JOURNAL STANDARD: January 2011

Saturday, 29 January 2011

Flexible Men

This intensely attractive editorial in GQ Italia is appropriately titled Flexible Man, despite a wardrobe that speaks otherwise. A smorgasbord of slim-cut suits, smoking jackets, and topcoats speak volumes on constriction when considering the tight tailoring and sharpened shoulders; they are rendered loose, like liquid, however, thanks to the choice of material and attention to fit. And the models' rousing performance of acrobatic-like jumps help, too.

Preppy look returns, replacing understated with louder style

Christina Binkley
Wall Street Journal

Club ties. Lilly Pulitzer. Pants and belts embroidered with little whales or sailboats. Jack Rogers sandals.

Preppy is back in full swing. Not just the understated khakis-and-white-polo kind of preppy. This is a time of loud pink and lime - for men.

The new preppy is much like the style chronicled in 1980s The Official Preppy Handbook, but with twists. Lilly Pulitzer, whose flowered Palm Beach, Fla., shift dresses became famous in the 1960s, now has a collection for men and has broadened her offerings for women and children as well. Ralph Lauren has renewed its famous Polo shirts by enlarging the pony, giving its WASP-y standard an ironic wink. There are new angles - such as pants in horizontal seersucker and corduroy from Cordarounds.com. advertisement

Vineyard Vines now does for men what Lilly Pulitzer has long done for women. It has quickly sold out of this season's colorful patchwork shorts, and another hot seller is four-panel pants in blue, green, pink and yellow - each panel a different color. Launched in 1998, its revenue has risen nearly sixfold over the past three years, and it is now taking its seersucker pants and flowered skorts across the Pacific to the U.K. So very American, the silk ties populated by tiny whales, sailboats or flags are a favorite among politicians; Arnold Schwarzenegger and Bill Clinton are among the adherents.

The last time we were loving golf shirts and pearls this way, we were entering an era that celebrated wealth, on our way to a time when Gordon Gekko was the king of Wall Street and every aspiring corporate raider had a closet filled with Lacoste alligator shirts and Topsider deck shoes. Then, greed was good.

Now we call it "luxury."

This is a period that lusts for symbols of the good life: $3,000 crocodile handbags, $20,000 tourbillon watches, $250 bottles of olive oil, and big charitable donations that assuage the guilt of driving an SUV. The preppy look is the affordable weekend version of all that. It's what the people who run the nation have always worn at their country homes.

Now, as in the 1980s, people who want to suggest they live that old-money lifestyle are wearing it, too. But now the once-understated look is about flamboyant colors and embroidered whales.

"Things got so multicultural around here that preppy waned," says John Murray, co-owner of Murray's Toggery Shop in Nantucket, Mass., which invented the prepster staple Nantucket Red canvas pants and holds a copyright on them. "But now it's back."

Of course, today's preppy look has new elements - more dress styles, more florals. Some people are even mixing and matching preppy with other looks - Indian skirts, $300 jeans.

A book called A Privileged Life: Celebrating WASP Style, was just published by Assouline Publishing. Susanna Salk, the book's author, says she had trouble getting people to participate in the book because many people feared the term WASP would generate controversy. It was thought to suggest narrow-mindedness or White monoculture. But the book hasn't been controversial.

Darling of understated style

Sofia Coppola: Darling of understated style
Sophia Coppola - muse, director, mother and style icon - has followed her friend Marc Jacobs into the Louis Vuitton studio to produce a new range of timeless accessories.

Sofia Coppola, the enigmatic star of one of Hollywood’s most cherished film families, grew up surrounded by epic talents.

Her father Francis Ford Coppola cast the waifish beauty at age two in his renowned film The Godfather Part II (1974) and over the next few years she appeared in four more of her father’s films, including The Outsiders (1983), Rumble Fish (1983), The Cotton Club (1984) and Peggy Sue Got Married (1986).

Despite her illustrious film family connections Coppola took her time developing a career as a director eschewing the limelight in favour of quite dedication. Her first feature film Virgin Suicides was quickly followed by Lost in Translation staring Bill Murray and Scarlett Johansson, which was deemed a cult success and secured her place as one of the hottest young directors, along with her then husband Spike Jonze.

Coppola’s interest soon diverged into fashion when her friend Marc Jacobs cast her as muse for his range. At the hands of contemporary art photographer Juergen Teller Coppola’s disinterested gaze captured the Marc Jacobs aesthetic. Following in his footsteps Coppola has collaborated with Louis Vuitton designing a small range of accessories to fill the gaps in her own classic, quaint wardrobe.

How would you define your style?

That’s hard to say about yourself. I like beautiful things, so I enjoy clothes, but for myself, I like things that are classic and not too loud or flashy.

Do you remember when you first became interested in fashion?

As a young child- I was always interested in my parent’s friends jewellery and accessories…and then as an adolescent, I loved looking at Paris Vogue and The Face.

Who are your fashion heroines?

Tina Chow, Lauren Hutton (had her in mind when we did the Monogram pochette)….Diana Vreelend.

What is your best fashion memory?

Sitting on Yves Saint Laurent’s lap at Dave’s for new years when I was about 12.

How did you first become friends with Marc Jacobs?

I saw pictures of his grunge collection when he was at Perry Ellis, when I was about 19 or 20 I was visiting NY with my mom, and asked if we could go see it. Robert Duffy, Marc’s partner met me and was nice to show me collection and then Marc said hello, and we started talking and got along and had interests in common…I don’t remember after that, but I remember hanging out with him and Anna Sui in NY in the early 90s.

Aside from Marc Jacobs, who are the fashion designers, past or present, whom you most admire?

Yves Saint Laurent

How did your collaboration with Louis Vuitton come about?

I had met some of the people who work there through Marc Jacobs, and the idea of doing something together came after I visited the factory and museum. After seeing all the things they’re making and custom orders, its hard not to imagine what you would want for a custom order for yourself.

Did you have a clear idea of what you wanted to do before you started?

I had an idea of what I was looking for and couldn’t find. I wanted a day bag that could fit everything I wanted, but wasn’t too big or heavy, something chic and discreet. The day bag was based a little on the Keep-all duffle bag- something chic and classic, but not formal, for everyday use.

What were your key considerations in designing the collection? What, for you, makes a great bag and a great pair of shoes?

It was great to be able to make exactly what you want- For a day bag, I wanted something that can fit all of my things I need, but not too big, I wanted something that could go with everything, and was chic but not flashy. For evening, I love to have a small envelope that fits just a phone, lipstick, a key and a credit card. I like leaving all my work things behind. For the shoes, I wanted something chic, but not too dressy..I wanted a 70’s version of a 40’s sandal, that wasn’t too high, so easy to really wear- but looks great on…and you can wear with a lot of things, so when you travel you don’t bring too many shoes.

Which products are your personal favorites?

I like them all, anything I didn’t love we eliminated from the line…but I especially like the navy day bag, and asphalt grey suede day bag…and the black pochette with gold piping with matching shoes- those are the ones I use the most…

What is your favorite item in your wardrobe?

silk pajamas

What piece of clothing could you not do without?

A t-shirt

What item would you never, ever wear?

I don’t like to say never, but I’m pretty sure I’d never wear a velour sweat suit

Do you agree that, as the French say, il faut souffrir pour être belle (you must suffer to look beautiful)?

I don’t, but I do admire these French women who walk around all day in crazy high heels.

Source: Louis Vuitton

Friday, 28 January 2011

Wealthy habits and prefernce| SEAs

Wealthy in Hong Kong, South Korea Most Likely to Buy Flashy Car
By Robert Frank

Now that the wealth-management industry has discovered that Asia has a lot of rich people, a raft of studies have come out probing their customs, habits and preference for flashy cars.

Bloomberg News
A new report from Scorpio Partnership looks at the characteristics of rich people in various countries. Scorpio is careful to call its categories “archetypes,” rather than stereotypes. For the study, Scorpio surveyed 1,800 people with an average net worth of $1.5 million. Among their findings:

South Korea–Despite their high wealth levels, few rich South Koreans had specific wealth goals for the future. Those that did have a wealth goal set it at $5 million. Most South Koreans want flashy cars that convey status.

India–Wealthy Indians value status more than other Asians and are the most likely to want to be seen as leaders and innovators. They also are unique among Asians in their desire to become famous.

Hong Kong–The rich in Hong Kong are similar to South Koreans in their desire for a flashy set of wheels. And they like to be publicly identified with charity.

Singapore–Wealthy Singaporeans are the most worried about unemployment in Asia, and they like to keep a low-profile with their charity.

Indonesia–Rich Indonesians are more discreet, wanting good but not flashy cars and keeping quiet about their charitable giving. They are, however, very confident about their wealth targets, with 98% saying they expect to add to their wealth this year.

Are there are other characteristic that you think set the rich in each Asian country apart?

Horyn and Menkes beg to differ on designer appointments, Vuitton’s boom, Eco-friendly factories, Luxury Titanic?

Christophe Lemaire, new Director of Womens, Hermès Source: Adah

Three Separate Challenges (NY Times)
“With a number of companies now being run by equity-market managers, you can bet your bottom dollar that they would love to get their hands on an experienced design maestro — if more were available.”

A New Pragmatism Behind the Catwalk (IHT)
“A post-recession strategy likely to define luxury brand management for the early 21st century has emerged from a week packed with designer changes at European fashion houses… the era of the star designer… is over.”

Louis Vuitton: Where the boom never ends (Independent)
“‘We have a wider range of product – ready-to-wear, watches, jewellery – than we did 30 or 40 years ago…but the spirit is the same. In each product we have an extraordinary mix of tradition and innovation.’”

Cambodian Factories Seek Eco-Friendly Power Alternatives (IHT)
“The majority of the country’s garment factories — making clothes for brand names in the U.S. and European markets — use firewood to heat old-fashioned boilers that produce hot water for dying fabrics and steam for ironing.”

Are Luxury Brands Just Shuffling Deck Chairs on the Titanic? (Nathan Branch)
“The brand leaders appear to know that something needs to be changed, but as they’re charging forward with their lists of decisions… there’s little to no public attention being paid to the water pouring into the forward compartments below.”

Legacy of Savile Row,Masstige, Polo Profit, China, Reaching Wealth Go Direct

What Does ‘Masstige’ Mean For China? (Jing Daily)
“If masstige collections are offered supplemental to the luxury collections, there is little risk of impacting the luxury spending; instead, masstige opens up a new market segment of middle-class consumers.”

Polo profit beats, revenue outlook raised (Reuters)
“Polo Ralph Lauren Corp reported a higher-than-expected quarterly profit on Wednesday and again raised its full-year sales outlook due to strong demand globally, sending its shares to an all-time high.”

China Looms Large in Luxury Industry’s Vision (NY Times)
“If heritage is the tool fashion houses have turned to in the wake of the global financial crisis, then the actual market the luxury industry sees guaranteeing its future is China… while China booms, the industry is turning back to basics with more mature markets.”

Direct messaging, social media key to reaching wealthy consumers (Luxury Daily)
“Direct messaging such as personal phone calls and social media tactics are particularly effective for targeting consumers with annual incomes higher than $500,000 and should play a role in holiday strategies, according to research.”

Perpetuating the Legacy of Savile Row (NY Times)
“To reread reports of the advent of Richard James on Savile Row in the early 1990s, you would think he was selling jeans and jocks… What he was proposing from his tiny Savile Row shop was a ready-to-wear collection supplemented by special bespoke orders.”

Bottega Veneta

Bottega Veneta Unveils Design Competition (WWD)
“Bottega Veneta has launched a furniture design competition for students at The University of Tokyo. Bottega Veneta creative director Tomas Maier was in town to review the 18 contenders’ initial sketches and outline the project to local journalist.”

Bottega Veneta Invests in Cruise (WSJ)
In a difficult time for luxury retailers, Bottega Veneta is launching a glitzy marketing campaign.

Bottega Veneta Grows Up (WSJ)
“As Bottega pursues its strategy to grow from a niche player into a global brand, it has been conducting a major overhaul to its business, starting from the production line. As part of that, it now decides well before its catwalks what—and how much—to manufacture and send to stores.”

Just Have Less: Bottega Veneta’s Tomas Maier (New Yorker)
“Tomas Maier, the head designer of the Italian fashion label Bottega Veneta, is one of those people who wants to erase every fault in their range of sight.”

A segment to watch

The signature red sole of an $800 Christian Louboutin pump. The trademark intrecciato weave of a $4000 Bottega Veneta bag. The colourful inner lining of a $2500 Paul Smith suit. These are the markers of a movement being described by industry watchers as Discreet Luxury.

Tired of the logo-fixations of the 1990′s and early 2000′s, certain luxury customers, who don’t feel like shouting about their wealth to the world, are shunning logos for clothes and accessories that are unmarked — except for one usually understated detail that announces the item’s provenance and brand to those in the know.

Many of these consumers are in advanced luxury markets like Japan and Western Europe, and have exacting standards for quality, craftsmanship and authenticity. Therefore, also included in this growing segment are clothes about which stories can be told by the wearer — stories about why the garment is special, rare and authentic. This is apparently driving a boom in men’s luxury purchases in particular as it seems men like to tell stories to their buddies about the provenance of their threads.

Earlier this year, Vanity Fair commissioned some market research on the discreet luxury customer, sometimes known as the "cultivated consumer," and found that they have:

disposable income and eclectic interests, a thirst for exclusive knowledge and preference for an authentic experience, social responsibility and the need to surround themselves with a network of experts.

If Bottega Veneta’s financial performance is anything to go by, then this certainly is a segment to watch. Lisa Rachal, Luxury Goods analyst for Redburn Partners, said earlier this year that Bottega Veneta is the "Venetian Jewel" in Gucci Group’s crown, and will become the next 1 billion euro brand within five years.

Discreet Luxury: This is slow fashion

There was quite a bit of interest our recent post Discreet Luxury – A Segment to watch. Stealth wealth consumers want something special and discreet and therefore reject obvious logos, product ubiquity and sameness. Though the category is dominated by thousands of small, independent brands, Bottega Veneta is the one global brand that has been emblematic of how well this can work from a business standpoint.

This video supplements a Wall Street Journal article entitled Inside a Salon that Serves the Logo-Phobic and takes you inside Yuta Powell’s discrete luxury boutique in New York’s Plaza Athénée Hotel (I didn’t know New York had its own Plaza Athenee either!). The store stocks niche luxury brands like Boudicca, Azzaro and Kiton and each product must pass through Ms. Powell’s exacting standards for quality and craftsmanship, honed during a long career at Givenchy.

Ms. Powell says "This is slow fashion; fewer but better clothes."

Milan Fashion Week | Commerce and creativity

While London is often the spark of new ideas and New York is confidently commercial, the Milan shows usually sit somewhere in between. They may not be the pushing the limits of fashion in terms of new ideas, but they specialise in striking the right balance between commerce and creativity.

Many buyers and editors complained of an uncharacteristically inconsistent offering from Milan’s usually focused designers last week. But we think there was a lot to be impressed by in Milan, especially from the some of the heavyweight brands who show there.

Take Burberry, for example. Christopher Bailey is on a clear winning streak, softening his approach this season with the perfect autumnal mood for the urban birds who walked down his catwalk of "optimistic melancholy." (Theurban birds term was cleverly coined by Tim Blanks; Bailey loved it. We think its perfect).

A TIME Magazine article recently pointed out that while Frida Giannini of Gucci hasn’t managed to impress critics, her designs have continued to fuel a healthy sales growth. People seem to have given up on Gucci for new fashion ideas and have focused on the commercial viability of the collection instead. On this measure, the show was generally considered to be a knockout — especially those all important bags.

Another fast-growing Gucci Group brand is Bottega Veneta, where Tomas Maier used the catchphrase When your own initials are enough as the backdrop for his collection. He continues to be a most inspirational designer, whose clothes manage to be both inventive and wearable at the same time. Combine this with luxurious artisanal detailing that evokes the core Bottega Veneta DNA, and you have another winner from Maier.

There was also an emerging powerhouse that had everyone buzzing this week. No less than 4 Vogue editors (and the most important ones at that) graced the front rows at 6267‘s runway show on Tuesday evening. Roberto Rimondi and Tomasso Aquilano’s beautifully made clothes have a true feel for luxury — in both design and fabrication. It’s no wonder that they have the fashion establishment firmly behind them.

Weak week in Milan? We think not. And we haven’t even got to Prada yet. That lace deserves a whole post unto itself.

Brazilians and beachwear, Ethical luxury, Hermès shares jumpsHermès’ resilience, Bally’s e-commerce, Ralph Lauren sales down, LVMH holding steadySales

Brazilians decide beach culture should help capture retail dominance (IHT)
With the launch of a beachwear fashion week in October 2008, Brazilian brands are beginning to find their place in the international swimwear market.

Ethical Luxury: Could the Luxury Industry Be Headed Back to Its Roots? (The Luxe Chronicles)
A return to the values of craftsmanship may define the next era of luxury.

Hermès shows resistance in luxury downturn (The Globe and Mail)
“We have seen a slowdown in sales growth since October but we are still growing,” says Hermès finance director Mireille Maury.

Bally to Launch E-Commerce (WWD)
Bally, the Swiss luxury brand joins in on the e-commerce game. (Subscription required)

Polo Ralph Lauren’s Net Falls 6.6% (WSJ)
Ralph Lauren Q3 earnings fell 6.6%, and plans to cut back on their fiscal outlook this year were reviewed.

Hermes Q3 Sales Rise 4 Percent (WWD)
Though Hermes Q3 sales rose, the French luxury brand sees a tough road ahead

Scent Notes Eau Parfumée au Thé Vert by Bulgari (NY Times)
The New York Times traces the history of Eau Parfumée au Thé Vert, Bulgari’s wildy successful scent.

Hermès 2009

Hermès to open 1st Brazil store this year (Reuters)
“Paris-based Hermès will open its store in the upscale Cidade Jardim shopping mall in Sao Paulo by mid-September, Valor said, citing Guillaume de Seynes, deputy managing director at Hermès and a member of the company’s founding family.”

Hermès 2Q Sales Rise 12%, Keeps ’09 Guidance (WSJ)
“Luxury goods company Hermès International Tuesday stuck to its full-year target of flat revenue after posting a 12 percent rise in second-quarter sales, with demand for its traditional leather handbags and luggage offsetting much lower turnover for fancy tableware and watches.”

Hermès breeds own crocodiles in Australia for luxury handbags (Times)
“Hermès chief executive Patrick Thomas admitted this week his French fashion house has resorted to farming crocodiles in Australia to keep up with the increasing international demand for their world famous crocodile skin handbags, including the popular Birkin design.”

Luxury market faces turbulence: Hermès (Reuters)
“Hermès believes turbulence could hit the global luxury goods industry for the next two years and has put some expansion plans on hold, the French fashion and leather goods group said on Monday.”

Hermès Q1 sales get lift from bags, currencies (Reuters)
“Hermès proved again it was resisting the crisis better than many of its rivals with a 3.2 percent rise in first-quarter sales, helped by exchange rates and resilient demand for its handbags.” Have a look at this video from the CBC’s Fashion File to see the underlying craftsmanship that has served the brand well during the downturn.

Hermès to Open in the Hamptons (WWD)
The French luxury brand will take up temporary residence in a 2,000-square-foot space specialising in beach attire. (Subscription required)

Hermès Net Up 0.8 Percent (WWD)
Hermès post steady sales with marginal profit gain. (Subscription required)

Hermès

New Designer at Hermès (NY Times)
“After seven years, Jean Paul Gaultier is giving up his ready-to-wear duties at Hermès and will be replaced by Christophe Lemaire, who has been designing for Lacoste since 2000. Mr. Gaultier’s move was expected, but the replacement was something of a surprise.”

Hermès reports 1st-quarter sales up 19 percent (Marketwatch)
“Hermès, the French luxury goods maker, reported that first-quarter sales rose 19% to 507.7 million euros. All sectors performed well, with sales growth at the group’s own stores “particularly robust,” up 26% at constant foreign exchange rates, the company said in a Thursday statement.”

Jean-Louis Dumas, Chief of Hermès, Dies at 72 (NY Times)
“Jean-Louis Dumas, who revived the flagging fortunes of Hermès in the late 1970s and in his nearly 30 years as the company’s chief executive transformed it into one of the world’s most successful luxury brands, died Saturday at his home in Paris.”

Louis Vuitton Tops Hermes, Gucci as Most Valuable Luxury Brand (Bloomberg)
“Louis Vuitton, the French fashion brand known for its monogrammed luggage, topped Millward Brown Optimor’s 2010 BrandZ ranking of the most valuable luxury labels for the fifth straight year.”

Hermès takes strategic decision to develop high end jewelry (CPP Luxury)
“French luxury goods firm Hermès has announced that it will be launching a collection of fine jewelry with accessories designer Pierre Hardy. The [collection] was inspired by the shape of a horse’s hoof to keep with the fashion house’s equestrian roots.”

Hermès 2009 Profit Falls as Distributors Trim Inventory (Business Week)
“Hermès International SCA, the French maker of luxury handbags and silk ties, said full-year profit declined as distributors cut inventory.”

What’s Next: Luxury Products (WSJ)
“Pierre-Alexis Dumas embraces innovation. But as the sixth-generation member of his family to lead, in his case, the creative end of the French luxury house Hermès, he must uphold tradition, as well.”

Hermès CEO sees higher taxes hitting luxury (Reuters)
“Governments worldwide will have little choice but to raise taxes on the rich to address ballooning deficits, a development that would harm luxury spending in the coming years, French luxury chain Hermès International chief executive, Patrick Thomas, said.”

Hermès ups its 2009 profit forecast as sales excel (Reuters)
“French luxury group Hermès on Friday raised its own profit expectations for 2009 after posting forecast-beating full-year sales on the back of strong Christmas trading.”

What Hermès’ New Chinese Brand Means for the Luxury Industry (Fashionista)
“Three days before Christmas, the savvy folks over at godly luxury company Hermès quietly announced that they would launch a new brand in China called Shang Xia. The label will incorporate Chinese raw materials and local craftsmanship tailored to the specific desires of the Chinese luxury consumer.”

Asia boosts Hermès luxury sales (AFP)
“Sales in Asia helped boost French luxury group Hermès in the third quarter, the company said on Friday, reporting an overall 10-percent rise in sales to 452 million euros (672 million dollars).”

Luxury goods industry on track for recovery (FT)
“The luxury goods industry will return to growth next year while the decline in 2009 will be less severe than expected thanks to strong sales in Asia, especially China, according to a study published on Monday.”

Hermès Chief Thomas Says China Booming, U.S. Market Positive (Bloomberg)
“Hermès International SCA Chief Executive Officer Patrick Thomas said the French luxury-goods brand’s sales are “booming” in China and elsewhere in Asia, while the U.S. market is ‘slightly positive.’”

Hermès CEO Sees No Light in ‘Tunnel’ This Year on Japan Slump (Bloomberg)
“Hermès International SCA Chief Executive Officer Patrick Thomas said he isn’t optimistic about the next six months because of a delayed economic recovery in Japan, the French luxury-goods maker’s biggest market.”

Hermès profits below expectations (Financial Times)
“French luxury group Hermès on Friday posted first-half profits below market expectations, hit in part by lower revenues from its financial investments and slower growth in certain markets.”

Getting to know Christophe Lemaire, the new Artistic Director of Hermès

Christophe Lemaire Photo: Lydia Gorges
Last week, Christophe Lemaire was named Artistic Director of Hermès for womenswear, replacing longtime incumbent Jean-Paul Gaultier and catching industry observers everywhere by surprise. In this exclusive excerpt from an interview with Lemaire in b magazine given prior to the announcement of his appointment, BoF gets to know the new man at one of France’s most prestigious luxury brands.

PARIS, France — Almost 20 years since starting his own label, the designer Christophe Lemaire is still relatively unknown; embracing a level of anonymity, he says, is key to his brand. Building his experience alongside Christian Lacroix and Jean Patou as well as Yves Saint Laurent and Thierry Mugler, Lemaire launched his own brand in 1991, the success of which brought the designer to melting point — Lemaire admits he was close to a breakdown.

“I was always a bit on the side of the fashion circus,” he says. “When I used to have my own fashion shows at the end of the 90s, now that I look at it, I realise they weren’t really mature enough.” Taking a break from his label in 2003, Lemaire focused on his role as artistic director at Lacoste. Returning in 2007, today he is self-assured, more confident and more defiant than he used to be. “It was a positive crisis because it was like stepping back and asking myself real questions about my motivations. I have come back much clearer in what I want to say.”

“I was never really attracted to the star system and the whole media-obsessed fashion of the 80s. I really think it was something that preserved fashion more than it served it,” he reflects. Fingering his “bible” — his copy of Cheap Chic Update: the 1970s fashion guidebook he discovered after meeting its editor, Carol Troy, at a dinner in late-1980s New York – he confesses his design philosophy is in stark contrast to his beginnings.

“Fashion for me is less of this runway culture, when I am designing, the goal is the person who will wear it. I was always more interested in creating refined and creative, wearable fashion than just images.” Modern, workingwomen from the actor Lauren Hutton to the photographer Ewa Rudling are immortalised on the pages of Cheap Chic Update, dissecting personal style and discussing the importance of a good white T-shirt over fad clothing — central to Lemaire’s sartorial philosophy.

Growing up, the young Lemaire was interested in the quality of life objects could bring and was first attracted by industrial design. “For me, style, fashion and clothes were part of a more global interest in the stuff that surrounds us. Now I have rediscovered why I wanted to make fashion and I’m extremely clear about what I want to do.” L

emaire talks of his clothes in a way that relates them to a kind of costume or uniform – costume to be worn for the theatre of life – it is paramount that his collections work in the everyday. “I can only do 50% of the job,” he smiles. “It’s commonsense that style is very much linked to the person who wears the clothes. I never believed that fashion could be some style that you could buy. I can only try being as precise as possible in the way that I make clothes that will underline a personality.”

“When you have beautiful fabric and you reduce it to the maximum essential design — you can mix it and play with it and then you can tell your own story. I don’t believe the designer can tell you which story you can tell.”

Dal Chodha is the Editor of b Store London’s bi-annual publication, b Magazine and contributes to global trends magazine WeAr. This article is an excerpt from the Spring/Summer 2010 issue of b Magazine. The full interview can be read here.

Hermès

Fashion Ties the Knot (WSJ)
“Fashion’s most matronly accessory is experiencing a rejuvenation. Silk prints have evolved from hunting scenes to tattoo-like images. Scarves have loosened up… They have moved off the neck to substitute for belts, bandanas, bracelets and even a sling for a broken arm.”

Hermès Wins AMF Ruling (Bloomberg)
“Hermès founding family can pool their shares in a holding company without having to bid for the rest of the luxury-goods maker, France’s stock market regulator said, bolstering its defense against LVMH.”

Regulator to weigh Hermès buyout waiver (Reuters)
“France’s stock market regulator will examine Hermès request for a waiver on buying out minority shareholders on Thursday as the luxury goods maker tries to fend off a takeover from rival LVMH, according to a person familiar with the matter.”

Hermès Shares Jump in Paris After LVMH Increases Holding (Bloomberg)
“Hermès International rose as much as 5 percent in Paris trading after larger luxury-goods rival LVMH Moet Hennessy Louis Vuitton SA said it increased its stake in the Birkin bag-maker to more than 20 percent.”

A Luxury Leader Shies From an Unwelcome Suitor (NY Times)
“In the world of luxury brands, Hermès International has cultivated an image of purity… Lately, however, it has been attracting attention less for its expensive silk scarves… and more for the unwelcome approach of [LVMH]the luxury goods giant.”

Richemont’s Focus on Saving Cash Pile Damps Hermès Speculation (Bloomberg)
“Richemont said the world’s largest jewelry maker needs its 1.88 billion-euro ($2.6 billion) cash pile to fund growth of its own brands, damping speculation the owner of Cartier jewelry may buy shares in Hermès.”

Hermès needs to style media defense to unsaddle LVMH (Reuters)
“Winning the media war against luxury giant LVMH which began in earnest this week is likely Hermès’ only realistic chance of shaking off its unwelcome new shareholder.”

Luxury group Hermès tells LVMH to back off (Business Times)
“‘The family has clearly and unanimously said: If you want to be friendly, Mister Arnault, you need to withdraw,’ Mr Puech, a fifth-generation descendant of founder Thierry Hermès, was quoted as saying in the [Le Figaro] newspaper.”

LVMH says will continue to buy Hermès shares (Reuters)
“LVMH said… it planned to buy more Hermès shares and disclosed to French regulators that it built up its 17.1 percent stake in Hermes partly through derivatives, called equity swaps.”

French regulator to examine LVMH swoop on Hermes (Reuters)
“French luxury goods company LVMH’s surprise acquisition of 17.1 percent of rival Hermes at a major discount to recent market levels will be investigated by the local market regulator.”

LVMH `Playing a Waiting Game’ for Hermès Takeover (Bloomberg)
“[LVMH said] it doesn’t intend to launch a tender offer, take control or seek board representation at the maker of Birkin bags after announcing it owns 14.2 percent of Paris-based Hermès, with the option to increase the stake to 17.1 percent.”

Hermès to the rescue of Indian crafts? (Live Mint)
“If a hundred Shang Xia’s bloom, Asia’s fast-evaporating artisanal heritage will not only get a second lease of life, it will be raised to a whole new level. At their core, luxury brands are cultural products, their heritage coded and reinterpreted for contemporary times.”

Hermès launches street style website (MyFashionLife)
“Dedicated solely to its signature square scarves, the new website, called J’aime Mon Carre (I Love My Scarf), takes a street style turn as it shows hip young things working the scarves in ways Hermès would never have dreamed of.”

5 Things We Know About Hèrmes’ New China Brand, Shang Xia (Jing Daily)
“Everything from the design to the materials, manufacture, marketing and management will be local… It is a Chinese brand, developed in China with the Chinese team, based on Chinese craftsmanship and broadly made in China.”

Hermès Raises 2010 Sales Growth, Operating Profit (Bloomberg)
“[Hermès] raised its 2010 revenue forecast after second-quarter sales increased faster than analysts had estimated, on demand in Asia. Full-year revenue may grow as much as 12 percent… Second-quarter sales rose 27 percent.”

Hermès continues to defy gravity

Savigny Luxury Index since Jan 1, 2007, courtesy of Savigny Partners
LONDON, United Kingdom — It’s all been a bit doom and gloom around here for months now, and I’m afraid the latest Savigny Luxury Index (SLI) does not deviate from this theme. Valuation multiples have dropped from a peak of 13x EBITDA (operating profit) in June 2007 to 8.5x EBITDA just before Christmas, effectively wiping billions off of the market capitalisation of luxury stocks.

But there is still some good news for so-called ‘AAA Luxury Brands’ in the throes of a synchronised economic downturn.

In Issue Seven of the Savigny Partners Newsletter, Managing Director Pierre Mallevays notes two seemingly conflicting trends emerging in the luxury goods market. “There has undoubtedly been a general downtrading movement, which is causing all to tighten belts and reduce overall spending. This is happening at all price points, and shows that luxury, as a category, is not immune to the crisis,” he notes.

“However, this has been accompanied by a lateral and uptrading phenomenon through which the luxury goods consumer has refocused towards the AAA blue-chip names: high perceived value, high quality, more durable goods which often – but not necessarily – means higher price points, moving away from the bling towards the timeless.”

So which brands are the best positioned to this value-based shopping trend?

“We expect the likes of Hermès, Patek Philippe, Louis Vuitton and Rolex in the luxury universe to more than hold up sales whilst others will continue to suffer decreases well into the double digits,” says Mallevays.

Indeed, the overall picture of the SLI is decidedly downbeat. Mallevays describes two major waves of de-rating in the luxury business since January 2007. The first wave affected “affordable luxury through either brand positioning (Burberry and Tod’s) or product focus (eyewear sector) and those lacking presence in the emerging markets (Bulgari and Tod’s). Stocks with a strong bias towards the US also took a beating (Coach and Tiffany).”

But it is the second wave late last year which has left the industry in a tailspin. “The affordable luxury category was particularly hard hit again. Burberry lost another 54% in its EV/EBITDA rating. The watch sector also took a serious beating, as we had predicted it would in our last newsletter, Richemont and Swatch showing a decline in their EV/EBITDA multiple rating of 39% and 32% respectively.”

And while even the major luxury groups, with diverse product and geographic coverage, were not spared, there has been a notable exception.

“One stock continues to defy gravity, abnormally so in our eyes. Owing to its super luxury brand positioning and ongoing bid speculation, Hermès’ rating increased by 32% since the peak of the market in early June 2007,” reports Mallevays, as he quips, “could a small float, a peculiar legal structure, rules pertaining to the company monitoring of family-held shares and the retail versus institutional make-up of the shareholder base provide keys to understanding such a situation?”

Copycat Culture | The Shape of Things

BRUSSELS, Belgium — Sometimes, a mere glimpse of a product’s silhouette is enough to tell which designer or fashion house created it: the Chanel No 5 perfume bottle, the toe of a Berluti shoe, the unique shape of the Fendi baguette. Today, there is renewed interest in these kinds of classic products as shape and design have made a return in making a product desirable, especially now when consumers don’t want their products to scream with logos and bling.

As they look for unbranded products that are recognisable for their design, this also raises the question of whether there is adequate legal protection for these more subtle indications of provenance. This will almost certainly reignite a debate for strong design right protection, but it might also mean that the shape of a product is worthy of trademark protection in and of itself.

The fashion industry is currently fighting two battles on the intellectual property front. The first is against counterfeiters exploiting trademarks and logos. The second, more complicated battle is against those not-so-imaginative designers from within the industry who are simply aping the designs of their peers. This second fight is the one that is most harmful to creativity, investment and reputation. The main weapon against knockoffs is design right protection, but this is not an option if the design isn’t new. So, timeless products without obvious trademarks but which are instantly recognisable — think the classic Hermès Kelly bag — are in a sort-of legal limbo.

In the EU, it is in principle possible to protect a (three-dimensional) shape as a trademark. In practice, however, it has proven extremely difficult to convince courts that a shape has a sufficiently “distinctive character” to be registered. For many years, European courts have been of the opinion that consumers are not in the habit of making assumptions about the origin of products based on their shape. They argue that consumers need a sign or word element to make that connection.

Last week, an EU court restated this long-standing position in a case concerning the shape of the Bounty chocolate bar. The court’s view is basically that the shape of a product must be more than a variant of a common shape of the type of product in question. Only then can it fulfill the function of a trademark indicating origin. Assessing wheth

er that is the case should be done from the point of view of “the relevant public”, described as the “average consumers of the products or services in question, who are reasonably well informed and reasonably observant and circumspect.”

Still, a closer look at this general reasoning makes one wonder if we haven’t actually arrived at a point where at least some consumer groups make the connection between a shape and a product’s origin. While the shape of the Bounty bar might not be sufficiently distinctive for a trademark, the case of luxury products is fundamentally different. These are sophisticated products whose design is born of an intellectual process, tells a message

and (if all goes well) transcends generations. What’s more, the very essence of luxury products arguably creates a consumer group that is well above average when it comes to being informed, observant and circumspect about details, other brands and look-alikes.

If luxury consumers are willing to pay for quality in design and shape, shouldn’t it be possible to protect the required and underlying investment and creativity?

Annual Digital IQ Index of Luxury Brands Released

Digital IQ Ranking 2010 Source: LuxuryLab

NEW YORK, United States — Last year BoF reported on the first ever ranking of luxury brands’ digital competence, and today the second ranking, published by New York-based LuxuryLab, was released first to a small number of global media outlets, including BoF.

The adoption of digital media has been explosive. Longtime readers from the very beginnings of BoF may recall our first ever post on Fashion 2.0 back in April 2007 when CEOs, Creative Directors and Managing Directors insisted to me that they would never use such tools as Facebook to engage their fans and customers. How things have changed in three short years!

According to Scott Galloway, founder of Luxury Lab, the “combination of the economic crisis, the emergence of a more digitally native Gen Y consumer, and several brands getting huge ROI — sales and press — due to digital leadership, inspired a massive investment in both human and financial capital in digital in 2010.”

Fashion and leather goods brands dominate the top 10 and have seen the most progress. The 16 fashion and leather goods brands ranked in both 2009 and 2010 increased their Digital IQ by by an average of 24 points. Watches and jewellery companies did not fare as well, on average losing 9 points, with Rolex, Cartier and Chopard falling more than two IQ classes.

Skyrocketing to the very top of the heap of the 72 luxury brands ranked is Coach, which scored “an increase in Digital IQ of 63 points, jumping from the middle of the pack last year to claim the top spot,” this year. Also scoring high were Ralph Lauren, Louis Vuitton, Gucci, Burberry and Dolce & Gabbana, all deemed as ‘Genius’ by the ranking, which assesses brand websites, digital marketing, social media and mobile presence.

Other fashion brands are lagging. Says Galloway, they “are sitting on their hands…hoping this whole ‘internet’ thing will go away.” Ermenegildo Zegna, Bally, Balenciaga, Chloe, Versace and Alexander McQueen are all ranked as ‘Challenged’, while Dunhill, Catherine Malandrino, Ferragamo, Zac Posen, Tods and Manolo Blahnik are ranked as ‘Feeble.’

The Digital IQ index has done an excellent job of drawing more attention to the digital revolution in luxury. I do, however, have a few gripes with the methodology and some of the rankings. Is Chanel, which has absolutely no e-commerce, really digitally ‘Gifted’? Even if they do have over 1 million fans on Facebook, e-commerce should form an essential part of every luxury brand’s business model.

That said, Facebook is certainly an essential part of a genius digital media strategy. According to the survey, 90 percent of luxury brands in the survey are present on Facebook, up from 79 percent in 2009, and the percentage of traffic luxury brands are receiving from Facebook has more than doubled in last 12 months, growing from 3.4 percent to 7.1 percent. But just having a Facebook presence isn’t enough. Now, it is how these brands use their Facebook presence that will really count the most. For example, the report concludes that brands which use social sharing tools — for instance, the Facebook “like” feature on their site — registered annual traffic growth of 42 percent vs. 18 percent for brands that did not.

On the other hand, I don’t think every brand needs to have a Twitter account or YouTube page. The Twitter presence of luxury fashion brands has jumped from 17 to 48 percent, with an overall growth of Twitter followers of almost 1,500 percent. YouTube presence has also skyrocketed from 26 to 55 percent. However, despite these increases, the report says that traffic from Twitter and YouTube has actually decreased over the past 12 months.

Should brands really be penalised if they have made the strategic decision to hold off on certain social media tools like Twitter? The truly genius brands are those that are developing a digital media strategy that is embedded in their business strategy, and taking on specific digital initiatives that help them to get there.

Which brands do you think are digital geniuses?

Jeffrey Kapelman, Chief Executive Officer, Hilldun Corporation

NEW YORK, United States — Even in the best of times, it’s tough for fashion start-ups to access the capital they need to sustain their growth and expansion. But today, it’s downright brutal.

The usual private investment sources like angel investors and early-stage venture capital, which were limited to begin with, have dried up. What’s more, fashion boutiques can be notoriously slow at paying their invoices and sometimes, they don’t pay at all, making cash flow management tricky and unpredictable.

In a sinking economy, this kind of behaviour will only get worse, as fashion boutiques hoard cash and in some cases, go out of business. So while we have seen independent fashion businesses flourish in recent years, today they have an even higher risk of failure due to their small scale and limited access to capital.

This is where factoring companies like Hilldun Corporation can help. I caught up with CEO Jeffrey Kapelman to get his take on the economy and what independent designers can do to survive the downturn.
BoF: First things first. What exactly is factoring and why might emerging designers be in need of such services?

Factoring is actually one of my least favourite words, because it lacks a definition.

Boiled down to its essence, though, factoring (i) is the approval (and guarantee) by the factor of the credit of a designer’s customer (typically a store) and (ii) may include an advance by the factor against the future payment of the invoice by the store. Factors act as a designer’s collection department, as well as helping their cash flow by loaning funds, where appropriate.

This can be of enormous help to emerging (and established) designers because the factor typically has the knowledge of the creditworthiness of stores and the strength to collect on behalf of the designer.

In addition, factors also act a source of financing. For appropriate clients, Hilldun can advance against invoices after (and in some cases, before) shipment, thereby saving the designer from having to wait for payment before having the funds to produce subsequent orders.

BoF: So, how do you decide which brands and designers to work with? I can’t imagine that every brand is right for Hilldun or that Hilldun is right for every brand.

We evaluate our prospective clients by quality of product and production, experience, quality of customer-base and size of business. Since the charges for factoring are relatively small, we seek clients with the capacity to get and produce orders and the potential to grow. We pride ourselves on spending the time to give our clients the benefit of our experience.

Also very important to the fit between a factor and a designer is the area of the market that each specialises in. For example, though we are active in all areas of the market, Hilldun typically works with high-end designers. As a result, we work with many designers who are selling to the same store base. Having the top designers who are sought after by these stores is important to us (and our clients) because this gives us enormous strength in collecting from these stores.

A store can live without any one designer, but in Hilldun’s case, representing 30 or 40 designers selling to the same stores means that these stores cannot afford to jeopardise their source of product, and have to pay Hilldun on time, or else risk losing their supply from all Hilldun clients.

Simply said, in a world of sometimes limited resources, Hilldun gets paid first.

BoF: Even if a brand does not avail itself of factoring services, what should one do to evaluate the credit worthiness of a shop, boutique or department store?

Evaluating the credit of a store without the benefit of a factor can be difficult. Designers can certainly ask the store for references from other designers, as well as trade and bank references and financial statements.
But, the difficult part is that financial statements are frequently dated, references are those chosen by the store and, in fact, credit is a moving (and sometimes a very fast moving) target. Having a factor in your area of the market is really the best way to know what’s doing from a credit perspective.

BoF: How is Hilldun as a business responding to the economic crisis?

Today’s environment makes evaluating credit even more difficult, and stores are susceptible to sudden and significant changes in credit which really should be monitored almost daily.

Hilldun’s concerns in this environment are, of course, the credit quality of a designer’s customers and the ability of the designer to get and produce sufficient orders to sustain its business, as well as its access to sufficient capital to produce its orders.

BoF: Finally, as the economic environment continues to deteriorate, what other advice would you offer to emerging fashion businesses in order to survive and thrive in the downturn?

The best advice that we can give to designers is to keep your overhead low, stay flexible, scale your overhead promptly to changes in your business including volume, only produce to order (don’t speculate on orders – its great to tell a customer you’re sold out!), and don’t sell on consignment or special arrangements (mark-downs, guaranteed profits, etc.). Your job is make a great product and ship it on time, the stores’ job is to sell it.

We are all in a difficult environment now, but as I often remind our clients, consumers can’t live without clothing forever. Demand is being built even as we struggle and change will come again in the future. Your job is to get there.

CEO Talk is an ongoing series of discussions with fashion entrepreneurs and business leaders as they combat the economic downturn. Previous interviews are listed below:

Natalie Massenet, Chairman and Founder, Net-a-Porter
Camilla Skovgaard, Shoe designer and Entrepreneur
Susan Lyne, Chief Executive Officer, Gilt Groupe
Priya Kishore, Founder and Creative Director, Bombay Electric
Alex Bolen, Chief Executive Officer, Oscar de la Renta

Marigay McKee, Fashion and Beauty Director, Harrods

LONDON, United Kingdom — Later this month, Luxury Briefing will hold its 14th Luxury Briefing Conference, an annual gathering of the industry’s great and good in London. Called Future Luxe, this year’s conference will explore the luxury industry of the future and incorporate a new format designed to foster more networking and interaction amongst the attendees. The speakers — including writer Dana Thomas, Soho House CEO Nick Jones, and WGSN founder Marc Worth — come from all quarters of the luxury sector, and will tackle a wide range of issues to make sense of an industry that is engulfed with change.

Amongst the most significant developments in the luxury sector in recent years has been the rapid evolution of the luxury consumer. We have witnessed shifting attitudes and buying behaviour of luxury consumers in established markets like Europe, America and Japan and the rise of luxury consumers in emerging markets, especially China. We have seen the emergence of the ‘aspirational’ luxury consumer, but also the rise of the ultra-high net worth consumer, each of whom have different expectations when consuming luxury products and services.

One of the undisputed global leaders in luxury customer service is London’s iconic luxury department store, Harrods, which has years of experience in serving different types of consumers, with different levels of spending power, from different parts of the world. In advance of the Luxury Briefing Conference, BoF caught up with Marigay McKee, Fashion and Beauty Director of Harrods and one of the store’s most important ambassadors, to get an exclusive sneak peek of a panel of influential women who will discuss luxury retailing of the future.

BoF: At the FT Business of Luxury conference last June in Los Angeles, you said that 400,000 people come through the doors of Harrods 1 million square foot building every week. A growing number of these shoppers are Chinese tourists. Can you tell us how you specifically serve the Chinese luxury consumer?

MM: The majority of our customers live in Central London, however, we also have a high percentage of international clients from across the country and across the globe.

Chinese visitors constitute a well established proportion of Harrods international customer base and numbers continue to grow significantly every year. At Harrods the trend is for the highly brand conscious Chinese shopper to seek out the very latest, limited edition, and or exclusive products. Fashion, beauty, accessories and fine jewellery from luxury brands including Hermès, Chanel, Louis Vuitton and Dior are amongst the preferences, and Harrods works closely with these brands to provide the exclusive and special edition goods these shoppers desire when they visit.

We continually tailor our service offering by working closely with Chinese tour operators to accommodate pre-booked groups, as well as by providing bespoke concierge services for customers. We are looking to expand on Chinese speakers and also have a Chinese Hospitality Manager to ease their shopping experience in store.

As well as the long-standing international reputation of our brand, our loyalty programme Harrods Rewards, an international Enewsletter, Chinese and Mandarin translations on Harrods.com and advertising in high end Chinese publications all contribute to the Chinese visitor’s attraction to the Knightsbridge store. Multi-lingual staff, later summer opening hours, worldwide shipping and our Global Blue tax free shopping service are also vital to the overall experience we offer all our international visitors and homegrown customers alike.

BoF: It is my understanding that Harrods plays particularly close attention to a small cadre of ultra high net worth clients who account for a very significant percentage of Harrods sales. How do you treat these UHNW customers differently?

MM: We do have a lot of high net worth clients who value an enhanced product offer, a great mix, excellent service and exclusivity on tap. We have special parking services, hospitality services and an excellent department for personal shopping called By Appointment run by a team of service focussed experts. Creating a personal rapport and valued relationship with our customers ensures they return. The CRM programme and team have greatly aided us in this arena as it is outstanding.

BoF: This past year, Harrods expanded its online function to launch new ecommerce categories which are set to grow healthily in the future. What makes the online experience at Harrods.com stand out? How do you integrate your online business with your retail business?

MM: Harrods is the World’s most famous Department Store. And there’s nothing like a trip to the store. However, with one physical location, the web is a vital tool in reaching shoppers on a global level, to match the power of the brand. We are just beginning on a journey to develop a site that matches the experience in store.

There is an intense interest and a significant investment in developing Harrods.com to add revenue and prestige to the site, as well as making it visually and aesthetically a ‘go to’ tool for research and shopping.

This year we introduced the Shoe Boutique on harrods.com, home to the latest collections and trends for women and men from leading International designers. This has been a key sales driver. As Harrods is just a unique destination, a large majority of our clients, especially the fashion regulars like to come in and experience the reality of the fashion bustle in store.

BoF: You will be speaking on a panel of influential women in luxury at the Luxury Briefing conference later this month. As you look to the future of luxury, what are your priorities for Harrods both in the short-term and over the next 5 years?

MM: Luxury is evolving at a very fast pace and real luxury is becoming even more discerning and sought after. We’ve seen huge growth coming from the power brands of the last decade but also renewed growth in heritage and couture classics. To really stand out we have to have a point of difference, a real wow factor in store, a unique exclusive factor and outstanding service levels in an unparalleled environment.

The formula to success varies from brand to brand from business to business but desirable aspirational luxury is here to stay and dream investments are on most people’s wish lists guaranteeing the need for a luxury store to fulfil them.

BoF is pleased to be an official media partner of the Luxury Briefing Conference to be held on 20-21 January, 2010 in London. A few tickets are still available to attend the conference in person. For further details, please visit the registration page and see the full itinerary here.

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CEO Talk is an ongoing series of discussions with fashion entrepreneurs and business leaders. Previous interviews are listed below:

Natalie Massenet, Chairman and Founder, Net-a-Porter
Camilla Skovgaard, Shoe designer and Entrepreneur
Susan Lyne, Chief Executive Officer, Gilt Groupe
Priya Kishore, Founder and Creative Director, Bombay Electric
Alex Bolen, Chief Executive Officer, Oscar de la Renta
Jeffrey Kapelman, Chief Executive Officer, Hilldun Corporation
Bonnie Takhar, Chief Executive Officer and President, Halston
Sara Ferrero, Chief Executive Officer, Joseph Group
Paolo Fontanelli, Chief Executive Officer, Furla
Stella Iishi, President and Founder, The News Inc.
Greg Furman, Founder and Chairman, Luxury Marketing Council
Sarah Curran, Founder and Chief Executive Officer, my-wardrobe.com
Brian Hill, Chief Executive Officer, Aritzia
José Neves, Founder and Chief Executive Officer, farfetch.com
Federico Marchetti, Founder and Chief Executive Officer, YOOX Group
Sojin Lee, Co-Founder, Fashionair.com
Harold Tillman, Chairman, The British Fashion Council
Christopher Colfer, Chief Executive Officer, Alfred Dunhill
Pierre Mallevays, Founder and Managing Partner, Savigny Partners
Robert Duffy, President, Marc Jacobs International
James Gardner, Founder and Chief Executive Officer, CreateThe Group
Stephanie Phair, Director, TheOutnet.com
Jeff Rudes, Founder and Chief Executive Officer, J Brand Jeans
Lisa Montague, Chief Executive Officer, Loewe

John Varvatos rocks on, Stylish social sharing, Emanuelle Alt’s Vogue position, British wool’s comeback, Art of denim

Fusing Rock ‘N’ Roll With Fashion (WSJ)
“With two fashion labels—John Varvatos, a classic menswear line that celebrated its 10th anniversary last year; John Varvatos Star USA, an edgier, younger collection and the most profitable of the lot… the 56-year-old designer now has nine stores in the U.S., a robust ecommerce site and plans to open stores in London and Berlin.”

Arbiters of Style See It, Post It and Share It (NY Times)
“Melding social networking and the style maven’s obsession with all things beautiful, sites like Fancy and Svpply have emerged recently, letting users shop and fetishize while creating and sharing things they like with friends and followers, from clothes to art to gadgets.”

Emmanuelle Alt to Head French Vogue (WWD)
“Known for rock ’n’ roll style — pinned on big-shouldered jackets, skinny jeans and vertiginous heels — Alt, 45, is a low-key yet influential fixture on the Paris fashion scene. Her name should appear on the top of the masthead of the April issue as Roitfeld winds up her tenure.”

British wool industry back in fashion as exports rise (BBC)
“After years of decline, the British wool industry is fighting back. Exports of wool are on the way up and knitting has become the latest hobby of the rich and famous…. Jenny Hill speaks to Ian Hudson and James Laxton from Laxton’s Specialist Yarns about the rise in wool exports.”

Forever in Blue Jeans (WSJ)
“When one ponders the history of the fabric, certain images may come to mind. Levi Strauss & Co.’s original pair of dungarees… Jane Birkin in impossibly low-rise bell bottoms roaming the streets of Paris… Brooke Shields ensuring nothing got between her and her Calvins.”

Bespoke inflation, Chinese seek experiences, Barneys’ latest hire, H&M and Elin, Missoni’s Museum of Everything

Why Dressing Well Is Costing More (WSJ)
“The culprit is the rising price of fabric. Cotton prices climbed a record 91% in 2010, and the price of crossbred wool hit a 14-year high in October, up 50% over 15 months… But higher material costs are only part of the story: Increasing demand caused by rising affluence is another.”

New Experience Economy to Drive China Luxury in 2011 (Red Luxury)
“Consumer demand for luxury experiences generally lagged the demand for luxury goods, but the time line in China is much speedier. Luxury demand for experiences is expected to occur almost simultaneously with that of luxury goods.”

An Editor Goes to Barneys, but Not to Shop (On the Runway)
“Dennis Freedman, the former creative director of W, has a new job: creative director of Barneys New York. As part of the continuing changes made by Mark Lee, the retailer’s new chief executive, Mr. Freedman will be responsible for overall creative direction of the store.”

Fashion Blogger Snags next H&M Collaboration (Financial Times)
“After the much-publicised sell-out success of their pre-xmas collaboration with Lanvin, high street megalith H&M has announced their next partner: Elin Kling, a Swedish fashion blogger and stylist. The bloggers have moved from commentators to creators.”

Outsider Art Finds Its Place in Fashion (IHT)
“The Museum of Everything’s exhibition of artifacts from historic fun fairs, old amusement arcades and folk art using taxidermy to create surreal scenes of human domestic life is the backdrop of Missoni’s latest fashion campaign.”

Wealthy holiday shoppers, King of Hearst, POST matter, The Met gets a face-lift

The King of Hearst (WWD)
“By the time Hearst finishes acquiring Hachette from Lagardère, the company will have spent more than $1 billion in a little under a year while the rest of the magazine industry is still recovering from the Great Recession.”

Is There A World POST Print Magazines? (Style.com)
“The brainchild of creative director Remi Paringaux, the former art director of Dazed & Confused and Vogue Hommes Japan, POST was explicitly conceived for the new multidimensional page… Here, [POST editorial director Xerxes Cook] talks to Style.com about media’s next wave.”

Face-Lift for Met’s Costume Institute (NY Times)
“The Metropolitan Museum of Art is planning a major renovation of its renowned Costume Institute. The project will enable the museum to show off part of its world-class permanent collection 10 months out of the year in a more contemporary setting.”

Wealthy treated themselves during the holidays (WSJ)
“The rich treated themselves like royalty this holiday season. That spun the holidays into gold for Tiffany & Co. and other high-end retailers… shoppers traded up to more expensive gold and diamond jewelry from silver charms. Designer clothing and purses were back.”

Behind the Tweets: Learning from the Best of the Fashion Twitterati

The Fashion Twitterati | Source: DKNY and Oscar de la Renta
NEW YORK, United States — To tweet, or not to tweet. That has been the question on many fashion business minds over the past year. Not every brand needs a Twitter account, but if a brand does decide to stake out a presence on Twitter, they should do so with a clear plan in mind and a voice that is consistent with the brand, while also opening up a new point of view. Most of all, Twitter should be a tool for engagement with a brand’s fans and followers.

That is all easier said than done. Some brands on Twitter don’t follow anybody else and only broadcast information out, which is the schoolyard equivalent of talking all the time, while shutting your eyes and ears and not listening to anybody else. You don’t make many friends that way. Then there are the brands that set up a Twitter account, and then fail to keep it active, which is kind of like inviting a brand’s fans to a big event, and then not showing up to greet them. It 0nly serves to disappoint fans and followers. Still other brands require tweets to be ‘approved’ by legal and PR departments, which takes away from the spontaneous, real time nature of Twitter.

Thankfully, there are a few fashion businesses that are doing it right. They have found ways of communicating about their brand that have caught the attention of tens of thousands of followers, and more importantly, have made those followers feel like part of the brand’s online community.

BoF sought out three of the most prolific and successful fashion twitterers, and for the very first time, spoke to the people behind fashion’s greatest tweets to learn from their success.

DONNA KARAN and DKNY

@DKNY — A true innovator, the reigning queen of the fashion Twitterati, DKNY PR girl has built a huge following amongst fashion fans for her honest opinions and behind-the-scenes peeks into the PR department of one of New York’s most celebrated fashion brands.

Name: Undisclosed
Age: A gentleman should never ask a lady her age
Number of months with DKNY: Too many to count
Number of months tweeting: 21
Followers: 240,000+

How did you get selected to be the voice of DKNY on Twitter?

When we decided to start on Twitter we wanted it to be very transparent. This was not someone speaking as the “voice” of the brand. This was not someone speaking as Donna Karan. @dkny is very uniquely my view as a PR person at Donna Karan International. As part of our decision to pursue this, I showed my colleagues several examples of what I would tweet – ranging from highlighting some of our best new products to giving some insight into our lives here “behind the scenes” — and they liked it. They were a great initial focus group, but I feel so gratified that we have received so much support from our followers. It is great to be able to engage with people who love our brands.

What was your strategy for building up a loyal following?

I am a social person by nature. What I have tried to do is combine all that is Donna Karan and DKNY with some fun, quick commentary my followers can relate to. I don’t think setting out to secure a following works – it’s an organic evolution.

How would you describe your voice?

Unedited, honest, lightly (sometimes heavily) sarcastic, friendly and engaging.

What is the best success story you can share of a business benefit that has come as a result of your Twitter presence?

I am very fortunate to have amazing, interactive and loyal followers. So many of them do my job for me. I lovingly call them #DKNYPRGirl’sTeam (we’re making T-shirts). They will search out product links from donnakaran.com or dkny.com or press on the brands and tweet about them even before I do.

Who are your 5 favourite fellow Twitterers to follow?

There are too many to count. I actually follow more than 400 fellow Twitterers. If you visit my profile, you will see a lot of the people I follow love the same things I do… there are a lot of fashionistas out there.

What makes a ‘good’ Twitter account — what are your parameters for success?

I don’t think Twitter success is weighed only in number of followers. I think it can also be judged by how often you are recommended to be followed.

Why did DKNY decide that Twitter was a communication tool that made sense for the brand/business?

As a brand, you need to reach people where they are and interact with them in the ways they interact with each other. The fact that over 240,000 people follow me shows that our customers are indeed on Twitter themselves.

Was it difficult to get buy-in from senior management to go down this route?

No. From day one, our management was excited about it, as they recognized that Twitter was another way that we could engage with our customers. They also showed a lot of foresight, because they knew it would only work if I could be real, unedited and write what I know… and a lot of what I know is the world of Donna Karan.

Our management has been very forward thinking about the power of digital and social media overall. Besides being active on Twitter, we were one of the first brands to have iPhone apps (we have two actually, one devoted entirely to the DKNY Cozy and one for Donna Karan New York. We stream our fashion shows on Facebook, we’ve created a number of videos featuring stars such as Christina Ricci on our website. Just a month ago we launched donnakaran.com as ecommerce and relaunched dkny.com, to offer full brand experiences. On this joint site, content meets social media and commerce in unique ways. There is enormous excitement about it across our Company. That is why it is great to work here – the creativity, the innovation and the recognition that the success of our brands lies in the people that love them.

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BERGDORF GOODMAN

@Bergdorfs — A Twitter voice for one of the world’s most venerated department stores from one of its youngest staffers, Bergdorf Goodman’s Twitter feed has made the sometimes stuffy Fifth Avenue staple more open and welcoming, especially to a younger, more digitally connected consumer.

Name: Cannon, Social Media Manager
Age: 20s
Number of months with Bergdorf Goodman: 60 – or 5 years
Number of months tweeting: 11
Followers: 33,000+

How did you get selected to be the voice of Bergdorf Goodman on Twitter?

My job is to share the Bergdorf Buzz. It all started when I worked in our Special Events department and helped maintain our Facebook page. We understood the importance of social platforms and what was being said there; so, when the company decided to dedicate someone full time to those efforts, I became our Social Media Manager. I started tweeting in January – it really is the best part.

What was your strategy for building up a loyal following?

I’m their friend…I’m always there to listen and help – and to give an insider’s perspective (whether it’s interviewing Victoria Beckham, going behind the scenes with our Visual team, attending Fashion Week…or getting happily distracted by something new and fabulous in our Shoe Salon).

How would you describe your voice?

Enthusiastic. Sincere. Honest. Fun.

What is the best success story you can share of a business benefit that has come as a result of your Twitter presence?

Twitter has made us aware of an entirely different audience. They’re enthusiastic but honest… and they love to communicate with us. Impeccable customer service has always been our priority – and having the opportunity to listen to and assist clients from Twitter has proven incredibly useful in making that happen.

Twitter also has enabled me to bring the Bergdorf Goodman experience to life… in a very new way. There’s only one Bergdorf Goodman in the world, so I am their direct line of communication. Our Fifth Avenue New York address means that we always have so much going on, whether it’s designers visiting, new collections arriving or exciting new exclusive merchandise; and Twitter is an excellent way to instantly share all of this news from an insider’s perspective. Think of it this way: Even if you’ve never visited Bergdorf Goodman in person but follow Bergdorfs on Twitter, you’ll know that we had a Holiday Windows Challenge with Polyvore, carry four different styles of Texting Gloves and were very excited to introduce Roger Vivier’s Miss Viv handbag collection with Inès de la Fressange.

Who are your 5 favourite fellow Twitterers to follow?

It changes weekly – but those who currently make me click might include @stefanogabbana (& his uninhibited use of exclamation points), @Peter_Som, @evachen212, @ManRepeller and @askmrmickey.

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OSCAR DE LA RENTA

@Oscar PR Girl – The magic of Oscar de la Renta comes alive via the tweets from its Director of Communications, who not only provides insights into the workings of this brand, but even dresses up in Oscar’s clothes to preview them for her thousands of followers.

Name: Erika Bearman, Director of Communications
Age: 29
Number of months with Oscar de la Renta: 27
Number of months tweeting: 18
Followers: 27,000+

How did you become the voice of ODLR on Twitter?

The specific idea for OscarPRGirl came from Alex Bolen, our CEO. The premise was simple: I would write about my experience of working in PR for Oscar de la Renta, the aspects of our brand that I thought others might find interesting, and my fashion-centric life in New York City.

What was your strategy for building up a loyal following?

I got started on Twitter by thinking: how can I bring our followers inside of the work that we do, and make them a part it? How can I tell the story of Oscar de la Renta? Then I just started talking. I was, and am still, hoping to tell a group of people a little more about a designer and a brand that they might know, or perhaps already admire. I think it’s interesting to share the details that make me feel connected to my work, like hearing Oscar whistling from his studio, or the tracklist from a recent show. In the process, I have tried to be a compelling storyteller- someone you want to listen to.

How would you describe your voice?

A little bit bold, kind of glamorous, and ultimately lighthearted. Oscar always asks that all elements of our brand, from the clothes to our advertising, convey a sense of joy- I hope that our Twitter has a dose of that same spirit.

What is the best success story you can share of a business benefit that has come as a result of your Twitter presence?

Recently one of my followers was trying on our wedding gowns at Bergdorf Goodman, tweeting me pictures from the dressing room and asking my opinion. We both loved the same one: a guipure lace and ostrich feather embroidered gown. She purchased it. I thought it was interesting because it was an impact at the store level vs. e-commerce. Essentially, I was in the dressing room with her.

Who are your 5 favorite fellow Twitterers to follow?

@mashable and @techcrunch because a girl has to stay on top of these things, @johnjannuzzi because he is smart and angsty, @bergdorfs because I think she is great at it, and @therealdaphne because we both live in a world without flats.

JOURNAL STANDARD

Pages

Saturday, 29 January 2011

Flexible Men

Preppy look returns, replacing understated with louder style

Darling of understated style

Friday, 28 January 2011

Wealthy habits and prefernce| SEAs

Horyn and Menkes beg to differ on designer appointments, Vuitton’s boom, Eco-friendly factories, Luxury Titanic?

Legacy of Savile Row,Masstige, Polo Profit, China, Reaching Wealth Go Direct

Top 10 Articles of 2010

Bottega Veneta

A segment to watch

Discreet Luxury: This is slow fashion

Milan Fashion Week | Commerce and creativity

Brazilians and beachwear, Ethical luxury, Hermès shares jumpsHermès’ resilience, Bally’s e-commerce, Ralph Lauren sales down, LVMH holding steadySales

Hermès 2009

Hermès

Getting to know Christophe Lemaire, the new Artistic Director of Hermès

Hermès

Hermès continues to defy gravity

Copycat Culture | The Shape of Things

Annual Digital IQ Index of Luxury Brands Released

Jeffrey Kapelman, Chief Executive Officer, Hilldun Corporation

Marigay McKee, Fashion and Beauty Director, Harrods

John Varvatos rocks on, Stylish social sharing, Emanuelle Alt’s Vogue position, British wool’s comeback, Art of denim

Bespoke inflation, Chinese seek experiences, Barneys’ latest hire, H&M and Elin, Missoni’s Museum of Everything

Wealthy holiday shoppers, King of Hearst, POST matter, The Met gets a face-lift

Behind the Tweets: Learning from the Best of the Fashion Twitterati