Investment dressing

Rachel Wells
October 7, 2008

A model wears a skirt suit by Gucci at Milan Fashion Week
Photo: AFP

At around the same time the US House of Representatives voted to reject a $US700 billion bailout of Wall Street, on Monday, British fashion designer Vivienne Westwood was in Paris advising frock watchers to ride out the economic downturn by making their own clothes or dragging out ol' favourites.

''Do it yourself,'' she said in a statement handed out at Paris Fashion Week. ''Make necklaces out of safety pins and shawls from blankets, tablecloths, curtains, towels or a metre of fabric.'' It was the kind of advice that would have had fellow fashion designers shaking their heads in disbelief as they struggle to find new ways to sell expensive clothes in an increasingly gloomy economy.

Westwood's collection, which was remarkably restrained for a woman who has made a living out of selling the outrageous - she pioneered the punk movement, after all - featured models wrapped and draped, toga-style, in metres of cotton, silk and taffeta, straight from the roll. It looked more like a showcase of DIY fabrics than high-fashion.

While some of the world's luxury fashion houses may not have liked Westwood's message, she is not alone. Dozens of designers have resigned themselves to the fact that, as the economy continues to sour, even luxury consumers are likely to opt for "investment pieces" - that is, well-made, timeless classics - or as The Wall Street Journal's Christina Binkley puts it: "Clothing that will survive trends and frequent dry-cleaning."

Belted skirt suits, tailored trousers, blazers, pant suits, blouses and classic sheath dresses are among the key "investment pieces" to emerge from the latest round of spring/summer catwalk shows.

In Paris, the most classic collections turned up at Balmain - fitted sheath dresses, pencil skirts and square-shouldered tuxedo jackets and blazers; at Rajesh Pratap Singh - all long-sleeve sheaths, sleeveless shifts, and blouses tucked into tailored pants; and at Yohji Yamamoto - who channelled the bleak economic mood with black skirt suits, and classic white shirts, buttoned under black vests, and tucked into black trousers.

While one fashion scribe suggested John Galliano for Dior, who was raising hemlines as the markets plummeted, was "seemingly oblivious to the turbulence menacing the global economy", he was simply hedging his bets. He was backing his loyal following of recession-proof young starlets to buy his short and sheer "tribal chic" frocks, while also offering a handful of classic Hollywood red-carpet-sweepers - perfect for an "investment wardrobe".

At Milan, a week earlier, even more designers were opting for classic looks that could endure an economic downturn, rather than new looks that would lure consumers into store.

Among those who pinned their hopes on the enduring classics were Burberry - trench coats; Jil Sander - fringed sheaths and blazers; Bottega Veneta - roomy sheaths and pin-striped pant suits; D-Squared - Charlie's Angels-style pantsuits; Gucci - wearable boyish cotton and linen pantsuits with matching fedoras; and Prada - crushed pencil skirts.

At home, dozens of local designers are buying into the classics, too, to see them through any softening of the local economy. Lisa Ho - tailored trousers, blazers and silk sheaths; Sportscraft - tailored sheath and shirt dresses in prints and plains; Country Road - simple shift dresses; and Perri Cutten - shirt dresses, belted skirt suits and tailored pantsuits, are among those offering designs that will endure both disposable trends and dry cleaning.

With the economy showing no sign of improving any time soon, investment dressing is fast becoming the new black. In the September issue of American Harper's Bazaar, the editors dedicated two pages - squeezed between glossy ads for luxury fashion label Etro, and designer shoe brand Giuseppe Zanotti - to how to "recession-proof your wardrobe".

"Gucci or gas?" the headline screams, as the reporter goes on to outline ways to "keep your wardrobe fresh for less" by skipping disposable trends, sticking to your look, and buying cheap basics while splurging on big ticket items such as a classic coat. She does, however, forget to advise readers to a) "close their eyes", or b) "don't get sucked in", by the shiny advertisements for luxury labels splashed on every other page of the glossy monthly.

Even US Vogue editor Anna Wintour, a woman one would assume would be safe from the vagaries of the economy, looks to be tightening her designer belt. At the recent catwalk shows she adopted a strict sheath and skirtsuit dress code. Or perhaps, she, too, has simply fallen for the latest trend - "investment dressing".