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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This year, Balenciaga proved that building hype doesn’t have to come at the expense of timelessness — a common misconception, especially in fashion. Chunky dad sneakers and sweatshirts emblazoned with logos can be sold alongside little black dresses and classic tailoring.
“I often say we redefined luxury,” Cédric Charbit, the brand’s chief executive, said at BoF VOICES. “We became a platform where anything is possible.” Varied activations, from a special episode of “The Simpsons” screened at the end of the brand’s show at Paris Fashion Week to a couture exhibition at the Tank Museum in Shanghai demonstrate the “elasticity” of the brand, a key to its success, said Charbit.
In 2021, the 103-year-old brand continued to shape the discourse, reactivating its legacy in haute couture while forging a new path in digital fashion with a partnership with the gaming platform Fortnite. Looking ahead, Charbit said he sees the metaverse as vital to the future of marketing and commerce as today’s consumers become more “active participants” in the brands they follow, announcing the formation of a new business unit dedicated to virtual fashion.
“Right now the climax of interaction with a luxury brand is that you click like, or comment or buy something,” he said. “I think we can get to a next level.”
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The Kering-owned brand is creating a dedicated business unit to explore opportunities for marketing and commerce in the buzzy “metaverse,” chief executive Cédric Charbit said, speaking at BoF’s annual VOICES gathering.
Demna Gvasalia’s latest alternative to a runway show brought a Paris audience to its feet, reports Tim Blanks.
The collaboration spans virtual and physical clothes, as well as a marketing campaign that will appear on billboards in cities like New York and Tokyo, as well as in Fortnite itself.
New York’s schedule is short on surprises as brands play it safe in an uncertain economy. Plus, what else to watch for this week.
This week, Ssense said it laid off 138 workers, and MatchesFashion received a $73 million cash injection from its shareholder. From more niche players to giants like Farfetch, the pressure remains high for luxury e-tailers.
Former Estée Lauder executive Raffaella Cornaggia has been named CEO of the unit, which will develop beauty for the French group’s brands, including Bottega Veneta, Balenciaga and Alexander McQueen.