The fashion industry's old business model is out of style

The $300-billion fashion business is in the midst of an epic shake-up that is changing the way clothes are designed, marketed and purchased. The Internet -- the same force that has splintered the media and music industries -- is challenging the taste-making role of the fashion elite, a shift that is being accelerated by the rise of cheap chic and a recession that has blunted more-is-more spending.

By Booth Moore

September 13, 2009