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We know celebrity sells clothes, but does it also sell stocks? The news that Michael Kors, which began its life as a public company today, was the biggest IPO in American fashion history, suggests the answer is yes. It sold more shares than expected in a deal that will value the company at nearly $4bn.
After all, Mr Kors has talent — specifically an ineffable ability to make a cashmere pencil skirt and polo neck look like a platonic ideal — and a very good business (majority shareholders Silas Chou and Lawrence Stroll are masters at creating a base of accessories and a second line that broadly support the high-end rtw). But he also has the benefit of a potent tv personality. Read more
Looking back over 2011, which I am currently doing for a Christmas Eve column, I’ve been struck by the fact that one trend dominates all others by a significant margin, having held true from last March through year end: the IPO. 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.
September is both Back to School! and Back to Fashion Week!, and sic discussion with my children about what they are looking forward to, I’ve been mulling over what Iam looking forward this fashion season, which begins in NY on Thursday. For what it’s worth, here’s what I expect to be the best topics of discussion over dinner or cocktails:
There has been much talk at the beginning of New York fashion week (whoopee!) about the incredible shrinking of the shows. Not the number of shows themselves, which is still alarmingly high, but the shrinking of the show spaces: the purported embrace of new, intimate catwalks that only allow a few hundred, instead of many hundred, attendees.
Y-3, for example, has a “new, intimate” venue downtown instead of the Park Avenue armoury; ditto Yeohlee Teng, who only has room for – count ‘em – 50, as opposed to 500. This is being blamed, variously, on: Read more