Small Fashion Labels Hit Hard
February 10th, 2009 by Nubby
For New York Fashion Week, at least half of the 200 labels that are showing have been around less than 10 years, with a quarter being less than five years old.
Though, the seemingly endless wave of fresh and brilliant new fashion talent may be slowing down. The economic downturn has many stores cutting fall orders by an average of 20% and smaller designers without financial backing are bracing for a turbulent year.
The New York Times reports that the fallout could be even more severe after Fashion Week has wrapped. Once the fall orders have been placed, it will be clear who survives (and who does not). The more stores that close, the more labels will fold.
In these trying times, designers are feeling the burden of small stores and boutiques who are taking twice or even three times as long to pay for their orders. Even worse, some stores that have gone out of business are leaving behind clothes that were ordered and produced, but never paid for.
To cut corners this year, designers are upping cost-cutting measures that include bypassing runway shows for more intimate showroom gatherings, using fabrics stockpiled from previous seasons and sharing pattern makers. The cuts and closures are mounting with no end in sight….
