Pantone, the global authority on color has just made it’s annual selection for the color of the year and it is…drum roll please….“Radiant Orchid!

A tone of purple incorporating fuchsia and pink undertones, Pantone describes Radiant Orchid as a color that, “…inspires confidence and emanates great joy, love and health. It is a captivating purple, one that draws you in with its beguiling charm.”

While the choice is seemingly arbitrary, there is actually quite a bit of work that goes into the selection. According to the company, its team reviews color trends across the globe in the entertainment industry, technological developments, new artists and collections, travel destinations and even sporting events. The annual color selection is significant, as it will be incorporated into a variety of industries including fashion, beauty and interior design – so expect to see it on the runways, HGTV and even your local Target.

The color choice has historically influenced product development and purchasing decisions in multiple industries, including those above as well as industrial design product packaging and graphic design.

Here’s to making 2014 as Radiant as this color!