Has Fashion Given Business Women a Fighting Chance?
T-shirts on the Christian Dior runway not too long ago declared, “We Should All be Feminists.” More recently, the show space was plastered with protest and feminist imagery. In light of the state of the gender power structure in the fashion industry, it is difficult not to wonder if she is not only talking to her Dior customers but also the fashion’s reigning powers that be: The many men behind many of fashion’s biggest brands. There is, after all, a stark lack of women at the helm of the industry’s most well-known brands, and also behind the scenes.
This is a particularly interesting phenomenon if we consider the breakdown – numbers wise – of the market for luxury goods. In a 250-billion-euro market, 85 percent of personal luxury goods consumers are women, according to a 2015 Bain report. Euromonitor confirmed that luxury womenswear and accessories continued to outperform menswear in 2016. And as recently as October 2017, online marketing consultancy PMX Agency found that of Gen X consumers – those born between 1965 to 1984, who make up the biggest buyers of luxury goods – women were still significantly outspending men.