The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
CUPERTINO, United States — Yesterday, the fashion industry was buzzing with the news that Paul Deneve, chief executive of Yves Saint Laurent, was leaving the label for a "new career opportunity in the high-tech industry" in California's Silicon Valley.
Now, it appears that the former fashion executive is set to join Apple. “We’re thrilled to welcome Paul Deneve to Apple,” the company said, yesterday, in a statement. “He’ll be working on special projects as a vice president reporting directly to Tim Cook.”
Critically, it appears that Deneve, who spent time at Courrèges, Nina Ricci and Lanvin before his tenure at Yves Saint Laurent, will not be running Apple's retail store operation, a position that has remained open since the departure of John Browett, who lasted less than a year after replacing the company's first head of retail, Ron Johnson.
So what exactly will Deneve be doing for Apple?
Apple is famous for having successfully applied the rules of luxury fashion to the marketing of its popular iPod, iPhone and iPad devices. And it's perfectly conceivable that Deneve, who was a sales and marketing manager at Apple Europe from 1990 to 1997, is set to focus on marketing.
But there's a more intriguing possibility.
In May, Apple chief executive Tim Cook revealed that the company would release “several more game changers” like the iPod, iPhone and iPad, hinting that wearable devices — personal accessories with embedded sensors, displays and other digital technology such as Nike’s FuelBand, Google’s Internet-connected eyewear and Apple’s rumoured iWatch — could be among them. “It’s ripe for us all getting excited about. I think there will be tons of companies playing in this,” he said. “I think wearables is incredibly interesting, it could be a profound area.”
According to a report issued by Credit Suisse, the "wearables" market is set to explode, reaching $30 billion to $50 billion over the next three to five years. Indeed, the bank went so far as to call them "a mega trend" that has hit "an inflection point in market adoption" and will have "a significant and pervasive impact on the economy."
Who better to advise Apple on the design and marketing of wearable technology than a former Apple employee with 12 years of experience running luxury fashion brands?
Stay tuned.
Read more about the emerging wearable technology market:
From customer loyalty types to its pillars of personalisation, SAP Emarsys customer engagement provides more than 1,500 companies with personalised marketing campaigns via AI-powered analytics, including Puma, Aldo and Reformation. BoF learns more.
Before fashion businesses can put artificial intelligence to work or target the right shoppers online, they need good data and a deep understanding of who their customers are and what they want. This case study offers a guide for brands that want to truly know their customer, allowing them to make smarter decisions that serve shoppers and drive results.
The US House of Representatives approved a bill that could ultimately lead to a ban of the app, but its path forward remains far from certain.
BoF welcomed business leaders, technologists and creative innovators to share their insights on how the fashion industry can navigate new frontiers in AI, shifts in digital culture and advancements in immersive technologies. Watch on-demand now.