Business Environment of Fashion Industry

Business environment
of fashion industry

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Impact of pandemic on fashion industry.....................................................................................3
PESTLE analysis of fashion industry.........................................................................................4
Porter's five forces of fashion industry........................................................................................5
Opportunities and challenges of forces in fashion industry........................................................6
Adaptability of changing environment........................................................................................7
CONCLUSION ...............................................................................................................................8
REFERNCES:..................................................................................................................................9
Books and Journals:....................................................................................................................9

INTRODUCTION
Business environment get changes day to day as it become more complex. It is identified
that business environment is very dynamic nature so that's why it is very necessary for every
company that they should take an corrective cation in order to analyse the market. Business
environment of fashion industry becomes very competitive and dynamic (Silva, Duarte and
Sundetova, 2020). Day to day trends are continuously changes which creates challenges for
companies that how they can deal with the customers' expectations. It is identified that
companies need to analyse the market so that they can builds strategies accordingly. In this
context, Burberry in undertaken for this report as it is the luxury fashion company. Burberry is
the UK based companies that deals in designing and distribution fashionable clothes to the
consumers. Their headquarter has located in London, England. This report is based on analysis
of business environment of fashion industry as their growth is day to day continuously grow.
MAIN BODY
Impact of pandemic on fashion industry.
Fashion industry becomes one of the fastest growing industries in theses days. Business
environment consist external market conditions that are not in hand of consumers so that 's why
it is necessary for companies that they should know the tools and techniques in order to reduce
the complexity of business environment. After pandemic situation it becomes more competitive
and complex so companies need to find a solution in order to reduce and overcome with the
complexities (Vanderploeg, Lee and Mamp, 2017). Burberry is the luxury fashion company that
designs and manufactures fashionable clothes, due to pandemic situation they face hurdles in
order to run their business. It is identifying that COVID-19 giving a great impact on fashion
industry as government announced that all manufacturing plans were closed. So that's why it
becomes very difficult for fashion industry that how they can run their business. Everything is
closed such as cancellation of events, closures of stores, etc. These things giving a great impact
on fashion industry. During pandemic situation, fashion industry faced a great impact in the
market. They are not just facing challenges in during pandemic conditions but also after
pandemic situation they are facing complexities such as declining in the fashion industry market.
The impact can be more understand with the help of following points: