The prevailing style or custom, as in dress or behavior: out of fashion.
Something, such as a garment, that is in the current mode: a swimsuit that is the latest fashion.
The style characteristic of the social elite: a man of fashion.
I didn't realise how much thought goes into this until the last night when I had the pleasure of attending a focus group geared towards determining microcosmic nuances in fashion for sports brand UMBRO.