"If the industry is to survive, we can't work in a self-feeding, inward-looking circle of the privileged. We must look wider than that. I love floaty gowns on a catwalk, but we need more than that if fashion is to be relevant." - Stefano Pilati, Creative Director, Yves Saint Laurent
"Excessive shopping is out. There is way too much going on in the world right now to have to take the time to think about clothes." - Julie Gilhart, fashion Director, Barneys New York
"In the times we are living in, I think the guarantee of quality and stability of the big brands is what will survive in the end." - Karl Largerfeld
"I live in a pretty simple way. I'm not the type of person who would buy a Ferrari or a very large hat." - Ivanka Trump, explaining why she won't be cutting back during the economic downturn
*All quotes taken from TIMES Style & Design FW08 issue.