A model presents a creation at the BCBG Max Azria Spring 2010 collection during New York Fashion Week Sept. 10, 2009. [Xinhua/Reuters]

"Everybody is focused on the prices and making sure that nothing is out of line with what's going on in the world," she added.

This season, the grand opening of New York's Fashion Week is accompanied by Fashion's Night Out, in which some 700 retailers and designers are staying open late and pulling out every trick in the book to encourage consumer spending -- a plan to save the industry, no doubt.

Mallis is largely considered the mastermind behind New York's Fashion Week, which was organized in 1993 under the auspices of the Council of Fashion Designers of America (CFDA).

Then, it was known as "Seventh on Sixth," and provided a platform for American designers to become competitive players within the global fashion community, especially with French designers, who were considered the crme de la crme.

Acquired by IMG in July 2001 and now called IMG Fashion, the company under Mallis' leadership currently produces Mercedes-Benz Fashion Week in New York and Mercedes-Benz Fashion Week Miami Swim.

This year's semi-annual New York Fashion Week, which is followed by fashion weeks in London, Milan and Paris, features 63 shows in three tent in Bryant Park, as well as 12 off-site shows around the city.

"I anticipate a lot of pretty clothes (and) a lot of colorful clothes," said Mallis. "I don't know why but I'm thinking we're going to see prints and dresses."

Besides prints, bright colors and an enticing mix between feminine and masculine styles, another noticeable trend has hit the runways -- a growing number of Asian designers, a group Mallis said is commonly referred to as "The Asian Mafia."

"They are some of the most talented designers working right now in our industry, everybody from Jason Wu and Doo Ri to Philip Lim to Derek Lam and Richard Chai," she said.

There's also another new trend for MBFW on the horizon.

Mallis, who is credited with bringing Fashion Week to Bryant Park, said the 2010 show will take place at Lincoln Center, the home of the Metropolitan Opera, the New York City Ballet, and the New York Philharmonic Orchestra.

With a note of acceptance in her voice, Mallis said that after 13 years, Fashion Week had "worn out" its welcome at Bryant Park.

Nevertheless, as fashion tends to do, Mallis put a bright and glossy sheen on MBFW's new home.

"We'll be moving to a world class, iconic location and fashion will be able to have its collections on platforms and stages, rubbing shoulders with opera and the ballet, theater and film and some of the best arts in the world," she said. "How bad could that be?"