Two big names in fashion are opting out of the big catwalk show in the Big Apple in February. Betsey Johnson joined Carmen Marc Valvo who decided that dropping $100,000 on a show in Bryant Park just wouldn't work this year. Betsey Johnson says she will still have a show, just not sure where, but it definitely won't be a lavish production as in the past.
Implications - Many consumers are more likely to feel less helpless and unsuccessful with the events of the recent economic recession, if other members of the industry are encountering similar experiences and feelings. Consumers will be much more willing to invest their time and money into a product to which they can relate.