Globalization and the Fashion Industry. In a certain sense, the Western economy has been "global" since the sixteenth century. After all, the African slave trade, colonialism, and the intercontinental trade in sugar and coffee made capitalism possible. But since the early 1980s, transnational corporations, cyber technology, and electronic mass media have spawned a web of tightly linked networks that cover the globe. Taken together, these forces have profoundly restructured the world economy, global culture, and individual daily lives. Nowhere are these changes more dramatic than in the ways dress and fashion are produced, marketed, sold, bought, worn, and thrown away. For consumers in dominant Western countries, globalization means an abundance of fashions sold by giant retailers who can update inventory, make transnational trade deals, and coordinate worldwide distribution of goods at the click of a computer.
The Global Assembly Line Sweatshop producing Nike apparel Source Immigrant Labor Responses to the Global Assembly Line. How American Eagle Dodged the Teen Retailer Trap | Intelligence | BoF. PITTSBURGH, United States — For its first global advertising campaign, American Eagle isn’t relying on the typical teen-retail tropes to send its message. You won’t find fresh-faced, unreasonably tanned models running on the beach or palling around a campfire.
Instead, the Pittsburgh-based company appears to be focusing on that uniquely millennial mix of individuality and collectivism, enlisting fashion industry cool-kids like photographer Cass Bird and stylist Sara Moonves to capture a cast of young influencers, from actress Hailee Steinfeld to musician Raury, in black-and-white portraits. Each image is tagged with both #WeAllCan and a personal declaration. For instance, “Black-ish” actress Yara Shahidi chose the statement “I can be heard,” while YouTube personality Troye Sivan said, “I can love who I want.” Troye Sivan and Xiao Wen Ju in American Eagle's #WeAllCan campaign | Source: Courtesy “So many brands market to this customer in a canned, pre-packaged way. Related Articles: How Zara's founder became the richest man in the world - for two days.
Image copyright AFP/Getty Images Browsing the rails at Zara, you might not be aware of this: but there's an 80-year-old grandfather in northern Spain who helped pick out what you're taking to the till. Amancio Ortega stepped down as chief executive at Zara's owner, Inditex, five years ago. But he didn't give up work. Not at all. Even this week, when the company's rising share price made him the richest man in the world for two days, he wasn't ready to retire. Image copyright Getty Images Every day he still makes the 10km journey from his town centre house to the Inditex headquarters, based just outside the coastal town of La Coruna where he first launched the Zara brand. Sometimes he sits down with the Zara Woman design team and they kick around ideas for the coming weeks and months - the new layout for a store, a new design for the upcoming winter collection. This was not Mr Ortega's first time at the top of the tree.
"When Amancio was telling me this, he was terribly emotional. Britain Now World's Cheapest Luxury Market | News & Analysis | BoF. LONDON, United Kingdom — In the wake of Britain's vote to leave the EU, which pushed down the value of the pound about 10 percent against the euro, the country has become the cheapest luxury goods market in the world, helping to buoy British luxury labels, at least in the short term, according to new research by Luca Solca, the head of luxury goods at Exane BNP Paribas. "The Brexit vote has made the UK the cheapest market in the world for luxury goods,” Solca told BoF. “A weak British pound will boost travel inflows to the UK, helping British luxury goods players like Burberry, Mulberry and Jimmy Choo.
" While luxury goods companies are not expected to raise prices in the UK in the coming months — at least until there is more clarity around exactly when and how the country might exit the EU — Britain should see a boost from tourist inflows and spending due to its weakened currency. Economy Of Fashion: How Different Trends Reflect The Financial State. It's common knowledge fashion is cyclical in nature. The concept of “newness” in fashion doesn't refer to the premiere of a trend, but rather its revival. Why fashion cycles in this manner, however, is less obvious.
There are lots of factors at play: cultural trends, politics, celebrity influence. One one of the most surprising factors to influence the cycle of fashion, though, is the state of the global economy. If you think about it, it makes sense. When money’s tight, fashion is one of the first indulgences a consumer will sacrifice to save money. During tougher times, if you need new clothes, the focus is less on passing fads and more on classic, quality pieces worth the expenditure because they’ll last (which also aids in cutting down cost per wear).
As FIT professor John Mincarelli tells ABC News, “In rough economic times, people shop for replacement clothes,” adding “basics” prevail during an economic downturn. Pinterest Once the market crashed, longer skirts became de rigueur. How? Luxury Daily. British heritage brand Burberry is demonstrating the importance of beauty personalization as it introduces its latest mascara. For the launch of Cat Lashes mascara, Burberry has partnered with social platform Pinterest to create individualized inspiration boards based on consumers’ beauty preferences. Recently outfitted with ecommerce capabilities, Pinterest has emerged as the go-to platform for sharing favorite products, discovering new must-haves and exploring how-to tutorials, making it ideal for beauty promotions. “Pinterest is the largest beauty platform in the world with 38.5 million unique hair and beauty viewers, who come to Pinterest to find inspiration, tips on creating the look, as well as the latest products,” said Radhika Prakash, brand and creative strategy at Pinterest.
“As the world’s catalog of ideas, our mission at Pinterest is to help people discover and do things they love,” she said. “Because of this, Pinterest is highly personal. Burberry's Cat Lashes mascara. Primark blames the weather for falling sales. Image copyright Getty Images A warm winter and a cold spring has been blamed for a fall in sales at low-cost fashion retailer Primark. Shoppers left winter clothes on the rails in the run up to Christmas due to unusually warm weather, and a cold March and April depressed sales of summer clothes. As a result Primark, like other stores, had to cut the price tag to sell them. The retailer expects like-for-like sales, which ignore new-store sales, to fall 2% for the year to 17 September.
"If the weather's warm consumers make do with clothes from the previous year," said Maria Malone, principal lecturer for fashion business at Manchester Metropolitan University. For retailers like Primark that causes a problem as they source their clothes from the Far East and South Asia and cannot adjust their stock to reflect the weather conditions. "Once stock is on its way you can't turn the ships around," points out Ms Malone. Pound impact Pension deficit.