What You Need to Know About Fashion Brands
The fashion industry around the globe may not be the biggest, but it sure is among the most influential ones. It enjoys the limelight in most parts of the world. With the glamor and fame it has, comes sheer power. To shed more light on how glamorous and how influential fashion brands are, here are some sneak peaks into it.
The Absurd Influx of Money
Once you get you know the annual revenue that the fashion industry generates from around the world, you will certainly be astonished. The fashion industry around the globe pitches in a mind-boggling $2.5 trillion annually. To get that into perspective, it is almost 70% of the entire US’s annual budget!
With more people now following contemporary fashion all around the globe, the industry is on an uphill road. Experts have even predicted that with the growing trend that the fashion industry is seeing, the revenue that it generates is bound to double within the coming decade.
The fashion industry connects every single person either directly or indirectly. From fashion photographers to the people who buy clothes at thrift shops, everything has some relation to a certain fashion brand. The only difference between a person who only occasionally buys branded clothing and an avid user is the frequency of purchase.
The Employment Factory
To comprehend the size of the fashion industry around the globe, look at the estimated amount of people that it employees. There are over 60 million people that have directly been employed at the numerous fashion brands throughout the world. In the US alone, four million people work in the fashion industry.
Some places even rely on their fashion exports completely. A perfect example here is that of Haiti. 88% of its exports account for fashion while other places like Sri Lanka, Cambodia, and Bangladesh rank behind Haiti.
Not Everyone Benefits from This Though
While there are good things about the fashion industry, there are also some drawbacks that you should know about. The industry makes a lot, we’ve covered that, but unfortunately, not everyone gets to make the most of it. If you are a model or a designer, only then will you be able to earn a good buck in this industry. Most employed personnel earn a mediocre to a decent amount of money, but nothing close to as much as a lot of people think.
On the other hand, there is no such thing as working hours here. This actually is true as you would have to sit back and get the job done regardless of how long it takes.
Originality is Scarce
Have you ever watched a certain product from a fashion brand and thought about it being so unique? Well, actually, it isn’t. Fashion photographers witness repetitiveness in most brands. With thousands of fashion brands that exist, there is a great probability that someone has already created a design similar or close to what you are calling unique. In fact, some people even go on to state that originality is not scarce, but non-existent.
This is also because most of these brands only imitate what their competitors or the leaders in the industry are doing. Here too, elite fashion brands spend more on their marketing, creating new designs and hiring fashion photographers to portray those designs in the best manner. This makes the work for a designer even more difficult in the modern day, consequently elevating the numbers on their paychecks.
The Bottom Line
It is fair to say that different fashion brands around the world have teamed up to form an industry that boasts sheer power. While there are certain drawbacks that still persist, there is more good than bad.
Leading Future Brands
Now that we know the key aspects of a fashion brand and how they use fashion photographers to showcase their talent, let’s see which businesses are bound to make it to the top in the coming years.
This is one of the most iconic brands that could simply ever exist. Not just because of its designs and top-quality clothing, but also because it has achieved a feat not many competitors have. Ralph Lauren had hit rock bottom a few years ago and did not have many alternatives at its disposal.
It constructed a strategy and got back up nonetheless. Today, this fashion brands enjoy greater fame, more power, and a prolific future. It is deemed as one of the businesses that are likely to rule the industry in the years to come.
Everybody knows Nike. They hire some of the top fashion photographers to portray their apparel in the sportiest of manners. Unlike Ralph Lauren, Nike creates sporting apparel and is known for that. In the past few decades though, the brand has started putting in more investment into women’s sports apparel which has raised its position considerably high among the competitors.
Nike has been serving almost all genres and is considered to be among the most powerful fashion brands around the world in the near future. It already is among the most influential sports brands.
How can someone miss out Forever 21 while talking about fashion? It is certainly one of the best brands that exist out there, especially for the youngsters. Despite the high prices and not-so-fancy designs, the brand makes the most of its fortune via its name. This is mostly due to the demographic that the brand has captured. Taking that into account, and the fact that more and more people are opting for Forever 21, there is a fair chance that it will be among the most powerful fashion brands in the coming five to ten years.
Not Everyone Is Perfect
Sometimes, not even the most contemporary fashion brands aren’t perfect. Giorgio Armani is among the key examples here. It is one of the brands that failed to enter the Haute Couture—Paris’ Governing Fashion Body. A French Chamber of Syndicale that determines if a fashion brand is elite enough to become a part of Haute Couture, rejected Giorgio Armani for not being of that high caliber.
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