It’s an iconic look.
Fashion is a cultural and social movement, and it’s about to change.
With fashion’s first generation of millennials starting to hit their teens, it’s a time when the industry is in transition, says Anna Hwang, founder of Fashion Designers Network.
The future is here, and we are seeing it right now.
In 2020, women will make up nearly half of all fashion designers.
It’s a demographic that is growing at the fastest pace in history, Hwang says.
The millennial generation is more affluent, and they’re the ones who are embracing new trends and emerging fashion styles, she says.
They are more likely to go shopping and to travel, she adds.
A decade ago, there were only three designers on the roster.
Today, there are more than 40.
This is a time of change, and this generation is the future of fashion, says Jennifer Meehan, founder and CEO of Aesthetic Magazine.
For a lot of young women, this is their moment.
This will be the time of their fashion career.
Meeham says there are so many styles in the market today that women are buying into, from everything from traditional to hip to bold.
They’re buying clothes from designers they like, and designers who they respect.
A lot of the time, young women are spending more time shopping for themselves and less time shopping around the world.
In 2019, the top 20 brands in the United States spent more than $1 billion on marketing and promotion, according to a report from the research firm Kantar Media.
The biggest brands in 2019 included Calvin Klein, Christian Dior, Alexander Wang, Chanel, Tommy Hilfiger and Calvin Klein.
A few brands from the last decade, like Nike and Burberry, are now part of the elite.
But there’s also an influx of new brands from abroad.
These include brands like L’Oréal, Gisele Bundchen and Estée Lauder.
The shift toward younger women is also evident in the clothing industry, says Meeam.
Brands like Levi’s, Christian Louboutin and Ralph Lauren are starting to move away from the “old” style.
While brands like Tommy Hil and Ralph have continued to be about the look, brands like Calvin Klein and Burberries are moving towards more contemporary styles and design, Mee-han says.