Sunday, December 21, 2008

Fashion Suffers Bad Markets

If you were hoping to catch the Chanel Mobil Art Exhibit in London, Paris or Moscow, sorry to disapoint in a moved relating to the crumbling of the global economy, New York's showing ending last month will now be the stopping point of the costly endeavor.

A Chanel spokeswoman told WWD, "Considering the current economic crisis, we decided it was best to stop the project. We will be concentrating on strategic growth investments."

This is yet another reflection of how bad things are getting in the fashion industry as countless labels are now canceling their Bryant Park runway shows in favors of presentations and small parties. DKNY, Vera Wang, Carmen Marc Valvo and Betsey Johnson will not be showing at Bryant Park. J. Mendel, Monique Lhuillier and Reem Acra are also considering other options for February.

On the plus side, much at Barney's is now 75% Off! If you're above the economy and have money to spend, now is the time to do it.

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