L-R Mugler, Issey Miyake, 3.1 Phillip Lim Fall 2012 | Source: Style.com

Asian Designers Make an Impact in Paris (IHT)
“Asian designers, whether home based or in the fashion diaspora, are making an impact in the opening days of the Paris men’s 2012 season. Phillip Lim, the Cambodian-American designer based in New York, was smart to come to Paris to show a 3.1 Phillip Lim collection that was simple but laced with the conceptual.”

European Luxury-Goods Stocks May Benefit From Weaker Currencies (Bloomberg)
“Investors forecasting the euro and Swiss franc will weaken against the dollar may find comfort in shares of European luxury-goods companies. Financiere Richemont and LVMH are among stocks that would benefit disproportionately if the currencies fall further from year-ago levels.”

Crisis on the catwalk over Britain’s fashion brain drain (Independent)
“The British Fashion Council (BFC) yesterday announced the formation of a Fashion 2012 Menswear committee, designed to raise the profile of UK designers and increase sales.”

More Heads Roll at Ungaro (The Cut)
“After losing Giles Deacon in December and new CEO Jeffry Aronsson just last month, Emanuel Ungaro appears to be on one shaky last leg. WWD reports that the ailing French fashion house told retailers that they’re unable to deliver their spring-summer collection because of ‘internal reorganization.’”

Louis Vuitton’s Kim Jones: exclusive Q&A (Guardian)
“British menswear designer of the year Kim Jones presented his second collection for Louis Vuitton. He talks exclusively to the Guardian about his inspirations and moodboard.”

Phillip Lim | Photo: But Sou Lai

NEW YORK, United States — “I always believed in making clothes with affordable prices,” said Phillip Lim, one of the many young designers to have emerged in New York over the past few years. But unlike his peers, when Lim launched his label back in the autumn of 2005, he made a conscious decision not to compete in the high-end designer category. Instead, Lim’s vision was to offer his customers beautifully made, well-designed clothing at a contemporary price point.

Lim’s fashion journey began with Development, a Los Angeles-based line he started with partners in 2000. But four years later, after relationships turned thorny, Lim walked away from the label. Soon after, a friend he had met in Paris convinced Lim to come to New York, just to ‘hang out’ for the week. That friend was Wen Zhou, who would soon become chief executive of Lim’s new brand and his new business partner in an entrepreneurial venture that is on track to turn over more than $60 million this year — not bad for seven years of hard work.

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“I grew up in a duality where day was Western culture and night was completely Eastern culture. I grew up fighting my Eastern heritage, my Chinese side. As I get older I have this innate yearning to realise my roots and get deeper in touch with them.”

Phillip Lim, speaking to CNN Talk Asia on the occasion of his first fashion show in Asia, held late last year in Beijing.

As the big three U.S. automakers await to hear their fate on a requested bailout from the U.S. government and Citigroup teeters on the verge of bankruptcy, it now seems that the fall of Lehman Brothers, Bear Stearns and other corporate casualities was just the beginning of what is likely to be a global economic meltdown of epic proportions.

With this as the backdrop, a reader recently wrote in to ask about the prospects for aspiring job seekers in the fashion industry more generally. Others have been wondering how some of the emerging businesses that have come to the fore in recent years are faring.

The short answer to both questions is that things are extremely tough out there, but there is always opportunity for innovators.

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Yesterday at Phillip Lim I heard a videographer complaining "There’s no one here, and whenever someone does show up, they bring them out at the last minute so I can’t shoot them."

Many fashion brands may have been built on the dreams created by out-of-this world haute couture collections, but today, for many brands, this desire is built on the image of celebrity, which can arguably reach more people than the Haute Couture shows ever will. Celebrity is the new Haute Couture. Or, better said, celebrity now plays the dream-weaving and marketing role that Haute Couture has played in the past.

However, in a week when the front rows were supposed to be dripping with celebrities, the paparazzi at New York’s fashion shows were left wanting. Yes, pop star Rihanna made several appearances, as did Angie Harmon, but it seemed the biggest A-list stars had given New York Fashion Week a wide berth.

Until yesterday.

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