The First Lady is so influential that she can move retail markets simply by what she decides to wear out.We read last week that during a span of 189 public appearances, Michelle Obama has created $2,700,000,000 of total value for 29 companies, according to research conducted by David Yermack of the Stern School of Business at New York University.
That’s $14,000,000 of value generated by any given public appearance.
During a one-week trip to Europe, for instance, the stocks of retail companies whose clothes were worn by the First Lady outperformed the S&P 500 by an average of 10.2%.
To test out this incredible trend, we’ve looked at the day Michelle Obama wore J Crew, for example, and then found the date the stock price jumped.
Appearance: The Tonight Show; 10/27/2008
Stock Change: + 8.2% (10/24 - 10/31, 2008)
The next day the entire J.Crew website would cease to function because traffic was so high. Company stock followed suit gaining 18.77% over three weeks
Appearance: Inauguration; 1/20/2009
Stock Change: + 18.77% (1/16 - 2/06, 2009)
In December of 2009, the First Lady dressed in a formal gown from Saks for the Nobel Peace Prize gala
Appearance: Nobel Peace Prize; 12/10/2009
Stock Change: + 11.37% (12/10-12/21, 2009)
Appearance: State of the Union address; 1/27/2010
Brand: Liz Claiborne, Inc.
Stock Change: + 39.6% (1/26 - 2/26, 2010)
During a week-long trip through Europe this past spring, the stocks of the brands whose clothing was worn by Michelle Obama gained 16.3% on average.
Appearance: Trip through Europe (3/30 - 4/06, 2010)
Stock Change: + 30.67% (3/30 - 4/26, 2010)