Linda Fargo, senior vice president of the fashion office and the director of women’s fashion and store presentation at Bergdorf Goodmanįavorite collections: The best collections of the week were Khaite, Phillip Lim, Brandon Maxwell, Altuzarra, Carolina Herrera and Ulla Johnson. Nonetheless, fashion rolls on, and here are retail executives’ views on some of the highlights of New York Fashion Week: is expected to inch up 1.84 percent CAGR (compound annual growth rate) annually through 2028, according to Statista Market Insights.Īgainst that backdrop, retailers and designers remain decidedly cautious for the remainder of this year and planning next spring. The $27.15 billion luxury fashion sector in the U.S.
But the overall strength of domestic designer clothing is tepid. While the average American household spends $1,434 a year on clothing, that sum is minimal for top-tier designer shoppers. Despite that, they will jump on trends that emerge during the season, or “chase” the goods, as they like to say. Given that, the operative word for fourth-quarter business is “uncertainty” among retail executives, who have been placing orders cautiously and primarily holding back on open-to-buys. In response to those behavioral shifts, retailers are still trying to whittle down their inventories. Unquestionably, the designer business has lost some luster, due to hybrid working, inflation concerns and the now-entrenched casual dress code. Brunello Cucinelli on Lessons Learned Over Seven Decades
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