26 February, 2013
“On Thursday, Alexander Wang will face his baptism by fire. America’s Wonderkind, whose streetwise-meets-couture aesthetic has made him a fashion star in New York at age 29, is bringing his Asian background, his Californian school years and his New York fashion energy to the storied house of Balenciaga.”
“When Ferruccio Ferragamo, scion of the shoemaking dynasty, runs through a list of those who helped make Salvatore Ferragamo one of the most successful initial public offerings of the luxury sector, one of the first people he name checks is neither a family member nor a local artisan. It’s his private banker.”
“Brunello Cucinelli, founder of the namesake maker of $4,530 suede jackets, forecast ‘modest double-digit’ revenue growth in 2013 amid strong demand from the wealthiest shoppers.”
“Shopping for fashion has always been a social activity: We seek others’ approval, we value word of mouth, sometimes we even copy our friends’ style. Apply that to social networking, as have a new crop of Web sites and apps as well as a handful of fashion designers, and the potential for product discovery — and sales — becomes vast, at least among digital natives, the young people who have been born into a world of mainstream digital technology.”
“Portuguese-born Neves hasn’t always been a fashionista. Originally an economics student, Neves started a management software company in 1994 when he was 19 years-old… The idea for Farfetch.com came during Paris Fashion Week 2007, when Neves first realised that whilst most boutiques were struggling for business, online retailers were thriving.”
“Wealthy Chinese are buying more luxury — but not at home. A report from the Beijing-based World Luxury Association found that luxury spending in China last month fell to its lowest level in five years.”
“Last week, men’s-wear aficionados congregated in Las Vegas for the latest iteration of the Magic/Project trade shows, a seasonal summit where brands can connect directly with editors, buyers, and press. While there, we spoke to the man in charge, Tom Florio, about the changes he and his company are implementing…”
