Fashion's Night Out a Boon for Brands in Struggling Economy
In what began as an effort to increase shopping during the recession in 2009 has become an invaluable staple for participants in Fashion’s Night Out (FNO), which took place Thursday.
Anna Wintour, editor-in-chief of Vogue magazine, thought of the concept when a recession threatened the world of retail.
Although FNO started as a celebrity event in New York City, it later spiraled into a global shopping party that takes place during the renowned New York Fashion Week.
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Since its inception, Milan, Los Angeles, Miami, Dallas, Mexico City and Adelaide, Australia, are just some cities that have participated in FNO events.
According to designer Tommy Hilfiger, the night is about more than just shopping.
"Anna Wintour came up with such a genius idea, and it actually worked," Hilfiger told The Associated Press. "I think it's not just about the shopping that night, I think it's the idea of getting out there - exposing the fact that fashion can be fun. ... It doesn't have to be this serious thing that's too expensive. Fashion and shopping doesn't have to be anything but fun."
Michael McNamara, vice president of research and analysis for MasterCard Advisors’ SpendingPulse, told ABC News that last year's event was a success.
The vice president of the company that keeps track of both cash and credit transactions noted that sales were up by two percent at last year's FNO event.
LypSyl, a brand of lip balm, sponsored FNO events and has since admitted to a flourishing business.
"We started with a sponsoring this event last year and since then its one of the fastest growing lip brands in the market," a spokeswoman for the brand told The Christian Post. "As a personal lip care brand we like the association with fashion, it works really well. It's a great way to get our product out with all types of people who are interested in caring for themselves and looking great, and we just got a lot of excitement associated with this event."
Although the event began to boost sales in the retail industry, Hilfiger said the most important element for him is connecting with his clients.
"To see them and hear directly from them is pretty cool," Hilfiger told the AP.
