...INDUSTRY REVIEW REPORT SUBMITTED IN PARTIAL FULLFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREEOF BACHELORS OF BUSINESS ADMINISTRATION BY: T. Samuel (1211643) Yash Singh Dabi (1211646) Aakriti Tyagi (1211647) UNDER THE GUIDANCE OF Prof. Nagendra Nayak Department of Management Studies CHRIST UNIVERSITY BANGALORE 2013 DECLARATION We, T.Samuel Pongen, Yash Singh Dabi and Aakriti Tyagi hereby declare that the industry review report on the performance of the FASHION INDUSTRY with specific reference to Chanel, Tommy Hilfiger and Burberry submitted to Christ University, in partial fulfilment of the requirements for the award of the Degree of Bachelor of Business Administration is a record of original and independent research work done by us during 2011 – 2012 under the supervision and guidance of Prof. Nagendra Nayak Department of Management Studies and it has not formed the basis for the award of any Degree/ Diploma/ Associate ship/ Fellowship or other similar title of recognition to any candidate of any University. DATE: FEBRAUARY 2013. COMPILED BY: T.Samuel Pongen (1211643) Yash Singh Dabi (1211646) Aakriti Tyagi (1211647) Acknowledgement We would like to express our profound gratitude to all those who have been instrumental in the preparation of this Entrepreneurship Development Report. We wish to place on records, our deep gratitude to our project guide, Prof. Nagendra Nayak, for guiding us through this project with...
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...resources are responsible for its better performance while working in a dynamic environment which academics term as resource based view of the firm (RBV). The RBV analysis assumes that both resources and capabilities are important for better performance and explains why some firms perform better than others in an industry. Using RBV as a framework this essay aims to examine how ZARA generates sustainable competitive advantage. (Opening is good, you have been able to introduce theory that would be discussed the essay). “A fast fashion system combines quick response production capabilities with enhanced product design capabilities to both design latest products that capture the latest consumer trends and exploit minimal production lead times to match supply with uncertain demand” (Cachon and Swinney, 2011). Fast fashion is widely gaining recognition as being a key enabler for success for modern fashion retailers (Barnes and Lea-Greenwood, 2006). Fashion retailers such as ZARA, H&M and Benetton have adopted this strategy in order to enhance its business system and gain competitive advantage. ZARA was established in 1975 and is the flagship of Inditex (Industria de Disen˜o Textil) of Spain. In a relatively short span of time, ZARA became the largest and most internationalized of Inditex’s chains. At the end of 2001, it was operating in 507...
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... The reason I chose this stores is because I have been shopping at both stores for over 4 years and I really like their styles and I was intrigue about what’s their strategy on how they have an edge over their competitors. I know what’s their traffic on their store, and didn’t have to went to those stores for get the information needed to do this paper, I only went once to speak with the managers and the rest I was able to do it based on some research and the knowledge and experience I have from being a customer for both stores. I hope this research paper will met all your expectations and you learn something new about these retail stores. [pic] History Diesel was founded by Renzo Rosso in 1978. He wanted it to be a leader, a new type of company that will focus on style and fashion. So he carved out a niche for itself in its field. He started surrounding with creative, talented people, innovators that matched his new ideas, by rejecting the slavish trend following typical of the fashion industry. He wanted to create the most dynamic and imaginative product available anywhere: he gave his openminded design team broad stylistic freedom,...
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...Question: In the Eyes of the Consumer, Brand is Far More Important than Price. Discuss this Statement in the Context of a Country of your Choice. Tutor Name: Katie Mulcahy Recently, the topic of brand and price which are important has become an intense debate. In some people's point of view, brand is far more important than price. Following this further, brand is a name or symbol of one company's product and it is connected with advertising, price and quality. Also, it will be the necessary one of the factors to consider when some people buy clothes. The famous advertising copywriter and ad agency founder Ogilvy, (2007) definition of a brand "The intangible sum of a product's attributes: its name, packaging, and price, its history, reputation and the way it's advertised". Which means the price is a part of the brand, exist a very close relationship between price and brand. The purpose of the essay is to discuss whether or not brand is more important than price when people buy clothes in China. To achieve this purpose, I will choose China to analyze customer shopping behavior, psychology through provide examples to support brand is more important in the first part, in the second part I will give views to analyses price also a necessary role and conclude in the end. However, this essay focuses on business and marketing so I cannot write more about psychology. With brands development, design style and visibility are more important than price especially...
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...MNE3701 - ASSIGNMENT 2 UNIQUE NO: 873203 Jasmin David (Student No. 35536500) Question 1: 1.1 ) Selecting a good Business Location. There are 5 key factors in determining a good business location; Customer Accessibility is important in determining the location of the business. The business (retail outlet/service firms) needs to be situated where there is easy access. In companies where the cost of shipping or transporting of the finished good is high, consideration should be given to produce or manufacture goods closer to the consuming market due to the excessive transportation costs. Business Environmental conditions. There are several conditions to take into consideration, such as competition, crime, legal requirements, weather or climate which may create a need for other products or product testing conditions. Eg. Air conditioners, heated pools, specific security measures, etc. Resource Availability. For any operation to be efficient and sucessful there must be adequate resources available. Resources such as raw materials are not always available in all areas, therefore a business that deals with manufacturing these raw materials should be located close by. Also labour supply and availability and access to transport should be considered. Entrepreneur’s personal preferences. It is normally the entrepreneur’s personal preference and convenience that influences the decision making when locating a business. Entrepreneurs may choose a local site or location with which they are...
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...H&M Case Study H&M is a Swedish retailer in fashion apparel industry and was founded in 1947 by Erling Persson. The fashion apparel industry is often regarded to be one of the most difficult branches to operate in, due to short product cycles, volatile demand and fierce competition in an increasingly globalized world. Mass-market pioneer in fast-fashion business Structure: 1) Name model 2) Mention why and/or when to use 3) Analyses PESTEC * Political factors that affect businesses include new legislation such as the national minimum wage and setting tax rates such as VAT or Corporation Tax. * Economic factors that affect firms are inflation and unemployment, interest rates and exchange rates (if importing or exporting goods abroad). * Social factors that can affect businesses include fashions, tastes and trends, and also demographic factors such as the ageing population of the UK. This has seen the rise of what is called the 'grey pound' – an increased number of wealthier older people with a disposable income. * Technological factors consist of the rapid automation of factory and industrialised work, or the worldwide increase of retailing online, e-commerce. * Environmental factors that affect firms are mainly concerned with being sustainable and being ethical. Examples of these issues are the recycling of used products, whether products are bio-degradable and the disposal of industrial waste. * Competitive factors is concerned...
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...The logo: Uniqlo have many ranges in one categories, they have T-shirt, sportswear, casual wear and underwear. Uniqlo monopolized the product, for example: heat tech, super light wool and bra-tops. The heat tech can let consumers get warm all the time, the super light wool can let the apparel of Uniqlo become lightest. This kind of things will get the interest of consumers. Uniqlo always have attractive campaigns when they will be open at some complex/shopping mall. For example, they will have a offer price when they opened at somewhere in 1 month. Sometimes, they will have a campaigns for 1 man’s underwear in RM10.All of this campaigns will let every gender ,every generation can find your own apparel at Uniqlo. Introduction On “Uniqlo” Uniqlo is the Japanese largest apparel brand owned by fast retailing, apparel is a fast moving consumer goods, include Uniqlo. Consumers will not high loyalty in a brands, the apparel company will get some attractive way to interest their consumers. Uniqlo advocate “low price, good quality”, the consumers always love the way you can get the cheapest things with high quality. That’s why Uniqlo can be success. The apparel of Uniqlo become popular among every generation since the introduction of their fleece jackets, they made the apparel for everyone. Uniqlo is using SPA (Specialty store retailer of Private label Apparel) business model to encompassing all stages of the business--from design and production to final sale. The SPA (Specialty...
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...REVIEW OF EXHIBITIONIn Fine Style: The Art of Tudor and Stuart Fashion (London, The Queen’sGallery, Buckingham Palace, 10 May–6 October 2013). Catalogue In Fine Style:The Art of Tudor and Stuart Fashion, ed. Anna Reynolds. London: Royal Collec-tion Trust, 2013. 300 pp. illus., over 320 colour. £45.00. ISBN: 978-1905686445(hb).‘In Fine Style: The Art of Tudor and Stuart Fashion’, described as the Royal Collec-tion’s first exhibition of royal fashion, presented the visitor with an impressive numberof Tudor and Stuart portraits, most of which were drawn from the Queen’s Collection.Over sixty pictures, some very well known and others less so, were used to exploreclothing worn by the English monarchy and nobility between 1485 and 1714. Thevirtue of selecting paintings spanning approximately 230 years of English and thenBritish history, ranging from Henry VII to Queen Anne, made it possible to focussharply on how royal fashions changed over a significant period of time. And thesewere turbulent times that saw the rise and fall of two royal houses, queens regnant aswell as kings, a minority, a regicide, and the Restoration. Against this context, maleclothing evolved from the doublet and hose worn with a long gown (favoured by HenryVII), to being accompanied by a short, semi-circular cloak worn nonchalantly on oneshoulder (by the reign of James I), to the coat, vest and breeches. This forerunner tothe modern three-piece suit was introduced by Charles II and became really estab-lished under...
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...M&S have a strong focus on consistent quality and high standards. They have been aware of technological factors and social changes within this market and have reacted in particular to the technological evolutions effectively, helping them to achieve one of their core competencies that is, quality. Driving forces in this industry proved difficult for M&S, globalization, the development of casual trends, and accelerating fashion cycles were major evolutions that became prevalent in the textile apparel industry, M&S were not reacting to these factors well and so they were becoming quite lost in their own market. Macro Economic Factors/PEST Analysis. Technological Issues The textile apparel industry is becoming to rely on technology for faster production systems and better quality products. We have seen that M&S have had a successful technological component to their organization, close co-operation with suppliers and the use of the latest technology has been the foundation for achieving the highest quality in their products. The fashion industry is going to keep evolving with the newest technology, it is vital that brands react to this macro-economic factor as it will be what may differentiate you from your competitors. Economical Issues A recession will have an enormous effect on M&S and this industry, along with their consumers. Costs will increase and prices will go down, leaving possible profits at a low. Consumer will have less disposable income...
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...One often hears of the design aspect of fashion, but many neglect the fact that there is a fashion-merchandising field that has many exciting career paths as well. What is Fashion Merchandising? Fashion merchandising is where fashion and business meet. Fashion merchandising involves marketing fashions to various retail stores, boutiques and wholesalers. The mission of a fashion merchandiser includes connecting different fashions to consumers and anticipating what your clients will be interested in. Fashion merchandising doesn't center on fashion alone; it entails a keen business sense and knowledge of assorted marketing strategies and techniques. Fashion merchandising is an interesting career option for those of you who are interested not only in fashion design, but also the business activities involved in this field. For me fashion is way more then just clothing you wear, I see fashion in all parts of life. Fashion is a way to express who you are and how you are feeling. I want to be apart of helping people express themselves and tell their story. I always had an interest in how fashion trends come about. How they come and go and how everything in the word has an impact on it. I find it fascinating how everything from the sky to history such as World War 2 impacts the fashion industry. I love doing research on things such as how new trends come about and how old trends come back into style. Fashion merchandising is brad industry that requires a strong style and tends in...
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...looks; the combination of features that makes it different from other garment. Fashion- is a style that is accepted and used by the majority of a group at any given time. Design- is a particular style that may be expressed in a great many designs. All different yet related because they are in the same style. B) Classic- a style that remains genera fashion acceptance for an extend period of time. Fad- a short lived fashion, generally concerned with some detail of design, mostly affecting only a narrow group within the total population. 5. 5 stages: 1) introduction, 2) rise, 3) culmination, 4) decline, 5) obsolesces. 6. Consumer use of a fashion product follows a cycle similar to the buying cycle; however, the use cycle begins after the buying cycle and endures beyond the buying cycle’s decline and obsolescence stage. 7. Fashion changes are outgrowths of changes in consumer needs and require the support of the majority. Consumers dictate what styles will become fashions by accepting some style and rejecting others. 8. 1) Consumers establish fashions by accepting or rejecting the styles offered. 2) Fashions are not based on price. Just because something is expensive does not mean it will be successful. 3) Fashions are evolutionary in nature; they are rarely revolutionary. 4) No amount of sales promotion can change the direction in which fashions are moving. 5) All fashion end in excess....
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...Product refers to the fashion items and services that a company will offer its target market. Company history may play a major role here; many firms have a long-standing record in producing specific lines. For instance, when a sportswear company may try to develop products on sports equipment but will not usually decide also to make and sell bras or evening gowns. Product element is fundamental to the fashion design industry. The continual process of new product development and resulting change drives the whole industry and answers the demand from consumers for a constant stream of new ideas and offerings. . Without the constant generation and introduction of new ideas, the concept of fashion may not exist, the seasonal fashion shows and collections may fade out. Axiomatically, if consumers were not constantly engaged in the process of looking for new products to satisfy their emerging needs, the fashion process could not function either. All of the three brands, H&M, DKNY and PRADA are at the maturity stage of the product life cycle. They all have a long brand history. Miuccia Prada designed Prada in 1988. DKNY was founded by Donna Karan in 1989 in New York. H&M was founded in 1947 in Sweden. At this stage, their products have achieved acceptance by most potential buyers. There is a slow down in sales growth in total. These companies may try to increase their advertising and sales promotion to remind and inform the public of their products and events. They can also increase...
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...their simple and attractive with high level quality of clothes. We will try two analyze working culture, business performance and history, competition and geographic dominance of two clothing retailer giants. Years before two small stores opened and they succeed to dominate market with their modern style and different business doing. • Zara has already changed the fashion industry. - Business Insider Zara is most #58 biggest brand in the world according to Forbes. • America's largest apparel retailer is embarking on a turnaround plan to recapture cool customers. - Business Insider Gap inc is #745 Gap biggest brand in the worlds according to Forbes Zara shops followed swiftly in New York in 1989, Paris in 1990. Now the group has nearly 3,900 stores in 70 countries around the world. Gap has 3,100 stores globally and employs about 150,000 people. A Gap spokeswoman declined to comment on the loss of the top spot to Zara. Let's check analyses of these two giants with full provided information. Firstly take brief tour to their history and about founders. Brief History of Brands Fashion giant, Zara, forms part of the retail group ‘Grupo Inditex’ which Mintel (2007) acknowledges as one of the “largest, fastest growing and successful” clothing retailers across Europe. Grupo Inditex is formulated by an amalgamation of major high street names from across Europe, including Zara, Pull and Bear and Bershka, in total boasting 3.825 stores across 68 countries...
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...A Look Into Kent’s Fashion School Store By: The Melting Pot Fashion Visuals: Vince Quevdo April 11, 2014 From visiting the Fashion School Store as a group we have come to the conclusion on what the goal of the store is. They first want to show to the local community and others who might visit Kent, Ohio what the fashion students have created. This acts as a learning experience for people who might not have extensive knowledge on fashion and what goes into creating such garments. The works of the students that are sold in the store also acts as a way to show case why the school is ranked as high as it is in a small place like Kent compared to other fashion meccas which are home to top fashion programs too. With ties to the textile lab you can truly get a full view on the whole process as well getting to buy one of a kind garments. The target market of the Fashion School would surprise some it is located on a college campus but they go after an older more establish crowd. Age group would be around thirty to forty years of age. Reason being is that the clothing does have a higher price point seeing that the garments are all hand crafted. This is their target market to because people around that age might not be as fashion forward as students you attend the fashion school themselves. Having a older more established crowd gives the opportunity to grow seeing that they hold most of the money in the communities and they get things around by word of mouth. Doing this does not...
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...INTERNATIONALISATION OF THE SPANISH FASHION BRAND ZARA Carmen Lopez Ying Fan Brunel Business School Journal of Fashion Marketing and Management (2009), 13:2, 279-296 INTRODUCTION Zara is one of the world’s most successful fashion retailers operating in 59 countries. However, there is little research about the firm in English as the majority of publications have been written in Spanish. This paper seeks to address this gap in the literature by examining the internationalisation process of Zara. This study adopts an in-depth case approach based on extensive secondary research. Literature published in both English and Spanish has been reviewed, including company documents such as annual reports. The paper starts with a brief overview of the global textile and clothing industry, followed by the case study of Zara. The main part of the case examines the key aspects in the internationalisation of Zara namely: motives for internationalisation, market selection, entry strategies, and international marketing strategies. In the final section, comparisons are made between Zara and two of its main competitors, H&M and Gap. The global textile and clothing industry The removal of all import quotas in the textile and clothing industry from January 2005, involving the unrestricted access of all members of the World Trade Organization (WTO) to the European, American and Canadian markets is considered a key driving force in the development of the clothing sector (Keenan, et al., 2004). This...
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