I have a dream. Not the Martin Luther King kind, I admit; more the nightmare-at-2am kind. In my dream, I am out and about reporting, reviewing or otherwise working, when I discover something big – something I have to tweet or write straight away, like that the Marc Jacobs IPO is set for next week (not really) or that Apple is appointing Hedi Slimane its creative director (also not true; these are just examples of what would make urgent fashion news) – and my BlackBerry (yes, I have a BlackBerry, and I like it) goes kaput. Runs out of juice. You know the scenario. And whichever smartphone you depend upon, I would bet you’ve had the same dream.
uch concern in New York last year post-election about whether new Mayor Bill de Blasio would be as much of a FoF (friend of fashion) as former Mayor Michael Bloomberg – especially given de Blasio’s stated goal to even the economic playing field in the city. Turns out, however, this refers not just to the income gap but the manufacturing gap, and in that fashion and the mayor’s office have found common ground. Read more
So Mulberry interim executive chairman Godfrey Davis, still lacking a CEO and Creative Director, has announced a change in strategy: they are going more accessible. You’d think maybe they would wait until those two leadership positions were filled to discuss this sort of thing, but hey – a brand’s gotta do what a brand’s gotta do, at least when speaking to financial analysts about profit warnings. And generally, I think this is move in the right direction. After all, with Benard Arnault charging full-bore at the top end of the market with his stable of brands, wherein also resides Hermes, Chanel, and Bottega Veneta, and Ralph Lauren announcing his plans to go luxury, it’s looking pretty crowded up there. On the other hand, ask those analysts the Mulberry folks were talking to about the success of, say, Michael Kors, and they will site the fact that Mr Kors was smart enough of take advantage of that great open high middle that Mr Arnault and co had left vacant. The space is still unpopulated enough that Mulberry may be able to find a home. Read more
And this is how a fashion rumour gets started: A few days ago Page Six, the New York Post’s gossip column, ran an item saying John Galliano was no longer being considered as a possible creative director at Oscar de la Renta (pictures above, with former NY Mayor Bloomberg; and if you ask me, given their joint experiment in the design studio a few seasons ago is a good thing; their aesthetics did not mesh), and as a result de la Renta was looking for a replacement. Now the Telegraph in London has picked the rumour up, and the Business of Fashion website has picked up their story, and soon it will be gospel. But it is actually true? According to a source in the inner circle of the brand: No – at least not officially. Read more
Maud Lescroart, the CMO of Sophie Hallett, the family-run French lace maker that seems to supply – well, pretty much everyone in fashion – is in New York this week for Wedding Week, and stopped by the office the other day to discuss her company’s life since the royal wedding (Hallett supplied the lace that covered the bodice of Kate Middleton’s Sarah Burton Alexander McQueen gown). Between four key factors: 1) the spotlight cast by the palace fairy tale; 2) the focus on the hand-made and heritage as key to luxury’s appeal; 3) the growing attention to CSR and the desire to control all parts of the supply chain; and 4) and the imperative in the luxury industry to ensure a reliable source of key materials, which has seen big groups buying up skins houses (LVMH and Heng Long; Hermes and Tanneries d’Annonay) and cashmere specialists (LVMH’s purchase of Loro Piana in 2013; Chanel’s purchase of Barrie knitwear in 2012), they have gone from behind-the-scenes player to suddenly very hot property. Read more
So Alexander Wang, left, is the latest runway designer to team up with H&M in their high/low limited-edition strategy for creating buzz and best-sellers. He’ll be the first American to get the gig. The news was announced yesterday by Mr Wang via Instagram, which was seen as very cool, while at Coachella, which is even more cool. The message being, of course, that he is just cool, and this project is going to be super-cool. Except it always seems to me the appeal of the H&M collaborations was they took names that weren’t cool – they were haute, and generally unreachable – and it was the combination of unlikely bedfellows (the high street and the high fashion) that was actually the cool part. This one seems to indicate a slight switch in strategy. Read more
If, like me, you live in the US, then you may be feeling a touch of Michael Lewis overload. If you live elsewhere, you may be spared this condition, which brings with it a sudden fatigue with dimples, floppy hair and pink gingham. If you are involved in the financial world anywhere, however, I suspect you, too, may have it, given that the author and journalist’s latest book, Flash Boys , a “surprise” tome (ie one that was not described in its publisher’s catalogue prepublication) hit the media and banking worlds with a boom a fortnight ago and set off a perfect Lewis media storm, from 60 Minutes to CNBC. (Yes, I am theoretically contributing to it here but the idea is to act more as a punctuation mark than a continuation.)
Whichever platform you used, there was no getting away from Lewis; his image, rooted in the iconography of the courtly southern gent, complete with pastels and open-necked collars, was everywhere. It got to the point where if, out of the corner of my eye, I saw a blond fringe on a screen, I knew exactly who was on.
What happens when you are a Russian designer who shows in Paris and imports all your materials (except hand-made lace) from abroad, and suddenly your currency falls 30% thanks to an international crisis, and your country’s image gets a little..shall we say…darkened in the eyes of the luxury consumer world? This is the situation currently facing Ulyana Sergeenko (left), the Moscow-based socialite-turned-designer who shows on the Paris couture schedule and who has made something of a mission of preserving and promoting traditional Russian dress and craft and selling it as high-fashion. She was in NYC the other day and stopped by the FT with her brand manager Frol Burimskiy to discuss it. For her, the potential damage is not just about expenses, but identity. Read more
Yahoo has just signaled its belief that part of its future lies in fashion and beauty, signing cosmetic guru Bobbi Brown (whose eponymous makeup line is owned by Estee Lauder), left, as their first-ever “beauty editor-in-chief.” She’ll run a vertical on the site, as well as doing her own blog. In this they are, of course, joining a race where Apple and Google already have palpable leads, with Intel jockeying for its own position not to mention Amazon. What’s interesting is that, as Yahoo demonstrates, it’s not just about wearables: it’s also partly about being the go-to platform for the sector, or those interested in the sector. We shouldn’t get so blinded by the product possibilities we ignore more traditional routes in. Read more
The news that PVH has bought an undisclosed minority stake in Karl Lagerfeld’s namesake brand (otherwise owned by Apax), thus allowing them first dibs on the brand’s entry in North America, has got all my something-is-happening sensors twitching. Seems to me they are sneaking up on dominance of a market segment. Read more