Pity the poor luxury CEO in Francois Hollande’s France: no sooner is your wife speaking to a foreign real estate agent than the rumour mill is rife with speculation that you are about to flee the country (and maybe all those proposed wealth taxes), and set up home somewhere else. What else to conclude from the recent furore over the sight of actress Salma Hayek, aka Mrs Francois-Henri Pinault, aka wife of the CEO of Kering, the second largest French luxury group, lunching with a UK broker earlier this week? Read more
There was much hoo-ha a few weeks ago about the London opening of American success story J Crew, and whether it would work in the UK, and the great consumer response, and yadda yadda yadda, but in getting excited about the clothes, we seemed to have missed one of the less obvious effects of the opening: its influence on local brands and their thinking – which is to say, the way it has awakened managers to the potential of the accessible luxury/contemporary market (whatever you want to call it: that slice of retail that falls between High Street and very high end). Consider Karen Millen, and its CEO Mike Sherwood, who today told the FT he has decided to take the brand, which was previously at a sort of upper high street level, into new territory. Hello, accessible luxury! But is he right about the opportunity? Read more
Forget obvious battlegrounds like stores (who has got the biggest/luxist/most special) or designers; the most heated fights in luxury are clearly taking place behind the scenes, in the back-end and backrooms. The latest entrants: Chanel and Paco Rabanne, which stepped into the supplier/accessories arenas respectively. Read more
Just as the Chinese government cracks down further on luxury spending at home, and more company results demonstrate a flattening of the local market causing fear and trauma in heritage luxury brands with major capex in Asia, enter Antonio Tajani, EU Vice-president and commissioner for industry, to attempt to stem the pain. Their hero! Mr Tajani, aka luxury’s friend in Brussels, has “an action plan on the competitiveness of the European fashion and high-end industries”. Or a kind-of action plan. A beginning action plan? A small movement plan? You know what I mean. The point is: there’s a plan. Read more
Despite its amazing Black Friday results, Amazon has not quite become the player rumour says it would like to be in high-end fashion; luxury brands still see it as overly mass. So news of a new upmarket approach at Zappos, the accessible (and highly successful) shoe site, made all my luxury strategy sensors start vibrating in anticipation. And no, I am not confusing my apples with my oranges. See, Amazon owns Zappos, but “Zappos” doesn’t come with all the strings and global supermarket associations that the name “Amazon” does. Which makes it a great testing ground for any new strategy directed at luring luxury brands and HNWIs into the consumer fold. So what is this brave new strategy? Read more
This being Black Friday in the US, and the topic of spending money being very much in the news, here’s an interesting study on the latter: BusinessInsider.com has put together a list of the 35 biggest advertisers on Facebook this year. And guess what? Despite all that lip service paid to interaction and transparency and so on and so forth, there’s only ONE luxury brand on it. Also only one fashion brand. And they are probably not the ones you would expect. Read more
It’s all about football for men’s luxury brands. What else to make of the fact that Lanvin just became the first French brand to joined the ranks of Paul Smith (Manchester United), Armani (Chelsea, plus the English national football team, twice), Brooks Brothers (InterMilan), and Dolce & Gabbana (the Italian National team and Lionel Messi, the Argentinian football player they dressed for so long, they made a whole book about him), by becoming the “official tailor” to Arsenal, the UK football club immortalised by Nick Hornby in “Fever Pitch”? Read more
Much ado in New York over the fact that yesterday, while on his “Yeezus” tour, Kanye West gave a radio interview on 92.3 suggesting his fans not buy any Louis Vuitton products from now until January. Apparently, he is upset that the brand’s CEO did not want to meet with him in Paris, and he wants them to feel his pain where it hurts. The problem is, he got the wrong CEO. Read more
Are accessory designers finally getting the recognition they deserve? Following Louis Vuitton’s announcement last summer that Darren Spaziani was joining the house as accessories designer, now Emilio Pucci is revealing a “get”: Elena Ghisellini, aka the woman behind Givenchy’s recent stream of It bags. She’ll work with creative director Peter Dundas. So far, so normal: both are LVMH brands, this is keeping it in the family. So why do we care? Lots of reasons! Read more
It’s about now that a film studio’s fancy turns to thoughts of awards. They need to get their Oscar/Bafta/Golden Globe contenders in by the end of the year, and general wisdom dictates that it is always better to save the most powerful for the end, so that they remain fresh in voters’ minds.
So the holiday season coincides with the release of high-minded movies such as Philomena , Dallas Buyers Club and The Book Thief – films that deal with big subjects such as adoption and motherhood, terminal illness and the Holocaust, as opposed to, say, superheroes and aliens, or bachelors on the loose. And as in film, so in fashion.