Apparel and beauty firms are eager to find new global markets with burgeoning fashionistas, especially in the all-important Far East. With Japan’s economy recovering slowly, the hunt is on for the next big...
Apparel and beauty firms are eager to find new global markets with burgeoning fashionistas, especially in the all-important Far East. With Japan’s economy recovering slowly, the hunt is on for the next big spenders. No one in the region matches Japan’s per capita spending of $24,900 in 2000, but there may be other opportunities. Meanwhile, growth in the developed West remains modest.
The 10 advanced countries with the fastest growing economies(Measured in percentage increase of gross domestic product or GDP)
Ireland’s economic growth has consistently been among the highest of the Organization for Economic Cooperation and Development countries. Credit the favorable demographics and young population. Per capita spending in 2000: $21,600.
Before Greece dumped the drachma for the euro, the country was plagued by high inflation. The new currency forced the government to balance the budget and slash the deficit. Per capita spending in 2000: $17,200.
Luxembourg has a stable, high-income economy and an industrial sector dominated by steel. The country is one of the most successful in the world at attracting foreign investors. Per capita spending in 2000: $36,400
Since 1996, the year pro-business President Jose Maria Aznar came into office, Spain’s economy has grown faster than that of any large EU nation and consumer spending increased. Per capita purchasing power in 2000: $18,000.
Australia’s economy emerged virtually unscathed from the crisis that engulfed the Asia-Pacific region in the late Nineties. Deregulation spurred productivity and growth without igniting inflation. Per capita spending in 2000: $23,200
The country’s heavy dependence on trade leaves it vulnerable to economic conditions in other parts of the world, so the government is trying to improve ties with large market countries like the U.S. Per capita purchasing power in 2000: $17,700.
There was strong consumer spending in the first three quarters of 2001, but that confidence began to wane in the fourth quarter. The French aren’t ready to give up their croissants and couture yet, however. Per capita spending in 2000: $24,400.
Fiat’s troubles are Italy’s troubles. The ailing car manufacturer dominates Italy’s economy, accounting for 5 percent of the gross domestic product and 25 percent of sector workers. Per capita spending in 2000: $22,100.
Every fashion company dreams of tapping the market in China — the world’s fourth-largest trading power. Shanghai has 17 million trend-conscious and affluent consumers. Per capita spending in 2000: $12,000.
The former Communist country has embraced a market-based consumer-driven economy. Consumers are hooked on a localized version of "Wheel of Fortune" and city-dwellers carry cell phones.Per capita spending in 2000: $1,900.
Myanmar’s long-term economic prospects are good due to the country’s broad range of natural resources. Problems include political instability with charges of sweatshop labor. Per capita spending in 2000: $1,500.
Economic growth in Indonesia is fueled by the expansion of agricultural output and healthy domestic spending.Luxury boutiques and fancy new cars in Jakarta attest to the strong consumer demand. Per capita spending in 2000: $2,900.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
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For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)