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Fashion Week Leaves Sore Feet, Full Coffers

Fur flew, flatirons steamed, and platform shoes pounded the pavement all New York Fashion Week long. Now that the tents are folded, designers are—ideally—digging their heels into new-found business, and New York City is awash in cash.  

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New York Fashion Week and the fashion throngs that came with it have moved on to take their places at similar events in London, Milan, and Paris.

So, what kind of economic impact do these fashion designers, stylists, and media—more than 100,000 people from 34 countries, according to Time—leave behind for participants and the host city?

Here’s a look:

City Rakes It In: New York City Mayor Michael Bloomberg says Fashion Week, held twice a year, will generate $865 million for the Big Apple in 2012. That’s up from what it brought in before the recession: an estimated $773 million in 2007, thanks to the business brought to beneficiaries ranging from hotels and restaurants near the show venues to taxicabs, which this year encouraged passengers to shop for beauty supplies. And while it may be difficult for the city to recapture the level of bulk manufacturing it did years ago and make fashion a year-round economic engine, there are some good signs. At a press conference with Bloomberg, wrap-dress queen Diane von Furstenberg, who is also president of the council of Fashion Designers of America, said some manufacturers are returning to U.S. manufacturing now that costs are rising elsewhere.

Watch These Designers: While some reports criticized the season’s fall collections as being too tame and conservative, perhaps due to the lingering effects of the recession, a few designers got name-checked for being innovative—and even more importantly, impressing New York’s buyers. Women’s Wear Daily cited Jason Wu, Alexander Wang, Prabal Gurung, Thakoon Panichgul, Derek Lam, and Phillip Lim as being part of a “youth movement” that left buyers wanting more. What do they have in common? They’ve caught the right eyes, with Wu’s apparel, for example, being selected by first lady Michelle Obama.

Hats Off: If you’re an entrepreneur who sells hats, observing New York Fashion Week must have felt like watching the Super Bowl, with model after model charging down the runway in all sorts of hats: from big, fur numbers at Marc Jacobs to off-kilter asymmetrical ones on Donna Karan’s runways. Other big hits include leather and fur, which can be found on everything from hats and handbags to boots.


Teresa Novellino writes for Portfolio.com

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