In this paper we explore the conceptual terrain of what we term late globalization.We follow a macro-conceptual to a micro-empirical path to explore the effects of late globalization in the context of the emergence and evolution of Danish Textile and Fashion Industry (DTFI). In this context, these interrelated issues are examined: critical events, impediments, pressures and turning points that shaped DTFI; main institutional players that motivated key policy changes in and evolution of DTFI; and effects of late globalization on size, mission, location, knowledge, growth and structure of DTFI. Historical data on DTFI between 1945 and 2015 was collected and analysed employing a number of tools such as causal mapping, critical event matrix and radar charts to display and discuss the following industry variables: size, mission, location, knowledge, growth and structure. While this is just a longitudinal one-country-and-industry case study of late globalization, it already points to a number of key factors that influence the lateness (or earliness) of globalization: government policies toward domestic and foreign players in an industry, global competition that shapes and continually reshapes (cost as well as quality-driven) location of key value chain activities (and the concomitant global distribution of core competencies and skills), and the growing role of information technologies that enable globally-dispersed value chains to function in cohesive and unified ways. Implications for future research are discussed.