BoF compiles the most important professional moves of the week.
The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.
NEW YORK, United States — Designer Oscar de la Renta threw his support behind fashion bad boy John Galliano on Friday, saying the disgraced designer should be given a second chance after he was fired for his anti-Semitic rants in a Parisian cafe two years ago.
Picking a Winner Amid a Field of Bold Theories (NY Times) “There are a number of theories as to why Michelle Obama, who has generally spread her fashion love around to many designers, would select the same one for both of her inaugural gowns. An obvious one is that she likes a Jason Wu dress.” Leon And Lim: Kenzo’s Cool Comeback Kids (The Daily Beast) “The new Kenzo customer continues to evolve under the pair’s
PARIS, France — Couture! This magic word was all but forgotten 30-odd years ago, except in the most exalted and privileged of social circles. Since its high point in the late 1940s and 1950s, couture clients had shrivelled away just as the lifestyles the couturiers once clothed had withered as well. Fashion had taken its lead from the arts, generally, and jumped on the democratic bus called youth and freedom. Even Yves Saint
We Are All Guilty for This Mess (IHT) “The current state of fashion, with designers enticed to houses where they may be rejected, removed and re-embraced, leaves a queasy feeling. The drama that started almost exactly a year ago with the breakdown and departure of John Galliano from Dior has spread across the fashion universe.” Yves Saint Laurent creative head Pilati leaves (Reuters) “French fashion brand Yves
Can China Produce A Luxury Brand? (Forbes) “China is more known as a luxury consumer rather than a producer. And while it is a manufacturing hub for many global labels and retailers, it has yet to produce its own luxury brand in the manner of Hermes or Louis Vuitton. True, it took centuries for Hermes and Louis Vuitton to become what they are today, but these questions begged to be asked: Are there Chinese labels that are
NEW YORK, United States — To tweet, or not to tweet. That has been the question on many fashion business minds over the past year. Not every brand needs a Twitter account, but if a brand does decide to stake out a presence on Twitter, they should do so with a clear plan in mind and a voice that is consistent with the brand, while also opening up a new point of view. Most of all, Twitter should be a tool for engagement with a
Leading fashion brands entice China’s nouveau riche (Guardian) “Thanks to its booming economy, numerous high-profile fashion houses have announced their intention to expand operations on the Chinese mainland… Burberry has confirmed that it will add 66 stores to its current 44 Chinese outlets by 2012.” U.S. luxury brands may slow European growth (Reuters) “European expansion plans for top U.S. luxury
Without the Prints, Can It Still Be a Pucci? (WSJ) “Under the hand of designer Peter Dundas, the six-decade-old fashion house is reinventing itself as an It brand. In the process, it is shifting its emphasis from kaleidoscopic cruisewear to cocktail dresses and sweeping gowns.” Oscar de la Renta continues expansion (Reuters) “‘We continue to offer, and continue to sell, $20,000-plus off-the-rack
H&M’s 8% April Comparable Sales Gain Breaks Trend (WSJ) “Fashion retailer Hennes & Mauritz AB Friday said April sales in comparable stores rose for the first time since July, indicating that it may be recovering from the global trend of consumers reining in spending amid the economic slowdown.” Dior Jumps on the Viral-Video Bandwagon (NYMag.com) “The House of Dior will release a short film on May 20,
NEW YORK, United States – It’s a new year, but the news hasn’t changed all that much for the luxury business. In fact, as the numbers roll in from the holiday season and for the fourth quarter of 2008, many executives’ worst fears are playing out. It’s a good thing the industry has leaders like Alex Bolen around to keep us all optimistic. A few seasons ago, I received an invitation to the Oscar de la