Mediaboss Marketing

Throughout the entire time that President Barack Obama was in office, First Lady Michelle Obama had quite the impact on fashion.

Jackie Kennedy may have popularized pillbox hats and capes, but David Yermak of the Harvard Business Review points out that only Michelle Obama was actually able to move markets with her fashion choices.

The stock price gains of the companies whose clothes she wore in public appearances29 brands in allare cumulative abnormal returns. That is, the returns cannot be attributed to normal market variations, he wrote. Some companies that sell clothes that Obama frequently wears, such as Saks, have realized long-term gains.

Further, according to the Harvard Business Review, Michelle Obamas effect on the market is based on a two-fold observation. One, she wasnt paid to wear designers and observers can therefore put more trust into her tacit endorsement than, say, in a fashion spreads tacit endorsement. And two, Mrs. Obama doesnt just wear unaffordable haute couture. Rather, she pairs couture pieces with prt--porter pieces (like, for instance, from J. Crew), which makes it more accessible to the average consumer.

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Inside The Estimate That Says Michelle Obama Drove $2.7B To The Retail Sector And Grew Company Stocks By 2.3 Percent - AfroTech