| Summary: | 碩士 === 輔仁大學 === 織品服裝學系 === 94 === After Taiwan joined the World Trade Organization, the accompanying reduction in tariffs and the removal of various protective measures greatly altered the way domestic textile and apparel firms operate. Even with the introduction of high-tech ingredients such as nano fiber materials and intelligent fabric made of complex fiber, the textile and apparel industry is still on a migrating trend and gradually moves its manufacturing base overseas. This thesis stuies the business strategies of emerging stars in the global textile and apparel industry such as ZARA in Europe and TOMMY and ESPRIT in U.S. with an aim to find some important benchmarks to inspire those who wish to build their own brand names.
Based on the definition of brand and literature review on brand strategies, this thsis applies a business analysis and valuation methodology for brand performance analysis. Nowadays supply is simply driven by the global logistic demands, which in turn largely depends on brand recognition. Inditex (ZARA) operates with eight brands, while Tommy Hifiger has four brands and ESPRIT has 12 product lines plus the “Red Earth” brand. Our brand performance analysis uses returns on equity, net operating profits after tax, operating assets turnover, returns on operating assets, operating net debt/equity ratio, operating financial leverage, strategic equity investment ratio, and returns on strategic equity investments as major performance indicators.
Business analysis and valuation of conglomerates starts from strategy analysis which investigates how the group’s precious equity is allocated to four major usages: controlling resources, influencing resources, future resources and financial resource. The next step is accounting analysis which utilizes information contained in footnotes of financial reports and other souces to undo accountant distortions such that latter analyses can be based on more reliable information which reflects the economic reality of the group. The final step is financial analysis which evaluates management performance in terms of the group’s goals and strategies. This stage utilizes primarily ratio analysis which attempts to discern any persistent relationship among financial items. Since the object of analysis is a conglomerate, the ability to isolate the performance of core business from other resource usages is crucial for comparison among conglomerates.
In this era of globalization, companies in Taiwan may need to make the transition from Original Equipmentment Manufacturing (OEM) to Own Brand Marketing (OBM) in order to create greater values for their products and services. OBM calls for an indepth analysis of proper brand strategies to enhance product image, design ability and market competitiveness. Through the implementation of ERP and flexible manufacturing systems as well as the newly established cooperate culture of innovation, quality, low cost and just in time, and perhaps by incorporating some unique domestic characteristics, the industry may be able to expand its logistics in response to market demands.
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