Industry Reports:1 - Designer Clothing (Ready-to-Wear) in AustraliaSizeThe designer clothing market is quite large and is expected to grow over the years due of people's perception of luxury clothing as high value. In 2008 the market size in millions was approximately $1,673.0 compared to 2013 where it had increased to $2,063.2 as shown in the chart. By 2018, the market is expected to reach $2,411.1 million. (Euromonitor International, 2014a) According to Euromonitor International (2014a), the leading brands in terms of brand shares (2012) are:• Ralph Lauren in first place with 7.5% of brand shares• Then Berlei (Company: Pacific Brands Ltd) with 5.2%• Donna Karan (Company: Moet Hennessy Louis Vuitton SA) with 2.4%• Followed by Prada and Burberry at 2.2%• Other brands such as Calvin Klein at 1.6 % and Gucci at 1.1%The Competitive EnvironmentThe designer clothing market is extremely competitive and as a result companies are becoming more strategic in their marketing approach to compete with other brands. For example, companies have considered collaborating with other designer brands to produce affordable luxury styles, such as Sass & Bide who partnered with Havaiana and together created a limited edition of flip flops. Furthermore, there is a lot of competition when it comes to price harmonization, as local retailers face consumer pressure due to differences in international prices. Therefore, it is evident that the designer clothing market is competitive and companies must take action to compete and succeed. (Euromonitor International, 2014a)TrendsAccording to Euromonitor International (2014a) there are various trends in the designer clothing market... middle of paper... countries that have successfully resisted recession during the global financial crisis. The strength of the local economy has consequently positioned the Australian market as an attractive source for international operators. Weaknesses • Luxury brands and retailers in the Australian market must always be “in step with changing consumer tastes”. The Internet exerts a great influence on this change in tastes, as consumers are expected to evolve as a direct result of exposure to the Internet. • Premiumization: This is a business trend that is not expected to go away anytime soon. However, theorists now suggest that “there is only so much premiumization that can occur before products become unaffordable,” stipulating that luxury brands must be aware of how much their target market is willing to give up before to believe that the cost is higher than perceived cost. benefit.