NY is feelin really creepy right now, strangely quiet. You can almost hear the tick-tock of the clock while everyone waits to see what the future has in store for them. As I watch the stocks on CNN I am also watching the shows in Milan, because that is actually my job.
Between the Ferre and Armani shows I try to figure out when this big crash will effect the fashion industry. The shows I just reviewed last week were for Spring 09 (Feb-May of 2009) so most likely the buyers of this collection are going to play it safe. Since Fall 08 is already in stores (don't you want to buy a fur coat?) and has been since August, I think the Resort/Holiday collection (Oct 2008-Feb 2009) is going to be hit hard. These collections are for the holiday parties and winter vacations...not sure these will be priorities come December so expect major sales. The designers have already made the Spring collections, it's not as though they can change anything at this point. And what sort of changes will happen to their Summer or Pre-Fall designs? No buttons, short skirts, no lining, burlap sacks?
Fashion Magazines are luxury goods and they are going to feel a hit from this as well--how do you convince readers to buy $1000 shoes? How do you keep your advertisers happy? I think by next Spring one or more major Fashion magazine will probably fold, which is a loss for the readers that desire more diversity on the magazine racks. Soon its gonna be just the big guys that can live through what seems like a recession to me.
Comments