WASHINGTON — For the fashion and retail worlds, there was good news and bad in President Obama’s State of the Union address.
Within the industry, there was concern about Obama’s proposal to raise the minimum wage, but praise for his commitment to launch a trade deal with the European Union. Placing a strong emphasis on his domestic agenda to spur job growth and help the middle class in his second term, Obama unveiled new initiatives that could have wide-ranging implications for the industry, among them his pledge to raise the federal minimum wage to $9 an hour by the end of 2015 from the current $7.25.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"