Valerie Hermann

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

In the game of fashion telephone, by which a rumour gets whispered to someone on the benches, which gets passed on, and so on, we have reached a new level of nuttiness: over the weekend, the New York Post speculated that Donna Karan’s tears as she took her bow at the end of her 30th anniversary show for her main line (left) — which they identified as her DKNY second line — somehow indicated she might be leaving, a rumour that was picked up by British Vogue’s website, and applied only to the second line – which then got picked up and spread by businessoffashion.com, a taken-seriously-by-the-industry website, which gives the whole thing a certain sheen of corporate credibility (it brought it to my attention, anyway). But let us pause for a minute to consider the likelihood of all this. Read more

This morning PPR revealed YSL CEO Valerie Hermann was leaving the company, but would not say where she was going. Well, this afternoon, the answer was revealed: Reed Krakoff. Read more