By: Nyshka Chandran
Muslims account for over 20 percent of the global population but despite their growing spending power, studies reveal that businesses are failing to tap into one key aspect of the Islamic economy: fashion.
“Alongside a thriving Islamic economy, there is growing demand for Islamic fashion apparel. Unfortunately, offerings have been limited, and there is no single Islamic brand catering to the fashion needs of the Muslim population globally. Thus, there is an opportunity for modern Islamic fashion brands to be showcased,” said Karen Van Diesen, market research analyst at Euromonitor in a recent note.