For decades, there were two cities that were considered the capitals of world fashion—Paris and Rome. But by the end of the 20th century, three new cities had entered the race. New York, Milan, and London are the newest fashion capitals. In fact, Milan is now home to the largest fashion industry on earth. But perhaps even more surprising is the rise of London.

London went from a swinging, trendy fashion town to one of the most influential and innovative cities for the top designers. Altogether, the entire clothing industry, which includes accessories and footwear, contributes over 53 billion pounds to the economy. In short, it is one of the largest and most profitable industries in the UK.

More than 180,000 people work in the Clothing/Design/Textile industries in the UK. Around 80 percent of them are women, which makes it one of the largest employers of women in the Kingdom. The largest growth segment is designer labels and in interior design Toronto.

In 2009, sales of designer clothing and accessories topped 450 million pounds. Not to mention the great success of London Fashion Week (LFW). What is it? LFW gives the world's best designers the opportunity to showcase their new Spring/Summer lines to the press and the public ahead of schedule.

Each year an average of 5,000 people attend the event and designers receive millions of pounds in advanced orders based on their shows. In fact, 26 designers recorded a combined total of over 100 million pounds in advance orders in 2009.