The main reasons why some companies fail in the apparel and footwear industry includes relying on a single product line, market segment, or sales channel. In order to survive, companies must constantly come up with new designs, new product line extensions, or even new product lines. These products may be developed either internally or externally through acquiring other companies and/or licensing agreements. An advantage of acquisitions include eliminating competitors and at the same time increasing product lines and market share. Acquisitions may be the only route to sales growth in mature industries like the apparel and.
