Fashion Industry: A multibillion-dollar global enterprise devoted to the business of making and selling clothes. [http://global.britannica.com/]
Some say fashion is fickle, while others like New York writer Christina Grasso, believe that “there's no escaping it unless you take a cue from Adam and Eve and forgo clothing forever.”
In conjunction with this week’s Fashion Festival Bali 2014, here are the answers to some of your fashion-related questions:
Fashion - So what’s all the fuss about?
Like it or not, fashion is a business and for countries like the UK, the fashion industry worth £26 billion to its economy. According to the New York City Economic Development Corporation, Fashion Week generates an estimated $532 million in direct visitor spending annually, which translates to $865 million in total economic impact.
Yep.
How does Fashion Week and fashion-related events play a role in this significant industry?
While fashion events in a particular destination city help drive sales for the local businesses, they also play a significant role in elevating retailers and brands in the eye of the consumers. “When we started doing runway shows, it raised our company’s profile dramatically,” said designer Nanette Lepore. “After the first few seasons on the runway, sales jumped 20% a year.”
Who attends fashion shows?
The most important people at fashion shows are the Editors of influential magazines/media, the Designers and the buyers/retailers. Fashion shows are generally not open to the public, and fashion week is not a public event.
“At the shows, retailers see the designers’ creative vision. They get ideas on how the collection should hang in the store, how it should be merchandised, what the window displays might be and if it should be featured in a catalog or an ad.” -Fern Mallis, senior vice president of IMG Fashion
Do designers pay for their own fashion show?
In most cases, yes.