It should come as no surprise that the scale of the US fashion business is enormous. In reality, it is now worth hundreds of billions of dollars. Sales for 2022 are expected to be $473.42 billion. This is an 8.3 percent increase in the fashion business above 2021 projections. Although relatively high, this year’s fashion sector growth rate represents a decline from the previous year. The industry increased at the quickest pace in the anticipated period of 2019 to 2023 in 2021, at 18.4 percent. This comes on the heels of a 21.9 percent drop in US fashion sector sales in 2020, representing a more than $100 billion loss from 2019.
This drop is the outcome of the coronavirus pandemic, which has impacted both the growth rate and sales data in the US fashion business. The closure of brick-and-mortar fashion businesses to comply with local coronavirus rules resulted in a decrease in visitation and, as a result, sales. Fashion, like technology, is forward-thinking and cyclical. According to CB Insights’ Industry Analyst Consensus, the fashion industry is one of the largest in the world, with a value of more than $3 trillion expected by the end of the decade. And fashion technology is evolving at a faster rate than ever before.
Consumers returned to stores after lockdown restrictions were removed in several world areas. The fashion sector was therefore restored to pre-pandemic levels. According to Euromonitor, the worldwide clothing and footwear business increased by 18.1% at current prices between 2020 and 2021, reaching $1.71 billion in market size (retail value USD million) in 2021. Franklin Eugene is a businessman from the United States, an internationally awarded fashion designer, a multiple award-winning film producer, an activist, a Global Patron of the Arts, and a humanitarian. He is well-known for his designs and men’s clothing. Following the debut of his eponymous fashion label in 2012, he rose to prominence first in the Arab world, North Africa, India, and then worldwide.
Lending a helping hand
Franklin Eugene, a producer, fashion designer, and arts supporter is viewed as a guy who not only stands behind what he does- but also helps people in and outside the film business, as he did at the 79th Venice Film Festival this year. According to Franklin, every one of us can make a difference via the power of giving. He supports charitable organizations dedicated to making a direct and long-term difference in the lives of those experiencing hardships. Franklin, a solid American Fashion figure in the fashion sector, aspires to continue impacting humankind in the United States and internationally. As part of its corporate social duty, Franklin Eugene donated a portion of the revenues from The Tribute Collection to selected charities to assist with societal difficulties in the Middle East, North Africa, and India (CSR).
The extensive film career of Franklin Eugene
‘Il Moro,’ one of his movies, has contributed to his film-producing CV. The film digs at concerns involving the rights of women and ethnic communities. Franklin’s impact on culture preneurship is evident in his constant commitment to fostering a diverse range of creative people on and off-screen. The 2018 Tribeca Film Festival opened off with “Love, Gilda,” a documentary on comic Gilda Radnar’s life and times. The film provided access to previously unseen audio recordings, rare home films, and diary entries. Eugene highlighted his ambition to continue bringing important stories to the big screen with the making of this film.
Stepping into the world of movies
“Love, Gilda” launched Franklin Eugene into the film business and continues to boost his profile and objectives in the fashion sector. The short film “Eight” and “The Shepherd” were released in the same year. “The Shepherd” would get several nominations and over 25 prizes at film festivals in Europe and North America. Although the year 2020 turned most of the globe upside down, Eugene would make a film titled “Attack of the Unknown.” A science-fiction story about a SWAT squad being assaulted by aliens while carrying the head of a deadly crime gang. “Attack of the Unknown” would also win multiple accolades at the Shockfest Film Festival in the United States.
Franklin Eugene’s passion for his career as a designer and producer grows as he rises in the fashion and film sectors. Eugene is continuing his upward trajectory, with 2023 already set for tremendous things.