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The central argument underlying this paper is that Fashion has an impact on the perception of capital cities. Fashion capitals are the conjunction of two major and global phenomena. On one side the number of large cities is increasing as well as the size of existing ones, reaching new heights in world history, on the other side cultural industries are considered as a means of economic growth by international organizations and governments. For these reasons we chose to examine the five major fashion capitals, New York, Paris, Milan, London and Tokyo, and see if their experience can be some kind of a model for emerging ones. Capital cities are at the heart of the global Fashion system, a system in which major players in each country, from the industry, banks, the government, educational institutions, can all work together, and have the ability to accelerate or hinder the growth of their local fashion companies and brands. In todays world, the perception of a country is a major issue, that can influence economic decisions, and we think Fashion is one of the cultural industries that can increase positively a national image.Thanks to globalization and the flow of information through IT systems of the last two decades, the role of capital cities has reached a higher level in a global scale. Capital cities avenues are the main target of global companies and brands, where millions of tourists shop. Global fashion press, fashion websites, tv programs, advertising campaigns accelerate the spread of images, and broaden audiences. Global brands impact our lives like never before, whether we are conscious of it or not.Our comparative and historical approach aims at giving new insights from within the fashion industry to urban planners that had no knowledge of its impact. It is known that capitals gather central and powerful entities in politics and administration, economy and business, and industrial clusters and innovation. As such we argue that the emergence of a fashion scene is one of the outcomes of a citys evolution, and possibly a symbol of a countrys maturing stage. We can also argue that fashion itself is an exceptional tool to promote a countrys image abroad, as the flow of images they create and transfer can reach the masses like never before, and change perceptions. Therefore fashion weeks in booming cities are competing to catch worldwide attention, as well as trendy places, shopping areas and underground artistic places. In the first part we will make an overview of the main characteristics of the five fashion capitals. In the second part we will examine the emerging cities and some of their actions, and lastly we will summarize the benefits of Fashion for a countrys image and suggestions for further development.