Recession Affects UK Streetwear
Quite a few people have noticed the move of the well known and loved BAPE store off Carnaby Street, which people used to queue outside for hours on the day a new line was being released. The BAPE lines have now been moved to pop-up stores in Dover Street Market, a place not many of the regular customers are all too comfortable visiting. As well as this, another Japanese street wear brand, Neighborhood, has been taken off the rails at well-known store, The Hideout.
This is mainly due to the decreasing value of the pound in comparison to the Yen. That’s good news for Japanese property investors looking to buy over here, but bad news for their factories and employees.
The main worry here is what looks to be one of the first obvious signs of the economic crisis hitting the creative centre of London.