Substitution: There is no viable substitution for clothing so the industry has no threat from substitution. Across all
companies in the industry there is always a threat of substitution between companies with multiple offers of similar products
from multiple retailers.
Supplier Power: The suppliers have no real power within the industry as they are easily swapped out and retailers
commonly source from hundreds of suppliers at a time and can easily cut one off if needed. Globalization of the supplier
market has further reduced the power of suppliers as the market is more open to lower cost suppliers around the globe.
New Market Entrants: New entrants can have some impact on the industry as the barriers to entry are low, but the risk is
high for them unless they can differentiate their offering to be unique or they will struggle with the existing saturation of
