Kate Moss has been a trend-setter since the tender age of 15. Throughout her long and ingeniously plotted career the chameleon with mesmerizing eyes has captivated our imaginations. Whether posing in an $8,000 bouclé Chanel suit or a simple mass-produced H&M jersey dress, Kate’s inimitable allure has driven millions to covet the dreams she peddles. But since images of her snorting cocaine in a recording studio hit the newsstands last week, Britain’s most recognizable supermodel’s career has been unraveling. As the image and company (Skate) Kate Moss worked so hard to build falls to pieces, people are left to wonder if the reaction to the news has been exaggerated. After all, Kate’s addictive demons have been around for quite some time.

Before the media had a field day with the recent scandal, the symbol of skinny glamour, had openly confessed to the world that she had never walked down a runway sober, “not even at ten in the morning.” Furthermore, Kate has been a self-proclaimed member of both Alcoholics and Narcotics Anonymous—support groups that provide life-long assistance for individuals battling addiction. So what made the recent developments in her life so newsworthy?

Despite the fact that Ms. Moss continued to smoke upwards of 80 cigarettes per day, and insisted on dating singer/songwriter Peter Doherty, who recently served time on drug-related charges, many believed the model extraordinaire was a reformed woman. She had given birth to a lovely daughter, Lila Grace, from a previous relationship and had every reason to lead an honest, sober, and stable life. Even her refusal to break things off with notorious bad-boy Peter was seen as a valiant effort to help her beloved kick the habit. Thus, it was not so much Kate’s association with drugs, but rather the dissipation of her image as a strong role model and proud mom, triumphant over substance abuse, that lost her paradise. In light of her haunting images, inhaling a white substance through a straw, Moss’s employers and the public simply felt deceived and betrayed.

The other reason why Kate Moss has been the number one item on the international agenda (even in the wake of Katrina and the eve of Rita) is the loss of her high profile contracts with retail giants like Chanel, Burberry, Cavalli, and H&M. A spokeswoman for Roberto Cavalli (Italian designer famous for his theatrical clothes embellished with crystals, feathers, and embroideries) declared, “He is very heated up about this because he is totally against drugs,” and continued, “He certainly had no clue that there was a problem.” On a similar note, French fashion house Chanel, spearheaded by Karl Lagerfeld, declared the company had “no plans” to renew Kate’s contract as the face of its Coco Mademoiselle perfume. As all this was coming to pass Burberry announced Moss was dropped from its autumn advertising campaign. Eventually, only Dior, one out of the seven companies recently associated with Kate, declined to comment on the current state of affairs surrounding the 31-year-old model.

However, taking a financial hit or being publicly humiliated is the least of Kate’s problems. The British police and the social services have started separate investigations based on the recent allegations. In fact, looming in Moss’s near future is a nerve-wrecking interview with the authorities during which she will have to convince experts she is fit to care for her two-year-old.

Post her crucifixion Kate Moss is scrambling for redemption. “I take full responsibility for my actions” Moss declared in a statement on September 22nd and added, “I also accept that there are various personal issues that I need to address and have started taking the difficult, yet necessary, steps to resolve them.” The exhausted and broken model concluded her confession by saying, "I want to apologize to all of the people I have let down because of my behavior which has reflected badly on my family, friends, co-workers, business associates and others. I am trying to be positive, and the support and love I have received are invaluable."

It is certain--fashion’s golden girl has fallen from grace. While the few and far in between, like French fashion icon Catherine Deneuve, have voiced support for Moss by arguing her private life is nobody else's business, the fact remains that the majority of people, especially investors, have little tolerance for such behavior. There is a new conservatism permeating popular culture which exalts clean living. Long gone are the days of doing drugs and pontificating about free love. The brands Kate represented, especially Chanel and Burberry, are offering high quality products, attached to images of people excellent in mind, body and character. The luxury good industry is a multi-billion dollar enterprise, dominated by financiers, making important calls behind closed doors. When profits are on the line there is no room for error and with her reckless action Kate committed a capital mistake. Only to make things worse her blunder was documented and publicly aired, leaving no room for doubt and excuses.