Finally, some good news. If you have a subscription to WWD, you probably wake up every day to another company reporting negative profits. After months and months, it's quite the downer. True, rock-hard luxury companies like Louis Vuitton are keeping afloat, but how is everyone else doing? WWD surveyed top designers and retail executives, and the outlook was overly optimistic. If you need a pick-me-up or just want to be enlightened, check out my favorite quotes from the article.
Michael Kors: “The good news is in this crazy, terrible economy, I think people’s taste is getting better. They have to think about what they buy and they’re getting a more discerning eye because of it. There are no more shoes you can’t walk in, bags you can’t carry, dresses you can’t sit in. All of that’s finished. It’s like the beginning of Gone With the Wind, ‘This is about a time long, long ago.’ The handbag that’s so heavy I can’t lift it, the shoe I can’t get out of a car in, the dress I have to lean in — those are memories from a time that’s gone with the wind."
Karl Lagerfeld: "You have to have something very quality and fashion at the same time, and the names are the guarantee of all that. That’s why big names are important. That’s why it might be more difficult for smaller companies. Also, Chanel is beautifully run as a company. There are no debts. There’s no healthier business than Chanel."