With the world in economic turmoil, the buzzwords these days of “bailout”, “recession”, “credit crunch”, “cost conscious” and so on, have now also hit the fashion world. The look is very much reminiscent of the depression era of the 30’s – tweeds, hats, waistcoats and grey, grey, grey, which is actually perfect for the autumn. Watch out for it in the high street shops like the Gap and H & M.

Also getting into the depression-era look, but not quite slumming it was D & G’s Spring 2009 collection which had the models decked in Deauville-inspired nautical pieces paired with modern touches like platforms and fishnets, strutting to the tune of “La Vie en Rose”.

And in Paris, where collections wrapped up just last week, talk of seriously slumping retail sales made everyone nervous, as reported by the associated press:

“Honestly, we don’t know. It’s all a big guessing game,” said Ronald L. Frasch, president and chief merchandising officer for Saks Inc. The executive described the economic crisis affecting the North American retail sector as “maybe the worst I’ve ever seen.”

“Clearly, the ones who are in the best position are the ones who have the strongest brand names. The ones who have the most difficulty are the ones who are either beginning to develop or trying to get their goods onto the market,” Frasch said.

Popular items were the swimsuit-wrap dresses by Jean Paul Gaultier – two designer peices for the price of one!