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 British menswear designer, known for her gender-bending aesthetics and allusions to her West Indian heritage will receive €300,000 ($366,000) and mentorship from Cédric Charbit, chief executive of Balenciaga. Other finalists of the competition were GmbH, Wales Bonner, Area, Rokh, Ludovic de Saint Sernin and Casablanca. Saunders is also a finalist for the LVMH Prize.
“Mentorship from such a key player in the industry plus financial support like this will help me really focus on growing my business and realising my lifelong dream — establishing Bianca Saunders as a global fashion brand,” said Saunders in an email to BoF.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
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.