The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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Esteban Cortázar first fell in love with fashion as a teenager growing up in Miami. Over the years, his career in fashion has come with lots of ups and downs. After he became one of the youngest designers to ever present at New York Fashion Week he had to shut his label down. He went on to become the creative director of Emanuel Ungaro at just 22 years old, before leaving after he disagreed with the owners’ plans to bring on Lindsay Lohan as a consultant. He relaunched his eponymous fashion house but it closed during Covid. Now, Cortázar is launching ‘Donde Esteban,’ a new brand on his own terms, on his own schedule, celebrating his roots in Colombia, Miami and Ibiza.
“Where we can lack as young designers or as designers doing independent brands is that it’s really like a puzzle,” says Cortazár. “And you have to have all of the pieces in place for it to work. Having an investor is certainly not enough, you really need to have all of the different angles in place, especially today, to be able to sustain a business.”
This week on The BoF Podcast, Cortázar joins me to share his career journey and the lessons he’s learned about building an independent fashion business today.
This week, the gemstone giant said it would exit the fast-growing lab-grown diamond sector to focus on marketing the “unique attributes” of natural stones. Stakes are high after sales plummeted in 2023, and as owner Anglo-American explores a sale or spin-off.
As it prepares to go public, the company is wooing investors as a luxury brand, but it looks more like Dr Martens, in that it’s reliant on a signature shoe style that risks falling out of fashion, argues Andrea Felsted.
Proceeds from an initial public offering in Milan will be used to pay down debt and fund expansion, CEO Silvio Campara said. Permira will also reduce its stake in the Italian maker of pre-distressed sneakers as part of the transaction.
Quira founder Veronica Leoni has been named creative director of the PVH-owned brand’s “Collection” line, which was shuttered in 2018.