup companies valued at over $1 billion.

The study reveals that the United States ranks as the number one destination for fashion startups, boasting a high score of 9.27 out of 10. The "land of opportunity" houses unicorn startups valued at a staggering $223 billion, instilling hope in new entrepreneurs. Moreover, the export/import ratio of 6.99 indicates a flourishing market with a surplus of materials. The US apparel market also demonstrates a steady annual growth rate of 2.7%.

Securing the second position on the list is the United Kingdom, scoring 8.61. While the UK exhibits a higher annual growth rate in the apparel market (3%), the valuation of unicorn startups in the consumer and retail space is comparatively lower, standing at $4.4 billion. The country's export/import ratio of 5.57 further signals a thriving market.

Canada ranks third as an attractive location for fashion startups, earning a score of 8.48 out of 10. With unicorn startups valued at $12.4 billion and an annual apparel market growth rate of 3.5%, Canada offers a stable environment for fashion entrepreneurs. Additionally, the country maintains a healthy export/import ratio of 6.69.

Germany secures the fourth spot, with a score of 7.93 out of 10. The valuation of consumer and retail unicorn startups in Germany is an impressive $14.5 billion. Furthermore, the country's export/import ratio of 2.08 signifies favorable market conditions. Germany's apparel market demonstrates a steady annual growth rate of 2.20%.

China claims the fifth position as an appealing destination for fashion startups, scoring 7.88 out of 10. With unicorn startups valued at a massive $239 billion, China leads the pack in this category. Moreover, the country's apparel market boasts an astounding annual growth rate of 6.30%. However, the low export/import ratio of 0.12 poses a potential challenge for businesses.

 By Fashionating World
https://www.fashionatingworld.com/new1-2/united-states-tops-fashion-startup-rankings-with-223-billion-unicorn-valuations