Fashion industry is also known as clothing industry. It involves the manufacture of garments, involving the conversion of cloth or fabric into wearable garments with different designs. The manufacturing process is often the same worldwide, regardless of where the manufacturer is although the designs they come up. It involves creative and critical thinking in order to come up with unique and different art of manufacturing garments in order to face competitors under the same industry (Jones, 2006).

Short and Long-run Trend

Market models explain the real world using market theories in order to explain how it works. Fashion industry has undergone several changes in the market, which aims at expanding the industry. Fashion industry is monopolistic; as it keeps on differentiating its products, though there are highly substituted due to increased selection of style by the society for the past three decades. There are many buyers and sellers in the...
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