Monthly Archives: May 2011

Mutually assured publicity

May 31, 2011 5:26 pm by Vanessa Friedman

As promised, I’ve been thinking more about the LVMH/Hermès war of words, which is part of LVMH’s long, drawn-out takeover push for its smaller rival. In particular I’ve been musing on what Pierre Godé, vice-chairman of LVMH, said yesterday at the Hermès AGM, and whether or not it should be taken at face value. My answer is…not entirely.

Wow. Bet that surprised you.

Continue reading: “Mutually assured publicity”

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Posted in Luxury goods |

LVMH vs Hermes: round 6

May 30, 2011 9:37 pm by Vanessa Friedman

Ooooh, things are heating up in the heavyweight bout of name-calling that is the LVMH/Hermes relationship. At the Hermes AGM in Paris on Monday, Pierre Godé, Vice-Chairman of LVMH, and one of Bernard Arnault’s closest and oldest advisors, stood up and made the following statement, which LVMH then emailed around for those of us who sadly could not be there. It’s reproduced in full.

“This morning, Le Figaro published an interview with Hermes Président Bertrand Puech, in which he accuses LVMH of wishing to destabilise family shareholders, staff and suppliers – all allegations which I formally deny.  In fact, this AGM is as good an occasion as any to discuss these points, dispel some myths and correct misconceptions.

Continue reading: “LVMH vs Hermes: round 6″

Posted in Luxury goods |
From FT.com May 27, 2011

When did fashion become the go-to second career for celebrities in need of an Act II? It has crept up on us, like all trends, starting with a sighting here – Sarah Jessica Parker prolonging her role in the public eye between Sex and the City via Halston Heritage – and a campaign there: Björn Borg finding life after tennis in athletic wear. Then, suddenly, it’s everywhere: Emma Watson growing up via niche collections with Alberta Ferretti and People Tree; Justin Timberlake getting elegant with William Rast; Ashley and Mary-Kate Olsen re-inventing themselves as serious designers with The Row, and ditto Victoria Beckham.

Posted in Fashion, Hollywood |

The fight for fashion week supremacy

May 27, 2011 5:19 pm by Vanessa Friedman

Mirror, mirror on the wall, who has the best fashion week of all?

Such appears to be the refrain of the moment in Paris and Milan. Perhaps it is because of the historic rivalry. It’s like siblings: Who is better? Bigger? More creative? Who knows more powerful people? Who gets more attention? Perhaps it is because lately it seems as if every country is starting at least one, if not two, fashion weeks of their own, but Milan and Paris seem to be doing their utmost to add more designers to their schedule, thereby increasing their reach and power and asserting their primacy in this notably hierarchical world.

I mean, this is an industry obsessed with the front row. The machinations are not exactly subtle.

Continue reading: “The fight for fashion week supremacy”

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Posted in Fashion |

The new special relationship: it’s not what you think

May 26, 2011 5:34 pm by Vanessa Friedman

Diego Della Valle, chairman of Tod’s Group, has just taken the race for the new Chinese consumer, aka the great eastern hope of the luxury industry, to a new level. He has  claimed the consumer not just for himself, but his country, Italy.

Continue reading: “The new special relationship: it’s not what you think”

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Posted in China, Luxury goods, Politics |

Michelle Obama embraces the establishment

May 26, 2011 4:00 pm by Vanessa Friedman

Very interesting comment from a reader yesterday, noting that as Michelle Obama has become more established in her role, she has adopted more establishment designers. And indeed, there she was last night at yet another black tie event in the UK, in…Ralph Lauren!

Getty Images

He is pretty much king of the American fashion establishment. In other words: more supporting evidence! And people complain about her husband not fulfilling his early promise of change and playing it safe. I hope she doesn’t relegate her style bravado to niche daytime events.

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Posted in Fashion, Politics, Womenswear |

Tom Ford and Michelle Obama’s new fashion agenda

May 25, 2011 4:56 pm by Vanessa Friedman

Last night Michelle Obama wore white Tom Ford to the Buckingham Palace banquet. Once again, she matched the Queen!

Getty Images

The dress has created lots of buzz in the blogosphere, though not because of the matchy-matchy thing. Mostly it is because of the Tom Ford thing (this is the first time the First Lady has worn anything by him). And most of the buzz has been positive.

I have to say, though, that I’m not entirely convinced by the choice.

My problem is twofold. First, aesthetics and history; second lost economic opportunity.

Continue reading: “Tom Ford and Michelle Obama’s new fashion agenda”

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Posted in Fashion, Politics, Womenswear |

Obamas meet royals, match outfits!

May 24, 2011 3:10 pm by Vanessa Friedman

If the Obamas’ trip to the UK isn’t the most sartorially co-ordinated opening of a state visit in history, I’ll eat my Philip Treacy hat.

President Obama, Michelle Obama, Prince Philip and the Queen

Getty images

It looks like something straight out of Vogue: Queen Elizabeth II and Michelle Obama both in pastel florals (Mrs O’s is by American designer Barbara Tfank, a red carpet name), as if to re-affirm the shared interest in gardening that they reportedly bonded over during their first get-together in 2009, and the Duchess of Cornwall and her new daughter-in-law, the Duchess of Cambridge, in matching beige. The latter’s dress is by Reiss, the UK high street chain, suggesting she’s going to stick to her “people’s princess” you-can-get-the-look-too! style of dressing, even now that she’s officially part of the royal family. Prince Philip and President Obama even look as if they have matching burgundy ties!

Continue reading: “Obamas meet royals, match outfits!”

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Posted in Fashion, Politics |

The investment value of fashion absurdity

May 23, 2011 4:25 pm by Vanessa Friedman

The news that the strange and controversial Philip Treacy creation sported by Princess Beatrice at the wedding of Prince William and Catherine Middleton has been sold on eBay for £81,000 is both generally shocking (although very nice for UNICEF and Children in Crisis, which will share the proceeds) and shockingly educational.

Getty Images

This is just above the price raised at auction by the lacy — what? Tube? Stretch skirt worn as a dress? — that supposedly caught Prince William’s eye when Ms Middleton modelled it in a charity fashion show at the University of St Andrews (that went for a whopping £78,000).

So is bad fashion worth more in historical terms than good fashion?

Certainly, the very tasteful Valentino suit worn by Princess Beatrice to the wedding would never have sold for the same sum as that…what exactly was it? Pair of antlers? It looks to me like a curvy ribbon atop a commemorative plate worn as a forehead protector.

Continue reading: “The investment value of fashion absurdity”

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Posted in Fashion, Royal wedding, Womenswear |

Tamara Mellon makes new love match, predicts luxury/private equity divorce

May 22, 2011 7:50 pm by Vanessa Friedman

One love affair ends and another begins: after three (count ‘em) relationships with private equity firms, Tamara Mellon, chief creative officer and founder of Jimmy Choo has hooked up with a long-term partner in the form of Labelux. Or at least that’s how she sees it.

“It feels like we have finally come home,” she said, when I called her hours after the commitment ceremony that was the private group’s acquisition of the luxury accessory brand. “They are in this for the long-term,” she continued happily. “Ten years is a short horizon for them.”
According to Ms Mellon, this is a huge relief after the upheaval that was her brand’s various private equity pairings, each of which lasted the usual three to five years.

Continue reading: “Tamara Mellon makes new love match, predicts luxury/private equity divorce”

Posted in Fashion, Finance, Luxury goods |
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Material World

with Vanessa Friedman

About this blog About Vanessa Blog guide
Vanessa Friedman's blog deals with the fashion/luxury industry from both a corporate and consumer point of view, as well as the subject of dress.



Vanessa FriedmanVanessa has been the FT’s fashion editor since 2003, and is based in New York, though she lived in London for 12 years.
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