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Impact of Globalization on the Fashion Industry
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After the major collapse of the factory in Bangladesh, Major Companies like H&M, KiK and Metro have signed an agreement to better protect the rights of workers and their working conditions in Bangladesh.
What is globalization?
The Present Outcome
According to the Merriam Webster Dictionary, globalization is the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets
Luxury Companies who outsource
Prada, Michael Kors, and Louis Vuitton are just some of the many luxury companies who outsource to foreign countries.
The Fashion Industry
Outsourcing
Home to all the latest trends, and a part of our every day lives. But, what goes on behind the scenes of the Industry?
What exactly is outsourcing?
- To obtain a good or service from an outside or foreign supplier.
Sweat Shops
Behind the Scenes
The large corporations do not list their factory sweat shop workers as a priority.
- low wages
- poor conditions
- bad for the environment
- poorly constructed buildings
These large luxury companies have factories in developing countries, filled with young workers, working for low wages, in terrible working conditions.
Which lead to...
Collapsed factories, high rates of death tolls, low quality of life, and protests.