Jennifer Hyman of Rent the Runway and Deirdre Quinn of Lafayette 148 discussed with the Wall Street Journal how Ozempic users are reshaping fashion trends and boosting apparel sales.
Ozempic and/or Mounjaro users are likely to sustain their weight loss if they can stay away from processed meals and obtain some exercise. The good news is that some of these people may already be looking for smaller clothing because they gave up greasy burgers and doughnuts.
Speaking with Suzanne Kapner of the Wall Street Journal, Jennifer Hyman, co-founder and CEO of Rent the Runway, discussed the growing trend of consumers moving to smaller sizes more than at any other point in the previous 15 years.
According to Hyman, these clients are becoming more willing to try out novel looks, like cutouts and other body-baring elements. “When you feel more comfortable in your skin, you’re more willing to try edgier looks,” she said.
Deirdre Quinn, the chief executive of apparel boutique Lafayette 148, revealed to WSJ’s Kapner that about 5% of the company’s clientele has already started purchasing new clothes as a result of losing weight.
According to Quinn, some consumers are switching from size 12 to a size 6 or 8. Because smaller sizes require less fabric, she claimed that the shrinking trend increases sales and saves the business money.
Dressmaker Amarra’s co-founder and creative director, Abhi Madan, said, “Our retailers have been telling us they need smaller sizes over the past year.”
More than 15 million adults in the US, or 1 in 8 of them, had taken GLP-1 medications as of May. Novo Nordisk, the company that makes Wegovy and Ozempic, recently said that at least 25,000 people are beginning its weight loss treatment weekly.
In a note published last fall, Bank of America analyst Geoff Meacham first discussed the issue of downsizing and highlighted how the obesity drug’s side effects may affect the clothes business, stating that “eventual weight loss in the broader population could spur a wardrobe replacement cycle.”
Meacham calculated that $50 billion in new apparel expenditure might arise from the assumption of buying new clothes and an adoption rate of 38 million people utilizing weight-loss medicines (the midpoint of BofA’s predicted 2030 TAM).
Subsequently, as noted by Bloomberg in a recent report, GLP-1 medications will probably target “America’s fat pets.”
Recently, GreatGameIndia reported that according to a study published in JAMA Network Open, Ozempic, costing $1,000, could potentially be manufactured for as little as $1, with a month’s supply ranging from 89 cents to $4.73.
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