The stock market has been on a wild ride since the world collectively began to realize that Donald Trump would be the next President of the United States of America, and that uncertainty will also have an affect on the fashion industry. Of course, everything right now is mostly speculation, since Trump won’t assume office until January, but Fashionista has put together a handy summary of some of the current effects and what might come next.
According to analysts, there could be “negative consequences for luxury” and possible “positive ones for accessible fashion,” but the fact that Trump has a distinct lack of actual policy detail makes it hard to judge.
If Trump is committed to his anti-globalist viewpoint (and who knows with that guy), then it could mean higher taxes on foreign goods, which could hurt international brands. On the other hand, if he does in fact lower taxes on the wealthy, that extra spending money could mean an increase in sales for high-end luxury brands.
But if the U.S. economy, and subsequently world economy, are negatively affected by a Trump presidency, then naturally the fashion industry will suffer as well.