"Fast Fashion: Cheap and Chic"

Before throwing away/recycling the NNN newsletter, I typed up this article in it.

Fast Fashion: Cheap and Chic

平「衣」近人

from NNN (Nani News Network) Dec. 2011

李為堯

In the past, Zara, H&M, and Uniqlo were names relatively unheard of compared with Louis Vuitton, Burberry, and Gucci. But in recent years, they are taking market share from these high-end clothing brands. Like luxury brands, these fast fashion companies employ world-class designers to guarantee the quality of their clothing. They are very sensitive to the latest trend, the style showcased on catwalks or worn by celebrities. Most important of all, these stylish clothes are sold in low price [at low prices].

After fast fashion successfully hit the market, fashion is no longer a concept based on seasons. It is changing all the time. Take Zara for example. This Spanish fast fashion company has its in-house designer team. Unlike other companies outsourcing to Asian and African countries to cut labor costs, more than half of Zara’s factories are located in Europe. With these two factors combined, from drawing board to store shelf, Zara needs only two weeks to update the latest trend for the customers, for whom being in fashion is always better than out of fashion.

As these fast fashion companies moved the battle field from Europe and the U.S. to Asia, Taiwan is for sure one of the markets they compete for. In November, 2011, fast fashion companies started to open flagship stores in the Eastern District of Taipei. The long-waiting lines outside the stores proved the success of their marketing strategies, adding the pressure to local brands and luxury brands. From now on, fashion is not the privilege of the rich anymore: everyone has the ability to wear cheap and chic.