What’s up with Oscar de la Renta? The man is creating news – and potential controversy – right and left. After paving the way for John Galliano’s return to fashion, a move that was both welcomed and castigated by the fashion set (depending on who you asked), today Mr de la Renta, America’s pre-eminent couturier of uptown society thanks to his way with a gown (see actress Jennifer Garner, pictured), announced he was creating a collection for The Outnet, Net-a-porter’s cut-price platform, that will be more “accessible” than his normal line. Effectively, he is remaking old patterns in old fabric and pricing down. The way the company puts it is, to paraphrase, along the lines of “taking out the originality mark-up”.
Actually, this is interesting for a more macro reason than linguistic gymnastics. Mr de la Renta’s move, combined with the recent launch by Barneys NY of its own stand-along cut-price web site, barneyswarehouse.com, to sell end-of-season merch, effectively creates a luxury strategy face-off over the issue of outlets: good or bad? Seems to me we are heading towards stilettos at dawn. 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
The Anna-Wintour-for-ambassador rumours that have surrounded the US Vogue editor in chief ever since she became a “super-bundler” for Barack Obama have picked up steam lately: on Monday, even erstwhile presidential non-contender Donald Trump offered his two cents on the matter (“I think she’d be an amazing choice”). But c’mon guys: let’s think about this realistically for the moment.
Good golly Miss Molly: there’s a whole new untapped consumer segment out there itching to spend money. Such is the basis, anyway, for a new web site launching next month directed specifically at these “recession-busting” individuals. Check ‘em out! Read more
Today Ledbury research is publishing their “CEO Sentiment Indicator,” an exciting document in which they chart the words of luxury execs as they reveal the thoughts of said execs about how things are shaping up for the future. They gave us an exclusive peek at it before release. And guess what? They are not feeling the love.
Wandering around the Paris presentations you pick up some interesting facts. Here are three I wanted to pass on, which have to do with accessories (prospects for the future of), and which surprised me. Read more
Making the rounds at Milan fashion week this season has been interesting; people keep talking about their Big New Idea to improve the Italian fashion business. Consensus seems to be: something needs to be done. But what? Here are some of the suggestions:
The sky is falling! The sky is falling! This tends to be the reaction lately every time a luxury brand reports worse-than-expected earnings. It happened last June with Mulberry, and now it is happening with Burberry. Yet I am not convinced it’s time to call the end of luxury. Read more
So after all the chat about the current economic situation driving a polarisation of price-points – either super-high-end luxury or cheapo Uniqlo – Euromonitor has come out with some research that begs to differ. Read more
The assertion that exclusivity is no longer a criteria for luxury came from PPR chief Francois-Henri Pinault when he opened our luxury conference last Thursday, and I have to say, it made me sit up in my seat. Not that that was the only striking insight to come out at the end of last week. Here, in no particular order of importance, are the top five items that stayed with me the most Read more