Bad economy hits fashion industry

Versace announced Wednesday that it has decided to close all of its boutiques in Japan, saying that the stores no longer represent the brand image.

In a statement Wednesday the company said the closings are part of a grander plan and that the brand is looking for new locations. However, publications like the Wall Street Journal say the luxury market is beginning to lose its appeal.

I attribute this to how the bad economy is globally affecting the fashion industry. So far it has seemed that the high fashion portion of the industry has been spared, but these conspicuous closings tend to allude to the greater problem of a world-wide recession. What are your thoughts? I think if high fashion brands like Versace are experiencing lack of  interest, then that doesn’t bode well for the rest of us!

Versace’s “Glow Sticks”

Versace-Fall-Fashion-2009-033_runway Versace-Fall-Fashion-2009-032_runway Versace-Fall-Fashion-2009-036_runway

Images from elle.com

Donatella Versace’s new collection definitely made its mark on the runway for the Fall 2009 shows.  Versace incorporated shocking hot pinks, fiery reds, and flashing oranges among her stunning and classic black, metallic, and gray pieces.  While full neon dresses and gowns are normally considered ’80’s, Versace cleverly omitted jewelry and embellishments – leaving a clean and modern piece that cannot be mistaken as a vintage dress someone pulled out of their closet.  The thin models graced the runway with fierce dark eye makeup and slicked back hair – adding to the intensity of each Glowing ensemble.