Who's Got the Power?

Fashion designers may get all the glory, but they don't necessarily pull the strings anymore. In today's global luxury business, the key to success is not only the talent but also how to manage it

ONCE UPON A TIME, FASHION WAS A BUSINESS defined solely by creative talent. A bubble skirt, a padlocked handbag or any other commercial success was attributed to the "artiste" who sketched out his or her dreams and somehow, with just a hemline or a dangly tchotchke, was able to seize the zeitgeist and magically send millions of cash registers ringing. Every six months, newspapers and fashion journals would feature quaint headlines announcing the dictates of those creative types—PARIS SAYS PANTS! Nobody paid much attention to the anxious number crunchers in the back offices studiously poring over sales estimates and marketing budgets.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!