The credit crunch affects everyone even those  in the world of fashion. WWD has reported that Vera Wang, Carmen Marc Valvo, DKNY  and Betsey Johnson are not showing their collections at Bryant Park during New York Fashion Week. The Venue typically cost at least £65,000 ($100,000) to put on  a show. Its not just New York Fashion Week that is affected.

In the UK the credit crunch is also making an impact. According to Fashion Copious, Alice Temperley has canceled her Autumn / Winter runway show due to "Economic reasons".

Even Valentino is skipping  Men's Fashion Week in Paris. The future is looking bleak for Fashion Week. I am expecting more  drop outs as it  approaches.