BEIJING, July 11 (Xinhua) -- The 2018 Global Fashion Industry Index - Fashion Week Vitality Index was unveiled Wednesday jointly by China Economic Information Service (CEIS) of Xinhua News Agency and Orient International (Holding) Co., Ltd. in east China's Shanghai.
Paris Fashion Week, New York Fashion Week, London Fashion Week, Milan Fashion Week, Shanghai Fashion Week, China Fashion Week, Tokyo Fashion Week, Seoul Fashion Week, Russia Fashion Week and Mumbai Fashion Week were the top ten fashion weeks in 2018, said the index report.
The rankings of Shanghai Fashion Week and China Fashion Week, two representatives of China's fashion weeks, both moved forward by one to the fifth and the sixth compared with the previous rankings, showcasing the rapid development of fashion industry in China.
First released in March 2018, the Global Fashion Industry Index - Fashion Week Vitality Index aims at delivering the voice of China to the global fashion industry through quantitative analysis.
It constitutes evaluation models from media transmission, business circle radiation and factor aggregation, and contains three primary indicators and ten secondary indicators which can help evaluate the vitality value of global fashion weeks objectively and comprehensively.
According to Cao Wenzhong, vice president of CEIS, an analysis of social media's influence on fashion weeks was added to the 2018 index which further studied the interactive impacts of global fashion week trends and gave more attention to the reference value of industry participants such as designers and brand owners, so as to make the index more scientific and influential.
The 2018 index report selected six major fashion weeks in Shanghai, Beijing, Shenzhen, Dalian, Xiamen and Wuhan to deeply learn the driving influence exerted by fashion weeks on consumption in China, and the results showed that all the fashion weeks have driven the consumption in related business districts.
For instance, during the Shanghai Fashion Week, fashion and catering consumption, high-end hotel reservation and other related business activities all greatly improved.
Currently, Shanghai Fashion Week has already become a business card of Shanghai for its branding and construction of an international consumer city, noted Hua Yuan, director of the Shanghai Municipal Commission of Commerce, adding that the week has driven the consumption transformation and upgrading in Shanghai.
The increasing participating brands home and abroad and fashion releases have driven major fashion weeks in China develop into diversified service platforms which helped host cities to play an influential role in industrial value chains such as fashion production and design, said the report.
Meanwhile, the connection between offline fashion products and online e-commerce platforms has opened a new era of fashion consumption for consumers, the report also said.
The eastern and western markets for global fashion industry were evenly matched in 2018, and the total amount of the Chinese fashion consumer market may rank first in 2019, followed by the U.S., Germany, Japan, UK and India, noted Agnes Kubiak, the chief creative officer with Fashion DeepBlue at the event. (Edited by Gu Shanshan)