Layer Styles work in exactly the same way as Text Styles . The only difference is that they work with shape layers, while Text Styles work with text layers.
To create a Layer Style, select a shape Layer that you’ve applied styles to, then choose Layer > Create new Layer Style from the menu. Alternatively, open the Components View and choose / Create Layer Style from the toolbar. Editing and applying Layer Styles follows the exact same process as Text Styles.
How to insert a Text or Layer style as a new layer
Inserting a Text or Layer style as a new layer via the Insert Window
You can insert a Text or Layer Style as a new layer using the Insert Window. Press C to open the Insert window or choose Window›Insert in the Insert menu . Select the Layer or Text Styles tab. Then, choose or search for the style you are looking for. Drag and drop onto the Canvas to create a new layer.
Inserting a Text or Layer Style as a new layer via the Components View
To insert a Layer Style or Text Style from the Components View, select the component you want to insert as a new layer and click on Insert Shape with Style or Insert Text with Styles in the Inspector.
You can also choose Insert in the toolbar and select the Text Style or Layer Style you want to use. Then click anywhere on your Canvas to insert the new text or shape layer.