Okonkwo Prelims

These factors also contributed to the rise in status of American designers like

Michael Kors and Marc Jacobs, and mass-market fashion brands such as

Guess and supermarket fashion like Wal Mart and Target. This decade also

saw the most dramatic rise in the American luxury consumer population.

The American fashion environment of the 2000s is highly developed and

sophisticated. The luxury consumer market has witnessed unprecedented

expansion as a result of several wealth-creation opportunities. The wealth

index of Americans is on a steady upward slope and a large proportion of

these wealthy consumers are young. Their profiles, characteristics and atti-

tudes towards luxury goods are different from their predecessors and their

expectations include a complete luxury experience in product and service

offerings. In response to this, several luxury brands began the 2000s by

extending their product ranges to include a total lifestyle offering for the

consumer. Luxury brands that previously produced accessories, expanded

into apparel and vice versa. American designers such as Ralph Lauren and

Calvin Klein launched high-end accessories, children’s wear and furniture

collections. Luxury brands also diversified into other products and services

categories like hotels and restaurants as a strategy to extend their brands from

‘luxury fashion brands’ to ‘luxury lifestyle brands’. Also, the American

consumer’s desire for convenient luxury shopping has led to the increased

adoption of the e-retail of luxury goods by luxury brands. In addition to these,

the American fashion market continuously influences global fashion trends

and management practices through several developments.

The evolution of American fashion and its influence on the global luxury

fashion industry has undoubtedly been significant. As the largest retail market

in the world, the American fashion market has a stronghold on the global

luxury fashion industry. The competitive and consumer fashion environments

of America significantly influence the current state and future direction of the

global fashion industry. As the market continues to advance and mature, its

consumers’ level of influence will doubtlessly remain important.

So, having said all this, what is the American fashion style? The answer to

this question can be found everywhere. From New York, Paris, Milan,

London, Stockholm, Hong Kong, Tokyo, Bombay, to Sydney and beyond.

When we look around us, on the streets, in buses, trains and elevators, what

we see in people is a relaxed attitude to fashion, an individual fashion inter-

pretation that is sometimes elegant, sometimes casual, sometimes sophisti-

cated yet with a consistent undertone of ease. That is the modern fashion and

it is the American style.

The luxury brand index

Table 2.1 lists most of the fashion designers and brands that have contributed

to shaping the global luxury fashion market. Some of these brands have

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luxury fashion branding