A Subsidiary Company in a European Union Country Essay

A Subsidiary Company in a European Union Country - Essay ExampleBut currently, the manufacturing has become multinational with a giant turnover. The clothing industry is among the most competitive and also most profitable ventures. It provides employment opportunities promptly and indirectly to millions of people worldwide.Currently, in the United Kingdom some of the leading clothing companies include Aquascutum, Aston Bourne, capital of Texas Reed, Barbour, Bertie.co.uk, Elvi, Dorothy Perkins, Monsoon, I Love Cashmere, Next, and countless others. The competitive environment in this industry is very high because of the abundant issuing of clothing companies in the market. Clothing companies have various challenges they experience which include increased expenses for direct costs and raw material. When the global economy weakens, it affects the clothing industry majorly because people tend to not bribe new clothes. The effects have been seen whereby some industry players do fall out during these periods. But when the economy strengthens the industry also improves. Rapid fashion and trend changes and changing customer preferences can also pose a significant challenge to the industry.Next, a clothing confederacy in United Kingdom headquarters in England, designs, manufactures and supplies clothing, footwear, and home accessories. It has over 700 stores spread across the globe. Next boasts 200 stores in the Middle East, Europe, and Asia. Other 597 stores be found in Ireland and the United Kingdom. Next was founded in the year 1964. It has approximately 54,507 employees (2013). In the year 2013, the company recorded a profit of 508.6 million.Next plcs business strategies include developing and upgrading Next products, change the companys financial strength by promoting secure financing structure and increasing the number of online sales globally.