The news today that Ottavio Missoni, known as Tai and co-founder of the fashion/knitwear brand that bears his surname, has died aged 92 has sent the fashion world into mourning, for a number of reasons — some personal, and some to do with the end of an idea about fashion itself.
Today the third in a series of World Luxury Index BRIC reports from the Digital Luxury Group (and the Luxury Society) is released – after Russia and China, we have Brazil, and the “Top 50 Most Searched-For Brands”. Guess what? One of these things is not like the other ones! Though conventional luxury wisdom says emerging markets always look to the obvious, in-your-face icons of luxury first, Brazil seems the exception to the rule.
The continued preponderance of celebs at the couture show in Paris this week – Sigourney Weaver, Chloë Moretz, Jessica Alba, Rosamund Pike and Noomi Rapace, among others (left) at Dior; Hilary Swank and Uma Turman at Armani; Charlene, Princess of Monaco and Olivia Munn at Versace; Rita Ora at Chanel – has got me thinking about the expectation this has raised, and how that can backfire for a brand. And no, I’m not talking about the usual problem of celebs behaving badly.
I’m talking about the fact that these relationships have become so common and so public, that now when we see a star in pretty much anything branded, there is an assumption there’s a contractual relationship there. And a contractual relationship implies approbation and shared values. At our recent Business of Luxury conference in New York, Lisa Jacobson, head of branding for United Talent Agency, said there were “maybe” five celebs in Hollywood that didn’t want a relationship with a brand, and the endorsement contract had become a significant part of most stars’ income. Read more
Tomorrow the folks behind yoox.com and thecorner.com, two leading etail ventures, are launching store number three. Unlike the first two sites, which are ready-to-wear boutiques that offer, respectively, less expensive last-season merchandise and cutting edge fashion, this one has a particular focus: shoes. Specifically 1000 styles of shoe, retailing for between €180-1,000. That’s a lot of footwear.
When I asked Federico Marchetti, chief executive of the Yoox Group, the obvious question — is there really such a big market for shoes and only shoes, or is this a niche sideline? — he responded with some pretty striking numbers. Read more
The flagship superstore is getting yet another special feature: after cafes and restaurants (Armani, Gucci), concert halls (Chanel), bookstores (Marc Jacobs, Armani), and art galleries (LV), comes actual film theatres. Louis Vuitton has announced their new maison in Rome will “house a small cinema show casing art films from contemporary artists.” This is an arresting new development. Read more
Euromonitor has a new report out, and this one’s a doozy: it says Poland is the world’s fourth fastest growing luxury market behind China. Read more
According to the NY Post, Aerin Lauder, the current family standard bearer of the Lauder cosmetic empire (so much so that she actually was the face of the relaunch of her grandmother Estee’s favourite fragrance, Youth Dew), as well as an SVP, is Leaving the Company to Start her Own Brand. This is a big deal. Read more
Luxury leaves 2010 on a high note. Most analysts see good things for 2011 – the folks at HSBC, noting the positive performance of watches and jewellery last month, even say: “It is hard to find industries with better fundamental prospects than luxury for 2011.”
Indeed, post-end-of-year auction on December 14, Christie’s reports they had “a record-breaking year for fine and rare watches” with an estimated “$91.2m in total sales – the highest annual total ever achieved for watches.” Meanwhile, Tom Murry, ceo of Calvin Klein, told me they were having a very good Christmas season, and plan to open double-digit stores next year, and Tamara Mellon, chief creative officer of Jimmy Choo, has world domination in mind, and plans to expand into ready-to-wear, watches, and jewellery, after launching mens’ shoes. Read more
PPR is putting luxury on hold and charging forward into sportswear and sustainability. Yesterday, the French conglomerate displayed its trademark dispassionate ability to end (or suspend) industrial dalliances it feels may become less than productive by announcing the creation of – and concentration on — a new “sport and lifestyle” division run by Puma CEO Jochen Zeitz, who has also been promoted to Executive Chairman of Puma. Still, I’m more struck by the lead the group buried: the fact Mr Zeitz is becoming not only Puma’s Executive Chairman, but also PPR’s Chief Sustainability Officer.