Le Dernier Cri: The economics of fashion

As the U.S. dollar falls further and further into oblivion, the fashion world continues to see its prices rise. The products are the same, but it seems as if prices are inching higher and higher for American consumers almost daily. \nImported fashion pieces have always been expensive. A pair of Christian Louboutin pumps will set you back a good $600, and that is for a very simple pair. It seems steep, but when you think about what you are getting for that price, a lifelong pair of amazing shoes, it doesn’t seem so bad.\nNow imagine the same pair of pumps, but imagine they only cost $400. A bargain! With a bad economy, and the dollar slipping every day, I doubt we will see those Louboutins at $400 again for a long time.\nNow, what is a gal from a humble upbringing to do when her coveted designer duds are suddenly costing more than she ever imagined? Buy knockoffs? Aspire to marry rich? \nWhile both are viable solutions, they kind of go against the image I have in my mind of the fashionable, independent, modern woman. She is not the sort of woman who would dodge in and out of Chinatown looking for the perfect Balenciaga knockoff, or hang out at society gatherings, touting what a good wife and mother she would be. No, she is a woman who buys her own handbags and waits for a man who can keep up with her.\nShe is also a woman who invests carefully. She does not let go of her hard-earned money easily. This is the same advice I would give to anyone who wants to be a fashionista but has a modest budget. Look at buying expensive pieces the same way you would look at investing in the stock market. Spend your money wisely.\nI know this is easier said than done. I have spent money on silly items many times, only to realize that I need that cash more than I need that necklace. But if you buy trendy, cheaper pieces and save the expensive stuff for when you land that huge interview with your dream publication, your wallet will not suffer.\nAlso, think about the cost per wear of your items. A $150 pair of Seven for All Mankind jeans might seem expensive, but when you think about the hundreds of wears you will get from those jeans, they suddenly seem very reasonable. It’s just simple math: The price divided by the estimated number of wears equals your cost, and the only thing left to do is evaluate whether that cost is worth it to you.\nFashion is expensive. But it all comes down to being smart with your money and investing wisely. Don’t buy the $1,500 handbag that will be out of style next season; instead, save some of that money, and buy the classic bag that will never be out of style. Use your best judgment, and you will always look good.