The fashion industry and its trends are ever changing. At times this can be helpful for brands, but at other times brands that were once iconic and staples in the fashion industry are losing their appeal. Just last week on April 26th, 2012, Women’s Wear Daily reported that legendary fashion brand Betsey Johnson has filed Chapter 11 bankruptcy this week, and will be closing several of their stores. The brand was known for its owner and namesake, the zany and eccentric Betsey Johnson who created the label in 1974. The brand became famous for their capricious dresses and girly style. Johnson also was quite well-known for her infamous behavior during her fashion shows, often finishing the show with a cartwheel. Although it has been reported the brand will likely be closing 63 of their boutiques and laying off close to 350 employees, Johnson will stay at the helm of her company, whose financial debt was taken on by shoe conglomerate Steve Madden. Johnson will now be focusing on her more cost-effective brand that is sold at mass retailers like Macy’s.
But ol’ Betsey isn’t the only one hurting in this economy. Hip-Hop legend and entertainment industry guru Jay-Z is finding some trouble attracting buyers to his clothing line, Rocawear. Sales for the urban clothing brand have waned in recent years and Jay-Z is hoping to reinvigorate the brand this year with a few innovative deals. One of the campaigns involves the first-ever commercial for the brand, showcasing Jay-Z in a rags-to-riches type of story, while displaying the Rocawear clothing. The clothing brand also recently inked a deal with the New York Yankees for the 2012 season. Details of the partnership are soon to be revealed in the media.
For young men and women looking to learn how to become a model, paying attention to the trends and news in the fashion industry is a must. Top modeling agencies are an integral part of submitting models to be cast for runway shows for major brands and shows. For clothing brands that are having a tough time, they may look to more beginner models and open calls to cast talent for their upcoming fashion shows and campaigns.