NAICS 315990 Quarterly Industry Report
Apparel Accessories and Other Apparel Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 315990Sector: 31Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 315990 provides business owners, acquirers, and financial advisors with data-driven valuation insights for the apparel accessories manufacturing sector, drawing on data from the U.S. Census Bureau[5] County Business Patterns and SBA[8] lending records. Additional data is drawn from Bureau of Labor Statistics[9].. The report aggregates transaction multiples, financial benchmarks, and market trends specific to NAICS 315990 establishments, supporting buy-sell agreements, succession planning, SBA-financed acquisitions, and litigation support engagements.
Industry Snapshot
Key metrics for the apparel accessories and other apparel manufacturing industry.
Industry Definition & Overview
Apparel Accessories and Other Apparel Manufacturing (NAICS 315990) encompasses establishments primarily engaged in manufacturing apparel accessories and apparel not classified elsewhere, including hats and caps, gloves and mittens, belts, neckties, scarves, garters, suspenders, and other apparel items. The industry spans a diverse range of product categories with varying production methods from hand-crafted leather goods to high-volume automated manufacturing of promotional headwear. According to the U.S. Census Bureau[5], the sector includes several hundred active domestic establishments, with significant concentration in headwear manufacturing driven by demand for branded promotional caps, team sports headwear, and military and industrial safety headgear.
Promotional and licensed headwear represents the largest domestic product segment, supported by demand from corporate branding programs, professional and collegiate sports licensing, and outdoor recreation markets. Leather belt and accessories manufacturing maintains a domestic presence through premium product positioning, while glove manufacturing serves both fashion and industrial safety markets. Per Bureau of Labor Statistics[6] data, production employment spans sewing machine operators, cutting specialists, embroidery machine operators, and heat-press technicians, with skill requirements varying by product category and production method.
The SBA Office of Advocacy[7] notes that small manufacturers dominate the sector, competing through quick-turn decoration capabilities for promotional products, custom design services, and specialization in niche product categories where domestic production offers quality and delivery advantages. Many establishments operate as both manufacturers and decorators, combining blank product sourcing with in-house embroidery, screen printing, and heat-transfer decoration to deliver finished branded accessories.
What's Included in This Industry
- Valuation multiples benchmarked to apparel accessories and headwear manufacturers
- Revenue and EBITDA trends for hat, glove, and accessories production operations
- SBA lending data and financing terms for NAICS 315990
- Comparable transaction data from recent apparel accessories manufacturer acquisitions
- Industry risk factors including import competition and fashion trend sensitivity
- Workforce composition and labor cost benchmarks for accessories manufacturing
- Regional market analysis covering domestic production clusters for various product types
- Equipment valuation data for embroidery, sewing, and decoration machinery
- Growth projections tied to promotional products, licensed merchandise, and e-commerce
- Owner compensation and discretionary earnings benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Apparel Manufacturing | 315 |
| Industry Group | Apparel Accessories and Other Apparel Manufacturing | 3159 |
| NAICS Industry | Apparel Accessories and Other Apparel Manufacturing | 31599 |
| National Industry | Apparel Accessories and Other Apparel Manufacturing | 315990 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 315250 | Cut and Sew Apparel Manufacturing (except Contractors) | Cut and sew apparel manufacturers producing garments that are complemented by accessories from NAICS 315990 producers in coordinated product lines |
| 316990 | Other Leather and Allied Product Manufacturing | Other leather and allied product manufacturers producing leather accessories including wallets, handbags, and small leather goods alongside apparel accessories |
| 314910 | Textile Bag and Canvas Mills | Textile bag and canvas mills producing fabric bags and carrying cases that overlap with apparel accessories in promotional and branded merchandise markets |
| 313220 | Narrow Fabric Mills and Schiffli Machine Embroidery | Narrow fabric mills producing ribbons, trims, and woven labels used as components in hat, belt, and accessories manufacturing operations |
| 423910 | Sporting and Recreational Goods and Supplies Merchant Wholesalers | Sporting and recreational goods wholesalers distributing branded headwear and athletic accessories produced by domestic manufacturers |
| 424310 | Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers | Piece goods and notions merchant wholesalers supplying fabrics, trims, and decorative materials used in apparel accessories production |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 21.0% | 146 |
| 2 | New York | 10.1% | 70 |
| 3 | Florida | 8.6% | 60 |
| 4 | Texas | 6.8% | 47 |
| 5 | Pennsylvania | 4.0% | 28 |
| 6 | Michigan | 3.3% | 23 |
| 7 | North Carolina | 3.2% | 22 |
| 8 | Illinois | 3.2% | 22 |
| 9 | New Jersey | 3.2% | 22 |
| 10 | Ohio | 3.0% | 21 |
% Of Establishments
0%
21%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
800
Total SBA Loans
$316.1M
Total Loan Volume
$395K
Average Loan Size
10 yrs
Average Loan Term
10.80%
Average Interest Rate
7,680
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Apparel accessories manufacturers seeking SBA financing typically qualify under the SBA size standards[10] for NAICS 315990, which set the threshold at 500 employees for small business classification. The SBA 7(a) loan program[11] provides up to $5 million for business acquisitions, embroidery and decoration equipment, and working capital for inventory and materials. Many CDC/504 loan program[12] offers long-term fixed-rate financing for manufacturing facility improvements, multi-head embroidery machine installations, and production line automation. Lenders evaluate customer concentration across promotional, retail, and institutional accounts and seasonal revenue patterns when underwriting transactions.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 208 | $66.1M | $318K |
| 2 | Enterprise Bank | 16 | $48.0M | $3.0M |
| 3 | Old National Bank | 32 | $37.3M | $1.2M |
| 4 | Celtic Bank Corporation | 64 | $37.1M | $580K |
| 5 | Cadence Bank | 16 | $24.7M | $1.5M |
Frequently Asked Questions
Common questions about this industry.
What is the typical valuation multiple for an apparel accessories manufacturer?
Apparel accessories manufacturers typically trade at 3x to 6x EBITDA, with operations focused on branded promotional headwear and licensed merchandise commanding premium valuations due to recurring customer relationships. Businesses with multi-head embroidery capabilities and established sports licensing agreements can achieve higher multiples. Per U.S. Census Bureau[5] data, customer diversification across promotional, retail, and institutional channels supports stronger transaction pricing.
What SBA loan options are available for acquiring an accessories manufacturer?
The SBA 7(a) loan program[11] provides up to $5 million for business acquisitions and equipment purchases, while the CDC/504 program[12] finances facility improvements and embroidery equipment installations. Lenders review licensing agreements, customer concentration, seasonal revenue patterns, and equipment condition during due diligence.
What equipment is needed for apparel accessories manufacturing?
Equipment varies by product type: headwear operations require cap sewing machines, multi-head embroidery machines, and heat-press equipment. Belt manufacturing uses leather cutting, stitching, and buckle attachment machinery. Per SBA[8] lending data, multi-head embroidery machines capable of producing decorated headwear represent a major capital investment ranging from $30,000 to $200,000 per machine depending on head count and features.
How does sports licensing affect accessories manufacturing businesses?
Licensed headwear and accessories programs from professional and collegiate sports leagues provide recurring revenue streams through official licensee agreements. Manufacturers must meet quality standards, pay royalty fees typically ranging 10-15% of wholesale revenue, and comply with league branding guidelines. Per U.S. Census Bureau[5] data, licensed merchandise manufacturing supports premium pricing and retail placement for authorized producers.
What are the main revenue drivers for accessories manufacturers?
Revenue depends on product mix between manufactured goods and decorated products, customer diversification across promotional, retail, and institutional channels, speed of order fulfillment, and decoration capabilities including embroidery, screen printing, and heat transfer. Quick-turn promotional orders with corporate branding typically generate higher margins than commodity blank product manufacturing.
How does import competition affect domestic accessories manufacturers?
Imported blank headwear and accessories from low-cost countries capture the majority of commodity product volume, though domestic manufacturers compete through value-added decoration services, quick-turn delivery, and small minimum order quantities. Per Bureau of Labor Statistics[6] data, many domestic operations function as decorators of imported blanks rather than complete manufacturers, reducing direct competition with offshore production.
What growth opportunities exist for accessories manufacturers?
Growth opportunities include expansion of corporate branded merchandise programs, e-commerce platforms enabling direct-to-consumer sales of customized accessories, sustainable and domestically produced fashion accessories, and industrial safety headwear and glove markets. Online customization platforms allowing consumers to design personalized headwear and accessories represent a growing channel.
What workforce challenges do accessories manufacturers face?
Key challenges include recruiting embroidery machine operators and technicians capable of programming multi-head equipment, training sewing operators for specialized accessories construction, and retaining skilled workers during seasonal production fluctuations. The promotional products segment experiences peak demand during spring corporate event season and fall sports seasons, creating workforce scheduling challenges.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Office of Advocacy advocacy.sba.gov
- [8]SBA sba.gov
- [9]Bureau of Labor Statistics bls.gov
- [10]SBA size standards sba.gov
- [11]SBA 7(a) loan program sba.gov
- [12]CDC/504 loan program sba.gov
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