How The Luxury Fashion Industry Became All Business

March 14, 2015 11:35 AM

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How The Luxury Fashion Industry Became All Business

Models walk the catwalk in March 2009 during one of Alexander McQueen's last shows, Ready-to-Wear Autumn/Winter 2009, in Paris. McQueen was one of several fashion designers elevated to prominence by Bernard Arnault, the French tycoon who transformed the business of high fashion.

Fashion Week looks glamorous, but as it drew to a close in Paris last Wednesday — following shows in New York, London and Milan — it became clear that the runway has become a racetrack.

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