Friday, January 22, 2010

Financial Fashion: When the fashion Scene meets the Financial Crisis



Does recession mean regression when it comes to trend and style?

The crisis has taken its toll on most countries of the world and has made life a little bit harder for many. However, confidence that the crisis is winding down has been mounting for the last couple of months and economists claim that “the worst of the credit squeeze is probably over, according to The N.Y times´ article “Is the crisis over?”. However, in what ways has the crisis affected the fashion scene, and did the trends actually adapt to the crisis this last seasons or did they remain unaffected?
These are some of the questions I will try to answer in this blog post. This topic especially interests me as it is does not solely concern fashion but also human behaviour, and the way these two can be linked.

Should we have suspected that the fashion world would “slow down”, that we would use more of last season’s items, that we could content ourselves with looking like we did a year ago?
No. Fashion, as all arts, is in constantly change, constantly renewing itself and changing its shape, and I believe that it is not what the newspapers says about tomorrow’s crisis that will affect it. The link is not as direct as people may imagine. Fashion does not reflect the economic mood as designers and fashion people live in their own creative space, usually unaffected by the newspaper or late night news. However one thing I am sure of, is the fact that fashionistas will not change their way of behaving and their relationship to fashion, they will simply decrease it. So instead of buying 3 pairs of Mulberry bags, they will buy one. The crisis is not linked to the designers but to the consumer. As it is the designers that will decide what the new trend is, and as these ones remain untouched by the crisis, consumers will to some extend also feel untouched when it comes to this season’s style trends.

Many would’ve expected there to be more second hand shopping, more purchase of basic items and for there to be a “regression” in trends during the recession, back to last years fashion. However, this did not happen. The Fashion Industry did to some extend exploit the fact that there was a crisis. The new must haves were suddenly items reminding of the great wars and the 1929´ Wall Street crash, bringing back fashion from the older days. Khaki green and military green, cream and light brown were important colours, together with accessories to make your outfit stretch for many occasions.
So to say, the crisis did not make the trends regress by one or two years, but with a least a decade, taking us back to the 30´s. This point can also be reflected in hairstyles “of the recession”, with bobs being very popular and short hair being in style again. More old fashioned hairdos such as braded hair have also been in style and still are.
The trench coat, both for men and women, is predicted to be a must have in 2010, also an item that reflects that Great Wars as these ones were first made by Burberry and used by soldiers in the trenches, thus the name “trench coat”.

In conclusion, what we can notice of the way the Fashion Industry has reacted to the Crisis is that instead of seeing it as a recession in the economy and the spending, they’ve used it as a reason for new trends. No futuristic fashion trends have appeared nor do we see any return of the fluorescent colours from the year 2000, but a more “sustainable and basic” fashion has entered the scene. Pleasing both the fashionista and the economist.

Pictures:

Up/left: From Elmer Ave, Right: Wunderkind during Paris Fashion week.
Down/left:Katie Holmes with Bob haircut, Right: Mary-Kate Olsen with Brades hairdo.

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