People love to get dressed up. Some keep it simple, wearing the latest Ralph Lauren top that they purchased from a local retailer. Others go all out, sporting luxury timepieces such as an oystersteel Rolex Oyster or a rose gold Patek Philippe. The money spent in the fashion industry has amounted to trillions of dollars over the years.
For potential financiers, this can be a lucrative field to invest in. We’ll dig a little bit more into fashion investing.
Fashion Industry in Brief
Fashion is an especially important part of many people’s lives. Whether it’s rocking the latest Rolex from WatchBox or the finest threads from a popular fashion show, we all like to look our best with the latest fashion choices. The fashion industry sets the benchmark for the latest clothing and accessory trends. Some people set their timepieces to when the fashion trend announcements of the year drop. Brand names such as Ralph Lauren and Oscar De La Renta can be found in many displays at retail outlets such as Bergdorf Goodman. As a result of such a high interest amongst shoppers, the fashion industry can be a lucrative industry to invest in.
At its core, fashion is a form of self-expression and autonomy. This creative outlet allows fashion designers to speak to what people are currently looking for when it comes to clothing and apparel. This might include creating timepieces, or fashion designs that speak to a certain moment in time or a trend. For example, a particular style of clothing might become popular amongst high school students after they see a celebrity wearing the same brand of clothing. After this, you’ll have some designers such as Ralph Lauren doing their best to feed the new need for this item. On the other hand, fashion designers might create a particular form of clothing, footwear, or accessories for the sake of their own self-expression. Sometimes this includes the clothing or apparel that you’ll see at a fashion show or celebrity trunk show.
The fashion industry brings in a lot of money. In 2021, the global apparel market is estimated to reach $635.17 billion. Womenswear alone globally accounts for about $876,710 million. In 2019, it was estimated that global retail sales of apparel such as Rolex oyster timepieces and footwear reached $1.9 trillion dollars. You don’t need to have a graduate degree from colleges such as the University of Houston or University of California to realize that investing in this field can reap financial benefits for you.
New Talent & Passion
Investing in the fashion industry is a route that many entrepreneurs have followed. As in the case of esteemed entrepreneur Courtney Sarofim, potential investors have realized the continuing growth potential of the industry. The creative choices of fashion designers such as Adam Lippes, paired with customers’ hunger for new fashion, make investing in the fashion industry potentially lucrative. When deciding to invest in the fashion industry, there are a few tips you should follow.
First, you’ll want to seek out new fashion designers. Look at fashion meccas such as New York City or Los Angeles for new talent. Seek out those up-and-coming fashion designers who have fresh ideas but no capital to get those ideas out in front of people. Maybe head to a couple of trunk shows or fashion shows to find those creative minds who will create the next popular fashion trends. Secondly, follow your passion. Since you’re going to be investing your money and time into this new venture, find a part of fashion that keeps you motivated. Don’t just hitch your wagon to the latest Ralph Lauren knockoff. Find something to invest in that will make you happy.
Verify Everything
Lastly, do your homework. Take a couple of months to see if investing in the fashion industry is for you. Check on industry trends, what works, and what doesn’t. You don’t want to invest a lot of money and time into something that should be passed up.