Fashion Economics Blog #2

SOURCE: Fentybeauty.com

The economic principle I’m exploring is “Because of Scarcity, people choose. All choices have an opportunity cost” My research question to help me study the economic principle is “Given a scarcity of resources, how do fashion industries choose what to include in their products, specially feminine fashion?”
  The article published in The Guardian] titled “Rihanna’s Empire: Empowering Women and Making Lots of Money” demonstrates this economic principle by arguing/showing that the key to success is to empower women, have inclusive products, and to have a loyal following.

 First, Having products that make their users feel good about themselves raises the chances that they will be back for more and will spread the word. It reaches a wider audience, not just a selective few. In the article, the creator, Rihanna, states that “ [She} can only hope to encourage confidence and strength by showing lingerie in another light. You don’t have to stick to one personality with lingerie; it’s fun to play around …[She] wants people to wear Savage x Fenty and think: I’m a bad b*tch. [She] wants women to own their beauty.’”. This mindset over having certain clothing be only to please others is what drew her crowd in. It is finally a “Safe space” where women know they only need to please themselves. When looking at the numbers, it is certainly a success!

Second, by having a wide variety of inclusive products more people can find something that caters to them. Big companies tend to only focus on white, slim women. And while they try to push their boundaries they are almost never successful. This doesn’t just go for clothing lines, but also in cosmetics. Rihanna got so much success due to the fact that her clothing line has “Bras that are available from 32A to 44DD (although established brands such as Rigby & Peller extend a further five sizes, to a J cup), while underwear and the rest of the collection ranges from XS to 3XL”. Not only that, but her pieces are also “modeled by a diverse group of models of all sizes and skin tones”. This helps women who don’t fit the norm find something that they feel confident in. I can speak from experience that finding “nude” colors that match my skin tone and look good is hard. I am not as slim as what big companies market towards, so any company that pulls away from that is always praised by those of us who need more representation.

Third, to be a success you need to spread the word. While good reviews will get you far, it takes time. But if you are like Rihanna, who is already highly praised, the business starts right away! She was guaranteed a prosperous business, but it was blown out of the water when people saw what she had to offer. Even without her name on it the line could stand on its own! Jo Osborne even said, “‘While we predicted that the brand would be popular with our customers and Rihanna fans alike, we could not have predicted how quickly the products would sell out”.

Future Research Question: Do people prefer comfort or aesthetic?