An industry refers to the production of an economic good or service within an economy. The fashion industry and textile industry are two of the worlds major industries.
The Fashion Industry is fragmented and highly competitive. There are numerous large scale players as well as many small & medium size apparel companies as well. There are countless niche clothing companies that cater to specific demographics. The fashion industries overall composition is broad and internationally based. It is truly a major player in the global economy.
The fashion industries primary functions:
If we were to summarize the fashion industry we would say that it is largely based on, "The design, manufacturing, transportation, warehousing, wholesale distribution, retail sale, and marketing of clothing, footwear, and fashion accessories". With that said, it is important to understand that "many" other business components are involved such as financing, logistics, technology related issues, customs clearance, etc.
The Apparel Industry consists of companies that design and sell clothing, footwear and fashion accessories. Product categories include everything from basics, such as underwear & t-shirts, to luxury items such as cashmere sweaters and alligator-skin handbags. Traditionally, apparel companies were wholesalers, selling large quantities of goods to retailers, which then marked-up items and sold them to consumers at a profit. In modern times the line has blurred a bit between wholesalers and retailers. Some wholesalers retail product directly to consumers and some retailers purchase product direct from factories.
If you are not sure what it means to be a wholesaler, you can visit the wholesale clothing explanation page.
There are a number of reasons why companies in the Apparel Industry establish retail divisions. Dedicated retail stores allow a company to highlight its own merchandise, without worrying about competing labels.
Fashion Brands Are Important:
Private-label clothing brands are found in department stores and discount chains. Though they are less expensive than branded items, such goods are often more profitable for the seller. Brand-name items and private-label goods compete against each other for shelf space throughout the business cycle.
- Learn about private label brands in our terminology section.
Brand names, in particular familiar offerings with a good reputation for quality, style or value, are popular among shoppers. A clothing company possessing a broad line-up of well-known brands has a competitive advantage over its peers.
Fashion Industries Technology Summary
You will find that the fashion industries segments are very interesting and diverse. Learn about the various aspects at the Fashion Industry Network.
Learn more about the apparel industry here on Apparel Search.
If you enjoy reading, you may want to visit our fashion news page for access to industry news sources.
The world of fashion is enormous. Sometimes a little summary can be advantageous. To be honest, summarizing the fashion industry is no easy task. It is a rather large and complex business.
We hope this summary of fashion section has been of help to you.
Thank you for using the Apparel Search website.