The recession is boring, lets buy new shoes and throw them in the lake
We all by now know the horrors of the recession, low consumer spending, mortgages being disallowed and a general feeling of uncertainty for those with actual jobs and financial commitments.
But things are looking up apparently, as reported in the The Sunday Times, and surprisingly it’s the luxury british brand, Burberry who are being predicted to do well from this, the-worst-recession-since-records-began situation.
Due to the newly expanding market in the Middle East and their excellent marketing strategy which has kept it on the backs of celebrities and on the arms of everyone else, Burberry’s shares have increases by 149% this year and is predicted to continue to grow.
This however begs the question, If Burberry can get it right in such a tough global economy, how come the likes of Yohji Yamamoto and Christian Lacroix who have both filed for bankruptcy this year, cannot? Does an unwavering creative vision and not enough advertising, or a niche clientele automatically lead to failure in these times.
Photo Credit: SwimmingPlaces/ Flickr
Yamamoto, who has amassed debts of $67 million, was noted to have cut back for his spring/summer 10 collection, showing what some have said to be somewhat more commercial than his usual offerings, to a smaller number of people. It will also be interesting to see how this now impacts the longstanding Y-3 range, in collaboration with Adidas and others including a luggage line with Mandarina Duck, and pavement stomping boots at Dr Martens.
It would be a shame to lose a designer with such a rich history and influential style, but I guess fashion is a business at the end of the day and monochrome collections come with a hefty cost.