Critical Thinking Thesis Based on the Local Fashion Industry Essays

Critical Thinking Thesis Based on the Local Fashion Industry Essays Critical Thinking Thesis Based on the Local Fashion Industry Essay Critical Thinking Thesis Based on the Local Fashion Industry Essay Essay Topic: Critical Thinking Outline Topic: The fashion industry of Trinidad and Tobago. Narrowed Topic: The challenges encountered within the local fashion industry. Thesis question: Does the local fashion industry possess the vitality to triumph over its’ various challenges, and ultimately arrive at the level of the international fashion industry and hence maximise its’ success? Topic Outline1. The local fashion industry2. The challenges encountered3. The international fashion industry4. The benefits of development 5. The Solution| Sentence / Question OutlineThe current position of our fashion industry. There are numerous challenges faced by the individuals leading the industry; as well as those who would like a future in the fashion industry. At what level is the international fashion industry operating on, as compared to the local fashion industry? There are numerous benefits to be derived from the improvement of the local fashion industry. There is a need for a change in the approach to the business of fashion by those involved, in addition to the need for the future operators of the industry to â€Å"go hard† and go beyond the norm that exist in the industry today. The fashion industry is essential and moreover here to stay. Clothing is a basic need of human beings, which the fashion industry then adds creativeness too, to suit each individual’s meticulous desires, needs and style. The fashion business can be lucrative to business owners, as it is to the economy. But is the local fashion industry on this level of profitability? Is the local fashion industry capable of reaping such benefits? It’s only when we know where we are, that we can assess the situation and determine the route that we ought to go. The current leaders Peter Elias, Meiling, Claudia Pegus, Heather Jones, and Diane Hunt are self taught designers with stores and a few have websites which give information about themselves and their brand. Peter Elias has an article called ‘Trend Watch’ in the Sunday newspapers, which his advertisement usually follows. But what impact do his efforts create? Customers benefit from his clothing; he provides employment and mall owners’ benefit by their spaces being rented. Diane Hunt created the local Fashion Week, while Meiling and Claudia Pegus can be captured doing interviews for the Basia Show and other local TV channels. Diane Hunt provides employment, clothing for her target market, and the expectation of drawing more awareness to local designers through Fashion Week. But is Fashion Week marketed adequately that Trinidad and Tobago and other countries flock to see the local designers hence creating sales, or is it an event where people dress up and watch the show just for a night out? These designers don’t give out catalogues, highlight their store locations, nor do they have shopping carts on their websites for international customers or home shoppers locally to purchase. In what direction are these current leaders taking this trade to? Are these designers serious about their business or is this their lack of theoretical business education being displayed? Any business fashion manuscript tells you to be a success in this industry you need 90% business skills and 10% design skills; I am of the view that these designers appear to have only the 10% design skills. Heather Jones, Meiling and Claudia Pegus hardly if ever promote their brands. How much revenue could they possibly make with this approach to business marketing or the lack thereof? It may be seen that they don’t have sufficient funds to advertise; but is the lack of funds a viable excuse when institutions such as NEDCO, Scotia Bank and the Business Development Company offer loans to expand businesses in fashion? These established designers have better luck at approved loans as opposed to a ‘newbie’. The current leaders of the industry seem comfortable in their present position and give the impression of being somewhat non competitive, almost even laid back. Would the graduates of the UTT’s Design and Fashion Management programme now shake the present leaders out of their slumber? This may be why students have cited that designers seem threatened by their knowledge and prefer to sideline them, so as not to be put in the shade. Are these â€Å"Top† local designers really in a state of slumber, or are the challenges they face making it appear this way? These designer items are highly priced, and most citizens operate on a tight budget with little or no disposable income. This could affect these designers market share and affect their bottom line. But are these items strategically highly priced, or is it the result of challenges? These designers face higher overhead cost, as there are no fabric mills locally, and designers have to source their fabrics from overseas, then pay to ship the fabric, and pay customs taxes when it’s delivered. These charges now have to be added to the price tag of the garment, along with other operational costs. Designers also seem stagnant in extending their product lines as well because if they want to create a shoe or handbag line, they have to find an international manufacturing company, and once again pay to ship and clear these items which again would raise the proposed selling price. There is also the perception of the fashion industry of Trinidad and Tobago is not a glamorous one in which you can turn a millionaire; to the likes of Ralph Lauren. These factors pose challenges to the young people in the secondary school system that aren’t looking at the local designers as role models but instead view international programs such as Project Runway and love the thrill of the fashion industry. These young fearless minds see themselves being successful designers such as Donna Karen and others; however, parents may not understand why their children would want to do subjects such as Clothing and Textiles or Art. This industry looks unpromising in the eyes of parents with the perception that these subject choices are for slow children, or those who aren’t good in the Math, Business or Science subjects. It can be seen that there are many challenges faced by those leading the industry presently as well as those who hope to enter the industry. But can the challenges faced by the future players’ of the industry be solved if we fix the challenges faced by the current leaders? Indeed, if current leaders overcome their hurdles, be creative and industrious, a more favourable light could be shun upon the future of the industry. At what intensity is the international industry operating on, compared to the local fashion industry? When the international fashion industry is researched, the revenues made are very clear, so one can see the success level achievable, and it’s easy for one to want to be as successful as this company and work towards it. Locally on designers websites you can’t get an idea as to their level of success if so. Internationally the fashion industry is flooded with designers, who understand that if they want to stay afloat in such a busy industry, they themselves have to be busy and have a omprehensive marketing plan or strategy to enable them to stay relevant, remain profitable and most importantly, stay in business. How many local designers have ever done a marketing plan? If we search online we would see no results for local designers, but if we searched for example GAP’s marketing plan, we are sure to find their plans for several years. But is it our culture to say , I don’t need such a plan; does this show a lack of business sense? Is it our culture to just be laid back, whereas in the U. S they seem not to even have time to speak as everyone is so busy? Some might agree that it’s a culture thing, that ‘Trinbagonians don’t care whether a Sunday falls on a Wednesday’, but again it could be viewed as effects from the lack of resources locally. In the U. S a fashion house advertises online, in newspapers, in magazines, on television, on the radio, and on billboards. Locally only a few designers advertise in the newspapers. Internationally, the fashion industry sells in their country and globally as well. Local designers operate at a level which I think is alarming to anyone who is business savvy. Has it not dawned on these designers to find ways to market their collections internationally to increase sales? Do these local designers just wait for things to fall into their laps, or are they dreamers instead of go getters? No matter what good initiatives the Prime Minister takes to develop the industry, it cannot grow without these designers thinking outside of the box and making things happen for themselves. If the graduates of the UTT’s Fashion programmes with their practical and theoretical skills get into the industry with that international vigour, only then will the current fashion leaders wake up and see what they should have or could have done. Cleary it can be seen that with the current state of the local fashion industry, there is a great need for development in order to reach the full potential of the fashion industry. There should also be the inclusion of the footwear design and manufacturing programme at the UTT in order to facilitate the creation of a shoe manufacturing company in this country. Having developed the students of the programmes and more being trained in the fashion area, this would give birth to higher standards, and more innovation from the future leaders of the industry through competition, as the market would become more saturated with skilled and business savvy graduates. The youths now in Secondary schools could say that not only am I studying Clothing and Textiles and Art for CXC, but after which I shall be pursuing my Degree in Fashion Design or Fashion Management, which may fall on their parents’ ears a lot easier. Having qualified themselves in this way, they have the option of working with these designers to see how they operate and distinguish how they can operate better. Students would not be limited to working for a designer, but be able to launch their own businesses. This trickles down to creating employment and diversifying the economy. This boom would create a demand for other services such as shoe manufacturing, handbag manufacturing, garment manufacturing and even our own fabric manufacturing mill. It’s a shame that stores in Trinidad and Tobago are full of items bought from the US and a few from Margarita. Imagine how fruitful our economy would be if everything in our stores were made in Trinidad or Tobago. There is a need for a change in the approach to the business of fashion by those involved, in addition to the need for the future operators of the industry to â€Å"go hard† and go beyond the norm that exist presently in the local fashion industry. The new generation of the industry has to outshine the average standards already set in the fashion industry locally and work relentlessly towards creating a fashion industry in this country that meets the level of the international fashion trade or is great enough to even surpass it. The challenges faced by the fashion industry can be triumphed over if we want to rise above them. Nothing happens on its’ own without applying the necessary action. In order for growth to take place as the saying goes ‘you can’t know where you are going unless you know where you are’. This is the mediocre position that we are in, and if we operate with the strategies that are tried and tested by international billion dollar fashion businesses that started from scratch, only then will we be on our way to creating a Fashion industry in Trinidad and Tobago that the current leaders would not have thought ever possible or even know how to begin creating to place for Trinidad and Tobago high on the global Fashion map.