# Professor David Yermack's research on Michelle Obama's impact on the fashion industry is referenced

1 Faculty News October 8, 2016 ![Vogue logo](/sites/default/files/styles/246w/public/assets/images/con_032005.jpg?itok=cNIqeW6J)>

Excerpt from [Vogue](http://www.vogue.com/13490246/michelle-obama-5-things-you-didnt-know/) -- "In a 2010 study of Michelle’s economic impact on the fashion industry, [David Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack), of the Stern School of Business at New York University, found that the average value to a company following an appearance of an item worn by the First Lady was $14 million."

[Read more](http://www.vogue.com/13490246/michelle-obama-5-things-you-didnt-know/)