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
Kering Acquisition Chatter Ratchets Up
Kering depends heavily on Gucci for sales and profits | Source: Shutterstock
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For Brands at Coachella, the Real Audience Is at Home
YSL Beauty's "lip station" at Coachella | Source: Instagram/@yslbeauty
The Bottom Line: Instagram's introduction of an in-app shopping feature will accelerate the tilt toward influencer marketing, as it raises the potential to turn a mention in a trending hashtag into real money.
Allbirds Jumps Wool-Sneaker-Clad Feet First Into China
Allbirds shoes | Source: Instagram/@allbirds
In a few short years, Allbirds has emerged as one of the stars of the current crop of digital fashion brands. Much like the similarly buzzy beauty brand Glossier, Allbirds relies on its own stores and distribution infrastructure rather than wholesalers, a slower but potentially more rewarding growth strategy. That the brand chose China for its first stores outside the US is a sign of how the country's retail market has matured. Allbirds had plenty of potential partners eager to help it set up shop, and a thriving e-commerce sector that's already home to dozens of Western brands. There are challenges as well, from the potential for cultural missteps to counterfeiters, a serious threat for Allbirds, which relies on a few simple silhouettes for the bulk of sales and has had to fend off imitators in the US.
The Bottom Line: Allbirds saw China as a promising market in part because so many Chinese tourists were buying the shoes while abroad. With Chinese consumers spending more on fashion at home, the start-up, following the lead of luxury brands, is wise to open stores where its customers live, rather than continuing to rely on the tourist trade.
Fanny Bourdette-Donon, international PR and special projects manager for Dior Beauty | Source: Courtesy
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COMMENT OF THE WEEK
"Social media is amazing but your number of followers is not going to help your career" -advice from Fanny Bourdette-Donon, international PR and special projects manager at Dior Beauty.
SUNDAY READING
Professional Exclusives You May Have Missed:
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Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.
Hermès’ elusive sales strategy is at the centre of a new legal challenge for the French luxury giant. BoF breaks down the practices under scrutiny and what the suit could mean for the fashion industry at large.
A sharp drop in the label’s Asia-Pacific sales is the latest sign that Chinese luxury demand is cooling.
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.