Fashionably late

United States/Europe

Covington & Burling's Eveline van Keymeulen and Louise Nash examine the US courts' unwillingness to apply IP protection to fashion works

The global fashion industry (including apparel, footwear and accessories) is estimated to be worth $1,306 billion, thus accounting for approximately 2.1% of the global gross domestic product (GDP). Although the fashion market has a truly international character, the majority of "creative" fashion originates in Europe and the US, where major designers introduce their collections in a series of runway shows at famous "fashion weeks" in Paris, London, Milan, and New York. The European market, in pole position, accounts for $443 billion, while the North American market represents the second largest market with $352 billion. Remarkably, the fashion industry shows the highest revenues of all creative industries, exceeding those of books, movies and music combined. ¹ The signs are, at least at the top end of the luxury market, that sales will continue on a double-digit growth trajectory, despite the difficult economic environment. ²