Monthly Archives: January 2013

One of the more intriguing collaborations that has come my way has to be the Hermès/Comme des Garcons team-up. What, one thinks, do France’s most classic luxury brand and Japan’s most conceptual designer have in common? More than you might expect — and not just a thing for scarves, though that is what nominally brought them together.

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The other day a man who had recently bought a famous fashion trademark, Mainbocher, with interesting plans for reinvention came to see me. It turns out he bought the marque from a man whose father had been very canny in snapping up these defunct-but-aromatic names, and still in the vault is Paul Poiret, among others. Which means that post-Worth and Vionnet and Schiaparelli, there are still a bunch of once-famous fashion houses that are potential relaunches. But should they be? Increasingly, I think that the old arguments in favour no longer hold true, largely because of the Brave New World of social media.

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Diego Della Valle, the chairman of Tod’s, has been making a big ruckus lately about the need for Italian brands to protect Italian heritage – their own (ie their artisans and their skills) and their countries. First, he put his money where his mouth is, funding the restoration of the La Scala opera house to the tune of €2m and pledging to restore the Colosseum for €25m, and then he statred castigating his peers for not following his lead.

Well, now someone has. Yesterday Fendi announced it was going to single-handedly provide the funds to restore Rome’s famous fountains, starting with the Trevi fountain for €2m, and following with unspecified contributions for the nearby Le Quattro Fontane (the four fountains). Designers Karl Lagerfeld and Silvia Fendi made the announcement in front of a sketch of the fountain (above). It’s even got a catchy logo: Fendi for Fountains, or FFF, a play on Fendi’s own double F. Chic, no? Fashion to the rescue – what governments cannot do, luxury can. Branded philanthropy. Read more

Lloyd Blankfein. Getty Images

The new stubbly look of Goldman Sachs’ chief executive Lloyd Blankfein was the subject of much buzz at Davos last week. Sometimes you have to talk about something besides the Eurozone and exciting new tech breakthroughs, and in so doing, it caused endless irritation for the Goldman communications team – it didn’t see why everyone cared so much.

Do they really have to ask? Methinks that is a bit disengenuous. After all, Mr Blankfein’s new look was unveiled at: 1) the most public gathering of his peers all year, and one he was returning to for the first time in five years; and 2) bore a striking resemblance to the facial hair sported by that most considered and controlled of all aesthetic men, Tom Ford – the man who transformed the role of the designer into an executive position, and became a public figure in the process. Take a look at the pictures and tell me what you think. Read more

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One of the most surprising revelations to come from the FT’s recent mini Business of Luxury summit in NYC was the realisation that architect Peter Marino is busy creating a shadow art world in fashion under all our noses, and almost no one has put it together. At one point, about a decade ago, he noted, the grand pooh-bahs of luxury decided it was time to take things “to the next level” with their stores. And that next level was… art.

Consider: he says he has a deal with brands such as Chanel and Louis Vuitton that allows him to commission three to five pieces of new art from pretty much any artists he wants. And though he does recycle it from store to store on occasion, mostly this is new. So given that stores get refits every five to seven years – well, you do the maths. He says he has probably been responsible for commissioning about 200 or more works of art from artists including Vik Muniz, Jean-Michel Othoniel (that’s his glass swirl, above, in a Chanel boutique), Richard Prince, and others. That’s practically a museum in itself. You think it’s a coincidence that Louis Vuitton is opening its own art foundation in the Bois de Boulogne this year? Read more

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The continued preponderance of celebs at the couture show in Paris this week – Sigourney Weaver, Chloë Moretz, Jessica Alba, Rosamund Pike and Noomi Rapace, among others (left) at Dior; Hilary Swank and Uma Turman at Armani; Charlene, Princess of Monaco and Olivia Munn at Versace; Rita Ora at Chanel – has got me thinking about the expectation this has raised, and how that can backfire for a brand. And no, I’m not talking about the usual problem of celebs behaving badly.

I’m talking about the fact that these relationships have become so common and so public, that now when we see a star in pretty much anything branded, there is an assumption there’s a contractual relationship there. And a contractual relationship implies approbation and shared values. At our recent Business of Luxury conference in New York, Lisa Jacobson, head of branding for United Talent Agency, said there were “maybe” five celebs in Hollywood that didn’t want a relationship with a brand, and the endorsement contract had become a significant part of most stars’ income. Read more

Prada

Ok, Prada is not participating in the couture shows this week, but it did send out this little sneak peek of the dresses the brand made for Baz Luhrmann’s upcoming and much-anticipated film The Great Gatsby. It seems for no immediately apparent reason – the film is not due to open until May, there’s no specific promotional activity happening now around it – until you start thinking about the fact that these sketches (left and below) are one-offs made for Carey Mulligan, who plays Daisy Buchanan, and certainly look as intricate and imaginative as most dresses come. Kind of like couture.

That green number is a “radzmire dress with bustier embroidered with pearls, stones and sequin fringes”; the first one below is a “multi-striped sequins dress with a plastic and trimmings embroidery at the bottom”. The one at the bottom is “orange organza dress enriched with plastic fish scale-like sequin embroidery”. Read more

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It’s couture week in Paris; but we’re a show down on the schedule: Givenchy, which under Riccardo Tisci has held an up-close-and-personal presentation of a handful of elaborate pieces, is taking time out to, well, ease up on the pressure. Meanwhile, it has emerged that Alexander McQueen will also not be holding a show in March during the autumn/winter shows, as its creative director, Sarah Burton, pictured left, will be on maternity leave.

Instead they will have a small presentation; a variation on the tactic Celine’s Phoebe Philo used when she was last pregnant. Her show fell in her third trimester and decided to eschew the stress of a full show for small talk-throughs with tiny groups.

Could it be that both the corporate and creative sides of the business are beginning to think shows may not be the crucial component of a business they have been previously considered? Holy hemlines, Batman! Read more

By Vanessa Friedman

There are three big fashion events this week. It’s hard to know where a style-watcher should look: to Paris, where the couture shows kick off on Monday; to Washington, DC, where Barack Obama’s inaugural balls – 11 official dos and multiple more unofficial ones – also take place on Monday; or to Davos, where the suits’n’smarts shows begin on Wednesday: fur hats and rubber boots in the snow. Any of the three is bound to provide fodder for the fashion watcher, what with the tribal dressing that goes on, be it ever-more-towering stilettos at couture; navy suits in Switzerland; or tuxedos and sparkles at the Washington Convention Center. Read more

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So Oscar de la Renta has invited John Galliano, the ex-Dior designer whose fall from grace in 2011 for anti-Semitic remarks rocked the fashion world, back into the atelier. His atelier, to be precise. According to WWD, Mr Galliano is going to do a three week “designer in residence” stint in Mr de la Renta’s studio, beginning – well, soon. What do we think of this idea?

On the face of it, it is a surprise. But really, it’s very smart.

The surprise comes not from the fact Mr Galliano is beginning to stage a comeback (that’s been mooted for a while, and every friend of John I’ve talked to over the past year has mentioned it), but the fact he’s doing it under the auspices of Mr de la Renta. The two have never really been public collaborators before. Indeed, the classic New York society designer, favourite of first ladies, always perfectly dressed in suit and tie, and the British rebel who demolished and rebuilt an old couture house and costumed himself every season, are pretty different types. I mean, check out their portraits. Read more

The FT’s first New York mini Business of Luxury summit is taking place this afternoon at the Plaza, and I hope all of you will join the conversation on Twitter using the hashtag #FTLuxury13 or following @FTLuxury360.

I’m moderating a panel on developments in counterfeiting with Katrina Burchell, the first group head of intellectual property for PPR, Shirley Cook, chief executive of Proenza Schouler; and Harley Lewin, the lawyer who recently helped Christian Louboutin, so it should be… lively. What Mickey Drexler likes to call “passionate discussion”. It will include how the internet has changed the situation (we can no longer say, as Potter Stewart did, that we know it when we see it) and the greatest threats (3D printing anyone?) . Read more

IBM monitors electronic conversations to pick up on and predict trends. Getty Images

IBM has gotten into the trend-spotting business. You know that thing designers refer to as “zeitgeist”. Well, it can identify it, track it, determine when it turns from vague mumblings into larger movements, and then sell the information to clients. It’s not an art anymore; it’s a science.

Actually, it’s the Social Sentiment Index, a tool for monitoring the global electronic conversations on social media sites such as Facebook, Twitter and Pinterest, as well as blogs. When people start talking a lot about a certain topic: bingo. Read more

Financo – a New York-based boutique investment bank that specializes in consumer retail – held a seminar yesterday with a CEO panel that showcased some of fashion’s most successful kingpins. Coach chief executive Lew Frankfort gave his two cents to the assembled suits, as did Juicy Couture and VF CEOs Paul Blum and Eric Wiseman, plus hospitality supremo Danny Meyer.

But the most vocal man in the room by far – J Crew’s chief executive Mickey Drexler – wasn’t sitting on the stage.

In a rather unexpected (and uninvited) twist at the tail end of an otherwise predictable dissection of retail strategy, lifestyle brands and the importance of the emerging markets, Mr Drexler sensationally hijacked the discussion from the floor, to the acute embarrassment of Financo’s head honcho Gilbert Harrison. Read more

I was struck, when reporting the PPR/Christopher Kane deal, by a comment from Hugh Devlin, a lawyer with Withers LLP who acted as a strategic advisor to Mr Kane. Specifically, Mr Devlin said, “We would anticipate that there will be other investment transactions involving London designers in the coming 12 months.” So let’s have some fun! Let’s speculate about who could be next. Read more

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It doesn’t rain but it pours! Following Swatch’s purchase of Harry Winston, PPR has announced it has bought 51 per cent of hot young British brand Christopher Kane. That’s him, left, with stylist Caroline Seiber.

This marks the third British ready-to-wear brand owned by the French Group (it also has a joint venture with Stella McCartney and 51 per cent of Alexander McQueen), the first such young brand acquisition by a major luxury group since the recession, and the third in a series of PPR purchases: first Italian menswear brand Brioni, then Chinese jewellery brand Qeelin, and now Kane. It is up to something, no question. Where some see risk – buying a luxury brand at a time when consumer attitudes towards luxury itself are uncertain and China, aka the promised land, is experiencing a slowdown – they clearly see opportunity. Read more

And just like that – OK, just like that with $750 million plus the assumption of up to US$250 million of pro forma net debt – Swatch becomes a major luxury jewellery player. Today they announced the acquisition of the luxury arm of Harry Winston Diamond corporation. It is an image-changing buy.
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Last week was menswear week in London – see Charlie Porter’s review – but in New York, it was womenswear everywhere. On Monday I saw eight “pre-fall” collections. Tuesday I saw another and, on Wednesday, I saw a 10th. What did I see? Well, tailored wool jackets. Mini-skirts. Prints – leopard and cheetah and floral and what Carven’s Guillaume Henry described as “sort of layered posters for Françoise Hardy albums”. Tuxedo dressing. And evening gowns. Lots and lots of evening gowns.

But the latter aren’t for pre-fall – that is, from next June/July until November, when this ridiculously named “season” is stocked in shops. The gowns are for tomorrow.

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I did a Lunch with the FT with Burberry’s chief creative officer, Christopher Bailey, (looking snazzy, left), which is running tomorrow, and in our long – and fun – conversation, the thing that struck me most was the revelation that he limits his technology interaction largely to his professional life. Yup: no Facebook, no Twitter. It’s a work-only thing.

Why is this interesting? Well, because Mr Bailey has been a driving force behind Burberry, which is streaming its men’s show tomorrow on numerous social media platforms from Europe to China, becoming the number one high-end fashion company in the digital space.

And the Burberry flagship on Regent Street was revamped, under Mr Bailey’s direction, with an astonishing number of screens that can do such things as show you how your trench coat would look in the rain. Read more

Tiffany & Co. Getty Images

The post-Christmas gloom in parts of the US retail sector deepened on Thursday as Tiffany & Co, the jeweller, and Aéropostale, a fashion retailer, reported weak sales that sent their shares falling.

But, in a reminder that the sector still contains some winners, two other stores that sell fashion to young people – American Eagle and Urban Outfitters – reported strong sales growth.

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