Oscar de la Renta: A Recession Miracle
Jan 07, 2009 - by Kirby Marzec
Financial failure in the fashion industry has been the talk about town recently. With February's Fashion Week just around the corner, more and more designers are backing down from the tents, in hopes of recovering from the economic crisis continuing over from 2008. Despite the fact that big names like Vera Wang and Betsey Johnson have been monetarily beat to a pulp, Oscar de la Renta has been doing well...quite well. It seems as if the economic times have had no effect on de la Renta, as he has added a show during Fashion Week. The designer will hold two shows, one at 1pm and the other at 2pm on February 18th, separate venues for retailers and the press. Oscar de la Renta even told Fashion Week Daily that 2008 was a good year for him (he may be the only one...) and while many designers had to lay off workers, he actually added 15 employees to the company! On top of that, de la Renta stated that the last three months were successful. I didn't know that people were still in the market to spend almost $2,000 on a cashmere ruffle cardigan...if so, all the power to you! Kudos to de la Renta for retaining success as his middle name, even during these tough times.
Thanks NY Mag!