I think it depends on what you mean by the Apparel Industry- what part, where?
We're a small retailer who sells uniforms. We've done a customization to link a "parent" item to a "child" item to track the size/color combinations.
The problem for us with variants is you can't attach attributes and options. We frequently get a request at our store to see something like a black, 8" high, side zipper boot in 10 1/2 wide that is in stock.
With attributes, you can filter all that and see. If all colors and sizes were variants, not so much.
If you need seasons, pre-orders, etc, I think Pebblestone and LS Retail are worth looking at.