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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After years of build up, from its origins in cultural movements like New York’s hip-hop scene and LA’s skating community to early commercialisation in the early 2000s from brands like Fubu and Stüssy and Japanese designers Nigo and Hiroshi Fujiwara, by the late 2010s, streetwear found itself at the centre of luxury fashion. The breaking point came in 2018, when, after success at his label Off-White, Virgil Abloh was named creative director of Louis Vuitton.
But lately, streetwear institutions like Bape and Stüssy have been losing heat — and luxury brands are pivoting away from streetwear staples like hoodies and sneakers.
“Streetwear brands are more commercial and less connected to the actual street culture where they found their roots,” said BoF editorial associate Daniel-Yaw Miller.
The LVMH watchmaker has ‘reached milestones in brand transformation,’ said chief executive Frédéric Arnault in an exclusive interview with BoF, though estimated revenues remain 20 percent below pre-pandemic levels.
Creative director Giovanna Engelbert has rolled out a colourful, more exuberant aesthetic and enlisted fashion heavy-hitters like Steven Meisel and Pat McGrath as the Austrian crystal-maker seeks to return to profitability by boosting its presence in fine jewellery.
Join us for a special Masterclass, as BoF’s luxury editor Robert Williams, along with a panel of experts, unpack our latest case study Inside Hermès’ Best-in-Class Leather Goods Strategy.
The Cannes film festival is no stranger to high fashion. Entrance-making gowns and jewels are almost mandatory, particularly after the luxury jeweller Chopard redesigned the festival’s highest prize, the Palme d’Or, in 1998.