This might be the first interesting thing we've read about the recession since it started to take over the country's news flow:
Some design companies, like Lutz & Patmos, have started hiring factors - people who asses boutiques' credit worthiness so that designers can decide whether they're willing to accept an order from a particular vendor in order to avoid last-minute order cancellations, a rising problem in the current economic state. These factors will also act as sort of collections agencies, to make sure that retail buyers pay their bills to designers on time.
So, good news: Higher job demand for people who want to be factors, and better order security for designers.
Bad news: It sounds like it's going to be tough to get cool, smaller designers into your boutique - especially if you're a cool, small boutique.
