Apparel and Footwear by jennyyingdi

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									                                                     Apparel and Footwear “Teaser” Industry Report




Industry Analysis


Apparel and Footwear
                                                                                                                   Q1 2012
Industry Overview
Four girls walking down the streets of Manhattan wearing designer labels – Chanel, Dior, Gucci, Hermes, Louis
Vuitton, Manolo Blahnik, Prada and Versace, among many other royalties in the world of fashion. The television
series turned blockbuster movie Sex and the City (SATC) has undoubtedly nurtured the love for fashion and labels,
not only of millions of American women, but also of those in other corners of the globe. As the show shot to
popularity, women craved for Samantha Jones’ Birkin, Carrie Bradshaw’s Vivienne Westwood wedding dress,
Charlotte York’s Prada skirts and Miranda Hobbes’ Louis Vuitton handbag. According to Sondra Grace, a professor of
fashion design at the Massachusetts College of Art and Design, SATC has had a great influence on the fashion
sense of the masses over the past decade. It also paved the way for more shows that centered on fashion –
America’s Next Top Model, Gossip Girl and Fashion Runway.
Mark Twain once said, “Clothes make the man. Naked people have little or no influence on society.” The love for
fashion and the need to cover one’s self from the harsh impacts of the elements fuels the apparel and footwear
industry. This industry gives each individual a chance to define himself before a word is uttered upon introduction.
Clothes do indeed make the person. A powerful communicator, clothing is a primary component of one’s image. A
piece of clothing or a pair of shoes can attract attention, command respect or inspire trust.
The apparel and footwear industry encompasses manufacturers and designers of apparel, accessories, footwear,
and textiles that are used for apparel. It includes makers of high-end apparel, accessories, and footwear, which are
luxury goods such as handbags. Companies in this industry cater to two types of consumers: the practical consumer
and the fashion-conscious consumer. For the first category, they provide sensible and affordable clothing whose
styles will not change drastically from year to year. For the second category, the companies attempt to provide styles
of clothing that keep up with the current seasons and trends.
There are three categories of apparel companies: manufacturers, jobbers and contractors. Manufacturers perform the
                                                                                *Full report contains insurance-focused research
whole range of production, including designing, buying textiles and fabric, cutting, sewing, finishing, and arranging for
                                                                              including: critical analysis, statistics, and qualitative
sale. Jobbers perform all parts of the process except that they contract out sewing and finishing. Contractors perform
                                                                               commentary, along with Advisen analytics such as
sewing and finishing for jobbers and occasionally for manufacturers. U.S.       MSCAd Large Losses & Insurance Program Pricing
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