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Inflation Crisis

13-08-2008   


Money

How does this affect those of us working within the fashion industry? Retailers are evidently pulling out all the stops to reduce the impact of the credit crunch. Gap have axed their European design team and are in the process of implementing new marketing strategies via celebrity endorsements. The likes of Liv Tyler, Hugh Dancy and Georgina Chapman have boarded the autumn advertising band wagon whilst Mango and H&M have been busy with refits and re-launches of new and existing stores.

 
Desperate times cause for desperate measures and many brands have decided to either change direction or image, use celebrities to lure consumers, increase CSR levels and many more. With the axing of Agyness Deyn at Burberry and Prada pumping money into making a series of 9 films to celebrate a new men's fragrance even the high end brands are resorting to take some sort of drastic action to survive in the state of today's dismal economy.

 
Superdrug have recently launched a new and exciting initiative by extending their cosmetics range to cater for men, releasing a series of male friendly products including "guyliner" and "manscara". Superdrug have got the right idea by attacking this very niche market however the inevitable risk factor must be considered as these products only apply to a narrow selection of potential customers.


Do not panic though, not all retailers are going through a hard time, please click here for some more optimistic retail news.




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