Recession news and archive

UK falls into recession, retail industry takes hit

While it is no secret that the past year has proven to be a financially turbulent one for the UK, new data has revealed that the region had in fact fallen into recession during the final three months of last year, as the economy continued to take a hit. According to figures by the Office for National Statistics (ONS), the UK’s gross domestic...

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Business

Is beauty still recession proof?

Cosmetics is one of the most powerful categories in the world. In the 1930s, during the Great Depression, cosmetics still managed to hold stable, even as unemployment in America was at its worst, with 25 percent of the country unemployed. Cosmetics has survived multiple wars, presidential scandals, and notably the Great Recession of 2008. As a...

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Business

Is luxury fashion proving itself recession proof?

Inflation is at an all-time high, peaking at 9.1 percent. Thankfully, the price of gas is going down, easing the burden on customers’ wallets. At the same time, rent and housing prices are at a premium high. There are two schools of economic thought right now, one saying we are in a recession, and one saying we aren’t. There are also those...

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Fashion

How to build a luxury brand post-lockdown and amid inflation?

Starting a luxury fashion brand isn’t easy. The market is very saturated, and it’s tough to compete with established fashion houses owned by companies like LVMH and Kering. In the wake of rising inflation and global health scares, like COVID-19 and monkeypox, the idea of starting a fashion brand makes a lot of people nervous. China, one of the...

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Business

Is threat of a recession driving designers to go more minimalist?

Maximalism has been trending for close to a decade now. In 2010 as the world began to pull itself out of the worst global economic crisis since the Great Recession, designers began returning to a maximalist aesthetic. Embellishments, bright colors, patterns, and the idea of wealth was celebrated again. Then along came Alessandro Michele at...