In this article, we are going to present you with the top 5 best fashion and apparel stock to invest in, based on Insider Monkey’s latest article. According to Insider Monkey’s investigation, “The Apparel Industry consists of companies that design and sell clothing, footwear, and accessories.”
The coronavirus pandemic has made a large impact on the market since its appearance. Vast majority of the industries were enforced to lockdown and it caused large losses for them. Fashion an apparel are regarded to be non-essential, so this industry has felt the influence of the pandemic. According to Insider Monkey, US clothing and clothing accessories sales decreased by 50.5% in March 2020. As a response, the sector increased the use of e-commerce in order to regain its profits, and this effort was extremely successful.
Due to maximizing their e-commerce, fashion and apparel industry will go on with having positive growth even despite the pandemic. Nevertheless, investing in these stocks needs some experience as during recession consumers generally stop purchasing articles that are not essential.
Based on the data tracked by Insider Monkey, here you can find three of the best apparel stocks to buy. Capri Holdings Limited stands on the fifth spot with having 36 hedge funds and a total value of hedge fund holdings of $426 million. Ricky Sandler’s Eminence Capital is the top hedge fund holder having invested $133 million invested in the stock at the end of September. According to Insider Monkey, an insider recently purchased a 50,178 share at around $28 in August 2019. The stock is up 46% since then. Tapestry, Inc. with having 39 hedge funds and a total value of hedge fund holdings of $670 million. Ken Griffin’s Citadel Investment Group is the top hedge fund holder with having invested $118 million in the stock at the end of the third quarter of 2020. An insider bought 12,980 shares at about $15 in 2019, and since then the stock ha seen a 106% of growth. Tapestry is the first new work based house of modern luxury lifestyle brands. For more information about the best fashion and apparel stock to invest in, please click and jump ahead.