Saks Fifth Avenue’s Post

The Luxury Market is changing 🤔 By 2026, 61% of Luxury spending will be Gen Z and Millennial consumers. And these younger consumers are rewriting the rules. The launch of Phoebe Philo’s brand new luxury label last week demonstrated just how much the industry is changing. Philo is the ex-creative director of Celine so her decisions are a great signpost of the way things are going… Here’s some takeaways: 👉 ONLINE FIRST There will be no physical retail or wholesale distribution for Phoebe Philo. It’s online only. This is a big risk but reflects the growing desire of younger consumers for digital or phygital consumer journeys. Increasingly, luxury audiences are channel agnostic, and more and more purchases are made online. 👉 THE IMPACT OF STREETWEAR Phoebe Philo’s Strategy clearly draws inspiration from the success of streetwear brands who offer consumers the hype and exclusivity of ‘drops’ and ‘pop-ups’. In the case of Philo’s label, clothes will be offered in ‘drops’ with only 100 pieces per style. 👉 SOCIAL IMPACT MATTERS Materials used in Philo’s collection are mostly natural and bio-degradeable. All pieces are designs are seasonless, with the intention to be worn throughout the year. Alongside the limited production, this appeals to younger consumer’s desire for positive social impact and ethical production. The only thing left to be seen is… will it work? The launch of Phoebe Philo represents a litmus test for the industry. This might be the new face of luxury. #luxury #newfaceofluxury #creativemarketing #culturalmarketing #genz #millenial #phoebephilo #fashion https://lnkd.in/dEkvFTFg

UNIQLO has an exceptional talent for fostering extensive, ongoing designer collaborations that become a part of your long-term wardrobe. The just-launched C by Clare Waight Keller looks to be the latest chapter in that strategically intelligent book; it's great. In my personal experience, the collaboration products - J by JIL SANDER , JW Anderson, and U by LEMAIRE- make a product that lasts in quality and style. They invest in fabrication, make, AND original design - in the lane of more direct fashion (I am reluctant to call them fast because they exist in a vastly different universe from Cider SHEIN Forever 21 boohoo). Engaging these collaborations in moderation is a choice I don't feel dirty about making because I wear the heck out of the product, meeting and surpassing the idea that it is in any way a temporary part of my wardrobe. The truth is that almost always I have to wear these garments out for them to be banished to their next chapter. These collaboration programs are far from perfect but are also lightyears away from the ruination of other fast fashion if you purchase with intention and are conscious of how you will wear and then share the garment onward. Yes, this product has a resale market, so it can land in someone else's closet rather than a landfill. Resale viability is a positive side effect of their investment in original design versus knocking off others' ideas, quality, brand integrity, and often natural fiber raw materials - I work to avoid the petroleum-based portions of these programs. #uniqlo #shien #forever21 #consciousliving #consciousfashion #sustainablefashion #sustainability #sustainabledesign

There are many articles in fashion publications (from BOF to WWD) discussing in detail the future of department stores and online luxury sites. The basic narrative has not changed since 1991 - focus on a unique assortment, providing different types of merchandise. It doesn't matter that we are in 2024 and any type of merchandise is widely available. And if the store/company found a "golden nugget", in a few months the "nugget" would be everywhere. Of course, merchandising direction is important but it doesn't get far from everyone's favorite -"special curation" (whatever you want to put behind this term). What is the difference between, let's say, NM and SAKS? There are some differences in reward programs, and some brand ownership (usually, companies sell the same brands but in different locations, to keep distribution more exclusive). Anything else? I've written many times that in my opinion, this strategy leads to a slow decline. However, if stores want to keep it, they should change two things: to develop a partnership with the brands (brands need to understand this as well) and refocus on the sales force. But if those companies are looking for new ways to deliver business (service), it should be customization, catering to a specific group, by providing not only a traditional service (selling goods) but also creating a lifestyle environment around the approach. For instance - in Japan, there is a department store chain called Lumine. Japan has more department stores per capita than any other country, so, to be successful it needs a strategy. Lumine focuses on young women. There are programs for recruits (in Japan, college graduates enter the workplace on April 1st), that include business wardrobe, makeup suggestions (you can purchase it as well), pop-up stores themed by season - currently spring clothes for young women, pop-ups for contemporary (young) brands, currently from the Korean brand "muahmuah", that targets 18-25, etc. It doesn't matter if you visit the website or physical store - the client target is clear. How many stores in the US have a clear customer target? However, the challenge is not only to identify the target but to find a way to communicate with it. The worst performance in this department for 2023 belongs to the Victoria and Albert Museum. I will continue in the comments, please read them. #wwd #bof #fashion #customer

For The Walrus I wrote about why Roots' tapped the edgy fashion designer Joey Gollish as the brand's first-ever creative director-in-residence, and whether that decision makes sense for the legacy brand. Trying to make a mass brand cool is always a risky strategy, but Roots needs to commit one way or the other to find out if this is a risk worth taking. The global domination and polarization of the fashion industry—between fast fashion and luxury— reveals larger cultural and economic fissures: a shrinking middle class and an imperative to always express our individuality primarily through clothing. What place do mall brands—or normal clothes, for that matter—have anymore? If you go to a mall, you see mostly Fashion, not clothes.

The fashion industry's "contemporary" category is experiencing quite a transformation, as outlined in this insightful article by Fashionista. We all know the consumer landscape has been significantly reshaped by the COVID-19 pandemic - and the retail industry must now adapt their offerings to accommodate a consumer with new financial realities and shifting personal needs. Relevant contemporary labels highlighted in this article include Marc by Marc Jacobs, The Donna Karan Company, LLC., Kors by Michael Kors, Vince, alice + olivia, and Theory, servicing the important bridge between luxury and fast-fashion, often offering more timeless and versatile styles. In recent years, the category has seen new participants emerge such as Ganni A/S, Maggie Marilyn, Nanushka, STAUD, and Tibi. However, as aspirational shoppers become more conservative with their spending, and return-to-office policies require consumers to reconsider their professional wardrobes, the contemporary category is poised for reimagination and resurgence. With Macy's recently launched new line On 34th, as well as the evolution of Nordstrom's 1.STATE, we hope to continue to see more fresh and innovative approaches to contemporary fashion.    #consumerinsights #consumertrends #fashion #retail #trends

"Empowering Fashion Fusion: Embracing the Intersection of High-End Glamour and Streetwise Cool" The contemporary fashion industry is experiencing a notable shift towards sustainability and inclusivity, with brands increasingly embracing eco-friendly materials, ethical production practices, and diverse representation in their campaigns and runway shows. Additionally, technology is playing a significant role in enhancing the customer experience through virtual fashion shows, augmented reality try-ons, and personalized styling algorithms. This intersection of sustainability, inclusivity, and technology is reshaping the fashion landscape and driving meaningful change in the industry. One appealing aspect is the fusion of high fashion with streetwear and athleisure, which creates a dynamic and versatile style landscape. This blending of luxury with casual elements has led to the emergence of exciting collaborations between high-end designers and sportswear brands, catering to a diverse range of fashion tastes and preferences. The result is a fresh and innovative approach to fashion that resonates with a broad audience, further energizing the industry. #fashionknowledge #insightful #depthinfashion

#cultivateculture #ralphlauren is one of the first #brands to market a #lifestyle — enduring the feeble fashion and home design industries with consistent, understated elegance, woven through a sense of living the RL experience (even if it’s more of a manifestation than reality). Always great to read Pamela Danziger posts on #luxury and #luxurybrands #affluent #cultivatemeaningfulgrowth

Throughout recent seasons, certain shifts have been underway for #menswear. Driven by the return to offices, the rise of “semi-formal wear” has taken precedence over the male wardrobe. It is a trend that has only been reaffirmed by the sector’s increased reliance on #fluidity, the prominent demand for relaxed clothing and, of course, the ever present ‘quiet luxury’ aesthetic that has defined the shopping habits of many. #Quietluxury #Menswear #Wardrobe #Fashiontrends

Outerwear brand Moncler and streetwear brand Billionaire Boys Club launched a collaboration Tuesday, according to a release sent to Fashion Dive. The line features separates, accessories and outerwear, and is co-branded with both BBC and Moncler logos. Prices range from $290 for a wool jacquard beanie to $3,380 for a wool and leather varsity jacket. BBC is co-owned and was co-founded by current LVMH menswear designer Pharrell Williams, whose debut collection for the French luxury house was presented earlier this year during Paris Fashion Week. Margins and sales continue to be a challenge for many enterprises. A business review of data including health check of reports along with the budget, forecasting, costing, capital, cash flow, demand, capacity, and HR planning may find ways to increase profits by product, facilities, and geographies.   Here are links that can assist with your data and AI journey as part of your planning, forecasting, budgeting, capital planning, cash flow forecasting, analysis, activity-base costing, demand planning, capacity planning, HR planning, and reporting cycles (operational, management, and regulatory):   Stock market - Blog – Stock Market for the week-end August, 5, 2023 - https://lnkd.in/gyghqTyp   Key Environmental Areas – https://lnkd.in/gmKExD7a    Scenario Planning - https://lnkd.in/g2M6Rka4   ESG reporting Standards? - https://lnkd.in/gnms3fy7     Close, consolidate, and reporting - https://lnkd.in/gARHRXB4       Data Management - https://lnkd.in/g8SvPfDx     Circularity - https://lnkd.in/gJwAujhp     Biodiversity - https://lnkd.in/gJxv-fZj   #profitability #sales #margins #inventory #cashflow #EBITDA #EBIT #production #integration #integratedplanningandreporting  

Is One Still Better Than Zero? Size Inclusivity and Casting Challenges at NYFW “Sometimes I see brands with 99% thin models and one plus-size,” Hermand-Waiche said. “It’s better than zero, yes, but it doesn’t feel very authentic to do it that way.” During the last New York Fashion Week (NYFW) in February, the representation of plus-size models and size-inclusive runway shows declined by nearly 24%, signaling a setback in the progress made towards diversity in the fashion industry. As this month of NYFW unfolded, designers in the size-inclusive space revealed that casting and modeling challenges continue to contribute to the lack of diverse runways. Casting challenges stem from the limited pool of plus-size professional models, estimated at only around 5% of the talent available to fashion brands. Plus-size fashion is now a nearly $300 billion industry, but runway and consumer representation remains disproportionate. Gita Omri, founder of her extended-size fashion brand, was able to book 12 plus-sized models for her September 8 show, achieving a 50% split with standard-size models, which far exceeds the NYFW norm of normally only zero to two plus-size models. She highlighted that the common practice of casting just days before NYFW, often doesn't allow an adequate timeline to fit for plus-size models. Morgan Hermand-Waiche, CEO of Adore Me, a lingerie brand, also suggested that brands should consider recruiting non-professional models to address the talent pool limitation, as demonstrated in their September 9 show. Nonetheless, we see that the fashion industry must continue to rethink casting practices and challenge the status quo to achieve genuine representation on the runway. With emerging technologies such as virtual size recommendation tools, we see new avenues of opportunity to streamline try on and fitting processes with technological transformation. Article:  https://lnkd.in/g8CyWNHZ #nyfw #fashionweek #sizeinclusivity #modeling #casting #sizediversity #plussize #sizereccomendation #fashionnews #runway #SS2024 #talent