Will teens start a fresh buying spree in 2003? Even the once high-flying teen sector was bummed out by the recessionary economy this year.
Teens still want the hottest item on the market,but since parents are watching their money,the tight family budgets put a hurt on the mall habit.Teen unemployment is also up,since retailers cut back on holiday hiring.Unemployment stood at 5.6 percent in September,but among teens,it ’s at nearly three times that level,rising to more than 15 percent in August,according to Dana Telsey,retail analyst at Bear,Stearns.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)