Success Factors in Fashion Industry

This study evaluates the different business practices -adopted by the fashion industry players – to determine the success factors that ensure the optimization of the available resources. Success factors of ‘’Fashion value chain’’ were explored thoroughly depending upon the financial information of 52 European\US clothing companies. After analysing the information gathered, for these business model categories, it was concluded that fast fashion based models were quite successful in terms of efficiently utilizing their resources. This conclusion is aided through the recognised success measuring (financial ratios) tools. Results of the studies were corroborated - to facilitate the understood/expected importance - of these key factors in today’s consumer driven fashion industry. Concluding from the data analysis Brand Retailers were found to be the most successful business model. Each model studied, exhibited distinct features in their own domains depending upon the core competences, however, most optimum results were harnessed using responsive strategies & with incorporation of agility within the value networks. Multi Brand Retailers were configured to the least successful model in the current fashion value chain scenario