The fashion industry is one of the most competitive industries in business today. Karen Young’s blog post outlines that not only does fashion change constantly day by day, but competition is always increasing as well.
Joe Fresh, a fashion brand that was initially aimed for Loblaw Companies Limited, has recently gone international by expanding to New York. Joe Fresh has done well in Canada; it attracts consumers who look for stylish yet affordable attire. Its products are simple, which fit today’s demand in the fashion industry.
Despite its success at home, will the brand succeed in one of the world’s most fashionable cities? Many retailers like H&M, Uniqlo, and Zara also target New Yorkers. These retailers offer inexpensive and trendy fashion pieces, which creates very stiff competition for Joe Fresh. Besides that, the costs to continue a business in the Big Apple are not small. This would not apply, however, if Joe Fresh is able to make more than enough revenue to cover the costs.
Although it may be risky for the company to open up stores in New York, it does not mean it should not do it. Perhaps it is a good way to represent Canada as well as prove to everyone that Canadians have great style.