Export Final Project - Malaysian fashion retailer wishing to expand Term Paper

Export Final Project - Malaysian fashion retailer wishing to expand its business into the African Market - Term Paper Example 2). This being the case, it is important to take note of the fact that the main clothing brans in the market include Adidas, Gucci, Calvin Klein, and Nike, which have swept the fashion industry in the East Asian region, particularly in Malaysia (Appelbaum 69). Due to the growing competition for the clothing brands and the emergence of new global business opportunities, the Malaysian apparel industries is working closely with a number of global business partners in order to identify the most lucrative geographical and economic environment for its clothing brands. Identifying the Global Business Opportunities (Product / Service and Market) As one of the rising stars of the East Asian region, Malaysia prides itself as being one of the business hubs that deal with various industrial goods (Appelbaum 70). Since the discovery of oil in Malaysia, business has never been the same again especially considering the fact that the Islamic nation preserves culture while at the same time engaging t he global business world in its unique sense of business ingenuity (Khadmudin para. 2). Indeed, the success of Malaysia is because of the democratization of the business space as to involve both international and local brands. Owing to this level playground, several clothing brands have chipped in in the nation to the extent of expanding the trade to the neighboring countries (Crinis 72). Perhaps it is crucial to mention that the primary goods and agriculture drove the Malaysian economy in the 1960s, a strategy that took a sharp turn since the discovery of oil drove the Malaysian economy (Rasiah 539). Currently, the major booster to the Malaysian economy is the exports market that account for over 50% of her total revenues (Appelbaum 79). Over the last decades, the Malaysian economy has tripled with the global trade growing to the tune of US$41.58 billion, mostly due to the growth in the apparel industry that the Malaysian government embraced fully (Khadmudin para. 3). To this exten t, the global economic raking places the East Asian nation at the seventeenth position due to its robust global trade in the fashion industry. The industry of textile and apparel is certainly one with a long history as far as revolution is concerned, despite its remarkable growth in the past half century (Crinis 72). While the textile industry was existent in the 1950s, the Malaysian government had not taken it seriously since the world was not so much into fashion the way it is the case today. This being the case, Malaysia highly discouraged any imports in order to promote local talent particularly in the textile industry (Khadmudin para. 4). With both spinning and weaving of the textiles present in southern and northern parts of the country respectively, Malaysian is strategically placed to serve the international market with its unique sense of fashion (Crinis 67). Since the raw materials for the development of the textile and apparent industry are locally available, the East Asi an nation is guaranteed of a continuous supply of the raw materials, which ultimately leads to enormous volumes of garments available for export. With ready market for the textiles in Hong Kong, Singapore, and Taiwan, the fashion industry in the Malaysian peninsula continues to grow at unprecedented levels (Khadmudin para. 2). The continued growth coupled with heightened