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 Lauren Look” will debut with pieces from the Lauren Ralph Lauren brand. After wearing, members can either exchange for new pieces or purchase the items with member discounts. The platform will launch in North America on March 2.
The rental model is becoming a more popular route in retail — brands like Ann Taylor, Urban Outfitters and Vince all have rental programs. Even further growth is expected post-pandemic. A statement from Ralph Lauren said the initiative will be an important tool for the brand to understand more about consumer behaviour based on the success of various collections. Members will be able to “curate the ultimate fashion closet with looks from the most recent Lauren collections,” according to the statement.
The company is launching with the Lauren Ralph Lauren brand, because it is its most “widely distributed and accessible,” said David Lauren, Ralph Lauren’s chief innovation and branding officer. It also said Ralph Lauren is the first luxury retailer to provide a direct-to-consumer rental practice. President and chief executive officer Patrice Louvet stated, “With our timeless aesthetic, we are incredibly well positioned to play across each of these categories.”
The designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
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.