There are two types of wealthy people. Those who go on reality television to show off their private jets and bling and Caribbean estates. And then there are rich people who are also cheapskates, and won’t spend money on peculiar things, like clothes. (Come to think of it, Daddy Warbucks did wear pretty much the same outfit every day.) Or so it seems, according to surprising new research about where they shop. Check out the full infographic after the jump. Keep reading »
When the economy hit its first slump, the fashion industry became one of the many lenses through which we measured the damage. So, it’s only natural to gauge the recession’s overall improvement by monitoring positive changes in the fashion world. Today, The New York Times asserts that a resurgence of bright, bold clothing is a tell-tale sign that the economy is recovering.
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The fashion industry might be speeding straight into an iceberg à la the Titanic, but apparently there’s one consumer market that’s beginning to thrive in this crappy economy: luxury guns. Gunmaker Purdey & Sons is responding to this by increased production on a new model, which is described as “entry level.” From a Bloomberg report on the company’s move, it kind of sounds like the people who stopped purchasing handbags are the ones now supporting the luxury weaponry industry: “Buyers today are young, fashionable and wealthy, whereas the gun buyers of the past were older gentlemen with less money to spend.”
Weird, right? Are you in the market for one of these bad boys? [Agenda Inc] Keep reading »
I don’t know what’s happened to me. I used to love shopping. Next to having sex, drinking, and eating great food with friends, shopping used to rank pretty high on my list of activities that make me happy.
And no, I was never one of those girls who “bought to fill the void” or anything like that. As a fashion lover, the biggest draw of hitting the boutiques was a satisfaction of being able to change my style with something simple. I never dumped huge amounts of money on clothes, but I definitely had patterns. Maybe one nice designer purchase every three to four months; one to three smaller things per month like tops, accessories, and sometimes shoes from places like Urban or Forever 21. I rarely bought out of necessity.
Now that’s not the case … Keep reading »
The fashion industry has been hard hit by the recession, and it looks like it may take some strategic political partnerships to find the path of recovery. After the collaborative efforts of Fashion’s Night Out, New York City mayor Michael Bloomberg is helping to launch another initiative to help stimulate the fashion economy. This time, it’s a designer contest which will begin next month, reports the Post: “The mayor will stage a competition to pick 12 up-and-coming designers for a new city-sponsored fashion ‘incubator’ facility. The project is aimed at helping New York attract young talent by providing cheap design space.” [NY Post]
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“Fashion trends speak volumes about the human condition and wordlessly point us towards the zeitgeist,” writes South Africa Times columnist Jacquie Myburgh. Huh? They do?
Ms. Myburgh, like many a fashion journalist, didn’t originally seek a career in the style world, acknowledging the frivolous-sounding nature of such work. She explains: “Telling your parents you want to go into fashion is right down there with acting and air hostessing on their list of favorites.” But, over the years, she’s come to understand its importance in society, when, especially in an economic downturn, our instincts are to shun conspicuous spending and get back to less “superficial” activities.
However, maybe we should start taking the fashion industry more seriously. Keep reading »
Kerry Coryell wanted a nice wedding, but she and fiancé Kurt VanDerLinde couldn’t afford the costly photographer, limo, DJ, and all the other expenses that are part of a fancy ceremony and reception. But it was her dream! So, Coryell put an ad on Craigslist offering to barter for goods and services she couldn’t afford. Since she had done this before (instead of paying money for $8,000 worth of dental work), she figured it was worth a try. Here’s an excerpt from her ad:
“I am not at all superficial and my clothes usually come from garage sales. I never ask for anything for myself … but this day … just this one day, I want it to be mine, without limits, without settling. I hope you can help me.”
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Luxury department store Neiman Marcus is really feeling the economic downturn. So much so that they’ve totally scaled back their annual “fantasy gift” catalogue to exclude seven- and eight-figure products. In the past, reports the Wall Street Journal, offerings included $10 million Zeppelins and an even more expensive submarine. This year, the recession has forced us to deal with the marked-down leftovers—an $8,500 preserved African Flower Beetle (ewwww); some six-figure, special-edition Jaguar (yawn); and a “literary experience” with an acclaimed author (bo-ring). And to think that in past years they offered trips to outer space! What are we going to get Granny for Christmas now? Keep reading »
There’s no doubt about it. Getting laid off sucks. What happens next is the stereotypical lifestyle of depression, daytime television and sweatpants. This may be fine for a week or two, but after a while you will start to go crazy and feel disgusting.
We would never say, “Hey! Awesome! You lost your job!” Though, we do believe you can get something out of this time of unemployment for yourself. And if you look on the bright side, believe it or not, you might find yourself looking a whole lot hotter. After the jump, check out our suggestions. Keep reading »