Fashion x Recession

New York fashion week is coming up and i have been hearing about numerous designers pulling out because of today's economic problems. Most lines are forced to cut costs and display their collection in intimate salon/boutique settings, others are forced to not even have a runway show, and some just wont be able to even show their collection at all. To name some; Vera Wang, Betsey Johnson, Peter Som, Zac Posen, Alice Temperley, Tracy Reese, Sass & Bride, and Obedient Sons & Daughters. With this, model agencies also cant escape the effects of this recession. Many of the models and staff of big/small name agencies are also being let go.