First Lady proves to be fashion trend setter
on Friday,October 29,2010 18:10
First ladies have had an influence on fashion trends in the past, but Michelle Obama has taken it to a new level.
The current first lady has helped fashion designers make millions just by wearing their outfits, according to The Week, a national news site. David Yermack, a professor at New York University, looked at trends in the 29 clothing companies that Obama had sported ensembles for. Their stock prices typically saw at least a 2 percent increase after Americans caught wind of the brand name.
"Even when his [Barack Obama] approval ratings are down, Mrs. Obama's style score soars," writes NBC New York columnist Marni Katz
Yermack says that Michelle Obama's influence on fashion cannot be compared to any current celebrity's trend.
Fashion designing jobs are only expected to increase by 1 percent over the next eight years, according to the U.S. Bureau of Labor Statistics. However, wholesale retailers are predicted to see an increase in business as more Americans look for affordable ways to get their hands on these looks.
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