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Overview of the Korean Apparel Industry Essay - 1687 Words

Overview of the Korean Apparel Industry


Korea's apparel industry has shown steady growth over the past few years with the rapid embrace by its consumers of foreign fashions, an increasingly wider variety of apparel in the marketplace and evolving industry marketing channels. The emergence of new distribution networks for apparel has occurred in tandem with changing consumer tastes and purchasing patterns, most notably through E-commerce, TV home shopping, fashion outlets, and discount stores, which for the most part, weren't in existence before the 1997-98 economic crisis. These new channels now account for 40% of all apparel sold in Korea, while traditional channels, such as department and chain stores, comprise the remaining 60%. It is expected that these relatively new marketing options for apparel companies will become even more important in the near future, as Korean firms strive to meet their consumers' increasingly demanding preferences for a wider variety of purchasing options. At the same time, a more diverse selection of apparel has become available for consumers, especially with the larger number of Korean firms offering imported fashions. As a result, more and more Korean consumers have been switching from domestic apparel to foreign brands, while they also have shown greater interest in foreign-labeled apparel that is produced locally. In 2002, the total market size of this industry was USD 15.9 billion, up 5.5% over 2001, and it is forecast to grow by 3%, to USD 16.4 billion, in 2003. END SUMMARY

A. Apparel Market Profile

In 1975, a "ready-to-wear" Korean clothing industry first developed, providing momentum for Korea's emerging domestic fashion/apparel industry. With the increase in Korea's GNP by the 1980's, and more women entering the workforce, this industry had developed into one which had begun to offer its customers increased choice in styles and fashions. By the mid-90's, the apparel sector had become firmly established as one of Korea's most important, with over 15% growth per year, and sales reaching USD 15 billion by 1996. However, with the onset of Korea's economic troubles in 1997-98, apparel registered a sharp decline in activity as consumer spending for clothes fell, and, as a result, many local firms went out of business. During these challenging two years, most Korean fashion companies once again redirected much of marketing focus on the middle-priced markets. However, within the last five years, the Korean fashion industry has largely recovered, and sales, especially of imported high-end luxury apparel are again spiking upward.

Since the last 1990s, competition from leading foreign brand apparel makers has been intensifying, prompting Korea's apparel firms to further modernize and to expand their selection. Accordingly, most domestic manufacturers have been diversifying their product lines; the country's distribution structure has started to change and distinct "fashion centers", including the Kangnam and Apkujung areas in Seoul, have became established. In addition, Korea's domestic manufacturers have been devoting increasing attention to customer service, by offering better sales options, enhanced product quality, and more choice in fashions. At the same time, the low-end markets have also evolved with increased imports of relatively lower cost apparel, mostly from China, which in turn has contributed to the development of a network discount distribution retailers, offering this apparel. INTRODUCTION

Korea's major consumers of new apparel have become younger, with their average age ranging from the 30s to the 40s, while the number of its professionals also has grown. In addition, increasing numbers of Korean women have joined the work force. As a result, the average spending per person on apparel goods in 2002 has gone up 8.2% since 2001, to USD 226 per year. As depicted in the following table, the Korean apparel market has registered.

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Coco Chanel’s Influence in the ApparelIndustry Coco Chanel’s influence in the fashion industry began over a century ago during the 1920’s. Chanel embraced the essence of the “Roaring Twenties” which was all about becoming “someone” and separating yourself from the old and beginning a new life. Chanel focused on the newly found needs and desires of women and designed her fashion around what women had wanted. Not only did Coco Chanel pave the way for modern fashion, she also created innovative ideas using fabrics that were traditionally used for menswear. These fabrics were incredibly durable which allowed Chanel to construct new designs with less fabric than what would have been traditionally used. One of the major fabrics that Chanel included in her lines again and again was wool jersey. This fabric is comfortable and easy fitting, but at that time, had not been considered suitable for fashionable clothing. This was an incredible influence that Chanel had in the fashion industry because she showed the world that wool jersey’s can be used in fashionable clothing. Coco Chanel also had created a modern spin on embroidery for women’s clothing. Instead of using more fabric, such as lace, Chanel decided to decorate the clothing using beading and embroidery. Coco Chanel also frequently accessorized her clothing with multiple strands of pearls, quilted handbags, sling-back ivory pumps with black toes and of.

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Retail trade is one of the traditional businesses of Bangladesh. Its expansion is keeping pace with population growth and changes in consumption patterns, which are consistent with the growth of the economy. This expansion has not been structurally organized, because, until recently, retailing had never been perceived as an industry . but rather as an individual or family business entity with a very limited scope of organized expansion. Little to no market information is available on the retail sector, but secondary sources indicate that the size of the food retail sector in Bangladesh could be US$12-14 billion, and the number of retail grocery shops could be around 1 million. Retail is one of the biggest sources of employment (12 percent), and it contributed 13 percent (wholesale and retail trading) to Bangladesh’s GDP. Organized retail is booming and creating huge opportunity for enterprises. Retailers though sell other companies products work out their own marketing strategies fixing their own target market towards providing customer satisfaction separately. Retail stores irrespective of product line and relative prices emerge in all shape and sizes, such as Specialty stores, Department stores, Supermarkets, Superstore, Convenience stores, Discount stores and off- price stores. Types of retail shop in Bangladesh: There is a wide variety of retail shops in Bangladesh, ranging from open-air temporary shops to well-equipped modern.

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INTRODUCTION The Indian Textiles Industry has an overwhelming presence in the economic life of the country. Apart from providing one of the basic necessities of life, the textiles industry also plays a pivotal role through its contribution to industrial output, employment generation, and the export earnings of the country. Currently, it contributes about 14 percent to industrial production, 4 percent to the GDP, and 17 percent to the country’s export earnings. It provides direct employment to over 35 million people. The Industry is closely linked to agriculture, the ancient culture and traditions of the India, making Indian textiles sector unique in comparison with other countries. This also provides the industry with the capacity to produce a variety of products suitable to the different market segments, both within and outside the country. TEXTILE PYRAMID One can identify the whole industry as a pyramid in itself, starting from the production of fiber through natural or man-made resources, to the manufacturing of garments & made-ups, which are then either used domestically or exported. FIBRES Within the fiber sector, cotton remains the most significant raw material for the textile industry . India was the 2nd largest producer (4.76 Million Metric Tons) of cotton in the world during 2006-07, accounting for 18.45% of global production. During 2006-07, India had the most land.

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Dynamics of the ApparelIndustry Fashion industry . comprising textile and apparel is the second largest business in terms of global trade and is valued at USD 1.44 trillion. The Indian fashion industry currently accounts for 14% of the manufacturing sector and is 4.5% of GDP. India is one of the largest manufacturers of textiles and apparels and contributes significantly to the world trade in this sector. The ApparelIndustry comprises of organisations that design and sell clothing, accessories and footwear. These can be broadly categorised as apparel manufacturers and apparel retailers. Traditionally, apparel companies were wholesalers, selling goods to retailers. However, in the present scenario, the point of differentiation between wholesaler and retailer is becoming increasingly difficult. The supply.

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ANALYSIS OF APPARELINDUSTRY ANALYSIS OF PAKISTANI INDUSTRY Submitted To: SIR QAZI SALMAN 11/12/2012 Submitted by Faryal Khan () Anas Rafique (5229) Marium Masroor (5240) Table of Contents Chapter 1 Contents Chapter 1 2 Chapter 1 2 Chapter 1 Industry size and outline Apparel . “Apparel means clothing in general or readymade garments which is ready to wear” (dictionary) Types of fabrics used for apparel production: * Acetate * Acrylic * Broad cloth * Brocade * Challis * Chambray * Chiffon * Cotton * Crepe * Damask * Denim * Drill * Faille. * Flannel. * Flax * Gabardine * Georgette * Hounds tooth * Moiré * Nylon * Organdy * Oxford * Polyester * Pongee * Rayon * Silk Steps by step process of manufacturing garments Design/sketch: In the process of manufacturing, sketching take place designs of cloths and their details are sketched. Pattern design: The pattern drafting method is used for the designing a pattern and the purpose of making this pattern is to create the sample garment. Sample making: The pattern is then sending to the sewing department so they will assemble it into a garment, this is usually stitched on calico or muslin which is.

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further. (Fast Retailig, 2012) Rare: - The rarity of FR-Uniqlo is they use high techniques and high class materials for their products. Products of FR-Uniqlo are superior quality with reasonable price. However, there are many existing companies in the same industry have the same point but FR-Uniqlo has a product called HEATTECH which is very rare when compare to their main competitors. (Guardian, 2011) Imitate: The business model is easy to imitate, but FR-Uniqlo strong relationship with supplier is very hard to imitate, FR-Uniqlo products such as heat tech, which is very rare and hard to be imitated by others. (Guardian, 2011) Organisation: Despite SPA business model, FR-Uniqlo recognized four regional head offices and these head offices will be tasked with ensuring resourceful inventory control and store development in every region and improving management accuracy and efficiency. (The Economist, 2010) FR-Uniqlo Vertical Business Network Above the chart represent the vertical business network of FR-Uniqlo as their main suppliers are China and Japan and other suppliers are Vietnam, Bangladesh and others. Kaihara Corporation, based in Fukuyama city, Hiroshima Prefecture is known within the denim industry . The collaboration between FR-UNIQLO and Kaihara dates back to 1998 when FR-UNIQLO opened its first ever urban store in Tokyo’s trendy Harajuku area. Kaihara has proved strong supply relationship with FR-UNIQLO ever.

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Retail Industry 1 Retail Sector in India-An Overview In emerging markets around the world there has been a close linkage between economic Development, rise in per capita income, growing consumerism, proliferation of branded products and retail modernization. With high economic growth, per capita income increases .This, in turn, leads to a shift in consumption pattern from necessity items to discretionary consumption. Furthermore, as the economy liberalizes and globalizes, various international brands enter the domestic market. Consumer awareness increases and the proliferation of brands leads to increase in retail space. Thus, retailing is a part of the development process. The retail sector in India accounts for 22 per cent of the country's gross domestic product (GDP) and contributes about 8 per cent to the total employment. India continues to be among the most attractive investment propositions for global retailers. India has emerged as the fifth most favorable destination for international retailers, outpacing the UAE, Russia, Indonesia and Saudi Arabia, according to A T Kearney's Global Retail Development Index (GRDI) 2012. The report also highlighted that "India remains a high potential market with accelerated retail growth of 15-20 per cent expected over the next five years.” SIZE OF MARKET: • India's retail sector is worth US$ 350 billion and is growing at a compound annual growth rate (CAGR) of 15 per cent to 20 per.

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Global Business Operations Solar Panel Industry Student Name: Student Number: Introduction The solar panel industry is a niche market dominated by a small number of large firms. Five out of the top ten biggest players in the industry are Chinese firms. Solar panels capture sunlight and convert it into electricity, in one of two forms; photovoltaics OR concentrated solar power. The industry itself is a volume based industry . due to the large market share dominated by a small number of players, furthermore, the solar panel industry not only cooperates with, but also competes with other industries such as power production and component manufacturing industries . The Solar Panel Industry The Shape of the Solar Panel Industry With five out of the biggest solar panel producers worldwide being Chinese, it is no surprise that 45% of solar panel production across the globe is by Chinese firms. The solar panel industry is the fastest growing power technology in the world, with reported yearly increases in capacity of 50%. Consisting of mainly 10 firms, the industry isn’t large in terms of suppliers, however, the combined revenues of these 10 firms account for $21.7bn, thus the industry is large in revenue as well as.

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Meijer 9,500,000 8,000,000 Apparel Stores Company 1999 Sales (000) 1998 Sales (000) Gap $11,635,398 $9,054,462 Limited 9,723,334 9,346,911 TJX 8,795,347 7,949,101 Intimate Brands 4,510,836 3,885,753 Spiegel/Eddie 3,210,225 2,935,411 Bauer Department Stores Company 1999 Sales (000) 1998 Sales (000) Sears $29,775,000 $30,429,000 JCPenney 18,964,000 19,114,000 Federated 18,217,000 15,833,000 May 13,869,000 13,048,000 Dillards 8,677,000 7,770,000 INTERNATIONAL OUTLOOK Imports and Exports: The largest suppliers of imports of apparel products to the U.S. market are China, Hong Kong, South Korea,

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