Spring Break
How haute couture survives in a troubling economy
Issue date: 9/18/08
Once again we find ourselves back on this campus we call Hopkins. Yet this time around something feels different.
Maybe it's the mounting global food crisis or the large-scale civil and international wars alike raging across every continent. Or quite possibly it's the fact that oil costs hit around $130 a barrel. Indeed the kingdom of heaven runs on righteousness, but the kingdom of Earth runs on oil.
Everything from bicycle sales to airplane tickets have been affected. Even the sale of the electric two-wheeler Segways has risen by more than 50 percent since last year, all because of the price of oil.
And of course you've probably guessed by now that as this column's focus is haute couture, oil has affected the world of fashion as well.
You certainly do not need to be an economics major to realize that more money for gas results in less money for luxury goods, like that pair of jeans you've been eyeing or those Greek-Olympian sandals that were all the craze this summer. Well, it's not surprising that design houses and retail stores are having trouble reeling in their customers because of this change in spending habits. Just driving to the mall will probably run you a couple of dollars. And while this may be bad news for most stores, a few stand alone to profit from the imminent recession.
Swedish powerhouse H&M has a long history of providing fashionable European-inspired clothing for a fraction of the price you'd find elsewhere while still maintaining a relatively high quality.
It appears that H&M has also been keeping an eye on the tickertape, for they have recently added a luxury clothing section to their stores. Racks are being lined with silk sweaters and slim-fit suits, all of high quality but cheaper than you would find anywhere else. This will certainly expand the breadth of their clientele and increase their profits.
H&M has managed to do what no other store has done before. While bringing in truck-loads of fresh, new and stylish clothing every season and selling them at bargain prices, the brand has basically taken monopoly of the ready-to-wear market in the new era where alcohol, the college student's fuel, is cheaper than gas.
Maybe it's the mounting global food crisis or the large-scale civil and international wars alike raging across every continent. Or quite possibly it's the fact that oil costs hit around $130 a barrel. Indeed the kingdom of heaven runs on righteousness, but the kingdom of Earth runs on oil.
Everything from bicycle sales to airplane tickets have been affected. Even the sale of the electric two-wheeler Segways has risen by more than 50 percent since last year, all because of the price of oil.
And of course you've probably guessed by now that as this column's focus is haute couture, oil has affected the world of fashion as well.
You certainly do not need to be an economics major to realize that more money for gas results in less money for luxury goods, like that pair of jeans you've been eyeing or those Greek-Olympian sandals that were all the craze this summer. Well, it's not surprising that design houses and retail stores are having trouble reeling in their customers because of this change in spending habits. Just driving to the mall will probably run you a couple of dollars. And while this may be bad news for most stores, a few stand alone to profit from the imminent recession.
Swedish powerhouse H&M has a long history of providing fashionable European-inspired clothing for a fraction of the price you'd find elsewhere while still maintaining a relatively high quality.
It appears that H&M has also been keeping an eye on the tickertape, for they have recently added a luxury clothing section to their stores. Racks are being lined with silk sweaters and slim-fit suits, all of high quality but cheaper than you would find anywhere else. This will certainly expand the breadth of their clientele and increase their profits.
H&M has managed to do what no other store has done before. While bringing in truck-loads of fresh, new and stylish clothing every season and selling them at bargain prices, the brand has basically taken monopoly of the ready-to-wear market in the new era where alcohol, the college student's fuel, is cheaper than gas.
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