What happens to high-end fashion and haute couture during the economic crisis? As any other luxury industry, also popular designer labels such as Prada and Gucci do not remain unaffected. Until now well-known and high-class labels have satisfied the demand for lavish and extravagant (life)styles. However, the last year has seen the demand for luxury products decrease dramatically.

According to The Observer there are two reasons for this development - one reason is cruel reality: fewer people can afford to indulge themselves in high-fashion. The second but equally important reason is that it is simply not fashionable during the crisis to spend so much money on luxury products. It is hip to be a recessionista! Be creative, reinvent your style, mix and match, and recycle what you got! That’s the guiding fashion slogan for now.

This “recessionista trend” makes co-operations between high street fashion retailers and luxury brands even more important than they already are. In 2004, Karl Lagerfeld and H&M were the first ones to engage in such partnership. A famous designer launching a collection for a high street fashion retailer. The collection was a huge success for both parties. On one hand Lagerfeld significantly increased his publicity and brand awareness in the fashion mass market. On the other hand, H&M strengthened its position as a fashion trendsetter. Moreover, the co-operation has been a huge sales success. Barely, any marketing co-operation in the fashion industry has received the same kind of attention as H&M’s partnership with Karl Lagerfeld. The demand for the collection outperformed the most audacious expectations. Customers were waiting in line long before the stores even opened.

The success of haute couture designers and fashion retailers working hand in hand has triggered a whole series of co-operations e.g. GAP and Pierre Hardy, H&M and Stella McCartney – just to name a few. But now, this development has acquired even greater magnitude against the background of the economic crisis. Famous designers such as Shipley & Halmos, Matthew Williamson and Jil Sander have all entered co-operations with fashion discounters H&M or its Japanese counterpart Uniqlo.

Well, it appears as if the recessionista does not have to abstain from fashion, but can continue to indulge in it at a lower price.