The global economy has taken its' toll on the fashion marketplace. High end retailers are offering deep discounts on luxury goods and many designers are anticipating the crunch.
Betsey Johnson and Carmen Marc Valvo announced that neither of them would produce runway shows at Bryant Park next season. Donna Karan, Francisco Costa, and Vera Wang are considering following suit, while Zac Posen has delayed the launch of his menswear collection.
In Paris, things aren't sounding much better. In an effort to cut costs, Fendi, Valentino, and Marni don't plan to present menswear collections either.
LA Fashion Week won't be taking place at Smashbox Studios (this isn't a surprise) and the semi-replacement "Reveal" has been postponed. However, BOXeight plans to increase the number of designers that present in their space downtown.
