"ANOTHER ONE BITES THE DUST"

With the economy crisis, everyone is effected, especially the multi-billion dollar fashion industry (including a designer friend of ours who had the shaggy carpet of investors pulled out from under him and had to cancel his show). With Fashion Week just around the corner, many prominent designers are cutting back on expenses and presenting in alternate spaces. Venues at the Bryant
Park tents cost between $25,000 and $50,000, plus there is the cost of models, invitations, show producers, etc. Renowned designers Betsey Johnson, Donna Karen, and Vera Wang opted to forgo their lavish runway productions at Bryant Park this season. Marc Jacobs cut his show guest list by nearly half and cancelled his fabulous Fashion Week after-party.

While most are slashing their budgets, young talent this season may reap the benefits. Retailers will be hunting for new and fresh styles that have the potential to bring customers back into stores!