L-R Altuzarra, Prabul Gurung, Alexander Wang | Source: Style.com

You Can See Spring Coming (NY Times)
“Mr. Wang is a boy disguised as a designer — or maybe it’s the other way around — but whatever the case, he doesn’t want to grow up, and the clothes naturally follow that youthful spirit… Prabal Gurung’s show on Saturday had a pronounced erotic undercurrent that in its blunt use of violet, and the transparent hems of silk print dresses, owed something to the style last season of Riccardo Tisci of Givenchy.”

Fashion week: The ordinary people who stole the show (BBC News)
“Many people might not have heard of Tavi Gevinson, Scott Schuman, Susie Bubble and Bryanboy but they are household names to dedicated followers of fashion. All four are big players in the blogging revolution that has turned the fashion world on its head… But bloggers have been chipping away at the mainstream media as more and more people want to hear about fashion from people who apply it to everyday life.”

Where Fashion Gazes at Itself (NY Times)
“Tumblr, founded four years ago, has reached out to the fashion community in a way no other social networking site has. For the second time, it has brought users to New York Fashion Week as reporters, paying for their trips and giving them access to the shows. Their coverage is being posted on a dedicated channel, tumblr.com/NYFW, made up of posts from 20 bloggers picked by Tumblr’s staff, along with contributions from magazines that have their own Tumblrs.”

Versace sees revenue up in 2012 on H&M and Versus (Forbes)
“Italian top fashion house Versace is expecting higher revenues in 2012 after launching a collection for Swedish retailer Hennes & Mauritz this year and revamping its Versus second line…The company draws most of revenues from its top Versace line, but it launched a “Young Versace” line for kids and bought back its Versus licence this year to boost sales and profitability after starting a deep restructuring in 2009.”

Luxury: the next generation (FT)
“One of the more astonishing success stories of the past century has been the evolution of luxury retailing, from small-scale family firms to an international, multi-billion dollar industry… Yet, as the modern industry struggles to reconcile its artisanal heritage with today’s public offerings and quarterly reports, it is the personal, family connection that bridges the gap.”

Asprey Vintage Regulator Detail | Source: Asprey

Time Warp (WSJ)
“In the past couple of years, more and more guys I talk to have been going vintage when it comes to watches… It’s the inevitable pushback against the highflying hedge-fund era, when the pursuit of luxury meant the quest for highly conspicuous quality and lots of it.”

Luxury stocks bounce back as Japan stabilizes (Globe and Mail)
“Luxury stocks jumped Monday on growing optimism that the devastating Japanese earthquake’s impact on retail sales might not be as severe as initially feared. Shares of high-end clothing retailers and sellers of luxury goods were pummelled last week.”

Alexander Wang on building his fashionable family empire (Telegraph)
“Time passes faster and faster, but with every project I always want to find the next challenge and the next challenge is just as exciting as the previous one. So, like, I push myself and as the company grows and things get bigger and bigger and bigger.”

Peter Marino, Leader of the Pack (WWD)
“In an industry with the collective attention span of a fruit fly, Marino has enjoyed an improbably long run. Known for creating modern retail spaces with varying degrees of glamour, from understated to full-frontal, Marino has become the keeper of brand identities.”

The power of Anna Wintour (Yahoo)
“American Vogue’s editor-in-chief, might still be influencing unsuspecting consumers about what they wear, how they shop and what celebrity or cause is about to be the talk of the town.”

Alexander Wang and gang | Source: 21-7magazine

Women of Wang (New York Magazine)
“He’s built an approximately $25 million business on cool but benign day-into-night clothes for lithe, pragmatic downtown girls who all appear to work in galleries or PR… anything vaguely “creative.” Wang synthesized the street-style-blog-derived notion of looking like a “model off duty,” a louche fantasy of effortlessly sexy living if ever there was one.”

Reed Krakoff Names Valérie Hermann President and CEO (Fashion etc)
“[Valérie Hermann] has been named president and chief executive officer at Reed Krakoff… ‘The possibility of building a new international luxury brand with such tremendous potential comes very rarely,’ she said, ‘and I’m excited about this logical new step in my career.’”

Nordstrom to acquire HauteLook (FT)
“Nordstrom, the upmarket US fashion department store chain, is acquiring HauteLook, one of a new generation of online ‘flash sale’ marketplace sites, in a deal reflecting the merger of digital and ‘bricks and mortar’ stores. The retailer is buying HauteLook… for $180m in stock, with the possibility of the cost rising to $270m.”

CNN Is Back to Covering Fashion (NY Times)
“‘There is room for fashion in our coverage,’ Ms. Cho said… ‘Our viewers crave hard news. They want the headlines about Egypt. But we shouldn’t discount the fact there are other topics we can cover, and I don’t think it makes me any less of a journalist to cover fashion… Designers are thrilled to have CNN looking at them again.’”

Tech Pushes Tradition Into the 21st Century (NY TImes)
“Today the most audacious prints and jacquards are created by computers. Alexander McQueen used the technology for his dramatic ‘Plato’s Atlantis’ show in October 2009, and in his final collection of medieval-inspired jacquards… And during New York Fashion Week, many designers, including Narciso Rodriguez and Joseph Altuzarra, used computerized prints.”

Webisode sneak peek of Thakoon Pre-Fall 2011

NEW YORK, United States — The landscape of fashion communication and commerce continues to change radically, and not just for big brand innovators like Burberry and Louis Vuitton. For a whole generation of formerly “emerging” designers — including Proenza Schouler, Alexander Wang and Thakoon Panichgul — digital innovation is now a central part of their strategies for taking their businesses to the next level.

On Thursday at the Independent Fashion Bloggers conference — part of Social Media Week here in New York — I interviewed Jack McCollough and Lazaro Hernandez of Proenza Schouler, who told a rapt audience of more than 200 fashion bloggers how social media is dramatically changing the way they think about the way they work, the way they sell and the way they communicate with consumers, driving sales and interest in their brand amongst a younger, tech-savvy consumer.

Following a return to form at his A/W 2011 show on Saturday, the ever energetic Alexander Wang is opening his first flagship store here in New York this week, but is also making substantial investments in his online presence, with a revamped website and online store to open later this year. “We see digital as fundamental to our development as a brand, and one of the most powerful ways for us to connect with our customers,” said Dennis Wang, the designer’s brother and CPO.

Big digital moves are also being made by Thakoon Panichgul, the Thai-American designer who became a household name to consumers around the world when Michelle Obama wore a floral print dress he designed on the evening Barack Obama accepted the 2008 Democratic Nomination, and as one of the stars of The September Issue, the popular film chronicling Anna Wintour’s reign as Editor-in-Chief of American Vogue.

Today, Panichgul confidently explains to BoF how the brand new Thakoon.com will bring his brand straight to consumers, bypassing those once uber-powerful magazines with direct communication initiatives like the brand new Thakoon Studio Diary blog, a consolidated social media landing page, and video webisodes showing life behind-the-scenes at Thakoon.

BoF: At our BoF Breakfast Club meeting late last year, you expressed some frustration at the state of digital in fashion. Is that why you are now taking matters into your own hands and leading the charge?

Thakoon: Yes, in part. I want us to speak a little louder and have more control of what we are saying in the digital world, as opposed just having an audience that justs chats about the brand. I think the frustration also came out of a little lack of understanding on my part; but now that I’m really in it and understand it, I’m totally excited by it and enjoy taking part in the community.

BoF: The initiatives planned for Thakoon.com include big investments in content, commerce and community initiatives. How will the new Thakoon.com help drive the business?

Thakoon: Thakoon.com will allow us to communicate our message to a global audience.  For us it is more about branding and letting our customer know who we are as opposed to showcasing product.  We want to allow visitors to make a personal connection with the brand.  There is so much character behind a brand that gets lost in translation when going through the traditional channels of designer to retailer to consumer.  There is value in this character…it is our DNA.  We want to show our customer what we find so special about our brand.

BoF: How will you measure success?

We will measure our success by how well we stimulate and engage our consumer with our content.  Our main objective is to increase brand awareness, so this increased awareness will be a true measure of the success of the initiative.

BoF: You will be revealing a series of video ‘webisodes’ on your new website beginning today showing what happens behind the scenes in your studio. But some people say that having cameras around all the time leads people to feel like they have to ‘perform’. How do you keep things real, knowing that you are constantly being watched?

Thakoon: We are in such rapid growth mode, so there is so much happening all the time that I’m focused on the job in front of me that I don’t even notice the camera. Also the camera is super tiny and the filming is very casual so that makes it easier. We don’t have a boom and a crew with lights so there’s no performance necessary. The way we are documenting is much more intimate, spontaneous.

BoF: Will viewers be able to participate or is this purely a voyeuristic experience?

Thakoon: I think it will evolve naturally, like anything. It’s totally new for us that we will figure out what is interesting and what’s not over time. But I believe in the organic process, doing things as it comes because it has to be genuine. So anything that we do voyeuristically or if we ask for audience participation, all of that will come if it makes sense.

BoF: Your e-commerce site is due to launch in the summer. Is the entire Thakoon product range available to buy online?

Thakoon: For now, we will not make the entire range available. Our philosophy has always been slow and steady. We want to start slowly, offering a selection of what we feel are key pieces.

BoF: The new Thakoon.com is being billed as the “first stage of the company’s new media initiative.” What’s to come?

Thakoon: I think of it as a new platform where we can really play. Obviously it would be exciting to do ad campaigns, but in time. For now, this new platform really gives us so many opportunities, because you have control, you have a voice, you have a great audience. It’s a new way of marketing, which is totally exciting. The sky’s the limit.

Thakoon.com launches today with a livestream of Thakoon’s A/W 2011 show at 6pm EST.

Holly Fulton A/W 09, Swarovski Emerging Talent Award Winner | Source: Dazed

British Fashion Awards 2009 – The Winners (Independent)
“British fashion’s leading lights were rubbing shoulder pads last night at the prestigious annual awards which celebrate home-grown design talent and business success and are voted for by industry leaders, designers and retailers.”

Neiman Marcus sees weak luxury demand (FT)
“Neiman Marcus, the US luxury retailer, said on Wednesday it was seeing “some encouraging signs” of a recovery in parts of its high-end business, while warning that it expected overall demand to remain weak for some time.”

New York cracks down on counterfeit luxury goods (Reuters)
“New York authorities are cracking down on the sale of counterfeit luxury items, shutting down 31 stalls in raids on Tuesday and Wednesday and seizing $1 million of fake bags and watches.”

Burberry confirms London Fashion Week return (Drapers)
“Burberry chief creative officer Christopher Bailey has confirmed that the luxury British brand will stay at London Fashion Week this February.”

Alexander Wang, for Cool Kids, and Now You (NY Times)
“Don’t tell Alexander Wang that blue is the new black or that wedge-heel boots are the season’s must-have. Such airy edicts would most likely make him laugh. “No one talks like that anymore,” said Mr. Wang, whose keen sense of what young women want to wear is matched only by his no-nonsense approach to his, um, métier.”

From the Cartier Collection, Richemont Group | Source: Cartier

Richemont’s Rupert to Take Over as CEO; Profit Slumps (Bloomberg)
“Richemont SA, the world’s largest jewelry maker, said Chairman Johann Rupert will replace Norbert Platt as chief executive officer in April, taking more control amid the deepest recession since the 1930s… Richemont’s first-half profit fell 60 percent.”

In downturn, luxury brand Bally eyes Asia and beyond (Reuters)
“Fresh from a makeover, luxury leather goods and clothing label Bally is out to woo fashionable Asians, but not at the expense of European and American customers who have been harder hit by the downturn.”

Bulgari shines after results, broker targets (Reuters)
“Shares in Italian jeweller Bulgari rise more than 4 percent after the company returns to a net profit in the third quarter and analysts raise their price targets on the stock.”

Lindsay Lohan at Ungaro a disaster: designer (Independent)
“Hollywood bad girl Lindsay Lohan’s first collection as artistic advisor for Emanuel Ungaro was a “disaster”, the founder of the French couture house said here, local press reported.”

Winner of Swiss Textile Award – Alexander Wang: Too cool for school (Independent)
“While some designers look to the past or future, Alexander Wang is as right here, right now as it gets. The American designer is zeitgeisty, he’s of the moment and in fashion-speak he’s also having a moment; quite an extended one to judge by his growing popularity.”

VPL Runway Show, Autumn/Winter 2009

NEW YORK, United States — From the moment that I landed here in New York, the mood has been decidedly sombre. I bumped into a buyer from a major London fashion boutique at the baggage carousel at JFK who told me that “nobody is coming” to New York this time from the major UK fashion magazines. Budgets have been completely slashed.

A few hours later, the CEO of a up-and-coming US fashion business predicted that one third of the young designer businesses that have popped up in New York in recent years will go out of business, especially if they are financing themselves through bank loans, which are harder and harder to come by in this tight credit environment.

The next day, another CEO complained to me that boutiques like Georgina in Long Island are dropping like flies or trying to cancel orders at the last minute, unable to finance their operations (and pay their bills), creating daily headaches about how to respond. On top of all this, parties have been canceled, shows have been downscaled and goodie bags are few and far between.

Will the fashion industry ever be the same? Well, I think not. And neither, apparently, does Anna Wintour — at least for the time being.

For a couple of years now, a shift has been going on in the way that consumers buy and this has now been dramatically accelerated by the economic crisis, which seems to get worse and worse by the day. Even Anna Wintour has spoken out today to the Wall Street Journal, saying “Right now, what’s going to work is something their customer doesn’t have in her closet and that has a real intrinsic sense of value…Because to be honest there’s been too much product, too much copy-catting, and, probably too much consumerism. I think a sense of clarity, a sense leveling off and a sense of reality is needed.”

This is something we have been saying on The Business of Fashion for over a year now. But that fact that Wintour is now joining the chorus of people commenting on the fact that looking “overly flashy, overly glitzy, too Dubai” is just not going to work anymore, says a lot for a woman whose job it’s been to attract advertisers to flog exactly these kinds of products.

So, how are the designers responding to all of this doom and gloom and changing consumer requirements? So far, it seems they are either going dark and moody with a preponderance of black (which never goes out of style) or injections of colour — providing a bit of optimism to counter all of the off-runway chatter about the economic meltdown.

At Ohne Titel, Camilla Staerk and Alexander Wang, where Sarah Jessica Parker and Top Shop boss Phillip Green were spotted taking in Wang’s cool rock chick vibe which had buyers cooing, black looks dominated the runway.

At VPL, models traipsed out in layers of yellow and blue, past a provocative photo installation which seemed emblematic of the ‘fake’ beauty of the boomtimes, but the requisite black was also there, just in case. Colours were also prominent at today’s strong showing from Preen, where a series of textured black looks were followed by vibrant shades of yellow, and then, eye-catching cut out dresses in a kaleidoscope of colours.

More to come from New York as the week progresses. I’m expecting more black, more colour and more commentary from industry insiders grappling with the state of the fashion business today.