As glamorous and sophisticated as they were last January, this season’s Haute Couture collections certainly expressed the Parisian Maisons’ financial difficulty to maintain such standards of luxury. The crisis is here to stay, deeply affecting all sectors of the economy  and even compromising the fortunes of clients who are less keen on making public demonstrations of wealth.

The mood was more reasonable: generally less embroidery, less feathers, crystals and pearls and m...

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