Canceled Awards Shows Could Cost Fashion Biz

The writers' strike-canceled Golden Globes will hit designers and the fashion industry hard, reports the Wall Street Journal, citing design houses that rely on red carpet-strutters for priceless exposure that can reverberate for months and years. If a big star wears your dress, that's big money. "It's a crapshoot," says a consultant, "but the exposure can be worth millions of dollars."

In particular, red carpets can help small designers gain visibility, the Journal reports, describing how Reese Witherspoon helped launch designer Nina Ricci. And the prospect of a similarly canceled Oscars ceremony is an even bigger nightmare. "Oh, perish the thought!" says an In Style editor. (More Golden Globes stories.)