Christian Lacroix Couture A/W 09, courtesy of Coutorture

Rethinking the rules at Paris couture shows (FT)
“Should couture go big or small? Subtle or over-the-top? These days, this particular niche of the fashion industry seems as volatile in its identity as the price of oil. When the rest of the world is busy doubting the rationale for your existence, a show is effectively a public argument for your worth. But how to make the case most effectively?”

Halston targets growth with heritage collection (Drapers)
“Luxury brand Halston is launching a lower-priced collection and is targeting European expansion.”

Kate Moss ‘to go into business with Sir Philip Green and Simon Cowell’ (Telegraph)
“Kate Moss is poised to go into business with Sir Philip Green and Simon Cowell, creating a billion pound global empire bringing fashion and entertainment together, it has been claimed.”

Critter-Friendly Grows Up (WSJ)
It used to be that synthetic shoes looked fake and cheaply made. But now, a growing number of manufacturers are launching stylish shoes marketed as vegan and animal-friendly for women who don’t want any animal products in their footwear.

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

Yesterday at Phillip Lim I heard a videographer complaining "There’s no one here, and whenever someone does show up, they bring them out at the last minute so I can’t shoot them."

Many fashion brands may have been built on the dreams created by out-of-this world haute couture collections, but today, for many brands, this desire is built on the image of celebrity, which can arguably reach more people than the Haute Couture shows ever will. Celebrity is the new Haute Couture. Or, better said, celebrity now plays the dream-weaving and marketing role that Haute Couture has played in the past.

However, in a week when the front rows were supposed to be dripping with celebrities, the paparazzi at New York’s fashion shows were left wanting. Yes, pop star Rihanna made several appearances, as did Angie Harmon, but it seemed the biggest A-list stars had given New York Fashion Week a wide berth.

Until yesterday.

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This week’s Economist ominously warns of “The Trouble with Private Equity” at a time when many in the fashion world are wondering how the infusion of private capital will impact their industry. In the last month alone, La Perla, Samsonite and Valentino have all been snapped up by private equity funds. Just today, The Sunday Times broke the news that Prada has also been in talks with private investors. (Not surprisingly, Prada has denied these reports, but it is not hard to see why this would be a natural option for Patrizio Bertelli, especially given several failed attempts at taking Prada public.)

The recent investment exuberance around fashion brands is a dramatic departure from the stance that many professional investors took even just a few years ago. Back then, they said there was too much “fashion” risk and that without predictable and stable revenue streams, their highly-leveraged (heavy on debt, light on equity) investment strategies were untenable. Now, with more and more money fighting for fewer investment opportunities, it seems much of this wisdom has been thrown out the window. 

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Merrill Lynch and Cap Gemini issued the 2007 edition of their annual World Wealth Report last week and the Financial Times and other media took notice, remarking on the dramatic growth of high-net worth individuals and the risky investment strategies that have helped make the world’s rich even richer (subscription required). And then, today’s WWD reported on the dramatic rise in Haute Couture sales experienced by houses from Dior to Chanel to Givenchy. Was Haute Couture’s death knell premature?

Conventional wisdom says that the Haute Couture lines of famous Parisian fashion houses are more like publicity machines and creative R&D playgrounds. For the price of  a collection of  hand-made, intricately designed dresses, the maisons of Paris get millions of dollars worth of media coverage that helps build the mystique and exclusiveness of their brands. In this way, couture is the single most important method for communicating the individual persona of a luxury fashion brand.

… Continue Reading