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 incoming 46th President wore a navy suit and navy overcoat by Ralph Lauren during the ceremony, indicating the revival of American designers in the White House. Vice President Kamala Harris wore a purple ensemble from Christopher John Rogers and the First Lady Jill Biden wore a blue dress and coat designed by Markarian, along with a matching mask. Ella Emhoff, Harris’ stepdaughter, was dressed in Miu Miu and wore a Loeffler Randall headband.
Meanwhile Lady Gaga, who performed the American National Anthem, was dressed in a custom gown by Maison Schiaparelli, while Jennifer Lopez, who sang a medley of This Land Is Your Land and America the Beautiful, wore Chanel. American poet laureate Amanda Gorman recited her work in Prada.
Both Harris and Jill Biden took the opportunity to champion two little-known American designers and chose to wear bright colours despite the somber tone of the ceremony, which took place against a backdrop of political, economic and public health crises bequeathed by the former President.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
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.