Introduction The fashion industry is often treated as something frivolous, which does not seem right given the scale of it and the influence that it has on not only people’s lives but also on state’s economies to a considerable degree. Although there has been a tendency toward delegitimizing the fashion industry due to the allegedly superficial set of values and a shallow tendency to focus on appearance, the industry has been doing outstandingly well. According to the latest statistical data, in 2012, the total revenue of the industry made 1.7 trillion USD5 (1.3 trillion EUR) (Stotz and Kane par. 4), which is rather impressive by the current global economy standards. The fashion industry has reached the magnitude that allows it to influence the economy on both the local and the global levels to the same degree. To be more accurate, the success or failure of the innovations introduced to the target environment defines the influence of the purchasing power parties for the GDP of the countries that are involved in the specified industry. The reasons for the above phenomenon, though seemingly unexplainable, are legitimate. Since the fashion industry defines the success of a variety of other essential elements of the state economy, including the industries such as wholesale, as well as the aspects such as the employment issue, etc. However, the correlation between the Purchasing Power Parities of the states and the degree to which they engage in the fashion industry is far from being in proportion. Instead, the degree, to which the success of the fashion industry affects the actual economic performance of the states, is affected by the performance in the fashion industry. Literature Review The significance of the fashion industry, while admittedly being bloated, is still quite obvious. Clothing is an absolute necessity for people all over the world, which means that the apparel industry operates with extremely inelastic demand. In other words, the demand for clothes, shoes, and accessories does not depend on the prices that retailers are going to set for the goods in question. The fashion industry, however, is quite different from the apparel one in that it links clothes directly to the status that one has in the society; more importantly, the identified industry claims that the two factors have a reciprocal impact on each other. In other words, clothes and the related items, including shoes, accessories, cosmetics, etc., affect one’s social status and can either elevate or marginalize one based on the clothes that one wears among a certain audience (McCracken 113). The above influence determines the impact of the fashion industry on the purchasing choices made by citizens and, therefore, the Purchasing Power Parities for GDP across the world. Purchasing Power Parities (PPP) are typically defined as the characteristics that “indicate how many currency units are needed in one country to buy the number of goods and services that can be purchased for currency in another country” (Avakov 547) and, therefore, serve to identify the currency rates in the environment of a particular state. Therefore, PPP serves the purpose of a powerful indicator of economic wellbeing. In other words, the subject matter can be used as an efficient tool for identifying the economic potential of a particular state and, thus, may be incorporated into an economic analysis as an essential characteristic. Before carrying out