Just after Burberry’s nice third quarter results prompted a rash of headlines (including in this paper) about positive returns “easing [the industry’s] China slowdown fears,” especially when combined with similar happy stories from Swatch and Tiffany, today we came down to earth with a bump courtesy of Richemont. In their third quarter trading statement, things looked not so rosy in China. In fact, they looked pretty doldrum-like. Read more
Last week was menswear week in London – see Charlie Porter’s review – but in New York, it was womenswear everywhere. On Monday I saw eight “pre-fall” collections. Tuesday I saw another and, on Wednesday, I saw a 10th. What did I see? Well, tailored wool jackets. Mini-skirts. Prints – leopard and cheetah and floral and what Carven’s Guillaume Henry described as “sort of layered posters for Françoise Hardy albums”. Tuxedo dressing. And evening gowns. Lots and lots of evening gowns.
But the latter aren’t for pre-fall – that is, from next June/July until November, when this ridiculously named “season” is stocked in shops. The gowns are for tomorrow.
Don’t know about you, but it seems to me the economics of fashion are becoming increasingly abstract — and I’m not talking about the highly subjective concept of “brand value” (yes, I know there are equations to convert this into numbers, but boiled down to its essence it’s in the eye of the beholder, no?). I’m talking about celebrity endorsement investment, and a new concept I discovered last week: retail endorsement investment.