The Business of Fashion

Marc Jacobs: The Cult of Corporate Cool, New York

Who said that big brands can't retain the DNA of what made them interesting in the first place?

This past week in New York, I visited the Marc by Marc Jacobs store on Bleecker Street, the little brother store to Marc Jacobs mainline collection. Both businesses are owned by LVMH, the world's largest luxury goods conglomerate. Marc Jacobs is also the Creative Director for Louis Vuitton, the company's largest fashion brand. So, you might expect that the company feels corporate and over marketed.

Thus, it was a pleasant surprise to walk into the Marc store and see a huge yellow chicken mascot sitting in the store window. A (suitably cool) photographer named Thom was taking photos of customers posing with the chicken and then posting them in the store windows for all to see.  As Thom explained, the tradition of taking these kinds of photos goes back years in Marc Jacobs history to Marc's infamous Christmas parties, where extravagantly dressed up patrons would pose together as momentos of the party. You can check out some of these photos on Thom's website.

By translating this fun experience into the store, customers are engaging with the Marc Jacobs brand in such a cool way, that is not staged or fake, but an authentic part of Marc's lifestyle and appeal. Some more photos of the instore antics are below.

Crowning glory: The CFDA/Vogue Fashion Fund

For all of you budding young designers based in America, the CFDA has officially begun its annual search for America's most promising young designers. Each year, the CFDA awards a $200,000 grant to the winner, along with mentoring from a recognised fashion business guru as part of the CFDA/Vogue Fashion Fund.  Past winners include the intelligent and talented Doo-Ri Chung (looking super glam in this ad) who is mentored by J.Crew's legendary Mickey Drexler and the refined-beyond-their-years Proenza Schouler design duo, Jack McCullough and Lazaro Hernandez, who were mentored by Burberry's impressive former CEO, Rose Marie Bravo.

This is a really great initiative from the CFDA and other venerable fashion names like Barneys New York and Vogue. That said, I have one suggestion to make it even more powerful. I believe the CFDA should supplement the business mentoring and cash with a requirement and access to funding for the winning designers to find a suitable day-to-day business partner/advisor. While mentoring from an experienced fashion business executive is priceless, it does not make up for daily support and partnership.

I have made this point before, but so many young designers try to do everything on their own, and this means they deal with areas where they might not have any formal training or expertise. One look at the long list of established designers who have relied on business parters to act as thought partners on day-to-day decisions and to share the workload, shows that this is a real pattern of success in the industry.  Marc Jacobs (who has Robert Duffy), Miuccia Prada (has always worked with her husband Patrizio Bertelli), Tom Ford (who with Domenico De Sole turned Gucci around from a fuddy duddy backwater brand), Giorgio Armani (Sergio Galeotti worked with Armani for years before he passed away), Valentino (Giancarlo Gianetti is still his business partner, even if he is no longer his life partner), and Derek Lam  (Jan-Hendrik Schlottmann) have all shown that this tandem approach can help to get the business off the ground properly, allowing the designer to focus more on the creative aspects of the business.

This ad above, from today's WWD, lays out all of the requirements and the application procedure. Good luck!