Learning From the the Mico and Macro Tugs on the Fashion Industry
Getting ready for our Fashion and Finance Retreat, I’m paying attention to who’s saying what about fashion. So Vera Wang got my attention this week when she said:
“In my 40 years in fashion, I’ve never seen women scared to shop — at all price levels.” [Vera sells dresses at $2000 a pop, as well as a line for Kohls that offers dresses closer to $100 and under.] “I don’t know what’s going to happen,” she said, referring to the future of prestigious labels.
The tension between the micro-economics of fashion (smart consumers rethinking their spending priorities) and the macro-economics of the industry (jobs, creativity, leadership, profits, etc.) is causing tremors in the world of fashion. The size of the earthquake–and what it means to both consumers and investors will be one of the topics covered at the Retreat Oct. 9-11. I hope you’re as excited about it as we are.