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FAST FASHION IN USA Essay Example

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FAST FASHION IN USA

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Of the article since it not only concentrates on the marketing strategies but also shows how these organizations have managed to achieve economic advantages over their competition both in terms of costs and time. The establishment of warehouses all over the world for instance is one of the key strategies that Forever 21 has adopted to ensure that it reduces the lead time from demand to the supply of these products to their retail stores and other departmental stores selling their products as well.The insights offered by this article are highly reliable since a consideration of the information provided by the article and analyzing it with the information provided by other sources shows a high level of similarity. Forbes magazine for instance assessed how Forever 21 rose from a mere retail outlet in small space to the large company it currently is through a critical analysis of the various advantages that Korean fashion market has over its competition from other areas. Forbes however, outlines how the transition of Forever 21 from its simplistic nature to its current size has not been a smooth sailing, emphasizing more on over 50 lawsuits waged against the organization for copyright infringement.The article also shows how much the teen market is the leading market share which is targeted by most fashion organizations. Abercrombie & Fitch uses a similar business model as Forever 21, since it not only emphasizes on the latest fashion trends, but also offers them at relatively affordable prices, making it affordable for the middle and low class as well. However, as Zillman (2014) argues, fashion trends emerge and die out faster in the contemporary society at an alarming rate, a factor that has made this limited flexibility company (Abercrombie & Fitch), to lose a sizeable share of their market to highly aggressive competitors who are willing to trim prices and supply the products faster than the market can exhaust them. Maxx another fashion retail outlet highlighted in Moon’s article uses a different model from all the rest. The organization, which barely focuses on producing its own products, accommodates the fashion from other designers and sells it vigorously in its retail outlets. The business model adopted by the organization is equally efficient in the creation of market, since the market caters for the varying tastes of the people in the contemporary society (McGregor, 2008). This model has kept the business afloat, and even during the

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References

Fashion Workshop. (2011). Good Housekeeping, 252(11), 77.

Ho, S. (April 29, 2009). Forever 21 Fortune. Retrieved on April 6, 2014 from http://www.forbes.com/2009/04/29/billionaire-retail-forever21-korea-rich-09-wealth.html

McGregor, J. (2008). TJX: Dressed To Kill For the Downturn. BusinessWeek, (4105), 60.

Moon C. (March 17, 2014). The Secret World of Fast Fashion. Retrieved on April 6, 2014 from http://www.psmag.com/navigation/business-economics/secret-world-slow-road-korea-los-angeles-behind-fast-fashion-73956/

Patton, P. (2008). Urban Outfitters. Fast Company, (122), 53-56.

Zillman, C. (2014). Abercrombie: Still struggling through its awkward phase. Fortune.Com, 1.

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