11/9/2010

Economic Analyisis of Fashion Retail - W…
Economic Analyisis of Fashion Retail

1 NATURE OF MARKET
Fashion retail is typically a consumer goods market. It is characterized by very short product life, fickle consumer preferences, numerous competitors, relatively easy entry and exit, and a myriad of manufacturing, marketing and retail alternatives (Richardson, 1996). Over here, we will mainly make references to U.S and Europe where the fashion capitals - New York, Milan, London and Paris - resides. One of the reasons for their leading role in the apparel sector is that they are able to acquire information on future trends in colour, theme and styles in advance, preparing their own collections by combining and interpreting such information with market data (Aktuglu, 2001).

1.1 Products being sold
Products being sold can be divided into three distinct categories - couture, ready-to-wear (RTW) and mass production.

1.1.1 Couture Wear
Couture wears are exclusively tailored by in-house designers and are produced in limited numbers of expensive, high quality garments. Couture houses are organised according to long-established principles, with the couturier (or designer) providing an identity and direction, supported by assistant designers and a premier de l'atelier (head of the work room). Couture houses are regulated by national organisations which ensure that members meet stringent design, manufacturing and commercial regulations.These regulations make couture garments affordable by very few consumers (Wigley, 2004).

Figure 1: (from left to right) Alexis Mabille, Chanel, Valentino and Christian Dior (Photos courtesy of [style.com] )

1.1.2 Ready-to-Wear (RTW)
As such, to be commercially sustainable, the fashion industry provides less wealthy consumers with cheaper garments. The antecedents of this RTW industry are in eighteenth century second-hand clothes dealers who stocked unwanted samples from tailors and dressmakers. Thereafter, manufacturers were making garments to be specifically sold in such outlets, facilitated by their new ability to produce relatively cheap and high quality garments. RTW acquired greater significance during the 1960's and afterward as the division between it and couture became blurred. Designers were able produced garments which were distinctive and cutting-edge while remaining relatively affordable (Wigley, 2004).

Figure 2: (from top left) Emporio Armani, Diesel Black Gold, Calvin Klien, Ralph Lauren, D&G, Marc Jacobs, Tommy Hilfiger and Hugo. (Photos courtesy of [Style.com] and [GQ.com] )

1.1.3 Mass Production
Mass production of clothing was pioneered during the early twentieth century. The process of manufacturing a large number of garments involves fabric testing, pattern cutting, sizing, and assembly. Today, this process is often computerised, using design software to plan the process and automatic machinery to carry it out. Typically, independent companies undertake mass production on behalf of the

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Since retailers are clueless about consumers' preferences. and Banana Republic (premium).chain size.3 Price and Consumers Consumers also use price as an indicator of product quality because they believe market prices are determined by the forces of competitive supply and demand. where Levi's Signature in in the economy tier. chain stores. fashion merchandise offered at the departmental store might not be found at outlet stores simultaneously.3 Price Determination Pricing strategies are determined by: market factors . Although Gap.2 Mass Market Theory The mass production combined with mass communications make new styles and information about new styles available simultaneously to all socioeconomic classes. middle market or premium.. Topshop. In terms of pricing. urban.market and city characteristics (metropolitan. storability. within-season and clearance sales. Zara.3. product type.consumer sensitivity to price changes (Shankar & Bolton.com] ) Products being sold are women's fashion clothing and accessories.11/9/2010 Economic Analyisis of Fashion Retail . only savvy consumers will be aware of these differences. Printemps.3. it is a specialty retailer. Inc. category factors . That is. prior to the purchase. Gap (middle). U.1 Price Tiers Prices can also be determined by price tiers. positioning.sg/…/Economic+Analyisis+of… 2/19 .brand equity or preference. Europe: Marks and Spencer.4. whether they are in the economy.(Pashigian. (Sproles. 2004). boutiques. When the consumer can’t readily see other differences in two identical garments. Nordstrom. On the other hand. However. price is easier to compare as opposed to the quality features and durability of the garments. Once consumers' choices are known. pattern and consumers' preferences. targeting three specific price and consumer markets through diverse retail formats: Old Navy (economy). 1981) 1. Product specific prices are determined by perceived value and their price. Tommy Hilfiger outlet shirts bore a crest while those from the departmental store had a flag. …nus. The phenomenon of clearance sales is much more prominent and it arises from the unpredictability of style. Consumers use price as a cue to quality because it is visible and known.Target. Inc. H&M). Inc. A study conducted by Fowler & Clodfelter (2001) compared the garments sold at outlet and departmental store and found that there were only minor differences in their outward appearance as well as the materials used. apparels sell out fast when consumer reservation prices exceed the initial price. garments sold at the outlet store were about 30% lower than in the departmental store since no middleman is involved.S: Bloomingdale's. sales can be categorized into 3 types: pre-season. For instance.edu. Red Tab is in the middle tier and Levi's Premium is in the premium tier (Author.W… Figure 3: Images of shops of popular brands such as Forever 21. Fashion diffusion has the opportunity to begin essentially the same time within each class. (Shankar and Bolton. Taking Gap.store size. 1. relative trade deals and customer factors . brand factors . the store than picks an optimal markdown price. and life stages (Gap. To differentiate garments sold at the outlet store from the departmental store. Ralph Lauren outlet shirts have a cream-coloured dot woven into the label.g. category assortment. color. small city. Despite the variations. extent of necessity. 1988) 1. for example. 2004). all are distinctly positioned and priced based on a price tier. women's standard or non-fashion items. The number of tiers is either market or product specific. who enacts a three-tier price strategy.1 Trickle Down Theory The upper class in a society is the leader of new fashion (Law. 2004). only basic merchandises are. Retail formats are characterized by price point. retailers are specialty apparel and accessory retailers.2 Retail Venues All these are sold in departmental stores (E. if the consumers' reservation prices below the initial price. Zhang and Leung.3. both labels were slightly different.size assortment. suburban. Another example would be Levi's. 1. 2001). store factors . Fashion that is adopted by the upper class will soon be imitated by each succeeding lower class until they have "trickled-down" to the lowest class (Sproles. 2004). 1.2 Theory of Clearance Sales According to the Theory of Clearance Sales. H&M and Mango (Photos courtesy of [style. with regards to corporate mission and policies.4. the apparels are offered in the first period at an initial price. Market specific prices can be placed on 3 different levels: national brand. price is the vital piece of information available for use in evaluating quality (Fowler & Clodfelter. positioning. They assume that a garment with a high price meets high quality standards and vice versa. Wal-Mart. chain factors . 2005) 1. outlet stores and malls. men's apparel and accessories as well as teens' and junior clothing and accessories.4 Searching and Matching Buyers and sellers find each other through a number of ways: 1. relative brand advertising. 1. store brand and generic brand.

In reality. some of the brands selling similar products. Paris. it may seem like there are many fashion brands competing with one another. Milan and New York. PPR and Richemont.sg/…/Economic+Analyisis+of… 3/19 .11/9/2010 2.164 Year 2008 3. also known as LVMH Moët Hennessy Louis Vuitton. both of which are luxury fashion brands.481 Source:LVMH Annual Report 2009 (accessed on 8 April 2010) Table 2: Table of brands from various sectors under LVMH — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Moët et Chandon Dom Pérignon Krug Château d'Yquem Glenmorangie Belvedere Vodka Chopin vodka Hennessy Domaine Chandon California Louis Vuitton Fendi Donna Karan Loewe Marc Jacobs Kenzo Givenchy Thomas Pink Pucci Berluti Stefanobi Rossimoda Celine Parfums Christian Dior Guerlain Parfums Givenchy Parfums Kenzo Benefit Make Up For Ever Acqua di Parma Parfums Loewe TAG Heuer Hublot Zenith Chaumet Dior Watches Fred De Beers DFS Miami Cruiseline Sephora Le Bon Marche Wines and Spirits Fashion and Leather Goods Perf umes and Cosmetics Watches and Jew ellery Selective Retailing Source: LVMH Annual Report 2009 (accessed on 8 April 2010) …nus.193 Year 2009 2. home to around 60 luxury brands in various sectors such as fashion and leather goods.628 2. Table 1: Table of revenue generated by various sectors of LVMH from Year 2007 to Year 2009 Millions of Euros Wines and Spirits Fashion and Leather Goods Perfumes and Cosmetics Watches and Jewellery Selective Retailing Year 2007 3.731 833 4.226 5.376 (66) 17.edu. For example.741 764 4. London. LVMH. wine and spirits. The various luxurious brands owned by this French holding company are listed in Table 2.2. On the surface. In the global luxury fashion retail market.740 6. possess power to decide and influence the rest of the fashion market.1 LVMH LVMH.053 Other activities and eliminations (101) Total 16. Each market has varying market makers.1 The Retail Industry Economic Analyisis of Fashion Retail .126 6. perfumes and cosmetics as well as watches and jewellery. 2. Also. A tabulation of the amount of revenue generated by each business group within the large conglomerate is shown in Table 1 below.868 879 4. there are mainly three large fashion conglomerates competing with one another: LVMH.302 2. namely the interactions among fashion companies and the interaction between fashion companies and the consumer. is one of the world’s largest luxury-goods company. They can be considered the market makers of the fashion retail market as they each own a substantial number of luxurious brands in the market and thus. defined by a few large powerful actors responsible for shaping market institutions.010 2.2 The Market Makers A myriad of factors define the fashion retail market. are actually owned by the same fashion company.W… This wiki page is focused on the fashion retail markets in US as well as Europe as those places are where the fashion capitals are found namely. owns Louis Vuitton and Fendi. 2.533 (27) 17. the french holding conglomerate.

11/9/2010 Economic Analyisis of Fashion Retail . the market price is in fact also determined by consumers. Alexander McQueen.657 1. 2. €3. The following piechart obtained from PPR's official website itself reveals the breakdown of revenue by brand in year 2009: Figure 4: Piechart of break down of revenue by brand of Gucci Group of PPR in year 2009 Source: PPR official website (accessed on 8 April 2010) 2.437 587 294 338 5. fashion trends are forecasted by analysing results of consumer's emotions towards the previous trend. (J. trailing behind LVMH and PPR. (H. Lancel.290 Year 2009 2. Bottega Veneta and Yves Saint Laurent pave the way for younger brands such as Balenciaga. Brands such as Dunhill. In year 2009. with five key areas: jewellery. According to basic economic theory.827 Year 2008 2.S Cho et. PPR Annual Report 2008 and PPR Official Website (accessed 8 April 2010) Gucci Group is the luxury good subsidary.sg/…/Economic+Analyisis+of… 4/19 . The following shows the amount of sales generated by various maisons of Richemont.W… Source: PPR Annual Report 2007 . Table 4: Table of sales generated by various maisons of Richemont from year 2007 to year 2009 Millions of Euros Jewellery Specialist Watchmakers Writing Instruments Leather and Accessories Fashion and Accessories Total Year 2007 2.edu.3 Richemont Richemont is a Swiss luxury goods company founded in 1988.435 1.762 1. leather and accessories. a portion of its revenue is generated from fashion and accessories as well. Muth. Boucheron and Sergio Rossi.418 Source: Richemont Annual Report 2009 (accessed on 8 April 2010) Table 5: Table of brands from various maisons under Richemont Jew ellery Cartier Van Cleef & Arpels Specialist Watchmakers Piaget A. watches. Lange & Sohne Jaeger-LeCoultre Vacheron Constantin Officine Panerai International Watch Co.4 Consumers The retailers seem to have the most power in defining the market as they possess the power to market goods at prices desirable to them.378 625 309 321 5.2. However. however. whereby global fashion brands such as Gucci.2. and clothing. …nus. Chloe and Shanghai Tang are the more famous fashion brands with outlets available in many parts of the world. Stella McCartney.203 585 307 297 4. writing instruments. F. Schaffhausen (IWC Schaffhausen) Baume & Mercier Manufacture Roger Dubuis Ralph Lauren Timepieces Writing Instruments Montblanc Leather and Accessories Dunhill (London) Lancel (Paris) Fashion and Accessories Chloe Alaia (Paris) Shanghai Tang Purdey Source: Richemont Annual Report 2009 (accessed on 8 April 2010) Almost half of Richemont's main revenue stems from the sales of specialised watchmaking.390 million of revenue was generated by the Gucci Group. 1961) Especially for the fashion retail market. It is the third largest luxury good international conglomerate. the price of a good is determined by the demand by consumers and supply of the good by the producers in the economy.

namely Paris. 2008) These centralised fashion shows are meant to showcase the new collection to the press. M. (British Fashion Council.com ) 2. branding represents “a consistency of quality and meaning associated with a designer’s collections that will carry over from year to year”.edu.11/9/2010 Economic Analyisis of Fashion Retail . R. (N. GAP and Banana Republic. the former being the classic design while the latter being …nus. will be modelled down a runway at fashion shows typically held at fashion hubs around the world to showcase the new collection. which will subsequently be disseminated to the public through the media. M. what the trend for the next season will be. Thus. 2010 (Photo tak en from Coutorture. Rantisi. (Photo courtesy of Gap Inc. but also the prestige attached to the luxury brand. nearly half a year ahead. thus setting fashion trends and fashion statements through such avenues. most Louis Vuitton fashion accessories like their handbags and purses would carry its logo.W… Figure 5: Photo collage of retail stores of two brands. Rantisi. Despite changes in design from one season to the next.3 Branding and Advertising According to John Durrel (1998). which represents not only the brand. (N. 2001) For example.2 Extrapolating the trend Companies have a group of designers to plan. Smith. many fashion companies in the industry use advertising to appeal to selective rather than primary buying motives. London. Fashion pieces designed. 1956) Figure 7: Photo collage of two different designs of Louis Vuitton accessories.3.sg/…/Economic+Analyisis+of… 5/19 . Milan and New York. 2001) Figure 6 : A photo collage of Gucci Spring Fashion Week in Milan. both owned by Gap Inc. (W. these changes in fact reinforce the particular company’s image. The biggest fashion weeks are held regularly according to the seasons in the top fashion capitals in the world. ) 2.3.

Puma and United Colours of Benetton set up factory outlets in India to suit economic needs of priceconscious consumers by selling their goods at lower prices. fashion magazines and even fashion websites. At fashion shows held around the world in fashion hubs. it can be seen that media plays an important role in promoting one's fashion brand or company.5 Horizontal Integration One of the methods of competing with other fashion companies would either be to cooperate with them and form an alliance. China. Mexico. the pop music icon to be featured on their advertisments together with their products. In the past. United Kingdom. 2009) Figure 9: Two Louis Vuitton advertisements featuring Madonna from LV/s Spring/Summer Collection 2009 (Photos courtesy of Cyana. through endoresements and advertisments.sg/…/Economic+Analyisis+of… 6/19 . a process known as acquisition.tv ) 2. in 2007. forcing them to attend the London Court where they had to compete with equals. in 2009 for their spring/summer collection. Fashion companies also collaborate with media artistes to enhance its brand image.3. entering the luxury goods sector. distribution and retail together. 2010) 2.3. Through newspapers. even if it was past the season. (LVMH. Austria. Netherlands. commodities were chosen because of their ability to appreciate in value as time passed …nus. Canada. the new season's fashion trend is being broadcasted to millions of people theough these media. Italy.6 Media One of the most powerful tool to enhance its brand image and raise awareness of one's fashion brand is through mass media. Ireland. Switzerland.3. the fashion conglomerate acquired 62. at a lower price.edu. Israel. 2. 2008) 3 EFFECTS OF FASHION ON CONSUMERS AND CONSUMPTION The consumption of fashion can be traced all the way back to the 16thand 17th Century Europe and took off amongst the European nobility.7 Factory Outlets Usually. Sweden. one of the largest apparel wholesalers in the United States. France. PPR has slowly acquired more of the shares such that it currently holds 99. For example.One good example would be PPR. There is an increasing trend of companies to use this method to raise awareness of their brands as consumers nowadays would not mind obtaining a branded good. Korea. (Chaudhary. or to take over smaller firms. all of it is owned by American Apparel. with every step of the process done in-house and not replying on outsourcing. For example. Brazil and Australia.com. to television channels dedicated only to fashion such as FTV. one of the world leader in sports lifestyle. Since then.com ) One good example to illustrate this point is American Apparel. PPR bought over 42% of the Gucci group.11/9/2010 Economic Analyisis of Fashion Retail . (Photo courtesy of Foxnews. one of the fashion conglomerates in the fashion retail market.1% stake in Puma. brands like Tommy Hilfilger. the press is present to document the release of the newest collection from various fashion brands. She also forced competition between the nobility by removing them from their locality where they were clearly superior. This company has integrated manufacturing. fabric storage to warehouse distribution and retail. Queen Elizabeth I used the dramatic spectacle of fashion as a display of governmental power. Germany. In 1999. retail stores such as Prada clear the stocks of past seasons or unsold goods through the factory outlets where prices of goods will be decreased by a significant percentage. From fashion magazines such as Vogue. From designing and marketing. Japan. Also.W… Figure 8: Photo Collage of the American Apparel factory located in Los Angeles (left) and one of the many American Apparel retail stores (right) available in many parts of the world such as United States. Belgium. Louis Vuitton engaged Madonna. (PPR.4% of stakes of the Gucci Group.

edu. For example. which are categorized by novelty.. “Speak ing of Fashion: Consumer’s Uses of Fashion Discourses and the Appropriation of Countervailing Culture Meaning”. using fashion discourses to forge self defining social distinctions and boundaries. competence and conscientiousness. Western fashion patterns. They use fashion to construct narratives of personal history. one sees that people judge and have perceptions of others through others’ fashion and style. Figure 11: Indian women are often typically portrayed as wearing saris (right) while Scottish men are k nown for wearing kilts (left) Fashion intertwines into the consumers’ self-identities and social relationships. …nus. 3. Fashion acts as a symbolic representation of one’s gender. creating stigma and stereotyping of a person background. "Traditional hierarchy of taste was a product merely of snobbery and the desire for distinction. helping us to understand their relationship to the consumer culture. constant renewing and updating.11/9/2010 Economic Analyisis of Fashion Retail . etc. The fashion phenomenon has raised many issues: 1) 2) 3) 4) 5) 6) 7) 8) 9) Morality of consumerism The conditions of self worth The pursuit of individuality The relation of appearance Character traits The dynamics of social relationships Reinforcing of gender roles Standards of taste Economic inequality and 10) Social class standing.. Thompson and Diana L. it may represent creativity. while Scottish men wear kilts.sg/…/Economic+Analyisis+of… 7/19 . organization. We perceive a person’s personality through the fashion or the style that one may have." Elizabeth Wilson 'Adorned in dreams: fashion and modernity' Individuals began to assume the role of a consumer in the economy. Consumers interpret fashion and use it to create personalised consumption meanings. In Craig J. and interpret the interpersonal dynamics of their social sphere. while the outdated fashion or wrong style may represent “the undesirable broader implication of not being able to effectively put one’s life together”.W… Figure 10: Eliz ab ethan fashion during the late 1500s to early 1600s. infused with advertising and mass media is considered an important basis of the ideology of consumption. Consumers actively combine and adapt culturally established fashion discourses to fit the conditions of their daily life. culture and even a person’s characteristics. Through the right fashion and style. Haytko’s article.1 Stigmatizing and Stereotyping Fashion affects the way people perceive each other. it is stereotypical to think that Indian women wear saris.

11/9/2010 Economic Analyisis of Fashion Retail . Fashion sells the ideals on what a CEO should wear and possess. with the advent of the World Wide Web. attitudes have been long established and easily recognizable throughout the world. Subcultures and countercultures adhere to a distinctive set of values. norms and practices within a larger culture that may oppose the dominant culture. the fashion that a CEO has is immensely different from that of a road sweeper.2 Fashion as a reflection of job scopes and titles By fulfilling expectations of one's job. which only knew the dimensions of "up" or "down". class status(mainly based on socio-economic status) and subcultures. High end job position holders are expected to possess designer products as a reflection and a symbol of their power and prestige. For instance. the teaching profession . being at the bottom of the occupation ladder. They all seek expression through consumer goods. grunge or hip hop as soon as they have become widely known and as long as they are used consistently. sneakers. but there are no dictionaries in the language of fashion. For example.2 Reflects expectations that come along with occupational status and prestige 3. “A Hollywood star flaunts her b eauty at the Oscar ceremony.W… The creation of new social classes.For instance. high or low educational level. oversiz ed shades and b aggy pants.com ) It becomes relatively easy to identify some subcultures’ in a society through their styles such as punk. Figure 12: The Hiphop fashion has been known to have bling-b ling. 3. one can easily google outfits suitable for their job scope. However nowadays there are many more dimensions to consider. is apparently evident through fashion and style.1.edu. fashion is constantly used an identification of job scopes purely through what we observe and interpret from one's attire. More importantly. It was once easy to judge. high or low ecological awareness and more. It is rare to find fashion defining dressing ideals of a road sweeper.1 Expectations Fashion reflects expectations that come along with occupational status and prestige. clad in an exiguous gown while the German graphic artist Jeanne Mammen used dress to disappear in Weimar Berlin to enjoy the freedom of being overlooked. (Photos courtes y of pops ugar.2.1.2. being at the top of the occupation ladder. the social status of a person. the subcultures and/or countercultures. The CEO. fashion puts a society's social hierarchy on display when it makes it easy for one to identify a person’s social background or social culture through one's dressing. As such.3 Fashion blurring the line …nus. would be expected to wear branded apparels and drive high-end cars. baggy pants and more importantly. Fashion works to distinguish social circles. would not be expected to possess anything fashionable or stylish to reflect his wealth and status.g. progressive or conservative.sg/…/Economic+Analyisis+of… 8/19 .” 3. hip hop fashion with its trademark heavy gold or bling-bling jewelleries. Different occupations demand different fashion style.1. by the quality and amount of fabric or the amount of labour-intensive lace and embroidery.1. while a road sweeper. Mass media is extremely important in the definition of job appropriate attire. Figure 13: Formal office attire (Photos courtesy of Victoria's Secret ) 3. e.

These Japanese street fashion brands have reached international success. As fashion evolved.11/9/2010 Economic Analyisis of Fashion Retail .com and coutorture. and wearing pants or suits was unthinkable. Since then. we see the rise in a different sort of fashion all together---the idolising of fashion deviant behaviour. Now. The fusion of Western culture with Asian culture can be seen in several Japanese street fashion brands such as Uniqlo. In Japan. Since then. Before the 20th Century.W… tak e on the structured and masculine tailoring. for the first time in American history. For example. the giving of women the freedom to dress as they had never been able to before.sg/…/Economic+Analyisis+of… 9/19 . Jean-Paul Gaultier. in the 21st Century. Western brands like American brand Abercrombie & Fitch and Swedish fast fashion brand H&M have become popular among aspiring American-preppy Japanese teens as Abercrombie & Fitch opens its first flagship store just steps away from H&M in Ginza. 3. A Bathing Ape and Comme des Garçons. while we see the rise in popularity of women’s pants suits. The 1960s Women’s Liberation in the United States of America saw. we see the blurring of the line between the strict male-female fashion styles. with men’s fashion adopting some characteristics of the women’s fashion. “I have never really cared about what fashion’s ideal was. In the past. Gaultier has been known for using unique looking models in his fashion shows of all different shapes. The 20th Century ushered a new era of fashion for females and males. and one of the most prominent avant-garde fashion designers is French haute couture fashion designer. …nus. we see tote bags are not only fashionable in the women’s fashion sphere.3 Fashion Deviance Over the years. it subtly advocates equality within gender and sexuality.” Figure 18: Avant-garde fashion being a form of fashion deviance (Photo courtes y of frillr.com and flickr. and Taiwan. we see the fusion of female and male fashion styles together. There are different k inds of beauty and I always try to show that. sizes and ages. and vice versa.com ) While fashion acts as a representation of gender and culture everywhere and acts as a divide for social spaces. Furthermore. like Japan.2 Fusion of Western and Asian Culture in Fashion Fashion has permeated from the West into Asian culture as early as the 19th Century when Japan began to emulate Western fashion. western fashion has integrated itself together with Asian culture and fashion to form what is now called street fashion in several Asian countries. Japan's upscale shopping district. with the Indian traditional attire and fashion taking the backseat. The portrayal of fashion-deviance has been gaining popularity with the rise in the mass media. with the most popular brands having flagship stores in the West. Western fashion has also influenced Indian high fashion culture.edu. Avant-garde fashion is fashion that is seen as experimental fashion or innovative fashion. we have witnessed the evolution of fashion for not only females but for males as well. Figures 16 and 17: Japanese street fashion (left) and Korean street fashion (right) (Photos courtes y of tokyofashion. such deviant fashion behaviour serves as effective marketing strategy with free publicity due to the different and outrageous style that will capture people’s attention.com ) Fashion deviance is not only seen in famous fashion designers but also in celebrities such as Lady Gaga. who is famous for her outrageous sense of dressing and her avant-garde music style. In Interviewhe explained that. South Korea.com ) 3. men’s fashion was masculine with dark colour shades like black or dark shades of grey. females were expected to wear dresses and skirts as a symbol of their being female. (Photo courtes y of imyouare. Such fashion deviance is a way of portrayal of one’s own personality through originality and individuality. but also in the men’s fashion sphere as well.

.com ) Figures 22 and 23: The difference in fas hion style being portrayed in two different productions of TV s how Beverly Hills. fashion.edu. hence. comes and goes and is never constant. budgeting and overspending with the increase in consumption. is one of the main driving forces of consumerism. It creates exposure for brands. this new consumer culture lays the foundations for consumption. there is a creation of consumer concepts such as ‘savings’. Figures 20 and 21: The tremendous fashion s tyle difference can be seen in Season 10 (left) and Season 1 (right) of famous TV sitcom Friends (Photos courtesy of cliqueclack. It is at this stage where fashion finds the opportunity to change and innovate in order to satisfy people’s need to wear new things. Endorsements are used as promotional tools and grant the brands exposure that yiels short term benefits and long term rewards. where companies typically contract athletes or celebrities to release a written or spoken statement approving their products. fashion does not serve as an accurate tool of identifying class. As a result. given the increasing need of socializing after work. where people learn the concepts of saving. fashion is as much a part of the dream world of capitalism as of its economy ” Fashion. and improved safety standards”. It give extensive public relations leverage and opportunities to the brands and promotes the brand appeal.. to lay claim to the exclusive and to follow the herd. 4." 3. This has been a utilitarian response from fashion to society’s changes. Specialised apparels (Nike dri-fit for sports) and accessories have been designed and made popular and essential.1 Influence of Fashion into Other Industries and Markets …nus.4 Creation of Consumer Culture Consumer culture or consumerism. The reactions of fashion on changes in activities and life styles can be found in sports. In this sense. It extends its characteristics into the larger product world as for consumerism to take place. or “the theory that a progressively greater consumption of goods is economically beneficial”. Koenig's neophilia can be understood as the acceptance of human beings to new things. The fashion industry's main way of advertising is through endorsements. tennis rackets. defined by Webster’s dictionary. The frequent renewal of fashion in our capitalistic society makes it an effective marketing strategy as the constant updating of ‘trends’ and the human desire to fit in keeps the fashion industry alive. such fashion often begins from the celebrities themselves. Fashion often starts from the fashion designers and celebrities themselves. product guarantees. needing to purchase products that essential to their socio-economic status. it is itself a very broad-based concept where any prevailing style or custom in tangible goods can be purchased. ‘budgeting’ and ‘overspending’.com and greenthinkers. Fashion. as they say. is “the movement seek ing to protect and inform consumers by requiring such practices as honest pack aging and advertising. positions and repositions existing brands as well as new brands. More importantly. It is unusual to see athletes today performing at high levels without the appropriate accessories and apparels designed to provide comfort and protection under extreme conditions. it depends highly on what is fashionable then/now. Coupled with mass media and advertising. we see the gradual change in fashion and style in the clothes that the characters wear throughout the show. we see that people have to constantly buy and consume new goods and services to stay in fashion. individuals learn how to be ‘consumers’. fashion provides a way for one to create an image they desire others to perceive. But with the ever changing trends and fashion. 90210 in the 1990s (left) and the current production of 90210 today (right) (Photos courtesy of materialconcern. with people consuming products that have been endorsed.sg/…/Economic+Analyisis+of… 10/19 . Most of the revenue in the market is driven by people’s consumption of products and services that are fashionable due to their desire for acceptance by society. (Hines et al).org ) “Fashion speaks Capitalism. 4 FASHION FITTING INTO THE LARGER PRODUCT WORLD As fashion is defined as a general term for the style and custom prevalent at a given time.11/9/2010 Economic Analyisis of Fashion Retail . such as basketball shoes. However. ‘happiness’. of fashion in a society. hence encouraging people to buy the products and increasing the sales for the brands' companies.W… "To dress fashionably is b oth to stand out and to merge with the crowd. Another example can be seen in how smart-casual outfits have become more popular with professionals. For example. or golf clubs. As such. and demand and supply. This creates a culture of hedonism through the impression that one can purchase a status and in turn. in long running TV shows like the US sitcom Friends. As people have the desire to emulate celebrities who are major role models in fashion. Along with this. in a sense is change. market makers sell lifestyles and consumers consume such products and lifestyles in hope for upward mobility in the social hierarchy. worn or used by the celebrities. Fashion creates a desire for ownership.

six César Awards and the Academy Award for Best Costume Design.sg/…/Economic+Analyisis+of… 11/19 .org ) Famed pioneering French fashion designer Coco Chanel's life was also made into several biopic over the years. Popular TV show. Several Hollywood actors and actresses have also been featured as the faces of famous brands over the years. surrealistlovescene. Grace Kelly and Jane Birkin respectively. with Emma Watson for Burberry and Megan Fox fronting Armani's underwear campaign. Sarah Jessica Parker has a fashion line with discount clothing chain Steven & Barry's named Bitten. Hollywood films have been glamorised by fashion as seen in many sitcoms and movies where actors don on newly released or limited edition accessories and apparels. Figures 25 and 26: Harry Potter's star Emma Watson as the spokesmodel for British luxury b rand. Sex and the City also promoted both Jimmy Choo and Manolo Blahnik. while Hilary Duff launched her own clothing line. The production of Coco Before Chanel shows how pioneers of fashion (in relation to Coco Chanel) are givne a status that makes them worthy of having their lives …nus. three European Film Awards. fragrances and jewelry) and hs since co-designed a collection of special pieces with DKNY Jeaans called Femme for DKNY in 2009.au ) The Hollywood industry has been making films and these films have both influenced the fashion industry as well as been influenced by the fashion industry. while Le Divorce featured Hermès in the movie.wordpress and girl.com. Anne Hathaway for Lancôme's Magnifique and Ryan Reynolds for Hugo Boss Fragrances.com and piercemattiepublicrelations . Furthermore. the most recent one being entitled Coco avant Chanel (French title) or Coco Before Chanel (English title). Another example can be seen in the 1970s actress.W… Chung. are Hollywood celebrities who have achieved high praises for their sense of style. while Charlize Theron is the spokesmodel for Dior's perfume j'adore (right) (Photos courtesy of youngpoorandangry.edu. such as Charlize Theron for Dior's j'adore. Figure 28: Movies like Legally Blonde 2 and Le Divorce features b rands like Jimmy Choo and Hermès extensively (Photos courtesy of 6x4. Marilyn Monroe.11/9/2010 Economic Analyisis of Fashion Retail . The film was nominated for four BAFTA Awards. whose hairstyle (named the "Farrah Do" or "Farrah Hair") made her an international pop icon and her hairstyle became an international trend. with many trying to emulate thier styles. Burb erry (left).com ) We have seen several Hollywood celebrities going into the fashion designing industry as well. For example. Sienna Miller has a label backed by Pepe Jeans called Twenty8Twelve. with millions of young women trying to emulate her hairstyle for nearly a decade from the beginning of the 1970s to the early 1980s. several fashion frands have named their products after celebrities. in March 2004 (which has since expanded into furnitures. such as Hermès' Kelly and Birkin bags being named after famous actresses.com . Figure 27: The different clothing lines launched b y Hollywood stars (Photos courtesy of twenty8twelve.es and elmundodepeliculas. Hollywood celebrities can also be found as faces of luxury brands as well. Perfumes are launched with Hollywood celebrities as the spokesmodels of the products. Nicole Kidman for Chanel's Nº 5. Farrah Fawcett. Legally Blonde II featured extensively the brand Jimmy Choo. the movie. Stuff by Hilary Duff. For example.

such as Barbie Fashion Show and Imagine: Fashion Designer. although MTV Movie Awards retired the category after the 2002 MMAs. Coco Before Chanel." Yves Saint Laurent. Latest versions of the game even include styles that are desirable and in fashion (such as leggings and owning a handphone). TV programmes like 90210 and Gossip Girl have incorporated fashion into the shows. Vogue. such as the Academy Awards (also known as the Oscars). …nus. Elle and Marie Claire. Teen Style Stuff. we see fashion being an influence in several other video games. Figure 30: Several fashion magazines follows and offer tips on how to emulate the latest style and fashion (Photos courtesy of the various magazine covers ) Fashion magazines.com ) Economic Analyisis of Fashion Retail .W… Figure 29: The biopic.sg/…/Economic+Analyisis+of… 12/19 . a game designed for the Nintendo DS. One example would be that of the 2004 strategic life simulation video game. Figures 31 and 32: Both TV shows 90210 and Gossip Girl incorporate the latest fashion and style (Photos courtesy of divxturka and ceylanoloji. such as Glamour Life Stuff. with websites devoted to teaching people how to emulate the style and fashion on the TV shows. such as Harper's Bazaar. where the players get to design clothes or assembling outfits. Ik ea Home Stuff and H&M Fashion Stuff. we see the influence of fashion in the digital games industry with increase number of games that incorporates fashion into the games. Also. The Sims 2.edu. The Sims 2 had expansion packs that had fashion included in it.11/9/2010 filmmofilia. style is eternal. have an award category for Best Costume Deisgn. documents famed pioneer French fashion designer. Also. InStyle. Other film award shows like MTV Movie Awards (MMAs) have an award category for Best Dressed. have programmes that cater mainly to fashion and style. Fashion Magazine. E! Entertainment has a segment called Fashion Police. For example. and showcases fashions and styles of Hollywood celebrities. Coco Chanel's life (Photo courtesy of Award ceremonies. Emmy Awards (for Television) and BAFTA Awards. 1940 "A girl should be two things: classy and fabulous.com ) "Fashions fade." Coco Chanel 4. TV stations like The Style Network. Such games sell and reinforce ideas of how individuals of different genders should dress. This shows the influence of style and fashion in films and TV shows in not only Hollywood but in the film industry as a whole. all expose the public to fashion and style.1. They follow trends set by celebrities or the latest fashion styles by fashion designers. Fashion TV and E! Entertainment. where they showcase celebrities' fashion Dos and Don'ts.2 Digital Games Industry With the advanced technology. Reality TV shows like Project Runway and America's Next Top Model also reiterate the importance of fashion and never fail to raise famous quotes by established fashion market makers.

a trench coat as warm-up attire.2 Integration of Fashion into Other Markets and Industries 4. One of the most popular one being the tie-ups between LG Electronics and Prada. and subsequently spun off the Jordan line into its own brand entitled the "Jordan Brand" that features an impressive list of athletes and celebrities as endorsers. this includes their warm-up and match attire. Maria Sharapova as well as the William sisters bring runway fashion on to the courts. fashion label Versace announced on January 19. named Samsung Armani.1 Cell phones In the recent years.com ) One obvious display of the integration of fashion into sports can be seen on the courts of Wimbledon. Michael Jordan has also become a prominant figure in the sport wear fashion. creating the LG Prada touchscreen mobile phone.co. Another famous basketballer. …nus. From here we can see fashion integrating in to the sporting sphere.au and auntiefashion ) 4. while John McEnroe (on the right) dons an afro and short shorts which was considered stylish in his time.2. 4. that it’ll be designing and releasing a Versace-branded cell phone in spring of 2010. Their outfits are clearly influenced by current prevalent trends. Miami Heat guard Dwayne Wade designing the a limited edition of the T-Mobile Sidekick3. named the Sidekick3 D-Wade edition.1. 2010. Also recently. Figures 35 and 36: NBA b asketballer Dwayne Wade's special edition of the T-Mob ile Sidekick3 (left) and the logo of Nike's Air Jordan's Jumpman logo to promote the shoes (right) (Photo courtesy of thedieline.com. Nike has created a signature shoe for him. Sharapova (on the left) dons a tuxedo-inspired outfit and Serena (3rd from left).sg/…/Economic+Analyisis+of… 13/19 .com and wikipedia.11/9/2010 Economic Analyisis of Fashion Retail .uk ) We also see athletes going into fashion design.W… Figure 34: Sportsmen like Swiss tennis star Roger Federer and French soccer champion Thierry Henry and golf phenomenon Tiger Woods (Photo courtesy of this islondon. For instance. such as cell phones and automobiles.edu. wiith famous NBA basketballer.1 Complementary Products We see the influence of fashion on several complementary products. released in 2007 for a limited time only.2. Serena Williams. Venus Williams and John McEnroe (Pictures courtesy of smh. called the Air Jordan . from the figure below. World renowned tennis players such as Roger Federer. Others include a tieup between Samsung and Giorgio Armani. there have been several tie-ups between luxury fashion brands and cell phone manufacturers. Figure 37: (from left to right) Maria Sharapova. Roger Federer.

industrial markets.11/9/2010 Economic Analyisis of Fashion Retail .sg/…/Economic+Analyisis+of… 14/19 . created a Chanel Fiole concept car. actors and products. Such shops are usually located in shopping malls and at times online shopping. distribution and consumption of goods and services. The layout of this online shop actually look like the layout of a real shopping mall and it provides greater convenience to consumers as they can purchase their items online without stepping out of their homes. trade and employment generation all over the world. …nus. with only twenty black and white cars featuring two-tone black and white trim inside and out. along with Gianni Versace logo plaque. More recently in 2006 is the Lamborghini Murciélago LP640 Versace edition that became the very first ever designer car. which are typically individual consumers who typically buy products to consume them. branded with the name of famed French luxury brand. Figures 39 and 40: The AMC Hornet was one of the first American cars to have a tie up with a luxury fashion b rand to offer special luxury trim pack age created b y a fashion designer (right). Before consumers can purchase the products. a major component of which is a physical good. revenue.1 Operation of the fashion retail industry fitting into the larger economy An economy is made up of market exchanges which consists of market.1 Consumer Goods Market It is a market whereby a seller.webklik. typically an organizational actor sells products.1. accessories and shoes to the buyers in the market.info and gucci. namely consumer goods markets. the goods have to be produced. to buyers. and has always been around since the 1970s. Ford Motor Company’s Lincoln Town Cars also offered Emilio Pucci. ECONOMY AND OPERATIONS The global fashion apparel industry is one of the most important sectors of the economy in terms of investment. while Chanel comes out with a concept car (left) (Photo courtes y of wallpapercar. South Korea. business service. 5.shabbylaneshops. with interiors finished in custom Versace leather. from the websites of various major brands to no-brand shops that functions on a smaller scale. To look at how the fashion retail industry fit into the larger economy. where the buyers consumes the good and not sell it to another party. a talented car designer at Hong-ik University. Jinyoung Jo. this leads us to the industrial market. Such websites are such as http://www. and labor market. where the various retail shops sells their apparels.edu. we will discuss about the industry's participation in the various markets. This is the consumption whereby the consumer consumes the goods produced by the fashion retail industry. Operations of the fashion retail industry include activities related to the production. Gianni Versace. Bill Blass. In 1972 and 1973. Twenty black and white Lamborghini LP640 Murciélago Versace Roadsters were produced as well.nl ) Figure 41: The Lamb orghini Murciélago LP640 Versace edition has a limited twenty pieces (Photos courtes y of s portscarforum. Hubert de Givenchy and Valentino designer editions during the 1970s and the 1980s. rather that to resell them. Gucci paired up with American Motors Corporation (AMC) to produce the AMC Hornet Compact “Sportabout” station wagon that became one of the first American cars to offer special luxury trim package created by a fashion designer. In 2009.com .com ) 5 MARKET SIZE. 5.W… Fashion can be seen evidently in automobiles as well.

capital and land together. …nus. India and Thailand. economic growth can be defined as an increase in outputs.com) Figure 44: Images of advertisements of Marc Jacob and Dolce & Gabbana ( Photos courtesy of wordpress. billboards and online websites. In the fashion industry today. Even from the consumer market.11/9/2010 Economic Analyisis of Fashion Retail .W… the production part of the fashion retail industry. Such people required are the demand for labor. large companies and brands dominate the industry.306 Source: Retail industry information by Barbara Farfan (about.2 Size of the market Like most retail industry.9% market share. As we can see from the Industrial market. businesses.edu. to $4. retail shops need people to sell their goods. labor is required. and the general economy.com and fanpop. according to the Census Bureau.475 trillion. Besides the channels mentioned.com .1.3 Growth of the market and relations to overall economic growth and dynamics Total sales for the U. is still the most powerful economy in the world it is showing signs of decay.177 5. the total sales in the US retail industry in 2008 is $4. 5. therefore the need for labor which is offered by individuals from the labor market. A new brand that just sprouted into the market will not turn famous overnight. Retailing is the primary driver of the global economy. There are various channels in which the apparels can be distributed such as through shopping malls and online shops. 5. Manufacturing in the fashion retail industry puts labor.3 Business Service Market The business service market is whereby both the buyer and the seller are organizational actors. Italy.2 100. Total sales of the top ten companies in the global retail industry (6 of which is from US and 4 from Europe) is $978. The larger the amount of transaction. therefore the importance of marketing and advertising.timetobleed. other popular channels are such as television advertisements. As we can see from table 6. according to international consulting group. using these inputs to create output for the economy by producing the final product. there will be no goods produced.S.com and yufuk u. Even though the U. Figure 43: Images of materials used for production of fashion pieces such as beads. Therefore economic growth can be defined as an increase in outputs or sales. making such large sums of sales annually. Using the input-output model.sg/…/Economic+Analyisis+of… 15/19 .S.475 trillion. Distributing in the different channels brings about greater exposure of their products. the larger the industry.256 Catalog Online/ Internet Total 7.9 3.1% overall in 2008 as from 2007.00 Brick and Mortar 169.1. without production. occupying a total of 92. which is the first step in almost all the products in the fashion retail industry. retail industry declined just 0. thread and textiles (Photos coutesy of wholesale-contacts. distribution is largely through brick and mortar. Retail industry sales declined each of the last six months of 2008. The manufacturing sector creates jobs. production is almost the most important process in the industry.com ) 5.net ) 5. which is the distribution part of the industry. the size of the fashion retail industry is determined through the amount of sales or transaction in a year. The business service markets needs people to promote and advertise for their products. which are then matched by the individuals for the labor market. The largest apparel manufacturers and exporters were countries from the Asia-Pacific region such as China. to manufacture the goods. Economic growth as "marketization" is an increase in the amount and scope of monetary transaction.5 billion in 2007. Products consist of services such as marketing and advertising.9 3. Germany and Mexico. In the fashion retail industry. Economic dynamics is changes in an economic system over time. According to the Census Bureau.4 Labor Market This market mainly consists of individual who sell their labor to other actors typically the organizations. Deloitte. Table 6: Distribution of sales in US Category Sales US$ Billion Market Share (%) 92. particularly those reflected in the behavior of markets. The other major apparel manufacturing nations were USA.873 182.

W… 6. Massproduced clothing is often typified by lack of benefits.3 Importance of Anti-Trust Laws Anti-trust laws were implemented to prevent the concentrations of wealth in the hands of very few through trusts and monopolies. Orthodox economists like Richard Whish fully acknowledge that perfect competition is seldom observed in the real world. etc. organizations like the United Nations. death. garment workers are exploited mainly due to cheap labor. often employing illegal immigrants. mainly for the garment workers. governments and campaign groups are stepping up their laws and regulations for producers in order to provide a better environment. Apart from the pests.2. pesticides also cause the death of other small animals and birds consuming them inadvertently. 6.2. 6. managed by American Internet Company eBay Inc. A Case Study on Copyright Violation: eBay Inc. of which pesticides worth about 819 million USD have been declared poisonous as per the guidelines of the WHO. China. 2004). UK. Fashion-retail powerhouse LVMH has created their own form of brand protection to deal with the growing number of counterfeiting products in the market. They provided a registration scheme for manufacturers.1. tremors. Many countries have also created organizations and guilds to prevent such issues from arising. due to the lack of financial reserves to withstand a sustained predatory pricing assault. In the US.1. the Paris commercial court ordered eBay to pay nearly 40 million euros in damages to Louis Vuitton for selling fake luxury goods in a ruling due to copyright protection.1 Issues in The Fashion Retail Industry 6. The constant use of toxic pesticides leads to air. accessories and jeweleries in the market today. and so aim for what is called "workable competition (Richard Whish. Robinson-Patman Act Clayton Antitrust Act Sherman Antitrust Act Hart-Scott-Rodino Act Federal Trade Commission Act Economic Analyisis of Fashion Retail .2. garment workers in developing countries have continued to suffer under harmful conditions which demand repetitive manual labor.2. Bangladesh.3 Copyrights Issues Due to the wide range of clothing.4 Ethical Issues Animal rights have also brought up ethical issues related to the fashion industry time and time again. who would then collectively boycott retailers if they were caught selling copied items.1. is a shopping website which provides online auctions for people and businesses to buy and sell a broad variety of goods and services worldwide. the fashion retail industry have also faced many social issues over the production of its goods. 5. In June 2008. 6. Pesticide poisoning can lead to negative symptoms such as headaches.2. The cruelty to animals behind the …nus. Based in France.2 A Harmful environment The production of cotton which entails the use of a large amount of pesticides.1.2.1.edu. harmful to the environment and to people. 6.1.1Types of Anti-trust Laws 1.2 Social Issues and Implemented Regulations Over the years.1. While most examples of such conditions are found in third-world countries.000 euros in damages. LVMH has been aided by police operations leading to the arrest of many illegal vendors selling counterfeited products which helped to raise the awareness of buying illegal products in consumers. This is mainly due to the drive of these immigrants seeking new economic opportunities and better livelihood at the expense of exploitation (Mark Patrick Taylor. In terms of production in the fashion retail market. Antitrust laws were formed to prevent trusts and monopolies from creating restrictions on trade which reduced competition. loss of consciousness and. it controls market operations where it can.2. Figure 45: eBay break ing copyright laws again (Photo courtesy of eBay. First-world countries such as USA. taking a temporary loss so as to drive competitors out of business and achieve a dominant market position. 6. Further selling of fake luxury perfume which bore the name of Louis Vuitton later that year led to the fining of eBay in which they have to pay LMVH 80. clothes made in more industrialized countries may also be manufactured similarly. 6.1. while their competitors can operate individual outlets at a loss indefinitely.11/9/2010 6. many retailers face the issue of copyrighting someone else's product and this have led to many problematic issues over the years. the Fashion Originators' Guild of America was created to patent and prevent the copying of clothing designs. Only in recent times. 2007). etc and Third-world countries such as India. 3. in some extreme cases. Statistics have shown that nearly 2 billion USD worth of pesticides are used yearly. By using the law. Such trusts and monopolies erased normal market competition and produced undesirable controls on prices. water and soil pollution.2 Buyer Power Buyer power is the ability of big retailers to use their clout to bully suppliers into providing special discounts and favorable terms that are not made available to local businesses. 2. 6.sg/…/Economic+Analyisis+of… 16/19 .2 Types of Anti-Trust Violations Two types of anti-trust violations are of most concern in this industry. long working hours and worker representation. The health of the workers spraying pesticides in cotton fields are adversely affected. Ultimately whether it is a First-world or Third-world country. Independent retailers are especially vulnerable.com.com ) eBay.1. 6. mainly predatory pricing and buyer power.1 First-world or Third-world? Whether the market is regulated and/or influenced by the state depends on the development of countries. 4.1 Predatory Pricing Predatory pricing occurs when a company sells its products below its own cost price.

among others. 6.2. PETA focuses on four core issues: factory farming.org ) The International Labor Organization (ILO) is a specialized agency of the United Nations that tackles labour issues and has received the Nobel Peace Prize in 1969 (Alcock.org ) The Clean Clothes Campaign (CCC) is dedicated to improving working conditions and supporting the empowerment of workers in the global garment and sportswear industries. Elie Tahari. where ratings from other fellow shoppers are given as an indicator of how popular an item is. though many countries have recognized the regulations set by the ILO. However. animal testing and animals in entertainment and has continuously campaigned against the killing of animals. They cover fashion at all levels from the biggest names to the smallest indie designers and clothing worn by …nus.ilo.CEO. and Bud Konheim .2. along with other animal rights groups have called for attention to the extraction of fur and other practices they consider cruel. and training and technical assistance to New York apparel manufacturers and workers.W… Figure 46: International Labor Organization (Photo courtesy of www. This shows the awareness of top fashion retail players who are concern about the rights and working environment of their workers. PETA.cleanclothes.COO.3. the CCC has campaigns in 14 European countries and works with a partner network of more than 250 organizations around the world. 6. many countries continue to exploit the workers by not fully enforcing the ILO's laws and treaties. successfully tackled the issues. Thomas Murry . fur farming. The CCC also pressures retailers and manufacturers to adopt the Code of Labour Practices and many successful campaigning by the CCC has led many businesses to adopt this Code of standards for suppliers. Some of the major groups are discussed below: 6. without an intermediary service over the Internet. Formed in the Netherlands in 1989.2. Online shopping provides many advantages such as convenience. In the fashion retail industry.2. Successes The CCC has developed a "Code of Labour Practices for the Apparel Industry Including Sportswear" based upon the conventions of the United Nations' International Labour Organization.sg/…/Economic+Analyisis+of… 17/19 . price and selection and information and reviews. we look to fashion blogs as the key to online shopping. many designer and campaign groups have sought to improve these conditions by sponsoring awareness-raising campaigns.1 People for the Ethical Treatment of Animals (PETA) Figure 49: Logo of PETA (Photo courtesy of peta.3 Non-Profit Organizations and Campaign Groups Coalitions of Non-Profit Organizations.edu.2.3.org ) People for the Ethical Treatment of Animals (PETA) in the US claims the largest animal rights group status in the world. buyer referrals. Calvin Klein.2.2.1 Clean Clothes Campaign (CCC) Figure 47: Logo of Clean Clothes Campaign (Photo courtesy of www. Nicole Miller. The ILO organizes the International Labor Conference in Geneva every year. A. 7 PREDICTING THE FUTURE OF FASHION RETAIL: ONLINE SHOPPING Online shopping is the process whereby consumers directly buy goods.2. The principles set forth in this code include. 6.3 The Need for Intervention: Animal Rights 6.11/9/2010 Economic Analyisis of Fashion Retail . mainly through world-wide events which draw the attention of the media and the public. A fashion blog can cover many things such as clothing and accessories. 1971). a minimum employment age and safe working requirements. among others. and has to a great extent. GIDC's main aim is to provide for a worker's education and GIDC's Board of Directors include some of the top leaders of New York's Fashion industry including. of forced labor and child labor. In the realm of fashion retail. The ILO in all its efforts has proven to contribute to an improving human rights situation for the world's Indigenous peoples.2 The Garment Industry Development Corporation (GIDC) Figure 48: Images of GIDC (Photo courtesy of gidc.3.org ) The Garment Industry Development Corporation (GIDC) is a non-profit organization established in 1984 and has evolved into a multi-tiered service organization providing marketing.

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