With the flailing about of the US economy, recession materializing and US people scared to be more materialistic, high fashion is tailoring to a new market.
Russian references at various fashion houses, Asian school girl short skirts, injection of asian models on the runway, modern Kimono structure, and asian prints and colors. Gucci, Dior, Chanel are the major houses that is pioneering this movement. Other will follow, which will be seen in other collection for Fall 2008, and other smaller ones will most likely follow suit for Spring 2009.
Millionaires and billionaires are popping up like a strand of super chicken pox and measles in the east, mainly India, Russia and China. I used a viral disease because it also seems contagious, the increase in individual wealth and increase in number of those individuals. Most of them are silent and less flamboyant than those in the west. Asian women and those in the east are appearing more in not just the runway, but the audience. A prime example is the latest Chanel Couture show. Devon Aoki closing a show is not a coincidence, it's strategic marketing ploy to attract more Asian women to be interested in Chanel.
There's a shift in global interest. There has been an exponential grow of interest in Asian art and travel. Economic wise, China has had a new government change where a younger generation is coming in place. A generation that is more knowledgeable and up-to-date with global issues. China's economist rivals Greenspan and Bernanke. South Korea, a somewhat overlooked country is starting to wake up. There's just A LOT of activity in the east and everything is reflecting that. There's a new toy, the east, for everyone to play with, which is what is happening in shifting interest.
I'll write more about this but just wanted to share what I thought was interesting in the effect of global economy on the fashion industry.
To be continue...