Because fashion leadership among women is of great interest to clothing researchers and retailers alike, much effort has been devoted to studying the demographic characteristics of women who can be identified as fashion leaders. Although demographic data provide valuable information, demographics alone give little insight into the forces that motivate women to become fashion leaders. Beyond demographic factors, personal and social values have been argued to have an important influence on the strength and direction of consumer behavior. Few studies, however, have attempted to reveal the social values of fashion leaders. Our study examines the relationships between fashion leadership and the nine social values measured by Kahle's List of Values. Data from 248 women whose ages ranged from 16 to 85 years confirmed that younger women are more likely to be fashion leaders and that level of education and income are unrelated to fashion leadership. Fashion leaders were also found to be more active in fashion-related behaviors (spending for clothing, reading fashion magazines, spending time shopping, buying new fashion items). Finally, fashion leadership was associated with the social values of excitement and fun/enjoyment in life. The study suggests ways this knowledge about values can be incorporated into marketing and retail strategies.