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.
Hello BoF Professionals, welcome to our latest members-only briefing: The Week Ahead. Think of it as your "cheat sheet" to what everyone will be talking about on Monday.
THE CHEAT SHEET
LVMH’s First Sales Results Since Creative Shakeup
Louis Vuitton's flagship store on the Champs Élysées, Paris | Source: Unsplash
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Fashion and the Furniture "Halo Effect"
Missoni installation at Salone del Mobile | Source: Courtesy
Fashion houses have been extending their brands into furniture, china and other home goods at least since Ralph Lauren and Fendi in the 1980s. But it's only in the last decade that it's become de rigueur to sell complementary candles, coffee mugs and chaises. Salone del Mobile has become a major marketing platform for luxury fashion brands, as seen in the proliferation of supercharged, experiential installations. The show plays a similar role to art fairs, serving as another opportunity for luxury brands to speak directly to their most important customers. Gucci encapsulates the full evolution of the fashion/furniture connection: the brand only introduced its homewares line, Gucci Decor, in 2017, and this year will open a two-story temporary store in Milan. Are people actually buying $800 candles and $5,500 pineapple-print armchairs? Few if any major luxury houses break out homeware sales (though Hermès said last month that its jewelry and home lines grew a combined 20% in 2018, to €425 million).
The Bottom Line: Home lines primarily exist for the "halo effect" they bring. These lines tend to emphasise craftsmanship and refined taste, which helps brands maintain their luxury sheen even as they rely on sneakers and handbags to drive sales.
Condé Nast's Past and Present Take the Stage
Anna Wintour | Source: Shutterstock
The Bottom Line: Wintour may or may not choose to address the changes at Condé Nast or her future role at the company. Brown, a notoriously shrewd interviewer, would be remiss not to ask.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.
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COMMENT OF THE WEEK
Inside Supreme Italia's new store | Source: Nowre
"I love Supreme but they're being silly. They stole their logo from Barbara Kruger, and they've been hit with so many legal injunctions over the years for other thefts. If you dish it out, you should be able to take it!" -@worrypower, commenting on "Supreme Breaks Silence on 'Criminal' Global Counterfeiting Menace"
SUNDAY READING
Professional Exclusives You May Have Missed:
The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to brian.baskin@businessoffashion.com.
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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.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
Balenciaga’s deputy CEO Laura du Rusquec will replace Andrea Baldo as the Danish brand aims to elevate its image.