Vera's homework (Proposal Plan)

Thesis: Fashion vs. Recession

Abstract

Introduction

—— Background of the 2008/09 global recession;

—— Challenges that the fashion industry are facing under current economic climate;


—— Thesis statement: Firstly, this essay will analyse the impacts that the 2009 recession brought to the fashion industry from the angles of the governments, consumers and the fashion industry itself respectively. Then, it will compare current situation with recessions in history and explain how fashion industry can affect economy sometimes (The Hemline Theory). At last, it will give conclusions and feasible suggestions of further recover of the fashion industry.

Background of 2008/09 global recession

—— Definition of recession;

—— Causes of the 2008/09 recession;

—— Influences of the 2008/09 recession in general.

Challenges that the fashion industry are facing under the recession

—— Sales of fashion industry has been declining;

—— Budget of fashion shows have been cutting down;

—— Designers' career will be tested;

—— Governments don't want to loose their top brands and help them to maintain their images and high prices.

Recessions in history and the Hemline Theory

—— Comparison of the impacts to fashion industry between current downturn of economy and recessions in history;

—— The Hemline Theory: Created by US economist George Taylor in the 1920s, meaning that when skirts are shorter, the stocks are likely to go up.

Conclusion

—— Fashion industry being hit hard by the recession and facing a lot of challenges;

—— Tough times may mean greater opportunities. With the recover of economy, the fashion industry may come up with ideas and designs which are more financial feasible for global customers. Also the governments could help to maintain brands and draw up policies in favour of the fashion industry to get them through the dark times.

Reference: http://www.seattlepi.com/business/360526-shortskirts25.html

http://www.reuters.com/article/idUSTRE60O4U920100125