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September 22, 2008
Euro Designers Fret Over Drop In U.S. Market
The collapse of three Wall Street investment banks and falling U.S. dollar have sent shockwaves not only to retailers, but also to some fashion houses that worry that there will be less of a market for their products. This is especially true for European designers whose goods are prices in Euros. Already, the weak dollar has caused prices on European goods to soar, but they could climb even higher in the wake of market troubles here in the U.S.
As European designers get ready to show their wares at the Milan shows, the mood is reportedly anxious.
It remains to be seen whether the market will stabilize in the face of the U.S. government’s proposed $700 billion bank bailout or if the mood will worsen as U.S. consumers face higher taxes to pay for it.
Posted by Blacks on September 22, 2008 12:49 PM
