Export Essentials Overview
Increasingly, fashion and textile businesses are “Born Global”. Whilst this has always been the case, the fashion and textile industries became Global far earlier than many other industries. In the same way that many companies are driven to source manufacturing overseas, most fashion and textile companies cannot survive on the business they can generate in the UK and their products are often more readily appreciated further away from home.
Generally speaking, companies which export are stronger and have a longer survival rate than those which do not. Most companies choose to export to expand their business by selling to new markets with an interest in their products, to build and promote their brands as part of an omnichannel strategy, to increase scale within their business through increased turnover (often leading to reduced production and operating costs) etc. In the UK in particular, lots of brands export to reduce their dependence on the domestic market which is excessively price–resistant and increasingly moving online.
There are many aspects of exporting that must be taken into the consideration – starting with a detailed research into the strategy for reaching new markets, through various trends and consumer habits throughout the world, to specific legal requirements.