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.
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @@Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
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@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion