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While mass-market retailers felt pressure alongside most companies trading on Wall Street in late 2008, the credit crisis and economic strife that hit America has left the fashion design world relatively unscathed. According to financial analysts, economic slowdowns affect fashion careers differently than other professions. In some cases, layoffs from other sectors can encourage creative individuals to make the leap into fashion jobs.

Retailers Turn Up the Heat

At mall retailers and mass-market fashion design companies, retail merchandising is the key to surviving a tough fiscal year. Companies like Aeropostale and American Eagle Outfitters have lured marketers into fashion jobs that help consumers downshift from more expensive brands. By providing quality fashion design, fun shopping experiences, and value for money, successful retailers hope to capture shoppers' shrinking budgets from their more expensive peers.

Fashion Careers Jump from Wall Street to Madison Avenue

While some fashion design veterans may use the next year to brush up on their merchandising courses, some financial professionals have decided to turn their pink slips into fashion career green lights. Fears that one out of every five financial jobs may face layoffs in the next three years have spurred some bankers, analysts, and brokers to think about fashion jobs that lie closer to their true passions.

Fashion careers for former financial professionals can include marketing, design, and even retail development. For instance, David Frank traded his Wall Street office for a boutique in Westchester. The owner of David's Fine Menswear offers his clients a taste of "SoHo in the suburbs," making house calls to help his former colleagues look great at meetings.

Meanwhile, some of the fashion design world's most compelling new international names, like Iran's Mahla Zamani and the Philippines' Josie Natori, both launched fashion careers after leaving banking jobs. With an abundance of affordable fashion design courses, employees of at-risk financial firms might think about making similar moves to more stable careers.

Sources:

• Bodazey

• Inquirer

• MSNBC

• Smart Company

• WCBS

• Westchester Magazine

• Witan Jardine