Claiming New York's Pre-Eminent Role As The E-Commerce Capital

New York is arguably the natural capital for fashion, beauty and lifestyle technology startups, building upon the Big Apple's legacy as the fashion capital of the world (yes, ahead of Paris, Milan, and London), not to mention New York's role in the media, advertising and publishing industries too. Just to focus on fashion for a moment: according to the Fashion NYC 2020 report issued in 2015 by the New York City Economic Development Corporation (NYCEDC) approximately 900 fashion companies are headquartered in New York City and the city is the largest retail market in the country, generating more than $15 billion in annual sales. New York City's fashion industry pays nearly $11 billion in wages and generates almost $2 billion in tax revenue each year. Then there is buzz and glamour of the runway and industry galas: trade shows, showrooms, and fashion shows attract more than half a million visitors annually to New York City.

Read More