Global Trade | Luxury Brands|Fashion Week | Marketing |Models | Instagram
When it comes to the fashion industry, we all think about images of Fashion Week, models in swimwear or beautiful dresses and runways. Large brand names pop to our mind, and create a desire to go online right away to do some shopping.
But with an increase in Global Trade or as we know it “Globalization”, high fashion runways are just a small part of the textile and apparel industry. According to the United States Fashion Industry Association, thousands of “companies in between that produce and sell clothing, shoes, and other textile products”.
Global Trade – Globalization
The Fashion Industry has always had a global appearance, but recently is undergoing some changes, both in sourcing as well as in developing new markets. Asia with its masses has opened to the public and what has been a market only for sourcing, has now developed into a market to offer and sell products in.
H&M, the world´s second largest retailer, has developed great products for the Arabic world and developed a presence there.
Language Service Providers (“LSPs”) play a major role in developing new markets, by supporting clients with Localization, Globalization and Internationalization Solutions.
Luxury Brands
Today 29 % of all luxury goods are being bought in China. The Chinese love luxury and it has developed not only to a status symbol, but has become an essential part in the Chinese society, representing stability and respect. Any (luxury) brand not offering their products to Chinese consumers, is already missing out on a huge market. Necessarily it is not immediately required to open local shops in China, but the Chinese e-commerce market is booming as well, and a first step should be to localize the shop and website to Chinese, to stay competitive and win a certain market share.
Fashion Week
Cities such as Milan, London, New York, Paris and Berlin still put some magic on us when beautiful models dressed in the newest and astonishing outfits walk down the runway. Every year it catches our breath, but this is just a small piece of the true fashion industry, being worth now 1.5 trillion USD. And the industry continues to grow.
On the top growth cities, you can find 16 being based in emerging markets, according to a recent McKinsey report, developing further to reach a stunning quarter of the world market by 2025.
By doing so, the opportunities to develop into such markets is huge. And what we learnt from Globalization, doing so we require translation & localization services.
Marketing
LSPs are challenged with a diverse content, ranging from marketing, product descriptions, labels to Press Releases and more. A good LSP will support you with a one stop solution, that caters to all your needs, rather than having you choose different LSPs.
Preserving a corporate identity and a brand message is very important, both to consumers and fashion leaders. A reliable LSP can help you reach that goal by using Translation Memory and CAT Tool Systems, that will help you maintain consistency in your translations and messages.
Models
With social media becoming part of a model´s ability to succeed in the fashion industry, companies pay much more to the model who has 1 million followers as opposed to the model with only 100. Followers are the new currency when it comes to exposure, and brands and consumers flock to these style icons who grace the social media platforms such as Instagram, Twitter, YouTube, Facebook and Snap Chat. This is globalization at a click of a button and post from a smartphone.
There is a community using Instagram on all levels. You have followers who are fans of their favorite musician, magazine, celebrity, brand, and style icons. Then you have the various types who use Instagram to get ahead in life and gain popularity, whether that be fashion bloggers, travel bloggers, models, photographers, small businesses and more. Another aspect is fame. But how can you take this as an advantage? Well – think global. Keywords in different language attract a multicultural audience, translation of content will help you reach more people and benefit marketing wise having a wider range. These are just some aspects of a multilingual Instagram account – that also help developing a global Instagram Influencer!
Our Solutions
We develop a strategy matching your needs and will consult you with your content. Fashion content is rather fast outdated, websites need to be constantly updated and new content needs to be created. We can not only provide you with SEO friendly content, translation & localization services, but generate a strategy for you, making sure you are on top of the market leaders, by benefiting from Post-Editing Solutions to minimize your budgets, as well as newest technology in both CAT Tools and Quality Assurance Software, to maximize the quality and turnaround of content you need fast into multiple languages.
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If you wish to receive a detailed offer or consultation on Wagner Consulting´s solutions tailored to the fashion industry, then please feel free to contact our Sales Team, who will gladly assist you. Fashion Industry Practice Division at Wagner Consulting |
