Fashion

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

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

Tory Burch has just been named one of the President’s Ambassadors for Global Entrepreneurship, aka a PAGE (as someone who once worked in Congress as a – well, page, it’s hard not to appreciate the irony of that acronym), a new Obama program intended to promote start-up businesses in the US and around the world. Ms Burch is the only fashion figure in the group, which also includes Reid Hoffman (LinkedIn), Quincy Jones (Quincy Jones Productions), and Hamdi Ulukaya (Chobani yogurt) among others, so it’s a pretty big deal. For me, it also has echoes of David Cameron’s “trade ambassador” program, an honorary grouping established way back in 2010 of many of Britain’s biggest business figures, from Anthony Bamford of JCB to Sir John Bond of Vodaphone – not to mention Anya Hindmarch and Tamara Mellon. Hey wait — let’s think about those names: Hindmarch, Mellon, Burch. Anyone else sense some striking parallels? Read more

Big (literally) news today in the FT that yesterday, thanks to a government recalculation, Nigeria’s GDP has not become the biggest in Africa, and the 26th biggest in the world, valued at $509bn. Why do we (we luxury folks, that is) care? “The revision will have a psychological impact. It underlines to foreign investors that this country has a large consumer base. It validates the investment thesis,” said Ngozi Okonjo-Iweala, the minister for economy and finance. So will luxury, which has thus far been dancing around the edges of the country (only Zegna and Hugo Boss have stand-alone stores in Lagos, opened last year, and Diesel recently joined them), but which these days really loves a new consumer base, rush in? Read more

The subject of feminism and fashion, with all its complicated associations, has been percolating along for a season now – ever since Rick Owens’ step dancer show for spring/summer — and for anyone who though it was just a trendy thing, a group of occurrences this week ought to put that idea to rest. If anything, the commitment is being upped. Read more

ack from Prada’s investor day, analysts are musing over the future of the multi-billion euro Italian brand. To recap, after three years of scintillating growth, Prada (which is run by Patrizio Bertelli, center left, and his wife, Miuccia Prada, near left — both pictured with Italian Vogue editor Franca Sozzani) last year succumbed to the malaise that’s hit the luxury goods industry at large. Net income was flat last year compared with a 45 per cent growth in 2012, and declined in the fourth quarter. So what’s the suddenly-beleaguered brand to do? According to the Prada people: let them eat cake! No, that’s not a joke. Prada plans to help shrug off its slowdown by tapping a new trend in luxury and expanding its recently acquired Milanese coffee house Marchesi. Read more