Sluggish European markets changing the face of American fashion

By now it is no secret that the European luxury goods market is struggling. With brands like Hugo Boss, Hermès, and Prada reporting losses due to the less than stellar financial situation in the EU and volatile currency exchanges things are pretty tough right now. Let’s not forget the cherry on top of the designer cake, the political climate in Russia, where the luxury goods market has taken a severe blow. While that is just the nature of economics with markets going up and down all the time, for something like the luxury goods market, which is a huge global commodity, brands aren’t just going to sit by and wait for the markets to pick up.