The global slowdown is turning out to be the game changer for many luxury and hi-street fashion brands as the strategies are being contrived to restore the fading shades of green.

In an attempt to bear the brunt of recession, as China is slowing down and Europe is under great financial crunch, the brands like Diesel and Armani are making a shift to different businesses. High-end accessories seem to be one such trade where the luxury brands are planning to bank upon. If the reports of consultancy Bian & Co. are anything to go by then the category of accessories is the next big thing. The report states that accessories like leather belts and perfumes, which are more affordable than evening gowns, are the fastest growing category with in the luxury market expected to grow 5% this year from 13% in 2011 at constant exchange rates.

The entrepreneur like Renzo Rosso overtly expresses his concern about the slowdown and drops a hint of expanding his accessory business. Recently, at IHT summit Rosso also said that the world of jewellery fascinates him and he wants to enter the category.

Stating the potential markets for fashion brands he mentioned about extremity of fashion in Japan, and growing markets of Russia and Brazil.