Blame Hillary Clinton and Angela Merkel (or maybe even the eight female ministers that make up half of the cabinet of Matteo Renzi, Italy’s new prime minister), but these days trouser suits and women in power just seem to go together like, well, jackets and pants.
LVMH has confirmed it has taken a minority stake in Young Italian Designer (we will not acronym that for obvious reasons) Marco de Vincenzo, making him the second such up-and-comer to receive such investment from the luxury behemoth, and underscoring the increasing competition among the established groups to identify, and potentially own, new talent. The terms of the deal were not disclosed, but there’s no question, it’s putting its money where its mouth is. At least some money. Read more
Kiev was burning and in Milan, Jeremy Scott made his debut at Moschino with a series of bad jokes. This is not the non sequitur it might first appear. Mr Scott could not have known, of course, when he was designing his riff on Moschino/McDonald’s – his pun on fast food and fast fashion realised in red and yellow bourgeois suiting complete with golden arches-cum-hearts or Sponge Bob yellow and black polka dots, his evening silks with junk food prints, his gold-chain-bedecked quilted leather mini suits – what would be going on in the world when it was shown. But that does not matter.
OK, that headline is a bit of an exaggeration; luxury still loves its LA brand ambassadors. But when it comes to fashion week, it’s a legitimate question. Looking at the reports from last night’s Emmy awards, it suddenly hit me that there have been almost no Hollywood moments during Milan Fashion Week. Even given the date clash, and the fact that some may have had to be in the awards auditorium, there are plenty of movie stars who would have been available. No to mention rock stars. So I wonder: Have we finally come to the end? Has the luxury/celebrity balance of power finally shifted? Read more
For all scholars of the Conde Nast kingdom and its inner workings: Anna Wintour has made another move in her new role as Artistic Director of Conde Nast. Last night Milan Fashion Week opening with what will indubitably be the party of the week: a shindig, hosted at La Scala by Conde Nast (the American version) to celebrate the donation of five scholarships to five Italian students in fashion, art, film and journalism. The great and the good were all there, and tenor Vittorio Grigolo sang. When I asked various CN execs about it, most of them said, “It was Anna’s thing” – though CEO Charles Townsend was also key. Either way it suggests a certain kind of strategic thinking that isn’t necessarily just about altruism or opera. Read more
Anyone else think this is a halcyon time for young designers? I mean, first the big luxury groups make their first investments in new names since way back at the turn of the millennium (back in the day when Tom Ford built Gucci Group by adding Stella McCartney and Alexander McQueen), with Kering buying a majority of Christopher Kane and a big minority of Joseph Altuzarra, and LVMH helping out Maxime Simoens, and reportedly scouting JW Anderson. But that’s just the tip of the iceberg. Read more
Oooh, the trash talk out of Milan. Having finally woken up to the fact that London Fashion Week is getting buzzier, and that such a development could be a threat to Milan, its collections, and the related economic windfall that comes to a city during showtime, Milanese designers are joining forces to defend their territory – but the infighting has already begun. The gossip and name-calling is fun to watch, but behind it is a real issue currently afflicting every fashion week: the tension between national industry interest and a brand’s self-interest. Read more
Marni's sunglasses with “excavated details”. Getty Images
Today is travel day as the fashion flock heads to Paris. Looking back over the past week in Italy, I was struck by the fact that of all the trends to come out of Milan – fur, leather, dominatrix gear, (I’m not kidding about this last one) – the biggest one is the sudden trumpeting, by pretty much every brand, of “Made in Italy”.
From Dolce & Gabbana and their mosaic dresses to Fendi’s extraordinary fur melange, it was artisanship all the way. You just need to read the show notes, supposedly to help journalists understand what a collection is about, but in reality mostly serve as pre-show entertainment.
Take Marni, for example, “the colour palette is severe, with turbulent peaks”; sunglasses have “excavated details”. Or from Armani: “calculated eccentricity shines through in berets featuring special workmanship in woven velvet, their spherical forma adorning the head.” I’ll be tweeting the best ones, so follow us on @FTLuxury360 for some real prose treats. Read more
Making the rounds at Milan fashion week this season has been interesting; people keep talking about their Big New Idea to improve the Italian fashion business. Consensus seems to be: something needs to be done. But what? Here are some of the suggestions:
As I was leaving Italy after Milan Fashion Week, I was chatting to Guglielmo Miani, the young-ish CEO of Larusmiani, a family-owned manufacturer of luxurious materials, when he let drop an interesting fact. Last week the Italian government quietly changed the law it passed in November that banned retail establishments from accepting more than €1,000 in cash. Surprise!
Now, retail establishments have no limit on the cash they can accept from foreigners, as long as they take a photocopy of said foreigner’s passport. I’ll say that again: no limit. Italians are still restricted to €1,000. Read more