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.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews