26 Mar STUDY ON SUCCESSFUL STRATEGIES FOR THE TEXTILE SECTOR: BRANDING & RETAIL
“There are no sectors in crisis, but strategies of the past which prevent companies from growing”
Starting point: The fashion textile sector is considered one of the first sectors of the industry which received the impact of economic crises and the growing weight of low-cost countries as productive poles. For this reason, it has traditionally been the object of the support of public administrations of different levels. A kind of support usually addressed to the most productive sectors. The existence of companies with high growth rates within the same fashion sector highlighted the need to better understand the strategies followed by these companies. One of the key activities during the project was the visit of The Retail Fashion Academy a unique private-public partnership with investment from the retail industry that offers a wide range of courses focused on retail fashion business.
The project was promoted by the Observatory of Industrial Prospective (Secretary of Industry, Generalitat de Catalunya). It aimed at identifying successful strategies within the fashion textile sector and to focus work with companies following these strategies in Catalonia. A mapping of the companies following a strategy of growth in the sector was carried out together with an analysis to identify the key strategic challenges and elaborating a new action plan according to these new needs.
ACHIEVEMENTS OF THE PROJECT
- The strategic analysis focused on the growth strategy of the fashion textile sector, being a brand recognized by the final consumer based on strategies to reinforce the brand and direct control of the sales channel (opening of own stores). The project made it possible to obtain the first mapping and identification of companies following this strategy in Catalonia, with more than 60 companies with the brand and retail strategy, with an annual growth of more than 10%.
- Through a process of consensus with the identified companies, combining public meetings and work meetings, the strategic challenges and an action plan to address them were identified. Among the improvement actions agreed upon, areas that until now had not been worked by any entity in the sector or the environment, such as professional training for new profiles such as retail management, were highlighted.
- The project had a great impact for the contracting authority. A new vision of the textiles fashion industry was established and new strategic challenges were now visible. Based on this, support programs were redefined by public entities so as to better meed the needs of companies of the sector. The project established the foundations for the future fashion cluster of Catalonia.