An iconic fashion-industry staple could be in grave danger

  • The fashion show may soon be a thing of the past.

    fashion show

    image:Festklanningar 2017

    In a world where bottom lines are shrinking and fashion brands are losing market share to activewear companies like Nike and Lululemon, fashion shows are increasingly being seen as an unnecessary expense.

    In 2016, The Atlantic provocatively asked: "Is this the end for Fashion Week?"

    The fashion show is "definitely incurring challenges," Ketty Maisonrouge, a Columbia Business School professor and the head of the luxury marketing agency KM and Co., recently told Business Insider.

    Brands both big and small are skipping years, skipping either the fall/winter or spring/summer shows, or skipping some cities on the fashion-show circuit altogether. In February, 12 brands skipped New York Fashion Week, including Tommy Hilfiger, Tom Ford, Vera Wang, and DKNY.

    To combat this, some brands — like Rebecca Minkoff, Tom Ford, and Burberry — are trying to make the most out of their runway shows with a "see now, buy now" model, in which consumers can buy new products as soon as they hit the runway. Unfortunately, these pieces are far out of season when they're shown, and people often still wait to buy them until they need them.

    Because of the massive expense of elaborate fashion shows, many fashion brands are deciding to do cheaper presentations that highlight certain aspects of the clothing and allow spectators to get up close. Others are diverting their budget to social-media marketing, which allows them to go directly to consumers without passing through buyers and the media. This could have a leveling effect for fashion brands, as smaller brands will no longer need to put forth the up-front cost to stage an elaborate show to reach buyers and customers.

    See More:Brudklanningar 2017