Matthew Williamson for H&M, courtesy of H&M

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, directed by Oliver Dahan and starring the ever-lovely Marion Cotillard,” featuring artistic shots of stockings, Lady Dior handbags, clothes by John Galliano, the Eiffel Tower, and gangsters. To whet our appetites, Dior has released a 30 second trailer. (see video here)

Esprit says to open more stores, meet target (The Guardian)
“Esprit Holdings, the world’s No.6 fashion brand, said on Thursday it will continue to open new stores and is confident of meeting its target of adding 110 outlets in the fiscal year ending in June.”

Richard Prince Wraps Hong Kong Museum For Vuitton (WWD)
“The installation, which takes its theme from Prince’s ‘After Dark’ series, heralds a significant exhibition of paintings, photographs and video installations collectively called ‘Louis Vuitton: A Passion for Creation’ that will be displayed inside the Museum of Art from May 22 to August 9 as part of Hong Kong’s annual French May Arts Festival.”

De La Renta to Open Stores in the Gulf Region (WWD)
“Not about to be mired down by the U.S. economy, Oscar de la Renta Ltd. is heading to the Arabian Gulf region to increase international sales.” (Subscription required)

Alex Bolen, CEO, Oscar de la Renta

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 Renta show in New York. It was a surprise because I hadn’t requested a ticket and I didn’t know anybody at the company. After the show, I met Alex for the first time and learned that he reads The Business of Fashion daily newsletter every morning on his Blackberry, while walking his dog. Invitation explained.

While this was a huge compliment, I am not telling you this to boast. Rather, it demonstrates that Alex is one of those rare executives in fashion who is literally switched on to new technology and new media. Alex recently answered a few questions to give us the latest news from Oscar de la Renta and explain his bullishness about the Internet in our first CEO Talk for 2009.

BoF: How are things going for Oscar de la Renta in this tough economic environment? What is your overall mood about the prospects of fashion and luxury?

Obviously this is a difficult environment for many industries, especially luxury goods and retail. That said, we feel quietly confident that we are well-positioned, and with the right product, to still be successful in this environment. We are still performing well in our own retail stores, and at wholesale, especially relative to many of our peers. There is a general sense that people will buy fewer items of better quality for the foreseeable future. Customers will demand uniqueness and good value, which is not to say inexpensive. We must deliver luxury – great design, the best fabrications and finest make, all at the appropriate price. We think this all suits our business well.

BoF: Your business is predominantly an American one — with significant Wholesale volume — not the easiest place to be right now. When last we spoke, you were contemplating a European retail push to build the Oscar de la Renta business internationally. Where do you stand on this now? What about establishing a presence in emerging markets like China and India which are still growing, or Japan, where Oscar de la Renta has no presence?

It’s no secret that some of our US wholesale partners are currently challenged, but our brand has been one of the few that are actually performing on their floors. Our international wholesale growth has been explosive – we have expanded our international doors from five to seventy five in the last six years. We opened our first international freestanding stores in Athens and Madrid this October, and they are both proving successful, considering the climate. We are also scheduled to open in Moscow in 2009, and we feel confident that we have a strong customer base in all of these markets, based on our demand at wholesale. We are still actively considering real estate opportunities in other European capitals, especially London. That said, we are being cautious about signing long-term lease commitments in this climate. My feeling is that there will be closings in key locations; rents should be dropping. The Middle East, China, India, Turkey and Japan are all still high priorities, and we are actively developing our relationships with the right partners in these markets.

BoF: Retailers are reporting the it is ready-to-wear and apparel that has been hardest hit. Are you doing anything to offset this in other categories?

Ready-to-wear is our core business, but we have not had the same experience as many other brands for precisely this reason. The Oscar de la Renta brand has always been more about quality than seasonal fashion. Nonetheless, we are still growing our accessories business, and developing a strong statement in shoes and hangbags, and that remains a priority for us.

BoF: You recently launched a new website. What roles will ecommerce and web 2.0 play for Oscar de la Renta?

I am a huge believer in the Internet, both in terms of branding and as a commercial vehicle. We have a lot of original content, with Oscar discussing different aspects of the house, and we will continue to add more. We launched the e-commerce site in September and we are now seeing sales, especially since the holiday season started. We have already had one sale over one hundred thousand dollars through our site. As for the interactivity…I think that this is where the real power of the Internet lies. We are looking at ways to incorporate these elements into the current site.

BoF: Finally, how would you describe the relationship you have with Oscar himself? As he is also your father-in-law, does this help or hinder the relationship at work?

This is Oscar’s company, and his name on the door, and he has been very successful for much longer than I have been around. As he is arguably the best designer in the world, I feel that the best thing that I can do for this company is to keep him very excited and interested in coming into the office. As for the personal relationship, I think that Oscar knows that he can really trust me, and that I would never consider anything not in the best interests of the company or himself.

CEO Talk is an ongoing series of discussions with fashion entrepreneurs and business leaders as they combat the economic downturn. Previous interviews are listed below:

• Natalie Massenet, Chairman and Founder, Net-a-Porter
• Camilla Skovgaard, Shoe designer and Entrepreneur
• Susan Lyne, Chief Executive Officer, Gilt Groupe
• Priya Kishore, Founder and Creative Director, Bombay Electric
• Alex Bolen, Chief Executive Officer, Oscar de la Renta

Oscar de la Renta’s Unabashedly Luxe Pre-Fall Collection (WSJ)
Unlike some designers who are forgoing runway shows to cut costs, Oscar de la Renta staged a “glitzy” pre-fall 2009 show yesterday in New York.

Nautica to close women’s division (CNN Money)
Nautica is to shutter their money losing women’s division.

Doo-Ri to Launch Lower-Priced Line Next Year (WWD)
Doo.Ri is launching a secondary, lower priced, yet to be named line that will take after her signature looks.

Mascara Provides Buzz to The U.S. Makeup Industry (WSJ)
Mascara has seen a rise in demand at a time when sales for the overall makeup industry is on a decline.

Oscar de la Renta Pre-Fall 2009, photo courtesy of Oscar de la Renta.

NEW YORK, United States – New York already has the reputation of being the most commercial of the fashion capitals, but this New York Fashion Week has taken that stereotype to new levels. With economic uncertainty swirling through the city (Lehman Brothers is the latest Wall Street Bank whose future is in question) and footfall at department stores dropping precipitously, the mantra of the week seems to have been ‘Play it Safe!”

Over and over again this week, young designers have told me that the big buyers are sticking to proven silhouettes in basic colours, veering away from the fashion items. While the basics and staples of designer collections will always be important part of the product assortment, it seems to me that precisely because times are so tough, buyers should be making an effort to give consumers a reason to buy. And, that is not accomplished with a series of little black dresses.

To meet the expectations of buyers, many designers here also seemed to play it safe (even more than usual), delivering collections which verged on the boring.

Luckily, there were some more interesting options on offer, to keep consumers and savvy buyers more interested. Natalie Massenet, for example, raved about the jumpsuits at Thakoon and Proenza Schouler. There were also some beautiful and interesting silhouettes at Oscar de la Renta’s stunning show (where J-Lo made a front row appearance), keeping the ladies who lunch on their toes.

Speaking of which, perhaps the most inventive and creative duo in New York is Rodarte, who showed at the Gagosian Gallery in an unconventional seating arrangement, with shoes made of electrical wire and inspired by Star Wars’ C3P0.

As this New York season winds down (there were almost 250 fashion shows to be taken in an ever-expanding New York schedule), I am looking forward to the creative energy of London, where safety is a four-letter word. Then again, London has a long way to go in creating the same kind of energy around emerging fashion businesses as is found in New York. Perhaps a fusion of the two would be ideal.

London Fashion Week begins on Sunday.

Photos courtesy of Style.com and Coutorture.com.

The day before Super Tuesday in the American primary elections might be called Mega Monday at New York Fashion Week, with established heavyweights like Oscar de la Renta showing alongside the city’s new establishment of Proenza Schouler and Peter Som. Young or old, a newfound fancy for fur (and its premium pricepoints) was a common thread, even in these recessionary times.

But, Oscar is no old-fogey. His collection came out to the sweet sounds of Regina Spektor, the young hip pianist. During the show, I had the good fortune to be seated next to the company’s CEO, Alex Bolen, who also happens to be Oscar’s son-in-law. It was a great opportunity to have a pre-show chat. Before I could even ask, Alex told me that Oscar de la Renta has not seen any impact of the economic slowdown on their business at all. Not a blip in sight.

To the contrary, the weak US dollar has opened up new international growth horizons for Oscar de la Renta, which is still largely an American business, albeit with a strong international appeal. Half of the collection (mostly evening dresses, Oscar’s specialty) is produced in the United States, with costs denominated in US dollars, and therefore, Oscar now offers much better value than some of his European rivals like Akris and Valentino. Alex said that they will be going after this opportunity with gusto. To wit, the business has added 25 new international points of sale in recent months and plans are afoot for new stores in Moscow and elsewhere.

The runway show itself was consistent with Oscar’s approach of adopting the season’s biggest trends in a timeless way that is palatable to his loyal clientèle. A rich colour palette of gold, forest green and deep aubergine was mixed with fur, and lots of it, on collars and trims. Trousers were cut with a high-waist and wide legs, while skirts were voluminous in subtle prints.

Pretty clothes aside, the most delightful sight for me was to see Oscar himself peeking out from  behind the backstage door, making last minute adjustments before the girls came out and reacting with delight when a gown or outfit seemed to match with the vision he had in his mind. You could almost hear him thinking, "Just perfect."

Fur was also a big story over at Peter Som, who showed a collection that was a brave departure from the sweet girly aesthetic of seasons past. This time,  she was more quirky, dressed in lace and layered, asymmetric tailoring.

It made me wonder, was the change in direction an effort to keep this collection truly distinct from Peter’s first outing as Creative Director of Bill Blass or simply a natural aesthetic shift that Peter wants his uptown clients to adopt? 

It’s a bit of both, Peter told me later on. "Along with the challenges of simultaneously designing two collections I also felt more free to explore who the Peter Som and the Bill Blass girl really are," Peter said. "For Peter Som she has always been feminine, flirty and someone who likes to have fun with her clothes. But this season I really wanted to develop her sense of adventure and ability to take risks. She is less concerned about her hair than she is about having a good time, trying new things and adding her own eccentric twist to her approach to dressing."

And, at the end of the fashion day, Jack McCullough and Lazaro Hernandez of Proenza Schouler lived up to their cool kids reputation and treated the fashion pack to a stunning collection with even more wide-legged trousers and furry sleeves.

While Angie Harmon was cooing over the dresses (at the last minute she was forced to stand right next to me when she was brought out too late to take her front row seat), I was most taken with how Jack and Laz managed to take their tailoring to new heights, with some really beautiful, jackets with elegant layers of fabric in an understated mix of colours. This was definitely one of the week’s highlights, and speaks to the bright future of Proenza Schouler. And oh, the make-up was really cool too.

© 2008 Copyright Imran Amed – The Business of Fashion

Joyous. That’s how Natalie Massenet of Net-a-Porter described Oscar de la Renta’s Spring/Summer 2008 collection to Alex Bolen, the company’s CEO, after today’s show. The setting in an Upper East Side church, the lovely dresses in bright gorgeous hues, and music from a band-cum-gospel choir culminated in a show-stopper from this legendary designer. Roger Federer, Victoria Beckham, Anna Wintour and others were there to soak it all in.

With utterly beautiful dresses targeted squarely at the ladies who lunch crowd and their daughters (many of whom were in the audience), Oscar showed that he operates in a market where you don’t have to change things too much from season to season in order to make your mark. He leaves the sometimes obsessive trend-setting (and following) to younger designers and focuses instead on delivering collections that delight his core customers. The aesthetic ranged from minimalist long lean cut dresses in a single shade of red to beautiful prints and ethnic patterns, giving every lady in the house something to covet, regardless of her preferred style choices.

After the show, Christopher Sherman of Fashion Television asked me what I thought about Posh Spice being invited to sit front and centre with the likes of Graydon Carter of Vanity Fair and Suzy Menkes of the IHT. I told him that while Victoria Beckham’s aesthetic and style (and antics!) might not be a natural fit for Oscar, it is still great for press to have someone so closely followed by the mainstream media to be part of the event. Oscar can afford to do this because he is so absolutely clear about his target market and because he is an established brand. The same might not be true for a brand that is just beginning to find its feet.

It’s also worth saying that I was delighted to meet Mr. Bolen after the show and learn that he is a dedicated reader of the Business of Fashion. That explains the gracious email I received from the Oscar PR team in the summer, inviting me to attend today. It’s great that even respected fashion business people at major houses are taking the time to read what we have to say over here at the BoF.

Oscar de la Renta – Spring/Summer 2008

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