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Strategic Fashion Management
Ranjit Thind has nearly 20 years’ global experience in the fashion industry
and has worked for a variety of iconic brands, such as Nike, Asprey and
Ralph Lauren. He is an alumnus of the London College of Fashion, United
Kingdom and Harvard Business School, United States.
Strategic Fashion Management
Concepts, Models and Strategies for
Competitive Advantage
Ranjit Thind
First published 2018
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
711 Third Avenue, New York, NY 10017
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2018 Ranjit Thind
The right of Ranjit Thind to be identified as author of this work has been asserted by him in
accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced or utilised
in any form or by any electronic, mechanical, or other means, now known or
hereafter invented, including photocopying and recording, or in any information
storage or retrieval system, without permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or registered trademarks,
and are used only for identification and explanation without intent to infringe.
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Thind, Ranjit, 1977– author.
Title: Strategic fashion management : concepts, models and strategies for
competitive advantage / Ranjit Thind.
Description: Abingdon, Oxon ; New York, NY : Routledge, 2018. |
Includes bibliographical references and index.
Identifiers: LCCN 2017014241 (print) | LCCN 2017030942 (ebook) |
ISBN 9781315160344 (eBook) | ISBN 9781138064546 (hardback : alk. paper) |
ISBN 9781138064553 (pbk. : alk. paper)
Subjects: LCSH: Fashion merchandising–Management. |
Clothing trade–Management. | Strategic planning.
Classification: LCC HD9940.A2 (ebook) | LCC HD9940.A2 T45 2018 (print) |
DDC 746.9/20684–dc23
LC record available at https://lccn.loc.gov/2017014241
ISBN: 978-1-138-06454-6 (hbk)
ISBN: 978-1-138-06455-3 (pbk)
ISBN: 978-1-315-16034-4 (ebk)
Typeset in Times New Roman
by Out of House Publishing
This book is dedicated to all those who have unconditionally
shared their knowledge and experience with me
I am forever grateful
Contents
List of figures ix
List of tables x
List of case studies xi
Foreword xii
Acknowledgements xiii
Index 164
Figures
Acknowledgements
Amy Laurens
Editor, Routledge UK
Laura Hussey
Editorial Assistant, Routledge UK
Sanaul Mallick
Education Consultant
Tim Jackson
Course Director, MBA Luxury Management & MSc Luxury Marketing
Glasgow Caledonian University
Many young people graduate from university with the aim of being in a
management position or having some management dimension to their
work. Strategic Fashion Management: Concepts, Models and Strategies for
Competitive Advantage aims to accelerate the journey by covering 11 key per-
spectives that have never been captured before in a single text. Being active in
the industry, the author focuses on key contemporary themes and thinking
that is central to today’s management agenda and that is often taught in a
fragmented nature or not fully developed into teaching material. This book
blends theoretical models and strategic frameworks with industry-specific
examples and seeks to fill the void in the availability of quality strategic fash-
ion management literature.
The content is highly global in nature and particularly suitable for final-
year undergraduate and postgraduate students studying fashion market-
ing and management or those on MBA and international business courses
who wish to understand more about the fashion ecosystem. It is also
designed to serve as an important reference for executives and researchers
who are interested in conceptualising strategic issues that are pertinent to
the industry.
Chapter overview
Depending on your level of knowledge, each chapter can be read as a
standalone body of work. However, because of the strategic nature of the
subjects and their inter-relatedness, it is best each chapter is read sequen-
tially. To help maximise the content of this book, each chapter contains the
following:
Chapter goals
Each chapter begins with a set of goals. The aim is to help you understand
what the section will cover and by the end of it, you should have a good grasp
of the key points of discourse.
2 Introduction
Key terms
Key terms have been highlighted in bold and will help you identify some of
the terminologies commonly used in academia and in the workplace.
Review questions
At the end of each chapter are thought-provoking review questions which aim
to build on the topic and stimulate a lively conversation for debate.
Further reading
A list of referenced work acts as a platform for further recommended read-
ing should you wish to conduct your own research and delve deeper into the
selected topics.
Case studies
Throughout the book, multiple case studies are embedded to support and
amplify the various perspectives. These cases are a great way to understand
how the various strategies, theories and frameworks are being deployed in the
industry.
Chapter outlines
Chapter 1, ‘The business environment: industry dynamics and value driv-
ers’, explains how the firm can utilise the ELIPSE framework to navigate
the macro business environment and the forces that shape it. This chapter
also covers some of the key drivers that form the engine of growth in the
industry.
Chapter 11, ‘The future of fashion: a new reality’, presents a selection of key
trends that are affecting the industry and have the potential to significantly
change the way we work, live and interact. It also identifies four key skills that
employees will need to be successful in tomorrow’s workplace.
Case studies: Sewbo, Hearst Magazines and Blippar
1 The business environment
Industry dynamics and value drivers
Chapter goals
This chapter explains how the firm can utilise the ELIPSE framework to
navigate the macro business environment and the forces that shape it. This
chapter also covers some of the key drivers that form the engine of growth
in the industry. The key areas covered are:
Fashion must be amusing, modern and fun. (Yves Saint Laurent, fashion
designer).1
Clothing is one of humanity’s basic needs and its primary function has been
to protect the body from the elements. As the centuries progressed, this rap-
idly evolved into material artefacts used to present human beings as clothed,
adorned and gendered individuals. Accordingly, in the nineteenth century
clothing took on a new meaning and through gender, appearance and the
circumstances of different lifestyles and cultural influences, it symbolised
membership to a certain stratum of society.2 As this movement became ever
more popular, the term fashion was embodied as a means of self-expres-
sion, emotion, identity and ethnicity. Deriving its origins from the Latin
word ‘fasoun’, which translates as the ‘physical make-up’ of artefacts, and
in French ‘façon’, which means ‘appearance’ and ‘construction’, fashion can
be defined as a phenomenon that is identifiable by the wearer or viewer when
being consumed. Consequently, fashion has become incredibly diverse and
The business environment 5
is a global industry which is influenced by the world around us. Trends often
generated by celebrities, media, art, religion, culture and science have become
the industry’s currency and continue to nourish each other. The custom-
ary Spring-Summer (S/S) and Autumn-Winter (A/W) collections have been
rethought to incorporate constant deliveries of ‘seasonless’ merchandise on a
weekly and monthly basis. Coupled with the rise of fashion immediacy and
the merging of men’s and women’s catwalk shows, a newly emerging fash-
ion system continues to counterweight the traditional S/S and A/W platform
and calendar. Subsequently, fashion requires constant reinvention through
a restless rotation of patterns, colours, logos, fabrics, textures and shapes.
This has led consumers to seek products, sometimes regardless of quality
and price, that are cool, fresh and relevant, and those that match their own
unique tastes and lifestyles. Because of this, firms endeavour to create trends
that seize the moment, whether they are conspicuous in nature or obscure in
sensibility. Therefore, to capture maximum value, the link with consumption
has become strategic. The effects of these trends are further exacerbated as
fashion never tires of being observed, scrutinised, exaggerated, applauded or
abused. Attraction and repulsion. Passion and indifference. Sensual and abra-
sive. Expensive and cheap. Visible and discerning. Traditional and modern.
These are just a few of the dichotomies that the world of fashion infuses into
the everyday lives of consumers as the battle for the hearts, minds and wallets
of shoppers intensifies.
According to the management consultancy McKinsey & Company, in 2014
100 billion items of clothing were manufactured for the first time, more than
double what was produced in the year 2000. This equates to nearly 14 items for
every person on earth, of which 60 per cent ended up in a landfill site within
the same 12 months.3 As a result, the fashion industry can be classified as a
creative and high velocity environment where fashion is rapidly adopted, dif-
fused and discarded. This causes ramifications in terms of supply and demand,
and equates to the industry being characterised as highly resource-intensive,
having short life cycles, high volatility and low predictability. The industry con-
tinues to be under pressure as increasing consumer choice diverts expenditure
away from traditional fashion (clothing, footwear and accessories) to other
consumer durables. Smartphones and leisure activities such as fine dining,
adventure holidays and well-being, which fall under the rubric of ‘experience’,
‘entertainment’, ‘indulgences’ and ‘self- discovery’, are increasingly major
threats to the industry. That said, in today’s context fashion encompasses a
wider sociological and cultural significance beyond the economic and technical
relationship between producer and consumer. From trendy clothes, fast cars
and chic hotels to luxurious travel, hip food and stylish technology, the term
‘fashion’ in its broadest sense touches everyone’s life in some form or another.
Subsequently, fashion has become a form of cultural entertainment, spectacle
and even hysteria. Astute firms maintain the consumer’s desire for more diverse
experiences and immersive-based pursuits. Consequently, never before have we
had more people interested in fashion and style than we do today.
6 The business environment
Introduction to the macro business environment
Though history can be a prologue to the future, its usefulness is becoming
progressively limited as today’s world is increasingly unpredictable and advan-
cing at a faster rate than most firms can adapt. The oscillation of the macro
business environment has increased in turbulence since the beginning of the
Industrial Revolution and continues to disrupt markets. According to the
2017 Global Risks Report by the World Economic Forum (WEF), factors
including governance failure, rising urbanisation and geographical mobility, a
degrading environment, shifting consumer attitudes, and advances in science
and technology are just some of the pressing forces that all firms must rap-
idly navigate to remain relevant, regardless of their size or stage of growth.4
Keeping pace with these drivers ensures that the firm operates in a tumultuous
and complex environment. This has led to increasing market rivalry as tec-
tonic changes in products, processes and business technologies have an impact
on the firm’s costs, prices and profits. The general trend is towards dynamic,
diverse, complex and hyper inter-connected environments. This is leading to
virtually every firm having to come to terms with sharply changing market
conditions, as their scope, structure and relationships are radically redefined.5
In a similar manner to checking a radar screen, firms that scan the busi-
ness environment to detect patterns of change and form trend lines are better
equipped to take action against the competition. Importantly, this aids execu-
tives in developing a capacity for systemic thinking so that they ‘connect the
dots’ by separating the noise and everyday activities from the fundamental
shifts that are taking place in the industry. Figure 1.1 depicts the ELIPSE
LEGAL
ECONOMIC
Human Rights
Labour Market
Imbalances Regulation
INNOVATION
ETHICAL
Religious Shifts Cyber Security
Biodiversity Artificial
Loss MARKET RIVALRY Intelligence
AFFECTING THE
Clean Energy FIRM'S COSTS, Digital
PRICES & PROFITS
SOCIAL POLITICAL
Demographics Government
Ideology
Ecology
Policy Creation
Globalisation
Welfare