Who Made Our Clothes Under Which Conditions? A Call for Ethical Standards in the Fashion Supply Chain by Anna Kathrin Sebald* in Trends in Textile Engineering & Fashion Technology
This document discusses tools and techniques for analyzing global supply chains, including benchmarking. Benchmarking involves measuring performance against other organizations to identify best practices and opportunities for improvement. It describes the main types of benchmarking and the benchmarking process. The document also discusses determining metrics to measure supply chain performance and categories of measurement, such as quantity, quality, cost, and time. Finally, it covers regulatory influences on global supply chains like taxation and efforts to prevent modern slavery.
The global apparel industry is buyer-driven, with fragmented upstream production and concentrated downstream retailers and brands. Production is located primarily in developing countries for lower costs. Retailing is increasingly concentrated to improve speed and flexibility. Customer spending on apparel decreases as income increases.
Zara uses a business model of quick response and frequent deliveries of on-trend fashion. It targets middle-income, fashion-conscious customers with affordable prices. Key competitive advantages include a strong real estate network, internal manufacturing allowing quick response, engaged human resources, and integrated IT infrastructure.
The recommendations are to aggressively expand Zara in Europe and the Middle East in the short-term. Expansion in North America is not recommended currently due to
TAL Apparel Limited is a large garment manufacturer headquartered in Hong Kong. The document discusses TAL's history and strategies for adapting to changes in the global apparel industry. As competition from low-cost countries increased, TAL invested heavily in IT systems like EDI, ERP, VMI, and MTM to improve supply chain management and move into higher value activities. This allowed TAL to transition from an OEM to an OBM and strengthen relationships with major retailers.
This document discusses Michael Porter's theories on competitive forces and competitive advantage. It covers Porter's five forces model, which examines rivalry, threat of substitutes, buyer power, supplier power, and threat of new entrants. It also discusses how firms can achieve competitive advantage through developing resources to achieve either a cost advantage or differentiation advantage. The document provides examples and diagrams to illustrate these concepts from Porter's work.
Burberry is a luxury British fashion brand seeking to improve its digital marketing. A situational analysis identified strengths in supply chain management and reputation for British design, but weaknesses in price affordability and limited products. Opportunities exist in technology advances and online markets, but threats include economic challenges lowering consumer purchasing power and strong competition from other luxury brands. The report recommends objectives of improving online sales, followers, and reducing traditional marketing costs through actions like website and social media improvements.
The document discusses operations management in the retail sector, specifically the fashion industry. It notes that the supply chain is complex with many parties involved, requiring careful management. Fast fashion has become important for getting clothing to stores quickly within small lead times. The future challenge for retailers is to optimize costs and build trust in the supply chain through improved communication.
This document discusses market structure, conduct, and performance. It defines market structure as the organizational characteristics of a market, focusing on factors that affect competition between firms like the number of buyers and sellers and barriers to entry. Market conduct refers to how firms behave in a market in terms of pricing, output, and other decisions. Market performance evaluates efficiency and other outcomes. The relationship between these three factors is complex as each can influence the others over time.
This document discusses global value chains in the textile and apparel industry. It explains that international production and trade are increasingly organized through global value chains, where different stages of production occur across countries. There are two main types of value chains - producer value chains, where manufacturers coordinate decentralized production networks, and buyer value chains, where large retailers and brands set up production networks in developing countries. Upgrading in global value chains can involve increasing production efficiency through process upgrading or shifting to higher value product lines through product upgrading. Control of key functions like branding, design, and production capabilities is important in apparel value chains.
This document discusses tools and techniques for analyzing global supply chains, including benchmarking. Benchmarking involves measuring performance against other organizations to identify best practices and opportunities for improvement. It describes the main types of benchmarking and the benchmarking process. The document also discusses determining metrics to measure supply chain performance and categories of measurement, such as quantity, quality, cost, and time. Finally, it covers regulatory influences on global supply chains like taxation and efforts to prevent modern slavery.
The global apparel industry is buyer-driven, with fragmented upstream production and concentrated downstream retailers and brands. Production is located primarily in developing countries for lower costs. Retailing is increasingly concentrated to improve speed and flexibility. Customer spending on apparel decreases as income increases.
Zara uses a business model of quick response and frequent deliveries of on-trend fashion. It targets middle-income, fashion-conscious customers with affordable prices. Key competitive advantages include a strong real estate network, internal manufacturing allowing quick response, engaged human resources, and integrated IT infrastructure.
The recommendations are to aggressively expand Zara in Europe and the Middle East in the short-term. Expansion in North America is not recommended currently due to
TAL Apparel Limited is a large garment manufacturer headquartered in Hong Kong. The document discusses TAL's history and strategies for adapting to changes in the global apparel industry. As competition from low-cost countries increased, TAL invested heavily in IT systems like EDI, ERP, VMI, and MTM to improve supply chain management and move into higher value activities. This allowed TAL to transition from an OEM to an OBM and strengthen relationships with major retailers.
This document discusses Michael Porter's theories on competitive forces and competitive advantage. It covers Porter's five forces model, which examines rivalry, threat of substitutes, buyer power, supplier power, and threat of new entrants. It also discusses how firms can achieve competitive advantage through developing resources to achieve either a cost advantage or differentiation advantage. The document provides examples and diagrams to illustrate these concepts from Porter's work.
Burberry is a luxury British fashion brand seeking to improve its digital marketing. A situational analysis identified strengths in supply chain management and reputation for British design, but weaknesses in price affordability and limited products. Opportunities exist in technology advances and online markets, but threats include economic challenges lowering consumer purchasing power and strong competition from other luxury brands. The report recommends objectives of improving online sales, followers, and reducing traditional marketing costs through actions like website and social media improvements.
The document discusses operations management in the retail sector, specifically the fashion industry. It notes that the supply chain is complex with many parties involved, requiring careful management. Fast fashion has become important for getting clothing to stores quickly within small lead times. The future challenge for retailers is to optimize costs and build trust in the supply chain through improved communication.
This document discusses market structure, conduct, and performance. It defines market structure as the organizational characteristics of a market, focusing on factors that affect competition between firms like the number of buyers and sellers and barriers to entry. Market conduct refers to how firms behave in a market in terms of pricing, output, and other decisions. Market performance evaluates efficiency and other outcomes. The relationship between these three factors is complex as each can influence the others over time.
This document discusses global value chains in the textile and apparel industry. It explains that international production and trade are increasingly organized through global value chains, where different stages of production occur across countries. There are two main types of value chains - producer value chains, where manufacturers coordinate decentralized production networks, and buyer value chains, where large retailers and brands set up production networks in developing countries. Upgrading in global value chains can involve increasing production efficiency through process upgrading or shifting to higher value product lines through product upgrading. Control of key functions like branding, design, and production capabilities is important in apparel value chains.
This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It provides details on the key characteristics of each market structure type and gives examples. Perfect competition has many buyers and sellers, homogeneous goods, free entry and exit, and perfect information. A monopoly has a single seller, no close substitutes for its product, and barriers to entry. Monopolistic competition features differentiated products, many firms, and independent pricing decisions. Oligopoly is characterized by a few dominant sellers, each with a significant market share.
Of our days, with the opening of borders, the companies compete very aggressive for the flow of their products in a market, where only the companies well organized can afford a good share of the market. The survival of such and such company necessarily passes through the improvement of performance and competitiveness of organizations in general, and small and medium-sized enterprises (SMES) in particular. It is in this perspective that the establishment of the platform of the supply chain management can provide considerable benefits to SMES on their competitors
Texcraft is a UK-based textiles company considering expanding into the French market. They conducted an analysis of France which showed a large and growing textiles market with high suitability. They developed a multidivisional international strategy to export high quality fabrics from their China factory to a French retailer partner. Their short and medium term plans include promotional activities, test markets, and expanding production facilities to grow sales and market share in France over time.
Value Chain Analysis for Sustainable Rural Development
by: Ivan Idrovo and Marian Boquiren.
Contracted by: GIZ-Department of Agriculture-NCI-Philippines
This document discusses analyzing a company's external environment including the general environment, industry environment, and competitor environment. It defines opportunities and threats as conditions in the general environment that could help or hinder strategic competitiveness. It also describes Porter's five forces model for industry environment analysis and discusses analyzing competitors, strategic groups, and key success factors.
The document analyzes Porter's five forces model as applied to the chocolate and cocoa industry. It finds:
1) There is a low threat of new entrants due to barriers like economies of scale, product differentiation, large capital requirements, switching costs, and regulations.
2) The bargaining power of buyers is moderate due to some large buyers but product differentiation, switching costs, and reliance on suppliers.
3) The bargaining power of suppliers is moderate to high because suppliers are concentrated and critical to the industry's product, though suppliers are also dependent on the industry.
4) The threat of substitutes is high due to many alternative flavors, snacks, and gift options.
5) Rival
The document discusses competitive analysis and strategies. It provides examples of how Kenya flowers and Israel citrus industries faced increasing competition but responded through niche and technology strategies. Porter's framework of industry analysis and competitive forces is explained. Competitive advantages can come from low cost production, product differentiation, or complementary supply. Successful strategies analyze competitors and pursue overall cost leadership, differentiation, or focus to outperform others in the industry.
An oligopoly is a market structure with few dominant firms. Firms in an oligopoly are interdependent and must consider competitors' reactions when setting prices or strategies. While competition can occur, oligopolies sometimes engage in collusive behavior such as tacitly setting prices to maximize profits, restricting output. Examples include industries like airlines, banking, and brewing.
This document discusses Porter's five forces model of competition and various concepts related to analyzing industry structure and formulating competitive strategy. It covers the five competitive forces that shape industry competition - threat of new entrants, power of suppliers, power of buyers, threat of substitutes, and rivalry among existing competitors. It also discusses barriers to entry, factors influencing rivalry, and the bargaining power of suppliers and buyers. Finally, it touches on relating a company's strategy to its external environment and positioning the firm to effectively compete within its industry.
This document provides an analysis of Oxford Industries (OXM) and the apparel industry. It discusses key drivers for the apparel industry like GDP, consumer credit, and disposable income. The document analyzes OXM's competitors, market share, growth rates, and financials. It then values OXM stock using the dividend discount and free cash flow to equity models, recommending a sell.
After a decade of offshoring to China due to low costs, companies are now seeking new locations as costs in China rise. While China will still be attractive for some industries, alternatives include Vietnam with lower wages but less developed infrastructure, Mexico with proximity to US markets and skilled labor but security issues, and even reshoring to the US which could become cost competitive. The best option depends on total costs including transportation and proximity to customers, so companies should analyze multiple factors instead of focusing only on low wages.
Strategic Management Theory An Integrated Approach 9th Edition Hill Test BankRamseyRamseys
Full download : http://alibabadownload.com/product/strategic-management-theory-an-integrated-approach-9th-edition-hill-test-bank/ Strategic Management Theory An Integrated Approach 9th Edition Hill Test Bank
International Journal of Sciences: Basic and Applied Research (IJSBAR)Mohammad Nassar
This document summarizes a study on price competition among retailers of Coca-Cola products in Ibadan, Nigeria. The study examined 110 retailers randomly sampled from three local government areas. Ordinary least squares regression was used to analyze the influence of various factors on price variations. The findings were that the Coca-Cola retail market exhibited monopolistic competition with price variations influenced by municipality characteristics, market conditions, and store characteristics. It was recommended that encouraging more retailer entries could help reduce monopolistic powers and price variations.
This document provides a literature review on niche marketing. It defines niche marketing as targeting small, specific market segments to achieve dominance. The review explores reasons for niche marketing strategies, including focusing on suitable markets and increasing returns. It also examines characteristics of niche markets, such as higher costs and prices to compensate for lower volumes. Both advantages, like opportunities for growth, and disadvantages, like vulnerability to changes, of niche marketing are discussed. The review aims to understand niche roles and characteristics to help companies determine if niche marketing is an appropriate strategy.
Heineken has strategically expanded into global markets since the late 19th century. After establishing early exports to Europe and North America, Heineken's post-WWII leadership studied U.S. marketing and used this knowledge to launch the brand worldwide. Heineken refuses to brew beer in the U.S. to maintain its image as an import with cachet. The company recently acquired its longtime U.S. distributor to gain full control over domestic distribution. Firms evaluate costs, benefits, and risks when selecting foreign markets by screening for basic needs, trade potential, economic forces, political/legal landscape, sociocultural factors, and competitive environment.
This document provides an overview of the key market information, production, contracts, and finance considerations for companies participating in the GAÏA simulation. It describes the overall context of small and medium companies from the US, China, and Europe manufacturing and selling headphones. It outlines the competitive landscape between companies from the same and different countries. It also discusses opportunities for cooperation between companies. Several sections cover important business functions like the administrative department, sales force, advertising, pricing, quality certification, production technologies and processes, raw material sourcing, contracts, transaction costs, loans, and the overall economic context.
Wal-Mart was founded by Sam Walton in 1962 and has grown to be the largest retailer in the world. It employs over 1.6 million associates across over 3,700 stores in the US and 1,500 stores internationally. Wal-Mart's strategy has been to offer low prices every day. Its vision is to provide good quality and services to customers while remaining the market leader. Wal-Mart has a significant presence in the retail market in India as well through joint ventures. There is significant growth potential for retailers in India as modern retail makes up only 8% of the total $200 billion retail market.
This document provides an overview of strategies for market entry into emerging markets, specifically for fast moving consumer goods (FMCG) companies. It examines theories of market entry and internalization, as well as characteristics of the FMCG industry and emerging markets. The document then analyzes Carlsberg's entry strategies in India, China, and Russia - evaluating their approaches using the OLI framework and discussing reasons for success or failure in each market.
BRAND ORIENTATION OF SMALL ENTERPRISES: A STUDY BASED ON APPARELS INDUSTRY IN...ijmvsc
This document summarizes a research paper on brand orientation of small apparel enterprises in Khulna City, Bangladesh. The paper studies how brand orientation relates to business performance for small businesses operating in different contexts. Through a qualitative research approach, the paper aims to contribute empirical evidence that branding is important for small businesses as well as large firms. It also provides practical guidance for small business owners on whether and when brand orientation can improve business performance.
COURSE TEXT Chapter 12 Cited Keegan, W. J., & Green, M. C. (2020CruzIbarra161
COURSE TEXT: Chapter 12 Cited: Keegan, W. J., & Green, M. C. (2020). Global marketing (10th ed.). Retrieved from https://www.vitalsource.com
2 Global Marketing Channels and Physical Distribution
Learning Objectives
12-1 Identify and compare the basic structure options for consumer channels and industrial channels.
12-2 List the guidelines companies should follow when establishing channels and working with intermediaries in global markets.
12-3 Describe the different categories of retail operations that are found in various parts of the world.
12-4 Compare and contrast the six major international transportation modes and explain how they vary in terms of reliability, accessibility, and other performance metrics.
Case 12-1 Welcome to the World of Fast Fashion
The world of global fast-fashion is like a three-way horse race. Spain’s Inditex SA is the parent company of specialty retailer Zara; Sweden is home to Hennes & Mauritz AB, better known to shoppers as H&M; and Uniqlo is the flagship brand of Japan’s Fast Retailing.
Part of the appeal of fast fashion is the low prices. Also attractive is the speed at which inventories are replenished and updated with affordable versions of the latest runway trends from the world’s fashion capitals. The need for speed is fueled in part by social media. A key element for some fast-fashion brands is sourcing clothing from countries with low-cost labor in Asia and elsewhere. In Cambodia, for example, more than 400 garment factories are registered exporters.
However, some industry observers note that low prices actually carry high social and environmental costs. Chasing the latest trends means that shoppers often discard inexpensive garments after wearing them just a few times. This leads to a consumer mindset that clothing purchases are disposable, rather than long-term investments. Critics assert that unwanted clothing often ends up in landfills, and that the fast-fashion trend is not sustainable (see Exhibit 12-1).
Exhibit 12-1
Some critics assert that the fast fashion trend contributes to overproduction and a “throw-away” mentality. The result is vast quantities of discarded clothing as well as "deadstock" (out-of-season garments and unused textiles). This Saks Fifth Avenue window display by Vetements was designed to call attention to the problem.
For years, Tadashi Yanai, the founder of the Uniqlo (“Unique Clothing”) chain, pursued a business model that differentiated his company from its European rivals. Uniqlo’s focus was on everyday basics and a new-product development process that relied heavily on innovative materials.
Inditex is the world’s largest fashion retailer, with more than 7,000 stores in 92 countries. In addition to Zara, its brands include Bershka, Pull & Bear, and Massimo Dutti. The company does not advertise, and its motto is “The company doesn’t speak; the customer speaks for the company.” Unlike some of its competitors, Inditex keeps nearly two-thirds of ...
This dissertation examines the environmental and social sustainability of Arcadia Group's "Fashion Footprint" program. The 10,105 word document includes an introduction, literature review on corporate social responsibility and sustainable development, methodology, case studies of the Sustainable Clothing Action Plan and Arcadia Group's program, and conclusion. It analyzes these initiatives and efforts within the fashion industry in the context of achieving meaningful environmental and social sustainability.
This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It provides details on the key characteristics of each market structure type and gives examples. Perfect competition has many buyers and sellers, homogeneous goods, free entry and exit, and perfect information. A monopoly has a single seller, no close substitutes for its product, and barriers to entry. Monopolistic competition features differentiated products, many firms, and independent pricing decisions. Oligopoly is characterized by a few dominant sellers, each with a significant market share.
Of our days, with the opening of borders, the companies compete very aggressive for the flow of their products in a market, where only the companies well organized can afford a good share of the market. The survival of such and such company necessarily passes through the improvement of performance and competitiveness of organizations in general, and small and medium-sized enterprises (SMES) in particular. It is in this perspective that the establishment of the platform of the supply chain management can provide considerable benefits to SMES on their competitors
Texcraft is a UK-based textiles company considering expanding into the French market. They conducted an analysis of France which showed a large and growing textiles market with high suitability. They developed a multidivisional international strategy to export high quality fabrics from their China factory to a French retailer partner. Their short and medium term plans include promotional activities, test markets, and expanding production facilities to grow sales and market share in France over time.
Value Chain Analysis for Sustainable Rural Development
by: Ivan Idrovo and Marian Boquiren.
Contracted by: GIZ-Department of Agriculture-NCI-Philippines
This document discusses analyzing a company's external environment including the general environment, industry environment, and competitor environment. It defines opportunities and threats as conditions in the general environment that could help or hinder strategic competitiveness. It also describes Porter's five forces model for industry environment analysis and discusses analyzing competitors, strategic groups, and key success factors.
The document analyzes Porter's five forces model as applied to the chocolate and cocoa industry. It finds:
1) There is a low threat of new entrants due to barriers like economies of scale, product differentiation, large capital requirements, switching costs, and regulations.
2) The bargaining power of buyers is moderate due to some large buyers but product differentiation, switching costs, and reliance on suppliers.
3) The bargaining power of suppliers is moderate to high because suppliers are concentrated and critical to the industry's product, though suppliers are also dependent on the industry.
4) The threat of substitutes is high due to many alternative flavors, snacks, and gift options.
5) Rival
The document discusses competitive analysis and strategies. It provides examples of how Kenya flowers and Israel citrus industries faced increasing competition but responded through niche and technology strategies. Porter's framework of industry analysis and competitive forces is explained. Competitive advantages can come from low cost production, product differentiation, or complementary supply. Successful strategies analyze competitors and pursue overall cost leadership, differentiation, or focus to outperform others in the industry.
An oligopoly is a market structure with few dominant firms. Firms in an oligopoly are interdependent and must consider competitors' reactions when setting prices or strategies. While competition can occur, oligopolies sometimes engage in collusive behavior such as tacitly setting prices to maximize profits, restricting output. Examples include industries like airlines, banking, and brewing.
This document discusses Porter's five forces model of competition and various concepts related to analyzing industry structure and formulating competitive strategy. It covers the five competitive forces that shape industry competition - threat of new entrants, power of suppliers, power of buyers, threat of substitutes, and rivalry among existing competitors. It also discusses barriers to entry, factors influencing rivalry, and the bargaining power of suppliers and buyers. Finally, it touches on relating a company's strategy to its external environment and positioning the firm to effectively compete within its industry.
This document provides an analysis of Oxford Industries (OXM) and the apparel industry. It discusses key drivers for the apparel industry like GDP, consumer credit, and disposable income. The document analyzes OXM's competitors, market share, growth rates, and financials. It then values OXM stock using the dividend discount and free cash flow to equity models, recommending a sell.
After a decade of offshoring to China due to low costs, companies are now seeking new locations as costs in China rise. While China will still be attractive for some industries, alternatives include Vietnam with lower wages but less developed infrastructure, Mexico with proximity to US markets and skilled labor but security issues, and even reshoring to the US which could become cost competitive. The best option depends on total costs including transportation and proximity to customers, so companies should analyze multiple factors instead of focusing only on low wages.
Strategic Management Theory An Integrated Approach 9th Edition Hill Test BankRamseyRamseys
Full download : http://alibabadownload.com/product/strategic-management-theory-an-integrated-approach-9th-edition-hill-test-bank/ Strategic Management Theory An Integrated Approach 9th Edition Hill Test Bank
International Journal of Sciences: Basic and Applied Research (IJSBAR)Mohammad Nassar
This document summarizes a study on price competition among retailers of Coca-Cola products in Ibadan, Nigeria. The study examined 110 retailers randomly sampled from three local government areas. Ordinary least squares regression was used to analyze the influence of various factors on price variations. The findings were that the Coca-Cola retail market exhibited monopolistic competition with price variations influenced by municipality characteristics, market conditions, and store characteristics. It was recommended that encouraging more retailer entries could help reduce monopolistic powers and price variations.
This document provides a literature review on niche marketing. It defines niche marketing as targeting small, specific market segments to achieve dominance. The review explores reasons for niche marketing strategies, including focusing on suitable markets and increasing returns. It also examines characteristics of niche markets, such as higher costs and prices to compensate for lower volumes. Both advantages, like opportunities for growth, and disadvantages, like vulnerability to changes, of niche marketing are discussed. The review aims to understand niche roles and characteristics to help companies determine if niche marketing is an appropriate strategy.
Heineken has strategically expanded into global markets since the late 19th century. After establishing early exports to Europe and North America, Heineken's post-WWII leadership studied U.S. marketing and used this knowledge to launch the brand worldwide. Heineken refuses to brew beer in the U.S. to maintain its image as an import with cachet. The company recently acquired its longtime U.S. distributor to gain full control over domestic distribution. Firms evaluate costs, benefits, and risks when selecting foreign markets by screening for basic needs, trade potential, economic forces, political/legal landscape, sociocultural factors, and competitive environment.
This document provides an overview of the key market information, production, contracts, and finance considerations for companies participating in the GAÏA simulation. It describes the overall context of small and medium companies from the US, China, and Europe manufacturing and selling headphones. It outlines the competitive landscape between companies from the same and different countries. It also discusses opportunities for cooperation between companies. Several sections cover important business functions like the administrative department, sales force, advertising, pricing, quality certification, production technologies and processes, raw material sourcing, contracts, transaction costs, loans, and the overall economic context.
Wal-Mart was founded by Sam Walton in 1962 and has grown to be the largest retailer in the world. It employs over 1.6 million associates across over 3,700 stores in the US and 1,500 stores internationally. Wal-Mart's strategy has been to offer low prices every day. Its vision is to provide good quality and services to customers while remaining the market leader. Wal-Mart has a significant presence in the retail market in India as well through joint ventures. There is significant growth potential for retailers in India as modern retail makes up only 8% of the total $200 billion retail market.
This document provides an overview of strategies for market entry into emerging markets, specifically for fast moving consumer goods (FMCG) companies. It examines theories of market entry and internalization, as well as characteristics of the FMCG industry and emerging markets. The document then analyzes Carlsberg's entry strategies in India, China, and Russia - evaluating their approaches using the OLI framework and discussing reasons for success or failure in each market.
BRAND ORIENTATION OF SMALL ENTERPRISES: A STUDY BASED ON APPARELS INDUSTRY IN...ijmvsc
This document summarizes a research paper on brand orientation of small apparel enterprises in Khulna City, Bangladesh. The paper studies how brand orientation relates to business performance for small businesses operating in different contexts. Through a qualitative research approach, the paper aims to contribute empirical evidence that branding is important for small businesses as well as large firms. It also provides practical guidance for small business owners on whether and when brand orientation can improve business performance.
COURSE TEXT Chapter 12 Cited Keegan, W. J., & Green, M. C. (2020CruzIbarra161
COURSE TEXT: Chapter 12 Cited: Keegan, W. J., & Green, M. C. (2020). Global marketing (10th ed.). Retrieved from https://www.vitalsource.com
2 Global Marketing Channels and Physical Distribution
Learning Objectives
12-1 Identify and compare the basic structure options for consumer channels and industrial channels.
12-2 List the guidelines companies should follow when establishing channels and working with intermediaries in global markets.
12-3 Describe the different categories of retail operations that are found in various parts of the world.
12-4 Compare and contrast the six major international transportation modes and explain how they vary in terms of reliability, accessibility, and other performance metrics.
Case 12-1 Welcome to the World of Fast Fashion
The world of global fast-fashion is like a three-way horse race. Spain’s Inditex SA is the parent company of specialty retailer Zara; Sweden is home to Hennes & Mauritz AB, better known to shoppers as H&M; and Uniqlo is the flagship brand of Japan’s Fast Retailing.
Part of the appeal of fast fashion is the low prices. Also attractive is the speed at which inventories are replenished and updated with affordable versions of the latest runway trends from the world’s fashion capitals. The need for speed is fueled in part by social media. A key element for some fast-fashion brands is sourcing clothing from countries with low-cost labor in Asia and elsewhere. In Cambodia, for example, more than 400 garment factories are registered exporters.
However, some industry observers note that low prices actually carry high social and environmental costs. Chasing the latest trends means that shoppers often discard inexpensive garments after wearing them just a few times. This leads to a consumer mindset that clothing purchases are disposable, rather than long-term investments. Critics assert that unwanted clothing often ends up in landfills, and that the fast-fashion trend is not sustainable (see Exhibit 12-1).
Exhibit 12-1
Some critics assert that the fast fashion trend contributes to overproduction and a “throw-away” mentality. The result is vast quantities of discarded clothing as well as "deadstock" (out-of-season garments and unused textiles). This Saks Fifth Avenue window display by Vetements was designed to call attention to the problem.
For years, Tadashi Yanai, the founder of the Uniqlo (“Unique Clothing”) chain, pursued a business model that differentiated his company from its European rivals. Uniqlo’s focus was on everyday basics and a new-product development process that relied heavily on innovative materials.
Inditex is the world’s largest fashion retailer, with more than 7,000 stores in 92 countries. In addition to Zara, its brands include Bershka, Pull & Bear, and Massimo Dutti. The company does not advertise, and its motto is “The company doesn’t speak; the customer speaks for the company.” Unlike some of its competitors, Inditex keeps nearly two-thirds of ...
This dissertation examines the environmental and social sustainability of Arcadia Group's "Fashion Footprint" program. The 10,105 word document includes an introduction, literature review on corporate social responsibility and sustainable development, methodology, case studies of the Sustainable Clothing Action Plan and Arcadia Group's program, and conclusion. It analyzes these initiatives and efforts within the fashion industry in the context of achieving meaningful environmental and social sustainability.
BMS510 Logistics And Supply Chain Management.docxstudywriters
This document provides an overview of supply chain management concepts and Zara's supply chain strategy. It discusses key supply chain concepts like being consumer-centric, partnerships, adaptability, risk control, and innovation. It then describes Zara's supply chain process of designing, manufacturing, shipping and selling products in an integrated manner. Zara is able to get products to stores within 2 weeks compared to an industry average of 6 months. The document also discusses how an effective supply chain can provide competitive advantages through cost savings and efficiency. Zara's rapid response supply chain is highlighted as giving it an advantage over competitors. Challenges for Zara's supply chain like unpredictability and expansion are also summarized. Finally, the interrelationships between the
This document provides a case study on the supply chain management of Zara, a global clothing retailer. It discusses Zara's vertically integrated supply chain model that allows it to design, manufacture, and distribute new clothing collections within 2 weeks. This rapid replenishment model has contributed greatly to Zara's success. The document also compares Zara's supply chain to those of other retailers like Myer, Dell, and Toyota, noting differences in their approaches to areas like production, inventory management, and responsiveness to customer demands.
This document summarizes a dissertation submitted to the University of Manchester for a Master's degree in Materials Science. The dissertation examines the influence of store environment on customer satisfaction and behavior toward fast fashion retailers, using Zara as a case study. It includes an introduction outlining the research background, problems, ideas, aims and objectives. It then presents a literature review on the fast fashion market in the UK and an overview of Zara. The methodology section describes both qualitative and quantitative primary research conducted through questionnaires. Key findings are presented from data analysis, including the relationships between store environment, satisfaction and customer behavior intentions. The conclusion discusses implications for fast fashion retailers to create competitive advantages by investing in store design cues to influence customer emotions and behaviors.
The Innovation of Sharing Mode of Clothing Industries in the Internet Ageijtsrd
With the development of the Internet and the emergence of the sharing economy, Chinas clothing industries have entered a more challenging and more competitive environment. Now many traditional clothing enterprises do not integrate their resources well. In this article, through the interpretation of the development format and the theoretical basis of the sharing economy of Chinas clothing enterprises, the way of using offline design, platform sharing and offline production will be traditional. This paper analyzes the innovative mode of clothing production combining with the Internet and the current popular sharing economy. Dan Wang | Jieling Ning "The Innovation of Sharing Mode of Clothing Industries in the Internet Age" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29535.pdfPaper URL: https://www.ijtsrd.com/other-scientific-research-area/other/29535/the-innovation-of-sharing-mode-of-clothing-industries-in-the-internet-age/dan-wang
This document discusses trends in the fashion industry, with a focus on sustainability and the circular economy. It first provides an overview of changes in the competitive landscape for fashion companies, including increased digitalization, economic uncertainty, and fast fashion trends. It then discusses emerging consumer trends like an increased attention to sustainability, growth of online shopping, personalization, and use of influencers on social media. Finally, it analyzes how sustainability and principles of the circular economy are influencing consumer perceptions, especially among younger generations.
This document summarizes a study on supply chain management in the textile industry and a supplier selection model using analytical hierarchy process. It discusses key factors for a successful supply chain in the globalized textile industry. The study presents an AHP model that apparel companies can use to select suppliers and develop a supplier relationship management strategy. The model identifies strategic priorities and weights to select suppliers that align with the company's strategy. The outcome and implications of the model for implementation are also discussed.
1) The garment industry in Bangladesh faces challenges like fast changing fashion trends that require quick response times, long lead times for importing fabrics, and mismatching of materials.
2) Industry 4.0 technologies like RFID, ERP, digital marketing, and advanced manufacturing can help address these issues by enabling real-time inventory management, reducing lead times, and improving responsiveness to customers.
3) Implementing supply chain 4.0 through technologies like IoT, cloud computing, and data analytics can lead to a more efficient supply chain with lower costs, shorter lead times, and higher profits.
This document provides an analysis of Zara and its business model. It begins with an introduction that outlines Zara's profile as the leading brand of Inditex, the largest apparel retailer in the world. It then discusses Zara's unique business model of vertical integration and rapid replenishment.
The document then covers various theoretical concepts relevant to analyzing Zara, including Porter's value chain analysis, PESTLE analysis, and the product lifecycle. It identifies the main issues facing Zara as the need to upgrade its aging POS systems and difficulties expanding beyond Europe due to cultural differences.
The focus areas for analysis are identified as Zara's strategic management decisions, how its information systems support decision making, reasons
Brands and retailers are focusing on flexibility, quality, environmental performance, and innovation to increase perceptions of value for consumers. This translates to specific machinery needs for manufacturers: 1) Flexible machines for fast fashion, 2) Higher quality machines to meet consumer demand for lasting products, 3) Energy efficient machines to lower environmental impact and costs, 4) Machines that can integrate new technologies like wearables, made-to-measure, and waterless dyeing. As value perceptions evolve, dialogue across the supply chain is important to meet changing machinery demands.
The document discusses trends in global apparel sourcing based on surveys of procurement executives. It finds that sourcing costs are expected to rise long-term due to increasing labor costs in China and other factors. In response, companies are looking to diversify sourcing to lower-cost countries like Vietnam, India, Myanmar and sub-Saharan Africa. Compliance with safety and labor regulations is also becoming a higher priority, with many companies strengthening oversight of suppliers in Bangladesh and elsewhere. Proximity sourcing, especially nearshoring to Europe and North America, is growing in popularity as well.
Prior to the COVID-19 pandemic, the fashion industry was making significant progress towards sustainability. Consumer demand and employee expectations were driving brands to commit to ambitious sustainability programs around reducing environmental impacts and improving social standards. Measurement tools showed year-over-year improvements in sustainability performance. However, the pandemic now threatens to undermine this progress as companies focus on short-term economic survival during the crisis.
This report contains the some new ideas about the limited organization business and sole trade organisational business. The learner has described and analysed the businesses of limited company and a sole trader. After that, the learner has analysed the purposes of these two types of organizations along with the ownership structure of these two organizations. After that, the learner has stated the effects of change in the ownership of a sole trader companies. Ten the learner has selected four different stakeholders for two types of businesses that are limited company and sole trader and analysed the how these stake holders influence the purposes of these businesses.
The document discusses the concept of agile supply chains. It argues that agility, not leanness, allows companies to best respond to volatile markets with unpredictable demand and high product variety. An agile supply chain is market sensitive, uses virtual integration through information sharing, has integrated processes among partners, and forms a collaborative network. It also notes that hybrid strategies using both agile and lean approaches may be appropriate depending on specific product demand characteristics. The fashion company Zara is presented as an example that combines agility and leanness in its successful supply chain.
The document discusses Zara's business model and use of technology. Some key points:
1. Zara links customer demand directly to manufacturing and distribution through vertical integration. Designers gather customer data from stores to quickly design and produce new products.
2. Products move from design to stores in just 3 weeks, much faster than competitors. Information technology helps share designs and gather sales data from stores twice weekly.
3. By producing locally and frequently updating stock based on sales, Zara can respond rapidly to fashion trends and consumer demands. This keeps customers returning to stores regularly.
Supply side dynamics of Boutique Fashion in BangladeshIOSRJBM
As a fast growing industry the boutique fashion is the lifeblood of Bangladeshi economy. There are a lots of potential small boutique wear producers for inclusive growth in our economy. However, few studies examined their development, challenges and future prospects. Therefore, the aim of this paper is to investigate the sustainability and growth potential of small boutique wear producers in Bangladesh. A survey and individual interviews were conducted with professionals and owners of the boutique fashions. A triple triangle factors analysis was used to indentify challenges at the firm internal, industry and macro level for ensuring sustainability and growth potential. Based on the findings, an action plan is proposed to take effective decisions in order to enhance the supply side dynamics in the long run. The study has implications for small boutique fashion wear producers and policymakers.
This document discusses competitor analysis and brand development. It begins by defining competitors as either direct or indirect. Direct competitors offer similar products, while indirect competitors satisfy similar needs. It then discusses Porter's five forces model for analyzing competition, including the threat of new entrants, substitute products, rivalry between firms, supplier power, and buyer power. A large part of the document focuses on branding, defining it as a way to differentiate products and create monopoly power. It traces the history of branding from agricultural practices to modern marketing strategies. Branding allows firms to charge premium prices and build long-term, stable demand.
A Study Of The Human Rights Implications Of The Fast Fashion Industry In AsiaGina Rizzo
This document discusses a study on the human rights implications of the fast fashion industry in Asia. It provides background on the fast fashion business model and global supply chains that rely on low-cost production in Asian countries. The main human rights issues discussed are poor enforcement of labor laws regarding wages, working hours and conditions in garment factories. Initiatives by different groups to address these problems are also examined.
Similar to Crimson Publishers - Who Made Our Clothes Under Which Conditions? A Call for Ethical Standards in the Fashion Supply Chain (20)
Certain Physical Characterization into Composite Leaf Fibres of Agave America...CrimsonpublishersTTEFT
Newer natural fibres are often explored due to eco-friendliness and availability of such fibres in the specific regions. Agave americana L fibres, extracts from the leaves of the Agave plant, represent the naturally available cellulosic fibres with interesting properties. Voids, in the cross-sections of the fibres, were observed in the microscopic analysis and the fibres exhibit high degree of crystallinity. Bundle fibres extracted from the leaves exhibit low elongation with high tensile stress compared to many non-apparel fibres and the moisture, thermal properties similar to that of any other cellulosic fibres.
For more open access journals in crimson publishers Please click on link: https://crimsonpublishers.com
For more articles on Trends in Textile Engineering & Fashion Technology Please click on link:
https://crimsonpublishers.com/tteft/
Certain Physical Characterization into Composite Leaf Fibres of Agave America...CrimsonpublishersTTEFT
Newer natural fibres are often explored due to eco-friendliness and availability of such fibres in the specific regions. Agave americana L fibres, extracts from the leaves of the Agave plant, represent the naturally available cellulosic fibres with interesting properties. Voids, in the cross-sections of the fibres, were observed in the microscopic analysis and the fibres exhibit high degree of crystallinity. Bundle fibres extracted from the leaves exhibit low elongation with high tensile stress compared to many non-apparel fibres and the moisture, thermal properties similar to that of any other cellulosic fibres.
For more open access journals in crimson publishers Please click on link: https://crimsonpublishers.com
For more articles on Trends in Textile Engineering & Fashion Technology Please click on link:
https://crimsonpublishers.com/tteft/
This season, three New York City museums included clothing designed to improve accessibility in exhibitions on fashion and design. They featured innovations in adaptive technology expressed in textiles, clothing and accessories. In all three cases, the museums developed enhanced web sites and educational projects aimed at students, as well as attracting their usual general-interest audiences.
Evaluation on a Promising Natural Cellulose Fiber- Calotropis Gigantea FiberCrimsonpublishersTTEFT
Calotropis gigantea fiber is a kind of natural cellulose fiber that regains increasing attention nowadays, thus it is evaluated here aiming to replace cotton or kapok fibers to some extent. New discoveries are found about its morphological structure, indicating that it has sharper, closed tip and coarser, open end, and that it usually has 4-6 grooves along its longitudinal axis, with fully distributed microvillus on its surface. The FTIR spectrum shows the fiber mainly contain cellulose, lignin and hemi-cellulose component. X-ray diffraction analysis shows that the fiber has higher crystallinity in comparison with kapok fiber. In term of breaking strength, the fiber is obvious lower than cotton fiber and a little higher than kapok fiber. Furthermore, the fiber has good water absorbing and releasing capability, implying it has excellent water transmissivity.
Green Processing of Dyes: Influence on Physico- Mechanical Properties, Color ...CrimsonpublishersTTEFT
The present article describes the role of dyes in enhancing the various properties of fibers along with their brief history and the recent methodologies used to minimize their negative impact on environmental safety. Since primitive age, natural dyes were used as coloring agents in textile industry. Later, in nineteenth century, synthetic dyes due to their high dyeability, varying shades ability, and comparatively low cost have replaced natural dyes. However, environmental concerns like water and marine pollutions forced the textile industry to develop new methodologies for the utilization of natural dyes with improved properties. Literature reveals that the use of new and advanced techniques have enhanced the dyeability, strength, softness, antimicrobial and other properties of textiles. These are mainly classified in to; a) the chemical modifications of natural dyes, and b) the surface modification of fabrics. In addition to these, the negative and positive impacts of these methods along with the future scope of research have also been discussed.
An Overview on Objective Evaluation of Wicking Property of the Textile Materi...CrimsonpublishersTTEFT
This document summarizes objective methods for evaluating the wicking properties of textile materials. It discusses that wicking is the spontaneous flow of liquid in porous materials driven by capillary forces. It then describes various objective methods that have been developed including volumetric, observation, optical, spectroscopic, electrical, pressure-based, magnetic resonance, and temperature detection methods. These methods aim to overcome the limitations of subjective evaluations and allow for accurate, repeatable assessment of how quickly fabrics absorb and transport moisture away from the skin.
No Kids, No Fashion, No Future – Notes on the Missing Piece in the Discussion...CrimsonpublishersTTEFT
In regards to fields of research and education on fashion and textiles, the question of how to make the fashion industry more sustainable is the most pressing of all. As assistant professor in fashion studies at Lund University and member of the board of the Swedish research program Mistra Future Fashion, this is a topic that I have worked with regularly for a number of years [1]. Recently, however, I have begun to despair: the topic is so wide it seems near impossible to cover a discussion on both over-production and overconsumption at the same time.
Indian Textile Industry: Opportunities, Challenges and SuggestionsCrimsonpublishersTTEFT
The Indian textile industry is highly fragmented and labor-intensive. The textile industry is being dominated by unorganized sector and Small and medium industries. The foreign investors are not investing in the textile sector which is also one of the areas of concern. The government policies and tax structure are not favoring this industry textile industry is highly competitive and the present situation demands the companies to benchmark their products with the best in the world and try to upgrade the quality and production processes. The paper tries to provide insights into the Indian textile industry. The article attempts to explain the opportunities, challenges and suggestions.
This document discusses the traditional Koorai Nadu saree from the Tamil Nadu region of India. The Koorai Nadu saree originated in the Mayiladuthurai area of Tamil Nadu and was traditionally worn by brides during wedding ceremonies. It is woven from a blend of silk and cotton with distinctive checked patterns. However, demand for the saree has declined in recent decades as weaving traditions have died out. Some efforts are now being made to revive production of the traditional Koorai Nadu saree through organizations like Co-Optex to preserve this cultural craft.
Indian Textile Industry: Opportunities, Challenges and SuggestionsCrimsonpublishersTTEFT
The document summarizes opportunities and challenges facing the Indian textile industry. It notes that India is the world's second largest textile producer and exporter, but the industry faces challenges such as fragmentation and lack of foreign investment. The industry provides significant employment but is also highly competitive globally. Government initiatives aim to support the industry through skills training, technology upgrades, and incentives, while the industry sees opportunities in the growing domestic market in India and from e-commerce companies.
This case report describes a 58-year-old female patient who presented with pain in her lower left back tooth. During examination, the clinicians observed involuntary, repetitive movements of the patient's mandible resembling teeth grinding. No other abnormalities were found. Based on the clinical findings, the patient was diagnosed with oromandibular dystonia. Oromandibular dystonia is a type of focal dystonia affecting the mouth, jaw, and tongue muscles, causing involuntary contractions and repetitive movements. It can be difficult to diagnose and is managed through a multidisciplinary approach.
This document discusses the traditional Koorai Nadu saree from the Tamil Nadu region of India. The Koorai Nadu saree originated in the Mayiladuthurai area of Tamil Nadu and was traditionally worn by brides during wedding ceremonies. It is woven from a blend of silk and cotton with distinctive checked patterns. However, demand for the saree declined as weaving traditions changed. Now some efforts are being made to revive the craft, including through a weaving cooperative that produces a small number of Koorai Nadu sarees each month using traditional techniques. The saree remains an important part of cultural heritage in the region.
Plasma Treatment as Green Technology for Dyeing of Textile FabricsCrimsonpublishersTTEFT
Use of synthetic dyes for dyeing of textile fabrics are most problematic environmental concerned for textile industry owing to their toxic effect
on ecosystem. Thus, sustainable novel technologies for textile dyeing are needed that utilize enhanced dye uptake and improved performance
characteristics of fabric. Such technology may reduce dye concentration in waste-water effluents from textile sector and ultimately become energy
efficient and cost effective. Plasma technology has proven to impart enhanced dye exhaustion, dye penetration, dyeing in shorter time with minimal of
chemical auxiliaries and energy usage. The potential attributes of plasma on textile dyeing is discussed in this article..
Photoluminescent pigments are specialty pigments which possess a unique property of glow in the dark. In absence of any light source in dim and dark light conditions, photoluminescent pigments tend to emit light which opens up new areas of applications, especially in the field of textiles. This paper explores the concept of photoluminescence and factors affecting the performance. This paper also looks at the various applications that have emerged in the area of textiles while embarking on future scope of research and experimentation.
The Application of the Classification of the Theory of Inventive Problems Sol...CrimsonpublishersTTEFT
The survey was conducted for the theory analyzes TRIZ (theory of inventive resolution), evaluating its methods, procedures and discussing its proposal for encouraging human creative process through the design methodology and tools for the technological fabric designer. The study identified several alternatives, working with the identification of the features analyzed in the array.
The document discusses new methodologies used in textile and fashion product design. It describes methodologies like design thinking, collaborative creation, and co-creation that encourage innovation and creativity. Design thinking focuses on problem-solving and promoting well-being through multidisciplinary collaboration. Collaborative creation involves working together as a team to develop products and share ideas. The document concludes that these new methodologies, along with tools and theories, can help improve the design process and innovation when developing textile products.
The purpose of the study is to reflect on the methods used by the manufacturing that provide subsidy for the construction of the product and also, to
meet the need of customers. In this context, the intention, therefore, is to judge, design methodologies that help the process of creativity and innovation
to improve the fabric. The research developed through the bibliographical reference, intends to analyze and reflect on the methodologies applied to
textile and fashion design for product development.
Trends in Mathematical Stitchless Model of Volume Fitting Stretch for Design ...CrimsonpublishersTTEFT
Trends in Mathematical Stitchless Model of Volume Fitting Stretch for Design of Sport Bra by Elsayed A Elnashar in Trends in Textile Engineering & Fashion Technology
An Intelligent Skin Color Detection Method based on Fuzzy C-Means with Big Da...CrimsonpublishersTTEFT
An Intelligent Skin Color Detection Method based on Fuzzy C-Means with Big Data by Chih Huang Yen in Trends in Textile Engineering & Fashion Technology
ARENA - Young adults in the workplace (Knight Moves).pdfKnight Moves
Presentations of Bavo Raeymaekers (Project lead youth unemployment at the City of Antwerp), Suzan Martens (Service designer at Knight Moves) and Adriaan De Keersmaeker (Community manager at Talk to C)
during the 'Arena • Young adults in the workplace' conference hosted by Knight Moves.
PDF SubmissionDigital Marketing Institute in NoidaPoojaSaini954651
https://www.safalta.com/online-digital-marketing/advance-digital-marketing-training-in-noidaTop Digital Marketing Institute in Noida: Boost Your Career Fast
[3:29 am, 30/05/2024] +91 83818 43552: Safalta Digital Marketing Institute in Noida also provides advanced classes for individuals seeking to develop their expertise and skills in this field. These classes, led by industry experts with vast experience, focus on specific aspects of digital marketing such as advanced SEO strategies, sophisticated content creation techniques, and data-driven analytics.
Connect Conference 2022: Passive House - Economic and Environmental Solution...TE Studio
Passive House: The Economic and Environmental Solution for Sustainable Real Estate. Lecture by Tim Eian of TE Studio Passive House Design in November 2022 in Minneapolis.
- The Built Environment
- Let's imagine the perfect building
- The Passive House standard
- Why Passive House targets
- Clean Energy Plans?!
- How does Passive House compare and fit in?
- The business case for Passive House real estate
- Tools to quantify the value of Passive House
- What can I do?
- Resources
Maximize Your Content with Beautiful Assets : Content & Asset for Landing Page pmgdscunsri
Figma is a cloud-based design tool widely used by designers for prototyping, UI/UX design, and real-time collaboration. With features such as precision pen tools, grid system, and reusable components, Figma makes it easy for teams to work together on design projects. Its flexibility and accessibility make Figma a top choice in the digital age.
EASY TUTORIAL OF HOW TO USE CAPCUT BY: FEBLESS HERNANEFebless Hernane
CapCut is an easy-to-use video editing app perfect for beginners. To start, download and open CapCut on your phone. Tap "New Project" and select the videos or photos you want to edit. You can trim clips by dragging the edges, add text by tapping "Text," and include music by selecting "Audio." Enhance your video with filters and effects from the "Effects" menu. When you're happy with your video, tap the export button to save and share it. CapCut makes video editing simple and fun for everyone!
Storytelling For The Web: Integrate Storytelling in your Design ProcessChiara Aliotta
In this slides I explain how I have used storytelling techniques to elevate websites and brands and create memorable user experiences. You can discover practical tips as I showcase the elements of good storytelling and its applied to some examples of diverse brands/projects..
Decormart Studio is widely recognized as one of the best interior designers in Bangalore, known for their exceptional design expertise and ability to create stunning, functional spaces. With a strong focus on client preferences and timely project delivery, Decormart Studio has built a solid reputation for their innovative and personalized approach to interior design.
Revolutionizing the Digital Landscape: Web Development Companies in Indiaamrsoftec1
Discover unparalleled creativity and technical prowess with India's leading web development companies. From custom solutions to e-commerce platforms, harness the expertise of skilled developers at competitive prices. Transform your digital presence, enhance the user experience, and propel your business to new heights with innovative solutions tailored to your needs, all from the heart of India's tech industry.
Explore the essential graphic design tools and software that can elevate your creative projects. Discover industry favorites and innovative solutions for stunning design results.
Technoblade The Legacy of a Minecraft Legend.Techno Merch
Technoblade, born Alex on June 1, 1999, was a legendary Minecraft YouTuber known for his sharp wit and exceptional PvP skills. Starting his channel in 2013, he gained nearly 11 million subscribers. His private battle with metastatic sarcoma ended in June 2022, but his enduring legacy continues to inspire millions.