Fashion is the art of dressing in clothes that make you look and feel your best while expressing your taste. The fashion industry is a global business that includes the production of clothing, shoes, jewelry, and other accessories.
The evolution of fashion is a response to cultural changes, and it also serves as a means for designers and consumers to express creativity. However, the tendency for fashion trends to promote materialistic consumerism can be detrimental to society as well.
A person’s fashion is influenced by their social status, personality, and occupation. For example, if a high-social-status person chooses to wear certain types of clothes and hairstyles, others might follow suit in an effort to achieve similar status.
Many celebrities, including musicians and political figures, influence fashion trends as well. People who admire these people usually seek out the latest styles and try to imitate them in their own lives.
Fashions vary widely across societies, and they often accentuate a person’s features or accent certain qualities. For example, a woman who has high cheekbones may choose to wear a pair of tall chopines.
The fashion industry is a highly competitive environment, and companies face pressure to increase their bottom lines as the economic outlook gets bleaker and uncertainty worsens. As our first The State of Fashion report (PDF-8MB) outlines, executives across geographies and price points are now expressing pessimism and revising forecasts downward.
To address the challenges, the industry must unlock growth and align with changing customer needs. It must shift its focus to digital innovation and sustainability, and it must better manage the supply chain. It should also rethink how it allocates talent, promotes its leaders, and establishes its executive teams.