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International Trade in Fashion
20
Flashcards
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Exchange Rates
Fluctuations in currency valuation affect the cost of importing and price competitiveness of fashion goods in different markets.
Logistics
Covers the management of the movement of fashion goods, influencing speed to market and inventory levels.
Trade Embargoes
Prohibits trade with specific countries, disrupting the supply chain and market entry for fashion companies.
Market Diversification
Entering new international markets to reduce risk and increase opportunities for fashion brands.
Protectionism
Economic policies that protect domestic industries can influence the import of foreign fashion goods, affecting market competition.
Incoterms
Defines delivery terms and responsibilities between buyer and seller, crucial for international fashion logistics.
Intellectual Property (IP) Rights
Essential for protecting fashion designs, trademarks, and patents internationally to ensure brand uniqueness and value.
Trade Agreements
Bilateral or multilateral agreements that shape fashion trade by reducing tariffs and easing market access.
Sustainability
Adopting eco-friendly practices in the fashion trade to mitigate environmental impact and cater to consumer demands.
Customs Clearance
The process of passing goods through customs before they can enter or leave a country, essential for fashion items to be sold globally.
Supply Chain Management
The oversight of all steps in the fashion product journey, from material sourcing to delivery to the end consumer.
Compliance and Regulation
Adhering to international laws and regulations is crucial for fashion brands to operate legally across borders.
Counterfeit Goods
Fake fashion merchandise harms brand reputation and reduces profits for legitimate businesses.
Foreign Direct Investment (FDI)
Investment by a fashion retail company in another country, which can affect market expansion and cost-efficiency of production.
Brand Licensing
Allows fashion companies to internationally expand their brand without direct investment, influencing market presence and product range.
Tariffs
Custom duties imposed on imported garments affecting the cost and pricing strategy in global fashion retail.
Quotas
Limits the quantity of goods that can be imported, impacting the availability and variety of international fashion brands in a market.
Grey Market
Unofficial importation of fashion goods through channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer.
Economic Sanctions
Restrictive measures that can limit trade in the fashion industry with certain countries and impact sourcing strategy.
Sourcing
The process of finding and acquiring raw materials or finished fashion products internationally, which affects cost and quality.
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