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Fashion facing up to future fears?

Friday, July 08, 2016 - 01:21

Paris Fashion Week has seen Dior, Versace, and Chanel among the top labels taking to the catwalk. But has it also been a week for the global fashion industry to face up to some new realities? Laura Frykberg reports.

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From famous faces to fringe fads. All were flaunted at this year's Paris Fashion Week. Some luxury labels though, were strutting at a slower pace. Sales at Versace stalled earlier this year. So did profits at French fashion house Dior, and British brand Burberry. (SOUNDBITE) (English) SEVEN INVESTMENT MANAGEMENT, BEN KUMAR SAYING: "In the past year, eighteen months, some of the British brands have struggled in places like China and India, I think that's two-fold. One is that Chinese and Indian homegrown brands are becoming more competitive and higher quality. And as the British pound got a lot stronger last year. It got a little more expensive." Since the Brexit vote the pound has taken a plunge. It's hoped that means shoppers take advantage of bargains in Britain. Dior too is taking action. It's appointed a new head of creative to tidy up its seams. It's also a small win for equality, Maria Grazia Chiuri is the first woman to have the position in Dior's 70 year history.

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Fashion facing up to future fears?

Friday, July 08, 2016 - 01:21