Christian Siriano Feels the Recession
With his career just getting off the ground, fashion designer Christian Siriano felt the weight of the 2008 recession as much as the rest of the country. With labels and brands less willing to spend, Siriano had to work even harder to succeed.
- [Commentator] This market is like nothing I've ever seen.
- [Announcer] The complete lack of confidence
in Bear Stearns, that run on the bank...
- 2008 was a tough time for the industry
because you did have this economic crash
and fashion felt it very hard.
So to be starting a business in 2008,
he had another hurdle to get over.
- The day Lehman Brothers crashed
was my very first appointment with Saks, and they canceled.
But it was crazy because other companies
were like so depressed because last year,
they did 10 million and this year they're gonna do two.
Well for me, I didn't do anything last year,
so I could only move up.
- When you're young and you're small,
you're the stock boy, you're the designer,
you're the salesperson, you're everything.
- [Carlos] So when you say this is brutal?
- Listen, it's just brutal!
It's tough, everything is a challenge.
Every part of the business is hard.
You know, shipping to retailers,
making 10,000 units of a dress.
Think about that, 10,000 units, that's a small order.
Some of our product, it's 500,000 units.
Let's say all the zippers on 500,000 units are gold,
but they need to be silver. What happens?
Your order is canceled, you just lost $10 million, you're out.