From the Met Gala to Milan: Does Fashion Need Tech Bros to Survive?
Tech billionaires, once seen as outsiders to high fashion, are increasingly appearing at elite fashion events and investing in the industry, signaling a shift in their public engagement. Fashion, meanwhile, faces declining valuations and waning interest from younger consumers, creating a need for new sources of capital and innovation. This convergence suggests a growing mutual dependency between tech leaders and the luxury sector.
- ▪Tech billionaires like Jeff Bezos, Mark Zuckerberg, and Elon Musk have recently attended major fashion events such as the Met Gala and Milan Fashion Week.
- ▪The combined valuations of top luxury brands fell by 5 percent from 2023 to 2025, according to Interbrand's Best Global Brands report.
- ▪McKinsey's State of Fashion 2025 report indicates the luxury sector is expected to generate less value than the previous year.
- ▪Over 60 percent of consumers in the U.S. and U.K. say they are trying to save money on fashion, with the figure reaching 75 percent among U.S. shoppers.
- ▪Oxford researcher Neri Karra Sillaman describes the relationship between tech and fashion as a convergence of power, influence, and long-term positioning.
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By Melissa Fleur AfsharLife and Trends ReporterShareNewsweek is a Trust Project memberSee more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.They might have billions in the bank, but tech entrepreneurs—dubbed "tech bros"—have never been regarded as titans of haute couture.From Steve Jobs' signature turtleneck to Mark Zuckerberg's crewnecks, and the white button downs that Elon Musk and Jeff Bezos favor, each entrepreneur is synonymous with their "normie" outfit formula and are never photographed in Avante-garde styles—perhaps, to not alienate the general public who earn less than a fraction of what they do.But, in recent years, something has shifted, with the upper echelon of tech billionaires now sitting front row at…
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