A Yahoo News story picked up an interesting angle on the trend show noting that sales of Italian fashion are forecast to be down 5.2% in 2012, which will mark a slowdown for the $79.59 billion/yr. fashion industry.
Top designers, such as the aforementioned Armani and Prada, should weather the storm “almost unscathed” however smaller design shops have to be creative to avoid heavy losses.
“We need to be innovative, because people who buy fashion have their wardrobes full, so they want something different,” says niche designer Alessandro Dell’Acqua.
Fashion sales within Europe are expected to decline this year, but exports outside of the European Union are forecast to grow two percent. Hopefully the recovering American economy will be enough to offset the lack of Euro Zone funds.
Photo Credit: Renjith Krishnan