LONDON — Europe’s luxury goods companies could be the big winners — and fast-fashion retailers the big losers — as the pound and the euro slide in value against the dollar.
Because most companies have already locked in exchange rates and prices for the spring season, the impact of this week’s dramatic currency fluctuations won’t be evident until the middle of next year at the earliest. However, looking ahead to the third quarter of 2009, industry observers and financial analysts foresee two very different scenarios for the fashion business overall.
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?"