Of course. It's one of the reasons why there are so many greater varieties and styles of girls clothes and accessories. And the media plays a role. Guys look at your clothes. When something you're wearing catches a guy's attention he will examine it closely.
Yes I do notice what women wear. Especially if she is wearing my two favourite types of pants that I like a girl to wear which are tight jeans or tight faux leather pants. If there is a brand name on them I will notice that to. I notice what girls wear a lot. I notice women's shoes as well as all the clothes she is wearing to.