Are you about writing a clothing line business plan? If YES, here is a sample SWOT analysis for a clothing line company to help you form a competitive strategy.
In the United States, Canada, United Kingdom, Australia, France, and Italy and in other part of the world; people spend on clothes especially renowned clothing line brands, just to feel among and look trendy. For instance; Manhattanites spend the most cash on apparels in the U.S.; they spend an average of $362 per month whilst shoppers in Tucson, Arizona, spend the least on apparel; they spend an average of $131 per month.
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In the united kingdom, consumers have an estimated £30 billion ($46.7 billion) worth of unworn clothes lingering in their wardrobes.
The fact that there are over 7 Billion people on planet earth means that there is indeed a very large market for the clothing line industry. For example; if everybody in the world owns a pair of trouser, one shirt and one jacket it will translate to 21 billion clothes. Of course the average person own far more that a pair of trouser, a shirt and a jacket.
If proper market research and survey is done; a clothing manufacturing company will not have to struggle to breakeven. The clothing line industry now rely more on mass market sales for them to make the kind of income that will sustain the business. The mass market take care of a wide range of customers that cuts across both the rich and the poor.
In order to cut cost of production to the barest minimum, most clothing line manufacturing companies in the united states of America now manufacture their clothes in Asia; this is because it is far cheaper when compared to manufacturing in the U.S.
Most of the new clothing brands that are trying to catch – up with the market, ensure that they produce ready-to-wear clothes using trends set by leading fashion labels. What they do is that, they see the direction of the trend as established by renowned fashion brands before producing their own versions of the original look by making use of cheaper fabrics and simpler production processes which can easily be done by machines.
They can comfortably sell such product at a cheaper price to the masses who may not afford to purchase the original which is often way too expensive for the common man.
Clothing Line SWOT Analysis Sample
Classic Label™ Clothing Line™ intends to build a clothing line business that will manufacture clothes for men, women, young adult and children. We will be based in Huston, Texas, but we will not restrict the sale of our clothes to the U.S alone, we will sell our product in other parts of the world.
In other to achieve this in a highly competitive industry like the fashion industry, we must ensure that we critically look through our strength, our weaknesses, the opportunities available in the industry and the threats that we will are likely going to face.
Because of the nature of business we are involved in and the brand we want to build, we are able to hire the services of an HR and Business consultant with bias in fashion and retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for Classic Label™ Clothing Line™ Clothing Line;
Perhaps one of our strongest points of strength could be attributed to the quality of employees and the latest machines and equipment that we have in our production factory. Our chief executive officer will be bring is wealth of experience to the table and that is indeed a huge positive for Classic Label™ Clothing Line.
A major weakness that may count against us is the fact that we are a new clothing line company and we don’t have the financial capacity to compete with multi – billion dollars fashion label like Ralph Lauren, Tommy Hilfiger, Hugo Boss, Gap, Mango and Calvin Kline et al when it comes to controlling the market.
One thing is certain, whether good or bad, people will always look for clothes to wear; the opportunity for clothing line to sell their clothes is massive and we hope to leverage on these opportunities.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new clothing line who may want to adopt same business model like us.