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Background Internationalization is a rapidly increasing trend of firms and markets in today’s business environment where fashion companies have evolved to be one of the most successful and dynamic international retailers. Though a majority of SMEs in the retail fashion industry have the potential to become international, many never do due to a number of barriers. When making decisions regarding international strategies, it is important for companies to analyze and understand the foreign market to determine if there is an opportunity for success on the market. However, many SMEs fail to do a thorough market analysis prior to internationalizing and never reach their full potential on the market. Purpose The purpose of this thesis is, through a market analysis, to determine if Sweden is a suitable market for a Canadian SME in the men’s retail fashion industry. Method A qualitative study was carried out to help determine the purpose of the paper where data was collected through a single case study of the company Phresh Image. Primary research was conducted through interviews with the CEO of Phresh Image as well as focus group meetings to collect data regarding the company and the potential customers. The interviews were structured after the theoretical framework and included participants described by Phresh’s target group. Secondary data was collected regarding Sweden and the Swedish retail industry and used to compare the domestic market to the foreign market. Conclusion By answering the research questions, the thesis found that Sweden is a suitable market for a Canadian SME in the men’s retail fashion industry. Branding, quality design were among the most influential characteristics for Swedish consumers and retail companies in the fashion industry must take these into consideration when internationalizing to Sweden. Canada’s and Sweden’s economic, political and cultural environments proved to be rather similar though some adaptation of a company’s marketing mix may be required. In addition, exporting was shown to be the most suitable way for retails to enter into Sweden providing limited barriers and low risk. |
