The colour of no money
Think you wouldn’t be seen dead in burnt orange or jazzy pink? History suggests otherwise “The Lipstick Index” is a phrase coined by Leonard Lauder, chairman of the board at Estée Lauder, the cosmetics company: one he used to describe increased sales of cosmetics during the 2001 recession. That autumn, lipstick sales in America grew 11 per cent: the theory being that during tough times, women forgo big ticket items for smaller, everyday luxuries. Lipstick, then, became an economic barometer. Recession looms over us once again but don’t expect high-fives at the cosmetics companies this time round: there’s presumably less call for lipstick when you’re wearing a face mask. Still, other “recession fashion” findings from downturns in 1982 and 2010 are more nuanced than you might expect. Shoppers certainly displayed more caution than usual but it wasn’t all sackcloth and ashes. Mid-market shops selling replacement basics like denim and chinos struggled, as did über-trendy boutiques pushing statement clothing that would quickly go out of style. Higher-quality gear did better, both more traditional “investment pieces” and clothing that was on-trend, without being extreme. Colour, pattern, print, abstract design and tie-dye — plenty of examples of which you’ll find over these pages — found renewed appeal. “People are sick of not shopping,” one shop owner told
The New York Times in 2010. “People want a little joy in their lives.”