First promoted, in 1943, as Press Week, by Eleanor Lambert, the New York Fashion Week was an attempt to position New York as an alternative fashion capital to the dominant Haute Couture in Paris where high-end fashion was a symbol of exclusivity. Only Queens in the 17th Century France had access to custom design and fit, made with hours of detailing and delicate patterns.
With the World War 2 limiting the American audience in Paris, Eleanor found an opportunity to push local designers to the forefront. American designers worked in poor working condition and found it hard to compete with the established French. Eleanor tried hard to bring in International fashion editors to the show, but when all attempts failed, she paid local newspapers to cover the event, paving the way to the Fashion Weeks in February and September. Now, just for the fashion shows and related events, the city attracts over a million visitors annually. The fashion weeks in February and September each year generates over $900 million in total sales, the highest in the US for one event
New York City is the fashion capital of the world hosting 900 fashion houses with an annual sale of $15 billion. The publication industry is another thriving sub-sector of fashion with three major publications – Vogue, Harper’s Bazaar, and Women’s Wear Daily originating from the City. However, the majority of production in the industry is done in China, Vietnam, Bangladesh, Mexico, and Indonesia. The value that the City generates is through research, design, prototyping, branding, marketing, and sales.
Nearly 2 million people in the US work in the Fashion industry with the majority employed (80%) in apparels serving a domestic market size of $385 billion and a world market of $3000 billion. Sales and Marketing professionals take in an average of $84,600 excluding the commissions, helping brands reach the audience through traditional media (TV, Newspaper, Magazines), digital (website, Instagram, Pinterest), stores, celebrity endorsements and events.
Although New York City’s fashion media and per capita income ($63,196) have given the city the ‘Fashion Capital’ title, apart from Foot Locker, rest of the top ten Fashion and Apparel brands originate from other states.
If you want to see whether your profile is ideal for a career in the Fashion Industry post-MBA, subscribe to our Detailed Profile Evaluation Service.
The First New York Fashion Week
Global fashion industry statistics - International apparel
|Ranking||Company||Market Cap (B$)||State|
|7||Foot Locker||9||New York|
2018 MBA Research Guide - Choose your MBA
F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach.
Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?
We cover them all through our extensive analysis.
+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour
Comprehensive MBA Research Guide: Includes Top MBA Programs by 19 Specializations:
+ General Management
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Leadership Development
+ Military &
+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)
Top 31 MBA Programs in United States – Total Cost & Salary (2017)
Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary
Top 20 European MBA Programs (Based on Actual Salary Increase)
Top 20 European MBA Programs (Short-term return on investment)
Top 20 Affordable European MBA Programs
Top 10 MBA in UK – Salary & Fee
Top MBA Destinations Based on Happiness Index
Top MBA Destinations based on Innovation Index
Top 10 MBA Job Markets based on Cost of living and Purchasing Power
Top MBA Destination: By Economy
+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA
MIT vs. Stanford MBA
Haas vs. Ross MBA
Kellogg vs Ross MBA
Booth vs Wharton MBA
MIT Sloan vs Tuck MBA
IMD vs. INSEAD MBA
IIMA vs. ISB
Harvard vs. Stanford MBA
+ MBA in France
Top Industries in France
Top MBA Programs in France