Fashion Vs. Style

What is fashion? Does it simply exemplify the appearances of clothing, or is it an appearance that varies from culture to culture?  If so does this culture then lead on to the style of others? 

I found myself wondering the streets of Soho, wondering to myself who is actually fashionable? I mean, is it the girl who wears all designer outfits; carries a Chanel quilted chain bag, shops in Harrods and wouldn't dare to walk into a vintage shop, let alone a charity shop? or is it the girl who attempts to be "cool" in front of her friends, smoking and wearing what seems to be a vintage band t-shirt. Who just so happens to be holding a beyond retro bag, containing what could be more vintage garments?

I mean in my opinion, both come across to be fashionable, but in their own ways...so how can we label someone and say they are fashionable, if fashion varies from one person to another? Or are they both fashionable, yet their styles vary and this is what creates a stylish person...? 

So we've got it... Fashion Vs. Style? Are you fashionable or stylish? Either way, does it make a difference?