How Will the 2020s Roar?
Fashion’s always had a little something more. With an entrée into self-image, lifestyle, sex, work, working out, class, international commerce and more, it’s an on-the-go industry changing season to season and moment to moment. But the Internet, the smartphone, social media, e-commerce and the rest have whipped up a whirlwind that’s lasted two decades already — and shows no signs of letting up in the 2020s. All that change has been great for fashion — or at least parts of it. The sneakerheads have been unleashed. The local fashionista has been elevated to international influencer. Nike Inc. is worth over $150 billion in terms of market capitalization and offprice leader The TJX Cos. is valued at over $70 billion. And e-commerce, of course, has made more than a few multimillionaires. The traditional players were largely caught flat-footed — they could almost be heard crying, “We do change, but not this much change!” Now they’ve woken up to the challenges. Walmart Inc. and Target Corp. are relevant in a new way and viable competitors to Amazon, PVH Corp. has brought Tommy Hilfiger into a fresh age and is looking for more brands to snap up, while Levi’s is cool once again — and has a $7.5Follow WWD on Twitter or become a fan on Facebook.
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