Modesty back in fashion as economy worsens?

So claims one USA Today reporter:

Modesty in young women's clothing is getting a boost from the dismal economy.

When consumer spending was in overdrive, retailers could sell to the masses and ignore the more muted voices asking for, say, a decent supply of sleeved shirts or prom dresses that show more fabric than skin.

Now, however, it's the rare retailer who's willing to take the chance of turning off any possible customer. Luxury-store clerks can no longer afford to look down at scruffy shoppers, and store owners of every sort are recognizing the one-size-fits-all approach to retail buying no longer works.

Whether it's more of a fiscal or moral shift, understated girls' clothing may indeed be making a comeback.

Even flashy Chanel designer Karl Lagerfeld declared "bling is over" and noted the economy is prompting a "new modesty," in an interview with the International Herald Tribune this year.

Retail consultant Ken Nisch says the trend is more moderation than modesty, but the effect may be the same. (USA Today)

I found it interesting how the reporter described the founding of Pure Fashion (a modesty-promoting organization), which is actually sponsored by Regnum Christi (underlining mine):

Pure Fashion has about 700 members who work as models at spring teen fashion shows, which attract about 11,000 people. The group has affiliates in 10 countries, and is signing new groups on its website, PureFashion.com.

Pure Fashion was an offshoot of a Catholic missionary organization, but Sharman believes its message resonates from Muslims to Orthodox Jews to parents who simply believe it shouldn't be hard to find shorts that completely cover the rear end.

Missionary to the fashionistas, apparently. There's plenty of hearts to convert:

"Everybody's seeing their bottom lines shrinking, so they want to sell to those who wear modest clothing, as well as those who want to wear it in a more risqué manner," says Hoffmann. "And that's fine with us."

I'm sure it is.

update: Pure Fashion is actually one of over a dozen programs sponsored by Regnum Christi.

update 2: I received a report from an RC member saying that Brenda Sharman claims Pure Fashion is "no longer directly affiliated with RC." I'm not sure what to make of that statement because their website still says PF is sponsored by RC and affiliated with their "Mission Network."

Can anyone add a clarification?