Last week, I took a look at the entertainment industry and its position as a potential stalwart during times of stagflation. Well, it sounded like I was just talking about going to the movies and how much fun that might be, but sometimes I'm too subtle. That happens.

So, with Yves Saint Laurent dying and all, it seems like a moment to look at fashion.


First, what's the point here? Well, the more informed we are about the industries that make up our global economy, the more agency we can take in defining our careers, investments and accumulation of wealth within this global economy. Fashion, like entertainment, is an industry that doesn't immediately come to mind as one that attracts a lot of investment chatter. Technology, pharmaceuticals, automotive, financial services — these are the industries that tend to get the investment media coverage. (Is it any coincidence that these are also heavily male-dominated industries that make stereotypically guy-oriented products? I don't think so. Okay, I'll admit I haven't done all the homework to make this point, so I should save it for another blog. Anyone who has done the research, please post.)

And yet, fashion is big business. Look at Yves Saint Laurent. According to the New York Times, "Originally a maverick and a generator of controversy — in 1968, his suggestion that women wear pants as an everyday uniform was considered revolutionary — Mr. Saint Laurent developed into a more conservative designer, a believer in evolution rather than revolution." By 2007, this maverick's company was earning €221 million annually.

Yes, it took a gay Frenchman to convince the world that women could look hot in tuxedos. Imagine this. Let's hope we're the ones who make €221 million a year off the idea next time.

In case you are interested in doing some research on the economics of fashion yourself, keep in mind that business-world knowledge is a little rudimentary in this area. "Fashion" won't get you very far at all in your economic research, actually, as economic and investment resources refer, rather, to the "apparel industry." The top revenue-grocer in the apparel industry Fortune 500 list for 2007 was Nike, with just under $15 billion in annual revenue. The second highest revenue earner for 2007 — now this should give you a sense of the difference between big names in the "apparel industry" and the names with cache in fashion world — was the VF Corporation with $7 billion annually. VF Corporation, in case that name didn't ring a bell, is a conglomerate that makes most of its money off jeans, including Lee and Wrangler. (Gee, where would the fashion business be without lesbians, anyway?)