Fashion in the aftermath of the crisis

Bella HadidThe immaculate profile makes the cover of Vogue The latest Greek issue which marks the return of the fashion magazine to the country. Surrounded by classic marble statues, the model transforms into a Hellenic goddess and ambassador for the 26th international edition of the fashion magazine’s relaunch after a seven-year hiatus. This move could be understood as a strategic decision made by an editorial group, but in reality it is part of a broader economic recovery. As Greek mythology tells it, the phoenix is ​​reborn from its ashes. And Greece is emerging from the crisis. A new generation of millennials, whose living conditions have become worse than those of their parents due to European Commission rules, is taking over. Without going any further, Thaleia Karafyllidou, 29, born in Thessaloniki, became the youngest editor-in-chief in the history of Vogue. Its first evocative title is “Regards sur l’avenir”. But is Greece really capable of dreaming of fashion again?

In search of answers, Fashionnetwork.com traveled to Greece for the launch of Vogue Hellas and the 25th edition of Athens Xclusive Designers Week (AXDW), which took place in the Greek capital from March 27 to April 2. The event was led by Managing Director Tonia Fouseki and was one of the final stops in the international world. Fashion Week calendar. Although he has previously featured international fashion designers such as Zuhair Murad, the event is mainly dedicated to supporting and promoting local names both within and outside its borders, with the participation of a large number of potential buyers from Greece, Italy and Israel. Six days and up to 27 fashion shows provided the ideal setting for a panoramic view of the sector.

INCLUSIVE MODE FROM ZAPPEION TO INSTAGRAM

To understand Greek fashion, the story of Vassilis Zoulias is essential. The famous fashion editor has become a national icon since he opened his couture and bridal fashion boutique in Athens’ Old Town in 2002. In the National Garden of Athens, the designer presented his first collection of ready-to-wear, an acclaimed line. inspired by French style and characterized by office wear and cocktail dresses, presented alongside designer hats by Katerina Karoussos. The models paraded with dogs from the “Save a Greek Stray” association, which is responsible for finding new homes for the dogs after the show.

This wasn’t the only inclusive social initiative that took place during the week. AXDW demonstrated, as do other smaller fashion weeks outside of the four major capitals, that being small can be a tool to support freedom of expression. Inside the Zappeion, a conference and exhibition center built for the modern Olympic Games, Dimitris Strepkos celebrated his 10th anniversary as a fashion designer. Her brand, Celebrity Skin, promoted the idea of ​​inclusion by selecting a mixed group of people including models of all ages and body types, as well as models in wheelchairs. This modernity and diversity were found in most of the fashion shows, carried by a joy that made the catwalk vibrate, as in the colorful collection of Mindy by Iliana with gypsy atmospheres and numerous prints, or even in the fashion brand’s fashion show. for men Giannetos Handmade.

On a more creative level, another local star boasts interesting artistic potential without neglecting the commercial side. It was Myrto Dramountani who surprised the public with “Illusions”, his latest collection of minimalist shapes, geometric cuts and 3D textures on crepe, silk and leather. Meanwhile, designers Tassos Mitropoulos and Kathy Heydels stood out in the evening wear segment with styles ranging from feminine to lightly bohemian fluidity.

The highlight of the event came at the end of the day on Sunday March 31 with the new MI-RO collection. For the occasion, the designer duo composed of Dimitris Mastrokalos and Giannis Raptis chose the Greek School of Fine Arts as the exhibition venue. Against a backdrop of an industrial space dominated by anti-capitalist street art in response to Eurozone rules, the country’s most successful fashion brand presented its latest collection. “It’s probably the most commercial and profitable brand in Greece,” said a local buyer. The collection, full of tulle, exaggerated volumes, brightness and daring cuts, breathes new life into the glamor of the 80s. A Greek reinterpretation of Saint Laurent And Alexandre Vauthierthe nighttime styles of , intended to seduce the influencers and celebrities who filled the front row thanks to their Instagram success.

IS THERE A FUTURE FOR GREECE AFTER AUSTERITY?

Greece has had a difficult few years. In 2018, after eight difficult years of crisis, the country exited the third European Union bailout program. It was a $98 billion bailout, approved in 2015, when the country’s unemployment rate reached 24.4%. And this was another consequence of the crisis, which resulted in a 20% fall in domestic GDP between 2008 and 2014, when its public debt reached 316 billion euros, 185% of the DGP. “We are emerging, but it will take time,” is the idea shared by many people on the street when asked if the end of the crisis has had any effects on their daily lives. Analysts agree, predicting it will take the country a decade before everything returns to normal. And Greek Prime Minister Alexis Tsipras insists that economic improvements must benefit the population, starting with jobs. Last December, the unemployment rate stood at 18% and the minimum wage was set at 683 euros per month.

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The complex economic situation has had a significant impact on the domestic garment sector in recent years. According to the latest ICEX data, the number of companies in the sector decreased significantly between 2014 and 2015, from 7,168 to 4,879. In 2017, the country continues to depend to a large extent on other countries, with an clothing trade balance of 30.23% and a footwear trade balance of 20.94%. In the same year, Greek clothing exports reached 318.75 million euros, compared to 1.05 billion euros of imports, dominated by Spain (229 million euros), Italy (168 million euros) and China (95 million euros). But according to Eirini Lykou, buyer for the Mystore platform, “the main fashion market in Greece is local. Exports are very complicated for designers.

Inditex and H&M dominate the market with 16.4% and 6.8% share respectively, followed by Adidas, NikeGreek brand BSB, Benetton And Calzedonia, which hold market shares ranging from 3% to 1.9%. Data shows that market developments are moving towards an increasingly concentrated structure, which is detrimental to small businesses. This is already reflected in Ermuo, Athens’ main shopping street, virtually dominated by foreign brands.

But, even as clothing sales show a positive trend, with an expected growth of 3% between 2019 and 2022, demand for discounted clothing is expected to increase, giving fast fashion multinationals a clear advantage over smaller ones. brands and allows expansion. channels across the country.

“National designers are currently having difficulty selling in Greece. That’s why, to lower prices, they try to create collections with cheaper materials,” commented Eirini Lykou about the challenges Greek designers face when it comes to offering a high-quality product. quality and cost effective.

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In the textile sector, production levels have declined significantly since the start of the crisis, despite the important role that the industry has always played in Greece, notably cotton. Imports are growing, reaching 231.2 million in 2017, with products mainly coming from China, Turkey and Italy. Together, these countries have a market share of 47%. Meanwhile, Greek shoe manufacturing companies, mainly based in Athens and Thessaloniki, are producing less and less. Indeed, in 2017 the country declared exports worth 106.43 million euros, while imports, mainly from China, Belgium and Spain, reached 508.15 million euros. ‘euros. The textile market, like that of clothing, is dominated by large multinationals like Nike and Adidas, which hold 16.7% and 15.2% market share respectively, while Greek companies like Lemonis F&K or Tsakiris Mallas have a more modest market share of 3.6%.

So how can local fashion brands grow? First via the online channel, which is gradually gaining ground with sustained growth in recent years (up 125% between 2014 and 2016, according to ICEX data). Second, through initiatives to support and encourage the new generation of designers.

“Improving design schools is fundamental,” said the editor-in-chief of Conde Nast The international Omi Chowdhury, who knows the market after several seasons at AXDW (Athens Xclusive Designers Week). He is also present on this occasion to celebrate the launch of Vogue in the country. “The future lies in supporting emerging countries,” he said.

After a long crisis, Greece is starting to see the light at the end of the tunnel. And with that comes the opportunity to rebuild the country’s immediate future, as well as a competitive local fashion scene. This would have been unthinkable ten years ago.