“2% of the population under 30, and 2% of the population under 40 are millionaires who are not being catered to by the men’s knitwear market,” So said Jean-Victor Meyers to me yesterday, explaining his new men’s cashmere business, which aims to change all that. Read more
What high-end brands do those unpredictable but desirable, virtually-enabled, live-life-on-Facebook twentysomethings like? This is a question that obsesses luxury — after all, some chunk of said twentysomethings will become the luxury purchasers of the future, and knowing what they respond to is one of the great mysteries of today and potential cash cows of tomorrow. The other day I had an experience that gave me some clues as to the possible answers. And it’s not what you (OK, I) might expect.
It never rains but it pours, and so on. In those terms, this month the fashion world is experiencing a deluge. After the departures of Stefano Pilati and Raf Simons from YSL and Jil Sander respectively, and the expected departure of Derek Lam from Tods at September and the end of his contract, come two more announcements: Lucy Yeomans is leaving as editor in chief of Harper’s Bazaar UK and Amanda Brooks has left as fashion director of Barneys New York. This is, as they say, a moment of change.
The other day I got a nice email informing me that Marigay McKee, formerly Harrods’ Fashion & Beauty director, had been promoted to “Chief Merchant Officer,” a relatively new title in the luxury world as far as I can tell (and one not to be confused with that other CMO, chief marketing officer), but one that, I think, reflects not just a titular promotion, but a systemic change in industry thinking. Read more
Does retail need retailers? This is not a rhetorical question. Mark Lee, the CEO of Barney’s, has finally appointed his Woman’s Fashion Director, thus completing his makeover of the store’s executive suite. Read more
Barneys, the department store currently owned by Dubai-based Istithmar that was as close to synonymous with a way of life as any department store ever came, is getting a new creative identity: out with the old, ironic, insider, kitsch-meets-cool force of Simon Doonan, who has been “promoted” from creative director and the man behind the store’s windows (effectively its primary interface with the outside world) to “creative ambassador-at-large” (a minister without portfolio title if I ever heard one) and in with the new vision – whatever that may be – of Dennis Freedman. Read more