FIT hosts Symposium on Paris, Capital of Fashion and its Influence

FIT's (Fashion Institute of Technology) 22nd annual symposium was held at the Marvin Feldman Center in New York on October 18. The one-day event explored what it means for a city to be deemed a "fashion capital" and why Paris is generally considered the most prestigious and competitive fashion capital in the world.

Speaking about French Luxury and Fashion, Professor Dr. Frederic Godart, Co-CEO of the IFDAQ and Academic Director of the Luxury Certificate at HEC Paris, revealed the Top20 cities that have a profound influence on the world of fashion and luxury with New York ranking as number one and Paris number two.

From remarkable fashion companies to new icons from the world's leading fashion agencies, New York's prime new developments have grabbed headlines around the world in recent years. The city is headquarters to many leading fashion magazines and powerful fashion agencies. The top 16 modeling agencies control around 56% of its entire modeling market.

'This is a unique ranking that relies on an exceptionally broad and deep range of data and provides a fine-grained vision of the global fashion industry. We believe this will help fashion professionals make more informed decisions,' said Godart.

While the so-called 'Big Four' - New York, Paris, Milan, and London - have remained the center for fashion in 2018, in recent times, a slew of new smaller cities emerged challenging their position. Fashion capitals change periodically and none of the 'Big Four' are sacrosanct as such, with each of them having to re-assert their authority from time to time.

'Artificial intelligence can play an important role in the analysis of the cities that are at the forefront of fashion and style today and will lead to big changes in the field,' said Godart. 'More e AI-based instruments are being developed and there is a consensus among fashion scholars and professionals, that the fashion industry will move towards a 'poly-centric' system of Fashion Cities where power rotates across cities, with each taking turns holding the coveted number one position,' he added.



A full study on the IFDAQ Global Fashion & Luxury Cities from Q3/2019 along with the methodology details can be viewed online at http://research.ifdaq.com/cities/

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