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.
Swiss luxury brand Bally is turning to the founder of LA-based streetwear brand Rhude as its new creative director.Rhuigi Villaseñor, who was born in Manila before launching his fashion career in LA, will oversee artistic direction across the brand starting with the Spring/Summer 2023 season, Bally said in a statement.
The move comes as the shoemaker owned by JAB Holdings attempts to relaunch its business after a lengthy sale process to Chinese group Ruyi fell through.
The brand’s triple-stripe sneakers and Scribe dress shoes once dominated American department store floors, with a client base ranging from office workers to rappers like Biz Markle and Ghostface Killah. But a too-abrupt shift away from wholesale in the early 2000s saw its business in that key market collapse.
The choice of Villaseñor, whose Varsity-inflected line of letterman jackets, high-top sneakers, and hoodies is a favorite of basketball stars including LeBron James and Kevin Durant, suggests the brand hopes to reconquer the US market, where luxury sales have grown rapidly since the pandemic.
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After A Deal That Wasn’t, Bally Tries To Get Back on Track
The Swiss shoemaker owned by JAB Holdings is charting a way out of the pandemic after a sale to China’s Ruyi fell through.
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.