THE GAP

The Caribbean has abundant creative talent and cultural influence. The fashion industry generates economic activity across manufacturing, textiles, logistics, marketing, digital services, retail, tourism, and creative content, creating multiplier effects that extend well beyond apparel production. Yet, unlike sectors such as tourism or agriculture, the Caribbean lacks a longitudinal benchmarking system to assess the performance, commercial health, and competitiveness of its fashion ecosystem. Global industry reports, including The Business of Fashion and McKinsey’s The State of Fashion, offer valuable perspectives but do not address the operating realities of Caribbean fashion businesses.

THE INSTRUMENT

The Caribbean Fashion Business Index™ (CFBI) addresses this structural gap by establishing the region's first standardised market intelligence and benchmarking system for the fashion industry, designed to measure fashion-business performance across multiple Caribbean territories.

The CFBI is a composite index comprising six key areas and 24 indicators to support year-on-year comparisons. The four-territory pilot will test the framework, with findings independently reviewed before publication. It lays the groundwork for an annual index that deepens understanding of the conditions enabling Caribbean fashion businesses to survive, compete, and grow.

Through annual data collection and comparable regional indicators, the CFBI will provide an independent evidence base to strengthen policymaking, improve investment targeting, enhance enterprise competitiveness, support programme evaluation, and foster greater regional collaboration.