The outlook for 2009 among producers if natural fibers such as wool and cotton has gone from bad to worse as brands and retailers have slashed orders in the face of a massive pullback in consumer spending.
Over the last several years, the U.S. cotton industry has seen steady declines in production as farmers increasingly devoted more of their acreage to higher-paying crops, such as corn, soy beans or almonds. The flight from cotton gained momentum throughout the year as economic conditions worsened, further increasing production surpluses and pushing cotton prices lower. A pound of cotton sold for more than 70 cents in February but had fallen as low as 37 cents a pound by November. Prices since have rebounded slightly but likely would have continued to slide if not for the intervention of several major governments.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)