The Financial Development of the Greek Apparel Industry during the Crisis

Aristea Brazioti
International Journal of Economics and Business Administration, Volume I, Issue 4, 66-79, 2013
DOI: 10.35808/ijeba/26


The difficult economic situation the country faces and the prolonged economic recession led to further contraction in consumer demand. In this economical reality the average reduction in turnover of clothing industry in many cases exceeds 30%. The competition within the industry will intensify over the next years and as a result the market will retain either large companies with high cash ability of funds and wide sales network, or small and flexible, which target to a specific consumer's market (niche markets).Within this context, many companies of clothing industry proceeded in the closure of their stores in the last year.

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