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.
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Created by BoF’s journalists and editors, in conjunction with our wider network of leading fashion creatives, thought-leaders, and innovators, Masterclasses are in-depth webinars with supporting resources, designed to deliver key learning outcomes on critical industry topics.
A palpable shift is transforming the designer shoe landscape. Consumers worldwide, returning to special events post-Covid, increasingly want bold and embellished statement shoes. Yet many don’t want to relinquish the comfort they enjoyed in their pandemic-era footwear, when the sales of shoes like clogs, mules and slippers boomed. Shoe brands are taking note of the twin desires for novelty and comfort as they seek greater market share in a category that is outpacing pre-pandemic growth rates.
In this Masterclass, BoF’s director of research and analysis, Diana Lee, and associate director, Rawan Maki, are joined by Giorgio Sarné, chief executive of Stuart Weitzman, and Rachel Makar, director of accessories at StockX to discuss the report from BoF Insights, “The New Statement Shoe: Reimagining Designer Footwear.”
During that conversation, the panellists discussed the impact high-net-worth individuals in the US, UK and China have on the designer shoe market and how labels can communicate with these consumers.
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“To be successful, one must stay focused on house codes and the DNA that makes you unique,” said Sarné. “Of course, we want to acquire new customers, but we have to do everything we can to amplify our strengths and keep everyone coming back.”
Read the latest BoF Insights report to get BoF’s perspective on designer shoes, covering shifts in the competitive landscape, product innovation and what high-net-worth individuals in particular are looking for when buying designer shoes.
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.
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.