With a 1.6 percent decline in retail sales in January and 27.6 percent fall in the U.S. luxury fashion segment sales, it is no surprise that the recession has affected New York’s fashion week. This eight-day affair, with an expected attendance of 116,000 people, has experienced drastic cuts in all areas of the event. Not only have designers reduced their guest lists, but some have opted out of the show entirely.
How will the economic crisis affect the fashion industry? I went to the Jill Stuart fashion show to find out.