World Market: Textiles to Retailing
34.344/34.844

COURSE DESCRIPTION:

A study of U.S. and global trade in apparel and home furnishings.  Trade principles, history, legislation and importing/exporting are stressed.  Global statistics and trend s in relation to the chain of the apparel and home furnishings industries are analyzed.  Such topics as multinational corporations, mergers, and world trade for companies from textiles through retailing are investigated.  Research of international industries such as jewelry, cosmetics, footwear and fur is conducted.

Prerequisite:
34.245  Psychological and Sociological Aspects of Clothing and Textiles  

REQUIRED  TEXTBOOKS, MATERIALS & READINGS

1. Readings packet for each unit.

2. Handouts

3. Morrison, T. Conway, W. and Boden G. (1994). Kiss bow, or shake hands. Holbrook,

          MA, Adams Media Corporation.

4. (Expect publication early 2005)  purchase later in the semester. US Superintendent of

          Documents. Importing into the United States. Washington, D.C. US Government.

5. Rand McNally. (2002) Classroom Atlas. Skokie, Illinois. Rand McNally.

           http://www.k12online.com/default2.asp

RECOMMENDED TEXTBOOK

Fairchild Publications: 2003, new edition.  Who’s Who in Fashion. New York: Fairchild

Publications.

COURSE OBJECTIVES: (condensed)

I. BUSINESS ARRANGEMENTS

Upon the successful completion of the course, students will be able to give examples of, identify target markets, describe price points, and evaluate the type of business arrangement given a scenario of descriptive characteristics on the following:

                        Types of Business Arrangements

                                    1. Employer/Employee

                                    2. Partnerships

                                    3. Corporations

                                    4. Multinational Corporations

                                    5. Franchising

                                    6. Licensing (Brands, private label)

Upon the successful completion of the course, students will be able  to identify the designers given related to their:

                                    1. Licensing Agreements

                                    2. American & Worldwide markets

II. THE GLOBAL MARKET PLACE TODAY

Upon successful completion of the course, students will be able to define, list major characteristics and critique businesses scenarios, and critique effects of the following situations in the world wide fashion industry:

            Mergers, Acquisitions, Buyouts

Stock Options,

Chapter 11,

Bankruptcy,

Initial Public Offerings (IPO). 

III. TRADE

Upon the successful completion of the course students will

A. Investigate a country and analyze that country’s cultural, political, economic, and future potential in the area of apparel, home furnishings, and retailing. Complete a paper that critiques that country’s possibility for textile/apparel/retail globalization and make recommendations for “cultural sensitivities” needed according to the Yale model of “Ten factors of doing business internationally.”

            B. Be able to describe & analyze current factors affecting the world market of imports and exports, including theory.  Emphasis will be on government, industry, business interaction, and legislation.

            C. Evaluate Regions/countries for product sourcing including European Union (EU), Asia, North American Free Trade Agreement (NAFTA), Caribbean Basin Initiative (CBI), Africa, and the U.S.A.

            D. Critique current issues

IV. ECONOMICS OF THE TEXTILE, APPAREL/HOME FURNISHINGS & RETAIL INDUSTRY

Upon successful completion of the course students will be able to read, interpret data, and critique on an exam the

            A. Statistics for textile end uses of apparel and home furnishings

            B. Statistics and issues of International Trade

V. INDUSTRY INVESTIGATIONS/ANALYSIS

Upon the successful completion of the course, the student will

A. Become an "expert" on an industry related to clothing, textiles and/or home furnishings.  (See Industry Guidelines)

            B.  Role play a business meeting on assigned industry..

            C. Conduct a variety of techniques and critique evaluations of self and others

 

Students share their cosmetics and home furnishings research

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