It yet another indication that high end fashion brands see growth opportunity in charging ever-further upmarket, today Ralph Lauren (that’s their most recent show, left) named Valerie Hermann, latterly CEO of Reed Krakoff, as President of a newly created Luxury Division. This follows announcements by Louis Vuitton and Gucci that they see their future on the tippy-top of the luxury pyramid. At the same time, the move puts the Ralph Lauren strategy at odds with that of his fellow American “premium brand,” Michael Kors, whose phenomenal growth has been driven in large part by exploiting the price-point opening left when peers deserted the high end for the highest end. It suggest Mr Lauren is going after European competitors, as opposed to Mr Kors. Read more
I know this is heresy of a sort, but sitting in the opening shows of New York Fashion Week, a thought keeps niggling away at the back of my mind: maybe being marketed by Mrs O (because, let’s face it, when she wears your dress it’s free global marketing on an unprecedented scale), is NOT helpful. Maybe, in fact, it creates expectations some designers are simply not ready to bear. Before you rant and rave, hear me out. Read more
Google has published its annual list of most-searched names in multiple categories in countries all over the world, and, as we know, there’s one category in particular that sets this blog’s heart to beating: fashion. Unfortunately, the search megalith doesn’t seem to track this particular segment globally (though they do track consumer electronics), or even in every country (surprisingly, for example, they don’t have a retail or high-end designer list for luxury hotspot Italy, nor, to my great frustration, for the UK), but in at least two, the US and France, the results are – well, not what one would expect, to put it mildly. Read more
It just keeps growing! As Forbes pointed out, the Versace stake currently for sale would value the company at $5.8 billion – most likely vaulting Allegra and Santo Versace into the B-league. They would join fellow Italians Giorgio Armani, Domenico Dolce and Stefano Gabbana, Renzo Rosso, and Miuccia Prada and Patrizio Bertelli at the top of the luxury earners list – at least as of last year (this year’s rankings are still being tabulated). That makes Italy, as far as I can tell, the land with the largest amount of luxury industry billionaires. Interesting, no? Read more
A few final thoughts on the last weird development of the week, which is to say: LVMH’s first planned IPO of one of their brands. It’s been rather overshadowed by the news of Twitter’s IPO, which granted, is a more immediate offering, but does anyone else find the Marc Jacobs listing drumroll as odd a development as I do? After all, LVMH has NEVER – let’s repeat that – NEVER, listed a brand they own before. Read more
Today Michael Kors announced that Hillary Clinton would be the first recipient of the God’s Love We Deliver Michael Kors Community Service Award at the big GLWD awards shindig in October. The gong will be presented to her by…guess who?…Michael Kors! In case anyone needed any more re-inforcement of the fact that if HRC does decide to declare her candidacy for President, the industry will be right there in her corner.
During the couture shows the hottest topic of conversation runway-side was, unquestionably, whether or not Marc Jacobs (left, at the last Vuitton womenswear show) was going to stay at Louis Vuitton – and if he wasn’t, if Nicolas Ghesquière, late of Balenciaga, was going to get the job. Well, since then, the rumour has only gotten stronger on the blogosphere — google “Marc Jacobs leaving Louis Vuitton” and you get over 3 million responses. But amid all the speculation, there’s one fact no one seems to know.
BusinessInsider.com has just jumped on the fashion list bandwagon along with Vanity Fair, Time, Bazaar, Vogue, and so on, adding their own special twist to the form with a “list of who determines what’s cool in America.” That being “designers, celebrities, journalists, stylists, and executives vying for influence.” Sounds good; demonstrates they don’t understand the fashion world at all.
The other day I was talking to Geraldo da Conceicao, Sonia Rykiel’s new creative director, about his plans for the brand, when he said something that surprised me. “I want us to be an accessible luxury brand,” he announced. Hmmm, I responded: “So you are dropping your price points?” He looked confused. “No, not at all. In fact, they are probably going up.” Now it was my turn to be puzzled.
Time magazine’s 100 Most Influential People in the World is out, and there are three fashion names on it: Michael Kors, Jenna Lyons (of J Crew), and Tadashi Yanai (of Uniqlo). Notice anything similar about them?