Corporate Power Global Trend to the Fashion Industry in Ethiopia Assignment

Corporate Power Global Trend to the Fashion Industry in Ethiopia - Assignment Example The fashion industry in Ethiopia is growing since it has received significant amounts of corporate investments. The investors, suppliers, and large corporations have been entering the country to take advantage of low costs of productions in terms of land and labor. The large tracts of land are also fertile for the growth of cotton. The stable government encourages investments. Additionally, Ethiopia has a young population that is trainable. However, the textile industry faces some drawbacks such as transport logistics, corporate scandals, and misuse of land and labor laws. The corporate power would continue to influence the fashion industry positively in Ethiopia if companies continued to take advantage of the country’s favorable factors and co-operated to eliminate drawbacks. The textile industry in Ethiopia has come from far and has a potential of soaring to greater heights if the current corporate investments persist. Ethiopia is in Sub-Saharan Africa, a region that experiences a nascent growth in the textile industry compared to the Northern parts of Africa. According to Fassil Tadesse, Kebire Enterprises Chief Executive Officer, Ethiopia textile tradition can be traced back a long way but its development had begun taking roots just a few years ago. A critical analysis shows that Ethiopian textile industry forms part of a wider pattern of the global trade movement. It moved to Japan after beginning in the United States. It advanced to South Korea before crawling to China (Mousavi). The soaring cost of conducting business in China over the last few years has made investors shift to Africa due to low costs in the region. Speaking to the Economist Intelligence Unit, Fossil said fashion development emanates mainly from Turkey, India, China, South Korea, an d Bangladesh.