Essay On Fashion Industry

2.1. Introduction

According to statistics, the population of Western Europe spends on the purchase of goods of the fashion industry about 10% of their income, in the USA 5%. If to include all types of goods into the fashion industry’s economy, mainly satisfying the aesthetic and social-prestige needs rather than narrowly utilitarian, on their acquisition, in accordance with experts estimations, accounts approximately 40% of expenses of developed countries citizen’s family budget’s.

2.1.1. Historical Background

Nowadays, the fashion industry is one of the rapidly growing industries around the world. “Fashion” takes it’s beginning in the era of the Renaissance and affected the whole world by dictating the “rules” of Western Europe style. At this period of time weaving machinery had been perfecting and led to the increasing demand of the expensive cloth. In the epoch of Renaissance was forbidden to wear “fashionable clothes”, which were made from the expensive textiles, to the middle or working class people; only superior people had a right to wear expensive and exclusive costumes .

The characteristic features of the fashion business market are seasonal and creatively expressed components associated with or promising designers collections. These features make the fashion business and industry dynamic. Since the brand has a strong impact on the functioning of fashion industry, the author reviews the characteristics of brand management on the basis of marketing communications. To do this, author uses the fashion market model (picture 1), built on the basis of the classification of brands made by Andreeva A.N. . This model represents a pyramid with the Couture on the top; after follows “pret-a-porter” de luxe and “pret-a-porter” premium category designers, then mass brands, which includes factory brands and brand retailers; and on the bottom of the pyramid is mass