I had a very illuminating chat yesterday with Jimmy Choo chief executive Pierre Denis. He’s been in the job not quite a year now (previously he was ceo of John Galliano, so you can understand the job change), and has started to articulate the brand’s story going forward. Put simply: it’s history, people. Read more
What do you do when you are stuck in a non-compete for a year? Write a memoir, which is in part a tell-all about your former employer! Such, anyway, seems the approach of Tamara Mellon, who left Jimmy Choo, the shoe brand she built into a global luxury powerhouse after it was sold to Labelux, and whose book, In My Shoes, is slated to appear on October 1. It seems to me the timing is particularly canny. Read more
Yesterday LNK Partners, a White Plains, NY-based P.E. firm, announced they had closed a second $400 million fund (oversubscribed, natch), specifically aimed at investing in “the consumer/retail sector.” Yes, yet more proof that all of us who thought when Permira sold Valentino to the Qatari royal family, it marked the end of PE’s brief flirtation with the unpredictable world of fashion were wrong. There’s life in that there investment relationship yet. Read more
Does anyone else feel like suddenly everywhere they turn, another erstwhile satisfied luxury brand is re-christening themselves a “luxury lifestyle” brand, talking about their “global universe” and otherwise attempting to own every aspect of a consumer purse? It’s like The Birds: you see one example circling and think, “oh, that’s interesting,” and the next thing you know the whole flock has obliterated the sky.
But here’s what I want to know: why? And what, exactly, do these brands mean when they attach the word “lifestyle” to themselves? Read more
For anyone wondering why a few days ago there was another post on this blog about Jimmy Choo’s new bridal collection — and then there wasn’t: mea culpa.
There’s an industry truism which holds that fashion brands should focus, publicly at least, on their “fashion” lines — the ones that change every season, demonstrate their “vision” and drive consumers into stores — as opposed to their more commercial endeavours (e.g. bridal). Read more
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
Not so long ago I spoke to Tamara Mellon about Labelux, the German luxury group that is privately owned by the reclusive Reimann family, and the fact they had bought her company, Jimmy Choo, from TowerBrook private equity. She was thrilled. And yet, here we are, a mere half year later, and Ms Mellon and her CEO, Josh Schulman, have both resigned. What happened?
It’s shaping up to be a big weekend for British fashion. On one hand we have Catherine, Duchess of Cambridge, doing her best to represent every level of British brand available on the Canadian leg of her North American tour; on the other we have Kate Moss’s wedding. After all, just think about what it means for a designer every time they appear in a brand.
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
Theoretically, faced with earthquakes, bankruptcy, etc., a name should be the one thing you can always hang on to. Not in fashion. Here is a short and non-comprehensive list of living designers who have lost their names in recent years:Herve Leger; Roland Mouret; Jil Sander; Helmut Lang – and so on. This is a big question mark over John Galliano, whose brand is owned by Dior, — will they sell his name back to him? Can he afford it? Will they close it? Or what? And now rumours are circlign around Jimmy Choo.