The State of Fashion: The Concerning Threats For The Independent Designers

Thrive? In this economy?
NEW YORK, NY – SEPTEMBER 09: Designer Dion Lee walks the runway at the Dion Lee fashion show during New York Fashion Week: The Shows at Gallery 2, Skylight Clarkson Sq on September 9, 2017 in New York City. (Photo by Frazer Harrison/Getty Images For NYFW: The Shows)

As global inflation continues, no statistics and exact numbers are needed to know that the fashion industry is struggling to stay afloat—even LVMH reported a net profit decline of 14% in the first half of 2024, so what does that say about independent or green players? Amid news of brand acquisitions and shufflings in leading roles like creative directors, we are witnessing independent designers—some of whom are sole owners of their brands—either taking a pause or closing their businesses. Last year in June, Christopher Kane was snuffed out of the fashion scene after not getting a buyer. Sadly, Kane is neither the first nor the last.

Bidding New York Fashion Week goodbye is downtown darling Puppets & Puppets after five years; the founding designer announced that the brand will now focus solely on accessory designs while Dion Lee, an Australian designer adored by celebrities like Dua Lipa and Blackpink’s Lisa collapsed into liquidation. 24 years in the scene, CFDA-award winner Mara Hoffman too, announced its closure earlier this year, followed by cult-favourite The Vampire’s Wife—known for its Falconetti dress, the “dress of the decade”—shuttering after a decade in business. This disruption is happening on a worldwide scale as Calvin Luo, the promising Shanghai-based designer decided to take a break from his eponymous label. All these concerning headlines that surfaced within the same year created turbulence in the independent fashion scene, especially among rookie designers who were thrown into disarray. Running an eponymous label—and eventually being hired for important roles in megabrands—was the universal dream for most of these young designers. They ought to start somewhere, but if the starting point is nothing but a mud wrestle, who will survive and what will be left of them?

This pandemonium did not happen in a vacuum; many independent businesses had cited the downfall of e-retailer Matches Fashion—an aftermath of the pandemic-induced recession that led to softening demand for luxury fashion—as one of the most defining reasons. The retailer was reported to owe a hefty amount of £36 million to multiple brands, including The Vampire’s Wife (around £30,000). While the amount may not mean much in this million-dollar industry, it’s a lot for smaller brands with limited cash flow, great enough to cripple these fashion labels, even if they are decades old. That is, of course, not the sole reason.

Fashion is an ecosystem of its own: the retail crisis, e-tailer collapse, world economy inflation, increase in taxes, brand acquisitions, and change of ownership, will eventually lead to a new approach in business, from daily operations to creative direction. The creative director upheaval that we discussed in our previous issue, for example, will change the industry’s landscape. As the economic uncertainty caused by conflicts hastens luxury fatigue, consumers too are resetting their priorities, causing a plummet in not just interest but also sales. Young designers are trapped in this never-ending wheel-spinning game, bracing themselves through the storm unarmed.

Photo Courtesy of Chopova Lowena

“At this point in fashion, as a young designer, thriving is just surviving,” the founder of Puppets & Puppets, Carly Mark shared in an interview with Vogue. To sustain, some of these emerging designers have no choice but to resort to rebranding. Puppets & Puppets, for example, stripped its “Downtown New York” label as Mark moved the business to London and turned it into an accessory label. Collaboration between established brands is a norm within the industry where high and low pairings are highly appreciated, as they offer a lower entry point into the luxury sphere. Independent labels, on the other hand, opt to look to massive non-fashion mass-market brands instead. Chopova Lowena for example, linked arms with household names Hellmanns for its Spring/Summer 2025 collection. The appeal is apparent: for better exposure and more money. Some people might condemn this behaviour as “producing merchandise instead of fashion”, but in reality, it’s just a way to survive—to not put all their eggs in one basket.

The industry is never short of creative individuals, but the challenge lies in having unwavering financial support to resolve difficulties such as cash flow, operational and production costs, and logistics. The good news is that there are also a handful of fashion associations and initiatives that address these issues with funds dedicated to emerging labels. Fashion East, for example, is a non-profit that has been a great incubator for young talents. With prolific alumni like JW Anderson, Simone Rocha, Martine Rose, and more, Fashion East has been nurturing up-and-coming designers relentlessly for the past 24 years.

The British Fashion Council have also been lending a helping hand to these designers with programmes like the NEWGEN—they were also one of the first supports given to emerging talents in fashion and the Council of Fashion Designers of America, teaming up with Vogue for the CFDA award that offers one-
off funds. Among all the initiatives, the LVMH Prize has been keeping noses on the grindstone with an endowment of €400,000 and a tailored mentoring programme by the multinational conglomerate. Financial support aside, having a mentor is incredibly helpful for budding designers too. Fashion businesses have thrived beyond great designs by having guidance from experienced cohorts proving to be the cornerstone of a fashion brand’s success.

From RaiseFashion to Andam Fashion Awards, there are plenty of awards that aid these fashion designers. However, with exponential growth in the fashion education sector, these initiatives barely scratch the surface. The gap between the appeal of working in the oh-so-glamourous industry and the reality—notoriously known as “The Project Runway Effect”—is barely filled. In short, the industry is not ready for the oversupply, leaving many fresh graduates high and dry. There’s a noticeable lack of resources that are available in the pool that are up for grabs. On top of that, these conditional aids are mapped out with various limitations—it’s an exclusive circle after all. Those who fall out of the aegis would have to go through painstaking processes to secure funds and even if they managed to do so, it’s often a one-time injection.

While runways are important for budding designers, being part of the fashion week schedule costs a fortune. These new labels, especially those fresh out of the ivory towers of academia, need a constant flow of numbers to prevent them from sinking. Historical precedent has proven that even with the advancement in social media, it takes years or even decades for talents like Robert Wun and Peter Do to be recognised. Knitwear dark horse PH5, for instance, finally rolled out their first fashion show at the New York Fashion Week last year after hosting presentations for the past nine years as they grappled with financial challenges. It’s an old chestnut for independent labels to pull out of or skip fashion calendars due to various reasons that eventually boil down to funds. Ironically, two of the four biggest fashion week calendars, New York and London, have always been dubbed the most accommodating cities for designers who are green to the scene. In fact, these fashion weeks are fuelled by young labels. The need is never one-sided; while the fashion industry actively seeks new blood, these emerging brands will need financial support and aid to find their feet before finally being acknowledged.

But how many tenths do a fashion brand need to go through? How much would they need to fork out before running out of juice to keep them going before being noticed by the industry? The musical chairs of creative directors among the Maisons with deep pockets is ongoing, and the absence of younger names in the rotation raises brows. Fashion critics and internet audiences are often quick to conclude that the younger creative director is to blame for the plummeting sales or the normalisation of luxury merchandise with subpar quality. While it’s not entirely wrong, it’s unfair to put everyone in the same box and it should not be the reason why young and emerging names are out of the conversation. Recognising talent is one thing; creating a space that accommodates them is another. For an industry that hangs its cap on the new talents (or the youth culture), it’s absurd to bury them in the ashes before they
even grow their wings.

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