Moreover, it also contributes a lot to the economy by providing jobs. The fashion industry is not just about clothes and models but it encompasses much more than that.
The term “fashion” technically refers to all of clothing – from men’s suits, women’s dresses and accessories, to children’s clothing, while “fasion” refers to a certain style or trend. In terms of the economy, there are two major factors driving this growth:
1) Designers can make greater profits by selling their products worldwide and 2) The fashion industry has two major advantages over other industries such as financial services and manufacturing:
a) Its products are not limited in size or price due to its global nature
After Brexit, we had to do some serious rethinking of our business model. Without a clear vision, the future looks different than today and the way the world works today is not sustainable. In order to become more competitive in a fast changing industry, it’s essential that we look for new ways of generating revenue and building a brand in a global market.
The British Fashion Industry has always been heavily reliant on the UK economy. This economic boost comes from high levels of consumption taxes coupled with low wages and poor maternity benefits. But this trend is set to change following the decision by London’s High Court last week to reject plans by Marks & Spencer (M&S) to close its 600 stores in order to save £1 billion over 15 years. It’s an important case as other retailers have previously.
Do you want to learn how to create a fashion portfolio? If so, you can find the right clothes and accessories for your future portfolio out there. We should not be scared of learning new skills and applying them when we need them.