February 2009 is just around the corner and with it comes New York Fashion Week; and seemingly the event’s sheer statistics are enough to highlight the current troubles facing the fashion industry in light of the world’s economic woes.

Last season IMG Fashion, which organizes Fashion Week, boasted more than 80 designers on its schedule. However, only 52 have been confirmed for February Fashion Week so far.

Mallis expects designers to try to save money by staging presentations instead of runway shows. Just renting a tent that seats 350 to 1,100 people costs $25,000 to $50,000 and that doesn’t include the hair, makeup, models, what have you.

Source: New York Magazine

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