Bye, Bye Phi

December 22, 2009 | Tags: Uncategorized 

And another one bites the dust.  Due to the nasty recession, Phi, the label started by Susan Dell in 2003, has announced that their latest Pre-Spring collection will be their last.  The Phi boutique in NYC is also expected to close down by the end of this month.  “It’s a really challenging climate right now for luxury goods. There is not so much confidence in that market going forward,” said chief executive officer Julia Hansen.  Do you agree that there’s no room for luxury items these days?  Would you go out and make a big purchase with this economy?  What really saddens us is the fact that a large number of talents are facing such discouragements, and are forced to exit the fashion forum without receiving the praise they deserve.  Honestly, we agree that prices have sky-rocketed these past years (designer luxury bags used to cost only $600 in the 90s!), our theory is if designer brands want longevity, they have to re-consider price points.  End of statement.

*Images courtesy of fabsugar.com.  Graphics courtesy of Chic Intuition LLC.

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