OK, giant luxury conglomerates: time to think even more broadly about brand extensions. According to a new report from Boston Consulting Group, the luxury experiences market is now worth a whopping $980 billion (luxury experiences being defined as cars, art, home, tech, dining, hotels, travel, spas, yachting, etc.). Aka almost $1 trillion. By comparison, the personal luxury goods market is a piddling $390b. Now, where would YOU put your investment? Read more
Oh, yay! Another list! The Fast Company 1000 is out, a list of the 1000 “most creative people in business”, aka the ones “behind the world-changing, inspiring and, yes, even whimsical, ideas that are moving business in new directions today.” There are 30 fashion people on it, including models and editors. You can probably guess who some of them are, but there are some startling omissions. Read more
Michelle Obama did something last night at the State of the Union address she had never done before – in fact, I think odds-are she did something no First Lady had ever done before. It was pretty radical. Read more
Well, finally: Google glass has made the leap from nerd-wear to pretty acceptable actual glasses. They just unveiled four new styles of titanium frames – lightweight black numbers that range from a kind of sexy secretary style (my personal favourite) called Curve to a thick-rimmed architect look (Bold). They can take both prescription lenses and non. The weird Google viewer that, when worn alone as previous turned people into Star Wars-geeks, attaches to one side. It’s still a little odd, but not odd enough to cause the sort of double-takes it did on its own. It could actually pass as…a fashion statement. Read more
What’s the point of fashion week – or maybe more pertinently, are we missing it? I was wondering this last week at couture, as I complained about the lack of daywear and subtlety, and got told off by a young stylist, who said, simply, “Isn’t it all about the red carpet?” Maybe so, given that a Valentino dress just showed up on the Grammy red carpet on Katy Perry (left). Which got me to thinking: maybe the reason we complain so much about fashion weeks is because what we (critics, consumers, viewers) think they are for, and what brands and designers think they are for, are no longer the same thing. Reality doesn’t meet our expectations, because reality is trying to meet different expectations. Adjust the expectations, and you may change your reaction too. As the ready-to-wear shows loom (they start in NYC a week from Wednesday) I think maybe it’s time to try to pin this down. Read more
It is one of life’s great ironies that the Paris couture shows always coincide almost exactly with the World Economic Forum in Davos. While the latter focuses on the looming issues of the day – the growing gap between the super-rich and pretty much everyone else, for example – the former caters to said super-rich and to their willingness to contemplate €20,000 gowns. It’s a stark contrast, in black and white and gold and silver.
And so couture comes to an end. I could tell you it was all about lightening up, or the new names on the schedule, or the rise of the couture trainer (meaning odds are the coming ready to wear season will be full of comfy rubber-soled shoes of whatever variety), but I’ll leave that for Saturday’s review.
Truth is, what struck me most about this season was the off-piste rise of the new runway game: “Which is the Oscar dress?”
See a conjunction of the evolving red carpet economy and timing means that today couture may well generate more Oscar dresses than any other season. And it is changing what’s on the runway. Read more
All that stuff we’ve been hearing about the Chinese market moving toward the exclusive, the subtle, and the non-logo? It’s happening in beauty too. The other day I was chatting to Christophe Robin, the Paris hair colourist, and he mentioned that his line of products had really taken off in China. They’re called “Christophe Robin.” Heard of them? No? Well, that’s the point. “Last year sales were up 53%, and this year we think it will be 70%,” he said. Given that Bain reported luxury market growth of about 2.5% in China last year, that’s saying something. Read more
Bet corridors were buzzing over at Hermès yesterday when LVMH announced Francesco Trapani, the executive who engineered the sale of Bulgari to the French Group and was then elevated to head of LVMH’s Watch & Jewellery division, the better to ease the family firm’s incorporation into the LVMH fold, was stepping aside. He is to become a “senior advisor” to LVMH Chairman Bernard Arnault, and keep his seat on the board. LVMH didn’t say much about the move, other than to suggest the decision had been Mr Trapani’s, and that it was prompted by Bulgari’s successful integration – ie, his operational job was done. In the press release, though there was a quote from M Arnault about Mr Trapani’s contribution, Mr Trapani himself did not say anything at all, which was a little weird. Read more
In Paris for the couture shows, I was tooling around yesterday to some appointments, and stopped by JW Anderson’s showroom to see his pre-fall, pre-Versace (for the latter, if you want to know: Swarovski, skin and very Sunset Boulevard). Anyway, we got to chatting about the change in his life since he signed on as Loewe’s creative director, and LVMH took a minority stake in his eponymous brand, and the YBD (young British designer) reeled off some pretty interesting numbers. Read more