FUTURE FASHION

RETAIL CHAIN STORES V SERVE U THE FASHION

INTRODUCTION
One will be amazed to see how different events can have an effect on how people gets dressed during different times. For instance, during World War II people were only allowed to use the minimum amount of clothing materials needed to create simple outfits that were practical enough for wartime duties. Additionally, sometimes changes in political power have affected how people dressed during different times. For example, high ideals were presented from the White House while Ronald Reagan was president in the 1980s. The overall message that this project is trying to convey is that today there is an ideal that you could become as successful as you believe to be. Therefore, today many people get dressed for success. For eg :- A large number of men and women wore suits and office clothing that would help them move up the corporate ladder.

Some fashions are classic, meaning that they stand the test of time and may never go out of style. However, other clothing items are just fads, meaning that they are only in style for a short season and then no one seems to want to wear those certain clothing items any more. Sometimes the popularity of a particular outfit or accessory depends upon the tastes of a particular group of people. For instance, one clique (tight-knit circle of friends) during the 1980s may have been into wearing ripped jeans with a leather jacket while others preferred to dress in casual slacks and a buttondown shirt.

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At Future Fashion , we try to help the fashion and home furnishing industries make the transition to sustainable materials. Fashion uses more water than any industry other than agriculture. At least 8,000 chemicals are used to turn raw materials into textiles and 25% of the world's pesticides are used to grow non-organic cotton. This causes irreversible damage to people and the environment, and still two thirds of a garment's carbon footprint will occur after it is purchased. That's why there is a need to make sustainability a trend thats here to stay . Our FutureFashion initiative provides guidance to designers, manufacturers and distributors to help them transition to sustainable materials and methods. Our runway shows demonstrate to industry and consumers that our choices can make a truly lasting fashion statement. Together, we can put sustainability in style.

Why this project ????

Everybody today is into fashion. It is the individual taste in fashion that differs from person to person. Anywhere you go, fashion clothing stores are always making brisk business. That is also precisely the reason why a fashion clothing store needs to have an edge over its competitions. There are just too many fashion clothing stores out there. Most successful fashion clothing stores have a few things in common: competitive prices, a great selection of clothes and accessories, attractive packaging (marketing) and yes, a catchy name / brand / tag. A business obviously want its patrons to remember its store and also want them to associate the name of the store with its merchandise.

We are actually entering into this field because we think that we will have a great deal of edge over our competitors in the fashion world because of our unique idea we are not going to serve anything new to anyone but are only going to revive what already has been disappeared from the eyes of the individuals rather than offering them a whole new type of product , we are going to serve them with past fashion trends in a unique and new as well as in a modified way that meets the requirements of 21st century

PEST ANALYSIS

PEST Analysis for GAP

Politics Globalization has been a current trend to every industry which also includes the apparel and fashion industry in which is due to the construction of import international facilities and establishment. It has been noted that when products are traded regulations and policies are present. With these regulations and policies, companys operations may be impaired. Some countries also control the entrance of foreign companies which would also affect the process of operation of these companies. Large tax implementation is one of the controls that government usually pursues. With such government control many companies are impaired and usually can not operate on those countries. In the case of the regulations in the retail industry it has negative impacts because the regulations in the retail industry could easily be changed beyond the established limit and will affect the business adversely, in addition companies such as target will obtain higher costs in expenses due to the changes. Furthermore, changes and transformation in overtime regulations and the share of the retail stores in the healthcare bill. It has a huge effect on GAP negatively or positively. In the case of the regulations in the retail industry it has negative impacts because the regulations in the retail industry could easily be changed beyond the established limit and will affect the business adversely, in addition companies such as target will obtain higher costs in expenses due to the changes. The healthcare bill, on the other hand, will have positive effects on GAP because the bill will aid in controlling the prices of the medicines in the market which in return will help the consumers, as well as the company. Economic

During the period of 2004 to 2006, a change in consumer preferences in apparel is more apparent. Many underground sales of unbranded apparel are very common. It even extends to the export of these apparel to many Asian countries. Another factor that would affect the external environment of Target is the US economic growth; the rapid or slow growth may have a positive or negative impact on the business. If the growth is fast then consumers will have higher purchasing power, on

the other hand, if the economy is very slow then it will also have an effect on the attitude towards purchasing products. Another is the low-cost destinations sourcing; it will either affect the economy positively or negatively. Positive, in the sense wherein the company will have more consumers because of the cheaper products offered. On the other hand, the local suppliers would be affected because the company prefers outsourced products.

Socioeconomic With the increasing globalization of business, society has also been more concern with the degradation of the environment and a continuous concern for the benefit of the employees. The society has call for attention to industries for social responsibility. This includes human right protection of corporate employees, consideration for the health and safety of consumers, and contribution to local communities. And with the increasing global environmental issues that arise with the globalization, people are now increasingly aware of the effects of the continuous industrialization. Another factor is the rise of the population of the retiree, companies such as GAP wherein it has numerous employees will have a hard time obtaining more employees, the retirement of employees is rapidly getting higher while the replacement does not increase.

Technological development It has been noted that apparel and fashion industry has experience a rapid technological changes over the years. This fast changes has lead to a more sophisticated, with a significant apparel and fashion items present in the present time. To provide comfort and aesthetic value, while still being friendly to the environment, these new fashions use the latest developments of many different technologies. The utilization of new software and technology for faster production and marketing, which is more helpful and useful because it makes the job of the employees and management easier and error free.

There are a number of opportunities for GAP to grow and these are the apparel industry in Asia industry, GAP must give more emphasis on this sector because consumers buy apparel products that have low prices and is closer to home wherein GAP has the characteristics. The weaknesses of the target company include the fact that the organization has not yet expanded to rural areas in the Asian continent. In addition, the size of the stores of GAP is lower compare to other retail companies in the Asia. Lastly, the image of the company which is a retail store that caters to apparel hinders the ability to obtain market share in other aspects of the retail business. Emergence of new knowledge resulted from a publicly financed, scientific problem solving. Eventually, the generation of this new knowledge is not primarily for application purposes or for any guided interest. However, such there are new knowledge which usually carries some commercial business potential. Evidently, national capabilities in exploiting these opportunities of new knowledge differ from each other.

Moreover, as what is really the fact, Chinese nationals tend to rely heavily on personal relationships as what they call as guanxi in business dealings (1994). In China's new, fast-paced business environment, guanxi has become extremely important. It has in large part filled the vacuum and is more entrenched than ever, heavily influencing Chinese social behavior and business practices (1990). Guanxi provides the lubricant for the Chinese to get through life. It is a form of social investment. No company in the Chinese business world can succeed unless it benefits from an extensive guanxi. In addition, guanxi binds literally millions of Chinese firms into a social and business web. Sales force marketing, an activity heavily dependent on guanxi, has become an increasingly popular and effective marketing means. In addition to marketing personnel dispatched by head office, companies in China often set up regional sales offices in major target areas. Furthermore, China is a planned economy that adds to the difficulty of marketing in the country. All China's purchasing activities are guided by a planned economy, the annual economic plan. If a need is found for a product not envisaged by the planners, the product will be subjected to a long examination process.

Finally, there are Chinese cultural biases which involve negative associations between product promotions and the perceived value of that product. The Chinese think that aggressive promotions cheapen a product and that cheap products are never good. Chinese consumers do want tobuy American made products that are associated tastefully with events and people, particularly celebrities, in the United States. In order for a business to survive in China (Hong Kong), it is significant to know the cultural practices of the country. In a transition to a market focus business, marketing is very important. These would include knowing the target market, knowing the customer needs, defining value proposition, then winning over the customer and lastly having a continued communication to the customers to be able to be updated with the ever changing customers needs and preferences.

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