The Fashion Week frenzy is back, following last month's presentations of Men's Autumn/Winter 2008/09 collections in Paris and Milan, as well as the Haute Couture Spring 2008 collections, also in Paris.
Now, as I prepare for more chaos during IMG Fashion Week New York, the splendor and excess of the fashion world is coming to a glaring realization.
In a recent online article, Forbes reported that, on the low end, each fashion show at Bryant Park costs an average of $50,000. In my experience, a presentation rarely exceeds 12 minutes. Forbes stated that adding exclusive stylists or models and special technical effects to a show can easily escalate those figures by $20,000, even $75,000. A change in venue can shoot expenses up by another $100,000.
But according to Forbes, these prêt-à-porter overheads pale in comparison to the three million dollar price tag most haute couture shows carry!
Take for instance last week's Chanel show, in which Karl Lagerfeld had a wooden "Chanel jacket," standing 23 meters tall, erected as an idol-like centerpiece to the catwalk. He followed with a lavish dinner and after-party for several hundred guests. Obviously, attempting to stay under a budget of two million Euros was not a priority.
In fact, many shows I've attended in the past year have not neglected the high expenditures associated with after-show festivities. In September, Max and Lubov Azria dished out a rumored $250,000 for a dinner and party at Buddakan in Manhattan to celebrate the label's achievements. Rock & Republic rented out the pricey Parisian Hôtel de Crillon in October, where we danced late into the night, fueled by various cocktails and bottles of Taittinger champagne (the same family who owns the hotel).
Cost? A colleague of mine estimated around $100,000. Just two weeks ago in Milan, John Richmond threw a similar before-show party, where we gobbled endless hors d'oeuvres and marveled at posh gift bags. That afternoon fling rang in at about '50,000.
Naturally, these grandiose affairs come under great scrutiny. In my opinion, high fashion is art, especially in regards to haute couture. Haute couture is the opportunity for créateurs de mode to demonstrate their talent and creativity. Is it not ironic that I less often hear people fuss about elaborate and pricey art openings or auctions? Moreover, fashion shows are not only a way for a designer to present his new collections to the press and buyers, but a means to establish and promote his image, marketability and success. Celebrities in front rows, accompanied by top stylists and personnel backstage, boost the exposure of a label.
Nonetheless, such profligate spending can leave towering levels of guilt. But in their defense, most leading luxury brands and companies are using their deep pockets to make a difference.
As global wealth becomes more concentrated, luxury industry sales are on the rise.
French giant and PPR-owned Louis Vuitton Mo?t Hennessy (LVMH), which also owns percentages of Fendi, Pucci, Donna Karan, Marc Jacobs, Sephora, Veuve Clicquot, and Givenchy, reported revenues of 15.9 billion dollars in 2006, according to its Web site. Business Week attributed smaller rival, the Gucci Group, which owns primary fractions of Yves Saint Laurent, Bottega Veneta, Alexander McQueen, and Balenciaga, profits just below seven billion dollars in 2006.
With these figures, there is little reason not to give back. The Gucci Group has strongly supported the battle against AIDS through large donations toward research and education. In fact, next Wednesday evening in Manhattan, after the re-opening of the Gucci 5th Avenue store, Gucci and Madonna will join forces to raise money in support of UNICEF and Malawi. An informant confirmed that tickets for the event range from about $500 to $100,000, which should raise more than a million dollars. LVMH proudly states on its Web site that in addition to the AIDS fight, the group donates to healthcare and poverty programs, cultural and hospital restorations, childhood education, and medical non-profits.
Likewise, über rich designers such as Giorgio Armani and Ralph Lauren, who have a net worth of 4.6 and three billion dollars respectively (per Forbes), have championed charities supporting breast cancer and AIDS research, natural disaster relief, and refugees. With a little star power and publicity, these events raise tremendous amounts of money for good causes.
As I take the plunge back into the decadent Mercedes-Benz Fashion Week, the question still looms: Can the philanthropic and humanitarian efforts of the luxury industry expunge all that high-priced extravagance?