Vogue Business, a global fashion platform, released 2025 New Fashion Capital Index Report on December 22. According to advantages in five metrics including consumption power (including GDP per capita and quality of life); business potential (including store openings and ease of transportation); cultural charm (including the city's richness of fashion culture and cultural activities); innovation manpower (including the city's capacity for new fashion formats and use of local talent); and development power (including sustainable development and financial stability), Hangzhou tops the ranking.