Not many will make it out. That's what I keep hearing. Survival of the fittest. Pretty dang scary.
-Saks laying off almost 10% of the work force.
-Macy's gonna shut down 11 stores.
-LVMH pulls the plug on eluxury.com
-Neiman Marcus taps into $700 million bond and lays off 3% of work force
-Lisa Kline, Ron Herman, & Sergio Rossi looking to sublease retail stores
-Kira Plastina closed all their US stores
-Retailers asking to buy on consignment and already marking down Spring 09
-Louis Vuitton cancels flagship store in Tokyo
-NY Fashion Week scaled back with designers opting out
-LA Fashion Week gone
Read all these headline on ThreadMe News
So with the collapse of the retail market and the slow recovery of the credit market, it sounds like the fashion industry is going into a nucleur holocaust and everyone's going to be living in caves pretty soon, or dressing like cave men and women again.
I'm sure creativity has been stiffened for Fall 09 and Spring 10. So who's gonna pick up the pieces when this is all done and over with. Who will persevere and in the words of our out-going president, "stay the course." Will this give rise to a new era of fashion? What do you think?