Fashion World Tightens Its Belt

(CBS)  Every spring, the spotlight hits the runway for a look at the fall season's new trends. But this Fashion Week, many designers are tailoring their presentations to the economy, dropping the catwalk altogether.

Designer Betsey Johnson is showing her new collection inside her design studio. She gave CBS News correspondent Michelle Miller a sneak peak.

"We're kind of in the depression groove and it is very nice that I can save about two-thirds of my typical budget," Johnson said. "I don't like to talk money because everybody always lies."

"Not you though?" Miller asked.

"Not me," Johnson said, laughing.

No longer able to ignore the economic downturn, designers are cutting back.

There are four fewer runway shows this year compared to last spring. Dismal holiday sales, where luxury retail fell 34 percent from the year before, didn't help.

"This season is not about having the most glittery celebs in your front row," said Cindi Leive, the editor in chief of Glamour magazine. "It is about showing the buyers something that they can bring into stores and that women will want to wear."

Opting out of a live show, Alice Temperley is showcasing her spring line on video before it hits the Web.

But others, like design team Cushnie et Ochs, are keeping with tradition, thanks in part to a $25,000 grant from the Ecco Domani Fashion Foundation.

"It's just lightened the burden," said Carly Cushnie.

Cushnie and Ochs hit the fashion scene last fall, just as the economy tanked.

At 66, Johnson has more than four decades of experience weathering tough times.

"The whole time zone of my '80s vintage pretty much was really bad," Johnson said. "I sold everything off in little $10 bins in our stores."

Staying lean over the next few years, Johnson said, is her recipe for survival.

[credibility2]

It would be rather naive to think that the current economic downturn hasn''t impacted all segments (industry, consumers, etc.) of the economy and our society. For some to mock or ridicule one versus the other is also very immature and juvenile.

[exusmcsgt]

Fashion World Tightens Its Belt
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Considering the aneroxic/coke-head women that model these days, I''m not sure there are any notches left on the belt to tighten......lol.

[rnbwprsm5]

'' .. there''s trillions years and millions dollars of criticised and insulted war babys with no market share or lunch or armor or weapons or alcohol or parades danceing songs at all the street cornets and trail crossings about how life is forever and life is magical and life is full of free consensual pornographic food and medicine and sponge bus rides and impromptu beds and baths, and there''s trillions years and millions dollars of war sheros with market share and lunch and armor and weapons and alcohol and parades danceing songs at all the street cornets and trail crossings about how raped dead war babys would have no lifes if it wasn''t for the war sheros keeping them all out of trouble with endless supplys of free consensual pornographic insults and criticisms .. ''

'' .. if we were the only ones what could afford time or resources to invent, near nothing would ever be invented .. ''

[shanev137]

There are four fewer runway shows this year compared to last spring.

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OMG, I''m going to have to go kill myself now.

[cheteunice]

Let''s hope it doesn''t come back!

[smt451d]

Who''s going to model Hillary''s horse blankets?