Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
Earlier this month, Karl Lagerfeld told the Times that the recession had brought about a new era of modesty, but Giorgio Armani isn't buying it: "If you react to the crisis, you can't produce high fashion. High fashion is like watching a beautiful film, it belongs to a different world." [Reuters; Previously]