Comments on: Friday Column | How to Survive the Recession http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html The Business of Fashion is the daily must-read for fashion creatives, business professionals and entrepreneurs in more than 150 countries around the world. Fri, 19 Mar 2010 06:48:49 +0000 http://wordpress.org/?v=2.8.6 hourly 1 By: Jacopo http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html#comment-3996 Jacopo Tue, 13 Jan 2009 09:25:33 +0000 http://www.businessoffashion.net/?p=1205#comment-3996 Let's be realistic. This huge crisis has been generated by an enormous misunderstanding: finance was born (and it's still supposed) to support industry and commerce, to finance their operations, to feed them and to let them grow. Finance should not be a game played apart. So my receip for the fashion world and -why not?- for the post-downturn industry is: focus on quality, utility, smartness, design; but the main challenge will be to mix them in the correct way, giving to the product (or to the service) the correct balance between all those features and, most importantly, the pricing strategies. Pricing should reflect a honest and evident value-for-the-money, pricing should not be a tease anymore for the savvy customer. In other words, I believe that the new drivers for the upcoming manufacturing industry (especially for design and image oriented firms) will be "reality", instead of "fiction", "true money", instead of "credit lines", "timeless style", instead of "to-die-in-6-months". The honest will survive, the fake won't. Regarding your "cut the costs" point: I do not totally agree with you since cutting the wrong costs could lead to tremendous mistakes. For example, cutting design costs for a design-orietnted firm, or cutting R&D for a consumer electronic one, would certainly determine losing the pace of the smarter competitors. So, try to cut useless stuff is fine, but be aware of cutting some vital parts. Keep investing in the hard times and you'll be the first to smile when the good times will show up again. best jacopo http://life-is-a-show.blogspot.com Let’s be realistic. This huge crisis has been generated by an enormous misunderstanding: finance was born (and it’s still supposed) to support industry and commerce, to finance their operations, to feed them and to let them grow. Finance should not be a game played apart.
So my receip for the fashion world and -why not?- for the post-downturn industry is: focus on quality, utility, smartness, design; but the main challenge will be to mix them in the correct way, giving to the product (or to the service) the correct balance between all those features and, most importantly, the pricing strategies. Pricing should reflect a honest and evident value-for-the-money, pricing should not be a tease anymore for the savvy customer.
In other words, I believe that the new drivers for the upcoming manufacturing industry (especially for design and image oriented firms) will be “reality”, instead of “fiction”, “true money”, instead of “credit lines”, “timeless style”, instead of “to-die-in-6-months”.
The honest will survive, the fake won’t.
Regarding your “cut the costs” point: I do not totally agree with you since cutting the wrong costs could lead to tremendous mistakes. For example, cutting design costs for a design-orietnted firm, or cutting R&D for a consumer electronic one, would certainly determine losing the pace of the smarter competitors. So, try to cut useless stuff is fine, but be aware of cutting some vital parts. Keep investing in the hard times and you’ll be the first to smile when the good times will show up again.

best

jacopo

http://life-is-a-show.blogspot.com

]]> By: rollergirl http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html#comment-3224 rollergirl Sat, 03 Jan 2009 14:38:52 +0000 http://www.businessoffashion.net/?p=1205#comment-3224 Re Lauren's last point...hopefully this will also mean less celebrity models (YAWN) in high-end ad campaigns and a return to models. Re Lauren’s last point…hopefully this will also mean less celebrity models (YAWN) in high-end ad campaigns and a return to models.

]]> By: Mag chamoun dotremont http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html#comment-3192 Mag chamoun dotremont Sat, 03 Jan 2009 09:09:05 +0000 http://www.businessoffashion.net/?p=1205#comment-3192 All this is very true. I beleive a lot of companies sease the opportunity ( in Europe @ least and specially France) to apply social measures they couln't during growth times. on the other hand, people were talking about a financial crisis turning into economical crisis... my god... press talked so much about it that the economical crisis has been anticipated by an emotional one... that's worse... a lot of measures are being taken in companies before anything happens! that's were recession becomes historical... it's like economical terror... the fact of talking about it is enough to turn us in the dark! All this is very true. I beleive a lot of companies sease the opportunity ( in Europe @ least and specially France) to apply social measures they couln’t during growth times.
on the other hand, people were talking about a financial crisis turning into economical crisis… my god… press talked so much about it that the economical crisis has been anticipated by an emotional one…
that’s worse… a lot of measures are being taken in companies before anything happens! that’s were recession becomes historical… it’s like economical terror… the fact of talking about it is enough to turn us in the dark!

]]> By: claire http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html#comment-3091 claire Fri, 02 Jan 2009 18:32:47 +0000 http://www.businessoffashion.net/?p=1205#comment-3091 Lauren Goldstein Crowe back on the blogosphere, what a happy surprise! I've missed you ever since you left Portfolio.com. Lauren Goldstein Crowe back on the blogosphere, what a happy surprise! I’ve missed you ever since you left Portfolio.com.

]]> By: editor http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html#comment-3076 editor Fri, 02 Jan 2009 15:50:36 +0000 http://www.businessoffashion.net/?p=1205#comment-3076 very interesting. i wonder if i will feel the tweaks, the cuts (like the ad campaigns as you mention) or if it will be done with enough finesse. how will magazines fair? if advertising budgets are slashed (frankly, i haven't opened a US vogue in a while, but last time i did, they had some very incongruous advertisers), and if readers decide to curtail that area of entertainment, magazines will be hit from both sides. the internet isn't helping matters. interesting. very interesting. i wonder if i will feel the tweaks, the cuts (like the ad campaigns as you mention) or if it will be done with enough finesse.
how will magazines fair? if advertising budgets are slashed (frankly, i haven’t opened a US vogue in a while, but last time i did, they had some very incongruous advertisers), and if readers decide to curtail that area of entertainment, magazines will be hit from both sides. the internet isn’t helping matters.
interesting.

]]> By: Jen http://www.businessoffashion.com/2009/01/friday-column-how-to-survive-the-recession.html#comment-3069 Jen Fri, 02 Jan 2009 15:18:12 +0000 http://www.businessoffashion.net/?p=1205#comment-3069 It's a LIQUIDITY CRISIS! Hoarding cash that you don't need to will make everyone have more liquidity problems. Are you trying to devalue your currency? It’s a LIQUIDITY CRISIS! Hoarding cash that you don’t need to will make everyone have more liquidity problems. Are you trying to devalue your currency?

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