LONDON, United Kingdom — This week, we published an in-depth, three part report on the shifting winds of New York’s retail landscape, chock full of on-the-ground insight and expert commentary on one of the most dynamic retail markets in the world. From the rise and recasting of the Meatpacking District to the resurgence of Soho and the emergence of NoMad, we covered it all.
We also spoke to some of the industry’s top talent spotters and matchmakers. From New York to London to Paris to Bombay to Beijing, these are the women who have spotted and supported some of the world’s top fashion talent. Without their encouragement and advice, we may never have surfaced globally recognised names like Christopher Bailey, Sabyasachi and Qiu Hao.
Another one of our favourite talent spotters is young designer aficionado Susanna Lau, aka Susie Bubble. Indeed, given the volume of young fashion talent that she meets, there may nobody better positioned to surface the emerging designers with the most creative potential than Ms Lau. In her latest column for BoF, Susie writes about the Paris-born, London-based Faustine Steinmetz and her ‘petite maison’ of handmade creations.
As usual, there was no shortage of international reporting from our global correspondents, contributors and partners around the world this week. Our friends at CBN Weekly, a highly respected Chinese business magazine, assert that the real causes of the luxury slowdown taking hold in China go far beyond the new government’s anti-corruption campaign. According to CBN, the decelerating growth can be traced to fundamental shifts in consumer preferences, as well as the on-going pricing gap for luxury goods between Chinese and Western markets.
Perhaps not surprisingly, then, the prospects for luxury in the UK seem to be much brighter, driven in part by the growing importance of tourist flows, especially from China. This week, the Walpole — a non-profit association of prestigious British luxury brands — and Ledbury Research published a new report that predicts the UK’s luxury market will double by 2017, reaching more than £12.2 billion.
There was some very sad news from Italy this week: Ottavio Missoni, patriarch of a clan who are now managing the global fashion business that carries his name, passed away at the age of 92. The last time I saw Mr Missoni was at the IHT Luxury conference in London back in 2010. I was touched by the evident closeness of the Missoni family. Our thoughts are with them at this difficult time.
Speaking of a conference, to all our readers in Australia, I look forward to meeting you next week at the Bespoke luxury conference, hosted by the Australian Financial Review at the Sydney Opera House. It’s shaping up to be a great conversation about contemporary fashion and business.
Have a great weekend everyone.
Imran Amed, Founder and Editor-in-Chief
The Shifting Winds of New York Retail (Intelligence)
Bubble and Speak | Faustine Steinmetz (Opinion)
Ottavio Missoni | 1921-2013 (News & Analysis)
UK Luxury Market Set to Double Over the Next 5 Years (News & Analysis)