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.
Supreme’s collection of looks featuring archival prints from Italian luxury brand Emilio Pucci is set to be released this week, the streetwear giant said.
The spring drop, which confirmed recent reports of an impending collaboration on streetwear blogs, will be sold by Supreme in stores and online, while Pucci will only sell the collection via e-commerce.
The move comes as LVMH-owned Pucci tries to relaunch with a new creative direction and a clearer focus on resort wear and selling in vacation destinations. The brand, which hasn’t had a creative director since 2017, has lined up a series of partnerships with outside designers to generate buzz, as well as hiring a new in-house team.
After collaborations with small designers like Koché and Tomo Koizumi, the tie-up with Supreme will see the Florence-based label test its strategy with a major brand.
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Supreme’s large and obsessive base of fans, who are often willing to stand in line for hours or pay steep markups for limited-edition items on the secondary market, have made it the most sought-after brand for collaborations, especially following the runaway success of its one-off collection with Louis Vuitton in 2017.
Supreme is currently trying to maintain its exclusive image and sway over streetwear fans while adding new stores and growing sales. North Face-owner VF Corporation bought Supreme last year for $2.1 billion.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.