The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
You can find the correct answer and detailed explanation for each question immediately following the question (simply highlight to read), along with all the answers at the end of the quiz. Good luck!
Question 1: Kim Kardashian was recently featured in Love Magazine. Which fashion brand did she wear in the 40-page article?
a. Balmain
b. Givenchy
c. Roland Mouret
d. Prada
Answer 1: Choice (d) is correct. For the 40 pages featuring Kim Kardashian in Love Magazine, Kim is wearing Prada.
Question 2: What percent of European luxury brand sales come from Japan?
a. 5-10 percent
b. 10-15 percent
c. 20-25 percent
d. 30-33 percent
Answer 2: Choice (b) is correct. The Japanese market accounts for 10 to 15 percent of sales of European luxury brands.
Question 3: According to Nels Frye, the founder of Chinese street style blog Stylites.net, China's fashion capital is _____.
a. Beijing
b. Shanghai
c. Hong Kong
d. none of the above
Answer 3: Choice (d) is correct. Shanghai, Beijing and Hong Kong are amongst China's leading fashion hubs. Nels Frye, the founder of Chinese street style blog Stylites.net, says: "I could make a case for any of these cities [to be] the fashion capital of China. For consumers, Hong Kong [is best]. For buyers and brands, Shanghai. And for media, Beijing. But none is [the fashion capital."
Question 4: Piaget is to Jessica Chastain as Gemfields is to ______.
a. Charlize Theron
b. Keira Knightley
c. Mila Kunis
d. Julianne Moore
Answer 4: Choice (c) is correct. Geneva-based Piaget recently signed on Jessica Chastain as its international brand ambassador. Gemfields, the London-headquartered producer of coloured gemstones, hired Mila Kunis as its global ambassador in 2013.
Question 5: The Australian wool industry is facing which of the following challenges?
a. rising demand for meat protein
b. ageing grower population
c. rapidly evolving consumer tastes
d. All of the above
Answer 5: Choice (d) is correct. For the Australian wool industry, some of the greatest challenges lie in dealing with rapidly rising demand for meat protein (reducing the size of our flock), an ageing grower population, and pro-actively dealing with rapidly evolving consumers and their changing modes of dress (especially casualisation).
Question 6: Which fashion designer was known as the architect of designers?
a. Madame Vionnet
b. Roberto Cavalli
c. Christian Dior
d. Yves Saint Laurent
Answer 6: Choice (a) is correct. Madame Vionnet was known as the architect of designers. She invented the bias cut.
Question 7: Inditex, parent company to Zara and Massimo Dutti, announced this week that it will no longer sell clothing made of ____.
a. angora
b. shearling
c. wool
d. silk
Answer 7: Choice (a) is correct. Inditex, the world's largest fashion retailer and parent company to Zara and Massimo Dutti, has bowed to pressure form animal rights activists and will stop selling clothing made from angora in its more than 6,400 stores around the world.
Question 8: Katie Grand, editor of Love Magazine, said that Love is not a fashion magazine but is about ____.
a. music
b. style
c. celebrity
d. pop culture
Answer 8: Choice (b) is correct. Katie Grand has said, "Love is not a fashion magazine. It is about style."
Question 9: The majority of Chinese fashion publishers and magazines are based in which city?
a. Beijing
b. Shanghai
c. Hong Kong
d. Guangzhou
Answer 9: Choice (a) is correct. The majority of fashion publishers and magazines are based in Beijing.
Question 10: Analysts suggest that Prada should focus on which of the following metrics?
a. Revenue per square foot
b. Same-store sales
c. Number of customers served each quarter
d. Profitability per square foot
Answer 10: Choice (b) is correct. "Prada is starting to focus on same-store sales growth three years later than some of their peers as their priorities were elsewhere, but it is clearly better to do it later rather than never," Erwan Rambourg, luxury goods analyst at HSBC and author of The Bling Dynasty, a book focusing on Chinese shoppers. Analysts estimate same-store sales, which Prada stopped reporting last year, fell year-on-year by 12 percent in the third quarter to Oct. 31 and may have dropped by as much as 9 percent in the quarter to Jan. 31.
Answer Key: 1. (d) 2. (b) 3. (d) 4. (c) 5. (d) 6. (a) 7. (a) 8. (b) 9. (a) 10. (b)
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