With the opening of New York Fashion Week (NYFW) this week, many people keep eyes on this glamorous event. New York City is in the spotlight recently. Many visitors travel to New York in fashion week.Undeniably, NYFW brings numerous effects to the economy, but also boost wholesale fashion industry. Let’s check three major points:
1. Economic Impacts
NYFW generated direct visitors income of up to $532 million a year, the overall economic benefit of close to US $900 million. The New York City Economic Development Corporation (NYCEDC) reported.
Meanwhile, wholesale fashion industry experienced a fast increase along with NYFW. U.S. wholesalers’ sales on fashion products reached 158.99 billion in 2013, According to Statista. Wholesale apparel trade is getting larger recent years. The charts show that NYFW bring close to 900 million each year, while the increase of wholesale fashion trade is in a high growth rate.
2.Fashion Variance Needs
NYFW each year witnesses some remarkable styles that make celebrities, fashionistas and fans follow crazily. Some Asian and European designers combine their cultural element with modern fashion. Those designers are creating more and more hot topic on fashion. The voice for various style is up.
NYFW SS 2015：Narcoiso Rodriguez，Nicholas K, Victoria Beckham, Vivienne Tam, 3.1 Phillip Lim, Altuzarra, left to right
For apparel wholesalers, manufacturing or importing clothing with latest trendy elements is more than reducing cost on products. They are starting to choose a diverse and stylish design to catering different customers. Covered western style and eastern elements, wholesale clothing never put a drag on modern fashion.
There are more than 900 fashion companies locates in New York City. More than 500 large and small shows in NYFW. It is quite tough for those sprouting fashion companies and designers to stand out in the grand event. On the other side, NYFW needs extending for reception of more guests and shows.
Likewise, wholesale clothing business face challenges to meet people’s uprising trendy needs. Some wholesalers begin to employ some designers and establish their website to survive in the fierce competition. One top wholesaler in New York City, NYwholesale set up a site and invited some modern designers to create trendy items to draw more customers this summer.