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Pop Quiz | Fendi, Net-a-Porter, Fashion Magazines

How well have you read your BoF this week? Test your knowledge of all of the latest news and analysis from around the world of fashion in our Pop Quiz, which covers Pietro Beccari of Fendi, Net-a-Porter, and more.
Source: Shutterstock
By
  • Devi Vallabhaneni

You can find the correct answer and detailed explanation for each question immediately following the question (simply highlight to read), along with all the answers at the end of the quiz. Good luck!

Question 1: The acronym BLESS embodies the corporate culture of ______.

a. Mod Cloth
b. Net-a-Porter
c. Rent the Runway
d. Lyst

Answer 1: Choice (b) is correct. As shared by Naomi Hewitt of Net-a-Porter, "BLESS stands for Be the Best, Lead not Follow, Exceed Expectations, Smart and Stylish, and Service Starts with You. BLESS articulates the things that are really important to us."

Question 2: Who said: "Complexity is part of the beauty and fascination of luxury. Luxury is complexity; it is richness, it is layers, it is depth"?

a. Brunello Cucinelli CEO
b. Ralph Lauren CEO
c. Li & Fung CEO
d. Fendi CEO

Answer 2: Choice (d) is correct. It was the Fendi CEO, Pietro Beccari, who said, "I think luxury is difficult to summarise in only three words of positioning... Complexity is part of the beauty and fascination of luxury. Luxury is complexity; it is richness, it is layers, it is depth."

Question 3: Approximately what percentage of clothing is purchased online?

a. 3 percent
b. 8 percent
c. 10 percent
d. 14 percent

Answer 3: Choice (c) is correct. According to angel investor and venture capitalist Jay Deng, only 10 percent of clothing is purchased online.

Question 4: Julie de Libran was recently appointed Sonia Rykiel's artistic director. Where did she work previously?

a. Dior and Louis Vuitton
b. Louis Vuitton and Missoni
c. Prada and Missoni
d. Agnona and Cerruti

Answer 4: Choice (a) is correct. Before joining Sonia Rykiel as artistic director, Julie de Libran worked at Louis Vuitton, Prada, Versace, Gianfranco Ferré, and Dior.

Question 5: What is the relationship between the market sizes of fashion and enterprise software?

a. Enterprise software is 5x the market size of fashion.
b. Enterprise software is 10x the market size of fashion.
c. Fashion is 10x the market size of enterprise software.
d. Fashion and enterprise software are roughly equal in market size.

Answer 5: Choice (c) is correct. Fashion's market size is estimated at $1.2 trillion, while enterprise software's market size is estimated at $120 billion. Fashion is, therefore, 10x the market size of enterprise software.

Question 6: Pietro Beccari, CEO of Fendi, says it's time for _______.

a. a reintroduction of the Selleria bag
b. 20 new store openings over the next two years
c. a new customer experience at Fendi flagships
d. a bit of slow luxury

Answer 6: Choice (d) is correct. Pietro Beccari recently stated, "Maybe it's time for a bit of slow luxury. I think it's important that we, after a period of 'bully me,' when everyone wants to produce more, do more, use more, and launch more bags, it's now time to see how we can make these bags become staples, while at the same time evolving them."

Question 7: Who said: "Fashion is all about creating desire, and both advertisers and editors want to seduce the consumer"?

a. American Vogue's European editor-at-large Hamish Bowles
b. Photographer Patrick Demarchelier
c. Fashion historian Valerie Steele
d. Vestoj's founder and editor-in-chief Anja Aronowsky Cronberg

Answer 7: Choice (a) is correct. In the current issue of Vestoj, which focuses on the dynamics of power in the fashion industry, American Vogue's European editor-at-large Hamish Bowles remarks: "Fashion is all about creating desire, and both advertisers and editors want to seduce the consumer; after all, that's our job."

Question 8: Before launching Zeus + Dione, the founders spent one year ______.

a. recruiting a design team from the best fashion schools
b. finding the best craft-makers in Greece
c. meeting with potential investors and stockists
d. creating a product development roadmap in various fashion categories

Answer 8: Choice (b) is correct. Before founding Zeus + Dione, founders Mareva Grabowski and Dimitra Kolotoura read an article about how skilled craftsmanship in Greece was dying due to the financial crisis and decided to embark on a year-long quest, dipping in and out of workshops, finding the finest craft-makers in the country.

Question 9: When evaluating potential clients to represent as part of her multi-label showroom Rainbowwave, Maria Lemos looks for:

a. Timing of a client's growth
b. Personality of the designer
c. Infrastructure of the company
d. All of the above

Answer 9: Choice (d) is correct. "You have to pick them at the right time for growth," says Maria Lemos, founder of Rainbowwave. "You have to be sure that they're in that moment where the collection is ready to take the leap," She also looks carefully at "the personality of the designer and the infrastructure of the company."

Question 10: Over the next five years, what is Ralph Lauren Corporation's expected cash flow from operations?

a. $3 billion
b. $7 billion
c. $10 billion
d. $15 billion

Answer 10: Choice (b) is correct. Ralph Lauren today has never had this much cash before. Specifically, over the next five years, the company should generate nearly $7 billion in cash from operations.

Answer Key: 1. (b) 2. (d) 3. (c) 4. (a) 5. (c) 6. (d) 7. (a) 8. (b) 9. (d) 10. (b)

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