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
Luxury brands from PPR to LVMH may be announcing more banner results this month, but according to a new report from UK luxury consultancy Ledbury Research, their CEOs are probably a lot more worried about the industry’s prospects in 2012 than they are letting on. Read more
I’m telling you: ides of March. Rumours have spread like wildfire that Derek Lam, the American designer who has been creative director of Tod’s for the last six years, has parted ways with the brand. The Tod’s folks are have been hiding from all emails and phone calls since last night, but they aren’t denying it. If it’s true, it has interesting implications for the future of luxury. Read more
Today Jacob Weisberg coined what I think should become a representative catch-phrase of the 2012 US election along the lines of James Carville’s “it’s the economy, stupid,” in 1992 and Ronald Reagan’s “it’s morning in America” in 1984. To wit: he noted that Mitt Romney suffers from “the affliction of excessive handsomeness.”
Who knew there was such a problem? Such is the reality, it seems, of 21st century, recession-ridden America.
The question of how to balance virtual stores with bricks and mortar stores is a thorny one, with various theories fighting for dominance. Some say it’s all going virtual and point to the search for value (see the FT today, and the report on shoppers deserting the High Street for home pages), while others say things need to be felt to be appreciated, and point to the recent Zappos debacle as something that will also drive people back into stores (see many luxury executives). The only thing that’s clear is the lack of consensus on best strategy going forward, something that was brought home to me pretty tangibly thanks to two recent bits of information I stumbled onto.
Hillary Clinton isn’t the only politician smart enough to let her clothes do the speaking: German chancellor Angela Merkel also demonstrated great fashion fluency when she wore strict, unrelenting, unforgiving, unapologetic black for her speech to the Bundestag. Things were tough, she said, and they were going to get tougher. She wasn’t going to lighten anything up — or distract from her message — by adding a pastel or a pattern to leaven her words. Read more
Yesterday, for the first time, Antonio Tajani, the European Commission’s VP for industry, met with a bunch of luxury companies like Chanel, Dior, Pucci, MaxMara and Harrods to talk about what the brands and the EU might be able to do for each other. Wait — the first time? Yes, weird as that may sound, after two years of lobbying, the ECCIA (European Cultural and Creative Industries Alliance) finally succeeded in getting Brussels’ attention. Read more
Things are heating up in a funny old corner of the world: West Hollywood, where the anti-fur movement and retailers are going to war. Yesterday the City Council, or three out of its five members, voted in favor of making it the first city in The Whole United States to ban the sale of fur. They are PETA superheroes!
So it all came true, and PPR did, indeed, buy Italian men’s wear luxury brand Brioni. So far, so rumoured. But what does it mean? Seems to me there are two main implications to the deal. Read more
Tonight is the beginning of what is being billed as the biggest Fashion’s Night Out ever, although it’s more like Fashion’s Afternoon Out: a noon-9pm (Saturday) shopping extravaganza in Japan launched by an evening pre-shopping gala, with some of the proceeds presumably going to benefit earthquake relief efforts. But that’s not the half of it.