Currently the fashion industry relies more on mass market sales. The mass market caters for a wide range of customers, producing ready set by the famous names in fashion. They often wait around a season to make sure a style is going to catch on before producing their own versions of the original look.
West’s fashion industry
Cambodia’s garment industry, dominated by foreign investments from Hong Kong, China, Singapore, Malaysia and South Korea, insists that attendance bonuses and housing and transport allowances make Cambodia’s garment workers some of the best paid in the region.
The fashion industry relies on an abundant amount of land to graze animals, water to grow cotton, and natural resources to transport the latest clothes, shoes and accessories around the world each season
The fashion industry generates up to $2.5 trillion in revenue a year
The fashion industry is huge and continues to grow rapidly – according to current growth projections, it will double in the next 10 years, generating up to $5 trillion annually. How many other industries can look forward to such levels of growth?
It’s not just big in terms of revenue – it also employs 60 million people around the world. In the US, 4 million people work in the fashion industry. That’s more than other major sectors, including the auto, fast-food and video-game industries.
In order to save money and time, they use cheaper fabrics and simpler production techniques which can easily be done by machine. The end product can therefore be sold much more cheaply.