Post #6: How to spend $5,700 per minute in NYC

New York Fashion Week, the quickest way to blow $100K.



One of the looks from the MFA class from Academy Of Art University during Mercedes Benz Fashion Week 2011

It seems that any self respecting Designer wants to ultimately show at Fashion Week. After all, it's the validation to ourselves, friends and family that we've made it? It's an opportunity to showcase your hard work in front of an influential audience of 1,400 guests, 1,800 media partners and other industry professionals including Buyers and peers. 



Fashionable  NYC persona Patrick McDonald and recent Project Runway contestant posing with gorgeous twin brothers. I feel a Double Mint commercial reference coming!

According to Forbes magazine, the average fashion show will set you back a cool $100,000. And for those of you who haven't experienced it, it's the most exhilarating and indulgent $100,0000 you'll ever spend, keeping in mind that the average show lasts 17 minutes. That means every minute of Lincoln Center fabulousness is costing you only $5,800 per minute. Time is money after all.

Oh no she didn't, the one and only Miss Jay who quickly whipped out the finger and kept the paparazzi in check! Booyah!



Nigel Barker and soon to be Nigel Barker Missy if I were to have it my way. He coud get it!

Is this money well spent? Is having a fashion show a right of passage so to speak? And is it more glamor and self indulgence than it is about the business of fashion? I am no industry expert, but some brands don't need to show during Fashion Week.

 To date I have only seen a few shows including ThreeAsFour, Reem Acra, Nice Collective, Narciso Rodriquez and most recently Academy Of Art. I have also seen a few sub par presentations in between and get the sense that fashion shows are not a business tool, but instead a flight of fancy and a play on the ego. There may be less focus on presenting a strong collection, and more concern about who is sitting in my front row which can be oh-so-distracting.

 

A fan photo from Fashion Week at Lincoln Center, and boy were there a lot of them! He was too cute, he offered to come work for me? I should be leveraging these opportunities in the coming future.

But most concerning is the recent fallout of major fashion brands that have neglected the business of fashion and have paid the ultimate price, bankruptcy. Christian Lacroix, Yohji Yamamoto, Escada and the Ittierre Group (parent company to Gianfranco Ferre, Malo, Just Cavali, CNC, Ermano Scervino) all have filed for bankruptcy protection within the last 2 years. It should come as no surprise but many fashion houses have been running at a loss for many years.

At one moment in time Versace had a staggering debt of $140 million, YSL accumulated

$400 million in a matter of 10 years, American Apparel and Samsonite round out the list that quickly comes to mind of household names that you would not associate with bankruptcy.

So I pose the following question. If you had a $100,000 would you spend it in 17 minutes?

  

Bloggers, Photo-Techs, Retouchers engaging with audience members via Twitter & Facebook while the show is streaming live. Photos are being retouched instantaneuosly and posted online, ever heard the term "fast fashion"? This be it.

And most of this wouldn't be possible without big corporate sponsorship which keeps the tents filled season after season. Big ups to Mercedes Benz, whose 2011 CLS is the shiznit.