California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

It’s fashion week in Los Angeles, as designers showcase their designs for Spring 09.
Designers, marketers and journalists descend towards the runways for the week to
present and see trends. The two fashion weeks, March and October create about $50
million in expenditures.

Fashion is big business in Los Angeles.  In a report completed on the impact of the fashion
industry on the Los Angeles economy in 2006, it illustrated that there were 35,000 people
directly employed in the industry that indirectly supported another 31,000 jobs across the
region creating over $2.2 billion in salary and wages.  It is estimated that the industry overall
has a $5.7 billion annual economic on the region.

A comparison of Los Angeles and New York wholesale job counts shows apparel wholesale
job counts rose by 7% in Los Angeles between 1998 and 2004, but they fell by 17% in New
York. And Los Angeles had 11% more fashion establishments employing 37% more workers
than New York in 2004.

The LA Fashion District is located in downtown Los Angeles. The District spans 90 blocks and
is the hub of the apparel industry for retailers, wholesale buyers, designers, stylists on the West
Coast.

I am Tim Johnson and this has been the California Business Minute.

For further information see:
www.fashionweekla.com; www.fashiondistrict.org