Phillip Lim is optimistic. “We’re not fearful of the economy,” he says, a bit zenlike considering the impact of the recession on his four-year-old line, 3.1 Phillip Lim. “Not everything is perfect, but in these times, it’s as perfect as it can be.”
Some strong numbers back up Lim’s positive attitude. Wholesale figures for 2008 totaled more than $40 million, according to Lim, with projections for 2009 upping that by 15 percent. “Phillip Lim is definitely a bright spot for us right now,” notes Linda Fargo, Bergdorf Goodman’s senior vice president, fashion office and store presentation. “All of us in the store are already anxious to shop the upcoming deliveries — that’s a good sign.” Meanwhile, sales in Asia grew by 40 percent this fall over fall 2008, and in Europe, 110 percent. In Italy alone, the line picked up 32 new retail accounts.
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?"