Luxury retailers say they're cautiously optimistic that the worst of the financial crisis is behind the fashion industry.

In recent months, wealthy shoppers seem more willing to part with their cash. "Aspirational shopping" is also on the increase, with those on a budget happy to splurge a little on designer goods.

The ...

Burberry plans to shift its focus to handbags and shoes in the face of the financial crisis.

The British brand reported lower pre-tax profits this year, mainly due to falling apparel sales. However, there is a silver lining, with profits up for leather goods, casual handbags, and shoes.
"One of the highlights ...

Critical acclaim and a celebrity following are no insurance for surviving the global recession. Just ask Luella Bartley! The Designer of the Year at the 2008 British Fashion Awards has been forced to close down her Luella label following the loss of one of its main suppliers.

Luella's Italian production ...

Escada may have filed for bankruptcy, but don't count the European brand out just yet. Investors are rallying to save the iconic fashion label, despite insolvency proceedings opening on Sunday.

The leading prospect according to the New York Post is the Beirut-based M1 Group. The company purchased Faconnable from Nordstrom ...

Things seem to be going from bad to worse for European designer label Versace. Not even a month after the brand announced the closure of its Japanese stores comes news that 350 jobs will be cut.

The positions will be cut from Versace's international talent pool by the middle of ...

Coach's move into the budget handbag sector has seen the luxury label grow despite the financial crisis.

The brand's profits fell slightly in the fiscal first-quarter, but revenue is up. This is an encouraging sign when so many luxury labels are suffering.

Consumers have embraced Coach's budget bags priced between $200 ...

British luxury brand Burberry has followed up its successful showing at London Fashion Week with improved sales figures.

The group's shares are up by more than 3%, thanks to the enthusiasm for Burberry's fall and winter collections. Handbags and casual outerwear proved particularly popular with shoppers preparing for cold weather.

Like-for-like sales ...

Luxury handbag brands may have fallen out of favor in Japan, but they're just as popular as ever in China. A new study shows the financial crisis hasn't dented China's enthusiasm for designer bags, watches, and jewelry.

The study by New York market research firm Pao Principle looked at ...

Once Asia's luxury shopping epicentre, Japan seems to be losing its taste for luxury brand. Last year LVMH decided to can plans for a new Louis Vuitton flagship store in Tokyo's Ginza shopping district. Now Versace has gone a step further, announcing it plans to shut down its Japanese ...

Financial crisis? What financial crisis? That's the attitude of Harvey Nichols customers, who are still happy to fork out the big bucks for luxury handbags.

A representative from the retail chain's Knightsbridge store said one customer recently parted with £15, 000 for a hand-made alligator leather purse from American designer ...

The financial crisis has claimed another fashion victim. German fashion house Escada, once one of the most powerful labels in the world, has filed for bankruptcy.

Insolvency soon became the only option for the brand after it failed to find sufficient backing for its rescue plan. It leaves behind ...

It looks like Escada may be the latest victim of the financial crisis. The German fashion brand appears to be on shaky ground, with chairman Bruno Saelzer admitting he's spoken with insolvency experts.

The company is thought to have enough liquidity to last until August, but not beyond ...

Comme des Garçons has launched a limited edition Black Label fashion range in answer to the financial crisis. The French label's creative director Rei Kawakubo says the back-to-basics range is an "emergency reaction to the recession."

Eleven Black Label outlets will open in some of the world's fashion capitals. London's ...

Here's some good news for Dolce & Gabbana enthusiasts. While the financial crisis sees most of us tightening our belts, the design duo's famous lines will now be more affordable. Domenico Dolce and Stefano Gabbana are lowering the prices of their main and D&G collections from 10 to 20 ...

The financial crisis seems to have touched everyone, from Miss Joanne Average on the street to our favorite fashion houses. Prada is the latest luxury label to feel the strain of the current economic climate, with The Financial Times reporting the brand has asked banks to ease the ...

The financial crisis hasn't tainted the allure of our favorite luxury handbags. US magazine Forbes says the top three designer labels have maintained their worth in the face of the credit crunch.

French fashion house Louis Vuitton is still leading the pack with a brand value of $19 ...

The recent semi-annual update to Bain's Luxury Goods Worldwide Market Study predicts a continuance in the luxury industry's downturn. Honestly, I'd be surprised to hear that anyone expected otherwise.

Although the study showed a 15-20% decline in the first two quarters of this year, there is hope for the rest of 2009. They expect the decline to slow ...

In these uncertain financial times, it bags are out and classic purses are in. But it can be challenging to work out which handbags will stand the test of time, and which will fade from fashion before the next season comes.

The Examiner has taken the mystery out of the great accessories search with their guide to the five handbags ...

Bag lovers in Hong Kong are beating the financial crisis by snapping up second-hand luxury purses.

Pre-loved Gucci, Louis Vuitton, and Chanel handbags bring massive crowds to Milan Station in Causeway Bay. Yu Chan is a regular visitor who began to look for second-hand purses in ...

The team from luxury online store Net-a-Porter is preparing to launch their new discount outlet, cutely called OutNet.com. Next month the budget hotspot will start selling luxury handbags, apparel, lingerie, and other accessories for a fraction of their retail cost.
"On offer will be a mix of the former season's ...

The global economic crisis has claimed its latest fashion victim. San Francisco-based designer Rene Huber baby's, Goldenbleu, is shutting its doors.

I've always loved Goldenbleu's quirky style and bold color choices, so I'm really sorry to see it disappear from the fashion scene. The diagonally striped Andie Wallet and ...

It seems everyone is feeling the pinch of the financial crisis, and that includes our favorite handbag designers. Marc Jacobs has already canceled its famous holiday party and Fashion Week bash, but desperate times call for even more desperate measures. So now the luxury label is ...

You know times are tough when the iconic fashion labels of the world are struggling. Chanel is one designer who's taken a real battering in the economic downturn. It was recently forced to cut short its mobile art exhibition tour, and now comes news that 200 jobs ...

The economic crisis has claimed a new fashion victim. First we heard the latest Louis Vuitton store in Japan is on ice, and now it seems the Chanel Mobile Art Pavilion will wrap up its world tour early. The futuristic pavilion, designed by award winning architect Zaha ...

They might have more money than the rest of us, but even Hollywood style icons are tightening their designer belts in the financial crisis. Some of my favorite starlets shared their budget style tips at the recent New York Fashion Week.

Michelle Trachtenberg keeps her quirky style image ...