My second book was Fashion Marketing written by Tony Hines and Margaret Bruce in 2007. Fashion is a global and very hard business. Fashion is about self-expression, emotion and identity. Fashion reflects and pushes cultural and social boundaries. In fashion business there are a lot of employers with different talents and skills to bring fashion apparels to the customers. That includes designers, product developers, textile producers, manufactures, merchandisers, buyers, markets, technologists, supply chain experts, logistic managers, strategists and retailers including front line customers, service with the best delivering to the marketplaces in fast way with the most competitive price.
A hard thing in fashion business is that the fashion is changing constantly from colours, forms, textures, labels, and so on. Fashion can be extremely short-lived. That makes forecasting, planning and marketing risky and complex. The worlds trade in textile and clothing is around 350 billion dollars witch represented 7% of the hole trade in the world in year 2004. Worldwide there are estimated to be 40 million people employed in these industry and in China there are 19 million employed in textile and clothing industry.
Today you can shop fashion everywhere, you find it in the supermarket and in different kind of shops; they have a wide range of different stuff. Although, in there you’ll only find the mass production staff.
Baltic Fashion is working with luxury goods witch are unique, the entrepreneurs in fashion do only few examples of each clothes. Design and luxury goods have a potential in the market because people think more ecological. In China there is 10 million of potential consumers for the luxury products. People are today more brands aware and prepared to invest in luxury fashion brands.
The book includes all this and a lot of more necessary information of fashion marketing that we can use in this case. The competition in the fashion market is hard and that a large part of production comes from low-cost countries. Today’s designers have it really hard to get into the market because they sell in big volumes.
Niklas