Is Fashion Recession Proof?
26 Feb
The stalling economy has had a significant effect on the high street with high profile stores closing as consumer spending being reduced. At times like this you would expect those selling non essential goods to be restrained but the major fashion houses aren’t known for their restraint.
New York Fashion Week featured the combination of dependable traditional items (to wear this season and next) with bursts of bright colours, perhaps designed to combat negativity. London Fashion Week was apparently a cheerful affair also with street photographers more interested in the outfits of those in the front row than on the catwalk.
It is likely to be the high street shops which copy high fashion for the masses who will suffer as people try to reduce their outgoings. Those who are able to afford luxury handbags aren’t hit as hard by the recession, that’s the theory at least. So while luxury gifts are still selling its the cheap copies with small margins which are hit worst.
Paul Smith has offered advice on how to recession proof your wardrobe including the suggestion that you “cheer yourself up with a scarf or a sock, a tie or a belt, adding to your existing look, rather than changing your entire wardrobe.”
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