Look at the image, doesn't look so familiar until recently right? TopShop is a newly opened retail store that sells fashion clothing like most other stores in Soho, New York. TopShop originates from the U.K and is also a British-based fashion which seems to be fitting in perfectly in New York as fast-fashion and is already starting to dominate some of the shoppers in the area. Competition comes..... as TopShop offer their new trends and cheap clothes. Our economy is yet again, being dominated by the fashion industry. Even in such a tough recession situation, the fashion markets are still going strong. Sales may be dropping, but not doing horrible in any sense. I mean, you would expect sales to drop like crazy or even deplete in a recession, but no, people are still buying, even some families that are not bringing in as much income as they use to. Fashion is a huge addiction that even a below average New Yorker can not stop. "New York is one of those first three or four cities that every fashion brand wants to operate in," said Sir Philip Green, owner of Topshop's parent company, Arcadia Group (source:http://www.huffingtonpost.com/2009/04/01/topshop-comes-to-america-_n_181931.html). This is unbelievably true and what I have been trying to explain the whole time. However, New York is not the only place, just more dominant about fashion. The thing people hardly even realize is that America doesn't even produce these products, they were made far off, like on the other side of the globe (China). That's the problem, America is not only loosing money but profiting others because we always have to get our raw materials/products from someone else. We are more of a importer than a exporter which is not really a good thing. Anyways, Philip Green is the owner of Topship as well as a very brilliant man who knows to insert his style of fashion in the most busy and best place in New York. Not only that but he is also planning to expand to about 15 stores in New York, watch out for him to all those other Fast-Fashion retail stores out there!
Ok, so what is fast-fashion and how come Topshop is able to pull of a stunt like this in gaining sales once they even step foot in New York City? Fast-Fashion is simply when trends keep changing and that consumers, most of them in youth stages, expects fashion companies and stores to meet their expectations. Hmmm, sounds easy right, but how can you always come up with new ideas and fashions so fast and a consumers ever lasting changing taste..? Hard right, that's how fashion effects the economy, whether it rises or drops in sales, it will create a great impact. The more sales the better because it keeps our society moving along. "Fast-fashion chains offer shoppers two key propositions: They make the trendiest styles affordable, and they bring fashion to market fast." Took this sentence from the huffingtonpost article and I can't help agree more. This is exactly what I'm talking about and the only way to achieve success in the fashion world in a tough economy.
Well, talking about Topshop, I noticed it quite a few times walking by in Soho and until I read this article, http://www.huffingtonpost.com/2009/04/01/topshop-comes-to-america-_n_181931.html, I knew I wasn't hullucinating. When I strolled down Broadway on a busy Saturday afternoon, I can't help but to notice a surprising large line down the block on this new fashion store I just found out was named Topshop. I mean, before that day, I already seen it, but it seems wack, atleast for me so I did't go inside, but that day, wow! I guess New Yorkers are only seeing CHEAP in their eyes these days.
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