Countess Mona von Bismarck | Source: Conde Nast

Today we are honoured to welcome Colin McDowell to our team of contributing editors at The Business of Fashion. In his regular column, we will hear his personal stories, reflections, and insights from over thirty years working in fashion as a designer, educator, critic and commentator.

PARIS, France — In the wake of the couture shows in Paris, I have been thinking about what is wrong with current couture and, indeed, fashion generally at the moment. To begin with, I want to tell you a true story told to me by Diana Vreeland, the doyenne of mid-twentieth century fashion, about the closing of Balenciaga’s fashion house in 1968. Coming without warning, it shocked the fashion world to its core. He did not even think it necessary to tell his devoted staff, many of whom had been with him for over twenty years. His only comment was, ‘It’s a dog’s life’.

Vreeland was staying with Mona Bismarck, one of Balenciaga’s most devoted clients, at her villa on Capri when the news came through. Its effect on her hostess was electric. Mona disappeared to her bedroom where she locked herself away for three days, seeing nobody. When I asked Vreeland what she thought Mona was doing in that time Diana’s reply showed her surprise at such a question. ‘She was GRIEVING, of course’, she said with that instant hyperbole that was a Vreeland trademark.
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Pierre Mallevays of Savigny Partners | Source: Savigny Partners

Today, BoF brings you an exclusive interview with a key adviser to the private family trust which, as announced today, made an investment in Lanvin, one of the hottest fashion brands in the world.

PARIS, France — Over the past few years, under the creative stewardship of industry darling Alber Elbaz, Lanvin has risen to heights that most fashion brands can only dream of, with nearly unanimous positive reviews from buyers and editors and a seemingly insatiable appetite amongst luxury fashion customers for Lanvin’s clothes, accessories and jewelry.

There was only one problem. After having invested significant sums early on, Shaw-Lan Chu-Wang, who purchased Lanvin from L’Oreal in 2001, was not injecting any more cash to grow the business. This left Lanvin’s hyper industry buzz and brand potential underexploited.

Not anymore. Today, in a press release issued by Lanvin (and as reported in WWD), it was announced that Arpège, the brand’s parent company, has received a cash injection for a minority investment representing 12.5 percent of the equity. The investment was made with a “long-term” view, apparently an indication that the investor does not plan to flip the investment for a quick profit. This is a refreshing change from some of the disastrous investments we have seen in fashion brands in recent years.

I spoke with Pierre Mallevays who advised the private family trust on their investment in Lanvin to learn more about the dynamics of the deal and the fashion and luxury market in general. Pierre is a friend and colleague, and one of the leading investment experts in the luxury space, first having worked as Head of M&A for LVMH for over seven years, and now as Managing Partner of London-based Savigny Partners, a boutique M&A advisory firm.

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Karl who?

PARIS, France – We don’t actively engage in the rumour mill here on BoF, but when the whispers involve Karl Lagerfeld, Olivier Theyskens and Alber Elbaz in a Lanvin and Chanel merry-go-round, it seems worthwhile to engage in a bit of Friday afternoon fashion speculation.

Today, Diane Pernet has published a bombshell post outlining this scenario:

“This is not a fact until you officially read it somewhere else but rumour has it that Karl Lagerfeld will not renew his contract at Chanel and that Alber Elbaz will take his place and Olivier Theyskens will take Alber’s place at Lanvin…Nothing is engraved in cement, these are still just rumours you will have to wait and see.”

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Dior Haute Couture by John Galliano, Spring/Summer 2007

PARIS, France — In a fascinating interview with The Taipei Times, Didier Grumbach, President of the Fédération Française de la Couture, du Prêt à Porter des Couturiers et des Créateurs de Mode (sometimes known as the Chambre Syndicale), provides his point of view on the role of haute couture in the fashion business today, encourages young designers to manufacture in China, and welcomes luxury conglomerates like LVMH and PPR as a necessary part of the fashion eco-system.

On Haute Couture, he tells it like it is. “Couture is in fact not an industry, it is a savoir faire, a craft, and is a complement to ready-to-wear,” he tells the Times’ Catherine Shu. “When haute couture was organized and structured the way it was in 1944, there was no ready-to-wear as we know it today. Everything was made for you. Creative ready-to-wear did not exist. Today Chanel and Dior, the most mythical couture houses, are also at the same time among the biggest exporters of ready-to-wear, and without their ready-to-wear lines, their couture lines could not exist.” … Continue Reading

PARIS, France – When I first met Diane Pernet, it was hard to see beyond her iconic look : a towering pompadour, mantilla veil, cateye sunglasses and platform wedges, all in black, complemented by scarlet red lips and a signature scent.  Since then, I have never seen her in anything else.

But, despite her aesthetic constancy, she is one of those rare souls in the fashion business who still manages to surprise at every turn, with witty observations and an unflinching honesty. And, as I have come to know the person behind the veil, as it were, we have bonded over our shared passion for young design talent, debated ideas for fashion collaborations and industry progress, and exchanged dollops of industry gossip.

Diane, of course, is best known for building one of the most influential blogs in the industry, something she has done by focusing on emerging brands and edgy events from around the world, as opposed to the major brands which are covered ad nauseam elsewhere. But recently, she has been talking to me about A Shaded View on Fashion Film, which will launch at the prestigious Jeu de Paume in Paris in September.

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