Global Financial Crisis does impact on the Fashion Design Industry in Australia. Because of the products made, material fee, and higher payment for employee as well. Just compare Australia with China, even though there is not much of high edge fashion happening in China, but they can easy to hire large amount of employee with just really low payment. And the fabrics or materials just can get them with extremely low price in China too. Also, because Australia is a under population country, there fore we can’t produce large amount of garments in high fashion brand. The reason of been a high fashion brand is less producing and higher quality, and the less they produce, the higher they have to pay. People are not just buying the garment of product, are more like ‘buying’ the label. Speaking of material cause we cost higher shipping fee, so the fabrics we buy for local are much more expensive than in any others developing countries even we shipping them oversea. And since the GFC, designer will try to cut out the budge as much as they can, to save for promoting fee, employee payment etc. there fore, Global Financial Crisis does impact on the Fashion Design Industry in Australia.

‘Innovate’ means bringing new elements, create new things, and ‘perish’ means die, no longer exist. As the environmental and Global Financial changing in the world as everyday. I think that the ‘innovate or perish’ can be interpreted in the Fashion Design business today is, Global Financial Crisis killed brands or almost killed, it makes the new designers learning the better way to manage time and budges things. Even though it has lots of negative effects but we should see it in the bright side. For example, in the old days we use to screen print every things, but now as the technology getting higher and higher, we bringing the digital print to save a lots of human productivity and less wasting the ink and more perfect and professional to done the print design on CAD. So we should keep learning from the past but also adapting from the best, to innovate. That is a better way to grow a brand. There fore, ‘innovate or perish’ are actually a positive interpreted in the Fashion Design business today.

The potential growth areas forecast in the changing economic climate are, firstly, producing large amount of product in developing countries, and that will cost small amount of the budge instead of wasting them. Secondly, is online selling products, for examples, official website page or famous blogger, or even iPhone apps. Because of these days computer almost replace everything in our daily life. So Internet is a really good way to advertising. And we can just shop online without considering the weathers.