Economics Is The New Black

Next week marks the return of the week long fashion spectacle that is London Fashion Week. You would think that in this age of austerity and a time when people apparently have no money that the fashion industry would be dying. You wouldn’t think that fashion weeks across the globe would be growing. The fact is though that they are. London this year launched its “London Collections: Men” in what was seen as a stepping stone to a full blown men’s fashion week in the capital. This year’s New York fashion week has a slightly ambiguous name given that it is no longer just a week, but a whole 10 days in which the fashionistas of New York City take over the metropolis bringing with them their high heels, birkin bags and most importantly (and key to the point of this piece), their money. Some find it vulgar that the fashion world has continued as normal despite the global meltdown. I don’t find it vulgar, in fact I find it something to be encouraged. If this was any other business sector then it would be applauded for seeming to keep calm and carry on. Because this is an industry in which people feel they have no connection though they can’t adjust to fashion succeeding against all odds. This social division, however, is in fact a myth. Without sounding too much like Miranda Priestly, played by Meryl Streep in “The Devil Wears Prada” fashion is important to everyone. If it wasn’t for Valentino or Jason Wu spending millions on a new line then the people in Primark would have nothing to copy and then most importantly nothing for the average fashion consumer to spend their hard-earned money on. The fashion industry is actually a sector of our society that we cannot deal without; yes some may say that the outlandish designs currently draped over models in a tent in New York City may never filtrate down to us. This is true, but the inspiration drawn from these outfits will make millions for our economy. For example two years ago neon began to crop up on the catwalks. Most of us will never contemplate wearing a full, neon yellow trouser suit and probably that is a good thing but now neon is everywhere. Watches, bags, shoes, satchels. Everywhere. It may not all be well-made, or designer, or even good but the fact is that people buy it and a portion of that money will eventually find its way back into the economy. So this weekend when you are out shopping why not buy that bag? It is practically your national duty. Basically what I am saying is that economics is the new black.