Consulting opportunity Essay Example | Topics and Well Written Essays - 2000 words

Consulting opportunity - Essay Example Laurent (Ferdows., 2004). 1.1. Outline of the opportunity Fast Fashion is a type of disruptive business process. In this process, smaller firms and lesser-known designers copy designs, fabrics, materials, colours and other distinguishing features from the products of well designers who display their styles in fashion magazines and in fashion shows. These designs are then given to small and independent firms based in China, Vietnam and other developing nations where labour is economical. These firms are equipped with modern machines that produce the items very quickly and in large volumes. Original designers such as Dolce and Gabanna may take up to 18 months or more to manufacture their designs. The fast fashion firms use mass manufacturing and distribution methods to productionise the designs in just a few weeks (Fiorito, 2009). The fast fashion sector is growing at a rapid pace and it fills the need of men and women to wear affordable designs and clothes, too look good and be presen table. In 2010, Fast Fashion sector was worth 27 billion GBP and it makes up 12% of the UK apparel market. While a large number of Chinese manufacturers and suppliers are present, a number of established brands have also become fast fashion retailers. Some of the more popular ones are Zara, Uniqlo, GAP, H&M and others. Some top fashion houses and retailers have also adopted fast fashion methods to fill their displays with affordable clothes. Some of these are New Look, Top Shop, Asda, Armani Exchange, Abercrombie & Fitch, Forever 21, Urban Outfitters, MUJI, Comme ca ism, C&A, American Appeal, Aeropostale, American Eagle Outfitters, United Colours of Benetton and Next. Other reputed brands are also using some principles of fast fashion by getting their outfits manufactured economically and quickly from China. These brands include Mark One, Burton, BHS, Evans, Dorothy Perkins, Wallis and many others. Clearly, fast fashion has caught the fancy of small fashion houses and leading design ers (WGSN, 2011). Fashion has two distinct genres and these are Haute Couture or high fashion and Mass or Fast Fashion. Haute Couture is designer clothing where designers take up limited designs of their apparel and very few items are produced. Besides being custom stitched, these items are very expensive and an evening dress for women by a designer such as Dior or Armani would cost more than 50,000 GBP. These exclusive items are also displayed in exclusive and branded fashion stores on high street in selected cities and capitals. Customers who wear such clothes include celebrities, movie stars, rich business people and socialites who move in their own limited circle of friends. The genre of fast fashion includes apparel used for office wear, leisure and eveningwear, formals, sportswear and other items. These are affordable and cost from 30 to 80 GBP per item. There are for everyday use and for middle class people, students, working professionals who want to look good but who cannot afford the high rates of Haute Couture designs. In many cases, fast fashion items are copies of the high street fashion items with some improvisations and additions (Tungate, 2005). This report will present an idea to start a fast fashion brand