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Fashion > Exam 4 > Flashcards

Exam 4 Flashcards

1
Q

Where goods are produced & sold to buyers - At wholesale prices during market weeks

A

Markets

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2
Q

New York - Largest - Most important
Los Angeles
Miami
Dallas

A

Major Domestic Market Centers

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3
Q
  • The original link between the New York fashion scene & the provinces
  • Evolved from lonely traveling salesmen
  • Showing only one line to groups of salesmen
  • Showing multiple, noncompeting lines
A

Sales Representatives

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4
Q
  • Ultimately, this developed into regional market centers
  • Consist of exhibition spaces that house wholesale markets
  • The Chicago Merchandise Mart - Oldest of the marts
  • There is a mart in most major cities
A

Marts

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5
Q
  • Publicity - Fashion shows, parties
  • Information Services - Buyer’s Directory - Publications
  • Educational Services - Seminars, conferences
A

Services of Market Centers & Marts

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6
Q
  • Periodic events in regional market centers

- They are smaller than market weeks

A

Trade Shows

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7
Q
  • A market week - Minus permanent facilities

- Women, children & accessories - Held in Las Vegas

A

MAGIC Trade Show - Men’s Apparel Group In California

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8
Q
  • The nation’s fashion capital
  • Offers the largest selection of manufacturers’ showrooms
  • The fashion publishing, buying & retailing center
  • The cultural center of U. S. - The best place for designers to draw inspiration from all forms of art
A

New York City - Many Advantages

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9
Q
  • Originated in 1993 in NYC

- A platform for American designers - Become leading players in the global fashion business

A

Seventh on Sixth

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10
Q
  • Seventh on Sixth
  • Los Angeles Shows
  • Miami Shows
A

IMG - Today’s Producer

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11
Q
  • Fashion Fringe (London)
  • Lakmé India Fashion Week
  • Thai Supermodel Search
  • Pakistan Fashion Week
A

IMG Fashion & 7th on Sixth
Internationally - Produces, manages & represents
International Fashion Shows

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12
Q
  • Their own unique flavor & fashion
    • The Los Angeles Market - Easy-living, casual lifestyle, colorful
      The Dallas Market
  • Southwestern looks - Handcrafted styles
    The Miami Market
  • Latino & Caribbean flavor, colorful - Best known for children’s wear
A

Regional Market Centers- Each Market Center

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13
Q

Louis XIV - During the reign - 1643-1715 - France first emerged as a fashion showcase
Lyons - Textile production
Alencon - Lace works
Established to meet needs of Versailles royalty at court

A

France

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14
Q
  • France originated haute couture

- Charles Frederick Worth - Opened the first couturier

A

1858

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15
Q
  • Established in 1868
  • Sets standards & dates for haute couture shows
  • Most valuable contribution
    • It represents its members in arbitration disputes & seeking regulation of wages & working hours
A

Chambre Syndicale de la Couture Parisienne

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16
Q
  • By itself loses money - creates profitability
    • Franchising
    • Licensing arrangements
    • Prêt-à-porter lines
A

Haute Couture

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17
Q
  • Ready-to-wear portion of the market
    Money making section of the fashion industry
    • Giving designers access to large markets
    • Standardized sizing & mass manufacturing created profitability
A

Prêt-à-Porter

Designs

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18
Q

Held in major European fashion capitals

- London - Paris - Milan

A

Semiannual “Pret” Shows

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19
Q

France’s most serious rival in the fashion industry

Italians have made massive inroads - After the 1990’s & into the 21st century
Italian designers renowned for - Superb knitwear, accessories & textiles

A

Italy

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20
Q
  • Use innovative & beautiful textiles to launch themselves in the luxury markets
  • Giorgio Armani. Valentino - Developed tremendous influence
  • Gucci, Prada
  • Greatly influences today’s luxury market
A

Designers

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21
Q

Savile Row - Best known for handcrafted suits

A

Great Britain

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22
Q

Today’s most important designers

A

Britain

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23
Q
  • John Galliano for Dior
  • Alexander McQueen for Givenchy
  • Stella McCartney set up with her own line
  • Vivienne Westwood - Setting design trends for over 20 years
  • Philip Treacy - Today’s most recognized hat designer
  • Julien Macdonald - A stellar reputation
A

LVMH Moët Hennessy

24
Q

Formerly nonexistent on the fashion tour - Hugo Boss, Mondi, Escada, Jil Sander

A

Germany

25
Q

Leather Apparel - Specifically in men’s wear
Igedo
- Düsseldorf
- Women’s ready-to-wear
- Largest European fashion fair
- Around 2,150 exhibitors from 40 countries
- Markam - Present their collection during the fair

A

Sweden

26
Q
  • Kenzo Takada
  • Kansai Yamamoto
  • Hanae Mori
  • Issey Miyake - With daring & provocative designs
A

1970’s - The First Wave of Japanese designers

27
Q
  • Rei Kawakubo
  • Matsuhiro Matsuda
  • Yohji Yamamoto - Leading the way
A

1980s - The Second Wave

28
Q
  • Hippie beads & T-shirts

- 1970’s punk

A

1990’s - Designers focused on retro pop cultural influences

29
Q
  • Shinichiro Arakawa - Create technically ingenious designs
A

2000’s - New designers

30
Q

One of the largest exporters - Both raw materials & finished products
2000 - The U.S. gave China normal trader status - Which gave China entry into the WTO

A

China

31
Q
  • Becoming one of the United States’ largest trading partners in a short period
  • Even more attractive offshore location for domestic manufacturers
A

Mexico benefited greatly from NAFTA

32
Q
  • The world is becoming one huge market

- The world’s nations are becoming economically interdependent in ways they have never been before

A

Global Sourcing

33
Q

Very much a part of the global economy

A term to describe the process of shopping & buying imported goods

A

The Fashion Industry

34
Q

Political scientists call this process

- The nations of the world become more interlinked with one another

A

Globalization

35
Q

Describes the process of shopping for & purchasing imported goods
U.S. buyers rely on the help & experience of specialists

A

Global Sourcing

36
Q

When a firm in a country buys foreign goods

A

Imports

37
Q
  • The use of foreign workers in one or more countries to complete the steps of manufacturing the goods that bear the producer’s label
A

Offshore Production

38
Q
  • Foreign fashion markets
  • Store-owned foreign buying offices
  • Commissionaires or independent agents
  • Import Fairs held in the United States
  • By imports
A

Foreign made goods can be purchased at & by the following

39
Q
  • Observe new trends first-hand
  • Buy goods suited to their customers
  • The international markets offer a variety of goods
    • But not all are suited to the American market
A

Foreign Fashion Markets

40
Q
  • Buyers support & advise store buyers
  • Surveying the market for new trends
  • Supervising purchases
  • Following up on delivery
  • An extension of the store
  • Often authorized to make purchases
A

Store-Owned Foreign Buying Offices

41
Q
  • Located in key buying cities
  • Tend to be smaller than store-owned offices
  • Represent both retailers & manufacturers
  • Provide many of the same services as store-owned foreign buying offices
A

Commissionaires or Independent Agents

42
Q
  • Held in the United States
    Regularly held in the U. S.
    2 Important Functions
  • Give foreign manufacturers & designers chance to observe American culture
  • Increase size & depth of import market
A

Import Fairs

43
Q

American buyers purchase from American-owned importing firms
Import firms shop in the international markets
- To purchase their own “lines”
- To put together & display to retailers

A

By Imports

44
Q

Growth of direct importing done by retailers

Offshore sources - Price advantage, exclusivity & workmanship

A

Importing by Manufacturers

45
Q
  • Store or retailer design the product to be manufactured
    • Provide standards & guidelines - J. C. Penney’s & The Gap

Specification Buying - Apparel for Wal-Mart being manufactured in India

A

Specification

46
Q
  • Retailers make their own assortment to set them apart from the competition
A

Private-Label Lines

47
Q
  • Manufacturer designing for the retailer

- Both domestic & off-shore production - Used to complete private label goods

A

Private-Label Buying

48
Q
  • The difference between the value of exports & the value of imports
A

Balance of Trade

49
Q
  • When the value of goods and the value of imports exceed the value of its exports
A

Trade Deficit

50
Q
  • When a country’s exports exceed its imports
A

Trade Surplus

51
Q
  • Name given to an economic & political doctrine that seeks to exclude or limit foreign goods
A

Protectionism

52
Q
  • Opposite doctrine
  • Supports the free exchange of goods among nations
  • Believe restrictions on trade will threaten nation’s ability to grow & compete in global arena
  • Supporters – retailers and most consumers
A

Free Trade

53
Q
  • 1st import restrictions on goods brought to U.S.

- Feared it would not be able to compete with world’s industrial powers - 50 % tariff

A

1789 - U.S

54
Q
  • 2 countries reach a separate agreement

- These laws have developed out of need

A

Bilateral Agreement

55
Q
  • General Agreement on Tariffs & Trade
  • 1947 – U.S. & 23 other nations
  • Role in reducing trade barriers & unifying trading practices
A

GATT

56
Q
  • 1995 – Continues to adjust member agreements

- Some specific to textiles & apparel industries

A

WTO - World Trade Organization

57
Q
  • 1973 – U.S. & 53 other nations
  • 1st multinational agreement specifically regulating the flow of textile products
  • Established ground rules for bilateral agreements & unilateral actions designed to restrict the free flow of textile products
A

MFA - Multi-Fiber Arrangement

Fashion (3 decks)

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