International Fashion Marketing Assignment Example | Topics and Well Written Essays - 5000 words

International Fashion Marketing - Assignment Example The paper "International Fashion Marketing" analyzes the International Marketing in the fashion industry. Due to its nature these emerging markets are also witnessing a surge in new areas of business like fashion and other luxury items. There are many factors to be considered by a company in the case of international expansion. The political atmosphere, the economic growth, local work and social culture, the level of competition that exists, the legal factors, foreign trade policies of the intended market, and many other related factors are to be understood and analyzed in order to decide which market to enter. Understanding of these factors is also essential to compete and be successful in such markets. This paper is a study of the entry factors for the multinational fashion house Ralph Lauren into the Indian or Russian markets. The market and the company will be analyzed using factors like SWOT analysis, Porter’s five forces model, PEST analysis, TOWS matrix, pull and push s trategy etc. Culture of a country is also an important factor when entering into international markets. This is especially relevant here since the culture that exists in the home country of Ralph Lauren and India is different. Polo Ralph Lauren Corporation is a leader in the design, marketing and distribution of premium lifestyle products in four categories: apparel, home, accessories and fragrances. For more than 35 years, Polo’s reputation and distinctive image have been consistently developed across an expanding number. of products, brands and international markets. Ralph Lauren is developing at a rapid rate than when founder Ralph Lauren first entered the arena 40 years ago. With powerful brands such as Polo by Ralph Lauren, RRL, Rugby, and Club Monaco, the company designs and markets apparel and accessories, home furnishings, and fragrances. Its collections are available at some 10,800 locations worldwide, including many upscale and mid-tier department stores. The compan y also operates about 315 Ralph Lauren, Club Monaco, and Rugby retail stores worldwide as well as the e-commerce sites RalphLauren.com and Polo.com. Ralph Lauren began with a collection of ties, has grown into an entire world-redefining American style. Polo is known for providing quality products and creating worlds that invite people to take part in our dream. They position themselves as the innovators of lifestyle advertisements that encourage customers to participate in that lifestyle. (Industry centre -textile- apparel clothing 2009). Emerging markets: Many companies are now looking towards emerging markets as a part of their expansion strategies. Such markets are those "Developing foreign markets, involving greater volatility and higher risk than established markets." (Basic investment terminology). The term developing is of importance since it is possible to grow in such circumstances even though emerging markets tend to be more volatile and risky than established ones. The two emerging markets that are to be studied for entry by Ralph Lauren are India and Russia. Even though both are promising market destinations, there are vast differences in policies, politics, economy, social structure, technology and other factors between these two countries. Russia is a very young political entity and was formed only after the collapse of the erstwhile Soviet Union. The communist system of governance that has been in existence since the revolution during the early part of this century has now been replaced with a democratic system of governa