NAIROBI, Kenya – The way things are looking, 2009 is going to be a very tough year indeed. And, with all the froth and gloss in the fashion business over of the past few years, it will not be surprising to see many fashion companies fail, especially those that have been able to coast on the excesses of easy credit, copy designs from others with impunity, and take advantage of benign conditions that have enabled even the most mediocre to succeed.

But, the silver lining of this economic pain is that we will have to make do with less. We will have to be more resourceful than ever. And, as a result, creativity, innovation and entrepreneurship will flourish, as the best amongst us hatch exciting new ideas, develop new business models, and create the most special products and designs that generate genuine excitement.

This is my one wish for the fashion business in 2009. … Continue Reading

A toast to the New Year

New Year’s Resolutions for the Luxury Market (US News & World Report)
With the luxury market “receiving a beating this year,”the US News & World Report lists strategies for the industry to “resuscitate itself and land firmly on its feet.”

Anthropologie Engages Shoppers With Craft Workshops (WWD)
Anthropologie, the U.S. specialty store chain, holds a series of events to “teach women how to get more out of their existing wardrobes.”

Designer Kids’ Wear a Growing Market (WWD)
Up market children’s wear is a burgeoning fashion category expecting bullish year-on-year growth.

Nordstrom, Kohl’s — Most “Buzzworthy” Retailers in 2008 (WSJ)
“If shoppers could vote, Nordstrom and Kohl’s would be the likely winners of a popularity contest among retailers,” reports The Wall Street Journal.

 
Italian Luxury Brands See Potential in Brazil (WWD)
With its growing GDP and rising number of affluent people, Brazil is an attractive market for luxury brands.

Bill Blass’s New Owner Plans to Revive Couture Line (WSJ)
Peacock International Holdings LLC, the new owner of Bill Blass plans to revive the line “within nine to 12 monthw.”

Parent Company, a Retailer, Files for Bankruptcy (NY Times)
“A rash of retailing bankruptcies is expected in the new year, but as the clock winds down on one of the weakest holiday shopping seasons in decades, the fallout has already begun.”

French fashion designer Ted Lapidus dies at 79 (AP)
Ted Lapidus, the legendary French designer who favored chic, unisex looks, died at a hospital in Cannes.

Wal-Mart, courtesy of Ravi Patel

Retail Winners and Losers This Holiday Season (Seeking Alpha)
“Wal-Mart is the only real retail winner during the 2008 holiday shopping season, which is presaging more retail bankruptcies in the year ahead,” reports Seeking Alpha.

A long swan song for the Blass House (IHT)
It was the beginning of the end when Bill Blass sold his eponymous label in 1999.

Veggies invading the skin care market (IHT)
The supermarket produce section is the new source of ingredients for beauty companies.

Chanel to cut 200 jobs as the rich tighten their belts (The Telegraph)
As the wealthy tighten their belts, Chanel is expected to cut 200 jobs in France.

LONDON, United Kingdom - As we wind down our second year here on The Business of Fashion, I thought it would be interesting take a look back at our most popular articles from the last 12 months in what was quite the eventful year, not only for the Luxury industry, but for the economy as a whole.

With more than 200 posts over the course of 2008, we had much to sort through and have chosen these posts based on the highest number of page views. This resulted in a wide cross-section of articles, from posts that are part of ongoing series like Fashion 2.0, Luxury Outlook and CEO Talk, to others from our travels to Japan and conversations with industry experts.

The drumroll please…

… Continue Reading

Anna E Alex, Jewellery designers, Italy

NAIROBI, Kenya - The best thing about Christmas in the fashion business is that all of the creativity that is usually focused on clothes and campaigns is temporarily fixated on the festive season. In the beginning of an annual tradition here on the BoF, we are delighted to share a selection of some of the most creative Christmas cards and holiday greetings that we have received from around the world.

And, to keep you occupied between dinners and decorating, we will continue posting from time to time over the break, including a 2008 Year in Review.

From all of us at BoF, happy holidays to everyone.

… Continue Reading

Photo courtesy of the New York Times.

Retailers Get Holiday Reality Check (WWD)
Despite efforts to lure customers during the holidays, “the traditional late surge of shopping is nonexistent because of the deepening recession, which is likely to make this season the worst in memory,” reports WWD.

High street braced for Christmas sales carnage (Times UK)
Insolvency expert Begbies Traynor reports that in the UK, “15 national retail chains are predicted to go bust before the middle of January.”

‘Lipstick effect’ in full swing, economists say (The Telegraph)
“Economists believe that during hard times people forego extravagant purchases like cars, holidays and kitchens and instead spend their money on small luxuries like make-up,” reports The Telegraph.

Lutz & Patmos on Essential Recession Protection (WSJ)
Lutz & Patmos, a New York based  cashmere line, reveals how they’re coping with canceled orders.

Affluent cut spending, which is bad news for all (Forbes)
Even when the economy recovers, conspicuous consumption may no longer be in style.

MIA launches a fashion range (NME)
MIA, has launched a clothing line called Extended Merch based on album covers.

Plastic Wrapped: Shoppers Back Away From Credit (WWD)
“The consumer credit bubble that helped Americans fill their closets over a prolonged buying spree and propelled unprecedented store openings is finally deflating” reports WWD. 

The Bare Necessities: Marketing Luxury Goods in a Bad Economy  (WSJ)
Luxury companies are adopting different strategies in selling their goods amid a tough economy. 

Fashion photographs remain attractive (FT)
“Fashion remains the collecting phenomenon of the photographic market in the last two decades,” says the FT.

New Zealand turning possum pest into luxury business (AFP)
Possum fir blended with merino wool is a lucrative business opportunity in New Zealand.

Priya Kishore, a beacon for Bombay's new creative elite, courtesy of Bombay Electric

NEW DELHI, India – When Priya Kishore and Bombay Electric hit Mumbai a few years ago, Mumbaikars didn’t know what was coming. No sooner had Kishore arrived than she became a beacon for Bombay’s new creative elite – one with a rightful place on the world stage.

A friend while she lived in London, Priya always had this wonderful creative streak, dressed in quirky clothes and popping colours. No wonder Mumbai has taken to her so well – she shares her love for colour with many of the denizens of India’s most populous city.

Of course, all hasn’t been rosy of late. With a terrorist siege that lasted well over three day, Indians have been in the streets, exercising their rights, in this, the largest democracy in the world.

But life goes on. Priya just opened Pocket Electric, India’s first pop-up store in New Delhi. Could she be testing the grounds for a Delhi invasion? We reached her there to find out more in our latest CEO Talk, a BoF Exclusive. … Continue Reading

Bill Blass, photo courtesy of Bill Blass.

Bill Blass Couture to Close (WSJ)
Once the go-to house for American socialites and Hollywood elite, Bill Blass Couture will close.

Nike picks ups its pace  (Just-style)
Strong performance in international markets has helped the sportswear giant achieve a 9% profit increase in the second quarter. 

Max Azria: The Show(s) Must Go On (WSJ)
Although the BCBG Max Azria Group has taken a financial hit like so many other fashion companies, the company will still stage three runway shows in New York.  

Chanel Cancels Mobile Art Tour (WWD)
Due to the bad economic climate, Chanel cancels costly traveling Mobile Art exhibition.