KEY INSIGHTS:
Global Shift in Fashion Influence: The traditional dominance of fashion hubs like Paris and Milan is waning as influence shifts to emerging markets.
Decentralization of Fashion Trends: European suppliers and trade fairs are losing their status as trend leaders, with emerging markets and their suppliers gaining increasing importance.
Media and Consumer Power Shift: Digital influencers, particularly from non-Western countries, are surpassing traditional fashion media, requiring brands to adapt to a fragmented global consumer base with diverse regional preferences.
The fashion industry is undergoing a shift from a unipolar to a multipolar world, fundamentally altering how the key pillars of fashion operate. Traditionally, the fashion system was centred around a few dominant cities—Paris, Milan, New York, and London—dictating trends and practices across the globe. This unipolar system influenced every aspect of the industry, from material suppliers to the final consumer. However, the rise of digital technology and globalisation has disrupted this long-standing order, creating a new, more complex landscape.
The Unipolar World: An Era of Concentrated Power
In the unipolar era, Western Europe and North America were the undisputed leaders. Seasonal trends were set by European fabric and yarn mills, with critical industry fairs like Première Vision in Paris and Milano Unica in Milan at the helm. Luxury fashion brands, primarily consolidated into conglomerates like LVMH and Kering, held sway over global markets. The major fashion weeks in Paris and Milan were the primary stages where these brands showcased their collections, with New York and London playing supporting roles.
The fashion press, dominated by giants like Condé Nast and Hearst, held the power to make or break brands through influential publications like Vogue and Harper's Bazaar. Retail was concentrated in prestigious department stores such as Barneys New York, Selfridges, and Isetan, which dictated consumer access to high fashion. Customers, largely based in Western countries, followed the trends set by these central pillars.
The Multipolar World: A Decentralised Landscape
Today, the fashion world is becoming increasingly multipolar, with influence spreading across new regions and platforms.
Suppliers: European fairs like Première Vision are losing influence, with growing attendance at trade fairs in countries like China and Turkey. These emerging markets are becoming significant players in the global supply chain, offering alternative influence on materials, production and trends.
Brands: The dominance of Western luxury conglomerates is waning as they face declining share prices and increasing competition from brands based in Asia and other emerging markets. The rise of independent and regionally focused brands is reshaping the global brand hierarchy.
Fashion Weeks: Paris Fashion Week, once dominated by French brands, now features a more diverse lineup, including key players from Tokyo and New York. This reflects a broader shift where regional fashion weeks are gaining importance, offering alternative perspectives and new creative directions.
Fashion Press: Traditional fashion media's influence is diluted by the rise of digital platforms. Bloggers, influencers, and celebrities, particularly from Asia, have become crucial in shaping brand perception. An endorsement from a K-pop star, for example, can have a more substantial impact than a review in Vogue.
Retail: The traditional department store model is in decline, with iconic stores like Barneys New York closing their doors. Meanwhile, online platforms like Ssense and MyTheresa are gaining prominence, catering to a global audience with a more curated and accessible shopping experience.
Customers: The customer base is now global and fragmented, with diverse tastes and preferences. Brands must navigate the varying needs of younger, digitally-savvy consumers in China and the more established, traditional customer bases in Western markets.
Implications for Fashion Brands
This shift to a multipolar world presents both challenges and opportunities for fashion brands. The traditional trend forecasting, dominated by agencies rooted in the unipolar centres, is increasingly inadequate for interpreting the diverse needs of global markets. Growing regional differences in consumer tastes require brands to be more agile and responsive.
At Kondo & Partners, we specialise in helping brands navigate this complex, multipolar landscape. With our dual expertise in Western Europe and Central and Eastern Europe, we offer a unique perspective on how trends adapt and evolve across different markets. Our approach is rooted in understanding local nuances while applying a global outlook, ensuring that brands not only survive but thrive in this new environment.
Let’s collaborate to harness the opportunities presented by this multipolar shift and elevate your brand to a global level of competitiveness.