Who doesn’t love fashion? We all love to go online and look at the latest, hottest fashion trends. It may be on Instagram, YouTube, Vogue, GQ, and many other platforms. They all help us make the best decisions when we go out shopping for apparel.
How much is the fashion industry worth?
We also follow various fashion icons to keep us both entertained and amazed at their beautiful designs. Fashion just hits differently and that is why it is an industry that is worth more than $1 trillion globally. According to Statista, the global apparel market was projected to grow in value from 1.5 trillion U.S. dollars in 2020 to about 2.25 trillion dollars by 2025. This shows that the demand for clothing and shoes is on the rise across the world.
The effects of the pandemic
However, when the global pandemic hit things took a dramatic downturn. In March, countries started enforcing lockdowns and there were massive layoffs. Since people had less disposable income, demand for apparel dropped dramatically.
As a result, the fashion industry took a strong hit and the numbers dropped. Internationally renowned consulting firm McKinsey released a report this year highlighting the drop. The report titled “The state of fashion 2021” reveals that the fashion industry registered record-low profits.
Compared to 2019, the profit dropped by 93%.
There is a silver lining
It is not all doom and gloom. McKinsey observes that growth may happen in 2021 though slowly. Even though subdued tourist numbers will keep taking a toll, the digital platforms are expected to soar.
“Where there is positive momentum, the primary driver will continue to be digital channels, reflecting the trend established before the COVID-19 crisis and the reluctance of people in many countries to gather in crowded environments.”
Around the globe, we expect more than 20 percent annual digital growth in 2021 (with 30 percent in Europe and the United States) compared with 2020.
The importance of influencers
Fashion influencers could not be more vital at this point in time. They will help the industry pick up and start experiencing positive projections.
These influencers will provoke more consumers to take up online shopping and shipping. Therefore, the apparel markets are keen to work with influencers who have an engaged following to drive sales growth.
How fashion blogging started
At the beginning of the 21st century fashion blogs started cropping out from personal diaries kept by fashion lovers. They then evolved into sophisticated marketing and economic tools. The advent of social media platforms such as YouTube, Instagram, Facebook, and Twitter saw the explosion of fashion influencer marketing.
This is because the influencers had access to a wider reach. Personally, I only knew of GQ as the fashion bible but now fashion influencers have enlarged my fashion horizon.
Influencers you should follow
There are notable fashion icons, influencers, and ambassadors that you should observe and follow. They have been consistent in the industry and have very innovative ideas. Their professionalism and quality have earned them respectable brand names and followers.
1. Chiara Ferragni
Chiara has been a style icon for the past 10 years. She has worked with some of the most prestigious fashion houses. Some of the fashion houses she has worked with are Moet Hennessy Louis Vuitton (LVMH), Chanel, Dior, and Giambattista Valli.
She boasts of a followership portfolio of 22.6 million followers on IG. In 2010 she founded the Blonde Salad fashion blog which has now grown into a global retail business according to Financial Times. 3 years later she launched her clothing line called the Chiara Ferragni Collection.
It started as a footwear line which has since grown to clothing accessories and children’s wear.
2. Camila Coelho
Camila is a well-respected Los Angeles-based Brazilian fashion influencer. She has more than 8.8 million followers on Instagram. The 32-year-old has worked with a host of famous names in the fashion world.
Her profile has earned her front-row seats at top fashion shows such as Christian Dior, Oscar de la Renta, Tom Ford, Marc Jacobs, Celine, and Chloe. Coelho has also appeared in the highly venerated MET Gala and Cannes Film Festival.
This relentless model started off working at the Dior counter. She would upload detailed makeup tutorials on YouTube on her favorite beauty looks. The intention was to stay in touch with her family in Brazil.
Gradually, her social following spiked to more than 15 million followers. In no time she was known as one of the world’s top digital personalities according to Forbes.
The influencer partnered with world-renowned Revolve to launch her namesake company, Camila Coelho Collection. She heads the company as its CEO. Last year, at the height of the Corona pandemic, she launched her beauty brand Elaluz. Elaluz meaning “she is light” is a lifestyle brand that encompasses skincare, makeup, haircare, etc.
3. Lukas Sabbat
At the age of 23, this New York native has been able to amass a following of over 2.3 million followers. He gained most of his following at the age of 20. His recognition on the runway for designers such as Lanvin, Laquan Smith, and more contributed to his notoriety.
Sabbat is known for his urban streetwear aesthetic that is setting trends in the men’s fashion industry. He resonates best with people who love tracksuits and how to navigate through various seasons.
4. Jim Chapman
He is a London-based blogger and Instagrammer who boasts of a following of a little over 1.9 million followers. His success in fashion saw him voted as GQ’s best-dressed man in 2015.
As a YouTuber, he has been able to comfortably accrue a viewership of more than 98 million videos from his weekly videos. The Jim Chapman YouTube channel currently has more than 2 million viewers. One of his British GQ videos titled “How to buy a suit” has more than 1 million views.
Study the fashion industry and see which fashion best resonates with you. It will help you follow the right influencer customized for you. The fashion industry is diverse and has very many aspects to it.
Different tenets of the fashion industry have different consumers, different products, and even different influencers. Choose the one that resonates with you.