When Nordic women are the western beauty standard, women of other ethnicities will try to achieve said beauty standard whether it be through hair straightening, make up unfitting to darker skin, skin bleaching, dying of hair, etc. This is not to say these things are always done to achieve a more eurocentric look; many people simply prefer certain aesthetics over others.
Also, generally speaking, black women with eurocentric features (small nose bridge, thinner lips, thinner nose, vertical facial proportions, kinky/straight hair) are promoted over black women with afrocentric features (wide nose bridge, big lips, wider nose, high cheek bones, horizontal facial proportions, nappy/natural hair).
Although beautiful, this is not the preferred aesthetic within the west.
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I see eurocentric black women as "white women dipped in chocolate", this image best illustrates what I mean.
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Occasionally you'll find a general societal preference for lighter skin, mulatoo women over black women, though it isn't absolute.
To answer your question, no. The fashion world is not racist, it's simply a matter of beauty standards and social conditioning to have a preference for certain aesthetics.
