RECENT NEWS
New York Times  Jan 12  Comment 
The rock star gave the fashion industry a lot more than a look (or 12) — he gave it a philosophy.
Forbes  Jan 4  Comment 
Plus-size model Graham landed five magazine covers in the last year plus a bikini ad in the 2015 Sports Illustrated swimsuit issue. “I’ve had success in breaking the mold in the fashion industry,” she says. She credits “my hot body."
Forbes  Jan 1  Comment 
After leaving the fashion industry and returning after 6 years, Edith Taichman, Oscar de la Renta's newly appointed VP of Global Communications, shares her thoughts on fashion's changing landscape.
NPR  Dec 22  Comment 
Fashion models feel pressured to be dangerously thin, and France has passed a law to fine fashion houses for hiring underweight models. Researchers say it's a workplace health issue in the U.S., too.
Forbes  Dec 21  Comment 
Born through frustration at the fashion industry’s stagnant approach to mass-consumption, this start-up is creating bespoke, personalized knitwear, produced on-demand, yet at an industrial scale.
Forbes  Dec 18  Comment 
The fashion industry is considering whether fashion weeks should officially become consumer-facing events in response to the challenge social media has presented. While it's a move that might work for more commercial collections, experts are...
Times Online  Nov 30  Comment 
For ten years Angela Clarke worked as a creative agent in the fashion industry producing shoots and catwalk shows around...
Forbes  Nov 20  Comment 
With excitement surrounding Lucasfilm’s highly anticipated film, Star Wars: The Force Awakens, at an all time high, we can officially say that the force is not only with all of you Star Wars fans, but it is also with the fashion industry. Star...
NPR  Nov 8  Comment 
Resale shops are increasingly present in the retail landscape, especially popular with younger shoppers. One of the most iconic thrift stores in the U.S., Goodwill, is getting into the competition.
New York Times  Oct 29  Comment 
The firing of the designer, following fast on the departures of Raf Simons from Dior and Alexander Wang from Balenciaga, points to a shifting power dynamic at top labels.




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TOP CONTRIBUTORS

Th who are not rich enough to afford luxury brands but will accept lower-priced alternatives.

  • The goal of mainstream brands is mass appeal; they sacrifice an air of exclusivity for popularity.
  • Discount brands cater to low-income consumers.

At the highest levels, the fashion industry is relatively insulated from economic changes. For example, recessionary fears in the United States have done nothing to harm haute couture, which is actually seeing an increase in customers in a time when so many other companies are fighting decreasing sales. The luxury market is doing well compared to mainstream, affordable luxury and discount brands, where its customers have less financial security and thus are not spending as much money on clothes and accessories as they used to.

Trends and Forces in the Fashion Industry

Increasing Focus on Men

Fashion was once seen as almost exclusively a "women's domain." However, in the past few years men as a whole have begun to pay more attention to their appearance[1] and the fashion industry has responded by focusing more on catering to male clientele. For example, J. Crew Group (JCG)[2] and Hermès both opened men’s-only stores in New York City.[3] Although women still do make the majority of clothing purchases, companies are beginning to take advantage of the male demographic and appeal to them in order to increase sales. :)


Image:Affluent_chart1.gif‎[4]

The affordable luxury market, especially in the United States, is facing a problem due to the poor state of the U.S. economy. The middle-class "aspirational" shoppers who are integral to that segment's success are not indulging as much as they used to. In addition, there has been an increase in "extremely high net-worth" individuals in the United States and abroad. In the U.S. alone the number of "ultra high net worth households" increased fivefold from 1996 to 2006, to 1.14 million.[5] These people are able to afford whatever luxury brand they want and the brands that are able to follow the money. These trends lead to decreased sales of affordable luxury and increased sales of genuine luxury products.

New Markets for Consumers of High Fashion are Emerging Worldwide

Now, more than ever, the nouveau riche in China and Russia are developing a big appetite for high fashion. In China for example, the economy grew more than 10% annually during the last five years, and by the end of 2006 the country had 345,000 U.S. dollar millionaires, 33% of whom were women.[6] Chinese citizens are becoming increasingly fixated on luxury goods--they are viewed as a status symbol.[7] China, Russia and the Middle East present large, wealthy markets for luxury goods companies.

Notes

  1. "Death of the Metrosexual: Mens Fashion Goes Large."
  2. "J. Crew to Open First Men’s Store in Tribeca." DNR.com. March 11, 2008.
  3. "Hermes to Open Men's Store." DNR.com. March 28, 2008.
  4. "A Wealth Market in a Downturn Economy: Capturing a lucrative target."
  5. Holiday Forecast Calls for Mild Slowdown in Luxury Sales." RetailTraffic. July 24, 2008.
  6. "Chinese Nouveau Riche Go Gaga Over Haute Couture." The Star. June 1, 2008.
  7. "Chinese Nouveau Riche Go Gaga Over Haute Couture." The Star. June 1, 2008.

Companies in the Fashion Industry (121)

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