Like other Indian industries, the fashion fraternity too is facing a credit crunch and the upcoming fashion weeks may end up bearing the brunt of the slowdown. As HT City spoke to designers gearing up for the weeks, we realised that most are busy cutting costs or editing the frills, as they say.
Designer Abdul Halder, who will be participating in both Lakme Fashion Week (LFW) and Wills Lifestyle India Fashion Week (WIFW) says, “I am cutting costs. This time around, I will only print 500 brochures and probably no look books. Also, I will be making a prêt line to have low-ticket products, too.”
Designer Siddharth Tytler, a WIFW participant, agrees. “Recession has affected us all. I think it is time to lie low. Therefore, we would be cutting cost in a couple of areas including art and print work and look books. In fact, even our photo shoots would not be that grand. Also, one needs to cut down on the presents given to attendees during the fashion week. I will be looking to cut costs of approximately Rs 3,00,000 this time.”
However, some designers believe that look books and artwork are critical to their presentation. Therefore, they would rather compromise on bigger expenditures. Says designer Alpana of Azara, “We are cutting overheads everywhere but believe that presentation is of utmost importance. With recession bearing down on us so terribly, we would be going for fabrics that are not that expensive and which do not seem overtly luxurious. Moreover, we are working on recycling shoes from our last season. It is sinful to waste any resource at the moment.”
Designer Ranna Gill says, “Honestly, we are not holding back on our expenditure this season, even though fewer buyers are expected. If we need to, we may cut down on our marketing plans, like inviting Bollywood actors to walk the ramp.”
Designer Kiran Uttam Ghosh says, “We are only suffering from a credit crunch and not creativity crunch. The collections will not be mediocre at all!”