Recession fails to hit fashion industry

Mumbai: Recession seems to have gone for a catwalk as far as the ongoing Lakme Fashion Week is concerned. Though the economic slowdown may have made buyers more cautious but it hasn't hurt the numbers.

Compared to 185 buyers for LFW's Spring Summer show in October last year, the event has 226 buyers this time.

But of course the big question is that are the buyers at the fashion show to have a look or to actually buy.

Some of the buyers however say that they are at the show to do more than just take a look at the new arrivals.

“We are opening an Indian showroom an Italian showroom in Milan dedicated to Indian designers because we believe in recession you can put the right foot in,” says sales consultant Italy, Myriam Volterra.

And be it desi or international buyers, the key word is ‘value for money’.

“The client wants more bang for their buck and we are working around that all the designers are trying to cut down costs, price and give more value for money,” says entrepreneur Pradeep Hirani Kimaya.

“I am very careful of my buying I cannot afford to go wrong. The designers should look at their manufacturing process; accommodate their price points to suit the current economic climate. It is a global recession and there is no getting away from it,” says Indiva, Canada vice-president Wendy Dias.

But a price cut may not be what established designers like Sabyasachi are willing to fall back on.

“In recession you do not have to worry about cutting cost but increasing your quality. Honestly if you play your cards well and you know which market to cater to and this is time when designers who have more influence in the bridal market should rule roost,” says designer Sabyasachi.

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