The fashion cycle: the ongoing introduction, rise, peak, decline and obsolescent in popularity of specific styles or shapes.
All styles that come into fashion rotate through the cycle.

Stage 1 - introduction
New styles, colours, textures and fabrics are introduced.
New style may be accepted by small number of people called 'fashion leaders'.
Promotional activities include fashion shows and advertising in high-fashion magazines.
Produced in small quantities at high prices - penetration pricing.
Retail buyers purchase limited numbers to see if the style will be accepted.

Stage 2 - growth/rise
Consumer interest grows and fashion becomes more readily accepted by consumers.
Mass production brings down the price of the fashion - more sales.
Styles are manufactured in less expensive materials and lower quality construction than original.
Promotional efforts are increased in high-fashion magazines to heighten consumer awareness.
Retail buyers order items in quantity.

Stage 3 - maturity/peak
Style is at height of popularity.
Fashion is demanded by almost everyone because it is now within the price range of consumers and is mass produced in many variations.
Each retailer tries to persuade customers that their version of the style is best.

Stage 4 - decline
Market is saturated and popularity decreases.
Fashion is overused and becomes dull and boring.
As the fashion decreases in popularity, retailers mark down their prices.
Promotions centre around major clearance or closeout sales of the fashion.

Stage 5 - obsolescence/rejection of a style
Style is rejected, is undesirable at any price, is no longer worn, and is no longer produced.
Ends as an accepted fashion.

Extension strategy
Can be defined as: a medium to long-term plan for lengthening a product's life cycle. It is likely to be implemented during the maturity or early decline stage.
Extension strategies include:

• Redesigning the product
• Adding an extra feature
• Changing the packaging and advertising to appeal to a new market segment
• Providing a Unique Selling Point (USP)