Planning and control in an industry as notoriously fickle as fashion is a major challenge. Although fashion designers and retailers seek to dictate style and taste at the seasonal shows in the world’s leading fashion capitals, customers are also influenced by celebrities from TV, music, movies, sports, and so on. New fashion can also spring up unexpectedly from parts of society unconnected with the traditional fashion industry: from certain groups of young people, and others forming a counterculture. While some aspects of fashion apply globally, local preferences, tastes and cultural norms still exert considerable influence. As H&M note, in addition to the fickleness of the fashion industry, fashion retailers face other uncertainties, including weather conditions, macroeconomic changes, sustainability concerns and external factors in production countries, trade interventions, foreign currency and tax.
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- Planning and Control
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- Chapter 8