The history of branded fashion industry is always precisely associated to the history of people behind it. During this past century, it was the retailers, designers and couturiers which laid the foundations to collaborate in order to create design of the modern fashion industry that we know and familiar with. The liberation of women from corseted confinement, the creation of ready to wear clothing, fashion shows, window displays, logos, licensing, lifestyle brands, marketing and even far beyond reach to the protection of intellectual property rights are each a direct result of the ingenuity, bravery and creative genius towards each of the individuals, who were in their lifetimes, stylistic and social visionaries (Businessoffashion.com 2015). …show more content…
Generation Y otherwise referred as the millennial generation which are born between the years 1980 and 2000 and they are have the intention of purchasing branded fashion products (Cekada 2012). In addition to that, they are also viewed as the generation with a very high buying power (Nowak, Thach and Olsen 2006). It is because they mostly come from a family that earns high income or categorized as an upper middle social class in their society. Furthermore, Generation Y also tends to seek out the authentic, unique and exclusive brands fashion products (Yazici …show more content…
It shown that generation Y have direct influence towards all the purchasing decision of their parents. Additionaly, in Malaysia, people can easily get access of personal loans and credit card thus it make generation Y consumers took the opportunity and can afford branded goods as well as tend to be more consumerism compare to other generations. These underpinned with the report done by Asian Institue of Finance (2015) where the majority of generation Y in Malaysia are living on high cost borrowing with 38% loans and 47% engaged in credit card. Moreover, generation Y may spend all of their own money as soon as they receive it and most of them usually spend on personal services and consumer goods (Martin and Turley 2004). Hence, the culture of generation Y is all about buying and spending. In reference to Martin and Turley (2004) the most top three purchase categories among generation Y are clothing, entertainment and followed by
In Australia, there are over 5000 fashion labels and more than 2000 companies exporting. One of the most influential Australian fashion designers is Carla Zampatti. In 1960, she started her brand with only a small collection that was launched two years later. Carla’s first boutique opened in 1973 and in the 1990’s the Australian Fashion Industry named her “Fashion Designer of the Year”. After multiple achievements and high honors, in 2015, Zampatti celebrated the milestone “50 Years of Fashion”.
The Dumbest Generation- How the Digital Age Stupefies Young Americans and Jeopardizes our Future (Or, Don't Trust Anyone Under The age of 30) published by the Penguin Group in 2008 was written by Mark Bauerlein. Bauerlein is a professor of English at Emory University and has previously worked as the director of Research and Analysis at the National Endowment for the Arts. During his time as director, he also oversaw American life and culture. The Dumbest Generation is a national bestseller and has caused a “swift and judgmental response from the media” according to Bauerlein in his preface to the paperback edition of The Dumbest Generation. In The Dumbest Generation Bauerlein writes about this generation's drive to learn and how it is dissipating quickly.
According to Professor Jeffrey Bosworth, in his editorial “Hunting for Hope in Modern America,” he discusses the “screwed” millennial generation and the potential they have to be successful, despite current existing United States problems. Bosworth explains this from three different perspectives: the current issues in America, the positive attributes of the millennial generation, and what the millennial generation should do to succeed. In Bosworth’s opening proposition he elucidates the “[millennial] generation is screwed”. He expounds the millennial generation is predicted to “do worse than the previous generation”.
Children of post war America are the most effective demographic gathering ever. Organizations flourishes or comes up short in light of their capacity to keep pace with the preferences and aversions of this financial powerhouse known as the people born after WW2. At 76 million in number, boomers have the impact to control the commercial center and ensure they keep a spot set only for them as the biggest era. Because of its substantial size, the Baby Boom era has significantly affected society, business, and the economy. The effect of the era has been felt in every aspect of buyer spending, from expanded offers of child items when they were youthful; to rising interest for houses as they set up their own particular family units; to development in retirement funds vehicles as they get ready for their senior years.
The fashion was very important to women at that time and because of what happened in the 1920’s and can be considered as a cornerstone in the foundation what is today’s fashion industry. Today’s fashion industry is bigger than it was ever and to see it’s still making roots in this world and there no stopping now. It was an amazing liberating power that fashion gave women from the time of World War 1 and it is clear that the women’s liberation movement that began with World War 1 had a huge impact then and still lingers today. More importantly, the attitude of empowering women to take control over their own bodies and freely and unashamedly express their femininity was born in the 1920’s and made a great revolution, not only women acquired freedom but also furnished them the chance to craft and live with fashion and it has only grown more powerful with
The documentary, Merchants of cool, describes an evolving relationship between the vast teenage population and corporate America. The film provides an in-depth look at the marketing strategies and communication between these groups. Adolescents are shown as learners and adapters of the fast-paced world; they’re constantly exposed to fashions and trends. These young adults have a lot of disposable income and are willing to spend it, in order to gain social popularity. In other words, they are chasing ‘cool’.
Introduction and Company Background The report is about the strategic appraisal of Louis Vuitton which is mainly a French based fashion house and founded by Louis Vuitton in 1854. The report will incorporate a brief background of the company as to its core business emulated by the industry it operates in. The background will further proceed with its geographical markets, the products and services being offered, their makret segments, their imperative stakeholders and what generic strategy is being followed by them.
The word fashion design, the fabrication of fashionable clothes, originated from Paris, France. Paris was known to influence fashion and it also had names like fashion capital, fashion became more influential in the nineteenth century to the mid-twentieth century. Jen Viegas claims that individuals first wore clothing about 170,000 years ago after the “second-to-last ice age.” Scientific researchers performed on lice’s DNA because of the relation between clothes and lice. The first, fashion designed piece was a dress, History of Fashion states that the royal court was the original inspiration for the expansion of the dress, the royal court would often get their pieces made anonymously.
The latter generations central focus during “the postwar era looked forward to having children because they were confident that the future would be one of comfort and prosperity” (History. Com) so begins the dawn of the middle class and Master card. The Millenials, on the other hand, is a generation whose spending habits are powerful and care less about the purchasing of merchandise they never had. Their purchases are either for a need or for enjoyment and can they spend the least amount of money getting it. Their spending behavior boils down to where they are willing to spend their money and what the experience was like spending money with the retailer dictates their motivation in spending money with the retailer again.
Foremost, with the U.S. millennial generation in mind, many of us seem to see a carefree teenage generation. In reality, millennials are expected to be the largest living American generation, and soon, their effects will affect the country in such a great measure. This generation is not like any other generation in history. Millennial generation is evolving tremendously with the rise of all the new technology and its drastic changes. The way things worked in the past has immensely changed over time due to the new introduction of the immeasurable ways of coming of age.
According to Natalia Borecka (2017), only 14% of major brands are run by female designers, even though the majority of fashion design graduates are women. (para. ????) Furthermore, the fashion industry of today is sexist in a more covert way. It tries to sell women a fake sense of empowerment, for example using symbols and slogans of women’s liberation movement on clothes and in advertisements.
The globalization process has lead to shorten of this production cycle across the entire fashion industry to just two weeks. The “on-trend” clothes that were at one point of time only available to thin rich urban fashionistas are now available to a wider audience at a lesser and more affordable price. Death rate of fashion has increased as a result of the changes in the lifestyle and the society. The society has become more accessible and people are now looking for a change. And this change was marked by the introduction of “Fast Fashion”.
Fashion can find expression and be coded by materially and visually in forms of color, shape, texture and branding, and must be created and spread inside cultural fields combining local and global systems. Fashion is not just a social practice concerning clothing and address. It is more of an expressive sensibility favoring novelty and individuality, which energizes facets of both monetary production and personal consumption.
Fashion is my method of self-expression. The clothes we choose to wear gives us control over how others perceive us and affects how we feel about ourselves. From wearing black at the Golden Globes in support of the Time’s Up movement to the traditional Chinese Qi Pao, clothes can show solidarity without words or act as a way for us to connect to our cultural heritage. This is why fashion is important to me, because it allows me to tell a story about who I am and who I aspire to be. I have chosen to further my Management studies at the London College of Fashion because the MA Fashion Design Management covers themes essential for managing a successful fashion brand, which has always been a dream of mine.
Driving forces provide a framework to decide where and how to exercise market leadership. In this case, globalization is one of the main driving force that affect the fashion industry. Gap was recognized as a must have brand. However, through the years it has been losing competitive advantage due to the continual change. During the last years, Gap has been facing struggles because of its clothing design and faltered misjudgment fashion trend.