(1) Fashion is a $300 billion industry…that’s just in the U.S.
(2) Fashion industry generates $58.2 billion in revenue…that’s just in L.A.
(3) Fashion industry accounts for about 168,400 jobs…that’s just in L.A. and Orange County.
Think about all the different types of law suits you’ve ever heard about—accidental injuries, assaults, bad service, stolen ideas, breached contracts, sales shams, the list goes on and on. Now think about all those lawsuits within the context of a $300 billion industry with millions of employees, millions of customers, millions of retail stores, and millions of factories.
If you didn’t appreciate fashion law or if you never really thought about it before, I hope this was a bit eye opening.
Loyola just held the very first Fashion Law Symposium in L.A. Lawyers, fashion designers, and students came together to discuss the leading issues in the fashion industry.
I attended with my cousin, who is a fashion designer and knows very little about the law. I was pleasantly surprised at how much my cousin enjoyed the panels. The speakers simplified complex legal issues and discussed matters practically. Best example during the technology and consumer privacy panel: malls now have networks that pick up all cell phone signals within the mall and track which stores each cell phone enters and how long that cell phone remains in a certain store! Stalkers much?! Well, it’s mostly legal.
Bottom line, fashion law is a quickly and vastly growing segment of the legal industry, and it shouldn’t be underestimated. I’ll be the first to say that shoes, shoes, and shoes are my favorite part of fashion. However, the law that governs the production and sale of those shoes is a very close second.