Department stores are dead, they just don’t know it yet. No one under the age of 40 with any options will take an escalator to shop.
The high street is in big trouble and can’t compete with online brands. Fashion week has as well crisis for its pure existence.
Many designers stopped showing at fashion shows e.g. Ralph Lauren and the latest one Tom Ford. He showed his in LA instead- why because that was where all the buzz, media and celebrity were.
The traditional way that the apparel industry has run its course—it’s gone forever now.
The future is circular. We will shop and keep what will reflect our build and life style. The rest we will rent. Retailers and designer will change to a made order business model.
The business growth won’t come any more from mass production and selling as many items as possible. But it will come from quality, mending and returning garments back to the retailer .
And yes, maybe the massive fashion houses will become a much smaller one.