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"I'm reporting from Paris on the impact of the recession on the fashion industry. It's Fashion Week and all the movers and shakers are here. And everything looks just like it should at the big trade shows...

But it's not business as usual. Many say it's the quietest its been in years and this trader told me buyers are fussier than ever, unwilling to take risks.

But I've come here with a designer who can't even be in these trade halls. A stand here costs abut £15000 for the duration of the show. Jacob Kimmie's investors have dried up, and getting credit is impossible. But he's got to be in Paris. So he's come up with a novel solution...

This is Jacob is his hotel room. It's next door to where all the big shows are and he's hoping people will come and view his collection here. Other designers in the hotel are doing the same; the lobby has signs up saying which designer is in which room. It's credit crunch fashion. But so far, it's not really working... yesterday (Thursday) no-one came to see Jacob's little black dress with a kilometre of black satin ribbons, or his other designs.

The whole enterprise, which his business partner James says is a ''do or die venture,' rests on a Saudi Princess. She has promised to come on Friday afternoon... but will she make it? And if she does, will she buy? Tune in tonight to find out!"

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