The recession is effecting everything around us, even the fashion industry. High fashion models are now being forced to take a paycut that dropped down 30%. Many of the top agencies also are putting their models on more editorial print campaigns for companies such as Target and Macys, whereas they previously were runway models for brands such as Dolce Gabbana. Famed Conde Nast fashion magazines such as Vogue and W are taking a beating at 24.5 % in the fourth quarter.
Source: Modelclue
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