FAST FASHION STRATEGY : How ZARA Took Over The Fashion World

WHAT IS FAST FASHION ?

Fast fashion is the term used to describe clothing designs that move quickly from the catwalk to stores to take advantage of trends. The collections are often based on styles presented at Fashion Week runway shows or worn by celebrities. Fast fashion allows  mainstream consumers to purchase the hot new look or the next big thing at an affordable price.

Fast fashion became common because of cheaper, speedier manufacturing and shipping methods, an increase in consumers' appetite for up-to-the-minute styles, and the increase in consumer purchasing power—especially among young people—to indulge these instant-gratification desires. Because of all this, fast fashion is challenging the established clothing labels' tradition of introducing new collections and lines on an orderly, seasonal basis. In fact, it's not uncommon for fast-fashion retailers to introduce new products multiple times in one week to stay on trend .

ZARA 

serving as an exemplar of how to cut the time between design, production, and delivery. Zara's designers can sketch a garment—the company sells men's, women's, and children's clothing—and have the finished piece appear on store racks in as little as four weeks. It can modify existing items in as little as two weeks.

Its secret to this rapid turnover is its ownership of a relatively short supply chain. Over half its factories are closely located to its corporate headquarters in A Coruña, Spain—including countries like Portugal, Turkey, and Morocco.

Its fast turnaround time aids another key Zara strategy: to stuff the stores with more goods, offering the consumer an unparalleled amount of choice. It produces 10,000-plus pieces annually, vs. an industry average of 2,000 to 4,000 pieces.

In 2019, Zara's annual net sales (including those of Zara Home) were €19.5 billion (about $22 billion). It has 2,138 stores in 96 countries, as of mid-2020, but a strong online operation as well.