Apparel Industry in Global World

ABOUT THIS DOCUMENT

The pervasiveness of retailing in the western world leaves the perseverance hand for careful analysis. This document is intended to expertly address world-wide effects onto a single sub-industry of retail - specialty cloak. To do so, I will acquire perspective by considering in all recent global developments in the industry.

First, this document captures the current environment of the mall-based lifestyle apparel retail industry and unifies these findings to highlight globalization effects on the industry.

Second, the document projects the future landscape of the industry over 5 - 10 years horizon; and states genuine choices firms should embrace to better align with the industrys global environment.

APPAREL INDUSTRY IN GLOBAL WORLD

Apparel Industry Overview

As of 2004, the global apparel industry was determine at $768 gazillion dollars, and the United States made up $172.8 billion or nearly 22% of the total. The competition for these consumer dollars has accelerated with lifting of upshot quotas on textiles and apparel from most World Trade disposal (WTO) members in January 2005. Absence of these quotas enables apparel makers to procure high fiber merchandise from most reliable suppliers regardless of their country of origin. Nevertheless, galore(postnominal) apparel retailers and their suppliers will probably want to maintain novelty of sourcing to avoid being hurt by so called safe-guard, protectionist agreements (e.g. U.S.



limits apparel imports from China growth to 7.5% annually). Therefore, in-depth knowledge of global import quotas and duties stand for another competitive advantage opportunity - creation of more than efficient global sourcing capabilities.

At the most basic level, all of these retails fork up people with practical attire that is affordable and unlikely to flip in the years to come. As such, U.S. apparel industry is mature, saturated, and unwind growing (~4% annually). Consolidation has been prevalent in the industry; there were 22 $100+...

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