Fashion Recession

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."

To read what Marc Jacobs, Rachel Roy, Givenchy's CEO, and more are happy about, read more

During dismal economic times, designer collaborations are the way to go. “We’re definitely going to see a lot more of these high-low marriages,” said Valerie Steele, of the Museum at the Fashion Institute of Technology. “People are going to want a lot of fashion for their buck.” With that said, now is the time to nab a creation from your favorite high-end designer for a fraction of the price.

For example, J Brand has teamed up with Hussein Chalayan to create an exclusive denim line. “The opportunity to work with Hussein brings both brands to another level,” said Suzy Crippen, of J Brand. “It is all about business. The business of making something beautiful, a collector’s item you can afford, like a cheap Picasso.” Affordable designer goodies? That's always been the Fab way to go . . .

For a list of upcoming designer collaborations, read more

Coach is responding to the tough economic times with a new budget-friendly line named Poppy. Like the name, Poppy is a fresher, more youthful collection of footwear, handbags, and accessories compared to its namesake line. The best part? Lower price points. “Poppy offers a different attitude that is younger in spirit,” said executive creative director, Reed Krakoff. It’s playful, with more prints, interesting fabrics and more experimentation."

The Poppy line, ranging from $198 to $598, will include a whimsical array of tiaras, pochettes, footwear, watches, eyewear, and even select apparel items. The collection debuts in July in stores and online at Coach.com. Fun!

To see more from the Poppy collection, read more

Third time doesn't need to be a charm for Nina Garcia and her beloved book series. Alas, she's giving us more of what we love with a book aimed at today's economically challenged times. The book, titled The Style Strategy: A Less Is More Approach to Staying Chic and Shopping Smart, is destined to offer insight during a fashion recession. Due out in August, and Ruben Toledo will once again lend his illustration skills. After The One Hundred, where yours truly had a cameo, and Nina Garcia's Little Black Book of Style, this one will move to the top of our reading list.

And while we're sort of on the subject . . . Project Runway season five has wrapped. Taking place in LA this time around, the finale show is on the New York Fashion Week schedule in its Friday 9 a.m. time slot. Where and when the new season will air is still in the air, heh, but supposedly the finale show will happen. You may recall, in previous seasons, a handful of contestants show to serve as a decoy so as not to reveal the real winner. But this time, who is presenting will be a secret. So, not only do we not know when and if PR will air, but we'll have no idea who designed what. Confusing much?

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We can always count on Karl Lagerfeld to entertain us with his cheeky comments. The designer recently defended fur and now he's speaking out about high fashion. "It's great to see things you may not buy — because you don't have the money — but it is very ugly to think they shouldn't exist because you cannot buy them," he said. "I can be interested in a $20 million diamond I will never buy, without desiring the diamond. If you want only things you can afford, it's boring too." He has a point; we live for runway shows but can't afford most of the pieces. But do you think it's insensitive of him to make this statement in the midst of a recession?

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Net-A-Porter founder Natalie Massenet is set to debut an online designer outlet dubbed theOutnet.com come April. "It is going to be a silver lining of the recession. Women have got used to discounts," said Massenet. "Sale shopping can be grubby but this will be quite chic." The site will stock top designer brands such as Christian Louboutin, Marc Jacobsn, and Stella McCartney, priced up to a whopping 80 percent off. So what are you waiting for? Sign up for updates at www.theoutnet.com.

Saks Fifth Avenue is one of our favorite online stores, but it's been experiencing major economic woes.

In November, the luxury retailer reported “widespread weakness” with a net loss of $42.8 million. Today, the luxury retailer announced it will be closing shop on all but two of its bridal salons. The two bridal salons left standing will be the New York flagship and the Beverly Hills store. All other locations are set to close sometime next year. Saks will start marking down its bridal collections — which includes designs from the likes of Carolina Herrera, Jenny Packham, Monique Lhuillier , and Oscar de la Renta — in January — future brides take note!

On the flip side, Neiman Marcus reported a $12.9 million profit this quarter. Both retailers seem similar so we wonder why one's doing much better than the other. Care to enlighten us?

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No longer will we have to admire Doo-Ri's delicate creations from afar. Following in the footsteps of Zac Posen, Doo-Ri Chung has announced a diffusion line slated to launch next year.

“I have been thinking about this for a really long time,” said Chung. “Within my own collection there is a great need to have a wider price range. A second line allows me to do that."

The diffusion line will feature Doo-Ri's signatures patterns, cuts, and draping. Look forward to a cool collection of leather jackets, leather leggings, silk-screened tees, and jersey dresses. Wholesale prices will range from $80 for a top to $475 for a leather jacket.

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