In an article on ”Luxury’s Road Ahead,” Karl Lagerfeld said an “obsession” with extreme fashion statements is likely to ebb and that the term “commercial” might cease to carry a stylistic stigma. Will the current condition of the economy, and the possibility of a number of tough years ahead, make fashion more down-to-earth, more rooted in reality than fantasy? And if so, will that rein in the creative instincts of designers? Or perhaps it is just what the fashion world needs to bridge the gap between style and substance. How do you think this ongoing tug-of-war will play out?

I lost my job in the fashion industry and was interviewed for HBO's new documentary: Schamatta: Rags to Riches to Rags.
I am in 3 different segments, including the trailer, which I have posted here.
In one segment I spoke about the sweatshops.
I hope that designers don't rein in their creative instincts.
What I do hope for are manufacturers bringing back garments made in New York, of quality at a realisitc price point.
If the industry wishes to turn itself around all it will take is one manufacturer to accomplish this successfully ~ and the others will follow suit.

According to a survey released June 3, 2009 by New York based Abrams Research “A smaller, stronger core of luxury - and fashion-forward - firms is likely to emerge from the recession”. The market is saturated with so many "me too" brands, and brands which were not offering true luxury products that I believe we will continue to see some "weeding out" as we plow through this recession. We will likely see more brands that will simply go way. One of the most defining characteristics of true luxury product is its rarity, or the perception of exclusivity. The challenge for brands will be maintaining their cache' while reaching out to new consumers through more commercial product offerings.

I agree with Mr. Lagerfeld that there will most likely be a shift to more wearable fashion, however fashion still needs a point of view. I believe that design in itself is strategic, and it was evident during September's fashion shows that some designers' were strategically showcasing more wearable collections. Some designers did a brilliant job of showing more wearable fashion without sacrificing their stylistic edge; Christopher Bailey's collection for Burberry Prorsum addressed the new luxury customer by offering a collection which was very commercial, yet he managed to maintain a distinctive point of view. Rick Owens is edgy, however his clothing is really very wearable. Nicolas Guesquire for Balenciaga was another designer who seems to completely get it; "There are cocktail dresses everywhere," Mr. Ghesquière said. "I am asking, who are these women who go to cocktails all the time?"

Certainly, there will be an economic recovery (I predict within the next 18 months), however the new luxury consumer is young. The young consumer "thinks different". Designing fashion for the "ladies who lunch" and their frivolous ball gowns has become as passe as the "bling" trend. This shift was already in place before the recession.

There will also be plenty of room for new brands who have something innovative to offer. The playing field has been leveled in this recession and as a result, there will be plenty of opportunity for emerging talent.

I also agree with Heather's comment regarding quality, and the perception of value in the minds of consumers, especially in the US. There is a vast difference in European craftsmanship vs. products which are mass produced in China. Luxury brands also need to quit playing games. Stitching part of their product in China, only to later ship it to Italy for final production so they can legally stamp "made in Italy" on the label will untimately cost them dearly. Just try selling made in China products to consumers in newer luxury markets like Hong Kong, or Singapore.

Another observation is that the fashion cycle needs to slow down. As consumers are redefining fashion in terms of wearability, they also need to be confident knowing their investments are not going to be obsolete the following season. Brands such as Bottega Veneta, and Hermes have weathered the recession remarkably well. There is something to be said for designing products that never really go out of fashion.

What Mr. Lagerfeld is saying has been the core of the Chanel house since he arrived there, keeping the design fresh and young without loosing himself in a fashion stravaganza of unwearable clothes, and so many are following the same steps of refreshing their classics, of designing quality oriented garments which can be worn not only for one season, we are at the point where we are being giving more options in how to wear clothes in not just way, which gives luxury items a ceartain rentability.
Besides many designer firms have for long been kind of preaparing for a downturn, bulding less expensive lines but without loosing the design factor which is very important.
The fact is that at the moment less is more, and high and low have to be thrown together in the mix in order to keep the industry going, and taking a real tough look at what your client needs are is the key.
Events like Fashion´s Night Out are a great way of bringing people back to the stores, ideas like this have to be pushed forward, we are not in a moment of just sitting tight, we have to seduce the clients with a little bit more....
rosina

Thanks for the comments from Maryannemanhattan. Informing and educating the consumer is where we need to go as well. I agree we have to bring back top quality production to American shores.