People used to go to fashion shows to see the clothes; now they go to be seen wearing them. The practice of documenting “street style” evolved in the 1980s, when style magazines such as i-D began chronicling people out and about. Today though, the stars of the scene don’t pound pavements hoping to be snapped on the street; they exit chauffeur-driven cars to totter the five or six metres to the fashion show venues, often posing on their phone or chatting with a pal in a matching outfit. Neither do they wear thrift any more: these street stars are seen in the latest designer clothes, sometimes just hours after their catwalk debut. It’s good news for the labels; it’s even better news for those canny enough to monetise their penchant for clashing print or double denim.

Conservatives within the fashion world may dismiss street style as part of the growing “circus” around the shows, but its leaders can translate an image into big rewards; from ambassador deals with brands and paid-for posts on social media to own clothing ranges and brand collaborations. The rise in street style has even sparked a wider trend in “real people”-led advertising. J Crew kicked things off in 2012 with a campaign starring Caroline Issa (chief executive and fashion director of Tank magazine), stylist Julia Sarr-Jamois and French journalist Virginie Mouzat. Last year, “Tod’s Band” campaign featured 15 personalities and fashion show regulars including Langley Fox Hemingway, Mae Lapres and Julia Restoin Roitfeld, while Chloé is currently popularising its bags and accessories on social media with the hashtag #ChloeGirls. Peacocking has never been so profitable.

It’s not only the street stars who are cashing in. Many of the photographers shooting the styles have turned their images into a viable business, among them Tommy Ton (who has shot for Condé Nast and his own site, tommyton.com), Scott Schuman of The Sartorialist blog turned book, Vogue contributing editor Phil Oh (aka Street Peeper) and Adam Katz Sinding of Le 21ème.