1.03 – The Fashion Industry

The Fashion Industry’s Impact on the U.S. Economy

• Fourth leading employer in the U.S.

• Apparel industry– Over $20 billion in annual

sales– Employs over 1 million

people

U.S. Apparel Industry(don’t write this page)

• Womenswear

• Menswear

• Infants and children

• Accessories

The Womenswear Industry• Womenswear: All apparel worn by

females aged 14 and over.• ***Largest and most important retail

segment• ***More than 60% of all apparel sales• Employs hundreds of thousands of people• From small family-owned businesses to

multi-million dollar corporations

Menswear Industry

• Menswear: All apparel for males aged 17 and over.

• Produces billions of dollars worth of merchandise yearly

• Changes slowly, but interest and demand continue to grow

• Sportswear is fastest growing segment.

Infants’ and Children's Apparel Industry

• Infants’ apparel: Babies and toddlers under age 3.

• Children’s apparel: girls ages 3 - 13 and boys ages 3 - 16.

• Increasingly more important to economy • Stable apparel division due to demand

for children's fashions in general. • Better children's garments include

designer labels such as Tommy Hilfiger.

Accessories

• Accessories: Articles added to complete or enhance outfits.

• Impulse items that bring additional revenues to companies

• ***Extend a consumer’s wardrobe; • ***Especially important in poor

economic times

Household Industry

• 40% of all textile products• ***Average product lifespan is 10 years.• Colors and patterns slower to change

than in apparel

Household Industry

• *Floor coverings division– Carpeting– Area rugs, oriental rugs, and throw rugs

• *Home furnishings division– Window treatments– Furniture

• *Domestics division– Bed and Bathroom items– Table and kitchen linens

Four Major Segments Of The Fashion Industry***

• Textiles• Apparel

manufacturing • Retail• Auxiliary group

Textile Segment

Textile segment: The initial segment in the fashion process.

• ***Steps include:– Fiber production– Yarn production– Fabric manufacturing– Fabric finishing

Apparel Manufacturing

• The part of the fashion industry that produces finished garments and accessories.

• Functions of the apparel segment include:– Designing– Manufacturing– Apparel selling

Retail Segment

Selling merchandise directly to consumers.– Store buys from manufacturer or wholesaler– Store sells to the consumer– ***Example: Kohl’s

Auxiliary Group***

Individuals and groups of individuals that support and function simultaneously with the retail, apparel manufacturing, and textile segments of the fashion industry.

Auxiliary Group (cont.)

– Consultants: Researchers and forecasters who provide information about colors and other trends that are occurring the consumer marketplace.

– Advertisers: Individuals who visit fashion markets and shows then produce and publicize the latest fashion trends to educate consumers members of the fashion industry.

– Promoters: Trade associations, ***trade publications, ***models, modeling agencies, ***photographers, and others that play a part in promoting merchandise.