As designers put the finishing touches to their collections ahead of New York fashion week, the recession is on everyone's minds.
The bleak economic outlook is forcing some of the city's stalwart designers to re-think how they show their clothes.
Nicole Phelps, Executive Editor of Style.com and designer Mara Hoffman says nearly every designer is feeling the pinch.
SOUNDBITE: Executive Editor Of Style.Com Nicole Phelps, saying (English):
"Marc Jacobs who is known for his bold over the top show cut his invite list in half other designers are downscaling moving from the tent in the Bryant Park area to a smaller venue."
SOUNDBITE: Mara Hoffman, Designer, saying (English):
"We've definitely felt it, our sales have been hit, we're dealing with stores closing every day. People bouncing their shipments back, their checks are bouncing, it's a really hard business right now."
But there is a bright spot amongst all the economic woes - the accessories market.
The accessories editor for fashion journal Women's Wear Daily says you may not be able to afford a full designer outfit but you can still buy into the brand.
SOUNDBITE: Roxanne Robinson-Escriout, Women's Wear Daily Senior Accessories Editor, saying (English):
"I think inherently the aspect of accessories is they're that added extra touch. They have the ability to transform a wardrobe. So I think even if the price ticket doesn't reflect it, mentally going into it you don't think you're making as big a purchase."
Calvin Klein, Donna Karan and Marc Jacobs are amongst the designers to be showing with fashion week which ends on Friday, February 20.
Cindy Martin, Reuters