Designer Apparel Market in Australia

1191 Words3 Pages
bulb-icon

Recommended: Impact of internet on marketing strategies

Industry Reports: 1 - Designer Apparel (Ready-To-Wear) in Australia Size The designer apparel market is quite large and it is expected to grow over the years due to people’s perception of luxury clothing as of high value. In 2008 the market size in millions was approximately $1,673.0 as compared to 2013, where it increased up to $2,063.2 as shown in the graph. By 2018, the market is expected to reach up to $2,411.1 million. (Euromonitor International, 2014a) According to Euromonitor International (2014a), the brand leaders in regards to brand shares (2012) are: • Ralph Lauren in number one position with 7.5% of brand shares • Then Berlei (Company: Pacific Brands Ltd) with 5.2% • Donna Karan (Company: Moet Hennessy Louis Vuitton SA) with 2.4% • Followed by Prada and Burberry at 2.2% • Other brands like Calvin Klein at 1.6% and Gucci 1.1% Competitive set The designer apparel market is extremely competitive and as a result companies are becoming more strategic in their marketing approach to compete with other brands. For example, companies have considered collaborating with other designer brands to produce luxury designs at affordable prices such as Sass & Bide collaborated with Havaiana and together they created a limited edition of thongs. Furthermore, there is a lot of competition when it comes to price harmonization as local retailers are encountered with pressure from consumers due to the differences in international prices. Therefore, it is evident that the designer apparel market is competitive and companies need to take action in order to compete and be successful. (Euromonitor International, 2014a) Trends According to the Euromonitor International (2014a) there are various trends in the designer apparel marke... ... middle of paper ... ...countries that successfully resisted recession during the Global Financial Crisis. The strength of the local economy has consequently represented the Australian market as an appealing source for international entrants. Weakness • Luxury brands and retailers in the Australian market must always be “up-to-date with changing consumer tastes”. The Internet is a big influence of these changing tastes, as consumers are expected to evolve as a direct consequence of the exposure to the Internet. • Premiumisation - is a commercial trend not predicted to die out any time soon. However, theorists are now suggesting “there is only so much premiumisation that can occur before products become unaffordable”, establishing that luxury brands must be aware to what extent their target market is willing to give up before they believe that the cost is exceeding the perceived benefit.

Show More
Related

  • LVMH: Diversification Strategy into Luxury Goods

    1494 Words  | 3 Pages

    By 2002, Moet Hennessy Louis Vuitton was the world’s largest luxury products company, enjoying annual sales of 12.2 billion euros. LVMH carries the most prestigious brand names in wine, champagne, fashion, jewelry, and perfume. Upon entrance of this luxury product industry, LVMH was aware that they produced products that nobody needed, but that were desired by millions across the world. This desire in some way fulfills a fantasy, making consumers feel as though they must buy it, or else they will not be in the moment, and thus will be left behind.

    Read More

  • Marketing: Burberry Target Audience

    944 Words  | 2 Pages

    The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...

    Read More

  • Rosewood Branding Strategy

    744 Words  | 2 Pages

    -Status symbols: Sophisticated customers who value the distinctive, exclusive collection seem to value the corporate-branded version of luxury. –Philip Martiz, chairman of the board

    Read More

  • Positive Trends in Emerging Markets for Luxury Goods

    1886 Words  | 4 Pages

    Trends that control the global luxury goods market are globalization, consolidation, and diversification (Tavoulari 1). Globalization is a result of the increased availability of these goods, additional luxury brands, and an increase in tourism. Consolidation involves the growth of big companies and ownership of brands across many divisions of luxury products. LVMH is one example, demonstrating to be one of the top luxury companies that dominate the market in segments ranging from luxury drinks to fashion and cosmetics. This growth in the luxury market has greatly extended the availability of luxury goods to a wider audience of consumers. Luxury goods have also become more affordable to a wider range of consumers due to higher incomes in a number of emerging markets, such as the Middle East, China, Russia, and India (Tavoulari 1). At one point you had to travel to Paris, New York’s 5th Avenue or Rodeo Drive to shop at the luxury stores. However, today you can find luxury brands in malls all around the country. You can also go online and find a wide selection of the luxury brands to shop to have delivered to your door. Examples are Gucci, Louis Vuitton, Prada, etc. Luxury goods are no longer limited to just the upper class. Like in the emerging markets, today more and more people feel entitled to luxury goods. They strive for an escalated lifestyle. It is now becoming an achievable necessity.

    Read More

  • Compare And Contrast Coco Chaneel And Louis Vuitton

    724 Words  | 2 Pages

    Luxury brands have enormous reservoirs of content, which can be tapped into. Few examples of which would include the birth of a particular pattern, invention of a new design, association with different artists, stories on lifestyle, art or culture that have relevance with their brand values and more. They can use any one or combinations of the above elements to recite their brand story and bring out the details of their brand universe through content marketing strategies.

    Read More

  • Fast Fashion Industry: Growth of Zara and Inditex

    1533 Words  | 4 Pages

    Hayes. S.G., & Jones, N. (2006). Fast fashion: a financial snapshot. Journal of Fashion Marketing and Management, 10(3), 282-300. doi: 10.1108/13612020610679277

    Read More

  • Prada: A Case Study

    2831 Words  | 6 Pages

    The high pressure luxury brand industry has evolved over the last few decades from a small and selective to a multibillion dollar arena offering significant potential and growth opportunity for the luxury brands that compete within its realm. With many luxury brands competing for over $225 billion (The Economist, 2009) in revenue each year it is easy to see how strategy plays an important role.

    Read More

  • Argumentative Essay On Buying Designer Belts

    841 Words  | 2 Pages

    Have You Ever Met A Person So Eager To Wear Designer Clothes, That They Buy Cheap Copies! In My Area it’s A Growing Problem. Did You Know 8 0ut Of 10 Americans Buy Cheap Designer Knockoffs And Get Conned Out Of Their Money, Due To Poor Quality. Another Key Factor Is A Trending Topic Of Buying Designer Belts. In Conclusion, I Will Be Talking About The Positive And Negative Effect Of Buying Fake Designer Clothes.

    Read More

  • Essay On Fashion Buyer

    835 Words  | 2 Pages

    In my eyes fashion is not only about the brand I wear or the expenses I paid for, it’s about the thrill and utter excitement I experience rummaging through my closet searching for the perfect outfit. I view fashion as more than just a hobby, I survey it as my duty to inspire others to venture out and find their own personal style. The career I’ve chosen is a Retail Buyer. It is the task of a buyer to go off to trade conventions and look for clothing to display at their store. However it takes more than just shopping, it is their job to examine each article of fabric and decide whether it will capture the attention of the people, from that the buyer chooses if it will be sent out for the world to see or not. The buyers must also determine the price for each merchandise. Without retail buyers our sales rack would be empty and there would be nothing to sell. My goal in this paper is for the reader to better understand the road it takes in becoming a fashion buyer.

    Read More

  • Indian Fashion Case Study

    1085 Words  | 3 Pages

    The Indian market as a whole and as such even the fashion industry outstretched its arms to the global market circa 1991 which marked the beginning of a new era, we commonly refer to as “globalization”. This entailed a retail boom which led to a veritable increase in the retail space for retailers both at the local and the international level. The invent of globalization and liberalization in India brought with it an upsurge in the Indian market that considerably altered its shape and structure. With a GDP growth of 6.8 percent per annum during the 90’s alongside a foreign exchange of $35 billion and a live stock market which would attract substantial foreign exchange made India an alluring market which has maintained its momentum and growth. India’s second largest market is the apparel industry with $3.5 billion (Data monitor). In the past and till the present time, organizations in order to obtain overseas funding used to sell their single branded products to common public. In the retail outlet, investment of 51% was allowed in individual branded products. An increase in the number of local designers who have benefited from international identification recently is one of the major reasons for this expansion. Other factors like the introduction of related courses for business education indulged in developing designers and creating an association with the industry are responsible for such growth in the Indian fashion industry as well. According to the estimations made between mid 2008 to 2012, the fashion industry of India was expected to increase by 178% by the year of 2012 and meet $189 multi millions as per US (United States) currency. This growth in the industry is hinged on a substantial increase in huge fashion incident...

    Read More

  • Essay On Haute Couture

    1549 Words  | 4 Pages

    A fashion capital is defined as a city that exerts international influence on the trends of the fashion world, thriving on consumers, designers, manufacturing, sites of consumption (such as department stores, highstreets, boutiques), and branding and marketing through major fashion events. These characteristics are all evident in the traditional fashion capitals, London, Milan, New York and Paris. The development of these universal fashion cities can only be fully understood if we look at their historic contribution to the production of textiles and the emergence of haute couture. Haute couture is high end fashion, exclusively designed, with meticulous detail, using high quality and expensive material. Whilst haute couture has been a major

    Read More

  • Clothing Industry and Competitive Strategies

    2574 Words  | 6 Pages

    Clothing industry in the U.S is a big but very competitive industry. It has a very high potential for firms to generate million dollars of profit. However, it is also a very tough environment to survive. Express Inc, Gap Inc, and Guess ? Inc are three of the U.S clothing companies who are experiencing the extremely competitive environment. Each company has its own competitive strategy to fight in the market. With Express, the firm tries to differentiate its products by creating unique, formal, luxury and sexy image in their minds. Gap, on the other hand, try to provide customers with high variety of products and prices. Guess tries to follow the fashion trend investment to attract its customers. Whatever the strategies are, the most important thing is archive huge market share and generating profit. This paper will provide some background, analyze the market condition, the strategies as well as give some recommendation for each of the three companies above.

    Read More

  • Essay On Apparel Industry

    990 Words  | 2 Pages

    The fashion apparel industry is very challenging and consistently changing; trend and consumers preferences change almost every month. Therefore, companies have to respond to changes in the market, and changing consumer preferences, to remain successful and to sustain their share in the market. One growing phenomena in apparel industry is fast fashion brands such as H&M, Zara, Mango and Top shop, which means “low-cost clothing collections based on current, high-cost luxury fashion trends—is, by its very nature, a fast-response system that encourages disposability” (Fletcher 2008) “A formerly standard turnaround time from catwalk to consumer of six months is now com- pressed to a matter of mere weeks by such companies as H&M and Zara, with heightened profits to match “(Tokatli 2008). Zara ability to react quickly to changes and customer fashion needs by focusing on the latest fashion trends instead of creating new designs, so Zara is a trend chaser, which helps Zara to save costs on product development and design. Using information technology (IT) becomes an important tool that helps fast fashion companies in capturing and analyzing real-time data to drive growth and anticipate better consumers preferences. Zara has successfully used high-integrated information technology system to dominate the retail fashion and...

    Read More

  • Essay On Costume Jewellery

    620 Words  | 2 Pages

    This industry has generally always remained in brisk business despite a downturn in 2009 that led to a fall of a whooping $18 billion business globally. The growth of Fashion Accessory business in India, specially, has been generally lukewarm since then. A company which was working under this sector was considered as useless during this t...

    Read More

  • Fashion Industry Case Study

    1441 Words  | 3 Pages

    The Nigerian Economy would be in the forefront of countries making waves in the world's Economy by 2050. Using The Fashion Industry as a case study. Fashion is a popular style or practice, especially in clothing, footwear, accessories, makeup, hairstyle and body. It is a distinctive and often constant trend in the style in which a person dresses. The Fashion Industry is a multi-billion dollar global enterprise devoted to the business of making and selling clothes. Fashion is best explained as the style or styles of clothing and accessories worn at any given time by groups of people. They may appear to be differences between the expensive designer fashions shown on the runways and the mass-produced sportswear and street styles sold in malls and markets around the world. However, the Fashion Industry encompasses the design, manufacturing, distribution, marketing, retailing, advertising and promotion of all types of apparel (men's, women's and children's) from the most rarefied and expensive couture (literally high sewing) and designer fashions to ordinary everyday clothing.

    Read More

More about Designer Apparel Market in Australia

Open Document