The Debrief: Recent Episodes

View Details

Hello Lauren Sherman here, we are interrupting our regularly scheduled programming today to share some news. After ten years of writing for BoF I am moving on to pursue some new projects and that means, sadly, that I no longer be hosting the debrief. It's been an absolute pleasure recording this podcast every week.

I want to thank you, to he tens of thousands of listeners who have tuned in each week this past year. I hope we entertained you and that you learn just a little bit more about this crazy industry that we all love. I have a feeling we'll meet again.

Stay tuned, we will be back! 

Subscribe for agenda-setting intelligence, analysis and advice, delivered straight to your inbox.

View Details

Occasionwear’s late-pandemic comeback may have felt like a reactionary fluke, but retailers and designers are betting it’s more than a trend.

Background:

Post-pandemic, occasionwear has been booming. During the second half of 2022 US and UK retailers introduced nearly twice as many dresses embellished with sequins, beads and jewels compared to 2019, according to retail intelligence firm Edited,. Over the same period, sequined dresses sold out 52 percent more compared to 2019, while high-heel shoes sold out 121 percent more. Retailers and designers don’t think the trend will slow any time soon as bold looks continue to flood runways and shop floors.

“It's natural that now that the world is even more open compared to last year when we had just gotten vaccinated, that there's this desire for a little bit of escapism,” said Cathaleen Chen, BoF retail correspondent.

Key Insights:

• Outside of work-from-home and sweatpants, there’s a growing appetite for loud, statement pieces that go beyond old occasionwear staples like sequins and bold colours, and expand into split-hem pants, corset tops and velvet shoes.
• Much about dressing up has changed too. Consumers are looking for versatility now more than ever, and demanding comfort out of occasionwear — opting for kitten heels rather than stilettos, and slip dresses rather than form fitting looks.
• Though some of the uptick can be chalked up to a pandemic hangover, and some styles will stay while others fade away, the statement dressing category will remain strong through 2023.
• Still, cycles of consumption and consumer sentiment remain unwieldy amid wider economic uncertainty.

Further Reading:

• Hyper Growth Is Over for Sneakers. What’s Next?
• Why Sequins and Platform Heels Are Here to Stay

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF’s executive beauty editor Priya Rao joins Lauren Sherman to unpack how the singer’s lifestyle label has managed to build a loyal fan base — without his direct involvement.

Background:

Harry Styles has managed to pull off a feat that has eluded countless celebrities, despite their many attempts: Building a popular beauty brand. He’s managed to do so even while taking a backseat when it comes to running Pleasing, his lifestyle line which predominantly sells nail polish as well as skin care and sweatshirts. Since launching in November 2022, Styles has not talked much about Pleasing publicly or on social media. But, the brand, created in partnership with his stylist Harry Lambert and creative director Molly Hawkins, has generated a plugged-in community of loyalists nonetheless.

“[Celebrities] are coming out with these really full lines that have nothing to do with what they’ve been about before. Pleasing really feels like Harry … like you’re getting a piece of Harry when you buy [products],” said Priya Rao, BoF’s executive beauty editor.

Key Insights:

• The Pleasing team, including stylist Harry Lambert and creative director Molly Hawkins, have distilled Styles’ aesthetic into a burgeoning brand — with fans who feel they’re buying a piece of the singer when they shop.
• Styles’ hands off approach has given the brand an interesting air of mystery, and his fanatical fans have helped build hype by visiting the brands’ maximalist pop-ups and collecting every colour of polish.
• Just because a celebrity or influencer has fans doesn’t mean their brand will be a hit — products have to be effective and messaging has to be on point for a label to have staying power.

Additional resources:

• Why Harry Styles Fans Can’t Get Enough of Pleasing
• Why Do We Root Against Celebrity Beauty Brands?
• The State of the Celebrity Beauty Brand
• Why Male Celebrities Are Launching Nail Lines

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

A new BoF Insights report tracks the evolution of the fast-growing high-end footwear market — and why luxury shoppers are willing to spend more than ever on the perfect shoe.

Background:

Luxury footwear is booming as consumers opt to spend more than ever on shoes with soaring prices. The market for designer shoes is set to grow to $40 billion by 2027, up from $31 billion in 2022, according to Euromonitor International. As consumer demand grows, competition is heating up for brands from Manolo Blahnik and Christian Louboutin to Chanel and Prada who stake much of their businesses on the core segment. The market is much-changed: shoppers crave comfort, but also newness and uniqueness. They also have more choices than ever: cowboy boots, Mary Janes, stilettos and mules have been trending recently.

“There was this vibe shift occurring post-pandemic. The shoes that consumers want today look and feel very different from what they had before,” said Diana Lee, BoF’s director of research and analysis, on the heels of publishing BoF Insights’ latest report “The Statement Shoe: Reimagining Designer Footwear.”

Key Insights:

• The footwear category is poised for growth this year: 84 percent of consumers surveyed across the UK, US and China told BoF Insights they were planning on investing in footwear in the coming year. At the same time, prices for women’s footwear have increased 10 percent from 2019.
• Shoes have gotten more expensive, partially, thanks to streetwear’s hype cycle, which has conditioned consumers to shell out for limited edition items. Of course, inflation and rising costs across the supply chain have contributed to increases.
• Much about the footwear market has changed. Mass trends toward casualisation have led consumers to seek out comfort, primarily, when buying shoes.
• Still, high heels are performing well following the return of in-person events. And, the high heel space has seen a sort of reinvention as brands opt for designs that grab consumers attention — like Loewe’s eggshell and balloon designs. Meanwhile, newcomers like Amina Muaddi are stealing share.

Additional resources:

• BoF Insights | The New Statement Shoe: Reimagining Designer Footwear
• BoF Insights | What’s Next for Luxury Shoes in 5 Charts

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

Background:

For fashion, one of the most alluring prospects for NFTs is how they could help brands collect royalties — forever — on secondary sales of physical goods. Though the mechanics of doing so are not ironed out yet, brands could ideally code NFTs tied to physical products with smart contracts triggered by certain conditions and benefit every time an item is sold, not just at the initial sale. But, technical loopholes used to circumvent loyalties and finicky marketplaces leave brands and creators without ways to enforce rules.

“One of the big principles of Web3 is these royalties are the idea that it's a creator led economy, it wouldn’t necessarily be controlled by a big centralised organisation … Except that’s not really playing out,” said BoF technology correspondent Marc Bain.

Key Insights:

• Marketplaces are responding to controversy over enforcing royalties. Opensea, one of the biggest Web3 marketplaces, wants to attract creators, so it has an incentive to honour creator royalties. Newer marketplaces just looking for sales are willing to cut fees for buyers.
• This has led to an existential crisis for the NFT community, showcasing that creators are not entirely in charge in a space that was touted as having enormous potential to empower them.
• Marketplaces and infrastructure for fashion brands that would want to get royalties for secondary sales don’t exist right now. It also remains to be seen how brands would scale such a system.
• A number of start-ups including EON and Aurora Blockchain Consortium are working on linking digital identities to physical goods, but doing so is complicated.

Additional resources:

• Is Fashion’s NFT Dream Over Before It Started?
• How Fashion Is Using NFTs to Sell Exclusive Physical Products
• The Secrets to a Successful NFT Drop

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

Much has changed about the world since the last recession — meaning, fashion’s reaction will shift this time around, explains BoF’s workplace and talent correspondent Sheena Butler Young.

Background:

Fashion is bracing itself for a 2023 filled with uncertainty. An impending recession hangs in the background of executives’ conversations about the year ahead. Leaders will have to strike a balance between safe-guarding their companies (which, may inevitably will include layoffs) while continuing to fuel growth and retaining crucial employees“There’s this mindshift shift that’s happened that people truly aren’t disposable … a lot of things that would have typically happened [during a recession] are now a last resort,” said BoF’s workplace and talent correspondent Sheena Butler-Young.

Key Insights:

• In the coming months, fashion executives will inevitably start pulling recession-reaction levers, including doing hiring pauses and layoffs, reorganising responsibilities across teams and reigning in focus on experimental spaces like the metaverse.
• But, market conditions are different now compared to prior recessions, and the industry has changed drastically.
• Because of the labour shortage, CEOs are first and foremost focused on keeping workers happy.
• Teams that were once considered “nice-to-haves” and “first-to-gos” — including sustainability and diversity and inclusion — have become crucial to business function for fashion companies in the past few years.

Additional resources:

• Advice From Fashion CEOs on Leading in a Recession
• Quiet Quitting, Labour Hoarding and Other Workplace Trends, Explained

Follow The Debrief wherever you listen to podcasts.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

Hosted on Acast. See acast.com/privacy for more information.

View Details

Background:

Leather alternatives have been called both industry-changing eco-innovation, and dismissed as mere plastic — covering up complexities in how products are made and how much better or worse for the environment they are. At the same time, brands are increasingly using buzzy terms like “vegan leather” and “plant-based” to sell products, without doing much to explain their environmental impact.

“You have to be very careful and very switched on to understand what it is you’re buying as a consumer,” said BoF chief sustainability correspondent Sarah Kent.

Key Insights:

• The emergence of items made with alternative materials — like mycelium, also known as mushroom “leather” — has sparked a conversation about how brands should name and market products without greenwashing.
• Because innovation is in its early stages, it's hard to understand, track and compare impact versus leather. Without clear data, the space is difficult to regulate.
• Plastic is a dirty word. But, the material is so useful, it's hard to replace in fashion. Most available leather alternatives aren’t plastic free, but rather, just feature reduced plastic content.
• For brands working with such materials, the best course of action when it comes to talking about them is to be transparent with the consumer — rather than leading them to believe they’re buying a magic, new harmless material.

Additional resources:

• The Truth About ‘Vegan Leather’
• The Debrief: Is This the Beginning of the End for Leather?

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

In the past decade, the independent label has grown from downtown storefront to indie force with $40 million in net sales so far this year. BoF contributor M.C. Nanda breaks down how founder Gaëlle Drevet did it.

Background:

Whether you know it or not, you’ve come across The Frankie Shop. Founded by former journalist Gaëlle Drevet in 2014, the brand’s monochrome tracksuits, oversized blazers, T-shirts and cargo pants have become almost ubiquitous amongst a certain set of Instagram creators, and a staple for downtown fashion types across the globe. Over the past few years, the brand has expanded from a single Lower East Side Manhattan store front, to three (including two in Paris), inked retail partnerships with Matchesfashion and Ssense, and generated $40 million in net sales so far this year. Now, The Frankie Shop is charting its next phase of growth, with expansion into menswear and home.

“There is consistent demand — they’re not over extending themselves, which I think can be a really hard brand to toe as a brand of this size,” said BoF contributor M.C. Nanda.

Key Insights:

• The Frankie Shop started as a multi-brand store carrying up-and-coming brands that are now industry mainstays, including Ganni and Loulou Studio.
• Drevet soon started producing her own items. Her label took off partially because of her ability to stay attuned to, and draw in influencers with newness and keen styling — without having to resort to paid posts.
• The brand has managed to toe the lines between cool and cheesy, high end and accessible, basic and trendy. Often, items are paired with pieces from higher end labels like Toteme and The Row.
• The Frankie Shop operates on a drop model, which has kept it in demand and helped the independent brand grow in a manageable way without taking on additional funding.

Additional resources:

• What’s Next for The Frankie Shop
• Aimé Leon Dore’s Teddy Santis on New Balance and the Future of Menswear

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF retail correspondent Cathaleen Chen details the consumer shifts that have made it easier — and more popular than ever — to buy luxury dupes.

Background:

A growing number of young consumers are embracing counterfeit Prada loafers and Gucci bags, as the internet has made access to these dupes easier than ever. The value of the fake and pirated goods market has tripled since 2013 to be worth $3 trillion, according to the Organisation for Economic Co-operation and Development. That’s thanks to a number of factors. For one, websites like Aliexpress and DHgate connect consumers directly with counterfeit manufacturers. It’s no longer a necessity for the dupe-curious shopper to visit the shady alleys of Canal Street. Meanwhile, the skyrocketing prices of luxury products are pushing aspirational shoppers away.

At the same time, the quality of luxury goods has diminished as much production has been outsourced to Asia, narrowing the gap between what’s real and what’s fake. Lastly, social media and constant seasonal trends have conditioned consumers to covet not only the “it” bag of the season but shoes, tank tops and more.

“I think there’s a sense of consumer alienation with luxury goods — where it's like you’re super close to it, but at the same time it's extremely inaccessible,” said retail correspondent Cathaleen Chen.

Key Insights:

• Counterfeits have gotten much easier to find and buy: Chinese websites like DHgate and AliExpress ship inexpensive dupes to Western consumers’ doorsteps.
• The stigma of owning a “fake” has faded. Young consumers no longer see buying from brands as a sort of fashion moral imperative — they even show off counterfeit items from sites like DHGate and AliExpress in viral TikTok hauls.
• Due to price increases, once-aspirational items from Chanel or Louis Vuitton are now out of reach for middle class consumers looking to splurge.
• The counterfeit surge doesn't seem to be affecting the bottom lines of luxury goods companies, whose profits have only risen in the past few years.
• Resale plays an interesting role in the counterfeit conversation. On the one hand, resale could curb the continued growth of dupes by providing shoppers an entry to luxury pieces. On the other, resale is particularly vulnerable to fakes, as platforms have to be on guard against ever-more-sophisticated fakes.

Additional resources:

• https://www.businessoffashion.com/articles/luxury/fashion-counterfeit-problem-authentication-technology/
• https://www.businessoffashion.com/articles/global-markets/china-luxury-counterfeits-flourish-louis-vuitton-covid-19-douyin-pinduoduo/

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

As the economy weakens and funding dries up, digital brands may face pressure to sell from investors. To do so, they’ll need to prove they’re more than just another money-losing start-up.

Background:

Over the past few years, investors have been bullish on fast-growing digital brands — rewarding their rapid sales growth with sky-high valuations. More recently, physical retail has rebounded and e-commerce sales have shrunk. As a result, a number of digital-first brands are burning through cash as inflation and the cost of goods rises. VCs are increasingly wary of investing in companies without clear paths to profitability, so a number of those money-losing labels are finding it difficult to raise funds. Many, with few options to weather the imminent recession, are looking for an exit.

“A great deal of these digital brands were growing at all costs… people did not anticipate a large slowdown and then a possible recession — so they weren’t managing their money well,” said Malique Morris, BoF direct-to-consumer correspondent.

Key Insights:

• To catch the eye of a potential investor, brands must focus on profitability. But they also need to set themselves apart with new ideas and business models.
• A number of retailers struggling to adapt to shifting consumer tastes — like Victoria’s Secret, which acquired lingerie start-up Adore Me in November — are in need of a boost.
• To set the stage for an attractive exit, Ministry of Supply, which sells wrinkle-free dress shirts, has focused on getting old customers to make additional purchases, rather than acquire new ones.
• Seeing lower valuations, profitable brands that are attractive acquisition targets don’t have much incentive to sell at the moment.

Additional Resources:

• https://www.businessoffashion.com/articles/direct-to-consumer/buck-mason-ministry-of-supply-adore-me-dtc-acquisitions-/
• https://www.businessoffashion.com/articles/entrepreneurship/why-venture-capital-is-a-bad-fit-for-most-fashion-businesses/
• https://www.businessoffashion.com/articles/entrepreneurship/a-new-model-for-funding-fashion-start-ups/

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

The BoF Insights team shares details from their recent report on why these young consumers are so crucial to the success of the fashion industry — and what brands can do to woo them.

Background:

Gen-Z, or those born between 1997 and 2010, accounts for 25 percent of the world’s population. With the oldest of the generation turning 25 this year, the group has already come into its own with a purchasing power of about $360 billion. Fashion brands have always chased youth, but Gen-Z brings a whole new set of marketing challenges. Having grown up in the midst of rapid technological advancement, a worsening climate crisis and global movements like Me Too and Black Lives Matter, Gen-Z has been characterised as more pragmatic and socially aware, while also being trend-fixated. The contradictions are endless.

Key Insights:

• Sometimes, Gen-Z contradicts itself. For example, top fashion brands including Nike and Gucci were among the general group’s favourite brands — but smaller focus groups said they wanted to support underrepresented designers. As well, fast fashion brands like Shein are popular, but the group says they care about sustainability.
• Gen-Zers increasingly impact the economy. However, the group will come into its own with more financial insecurity than those before it.
• BoF Insights distilled the demographic down to a few key personas with distinct characteristics to understand its habits and behaviours: the forgers, signatures, satellites, rebels, explorers and idealists.
• Generally, brands should communicate with Gen-Z in a casual, natural, community-forward way. The group is less beholden to traditional tastemakers, and trends move fast.

BoF Insights is the new data and analysis think tank from The Business of Fashion, arming fashion and luxury professionals with the business intelligence they need to make better strategic decisions. For more insights, please see BoF Insights’ archive on topics like designer bags, resale, digital fashion, and fashion’s supply chain.

Additional resources:

• https://www.businessoffashion.com/reports/retail/gen-z-fashion-in-the-age-of-realism-bof-insights-social-media-report/
• https://www.businessoffashion.com/articles/retail/implications-of-gen-z-for-the-fashion-industry-bof-insights-charts/
• https://www.businessoffashion.com/events/retail/gen-z-and-fashion-in-the-age-of-realism-bof-live-insights-report/

Hosted on Acast. See acast.com/privacy for more information.

View Details

A panel of experts, including BoF’s Lauren Sherman and Diana Pearl, detail how the business of influencing has evolved — and where it's all going.

Things move fast on the internet. In just the past few years, there have been a number of changes in the social media space and the influencer economy built around it. For one, brands are betting on influencers with day jobs, working with creators like Sky Ting Yoga founder Krissy Jones or James Whiteside, principal dancer at the American Ballet Theatre, as they look for relatable ambassadors to reach engaged audiences. The line between the average social media user and influencer is increasingly blurred as non-influencers endorse products online. Widely, people learn more about brands from other people, rather than brands’ own storytelling. It's becoming even more important for brands to be on every platform — and influencers to have their own platforms.

Key Insights:

• In many ways, the shift represents a return to old days of influence — where hobbyists set up YouTube channels and churned out authentic content viewers found refreshingly relatable.
• Influencer pay increased almost 50 percent overall from 2020 to mid-2021, said Nord. But, there are a lot more influencers getting paid, which means more competition as brands have a deepening pool of options.
• There’s been a shift to video-first content. And younger generations are starting to snag brand deals from more established figures.
• Overall, marketers are paying whether influencers actually have influence — not just followers.

Additional Resources:

• Why You Should Hire an Influencer With a Day Job: Influencers who gained online fame for offline pursuits are rapidly earning brand attention, but working with them requires a different type of partnership.
• Why Nordstrom Appears to Be Pivoting Away From Influencers: Influencers helped turn Nordstrom’s Anniversary Sale into a major moment for the department store. This year, they say the retailer is leaning less on social media marketing, leading some creators to downplay the annual event.
• Is Now the Time to Hire a Virtual Influencer?Virtual influencers had faded from fashion campaigns, but now amid all the metaverse hype they’re popping up again, with Prada and Pacsun turning to virtual faces.
• The Complete Guide to Influencer Marketing: As the creator space has matured, brands must be thoughtful about crafting a strategy that leverages influencer marketing’s full power, considering everything from talent scouting to the effectiveness of metrics.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF’s Daniel-Yaw Miller discusses streetwear’s evolution from subculture to high fashion favourite — and whether the aesthetic’s waning influence spells its end.

Background:

After years of build up, from its origins in cultural movements like New York’s hip-hop scene and LA’s skating community to early commercialisation in the early 2000s from brands like Fubu and Stussy and Japanese designers Nigo and Hiroshi Fujiwara, by the late 2010s, streetwear found itself at the centre of luxury fashion. The breaking point came in 2018, when, after success at his label Off-White, Virgil Abloh was named creative director of Louis Vuitton.

But lately, streetwear institutions like Bape and Stussy have been losing heat — and luxury brands are pivoting away from streetwear staples like hoodies and sneakers.

“Streetwear brands are more commercial and less connected to the actual street culture where they found their roots,” said BoF editorial associate Daniel-Yaw Miller.

Key Insights:

• Streetwear brought items like puffer jackets and hoodies, graffiti details and logo-centric designs to high fashion runways.
• Lately, designers have been more focused on harder shoes, knitwear and tailoring. But, streetwear-centric items haven’t disappeared from brands’ assortments, they’re more absorbed into the core offerings — and in consumers' day-to-day wardrobe.
• A new crop of brands, including Daily Paper, Corteiz and Free The Youth, are making the case for streetwear’s enduring fashion relevance.
• Streetwear mainstay Supreme is still driving growth with its savvy marketing and collaborations. Owner VF Corp. said it expects the label to generate $600 million in revenue this year — up from $500 million when it was acquired in 2020.

Additional Resources:

• Why Supreme Sold to VF Corporation: In a deal that values the New York streetwear brand at $2.1 billion, Supreme picks up a long-term partner with back-end prowess and ambitions to scale it past $1 billion in annual sales.
• Is Streetwear Still Cool? Luxury brands may have pivoted away from sneakers, puffer jackets and hoodies, but new labels like Corteiz and Free The Youth are making a case for street culture’s enduring relevance in fashion.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF luxury editor Robert Williams unpacks how the French luxury brand has managed to grab the industry’s attention and maintain a sound business model without outside help.

Simon Porte Jacquemus is one of fashion’s hottest independent designers — and his namesake label is one of its most impressive businesses. The company, known for its tiny bags and minimalist playfulness, is on track to double annual revenues to over €200 million ($199 million) by year-end, with plans to reach €500 million by 2025. The designer has been able to build buzz with his clear brand vision, and savvy ability to storytell through social media.

“He was one of the first designers to realise how powerful of a tool Instagram was going to be, and to have something really compelling to say on that platform — to have a universe that was just really organically compelling,” said BoF luxury editor Robert Williams.

Key Insights:

• Simon Porte Jacquemus has managed to build a scalable luxury start-up without the help of a conglomerate or big investor: a rarity in fashion. Jacquemus thinks the pressure to up sales every season to keep the business running pushed him to commercial success.
• Armed with a new store on Avenue Montaigne, the brand reaches up into luxury prices, but maintains a more accessible, fun, young and playful bent.
• Handbags — led by the brand’s hit, Chiquito style — are an essential profit driver for the business.
• With a new CEO on board in Puig’s Bastien Daguzan, the brand is looking to solidify its footwear business and diversify its menswear offering.
• As of now, Jacquemus does not plan on taking outside investment. The brand believes it's momentum and strong retail partnerships will help it reach its sales goal of €500 million by 2025.

Additional Resources:

• Jacquemus: A Fashion Star’s Business Vision: For the first-time, the industry’s hottest independent designer — a charismatic, social-media savvy storyteller from the south of France — reveals the financial underpinnings of his burgeoning company and plans for the next phase of growth.
• How to Open a Store in 2022: From seamless online-to-offline offerings to metaverse-inspired installations, the standards of brick-and-mortar retail have evolved since the pandemic struck.
• Jacquemus, Now Nike-Approved, Opens ‘New Era’ in Provence: Simon Porte Jacquemus’ showmanship, social-media savvy and ultra-recognisable designs have turned his regionally-inspired label into a global hit.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF editor-at-large Tim Blanks describes the designer and businessman’s life, continuing impact on fashion, mysterious succession plans and newfound vulnerability.

Over his decades-long career, Giorgio Armani has built one of fashion’s most successful businesses. Known for his signature tailoring and functional glamour, at 88, he’s retained his dominance in an ever-changing, hyper-competitive industry. Amid speculation about what's to come for the Armani fashion empire, BoF editor-at-large Tim Blanks met the titan at his garden in Milan for an intimate conversation about his life, business and future — including succession plans.

“He was a revolutionary in his own way. I can think of maybe five people in fashion who had the impact he had,” said Blanks.

Key Insights:

• The Bloomberg Billionaires Index estimates Armani has a personal net worth of $9.5 billion. He still owns and runs his company and as Blanks says, may value his independence more than anything.
• Rumours about Giorgio Armani’s future after Armani include a potential takeover by Bernard Arnault’s LVMH, the Agnelli family’s Exor or Valentino parent Mayhoola.
• One thing people don’t fully realise about Armani is he is an eccentric, said Blanks. Armani told Blanks his eccentricity lies in his radical approach to design, which is both streamlined and nuanced.
• Armani’s close relationship with partner Sergio Galeotti, who passed away in 1985, has helped fuel his ascent to status as fashion’s most successful designer. Now, Armani, who has no children and doesn’t claim many friends outside his family and his company, is leaning into a new kind of love and vulnerability, thanks to the presence of his collaborator’s young daughter at the office.

Additional Resources:

• Giorgio Armani: Lion in Winter

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

How the 75-year-old luxury house tripled its revenue in just four years, according to BoF luxury editor Robert Williams.

Background:

In 1947, months after being founded, Christian Dior Couture revolutionised dressing with its “New Look,” an exaggerated hourglass-shaped silhouette. In the ’80s, the then-withering brand was bought by entrepreneur Bernard Arnault, who would eventually transform it into one of the largest luxury labels in the world. In 2017, when LVMH — of which Arnault is CEO and chairman — took full control of the house, Dior transformed into one of fashion’s fastest-growing and most profitable labels — with estimated revenues of €6.6 billion.

“[LVMH] just said ‘We need to … do what it will take to get this business on the scale of these really big brands like Gucci, Louis Vuitton and Chanel,’” said BoF luxury editor Robert Williams.

Key Insights:

• More than a decade after buying Dior, Arnault hired designer John Galliano — who introduced the Lady Dior bag — and appointed executive Sidney Toleando (now chief executive of LVMH fashion group) to refashion Dior as a modern luxury brand.
• While Galliano and Toledano fully cemented Dior as a global fashion and leathergoods player with a robust beauty business over their 15-year partnership, the brand entered a new phase in 2017, when Arnault moved Dior from his personal holdings to LVMH.
• Dior has found success post-pandemic as the result of a communications and product overhaul, embedding couture craftsmanship into its runways and opening e-commerce and immersive flagships.
• Dior’s positioning between Gucci and Chanel in terms of classic vs. edgy aesthetic, and price has become attractive for consumers.
• The brand’s beauty and fashion lines are segmented, which has led to a certain amount of success, particularly in the company’s perfume business. Now, the brand is slowly starting to connect the two to power the business.
• Dior’s total control over its brand — where it only sells through its channels, doesn’t discount and isn’t separated out on LVMH’s balance sheet — allows it to protect itself from investor demands and excess product risk.

Additional Resources:

• https://www.businessoffashion.com/case-studies/luxury/christian-dior-strategy-lvmh-pietro-beccari-maria-grazia-chiuri-kim-jones/

• https://www.businessoffashion.com/articles/luxury/diors-maria-grazia-chiuri-a-fashion-hitmakers-method/

• https://www.businessoffashion.com/podcasts/luxury/why-chanel-is-opening-private-boutiques/

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

Patagonia founder Yvon Chouinard’s is giving away his billion-dollar company. BoF chief sustainability correspondent Sarah Kent explains why — and what influence the change could have on the culture of business.

Background:

Patagonia has long been the standard bearer for responsible capitalism: the jackets and fleece maker has donated 1 percent of all sales — which top $1 billion a year according to The New York Times — to environmental groups since the ’80s, and was one of the first companies to qualify for B-Corp sustainability certification. In its latest bid to live out its mission statement, “founder Yvon Chouinard gave most of Patagonia’s shares over to a non-profit which will be tasked with reinvesting its profits (projected at some $100 million a year) in fighting the climate crisis. “Earth is our shareholder now,” Chouinard wrote in an open letter on the company’s site.

“This is pretty unprecedented. Individuals don’t do this, and it almost broke the bounds of what people had imagined business should look like, ” said BoF chief sustainability correspondent Sarah Kent.

Key Insights:

• Chouinard created a structure in which Patagonia’s profits cycled toward charitable endeavours focused on climate change in perpetuity.
• All shares priorly held by the Chouinard family will be given away to different entities, two percent of shares will be put into a trust which will govern the company and ensure it operates in line with responsible business practices and the other 98 percent will be held by a non-profit that will be responsible for distributing them.
• Through the years, Patagonia has made it a goal to balance turning a profit with encouraging responsible spending. It's managed to go about communicating that in an authentic way because it's transparent about the tension between those two goals.
• While the move by Patagonia will be hard to replicate elsewhere (given shares were owned by the family), it has created a template that could be used on a smaller scale.

Additional Resources:

• Can Patagonia Make Capitalism Climate Friendly?

• Patagonia’s Radical New Ownership Structure, Explained

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

After years of speculation, designer e-tailers are finally consolidating in an effort to increase profits and gain market share. BoF’s Robert Williams and Tamison O’Connor unpack what’s in store for major players including Farfetch, YNAP and MatchesFashion.

Background:

The launch of Net-a-Porter in 2000 changed fashion forever, heralding the first phase of luxury e-commerce, and inspiring a slew of competitors to get in the game. But in an increasingly competitive market, e-tailers have struggled to retain pricing power and turn a profit. Now, the space is starting to see some consolidation. In August, Farfetch took a stake in Yoox-Net-a-Porter Group, which laid the groundwork for an eventual acquisition, and allowed Richemont to offload the platform — which had long weighed on its portfolio.

“This deal is a pretty major step for Farfetch in terms of setting up the platform to solidify a dominant position… YNAP was Farfetch’s biggest competitor,” said Tamison O’Connor, BoF luxury correspondent.

Key Insights:

• As part of the deal, Farfetch acquired a 47.5 percent stake in YNAP, in an agreement that contains provisions for a full acquisition within a full year. Farfetch will power YNAP’s technology, and sell YNAP inventory — including Richemont brands — on its own platform.
• E-commerce can be hard. Farfetch is attractive to brands because it offers back-end management, stock management and connection to the company’s fulfilment logistics network, at a time when brands are struggling to wrangle their supply chains due to macroeconomic challenges.
• Brands are getting better at creating curated universes on their own sites, and that could end up hurting multi-brand e-tailers, who have set big growth expectations with investors.
• Farfetch has struggled to build a brand to match its business ambitions, where players like Mytheresa, Matches and Net-a-Porter — while facing their own challenges — have stronger identities.

Additional Resources:

• Richemont, Farfetch and YNAP: Understanding a Transformational E-Commerce Deal: The Swiss luxury group is spinning off Yoox Net-a-Porter in a joint venture with Farfetch. What does it mean for Richemont, Farfetch, YNAP and the luxury industry at large? BoF dissects the deal.
• Inside Farfetch’s Bid to Dominate Luxury E-Commerce — Download the Case Study: During a blockbuster year for online sales, Farfetch surged ahead of rivals to position itself at the front of luxury’s e-commerce race. Can it spin the current momentum into sustainable — and profitable — growth and become the unrivalled platform for luxury fashion online?

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF’s retail correspondent Cathaleen Chen joins The Debrief to discuss how the mall brand plotted a turnaround that’s starting to pay off.

Background:

Gap Inc. has had a hard year, accented last week by a dramatic Ye break-up following an anticlimactic retail roll-out of Yeezy Gap, which it staked its comeback on a year ago. Old Navy sales sank, and its once fast-growing sportswear label Athleta has seen sales level. But there’s been one glimmer of hope in the midst of it all: Banana Republic. The long-struggling mall brand’s sales were up 9 percent in the quarter ended July 30, helping to send Gap Inc. shares up 6 percent after what was an otherwise grim report. It seems the company is finally starting to see the payoff of the brand and product re-fashioning it started a year ago under chief executive Sandra Stangl and then-chief brand officer Ana Andjelic.

“For the first time in a long time, it's exciting, it's different — and the fact that it’s not for everybody serves an advantage for Banana, because it finally has a point of view,” said retail correspondent Cathaleen Chen.

Key Insights:

• After getting lost in an amalgamation of indistinct mall brands, Banana Republic has started to redefine itself with a pointed aesthetic that doesn’t serve every consumer — reinventing its look and product offering. It launched a line “Imagined Worlds” IS THIS THE RIGHt NAME?” that nods to its heritage as a travel and safari line.
• Half of Banana Republic’s sales come from its off-price segment.
• Best known for time spent at Restoration Hardware, Stangl has focused on improving in store experience and leaning more into the idea of BR as a lifestyle brand.
• Overall, the Banana Republic makeover could be a learning experience for Gap, which hasn’t yet mounted a brand turnaround as significant as this.

Additional Resources:

• How Banana Republic Became a Bright Spot in Gap Inc.’s Portfolio: The mall retailer saw sales rise after swapping generic office clothes for a stronger point-of-view inspired by its safari-themed origins. The new look wasn’t for everyone — and that was the point.
• The Secret to Breathing New Life Into Old Brands: Banana Republic, J.Crew, Express and other mall brands are all promoting a new, more digital and fashion-forward identity in a bid to regain relevance.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

Louis Vuitton is expected to name its Virgil Abloh successor within weeks. BoF’s Imran Amed joins Lauren Sherman to discuss what luxury labels think about when recruiting top designers.

Background: Louis Vuitton has spent almost a year searching for a Virgil Abloh successor after the designer died in November 2021. According to sources, Martine Rose, Grace Wales Bonner and Telfar Clemens are among the names that were considered by owner LVMH, and the decision is expected to be announced within weeks. But how do brands like Louis Vuitton even go about finding a designer?

“Without the creative energy, without that kind of excitement, there’s nothing to sell,” said Imran Amed, BoF founder and editor-in-chief.

Key Insights: * While all brands have their own personality and the situations that necessitate finding a new creative director differ, the things most brands look for in a leader are similar. * Executives have to consider whether they’re looking for revolution, like when Gucci tapped Alessandro Michele for creative energy and new ideas, or evolution, like when Saint Laurent tapped Anthony Vaccarello to keep its aesthetic formula after Hedi Slimane departed. * A strong vision is the most important thing. But creative directors also need to have commercial sensibility and the ability to work in a corporate environment. * One of Abloh’s achievements was that he managed to build a community at Louis Vuitton, and engage consumers who had been traditionally excluded by the luxury industry.

Additional Resources: * Virgil Abloh: Building on a Legacy: Like Yves Saint Laurent, Alexander McQueen and Gianni Versace before him, the late Virgil Abloh leaves a powerful legacy. What does this mean for Off-White and Louis Vuitton? * Which Luxury Leadership Configuration Works Best? In luxury fashion, the right configuration of creative and commercial leadership is critical to success, writes Pierre Mallevays.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF’s workplace and talent correspondent Sheena Butler-Young unpacks how fashion’s labour market has evolved in the past year, and what positions brands are hiring for now.

Background:

As companies confront a potential recession, they’re making changes to the way they hire, and who they hire. During the pandemic, the number of fashion jobs requiring expertise in web3 or the metaverse rose exponentially. But now, brands are once again focused on hiring for jobs in traditional areas like human resources, supply chain and finance that can help meet new consumer demands.

“The pandemic has fundamentally changed the way people work,” said BoF workplace and talent correspondent Sheena Butler-Young.

Key Insights:

• Brands are having to scale up how they address environmental social and governance issues as regulations and laws emerge around climate impact and fair labour practices. That’s driven the need for lawyers and people attuned to environmental studies.
• Examples of legislation and regulation brands are thinking about include the US’s Uighur Forced Labour Prevention Act, which made it illegal to bring in goods from China’s Xinjiang region and the UK’s Competitions and Market Authority's probe into sustainability claims made by fast fashion brands.
• Supply chain has gone from a back-office function to be more closely connected to consumer experiences.
• DEI departments are evolving: most human resources employees say diversity roles should not sit in HR, but rather, in the C-suite, next to chief executives. Added to that, chief diversity officers are starting to get better budgets and hire managers and directors.

Additional Resources:

• Fashion’s In-Demand Jobs: Recruiters say interest in the metaverse is cooling, while brands look for candidates with the real-world expertise to navigate uncertain times.
• How to Know When Layoffs Are Coming — And What to Do About It: Fashion workers worried about their jobs amid an economic downturn should watch for warning signs and look for ways to transition their role if the worst happens.
• What Makes a Great Fashion Office: More and more companies want to see their staff in person again. Creating a work environment that fosters collaboration, offers flexibility and thoughtful perks could convince employees to leave the home office behind.

Follow The Debrief wherever you listen to podcasts.

Hosted on Acast. See acast.com/privacy for more information.

View Details

BoF technology correspondent Marc Bain and contributor Chantal Fernandez join Lauren Sherman to discuss how TikTok took over fashion conversation — and what brands need to know to get the most out of the platform.

Background:

It seems Instagram’s autonomous rule over fashion is finished. While the Meta-owned app still has more users, a growing number of brands and creators are turning to TikTok as their go-to marketing platform. As TikTok ascended to Gen-Z-favourite status, fashion and beauty used the app as a space for experimentation, while doing most of their marketing on Instagram. That is starting to change — and it's shaking up the way brands approach their social media channels.

“The content demands on brands are just escalating and escalating,” says BoF contributor Chantal Fernandez.

Key Insights:

• Just a year ago, TikTok wasn't taken seriously as a marketing platform by fashion brands, which struggled to adapt their polished content to its loosy-goosy approach. Now, it's seen as a place where all brands need to have a presence. However, returns on TikTok marketing investment aren't great yet. The app is still pretty new, where Facebook and Instagram have decades-old, more sophisticated advertising platforms.
• For influencers, wannabe influencers and regular users, TikTok is appealing because it has created a relatively level playing field, where anyone could go viral at any moment. Casual, personality-forward content is preferred over high-production, over-the-top shoots and scenes.
• Instagram still plays an important role for influencers and brands. It can serve as a channel for reaching older consumers, showcasing products and can act as almost a secondary website or blog that people refer back to.
• Prompted by the rise of TikTok, social media is moving away from being social — and more toward acting as a sort of recommendation machine, where algorithms decide what’s shown to users.

Additional Resources:

• How TikTok Won Over Fashion
• The Returns on TikTok Ads Don’t Match the Hype Just Yet

Follow The Debrief wherever you listen to podcasts.

View Details

BoF’s Sheena Butler-Young and Tamison O’Connor join Lauren Sherman to discuss how a new generation of entrepreneurs are driving growth in this underdeveloped category.

Background:

Monique Rodriguez turned a series of Instagram tutorials — where she made hair care concoctions out of ingredients found in her kitchen — into one of the most recognisable multicultural hair care brands in the US, Mielle Organics. The label just secured a reported $100 million non-controlling investment from Berkshire Partners that will help Rodriguez, who is now one of fewer than 100 Black women founders to have secured at least $1 million in funding, scale her business independently.

Products for natural hair is a billion-dollar plus business in the US, and getting more attention from investors as they start to recognise its enormous untapped potential and historical neglect. At the same time, founders are re-thinking how products are made, marketed and distributed to consumers.

“The next class of Black hair care founders want to flip the narrative arc: this isn't a segment, this is the market,” said BoF correspondent Sheena Butler-Young. ”I think that's where we're headed. That's the goal of these kinds of brands.”

Key Insights:

• The textured hair category remained relatively stagnant even as beauty saw a wider branding evolution with the rise of brands like Glossier that changed attitudes in beauty about the way brands can look and market themselves. Now, that’s changing.
• Rodriguez does a lot of education on entrepreneurship — specifically, highlighting that selling a brand isn’t “selling out,” though some shoppers may see it that way. Getting acquired can lead to better access to retailers and distribution deals, as well as better prices and product availability for consumers.
• For a long time, fashion and beauty has neglected to direct proper attention and resources to catering to and courting the Black consumer. That’s shifting as it has become clear to investors and brands they are leaving money on the table.

Further Reading:

• Rethinking Luxury’s Relationship With Black Consumers
• How Mielle Organics Is Rewriting the Playbook for Black Hair Brands
• Modernising the Black Hair Care Market

Follow The Debrief wherever you listen to podcasts.

View Details

Mounting customer acquisition costs and a pressure to grow fast have made it hard to build a profitable DTC business. BoF deputy editor Brian Baskin and retail correspondent Cathaleen Chen join Lauren Sherman to analyse the past, present and future of the market.

Background:

About a decade ago, a number of flashy direct-to-consumer brands peddling premium products and promising to cut out retail’s middlemen emerged on the scene. Quickly, names like Warby Parker, Allbirds and Glossier attracted investor attention with battle cries of disruption, setting off a DTC boom. They managed to raise hundreds of millions of dollars, and garner valuations in the billions of dollars. However, the market as a whole has largely failed to live up to sky-high expectations. How does the model need to change?

“Over the last year or so, investors are looking around and saying ‘wait a minute, you told us you’d get big enough and the profits would come. Where are the profits?’” said BoF deputy editor Brian Baskin. “Consumers have also looked around and said, ‘ok, I got my Allbirds sneakers — what else you got for me?’”

Key Insights:

• The pandemic exposed a huge flaw in the DTC model: scaling ultra-fast without the support of multi brand retailers is tough — and often requires heavy spending on customer acquisition. . In both private and public markets right now, investors have little patience for brands that aren’t profitable.
• Today, DTC brands are embracing other distribution channels in order to scale, or choosing to grow more slowly.
• Growing a profitable DTC brand can be done with tight control over spending, scrappiness and smart marketing. AYR — a basics brand that started in 2014 as a Bonobos subsidiary and was later taken over independently by its co-founders — is on track to hit $60 million in sales, having only taken around $6 million in funding.

Additional Resources:

• Why the DTC Model Can Still Work

• The Direct-to-Consumer Reckoning

Follow The Debrief wherever you listen to podcasts.

View Details

BoF’s Cathaleen Chen and Marc Bain join Lauren Sherman to talk about retailers’ big hires, hopes and plans for bringing their brands back to life.

Background:

J.Crew and Gap defined how Americans dressed for much of the ’90s and 2000s, until their clothes grew stale, malls emptied out and fast fashion took retail’s reins. Then, during the pandemic, J.Crew filed for bankruptcy and Gap closed hundreds of stores. More recently, they’ve both orchestrated attempts to win back consumers: Gap, with its Yeezy-Gap collaboration, and J.Crew, with new mainline designers, including former Supreme creative director and Noah-founder Brendon Babenzien, whose menswear collection dropped a few weeks ago.

Though they share similar histories, the retailers’ comeback plans couldn’t be any more different.

“[Fashion] is a challenging business because people love it but to actually make money in it is not the easiest thing in the world… It takes a lot of ruthlessness and difficult decision making,” said Lauren Sherman, BoF chief correspondent.

Key Insights:

• In the late-aughts, CEO Mickey Drexler and designer Jenna Lyons turned J.Crew into a fashion powerhouse before insurmountable debt sent it into bankruptcy a few years later. Meanwhile, Gap struggled to define its design aesthetic after dominating 1990s mall fashion with its preppy basics.
• With its 2020 appointment of the artist then known as Kanye West, Gap has been able to generate hype, but not sustained sales. Yeezy Gap and Gap are still mostly bifurcated: its retail rollout in Times Square featured clothes in black trash bags, in a blacked-out room separate from the rest of the Gap store.
• Gap has a mostly mass-market customer — begging the question of whether Yeezy Gap, even if better integrated into its model, is the right fit.
• Under former Madewell chief Libby Wadle’s leadership, J.Crew has restructured and tapped two sharp designers to home in on its heritage while edging it up and playing with trends.
• Babenzian released his first collection in late July, which generated a ton of buzz on social media.
• Both retailers face significant headwinds, but J.Crew is best poised to win given its balanced merchandising strategy aimed at satisfying new and old customers, said retail correspondent Cathaleen Chen. Particularly tough, added technology correspondent Marc Bain, is the fact that Gap is so large, and beholden to shareholders.

Additional Resources:

• J.Crew’s and Gap’s Comeback Playbooks Couldn’t Be More Different. Only One Is Working: After the pandemic, the American retailers hired big fashion names to breathe life into their brands. But as the collections released this week show, the similarities end there.
• The J.Crew Comeback Starts Now: With its new menswear collection under creative director Brendon Babenzien, the retailer has its best shot in years at returning to the fashion zeitgeist.
• Yeezy Gap Brings a Dystopian Retail Experience to Stores: Clothes from the collaboration between Gap and Ye (formerly Kanye West) went on sale in a physical Gap store for the first time today, in a blacked out space where clothes were piled into plastic bags.

Follow The Debrief wherever you listen to podcasts.

View Details

In an effort to reignite consumer fire, the Italian megabrand has done some restructuring. Bernstein luxury analyst Luca Solca breaks down what it all means.

Background:

In the late 2010s, Gucci pulled off a successful turnaround by aligning creative director Alessandro Michele’s unique, baroque aesthetic and Jacopo Venturini’s expert merchandising under the leadership of chief executive Marco Bizzarri, according to Luca Solca, Bernstein luxury analyst and BoF contributor. They injected the brand’s heritage and tradition with streetwear codes and coolness — bringing more casual products like sneakers into the luxury fold, and sparking the era of “new luxury,” said Solca.

Lately, the brand has started to see momentum slow, falling behind rivals on organic growth. In search of a boost, Gucci has reorganised, introducing two newly created roles to support creative director Alessandro Michele.

“The onus is on Gucci to continue to drive newness so that consumers can turn their heads and say, ‘Wow, this is something I don't have. I want to buy it,’” said Solca.

Key Insights:

• One of creative director Alessandro Michele’s longtime deputies will develop the brand’s commercial collections in the newly created role of design studio director. Maria Cristina Lomanto will oversee merchandising and brand elevation as executive vice president, brand general manager.
• The shifts are a signal of Gucci’s intent to appeal to more consumers, while searching for a creative spark. Its biggest challenge right now, according to Solca, is for Gucci to “drive newness” to spur consumer demand.
• Gucci is also trying to move even further up-market, a huge challenge because it requires momentum and scale. But, Gucci is relatively well-positioned to do the significant amount of marketing and investment required to elevate a brand, given the now over €10 billion in annual sales it generates.
• Michele has been creative director of Gucci for seven years; a long tenure by today’s standards. Relying more on a wider team could help mitigate the risks associated with an eventual creative transition for Gucci as it targets annual sales of €15 billion.

Additional Resources:

• Will Gucci’s New Creative Configuration Work?
• How Big Can Luxury Brands Get?

Follow The Debrief wherever you listen to podcasts.

View Details

Kim Kardashian’s ‘solution wear’ line was recently valued at $3.2 billion. BoF correspondent Alexandra Mondalek charts the rise of the brand, and details what challenges lie ahead.

Background:

Founded in 2019 by Kim Kardashian and retail veteran Jens Grede, ‘solution wear’ line Skims has taken the fashion industry by storm, disrupting the sleepy shapewear category and fetching a $3.2 billion valuation following its Series B funding round in January 2022. Now, the brand is looking to launch new categories and in new geographies, and is eyeing brick-and-mortar and a potential IPO.

“Investors particularly like to talk about founder-product fit, and this really felt like a business that accomplished that,” said BoF’s Alexandra Mondalek.

Key Insights:

• Skims has seen non-stop momentum since its launch. Going forward, the brand will have to find a way to keep up with lofty expectations based on its early performance. As Grede told BoF in March, “[Skims] doesn’t have the luxury of failing.”
• A big challenge Skims has faced is managing unrelenting demand, especially amid the global supply chain crisis. Core items are often out of stock on the brand’s site — a huge problem for getting and keeping customers, and a reason for the business to take on funding, raising a $240 million round in January.
• A hallmark of Skims’ success has been its marketing approach. From its simple, sexy imagery — a recent campaign featured a number of former Victoria’s Secret models — to the way it has tapped influencers and Kardashian’s powerful network, the brand has focused on brand-building rather than performance marketing.

Additional Resources:

• Skims Plots Its Next Moves: ‘We Don’t Have the Luxury of Failing’: Skims recently raised funding at a $3.2 billion valuation. Kim Kardashian and Jens Grede, in an exclusive interview with BoF, explain how the ‘solution wear’ empire plans to prove it’s more than a pandemic fad. First up: swimwear.
• The BoF Podcast | Jens Grede on Building Skims, Frame and the Future of Fashion: The multitasking entrepreneur joins BoF founder and chief executive Imran Amed to discuss the personal and professional journey that led him to co-create the category-disrupting brand Skims with Kim Kardashian.
• Building a DTC Challenger Brand | Download the Case Study: Fashion entrepreneurs need a new playbook to launch, scale and differentiate their companies, as regulations and rising costs mean performance marketing can no longer serve the critical role it once did for DTC brands.

Follow The Debrief wherever you listen to podcasts.

View Details

BoF’s Daniel-Yaw Miller unpacks why — and how — sports stars including Russell Westbrook and Megan Rapinoe are running their own labels, with full financial and creative control.

Background:

Athletes have long been part of the fashion conversation. In the past, they’ve capitalised on their influence by inking brand endorsements with the likes of Nike and Adidas. Now, stars like the NBA’s Russell Westbrook, soccer player Megan Rapinoe and runner Allyson Felix are taking it a step further and launching their own labels in pursuit of more financial and creative control.

“A fashion brand can provide a revenue stream that will long outlast the playing career of an athlete,” said Daniel-Yaw Miller. “Athlete-run brands give their founders freedom they could not experience in a typical endorsement deal.”

Key Insights:

• Tennis champion Rene Lacoste’s namesake label is one of the earliest examples of an athlete starting a brand. One of the latest is NBA star Russel Westbrook’s Honor the Gift, which just showed its Spring 2023 collection at Paris Fashion Week.
• Founding a brand gives athletes more control over creative direction, finances and their future; whereas endorsement deals often mean athletes have little say, are restricted in what they can wear and will expire upon their retirement.
• Many athlete-founded brands are imbued with a sense of purpose. After leaving Nike, track star Allyson Felix founded footwear and apparel label Saysh — which just closed an $8 million funding round led by Gap’s investment fund — with a nod to her advocacy for maternity rights baked in, allowing mothers and pregnant women to trade in shoes as their foot sizes change.
• Though many athletes, including Westbrook and Felix, are pushing out brands toward the end of their playing and running careers, younger players are starting their careers with the mindset that they will eventually run fully-fledged businesses like Honour the Gift or Saysh.

Additional resources:

• How Athletes Went From Selling Merch to Building Fashion Brands: High-profile athletes used to make money by inking licensing deals that churn out jerseys and shorts bearing their names. Today, sports stars like Russell Westbrook and Megan Rapinoe are running their own labels, with full financial and creative control.
• How NBA Star Russell Westbrook Is Changing How Men’s Fashion Works: Once mocked for his garish outfits and lenseless eyeglasses, the Oklahoma City point guard is designing clothes for Barneys and updating the way Nike markets to men.
• Why Luxury Brands Want in on Football: Despite the rocky history between fashion and football, luxury brands from Moncler to Dior are looking to benefit from the cultural power and global audience of the world’s most popular sport.

Follow The Debrief wherever you listen to podcasts.

View Details

After a pandemic pivot to e-commerce, many brands are back to working with third-party retailers, this time, with better terms.

Background:

The wholesale model, while offering exposure and some upfront revenue, did not always have the best terms for vendors. Department store bankruptcies, pandemic-induced store closures and the boom in online shopping pushed brands further towards their direct-to-consumer and e-commerce businesses to drive revenue.

But that’s beginning to change. As shoppers return to stores, brands are seeing value in ramping up their partnerships with multi-brand retailers — this time on better terms. “What I'm hearing across the board from both brands and retailers is that this vendor-retailer relationship is more collaborative than ever,” said BoF retail correspondent Cathaleen Chen.

Key Insights:

• There are multiple factors pushing brands back to wholesale. Among them, the growth of e-commerce, which has slowed after spiking in 2020, and the growing consumer appetite for curated, in-person shopping experiences that allow them to stumble upon new designers. “That discovery is still so important, and now [shoppers are] relying on a cool third-party retailer to sort of facilitate that discovery,” said Chen.
• “Wholesale is very American,” noted Chen, making it an attractive vehicle for international labels looking to enter the lucrative US market.
• Brands are having more of a say over how their products are marketed through retailers, like sharing campaign assets or designing shop-in-shop setups.
• Both parties are also increasingly open to exploring other models like concession, consignment — more typical to European department stores — and drop-shipping, where the brands themselves are responsible for fulfilling orders made through retailer’s websites.
• Brands are returning to wholesale, but not at the expense of their direct-to-consumer and retail offerings. “I think we're at a point where everybody has a more well-rounded business so that if things do go bad again in whichever channel, they can be agile and adapt very quickly,” said Chen.

Additional resources: How to Take a Brand From Local to Global | BoF

Searching for the Next Barneys

Inside Neiman Marcus' Post-Bankruptcy Playbook

Follow The Debrief wherever you listen to podcasts.

View Details

BoF correspondents Chavie Lieber and Daniel-Yaw Miller discuss why fashion brands are making products for sports like pickleball, padel, rugby, boxing and skiing.

Background:

Two decades ago, Lululemon built its brand around yoga — then considered counter culture. Today, it’s a $6 billion behemoth that makes products for everything from running to swimming and tennis, becoming a model for upstarts like Gymshark and Nobull hoping to filch market share from giants like Nike and Adidas. Now, as sports like pickleball, padel and skiing are gaining traction, there’s yet another opportunity for start-ups to disrupt the activewear market.

“If you go niche and focus on a very specific customer base with a very specific niche following, that might be a better way to crack activewear as opposed to selling everything for the masses — then you’re going head to head with Lululemon and Nike,” said BoF correspondent Chavie Lieber.

Key Insights:

• Instead of going after the activewear space in general, brands are serving underrepresented groups or making noise with differentiated products and price points.
• A few brands, like Gymshark and District Vision have succeeded by identifying strong communities and putting themselves at the centre of them.
• The activewear market represents a massive opportunity for brands: global sportswear is expected to grow to $395 billion by 2025, at an annual rate of 8 to 10 percent, according to McKinsey.
• Brands are tapping into the desire to look good while playing sports like pickleball, rugby and boxing. They are poised to benefit from and buzz surrounding events like the 2028 Olympics and 2031 and 2033 Rugby World Cup, which will be held in the US.
• Skiwear exploded last winter: Matchesfashion’s sales of men’s ski were up 30 percent, while Farfetch stocked 190 percent more skiwear this year. Luxury brands, specifically, are capitalising on the trend by selling statement pieces like goggles or branded skis.

Additional resources:

• The Hunt for Activewear’s Next Big Category
• Activewear’s Biggest Disruptors
• The Race to Develop the Best Sports Bra

Follow The Debrief wherever you listen to podcasts.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

The vice president of fashion and shopping partnerships at Meta and BoF technology correspondent Marc Bain join Lauren Sherman to discuss the company’s new marketplace — which sells digital items from Thom Browne, Balenciaga and Prada — and the future of fashion on the platform.

Background:

Social-media company Meta has launched a virtual clothing store, and Balenciaga, Prada and Thom Browne are the first major designers to create looks fit for avatars in Mark Zuckerberg’s metaverse.The designs, available for use on Instagram, Facebook and Messenger, include a Balenciaga motorcycle suit, Prada shorts and one of Thom Browne’s signature grey suits. The move marks Meta’s formal entry into the virtual high-fashion business after Zuckerberg declared his ambitions to build the metaverse in late 2021.

“As a fashion person, it took me a little while to grasp exactly what [Zuckerberg’s vision for the metaverse] meant … People want as many ways as possible to express themselves via their avatars in the metaverse,” said Eva Chen, Meta’s vice president of fashion and shopping partnerships.

Key Insights:

• Meta’s virtual goods represent an opportunity for consumers who may not be able to afford physical items from the labels, to own a piece of the iconic brands.
• Chen said the designers already are masters of creating their own immersive worlds — whether through shows or clothes — so it wasn’t hard to get them interested in the experience. Translating real-world texture and detail to virtual items, however, was a challenge.
• Right now, the metaverse doesn’t represent a huge revenue stream for fashion companies. But, being a first name to the nascent space has a branding advantage.
• Soon, there could be outfits in virtual marketplaces that reflect different moods and scenarios. Further down the line, Chen says, the metaverse will be a place of limitless expression.
• Eventually, when brands are able to make virtual items into NFTs, they’ll be able to create true ownership and scarcity, which could create the same dynamics of exclusivity and hype that drive fashion today.

Additional Resources:

• Balenciaga, Prada and Thom Browne Will Be the First Brands on Meta’s Virtual Fashion Store
• Facebook’s Vision for Fashion in the Metaverse

Follow The Debrief wherever you listen to podcasts.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

BoF’s workplace and talent correspondent Sheena Butler-Young explains why managers in the fashion and beauty industries are struggling to balance their youngest employees’ expectations against the needs of their businesses.

Background:

The youth-obsessed fashion and beauty industries can’t get enough of Gen-Z talent: they believe they need to recruit more entry-level employees in order to maintain relevance and attract new customers. But the cohort is entering the workforce with big expectations — not only around salary, but remote working, too — that many companies feel unprepared to meet.

“Gen-Z is entering the workforce amid a labour shortage… So that’s real leverage behind the demands they’re making,” explained Sheena Butler Young, BoF’s workplace and talent correspondent.

Key Insights:

• Gen-Z is the latest in a long line of generations accused of impatience entering the workforce.
• A key difference between Gen-Z and its Millennial predecessors is that the job market currently favours job-seekers rather than employers — so their demands are more likely to be met.
• Fashion is finding demands surrounding remote work particularly hard to deal with given the collaborative nature of most jobs.
• Brands shouldn’t get caught up in stereotypes about young talent, but find ways to actually understand job-seekers’ desires.
• Often, the generation that hates being sold to and just wants transparency, honesty and open lines of communication about career progression.

Additional Resources:

• What Will It Take to Make Gen-Z Happy at Work?
• What Fashion’s Class of 2022 Expects from Employers
• Solving Retail’s Labour Shortage

Follow The Debrief wherever you listen to podcasts.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

BoF’s luxury editor Robert Williams offers insight into the surprising news that the mega-label plans to open stores dedicated to serving top customers.

Background:

As traffic to stores soars, Chanel’s chief financial officer Philippe Blondiaux said the brand plans to open dedicated boutiques for top-spending clients starting in key Asian cities. It's a strategy that emphasises the importance of big-spenders to the in-demand French luxury brand’s future amid whispers of an impending recession — but one that risks alienating first time and occasional shoppers who are still dropping upwards of $10,000 for bags.

“Brands like Chanel, they’ve lived through lots of cycles of boom and bust in the economy… When there’s an economic crisis, they need to be ready to have a real focus on repeat business,” said BoF’s luxury editor Robert Williams.

Key Insights:

• Chanel sells many items in-store only, and limits locations to the most luxurious places in the world’s most luxury cities — operating just around 250 stores compared with Louis Vuitton’s over 400 doors.
• Chanel is not the first brand to open special stores for private clients; Brunello Cucinelli deployed a similar concept last December. Other brands like Zegna have dedicated spaces in-store for special items.
• In 2021, the company’s profits have tripled and revenue jumped 50 percent year over year.
• The brand’s growth in fashion, watches and jewellery last year was driven by its decision to raise prices and a flood of new clients and first-time buyers to luxury.
• In addition to focusing on its physical footprint, Chanel is pushing its beauty business, which has been historically driven by department stores and beauty retailers like Sephora and Marionnaud, toward majority direct-to-consumer.

Additional Resources:

• Chanel to Open Private Stores for Top Clients as Sales Soar 50%
• How Luxury Brands Court the 1 Percent

Follow The Debrief wherever you listen to podcasts.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

Brands including Stella McCartney, Balenciaga and Hermès are making products from mushroom-based material. BoF’s chief sustainability correspondent Sarah Kent details the forces pushing next-gen fabrics like mycelium leather forward — and whether the much-hyped sustainability solution has a future in fashion.

Background:

After years of experimentation and development, handbags, shoes and coats made of mycelium leather — created from the roots of mushrooms — are hitting the shelves from names like Stella McCartney, Balenciaga and Hermès. It’s a test of whether mycelium leather will make it in the mainstream. Made by start-ups like Bolt Threads and MycoWorks, mycelium is promising for fashion as brands seek out non-plastic, non-animal-based, less-energy-intensive leather alternatives and consumers demand more environmentally friendly products. But taking an idea from the lab to the store floor involves a lot of trial and error.

“Innovation takes time. I think the fashion world isn’t used to having to wait. We’re all about instant gratification,” said BoF’s chief sustainability correspondent Sarah Kent.

Key Insights:

• “Mushroom leather” is actually a misnomer. The fabric is made from mycelium, which is the web structure that forms the roots of mushrooms underground.
• Though the space is gaining momentum as brands bring products to market and start-ups attract investment, most items are still limited-edition or very expensive. To gain mainstream traction, companies need to scale up and prices need to go down. Much depends on how brands’ first experiments perform.
• A large swath of companies, including LVMH and Kering, see value in testing mycelium as consumers become more interested in looking after their social and environmental impacts at the same time innovations mature.
• If all goes well, the market for alternative materials could be worth $2.2 billion by 2026.

Additional Resources:

• Would You Buy a Mushroom Handbag? For the first time, brands including Stella McCartney, Balenciaga and Hermès are bringing products made of mushroom-based materials to market, an early test for whether the next-generation fabrics could one day hit the mainstream.
• Fashion’s Race for New Materials — Download the Case Study: Brands are pursuing a raft of initiatives to adopt recycled textiles, regeneratively farmed cotton and mushroom-based leather, but giving fashion’s major materials a sustainability makeover still requires billions of dollars worth of investments and deeper, longer-term commitments to scale.
• Luxury’s Latest Battleground: Material Science: Armed with extensive patent portfolios, Bolt Threads, Modern Meadow, MycoWorks, Natural Fiber Welding and others are targeting luxury brands with alternative materials.

Follow The Debrief wherever you listen to podcasts.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

After years of analyst anticipation that the leg-squeezing silhouette would soon go out of style, market research firm NPD Group found sales for the skinny jeans fell behind straight leg jeans in 2021. Skinny jeans are far from dead though — still accounting for 30 percent of sales. Retailers have already felt the effects of the shift: Pacsun pulled the style from its stores because no one was buying it. “It really just speaks to the changing of the times and how styles are evolving within fashion,” said BoF correspondent Chavie Leiber.

Key Insights:

• Skinny jeans are no longer the most popular denim silhouette, according to data from NPD Group. But, that doesn’t mean no one is buying them.
• As consumers come out of the pandemic, they don’t just want comfort. Shoppers are either skewing toward raw denim with no stretch or athleisure and leggings — but jegging and stretch denim styles occupying the in-between have started to fall to the wayside.
• The world is in the midst of a “denim Renaissance,” says Marie Pearson, senior vice president of denim at Madewell, who added she’s never seen so many different types of fits and shapes selling.

Additional Resources:

• The Style That Finally Dethroned Skinny Jeans
• Why Skinny Jeans Will Never Die
• Fashion Drives New Denim Momentum

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

BoF’s Chavie Lieber dives into the elaborate and secretive way luxury brands court their high-spending clients with trips to exotic locales and entry to exclusive events.

Background:

In the midst of a post-Covid luxury boom, brands are going the extra mile to lavish top spenders — known as very important clients, or VICs. To court and keep VICs, who often account for the majority of their sales, names like Givenchy, Balenciaga, Alexander McQueen and Chopard fly clients out to ritzy charity galas and film festivals, organise exclusive runway shows and extended stays in five-star hotels and even grant access to designers and executives.

“It's really about access to a designer, keeping them in the inner rings of the fashion world, so they feel seen and appreciated,” said BoF correspondent Chavie Lieber. “And then, obviously it leads back to more sales.”

This week on The Debrief, BoF’s Chavie Lieber takes Lauren Sherman inside the cloistered world of luxury clienteling.

Key Insights:

• VICs, who can range from being very private to Insta-influencer status, are the engine powering luxury. Luxury e-commerce platform MyTheresa said 3 percent of its customers account for 30 percent of its business.
• In response to consumer appetite in the wake of Covid, brands have upped the ante on experiences for VICs and potential new big spenders.
• Much focus has been on the US, where spending in tertiary cities like Palm Beach and Austin — rather than New York and Los Angeles — is redirecting luxury’s attention.
• In the midst of economic turbulence, VICs are becoming even more important to brands, as entry level consumers hold off on spending-up.

Additional Resources:

• How Luxury Brands Court the 1 Percent
• The Crypto Wealthy Are Luxury’s New Big Spenders
• The Two Hottest Cities in America

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

In a sea of unsubstantiated claims about sustainability, BoF’s Sarah Kent explains why it's so hard to measure impact, and what sort of regulation could be coming for fashion.

Background:

Concern about the environmental impact of clothing has swelled in the past few years. So too, has the practice of greenwashing. Right now, fashion marketing is flooded with eco-conscious messaging as brands dub their products “sustainable” without doing the groundwork to back up declarations. Consumers and regulatory parties are starting to demand more.

“What we're seeing is companies wanting to talk more about this, consumers wanting to know more about this, and regulators really sitting up,” said chief sustainability correspondent Sarah Kent. “It's this perfect storm where something that has been an issue that needed to be addressed for a long time is coming to a head.”

Key Insights:

• With little oversight outside voluntary inter-industry initiatives and no regulation, a sustainable marketing free-for-all has swept over fashion.
• European policymakers looking to crackdown on greenwashing are currently considering legislation about how impact across various environmental areas can be measured.
• Several snags have inhibited any real progress on measuring sustainability, including bad data, tangled methodologies, and the presence of complex social factors that go beyond ecological impact.
• Some brands have begun efforts to increase transparency and show consumers information on why their products are more or less sustainable. H&M has started to give items nutrition-style labels that tell buyers things like what level its materials rank on a scale of better alternatives. Allbirds attributes carbon calorie counts to its products, so consumers understand associated emissions.

Additional resources:

• Green or Greenwashing: Who Gets to Decide?: European efforts to introduce standardised rules governing how brands backup environmental claims are fuelling a heated debate that stands to create winners and losers.
• The Sustainability Regulations That Could Reshape Fashion: Governments in Europe and the US are discussing regulations and policy proposals that could help steer the sector in a more sustainable direction.
• Fashion's Greenwashing Problem Begins with Bad Data: Fashion is doubling down on ambitious promises to clean up its environmental impact, but bad and misleading data are complicating efforts to build a more sustainable industry.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

BoF’s Tamison O’Connor explains how the fashion industry is betting on resortwear as consumers return to their pre-pandemic lifestyles and travel rebounds.

Background:

Every spring, top fashion clients, influencers and insiders are whisked away to lush destinations like Monte Carlo and Capri to indulge in fabulous dinners and cocktail parties — and sneak a peek at brands’ resort collections. Resortwear, which began as a way for luxury houses to cater to wealthy, travelling clients halfway through the main season, now represents so much more as a meaningful driver of sales for retailers.

“It's really attractive for the true luxury customer who sees these items as a fun way to accessorise a holiday, but it's also an entry point for more aspirational and younger consumers,” said luxury correspondent Tamison O’Connor.

Key Insights:

• As consumers start travelling and treating themselves again, luxury is betting big on vacation dressing.
• Resortwear stands apart with more casual designs, lighter fabrics and lower prices. Brands aren’t just using these collections to attract travellers and true luxury consumers, but also to snag wealthy domestic clients and appeal to aspirational buyers.
• Retailers are picking up on opportunities to engage wealthy consumers by building buzz with events and activations surrounding resortwear online and in stores.
• Big brands are opening more stores and pop-up markets in vacation towns.
• Luxury doesn’t expect growth in the segment to slow, even amid global economic turbulence, travel restrictions in China and skyrocketing inflation.

Additional Resources:

• Luxury Seizes the Vacation Dressing Boom
• Loewe's Brand Within a Brand: Is This the New Way to Do Diffusion?
• How Fashion Is Targeting the Travel Rebound

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

BoF’s Marc Bain chats with Lauren Sherman about the 3D creators, game designers and NFT experts bringing fashion into the virtual world. Background:

A new generation of digital creatives are leading fashion brands into virtual worlds by using their technical expertise and creative prowess to craft experiences for games like Fortnite or Roblox, and launch Web3 products like NFTs. Translating real-world brand imagery to virtual spaces, however, requires a unique skill set and grasp of the culture driving different ecosystems.

“There's a community that already exists [in the metaverse]. That's one of the things that brands have to consider …” said Marc Bain, technology correspondent. “Making sure what they're doing works for the community that's already there. You don't want to alienate people.”

Key Insights:

• Creative studios like Emperia and BeyondCreative that specialise in the metaverse have seen an uptick in brand interest.
• Coming up with an interactive, rewarding experience for consumers is really tough. Just one object for a video game can take days of work.
• Training in skills like 3D design is becoming more mainstream: fashion schools are teaching it and designers are making an effort to learn the tools.
• Even amid the hype, as Bain points out in his review of Decentraland’s Metaverse Fashion Week, digital fashion still often looks rudimentary. That’s due to a number of factors, like insufficient consumer technology, which proponents bet will evolve as worlds become more developed.

Additional Resources:

The New Creatives Bringing Fashion Brands Into the Virtual World: Their mix of technical expertise and digital artistry has put 3D creators, game designers and NFT experts in high demand among fashion brands as they venture further into virtual territories.

Can The Metaverse Transform Fashion Business Models?: There may be a better analogy than e-commerce to size up fashion’s metaverse opportunity: will it be more like streaming or 3D movies?

Lessons From Metaverse Fashion Week: Brands such as Tommy Hilfiger and Dolce & Gabbana were among those to test the virtual waters, encountering challenges like low-quality visuals as well as some opportunities.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

BoF’s Lauren Sherman and Matthew Schneier, senior writer at New York Magazine and The Cut, discuss the former star designer’s attempted industry re-entry following a slew of sexual assault allegations.

Background:

Following a flurry of sexual assault allegations — which some thought would wipe him from fashion forever — Alexander Wang is attempting a return to fashion. After dressing celebrities including Rihanna and Julia Fox, and honing his business strategy in China, the designer staged a runway show in Los Angeles historic Chinatown — his first live event in more than three years.

But his plans were thwarted when swarms of consumers rejected the idea of any kind of Alexander Wang comeback following the fashion show — making it clear that his return to fashion is in no way guaranteed. Will consumers buy into a revived Alexander Wang?

“It's up to the public to decide whether they are still interested in what he has to say and whether whatever issues they may have with him personally impact their interest in hearing it,” said Matthew Schneier, senior writer at New York Magazine and The Cut.

Key Insights:

• The rise of the Alexander Wang brand was fueled by Wang’s energetic, party-forward image.
• Even before publicly facing allegations of groping, non-consensual touching and druggings — the relevance of Wang’s brand was beginning to fade amid market shifts including the rise of luxury streetwear labels like Off White.
• It remains unknown how much the scandal affected Wang’s brand. According to a source close to the business, e-commerce sales have almost doubled since 2020.
• As he plots his return to a much-changed industry, Wang will have to lean into the zeitgeist, speak directly to customers and appeal to a wider audience.

Additional Resources:

Alexander Wang Plans a Comeback: After sexual assault allegations tarnished his brand, the designer is back with a booming business in China, an upcoming show in Los Angeles and a broader strategy.

What Will Happen to Alexander Wang?: Five men spoke to BoF about similar encounters with the New York-based designer, who is facing an onslaught of sexual assault allegations, which he vehemently denies. Could a backlash hurt his business?

Inside Alexander Wang’s Los Angeles Show: The designer staged a festival in the centre of the city’s Chinatown.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

Fast fashion upstart Shein set the industry ablaze this month after reports it was seeking to raise $1 billion in funding at a $100 billion valuation, according to Bloomberg. Shein has upended fast fashion by making apparel at jaw-droppingly low price points and gaining market share, attracting major investors. But is it profitable?

“Even if Shein isn’t profitable now, the thesis is that if enough people shop from the brand it would be able to leverage some of its operational costs … It could become a very lucrative business,” said Chen.

Key Insights

• While it is unknown whether Shein is profitable, the retailer drives ultra-high sales volume and razor-thin margins
• Shein is powered by a nimble, AI-driven supply chain, which allows it to produce a plethora of trendy items for an internet-obsessed young fashion audience almost instantaneously.
• The retailer’s app uses casino-like tactics and rewards to draw shoppers in and keep them buying, sharing and engaging.
• Despite its murky manufacturing process and reputation for amplifying rates of consumption, Shein is popular among young consumers — who purport to care about sustainability.

Additional Resources

• The $100 Billion Shein Phenomenon Explained: Reports revealed that Shein is seeking over $1 billion in funding at a $100 billion valuation. BoF breaks down how the fast-fashion disruptor has built a global business that now rivals Zara and H&M.
• How to Compete With Shein: The Chinese fast fashion giant built an empire on unmatched speed-to-market and unbelievably low prices. To compete, others must play a different game.

Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

Want more from The Business of Fashion? Subscribe to our daily newsletter here.

View Details

In this weekly series, BoF’s chief correspondent will go behind the scenes of the $2.5 trillion global fashion industry.

Fashion has the ability to move markets, shake up cultural norms and even transform society. But who — and what — are the forces driving major change?

We’re answering that question on The Debrief, a new weekly podcast series from The Business of Fashion, where we go beyond the industry’s glossy veneer to understand how the fashion business is evolving, from the inside out.

Hosted by BoF’s chief correspondent Lauren Sherman, The Debrief will be your guide into the megalablels, indie upstarts and unforgettable personalities shaping the $2.5 trillion global fashion industry. Each week, Lauren will take you through BoF Professional story — in conversation with our correspondents and industry experts — to unpack the analysis and insights you need to know to navigate an industry undergoing rapid change.

From the rise of direct-to-consumer disruptors, to the rapid consolidation of the luxury industry, to cultural shifts turning beauty upside down.

BoF covers it all.

Make sure to follow wherever you listen to podcasts to never miss an episode.

Join BoF Professional today with an exclusive 25% discount on an annual membership, follow the link here.

Email Lauren with your feedback, ideas and tips at lauren.sherman@businessoffashion.com