Fashion designer Anna Sui thinks the industry is overdue for a reckoning, in terms of diversity.

"This is the moment for black designers and companies to step up. The curtains are open. Go for it," Sui said on the Glossy Podcast.

Though not equivalent to the black experience, Sui's childhood was filled with dreams to become a designer despite not seeing anyone who looked like her at the forefront of the biggest labels, she said. "I came from the suburbs of Detroit. At the time when I started designing, there really weren't other Chinese designers."

Now Sui's main collection is sold in 50 Anna Sui boutiques across eight countries and over 300 retailers globally.

"In China, I'm more known for my lipstick and my perfume than I am for my fashion," Sui said, noting the contrast to the U.S. market.

And in the states, she said, a fashion shakeup is looming.

"We've drifted into this minimal look before -- this almost uniform look. Business usually gets bad during that period. Then, all of a sudden, something more embellished will look good," Sui said. "It's like a pendulum. Whatever is in right now, the opposite is what's going to make people excited and think, 'That's the next big thing.'"