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Chanel to Cut 200 Jobs
As if we didn't already have enough signs that 2009 is going to be a lean year, The Guardian is reporting that they will be cutting 200 jobs, most of which will fall within their production workforce. Chanel is blaming a slow down in their luxury sales which is in line with predictions from JP Morgan citing that the luxury market will see sales fall by 4% in 2009.
"The job losses, described by some commentators as the label's worst crisis since founder Coco Chanel fired all her staff at the outbreak of war in 1939, represent almost 10% of the company's production workforce. The redundancies come after a difficult year for the fashion, perfume, cosmetics and accessories businesses where growth has almost ground to a halt."
While not surprising this is a sad precursor to what will be a year where many fashion houses will likely be slashing jobs to protect their bottom lines.
Written: 1st January 2009 at 13.19
Author
Authored by Allan Barger.
It's left to Allan to bring the street look to Fashionising.com. It's simply his scene, and, let's face it, his tastes in high-top Nikes will never be shared by the rest of us. Marrying colourful bright colours with awfully tight skinny jeans has become a trademark look for him, and shows the true nature of fashion trend divergence we're always blogging about. Always beating the pavements of some inner-city hub look to Allan for upcoming street trends that may end up mainstream sooner then you think.
He says: Beware of neon.
We say: Why do you wear it then?
