# Professor David Yermack's research on the economic impact of Michelle Obama's fashion choices is cited

1 Faculty News August 18, 2020 ![Vogue logo](/sites/default/files/styles/246w/public/assets/images/con_032005.jpg?itok=cNIqeW6J)>

Excerpt from [Vogue Australia](https://www.vogue.com.au/events/michelle-obama-style-file/image-gallery/c390ebf1a3fb1f3cf0ef901a4a1fa2b0) -- "As one of the most fashionable figures in politics, Obama was also credited with having a rather large economic impact within the fashion industry. In fact, a 2010 study conducted by Professor [David Yermack](https://www.stern.nyu.edu/faculty/bio/david-yermack) from New York University’s Stern School of Business found that, when the former First Lady stepped out in a particular style, the value of the label she was wearing jumped up approximately US$14 million."

[Read More](https://www.vogue.com.au/events/michelle-obama-style-file/image-gallery/c390ebf1a3fb1f3cf0ef901a4a1fa2b0)