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auther: date:2013-07-06
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Michelle Obama Fashion Choices Influence Stock Market First lady Michelle Obama is hailed as one of the world's best-dressed women.Cheap Ray Bans Stern School of Business, performed a year-long analysis of the economic impact of Obama's apparel selections. He found that her choices had a major influence on clothing markets. Obama's Choices Benefit Seventh Avenue and Wall Street "Each single appearance of hers could move a stock price by $14 million, " Yermack told "Good Morning America. " According to Yermack's results, Obama made 189 public appearances between November 2008 and December 2009. Stores that carry the first lady's favored brands -- such as Saks Fifth Avenue - also appear to benefit in the long run, Yermack found. Obama's Midas touch has followed her overseas. During a trip to Europe last year, the stock prices of the companies whose clothing she wore increased by 16. 3 percent, Yermack found. Companies whose designers weren't worn by Obama appeared to suffer. Yermack's analysis showed that 27 companies whose designers weren't favored by Obama during the same period actually lost . 4 percent in value. Very few celebrities seem to have had similar impact on company stock prices, and Yermack believes that's because consumers know she doesn't get money for wearing any of her ensembles. After 18 major appearances by Obama, the designers whose clothing she wore had a 2. 3 percent jump in sales, compared to a . 5 percent average gain that a company could see when it announces a new celebrity endorser, according to Yermack's results. Other style-conscious first ladies don't have the same influence that Obama does, primarily because they may tend to wear clothes from one specific designer, Yermack said. Carla Bruni, the French first lady, appears in public wearing mostly Dior - a high-end label that comes with a hefty price tag. Obama, on the other hand, regularly mixes and matches clothiers. "I think one of the reasons that she has this effect is she wears both high culture and kind of everyday fashion so it doesn't seem out of reach, " Yermack noted.
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