Operating A Clothes Business In Greece: A Study From The Greek Apparel Market

Greece is situated geographically within the southeastern section of Europe. Whilst it borders Turkey, and is relatively close to the Middle East, its population of more than 11,000,000 individuals consider themselves European. This strategically placed nation is usually a member of NATO, and has traditionally aligned itself with Western interests, preserving political and financial relationships with Turkey along with the Middle East.

Even though the country is at the moment struggling with economic troubles that threaten the wellbeing of its monetary system, Greece has traditionally had a hugely sophisticated and affluent population. As a consequence of a money primarily based economy, under reporting of earnings has been a significant challenge. Current austerity measures accompanied by aggressive tax reforms are expected to salvage the solvency of the government.

Greek citizens have displayed an affinity for American and European brand name clothing, with high end labels including Polo Ralph Lauren, Hugo Boss, and Adidas are especially sought following. The domestic interest for internationally recognized brands is heavily influenced by the clothing worn by entertainment and sport's personalities. Competitors exists with regards to non branded apparel imported from China and made use of clothes, while the brand new-brand name category is supplanting these categories.

The clothing marketplace in Greece is segmented as outlined by regions and age groups. The coastal areas have a robust demand for sport apparel, for example soccer shorts, premium t-shirts, and swimwear. Urban places need dress put on which include dress pants, dress shirts, and elegant put on. The clothes market is often further segmented in accordance with subdivisions based on age and occupation.

Greek retailers also possess the opportunity to sell clothing to vacationers, who frequent its quite a few beaches and historical landmarks. Many tourists from Turkey as well as the Middle East shop in Greece for American and European clothing brands that are otherwise not out there in their residence nations. A clothes shop owner can attract tourists by advertising in publications which might be distributed in hotel lobbies, and by taking out advertisements in airline magazines.

In respect to domestic shoppers, their shopping for energy is among the highest in Europe, with an average salary $30,000. This salary level permits Greek shoppers to appreciate a strong degree of discretionary revenue which might be applied towards apparel purchases. While its population is evenly divided by age, there's a shift within the graph towards young folks, which implies that the chance in serving the youth market place is really substantial. Currently an estimated 15 percent of Greek citizens variety in ages from newborn to teenagers, clearly demonstrating the future demand of this category in the clothing industry.

American organizations planning to enter the Greek marketplace for clothes can make use of the services provided by the Greece Chamber Of Commerce, the Hellenic American Chamber Of Commerce, the Greek-American Chamber Of Commerce, plus the US Commercial Service, which can be positioned at the US Embassy in Athens.

There are various organizations organizations set up to expand trade amongst distinct nations and regions, which include the British Hellenic Chamber Of Commerce and also the Arab Greek Chamber Of Commerce. A foreign organization looking for to operate in Greece should really generally consult with its respective embassy to be properly directed toward the Greek government agencies that regulate the domestic clothes market place.

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