INTERNATIONAL BUSINESS

ASSESSMENT- 1

SUBMISSION TO: SUBMITTED BY:

PROF SUDIPTO BHATTACHARYA DARSHAN KUMAR

PROFESSOR GRADE 1 19 BBA0023

VIT BUSINESS SCHOOL D2 + TD2
VELLORE INSTITUTE OF TECHNOLOGY
POLITICAL AND ECONOMICAL ENVIRONMENT

The economy of North America includes in excess of 579 million individuals (8% of
the total populace) in its 23 sovereign states and 15 ward domains. It is set apart by a
sharp division between the prevalently English talking nations of Canada and the
United States, which are among the wealthiest and most created countries on the
planet.
The US, Canada and Mexico have huge and multifaceted financial systems. In 2011,
the US has an expected per capita total national output (PPP) of $47,200, and is the
most innovatively evolved economy in North America.
Canada's monetary patterns are like that of the United States, with noteworthy
development in the divisions of administrations, mining and manufacturing.
Canada's GDP (PPP) was assessed at $39,400 in 2010.
Mexico has a GDP (PPP) of $15,312, and per capital salary is assessed at around 33%
of the United States'. The nation has both present day and obsolete modern and
agrarian offices and activities
The North American Free Trade Agreement (NAFTA) is a trade agreement between
Mexico, the United States, and Canada. ... It removed taxes on products traded
between the United States, Canada, and Mexico. It also protects copyrights, patents,
and trademarks between those three countries.
NAFTA Is Now the USMCA

On November 30, 2018, the United States, Mexico and Canada States-Mexico-Canada
Agreement.
MARKET OF FASHION AND ACCESSORIES

❖ USA
➢ In the U.S., this fragment creates an income of US$103 billion out of 2019,
which adds up to a 28% portion of the whole U.S. Online business showcase.
➢ Design is the biggest fragment in the U.S. It represents 28% of the online deals
in the United States, as demonstrated by the Statista Digital Market Outlook. In
the course of the most recent year, the income of this market has developed by
22%. The anticipated compound yearly development rate (CAGR 19-23) for the
following four years is 12%. The declining development rate proposes a
reasonably overflowed advertise.
➢ Looking at the fashion ,Apparel is the largest it accounts for 66% in the market.
Bags and accessories have 20% share of whole segment and footwear cover 14
% of the sales.

❖ CANADA
➢ The value of fashion market industry is 43.6 billion Canadian dollars. It is the
whole value of clothing and footwear industry.
➢ Apparel and fashion industry value 28 billion Canadian dollars. Turnover retail
of clothing is 22 billion Canadian dollars. Retail of footwear is 3 billion
Canadian dollars. Jewellery, luggage and leather goods are also 3 billion
Canadian dollars. There are 2400 retail companies of fashion and accessories
in canada.

❖ MEXICO
➢ Textiles and apparel industry contribute 4.7% to Mexican GDP in terms of
manufacturing. Textiles has 1.3% whereas apparel has 2.5 % overall.
➢ Total revenue of fashion in Mexico is US $3792million. Revenue is expected to
show an annual growth rate 8.6%. The market’s largest segment is apparel with
a market volume of US $2088 million.
FASHION TRENDS THAT ARE RULING NORTH
AMERICA

▪ CROP TOP SLIT WITH SLIT SKIRT

• Two-piece styled dresses are stylish. All you need is either a yield top or a
profound neck area top that will go best with a cut skirt. Most definitely, you
can choose a solitary cut or cuts on the two sides or unevenly structured.
However you decide to wear a skirt, it will look savvy on the wearer. Also, with
regards to frill, pair it up with wedge heels or ribbon tied pads.

▪ BEIGE COLOUR IS IN FASHION

• Go for beige dress, skirt, pants, jumpsuits, lopsided skirts, or simply free
pants. Strikingly, this is the shading that rules throughout the mid year,
however fashionistas are not delaying to wear the shade during the colder
months as well. Pair it up with boots or high lower leg shoes and same
shading purse.

▪ SEQUIN ACCESSORIES
• Expect to see sequin purses all around or any place you every now and again
go. This pattern is in and is setting down deep roots. Supplement your
clothing with sequin grasps or packs that upgrade your look and character. Be
that as it may, sequins are suitable for easy going events and best to keep them
under control with regards to formal events

▪ BUCKETS HATS
• Regardless of your gender and what you are wearing .the unisex bucket has
been favourite to everyone on any style. The trend is set to rule the rest of the
year . you can choose the colour depending on what u r wearing and the colour
of attire it undoubtedly offer a privileged look.
TECHNOLOGIES RESHAPING THE FASHION
INDUSTRY

✓ ARTIFICIAL INTELLIGENCE

As of late, brands have been utilizing AI to improve clients' shopping

experience, break down information, help deals, gauge patterns and offer stock
related direction, among numerous different things.

✓ 3D PRINTING

Since the coming of 3D printers, numerous brands, both of all shapes and
sizes, have been investigating its opportunities for on-request creation, to
make new roads for customization, manageability and inventiveness.

✓ INTERNET OF THINGS(IOT)

late headways in attire innovation and wearable contraptions have gone the
extent that influencing how we experience our environmental factors,
cooperate with others

✓ VIRTUAL AND AUGMENTED REALITY

Combining the physical and online world of the retail has been its aim. It
enables customers to virtually try on outfits.

✓ BLOCK CHAIN

Block chain is a great tool for transparency , traceability and efficiency in

supply chain.

✓ MOBILE COMMERCE

✓ RAPID DATA ANALYSIS FOR QUICK ADAPTATION

 SCOPE OF EXPORT AND IMPORT

Export is sending goods from one country to another. Import means

receiving goods from other country. It is good for the country if export is
more than import. USA , CANADA and MEXICO are having more imports
rather than export. The export value of these countries together is $ 2. 492
trillion . The import value of these countries is $3.072 trillion. North America
export and import percentage towards their GDP is 14.03% and 17.03%
respectively. So scope of import is more than the export.

RETAINING TALENTS FOR MANUFACTURING

AND FASHION DESIGNING

➢ KNOW YOUR COMPANY'S MISSION AND VALUE

➢ BUILD AN EMPLOYEE FOCUSED CULTURE

➢ INVOLVE EMPLOYEES IN RECRUITING

➢ GET OUT AND MEET PEOPLE

➢ CONNECT ONLINE
 RISK OF DOING INTERNATIONAL
BUSINESS

o CREDIT RISK
o INTELLECTUAL PROPERTY RISK
o FOREIGN EXCHANGE RISK
o ETHICS RISK
o COUNTRY AND POLITICAL RISK

WAYS TO DEAL THEM:

o LETTER OF CREDIT
o TAKE PAYMENT IN FULL
o REGISTER CORPORATE NAME
o STABILIZING PROFIT OVER SALES
o EXCHANGE CONTROL SIMPLIFIED
o ADHERES TO VALUES AND RULES
 SOURCES :

➢ https://en.wikipedia.org/wiki/Economy_of_North_A
merica
➢ https://kids.kiddle.co/North_American_Free_Trade_
Agreement
➢ https://simple.wikipedia.org/wiki/North_American_F
ree_Trade_Agreement

(THIS REPORT INCLUDE 1094 WORDS )