The Indian market as a whole and as such even the fashion industry outstretched its arms to the global market circa 1991 which marked the beginning of a new era, we commonly refer to as “globalization”. This entailed a retail boom which led to a veritable increase in the retail space for retailers both at the local and the international level. The invent of globalization and liberalization in India brought with it an upsurge in the Indian market that considerably altered its shape and structure. With a GDP growth of 6.8 percent per annum during the 90’s alongside a foreign exchange of $35 billion and a live stock market which would attract substantial foreign exchange made India an alluring market which has maintained its momentum and growth. India’s second largest market is the apparel industry with $3.5 billion (Data monitor). In the past and till the present time, organizations in order to obtain overseas funding used to sell their single branded products to common public. In the retail outlet, investment of 51% was allowed in individual branded products. An increase in the number of local designers who have benefited from international identification recently is one of the major reasons for this expansion. Other factors like the introduction of related courses for business education indulged in developing designers and creating an association with the industry are responsible for such growth in the Indian fashion industry as well. According to the estimations made between mid 2008 to 2012, the fashion industry of India was expected to increase by 178% by the year of 2012 and meet $189 multi millions as per US (United States) currency. This growth in the industry is hinged on a substantial increase in huge fashion incident...
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This imminent change in the consumption pattern of Indian consumers is perhaps a direct consequence of the change in their attitudes in the first place. Increased exposure through media such as the television, foreign travelling for work or higher education, introduction and proliferation of the world wide web specially with regards to the havoc creating social networking sites, etc have cause the Indian population to embrace western culture more readily and as such the globalization of international brands has been welcomed by consumers in India with a new wave of approval and acceptance. This has also wholesomely had reflection on the cultural thought process of Indian consumers precipitating a new kind of demand altogether wherein they have begun to feel the need to possess such high end products which they feel are in some way indicative of social status.
The global fashion and apparel industry is a giant with annual turnover of approx. $1.7 trillion and provides employment to approx. 75 million people. With globalization and increasing competition amongst manufacturers, coupled with lower production rates in the developing countries, buying clothes has become way inexpensive than before. Add to it the fiercely growing internet penetration and fast catching up ecommerce industry, clothes are more or
Jasper, Summer and Dak, also known as the Trio, have come up with a design for a new women’s jacket. The jacket is a black, gold studded, floor length garment perfect for the style conscious market of 14-23 year old girls. The jacket will include logo branding and be mass-produced for a wide market. However, the Trio is so wrapped up in their creative process that they need guidance on how to protect their intellectual property.
Their research argue that the traditional consumer habits have changed and that the stereotypes are deemed dated. The rise of the new trending is formed after the increase of the upper-middle class in 1st tier cities. The values of the new sophisticated class of Chinese consumers resemble that of the western consumers. The this study the research looks into the medium that influence the perception of Chinese consumers, an example of a medium is the social media. Social media like the fashion magazines that push the view of brands. In addition the international brands make their way more and more into the Chinese market place, I.e. high profile fashion promotional events in 1st tier cities like Shanghai and
Barbara Calderón-Douglass’ magazine article, “The Folk Feminist Struggle Behind the Chola Fashion Trend,” published April 13th, 2015 on Vice, a digital media and broadcasting company, writes to a generalized audience as a previous chola who resents the fashion trend appropriated by pop-culture. She explicitly argues its ineffective execution in culminating the true essence of cholas and neglect in considering the struggles and values that which formed the chola culture.
“This New York Fashion Week, models and editors are stylishly dressed but fashion designers are naked. Legally naked, that is” (Scafidi, Rodriguez, NYT). Fashion design is a form of art. Currently there is no set of copyright laws to protect fashion design. Consequently, especially within the past 10 years, fashion designers have struggled to protect their form of art. Americans concerned with the future of the fashion industry started to stand up for the industry and propose acts to protect it, yet none have been successful enough to pass. Based on information from The Council of Fashion Designer Association, most fashion designers would agree, this needs to change. Fashion designers should have fashion design copyright
The other day I was walking back to my dorm room and I saw someone wearing a shirt that read "Fcuk" across the front. If looked at quickly, one would think that there was some modern profanity being displayed on the front of the shirt when, in fact, there was none. The writing on the shirt actually is a label for a company by the name of French Connection. All this begs the question, is fashion becoming more brash, or is it emphasizing on the American right to freedom of speech? Furthermore, are some people taking that constitutional right too far? Clothing and fashion has always had a language of its own. Throughout the ages, the style in which one dresses has defined one's position in society, one's political views and one's occupation.
The notion of luxury has been present in various other forms. The role was unique in earlier times as it is now. Earlier possessions of raja’s and maharajas were considered to be luxury. Division of social class structure led to this difference where luxury was limited to rich people that is whatever poor people cannot have and elite can this was termed as luxury. During the last 10 years, the luxury sector has undergone drastic change. Barriers that were present earlier has been lowered down due to globalization and social media. Globalization has spread like fire for the growth of fashion industry and market strategies have attracted the consumers significant shifts in cultural values and beliefs, consumer preferences and
While growing up did you ever have an eye for details or design in the world of fashion? Did you ever find yourself mesmerized by the latest styles and pieces in fashion? If any of these questions have ever crossed your mind then fashion consultant could the perfect career choice for you. In a world of fashion you have multiple tasks and skills you must bring forth to show your worth in the fashion game. I found passion in all of the areas of this field which is why I’ve shown an interest in this career.
Introduction India is the world’s second most populated country with over 1.2 billion people. Since its independence from British rule in 1947, the country has been more or less a stable democracy. Until 1991, Indian governments imposed economic austerity and its markets were comparatively closed to the world. Economic reforms in 1991 brought about a change which made India an attractive and huge market for multinational corporations from all over the world (Joshi 8). Retail industry within a globalized world is one of the most thriving and profitable sectors.
For the past several decades, globalization has been a hot topic and it also anticipates every aspect of the world to connect each other. Likewise, globalization also allows consumers to have more access to catch up with updated fashion. The advantages of globalization bring a new philosophy called fast fashion, which holds quick response time and enhanced design in fashion apparel industry. In this paper, I will deliver By exploring all the aspects of each system, I will conclude the reason why fast fashion becomes the mainstream of the fashion apparel industry, and use one particular brand, Zara, as an example to discover the impact on consumer behavior in detail. Finally I will make some comments on the future of fast fashion and what luxury brands will react to this circumstance……..
Is an Indian fashion online retailer which focuses on fashion and casual lifestyle products. It is founded by MUKESH BANSAL, ASHUTOSH LAWANIA and VINEET SAXENA in February 2007. Its Headquarter is in Bangalore and it is one of the top e-commerce companies in India. The regional offices are in New Delhi, Mumbai and Chennai. Myntra.com has been funded by top tier venture capital funds like Indo US, IDG and ACCEL Partners. Company began its Business to Business (B2B) segment with the personalization of gifts such as t-shirts, mugs and caps to name a few. However, the company shifted its strategy in 2010 to become a Business to Customer (B2C) oriented firm and expanded its catalogue to lifestyle and fashion products. Myntra.com has tied up with top fashion and lifestyle brands in India, such as, Nike, Adidas, Lotto, Fila, Puma, Reebok, JOHN MILLER, Lee, Decathlon etc.
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
1.1 Background Information The task I am assigned to do is authorized by Pokhara University and ACE Institute of Management in partial fulfillment of the requirements for the degree of Bachelor of Business Administration. This proposal writing assignment was guided by our course instructor Mr. Prakash C. Bhattarai and with his help and my interest I selected the topic: An Overview of the Fashion Boutique Industry of Nepal. I have always been interested in fashion. When I was given this opportunity to do a project work on the interest of my choice, I had no doubt it was going to be related to the fashion industry of Nepal. The fashion industry worldwide seems to be at its glamorous height, with its reach from New York to Paris to London and Tokyo.
In an article called Cultural Factor Highly Influences On Consumers & Their Buying Behavior – In Indian Context, the basic characteristics of culture are described:
Many companies have realized through extensive research on the Indian economy that Indian consumers are hugely influenced by different methods of advertising. Indian consumers mostly use to purchase the home durables like Television, Refrigerator, Air conditioners, etc., with only ads in mind. Consumer attitude and behavior hugely influenced by advertisements, as example Life Good (LG) and Samsung are the brands that are most popular in Indian market due to the advertisements, on the other hand Onida the old brand which used to provide huge sales in early 1990’slacked in sales due to less advertisements, as per their manufacturing of products with wide range and less on price, but still the taste are not for consumers.