The Business of Fashion

New York Fashion Week | Playing it safe

New York already has the reputation of being the most commercial of the fashion capitals, but this New York Fashion Week has taken that stereotype to new levels. With economic uncertainty swirling through the city (Lehman Brothers is the latest Wall Street Bank whose future is in question) and footfall at department stores dropping precipitously, the mantra of the week seems to have been 'Play it Safe!"

Over and over again this week, young designers have told me that the big buyers are sticking to proven silhouettes in basic colours, veering away from the fashion items. While the basics and staples of designer collections will always be important part of the product assortment, it seems to me that precisely because times are so tough, buyers should be making an effort to give consumers a reason to buy. And, that is not accomplished with a series of little black dresses.

New York Fashion Week | Furry optimism at Oscar, Peter Som and Proenza Schouler

The day before Super Tuesday in the American primary elections might be called Mega Monday at New York Fashion Week, with established heavyweights like Oscar de la Renta showing alongside the city's new establishment of Proenza Schouler and Peter Som. Young or old, a newfound fancy for fur (and its premium pricepoints) was a common thread, even in these recessionary times.

But, Oscar is no old-fogey. His collection came out to the sweet sounds of Regina Spektor, the young hip pianist. During the show, I had the good fortune to be seated next to the company’s CEO, Alex Bolen, who also happens to be Oscar’s son-in-law. It was a great opportunity to have a pre-show chat. Before I could even ask, Alex told me that Oscar de la Renta has not seen any impact of the economic slowdown on their business at all. Not a blip in sight.

New York Fashion Week: Oscar's church of posh

Joyous. That's how Natalie Massenet of Net-a-Porter described Oscar de la Renta's Spring/Summer 2008 collection to Alex Bolen, the company's CEO, after today's show. The setting in an Upper East Side church, the lovely dresses in bright gorgeous hues, and music from a band-cum-gospel choir culminated in a show-stopper from this legendary designer. Roger Federer, Victoria Beckham, Anna Wintour and others were there to soak it all in.

With utterly beautiful dresses targeted squarely at the ladies who lunch crowd and their daughters (many of whom were in the audience), Oscar showed that he operates in a market where you don't have to change things too much from season to season in order to make your mark. He leaves the sometimes obsessive trend-setting (and following) to younger designers and focuses instead on delivering collections that delight his core customers. The aesthetic ranged from minimalist long lean cut dresses in a single shade of red to beautiful prints and ethnic patterns, giving every lady in the house something to covet, regardless of her preferred style choices.