Recession on the runway

(02:01) Report

Sep. 5 - New York Fashion Week opens with designers interpreting the troubled economy in different ways.

Meanwhile, consulting firm Robert Burke Associates sees 2008 luxury sales up only 5 percent after years of 10 percent gains.

Manoush Zomorodi reports from New York.

SOUNDBITES:

  • Nicole Phelps, Executive Editor, Style.com
  • Thuy Diep, Designer

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