“In this (fashion) business, you are living in the future a lot of the time.” – Karen Walker.
The above quote holds enough credibility if we go by the words of the experts engaged in the fashion industry. After all, it is believed that the massive topiary of fashion and all its branches survive on the sole substance of prediction.
Till two years ago, the quote as mentioned above could have depicted the core of fashion just perfectly. But then came Covid 19! And we all witnessed what catastrophe and the blow the pandemic brought with it. It also vastly affected the fashion industry in a number of manners.
Impact of COVID Pandemic on the Fashion Industry
Fortunately, fewer were its cons than the pros. i.e., the pandemic helped e-commerce to gain remarkably. The masses had to stay in their abodes, and they started quelling their fashion needs by opting for fashion’s online trajectory, viz the many international online websites dealing in fashion and apparel like shein.com, macys.com, nike.com, zara.com, victoriassecret.com, harperbazar.com, shop.mango.com, puma.com. These global brands fetched record online sales during the pandemic.
Here, one can not exclude the boost provided to the economy by the services of the international delivery businesses across the web dealing in fashion such as DHL, FedEx, Aramex, Delhivery, and our very own India Post. They have always worked relentlessly, not only in the pre-covid times but also during it, to satisfy and quell the to and fro of fashion commodities.
Not to forget, another essential aspect of the fashion business is ‘renting.’ Numerous rental portals, applications, and platforms such as MyWardrobeHQ, EndlessWardrobe, and ByRotation have thrived in the past few years. At Raffles Design International, Mumbai, regarded as one of the best fashion designing institutes in Mumbai, we firmly believe that this economy of ‘sharing’ is now blooming like never before. In fact, according to an estimate by Forbes Magazine, the sharing economy is predicted to thrive to £269 billion by the year 2025.
Connoisseurs of fashion strictly believe that some of the world’s top fashion events like Haute Couture weeks, fashion weeks, fashion awards, carpet fashion awards, and oh-so-eventful Met Galas leave indelible marks on the arena of the fashion business. As a result, they have, in recent years, made international fashion a reality, a possibility.
The Enormous Economic Influence of the Fashion Business
Exclusively, fashion businesses make up multi-billion dollar trades, for the fashion industry as an entirety is worth sizable. It is able to employ masses. Employment and the economy go in sync, which is pretty much valid in the arena of the fashion business as well. When more livelihoods are generated, the economy automatically performs decently. Thus, it could be said that it vastly boosts the economy because of the amount of employment it cultivates and the proportion of capital it yields.
Being one of the best fashion designing institutes in Mumbai, we, at Raffles Design International, Mumbai, can vouch for the fact that the arena of fashion business has the potential to offer multiple windfalls not just to the economy but also to anyone who dreams of a profession in the field of fashion. One could either opt for self-employment via start-ups and entrepreneurship, or role of Trainee Buyer, Assistant Buyer, Merchandiser, Digital Marketer, Visual Merchandiser, Digital or Visual Designer, Brand Coordinator, Ecommerce Coordinator, etc., in many prominent brands with an international presence. All you need to thrive is the right education and ample exposure to the industry.
All in all, one could decipher that when it comes to the international fashion scene, its spectrum as well the probabilities are incessant. And those who have the skills, know-how, and the right kind of backing are sure to sour high in success!