background preloader

The fashion business

The fashion business
Image copyright AFP We know that clothing is big business, but it may be surprising just how big. The fashion industry's contribution to the British economy is an estimated £26bn - that's twice the size of the car industry's and nearly as big as the contribution from housing, according to the British Fashion Council. It is not just dresses and handbags, but also design and manufacturing that make the sector the largest part of the so-called creative industries, which include marketing, etc. It's an important part of the services sector that makes up around four-fifths of the economy. I wrote then that it was a tougher sector to picture than say manufacturing cars which is tangible. But a couple of times a year during London Fashion Week, it is visible as models wear dresses that embody design as they sashay down the catwalk. In the five days of London Fashion Week, about £100m of orders are placed for that season. It's also an industry that has taken to social media to reach that market. Related:  To read in spare time

COACHELLA 2014 PERFORMANCES: Pharrell Brings Out Diddy, Snoop Dogg & Gwen Stafani + Nas Brings Out Jay Z For “Dead Presidents” + Kid Cudi Performs In Red Crop Top | The Young, Black, and Fabulous Coachella fans experienced an epic night of performances after Pharrell, Nas, Jay Z, Diddy, Nelly and Kid Cudi took the stage last night. Check last night's pics and videos of their performances when you go inside... Skateboard P definitely stole the show--despite pretty much losing his voice thanks to the sandstorm--with his surprise guest appearances from the many celebs he’s worked with. P and “that hat” performed many of his solo hits and then he started pulling surprise guest appearances from out of his magic hat. He also had a celeb filled audience of 100,000 Festival goers....with Jay Z, Beyonce, Tyler the Creator, Amber Rose and others watching the show. Nelly hopped on stage with P to perform “Hot In Herre,” then Diddy and Busta Rhymes took the stage with P to perform “Pass The Courvoisier.” Soon after, fans were surprised with a cameo from Snoop Dogg (or Snoop Lion as he’s calling himself these days) for a performance of “Drop It Like It’s Hot” & “Beautiful”. Hey Amber!

Women's Clothing Industry Market Research & Statistics Global Women’s Clothing Industry The global women’s clothing industry is expected to exceed $621 billion in 2014, marking a 12% increase in five years, reports MarketLine. Clothing retailers account for the largest share of the market at almost 65% in terms of value. The EU represents more than 35% of the global market, which encompasses formalwear, essentials, active wear, outerwear and casual wear. Major drivers of the world womenswear market include fashion, with shoppers eager to keep up with the latest trends, consumer confidence and rising income levels. As consumers made less purchases during the economic recession, retailers currently find themselves with a product surplus. Regional Markets The US womenswear industry was severely affected by the housing and economic crisis. Key Market Segments The world bridal wear industry is expected to reach almost $57 billion by 2015, according to Global Industry Analysts. Market Outlook Leading Industry Associations More »

How fashion is shaping the UK economy | Summit London celebrated its 61st Fashion Week this year London celebrated its 61st Fashion Week (LFW) last February, a highlight of the international fashion and retail calendar which turned global attention to the UK. No longer known as the ‘little sister’ of the big four fashion capitals, London is firmly on the map. It is now seen as the hottest and most exciting capital, creating and nurturing successful global fashion brands. As Changemakers in Retail, it is critical that we are up to speed on the trends, consumer insights and innovation & technology in the fashion industry. Armed with this knowledge we can speak to our clients on equal terms, with a true understanding of the challenges and opportunities they face. This season we were lucky enough to attend some of the shows, and were certainly not let down by the creativity and pride that shone through from our British designers.

Lupita Is Gorgeous And White America Is Stunned Watching the Academy Award’s Red Carpet coverage last weekend was tough -- largely because of how painful it was to watch in particular Kelly Osbourne and Guiliana Rancic on the E! Network squeal and moan at the mere sight of Hollywood’s new “It” girl, Lupita Nyong’o. “Nairobi Blue! Amaaaaaaazing!” Osbourne whinnied, pushing the already inflated Lupita worship to new levels of hyperbole. As someone who has been navigating seas of whiteness since age 10, when I entered private school and was one of three black girls in a class of 50, I’m well poised to notice the changes in tone and pitch when white people issue praise regarding a black celebrity’s physical features. By 15, I had already started to recognize how the voices of white mothers would raise an extra octave higher when they saw me dressed up for homecoming. It’s exactly what I see and hear in the hysterical fanaticism over Lupita’s beauty, suggesting her looks utterly defy expectations.

Is American Apparel A Dead Brand Walking? “We believe that we may not have sufficient liquidity necessary to sustain operations for the next twelve months,” read a release from American Apparel, connected to a regulatory filing triggered by its inability to meet a scheduled debt payment to one of its major creditors Monday. “These factors, among others, raise substantial doubt that we may be able to continue as a going concern.” Translation: American Apparel may have just months to live. Now, this is far from the first time the once-inescapable hipster basics brand has missed a payment, declared serious losses, or indicated how close it is to complete insolvency—but it is the worst economic report Dov Charney’s Lycra-infused brainchild has ever given. And with good reason. The company has lost 87% of its stock value in 2015 alone and, as a report from Fortune suggests, it lacks both the cash and the borrowing power to make its next credit payment scheduled for October. Okay! (Via Fortune) And with good reason. Okay! (Via Fortune)

Global fashion industry statistics - International apparel Total trade of clothing and textiles: 726 billion dollars The most traded apparel and textile products are non-knit women’s suits, knit sweaters, knit T-shirts and non-knit men’s suits. Non-knit women’s suits: 54.6 billion dollars, 7.5 percent Knit sweaters: 52.8 billion dollars, 7.3 percent Non-knit men’s suits: 43.4 billion dollars, 6 percent Knit T-shirts: 36.9 billion dollars, 5.1 percent Knit Women’s suits: Knit women’s suits: 28.2 billion dollars, 3.9 percent Light rubberized knitted fabric: 23.9 billion dollars, 3.3 percent Synthetic filament yarn woven fabric: 20.9 billion dollars, 2.9 percent Raw cotton: 18.9 billion dollars, 2.6 percent Non-retail synthetic yarn: 18.8 billion dollars, 2.6 percent China is the largest exporter of apparel in the world, it has exported for 265 billion dollars in 2014. Total trade of footwear and headwear: 139 billion dollar Over 40 percent of all traded footwear are leather footwear.

Daily Worth- Habits Of High Net-Worth Women Illustrated by Ammiel Mendoza. Keep Your Eye on the Prize As a financial advisor, I have occasionally found myself feeling envious of certain clients. Not because of their wealth — but because they were disciplined and determined enough to do all the right things that enabled them to accumulate their wealth and, in many cases, retire early. Despite my expertise, I, like a lot of people, sometimes struggle not to do the wrong things that make being rich, let alone retiring at all, a pipe dream. Financially responsible and successful people don’t build their wealth by accident — or overnight. Becoming rich takes serious willpower and long-term vision. Start Early As the old saying goes: The early bird catches the worm — or, in this case, gets to retire in style. Think about this: If you invested $10,000 and left it to grow for 40 years, assuming an average return per year of 8 percent, you would end up with over $217,000. RELATED: 7 Financial Red Flags You Need To Know About

Economy Of Fashion: How Different Trends Reflect The Financial State It's common knowledge fashion is cyclical in nature. The concept of “newness” in fashion doesn't refer to the premiere of a trend, but rather its revival. Why fashion cycles in this manner, however, is less obvious. One one of the most surprising factors to influence the cycle of fashion, though, is the state of the global economy. If you think about it, it makes sense. During tougher times, if you need new clothes, the focus is less on passing fads and more on classic, quality pieces worth the expenditure because they’ll last (which also aids in cutting down cost per wear). As FIT professor John Mincarelli tells ABC News, “In rough economic times, people shop for replacement clothes,” adding “basics” prevail during an economic downturn. Economist George Taylor was the first to notice the correlation between fashion and the economy; he developed the “Hemline Theory” to describe his findings. Pinterest Once the market crashed, longer skirts became de rigueur. We Heart It How? We Heart It

What You Can Learn From the New Look of Ecommerce The Line’s magazine inspired eCommerce As trends happen in any and all industries, it of course makes sense that they pertain to website design as well. I’ve noticed a recent shift toward an amalgam of popular forms of social media, apps, and blog layouts informing the way we now read, take in visuals and shop a bevy of websites, with a far-flung reach of this style being applied across the board from high to mass fashion. This new popularity of design can be described as a mash-up of simplified tabs, pages, scrolling, white background, and personal imagery features found in many blogs, alongside the layouts of Pinterest and Instagram. For some prime site examples that do a nice job of crossing over the various media platforms into their selling formats are The Line, My Theresa, Net-a-Porter, Luisa via Roma, Forever 21, and Topshop. Here’s a few ways that we as the blogging community can think about it, and react: Remember That All Things Eventually Fade Away

Economic contribution The direct value of the UK fashion industry to the UK economy is estimated at £26bn, up from £21bn in 2009, according to data from Oxford Economics, the consultancy, published by the British Fashion Council. This represents an increase of 22 per cent in nominal terms between 2009 and 2014. If the indirect support for supply chain industries and the induced spending of employees' wages are added in, the total contribution from the UK fashion industry is £46bn.Oxford Economics estimates that fashion’s wider contribution to the UK economy in influencing spending in other industries has risen from £37bn in 2009 to over £46bn in 2014 - a 23 per cent increase.The UK fashion industry is estimated to support 797,000 jobs (down from 816,000 in 2009 which reflects an increase in productivity in the sector). Fashion is the largest employer of all the UK's creative industries. Source: The British Fashion Industry and London Fashion Week Facts & Figures, BFC, Feb 2016. Economic Value

Related: