The fashion industry is being forced to change direction in search of revenue sources to make up for the millions in Wall Street bonuses that have gone up in smoke. With Western economies mired in a financial crisis, all eyes are turning to Brazil, Russia, India and China – the BRIC economies, with an growing middle class that is developing an appetite for luxury. To capture these markets, brands must first spend thousands of dollars on high-profile catwalk shows that will generate acres of press coverage.

“Companies are hedging their bets by making certain that their sales are going up in the new markets,” fashion editor of London’s Daily Telegraph Hilary Alexander said. “The Russian clients, the Indian clients, the Middle Eastern clients – they want glamour, they want pizzaz.”

Fashion Group International creative director Marylou Luther predicted the economic uncertainty would actually lead to a fashion boom. “After every upheaval fashion flourishes,” she said.  ”Fashion is fearless here and will not cower under the pressure of economic doomsayers.”

Vice-president for America’s massive Macy’s department store chain Nicole Fischelis said designers are being pressured to be different. “It has been proven that these are the fashion pieces that sell first,” she said. “During hard economic times, designers must appeal to women on an emotional level. If they feel they already own something they won’t be encouraged to buy.”

French luxury brand Hermes yesterday drew on the selling power of the original supermodels by using from ’90s stars Naomi Campbell and Stephanie Seymour to headline their Far West themed show.

Campbell, wearing a black gypsy dress, closed the show by tossing her straw hat into the audience.

Front row guests included British actress Jane Birkin, who famously designed the Birkin bag, which has become a global byword for luxury. Hermes donates a portion of its profits to charity on her behalf. “They give a certain amount of money per year to the things I care about most, and that’s really precious,” Birkin said. Later on, John Galliano’s models paraded in Marie Antoinette wigs – the pendulum swinging back to slick commercialism.

(article: Daily Telegraph)

• Love, Lust and Conspiracy – Chapter Two * 2 * Fear and Euphoria "Shush, stay in bed and sleep," said Kari the next morning.  "I'm going to shower and order breakfast."  She kissed my hand, smiled and walked away and all I could think was; she's awesome!...
• American Women Turning To Adult Entertainment As a bartender and trainer at a national restaurant chain, Rebecca Brown earned a couple thousand dollars in a really good week. Now, as a dancer at Chicago's Pink Monkey gentleman's club, she makes almost that much in one good...

• What is the single most important initiative that the next administration should undertake to improve the economic health of the U.S. middle class? Synchroblog #1 I am participating in the first ever (well at least to my knowledge) Synchroblog associated with the personal finance realm.  I couldn't find a good definition of a Synchroblog so I am going to make one up, A Synchroblog is...
• Grease Payments: Buying Time All I've been hearing about on the news lately is stuff about oil in the gulf and a bailout of Greece. I thought I'd talk about a different kind of grease, the oily kind. So my idea to move the...