The first item in the Museum's collection of textile and fashion arts was an Irish embroidery purchased in 1888. Today, the collection comprises approximately 6,000 items and represents virtually all of the world's traditions in fabric. Major collecting in this area began in 1906 with the purchase of 100 Chinese textiles and costumes.

Among the items from Asia in the collection are textiles and costumes from China; kimonos and Buddhist robes from Japan; Kashmir shawls and ceremonial furnishings from India; and a large group of textiles from Indonesia. West and Central Asian holdings include rugs and kilims from Iran, Ottoman embroideries from Turkey and costumes and furnishing textiles from Turkmenistan and Uzbekistan. In 1996 the Museum received a gift of 65 Baluchi rugs and other weavings, a collection assembled over many years by the late Colonel Jeff W. Boucher. African textile arts are represented by textiles and costumes from throughout sub-Saharan Africa, as well as by rugs, costumes and embroideries from Morocco.

The American and European textile holdings feature silks from the late 16th to 19th centuries, a lace collection spanning 500 years, a large group of 19th-century paisley shawls from England and many fine Indiana quilts and coverlets. The IMA also has European costumes dating from the 18th to the 20th century and fashion arts of the 20th and 21st centuries. Norell, Bill Blass and Halston as well as European fashion designers such as Dior, Balenciaga and Chanel are represented.