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.
THE CHEAT SHEET
The Sneaker Market Perks Up
Dior x Nike | Source: Courtesy
The Dior X Air Jordan sneakers have had a tortuous road to release. First teased at the luxury brand's pre-fall show in December, the shoes were originally slated to drop in mid-March. The pandemic put an end to that plan, and marketing $2,200 sneakers would have been inappropriate immediately after anti-racism protests erupted in late May. The delays have probably worked in both brands' favor. A few pairs that have found their way to StockX — perhaps sold by influencers who received the shoes in the original marketing ramp-up — received bids topping $12,000.
The Bottom Line: Drops are a reliable way to generate hype for a brand, but Yeezy's trajectory shows they can have a downside. Consumers trained to expect a constant stream of new product are quick to move on when the flood slows to a trickle.
Hitting Pause on Reopening
Stores reopen in Newport Beach, California | Source: Paul Bersebach / MediaNews Group / Orange County Register via Getty Images
The Bottom Line: Brands have largely woken up to the reality that the coronavirus will be with us for the long haul, and shopping patterns may have changed permanently.
Checking in on Department Stores
Macy's New York flagship store prepares to reopen | Source: David Dee Delgado/Getty Images
Macy's is preparing for leaner times by cutting costs, closing underperforming stores and laying off corporate staff. Luxury retailers are doubling down on services. Saks and Bergdorf Goodman are both offering same-day delivery to the Hamptons and private, by-appointment shopping in stores. And at every price tier, discounts are the norm (though this was often true pre-pandemic as well).
SUNDAY READING
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BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
Aviator Nation’s pricey sweatpants and cashmeres had a cult following before they were swept up in the “dopamine dressing” phenomenon. Now, founder Paige Mycoskie – still the brand’s only shareholder – is ready to see just how big her vision for California surfer cool can get.
Small stores can remain competitive by scaling their private labels, testing new store concepts, and offering brands consumers can’t find on Farfetch or in Selfridges.
Investing in a VIP resale platform is another play from the e-commerce pioneer to win over luxury buyers and sellers.