The Business of Fashion

The Business of Fashion | Welcome to BoF Beta

WE'VE MOVED: WWW.BUSINESSOFFASHION.COM

LONDON, United Kingdom -  Just in time for the holidays, we are proud to unveil our new brand identity and beta web design. This post, an introductory article to the new site, will be our last on the typepad.com domain. We won't be taking comments here any longer and encourage you all to visit the new BoF in Beta going forward.

(RSS and Email subscribers, make sure to click here to see our new look -- your feeds will be automatically re-routed from the new site in the coming days. Thank you for your patience)

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Since the summer, we have been working with the talented Design Science Office, a boutique design agency in London, to create a visual identity to match the voice that BoF has developed over the past two years. In addition, we aimed to improve the navigability of the site and improve the access to our growing archive of content. And voila!

Fashion 2.0 | The rise of the online fashion film

NEW YORK, United States - Quoting Steven Kolb, executive director of the Council of Fashion Designers of America, saying the format of showing the Fall 2009 collections this February is the “number one item on everyone’s agenda right now,” The Wall Street Journal's Heard on the Runway blog recently asked the question: "Will fashion shows survive the economy?"

To answer this question, it's important to consider how fashion shows function in today's media landscape. Increasingly, images and video from runway shows, captured by the established media, as well as a new generation of fashion bloggers wielding video-enabled camera phones, reach a global audience of fashion consumers, in close to realtime, on Style.com, YouTube and fashion blogs around the world. As a result, today's shows are not simply aimed at editors, buyers and other industry insiders. They have become remarkable vehicles for conjuring and transmitting the energy of a brand to end consumers.

BoF Daily Digest | Watches' appeal fades, Bullish accessories, Louis Vuitton halts store, Opening Ceremony

Rolex appeal fades as recession blues hit Singapore (Reuters)
As Singapore enters a recession, the demand for luxury watches such as Rolex is declining.

Accessories Transform Consumer Fashion Sense Into Billion Dollar Surge (Marketwatch)
In a tough market, some accessories categories are experiencing "bullish" growth."

Louis Vuitton Scraps Plans for Ginza Flagship (WWD)
Louis Vuitton 10 story Ginza flagship store in Tokyo has been put on hold.
Louis Vuitton Scraps Plans for Ginza Flagship

The open mind behind Opening Ceremony (Ponystep)
Ponystep goes behind the scenes of the purveyor of all things cool, Opening Ceremony.

Rolex watch, photo courtesy of Rolex.

BoF Daily Digest | Low consumer confidence, Polish thrift stores, Textile waste, Fashion Crisis

December Consumer Confidence Approaches Six-Year Low  (Seeking Alpha)
Amid bleak economic news, American consumer confidence continues to decline sharply.

In Poland, Style Comes Used and by the Pound (New York Times)
In Poland, "thrift stores here have become impromptu laboratories of the changing mores and attitudes in a country adjusting to newfound wealth."

Disposable fashion: for sale, hardly worn: two million tonnes of clothes (Times UK)
The frequency of clothing purchases have have significantly accelerated in recent years and as a result, "textiles have become the fastest-growing waste product in the UK."

Year in Fashion: Fashion Crisis (WWD)

This tumultuous year has illuminated the fact that the fashion system is broken. 

Image courtesy of Pantagrapher.

BoF Daily Digest | Recession spending, Tory Burch’s new store, Chinese consumer anxiety, Engagement bling dips

Even in Recession, Spend They Must: Luxury Shoppers Anonymous (New York Times)

Consumers who can afford luxury items are shopping discreetly. 

Tory Burch’s Quiet Meatpacking Opening (WSJ)

Tory Burch opened a Meatpacking District store with very little fanfare. 

Consumer Anxiety in China Set to Jolt Economy (WWD)

According to the WWD, "China’s economy is being hit by the global economic downturn, and its consumers are feeling the pinch."

Lunchtime Snap: Engagement Bling Loses Some Sparkle (WSJ)

"This year, some jewelers say they’re noticing consumers cutting back" on purchases of rings for engagements. 

Photo courtesy of the New York Times. 

BoF Daily Digest | Zara's strong sales, Mulberry's profit warning, Elle's avatar, Low cost shopping

Zara owner Inditex posts strong sales (Drapers)

Despite the volatile market conditions, Inditex has posted a net sales increase of 11 percent this year. 

Mulberry issues profit warning (Drapers)

According to Mulberry, its profits for this year will fall short comapred to last year. 

Elle Magazine Gets Into The Avatar-Apparel Business (WSJ)

Elle has recently "launched an apparel line for virtual world avatars."

Consumers Shift to Lower-Priced Stores (WSJ)

This holiday season, more Americans are shopping at lower-priced stores. 

Retailers hurt by prospect of leftover Christmas stock (FT)

Many retailers have entered the Holiday selling season with a lot of merchandise in stock which could  significantly hurt their profitability down the road. 

 Photo courtesy of Zara. 

BoF Daily Digest | Retail sales stall, UK's £1m a minute, Organic & eco-friendly beauty

Shopping Takes a Holiday (Portfolio)
"Sales are tepid, shoppers are hesitant, and price is everything."

No retail growth until 2014 (Drapers)

"Next year will prove to be one of the worst years on record for high street retailers," and growth is not set to return until 2014. 

Shoppers spend £1m in a minute online (Drapers)

In a record breaking day for e-commerce in the UK, shoppers spent more than £1 million in one minute. 

The Potential For Organic And Eco-Friendly Beauty (WSJ)

Despite the tough economy, there's room for growth in the eco-friendly and organic beauty market.

Photo courtesy of Portfolio.com. 

A Deeper Luxe | The new ethics of luxury

Just a few years ago, the concept of Ethical Luxury was dismissed by major luxury brands. Products based on environmental concerns and fair trade principles were associated with hippies. Most fashion conscious cosmopolites wanted nothing to do with the Birkenstocks, baggy pants, and hemp T-shirts of the so-called green movement. 

Today the current has started to shift. With global income inequality worsening and a rapidly deteriorating environment, social issues have come to the forefront of consumers' minds. They now expect a greater commitment to craftsmanship, social causes and environmental concerns. 

BoF Daily Digest | De La Renta's luxe Pre-Fall, Nautica shutters women's, Doo.Ri's new line, Mascara buzz

Oscar de la Renta’s Unabashedly Luxe Pre-Fall Collection (WSJ)
Unlike some designers who are forgoing runway shows to cut costs, Oscar de la Renta staged a "glitzy" pre-fall 2009 show yesterday in New York.

Nautica to close women’s division (CNN Money)
Nautica is to shutter their money losing women's division.

Doo-Ri to Launch Lower-Priced Line Next Year (WWD)
Doo.Ri is launching a secondary, lower priced, yet to be named line that will take after her signature looks.

Mascara Provides Buzz to The U.S. Makeup Industry (WSJ)
Mascara has seen a rise in demand at a time when sales for the overall makeup industry is on a decline.

Oscar de la Renta Pre-Fall 2009, photo courtesy of Oscar de la Renta.

BoF Daily Digest | Luxury losing edge, Boucheron in NY, Online shopping, Conscious consumption

Luxe is losing its edge (International Herald Tribune)
Luxury goods companies such as Bulgari are employing cost cutting methods that are modifying "their traditional focus on glamour and glitter."

Video: Boucheron Attempts to Crack New York’s Luxury Market (Wall Street Journal)
At a time when luxury goods companies are cutting back on spending, Boucheron plans to open a private boutique in New York.

Retailer's prepare for biggest online shopping day (Drapers)
Today is the biggest online shopping day in the UK, and shoppers are expected to spend £320 million.

Flaunting Days Are Over as Consumers Cut Back (WWD)
According to Faith Popcorn, "conspicuous consumption is over and conscious consumption is starting."

Bulgari party in Paris, photo courtesy of the International Herald Tribune.

Luxury Outlook | Gucci cuts back production capacity

Take a walk into a Gucci store these days and one cannot help but notice the preponderance of logos and icons on almost every Gucci product in sight, especially the brand's leather goods, shoes and accessories. Horsebits, double G's, and Gucci crests abound. But, it seems the conspicuous logos are failing to resonate with consumers in these recessionary times.

Rumours are circulating in Italy that Gucci has dramatically cut production orders to make up for waning demand for the Italian luxury brand's core leather goods offering. If the reports are accurate, it speaks volumes about the worsening climate for luxury goods players in general, but particularly for brands like Gucci which have chosen to follow an explicit "accessible luxury" strategy.

BoF Daily Digest | Thakoon for Target, Bling in this economy, U.S. loses 533,000 jobs, Retail discounts

Thakoon on Target, Recessionista Fashions and Dressing Michelle Obama (WSJ)
Thakoon has "copied" looks from his main line for a limited edition collection with Target.

The New Bling in this Economy (WSJ)
 "Diamonds may be forever but in this economy, faux and semiprecious stones may be for now."

Economy Loses 533,000 Jobs (WWD)
In the US, November's 533,000 job losses, was the "steepest monthly fall since 1974 and a major hit to the most important underpinning for consumer spending."

Do retail discounts work? (Just Style)
Steep shopping discounts this holiday season could do some damage to the retail business.

Thakoon s/s '09, photo courtesy of Thakoon.

BoF Daily Digest | Cyber Monday sales, Holiday shoppers, Best etailers, Karan cuts back

Clicks Up: Cyber Monday Sales Rise 15 Percent (WWD)
 "Cyber Monday was the second largest day of shopping online ever."

Holiday Shoppers Lured Only by Big Bargains (WSJ)
Deep discounts are the main draws for cautious consumers.

Drapers Etail Awards 2009 shortlist revealed (Drapers)
Drapers lists the best "etailers" of the year.

Donna Karan Cuts Back, Again (Fashionista)
Donna Karan, plans to alter her brand's campaigns in response to the economy.

Photo courtesy of  www.webhostingpattaya.com.

BoF Daily Digest | Fashion shows survival, Uniqlo acquisitions, Mugler returns, Wintour rumors

Will Fashion Shows Survive The Economy? (WSJ)
Runway shows are expensive ventures, and this upcoming Autumn '09 collections, designers may consider cheaper alternatives for presenting their collections.

Uniqlo considers UK acquisitions (Drapers)
Uniqlo, the Japanese fast fashion chain, is looking for acquisitions in the US and the UK.

Beyonce [Hearts] Thierry (WWD)
"Thierry Mugler is is diving — or rather, dancing — back into fashion via an ambitious collaboration with Beyoncé Knowles."

S.I. Newhouse on Anna Wintour Speculation: “Silliest Rumor I Ever Heard” (WSJ)
The recent reports of Carine Roitfeld replacing Anna Wintour at American Vogue are "silly" according to S.I. Newhouse.

Runway show, photo courtesy of the New York Times.

BoF Daily Digest | Japan's Fast-Fashion Frenzy, McCartney's new stores, Gap's resurgence, Shoppers' short attention

Japan's Fast-Fashion Frenzy (JC Report)
"Japanese consumers have fallen head over heels for cheap clothing and may never turn back."

McCartney Sets New Tokyo, Paris Stores (WWD)
Although the brand is only seven years old, Stella McCartney has opened new stores in Tokyo and Paris.

The Gap's Resurgence: Great Start to the Holiday Season (Seeking Alpha)
At Gap, "spending is up significantly" for November 2008 compared to last November.

Retailers Will Find It Hard to Keep Shoppers' Attention This Year (Seeking Alpha)
Though Black Friday sales were impressive in the US, many analysts think that consumers wouldn't be able "to sustain their buying frenzy for the duration of the holiday season."

People lining up to purchase goods at Topshop in Tokyo, photo courtesy of  jcreport.com.