NYC Fashion Week kicks off this Thursday, no doubt with the hopes of enticing consumers to open up pocket books and spend their hard earned money on the latest and greatest fashion trends. With the current slump in the economy and continued drop of profitability in the fashion industry it’s important to reach out directly to these consumers to invite them in on the idea of attainable luxury. And, what better way to do this than through social media.

For example, these high profile brands at this year’s NYC Fashion Week can highlight their events on Facebook and Twitter and invite their fans to participate in an open dialogue on the latest looks. Perhaps even hold a contest/sweepstakes allowing fans to enter for a chance to attend one of these ultra exclusive runway events. They can also upload behind the scenes video from the runway shows on YouTube giving viewers access to exclusive content.

BCBGMAXAZRIA does a great job of marketing themselves and their fashion shows on their Facebook page. They have a Fashion Week sweepstakes in which they invite their fans to enter to win tickets to attend the BCBGMAXAZRIA Runway show in February 2010 in New York. They also do a great job of engaging their followers on Twitter.

Do not be hesitant to embrace social marketing just because you are a luxury brand selling high end products. It’s important now more than ever to listen and participate in conversations. For more tips, check out Jeremiah Owyang’s blog post on Five Ways Luxury Brands Can Overcome the Conundrum of Social Marketing.