In this order of ides, the technology adherent to the apparel production process is on its path from computer made designs to technologically improved materials' quality. For example, future directions in the apparel industry involve "more types of fiber developed using nanotechnology or smart clothes that incorporate electronics."
4.3 Marketing innovation
The main characteristic of current trade and production is that the items tend to focus more and more on the customers' needs and desires. Apparel producers are today faced with the difficult task of combining the publics' needs with a high quality of work and material as well as with the latest fashion trends. Aside from these, apparel manufacturers are constant contributors to the art of marketing in order to promote their items. Apparel producers have been able to take the advertising campaigns one step further and organize glamorous fashion shows. These fashion presentations are in fact the core of apparel marketing and still represent its main source of prestige and customers.
4.4 Extent of globalization
The effects of globalization upon the apparel industry need to be analyzed from two points-of-view. First, from the production point-of-view, globalization brings about outsourcing of workforce and raw materials from abroad as they imply lower costs that the national resources. On October the 5th, the Sri Lanka Ministry of Finance publicized a press release stating that "According to the Chairman of Sri Lanka Exporters Association, A Sukumaran, exports of Sri Lanka apparel to U.S. registered a growth by 9.5% to U.S. $1,217.5 million from January to September this year"
The other point-of-view is referred to as fashion globalization. The United States have been able to impose their clothing culture upon numerous countries. "At the start of the twenty first century, the preferred garments of young people of both sexes from around the world tend to be jeans, sweatshirts, T-shirts and sneakers. These clothes are also international icons of American culture. The global young wear the same clothing, a phenomenon made possible by new technologies, global commodity advertising of branded leisure clothing, and the cultural and political domination of the United States. The reasons for wearing such clothing vary, but these clothes signify youth, modernity and an eagerness to belong to the newly globalized capitalist world."
5. Companies in the StrongestWeakest Positions
The leading positions in the apparel industry assure the occupants privileges such as international recognition and power as well as immense revenues. Fashionable clothing and accessories belonging to apparel houses of Gucci, Ralph Loren, Chanel, American Apparel, Dolce&Gabbana or Vera Wang have become part of the American culture and nowadays struggle to compete for the title of world's leader on the apparel industry.
5.1 Gucci
Gucci fashion house is "one of the world's most influential fashion houses and a highly profitable business operation." Their position in the apparel industry is given by their great number of customers, turnovers and international recognition. They have opened stores in most parts of the worlds, having headquarters in The United Stares, United Kingdom, Germany, France and Japan.
Gucci Strategies
Prior to the year 2000, Gucci was faced with an economic crisis. In order to overcome it, they were willing to sell the majority of option stocks. The stock options were sold to Prada and to LVMH which aided to the revival of the company. In September 2001, the Gucci Group signed a partnership agreement with the French company PPR and purchased shares from Di Modolo, Balenciaga and Bottega Venetta. In addition, they focused towards collaborations with new and young talented designers, such as Stella McCartney or Alexander McQueen.
Regarding their human resource strategies, it is known that along the years Gucci has not hesitated in letting their employees go and replacing them with better qualified personnel. Aside from the high quality of their products, Gucci also attracted customers through numerous promotional strategies such as price reduction or purchase gifts in the form of accessories (belts and watches.)
5.2 Vera Wang Strategies
Vera Wang, named after its top designer, is an apparel business located in New York, mostly focused on wedding gowns, but also producing clothing for other numerous occasions. The latest strategies adopted by this fashion house involve launching on the market several new products and expanding the product line. The designer intends to launch "an exclusive line of clothing and handbags [...] and also manufacture and market the Vera Wang mattress set."
Nonetheless heroic, launching into a new market is a rather risky action. Given the international reputation of Vera Wang wedding gowns, the outcome of the new product line would also affect...
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