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1.03 – The Fashion Industry
The Fashion Industry’s Impact on the U.S. Economy
• Fourth leading employer in the U.S.
• Apparel industry– Over $20 billion in annual
sales– Employs over 1 million
people
U.S. Apparel Industry(don’t write this page)
• Womenswear
• Menswear
• Infants and children
• Accessories
The Womenswear Industry• Womenswear: All apparel worn by
females aged 14 and over.• ***Largest and most important retail
segment• ***More than 60% of all apparel sales• Employs hundreds of thousands of people• From small family-owned businesses to
multi-million dollar corporations
Menswear Industry
• Menswear: All apparel for males aged 17 and over.
• Produces billions of dollars worth of merchandise yearly
• Changes slowly, but interest and demand continue to grow
• Sportswear is fastest growing segment.
Infants’ and Children's Apparel Industry
• Infants’ apparel: Babies and toddlers under age 3.
• Children’s apparel: girls ages 3 - 13 and boys ages 3 - 16.
• Increasingly more important to economy • Stable apparel division due to demand
for children's fashions in general. • Better children's garments include
designer labels such as Tommy Hilfiger.
Accessories
• Accessories: Articles added to complete or enhance outfits.
• Impulse items that bring additional revenues to companies
• ***Extend a consumer’s wardrobe; • ***Especially important in poor
economic times
Household Industry
• 40% of all textile products• ***Average product lifespan is 10 years.• Colors and patterns slower to change
than in apparel
Household Industry
• *Floor coverings division– Carpeting– Area rugs, oriental rugs, and throw rugs
• *Home furnishings division– Window treatments– Furniture
• *Domestics division– Bed and Bathroom items– Table and kitchen linens
Four Major Segments Of The Fashion Industry***
• Textiles• Apparel
manufacturing • Retail• Auxiliary group
Textile Segment
Textile segment: The initial segment in the fashion process.
• ***Steps include:– Fiber production– Yarn production– Fabric manufacturing– Fabric finishing
Apparel Manufacturing
• The part of the fashion industry that produces finished garments and accessories.
• Functions of the apparel segment include:– Designing– Manufacturing– Apparel selling
Retail Segment
Selling merchandise directly to consumers.– Store buys from manufacturer or wholesaler– Store sells to the consumer– ***Example: Kohl’s
Auxiliary Group***
Individuals and groups of individuals that support and function simultaneously with the retail, apparel manufacturing, and textile segments of the fashion industry.
Auxiliary Group (cont.)
– Consultants: Researchers and forecasters who provide information about colors and other trends that are occurring the consumer marketplace.
– Advertisers: Individuals who visit fashion markets and shows then produce and publicize the latest fashion trends to educate consumers members of the fashion industry.
– Promoters: Trade associations, ***trade publications, ***models, modeling agencies, ***photographers, and others that play a part in promoting merchandise.