PARIS — The surge in the value of the euro to a record high Tuesday may be causing headaches for European luxury firms, but it’s a windfall for the other end of the fashion spectrum.
The Continent’s largest fast-fashion firms say the plunging value of the dollar is a boon that has driven down overseas production costs in regions where the euro has climbed in value some 25 percent over the last year. On Tuesday, it reached a record high of $1.1914 in Far Eastern trading before sliding back in Europe to close at $1.1884, up from $1.1857 on Monday. And currency prognosticators say the bulked-up euro could go even higher against the dollar — bringing tears or cheers to the fashion set.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"