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Fast fashion retail and production

By FashionUnited

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Fast fashion is a term used by fashion retailers

to explain an optimized manufacturing model based on rapidly changing consumer needs and a quick market response. New collections, their development and their supply chain are completely driven by the philosophy of capturing the most recent fashion trends at an affordable price.

Some large retailers like H&M, Topshop and Zara have become well known for their fast fashion strategies. They offer quickly manufactured trendy clothing collections and allow mainstream consumer to take advantage of relatively low prices. In many ways fast fashion is the ultimate success-story.

For having a short 'product life cycle' and making 'design’ available to mass markets, fast fashion clothes has also become associated with disposable fashion. Some media even question the future success of fast fashion retailers and their sustainability. Quotes like "Fast Fashion is like Fast Food" and "Is fast fashion killing fashion?" are often used to start a discussion and create public awareness. In favor or not, fast fashion has made a huge impact on consumer behavior and most of our wardrobes.

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High street fast fashion no longer cheap and cheerful London


Is the end of fast fashion UK in sight? Last week, the directors of the UK's largest high street clothing groups, from Next to Debenhams and Primark, warned that prices could rise in the coming year.

A 45% rise in the price in the price of cotton to a 15-year high could not be ignored, they said. Silk, too has staggered in price, with some fabrics costing £20 per meter. At the same time, retailers are juggling higher labour costs in the south-east Asia, the impact of a weaker pound and a rise in VAT to 20% from January.

Next's chief executive, Lord Wolfson, was the gloomiest, and in words likely to strike fear into the hearts of fashionistas predicted: "The era of ever-falling prices for clothes is over". The price of Next's clothes are going to rise by up to 8% in 2011 and Wolfson said he suspected shoppers would have to cut back on the number of new outfits they buy: "Our best guess is that if prices go up 8% then the number of units sold will be down 10%. The clothing retail industry hasn't experienced price increases for 15 years and the truth is we don't know what the response will be."

Neil Saunders, consulting director at Verdict Research, says consumers are facing what could be a permanent change in the clothing market: "Prices can't keep falling forever: they reach a floor, and we are now at a point where retailers' margins are really quite thin. Because of the recession they are finding it difficult to shift significant volume, which means that when things come through with a little bit of extra cost, that has to be passed on."

Monday, 20 September 2010
Source: Observer
www.fashionunited.co.uk/fashion-news/design/high-street-fashion-no-longer-cheap-and-cheerful-201009209577

Bestseller redefines fast fashion


Bestseller, the makers if apparel brand Jack & Jones, a complete wardrobe brand is chalking out retail expansion plans in India. The company plans to add 50 exclusive brand outlets to its existing nine.

Vineet Gautam, Country Head India, Jack & Jones avers, “We are targeting the metros, Tier I and II cities for the next one to two years. We have already finalized few markets like Mumbai, Ahmedabad, Surat, Pune, Baroda, Goa, Delhi, Chandigarh, Amritsar, Ludhiana, Jalandhar, Lucknow, Dehradun, Jaipur, Bangalore, Hyderabad, Chennai and Kolkata. Our ideal format is a 2,000 sq. ft. store but in key markets we would be opening bigger flagship stores.” As far as MBOs are concerned, they are already present in Lifestyle and Shoppers Stop and are looking to expand majorly with national and regional chains.

Even though it’s a complete wardrobe brand, denims is their main focus. Targeting consumers in the age group 14 to 40 years, Jack & Jones’ USP lies in coming up with new fashions every week much on the lines of fast fashion. They do about 12 collections a year in tune with the latest trends. “Currently, it’s the colored denims that are in, especially white. It’s been an excellent hit with us. Also, skinny fits and low rise denims are quite in style. Through our washes, fabrics, patch work and embellishments, we try to give our customers value for money,” explains Gautam.

Jack & Jones has various lines under its brand. Their core line is ‘Jeans Intelligence’, which is a cool denim wear for casual jeans lovers between the age group of 18 and 25. ‘Jack & Jones Premium’ is for consumers between 25 and 40. The collections have an array of classic designs and a playful charming youthfulness combined with updated evergreens. Premium Tech is the sports line. This is basically aimed at consumers who lead an active outdoor life. Premium Vintage, yet another line which has distressed jeans; treated to give that second-hand look. The T-shirts and sweats usually have a faded color, the fabric is soft and the shirts include flannel and classic Oxford button-downs.

As far as sourcing is concerned, the company gets the same garments that are there in their stores globally. “We pick and choose from the global range what is right for each market in India. We source globally through our buying offices in Italy, Turkey, India, and China. As far as delivering country specific products are concerned, we might look at filling the range which is much more suitable to the Indian consumer. But our idea is to deliver international fashion to the Indian consumer. We do not plan to do a signature line for India as of now,” elucidates Gautam.

Their target turnover for 2010-11 is Rs 100 crores. The brand plans to launch e-commerce in India.

Friday, 11 June 2010
Source: FashionUnited
www.fashionunited.co.uk/fashion-news/design/bestseller-redefines-fast-fashion-201006118632

Fast fashion remains buoyant


The demand for fast fashion and inexpensive clothing is soaring, as proven by the recent growth in revenue by Primark. Shoppers seeking cut-price fashion items helped Associated British Foods, the owner of Primark, beat expectations over the Christmas trading period and saw revenue rise 17 per cent in the first quarter of its financial year, or 11 per cent at constant exchange rates. Fast fashion UK.

Total sales at Primark rose 19 per cent in the 16 weeks to January 2, helped by the opening of new stores. The group did not break down sales at the like-for-like level, but Panmure Gordon, its broker, estimated they rose 7 per cent in the 16 weeks.
“The scale of the increase suggests we are gaining market share,” said John Bason, finance director. “Primark has been very much part of the growth in value clothing, we’ve seen a big increase in that sector, and the trend has been accelerated by the current economic conditions.”

Although expressing caution over economic conditions this year, Mr Bason said Primark’s cut-price offering meant it was “well-placed . .. even in an uncertain climate”.

In the year to September 2009, Primark accounted for 25 per cent of total group sales of £9.3bn. Mr Bason said he expected its strong growth to continue, with plans to open more UK stores this year.

The grocery business, which is ABF’s largest division with more than one-third of total sales, saw turnover rise 4 per cent after a strong performance by the Twinings tea and Ovaltine brands. Sales from sugar, which comprised about 17 per cent of turn-over in 2009, jumped 23 per cent, helped by a more stable EU sugar market and a “terrific” sugar crop harvest.

Warren Ackerman, analyst at Evolution Securities, said: “It is the first time in many years that all three of ABF’s largest divisions are firing on all cylinders at the same time.”

The shares rose 10½p to close at 870p.

Friday, 15 January 2010
Source: FT
www.fashionunited.co.uk/news/leads/fashion-fashion-remains-buoyant-201001158048

Entrepreneurs excel despite tough retail climate and fast fashion


Global economic downturn hasn't stopped the surge of emerging labels and new designer collections popping up. Bank managers and corporate investors may not exactly be willing to handover dollars, pounds and euros to fashion start-ups (why would they when their own institutions are crumbling at their very foundations) but there are plenty of entrepreneurs launching apparel lines who are savvy enough to secure their own funding and who haven't let the stagnant retail market affect their ventures.

So are these new designers and brands bonkers or rather pioneers? Small-business experts say that anyone with a distinctive point of view and unique product has a good chance of making it during any economic down period. With so much generic product available, shoppers are looking for freshness and newness when they spend their hard-earned cash. Over-priced, low-quality goods seem less interesting and fast fashion has failed to obscured a demand for well-made product that shows integrity and relevance. Anyone can bedazzle a t-shirt or add a print to a garment, but that doesn't mean it's fashion. Rather, it takes the skill of a designer and healthy dose of business acumen to launch a new brand.

When designers increasingly find themselves without contracts and surging unemployment, it's proving a good reason to start a new company and launch their own labels. Perhaps creatives don't consider the economic crisis an obstacle as such, rather the need to execute their vision and create beautiful things takes over, which no retail slump could ever subdue. Fast fashion London.

Monday, 02 November 2009
Source: FashionUnited
www.fashionunited.co.uk/news/leads/entrepreneurs-excel-despite-tough-retail-climate-200911027817
Fast fashion