fashion business vs industry

fashion business and industry both are nouns.

Word	Noun	Adjective	Verb	Adverb
fashion business	Yes	No	No	No
industry	Yes	No	No	No

As nouns, industry is a hypernym of fashion business; that is, industry is a word with a broader meaning than fashion business:

fashion business: makers and sellers of fashionable clothing
industry: the people or companies engaged in a particular kind of commercial enterprise

fashion business (noun)	industry (noun)
makers and sellers of fashionable clothing	the organized action of making of goods and services for sale
	persevering determination to perform a task
	the people or companies engaged in a particular kind of commercial enterprise