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.
On Monday night, as show-goers from around the fashion world took their seats at Daniel Lee’s debut show for Burberry, drinking hot toddies and clutching tartan-covered hot water bottles, expectations ran high. How would the new creative director interpret the return to Britishness, central to CEO Jonathan Akeroyd’s strategy to build the brand into a £4 billion ($5 billion) megabrand?
During his tenure at Bottega Veneta, the designer created a series of It bags — the ubiquitous “Pouch”, the “Jodie” in the brand’s signature intrecciato weave and of course the “Cassette” crossbody that remains popular with men and women alike — so perhaps it’s not surprising that buyers and editors were particularly keen to see if he could bring the same magic to Burberry.
But while there was no shortage of bags on offer, it was the shoes that had insiders really talking afterwards. At Bottega, Lee’s “Puddle” boots and padded “Lido” mules set afire footwear trends that swept across fashion. At Burberry, he seems to have set out to do the same, with shoes making statement after statement, in varied — and often wacky ways.
Models walked the runway in heels embellished with faux fur; there were thigh-high boots in light grey and olive green; chunky-soled oxford shoes; rain boots in multiple colourways; and shearling-trimmed Wallabee-style moccasins. Sneakers, once a favourite for Burberry under Riccardo Tisci, did not feature at all.
As consumers shed their pandemic-era, work-from-home slippers, designer footwear is set for growth, but in an unconventional way. High-income luxury shoppers in the US, UK and China told BoF Insights in a recent survey that dress shoes remain a staple, but now they want footwear that is not only statement-making with fancy embellishment, but also comfortable.
For Burberry, like countless other brands, footwear is a category targeted for growth, with plans under way at the British house to more than double its footwear business over the next few years.
Growing footwear and accessories is part of the standard playbook for luxury brands’ strategies. At luxury brands like Chloe, Prada, Saint Laurent and Bottega Veneta, footwear accounts for around 20 percent of sales, according to BoF Insights data.
Explore all the statement shoes from the Burberry Autumn/Winter 2023 runway show.
The former Bottega Veneta designer’s first collection is London Fashion Week’s hottest ticket. Ahead of the show, BoF breaks down what’s at stake for the British megabrand.
As incumbents like Adidas and Nike grapple with a cooling market, niche players and newcomers have an opportunity to flourish.
But his celebration of tradition isn’t all that it seems.
The recent banking drama, starting with Silicon Valley Bank earlier in the month and spreading to Credit Suisse Group AG last week, has roiled markets, sparking fears of further contagion.
His redefinition of contemporary portraiture is just one facet of the young photographer’s stunning body of work, writes Tim Blanks.
Traditional auction houses like Christie’s, Sotheby’s and Philips — known for selling Warhols, Picassos and antiques — are using Birkins and Jordans to cultivate their next generation of collectors.
With the UK no longer offering tax breaks to international shoppers, customers are instead flocking to Paris and Milan.