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Fashion, Luxury and Heritage in the Time of COVID 19 FBS C19 Issue 9

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Fashion, Luxury and Heritage in the Time of COVID 19 FBS C19 Issue 9 Fashion, Luxury and Heritage in the Time of COVID 19 FBS C19 Issue 9: 03.07.20 1 Buying luxury, isn’t always about being rich, or having unlimited money. Luxury is aspirational and often ethically sourced and hand crafted. It links to ‘buy better buy less’, but also to being able to trace every component required to produce the product, and every stage of its production. There are less made, and with many products they can be used for many, many years, passed on or simply resold as vintage. I have a friend who’s classic Fendi passport holder is now over a quarter of a century old, a far better investment in twenty-five years of travelling than a cheap version. Investment in fashion is indeed an old trend, and like vintage or collectible, a description which luxury embraces. Whatever the luxury product, from a belt to a car, it’s about investing your money for a worthwhile return. The big names of fashion, the famous, the solidly established are strong in their majestic certainty. Christian Dior, Gabrielle ‘Coco’ Chanel established fashion houses that we now simply call Dior, Chanel, Hermes, Cartier and a host of other brand names that immediately spell out luxury, quality, and heritage. For these brands the COVID pandemic, the lockdown and the concerns have been different, it’s less a worry and more of an interruption, as they march forward with confidence. Gucci and Saint Laurent make statements which they know the followers of those brands and labels will simply follow and support. Haute Couture is starting as planned, albeit in a different format, luxury jewellery and watch auctions are continuing, luxury accessories are much in demand. Just as in the past people say luxury is ‘recession proof’, so it might appear that luxury is also COVID19 pandemic proof. There are however changes afoot, and the important thing is to read, watch and learn how the top level of the fashion industry is reacting, how they’re discussing, what steps they are taking to stay at the pinnacle of the brand pyramid. In luxury the shop or franchise is only a part of the story; staff training, or the slick packaging and glossy carrier bag; every detail and component counts. The face of the brand, the celebrities in the front row, the newest fragrance, every second is calculated. How the heritage, the rhythm they have established, continues to drive the name forward year after year after year. The role of the designer and all the marketing, PR, communications, branding, finance and CEO’s working together to ensure that the brands future is secure. This is why the musical chairs of designers is so fascinating as we see who, what and how the shift of the house style is dealt with. It remains the same but is updated, edited, re arranged and refreshed. Indeed, the change of the house designer doesn’t even always shift the sales figures by a large margin, up or down. It’s the name in the end, and often it’s bigger than the incumbent designer. Luxury is a world of its own, from a publisher like Assouline, through limited edition shoes, and bespoke tailoring, and onto couture ball gowns and private planes. At its most extraordinary it’s outside the dreams of most people, but the pieces which are accessible such as a wallet, a lipstick or a pair of sunglasses, must be carefully aligned to the exclusive handmade trunk or the bespoke fragrance. It’s this balance which becomes so vital for the business and drives the communication, the ideas and level of 2 innovation. Today there are so many platforms to work with on establishing a conversation between the customer and the label. If you can access the savoire faire of the production of a single piece through YouTube, then the access to the entry price points becomes a lure to the clients. Luxury is still about selling and making money, it’s just more discrete about it and more subtle in how it persuades the customer to part with their cash. Tony Glenville Fashion Commentator Steven Klein for Vogue: • https://www.bain.com/insights/luxury-after-coronavirus/ Luxury after Covid-19: Changed for (the) Good? Sales could fall up to 35% this year, but companies can still emerge stronger, more innovative and more purposeful. 3 • https://www.transformmagazine.net/articles/2020/luxury-brands-at-the-time-of- covid-19-towards-a-new-humanism/ In the next normal, commercial intent and genuine altruism will eventually balance out. But the exercise in empathy undertaken during these few months have equipped many luxury brands with the critical strategic tool to make significant strides and get traction in the post-pandemic competitive landscape. • https://www.positiveluxury.com/blog/2020/06/15/how-the-luxury-industry-is- staying-afloat-during-covid-19/ From new digital showrooms to refreshed fashion calendars, we look at some of the ways the luxury goods industry is shifting gears – and what may lie in the future. • https://cpp-luxury.com/continued-dramatic-unfold-of-the-covid-19-pandemic- to-severely-impact-the-global-luxury-industry/ We estimate a further decline of up to 15% for the first half of 2020, considering the worsening sentiment among Asian consumers, especially China, Thailand, Malaysia and Indonesia. Only brands which have a demonstrated investment relevance are likely to perform better (ex Hermes, Chanel, Rolex, Patek Philippe) • https://sarasotainstitute.global/the-consumer-in-the-age-of-coronavirus/ Philip Kotler is widely acknowledged as the father of modern marketing and the world’s foremost expert on strategic marketing. He was voted the first Leader in Marketing Thought by the American Marketing Association and named The Founder of Modern Marketing Management in the Handbook of Management Thinking. 4 Viktor & Rolf: Haute Couture: The new model for couture week in Paris is starting, as each day passes, news, invitations and questions appear for the press. What we are still uncertain about is the final format. Below are the names already moving forward with confidence and creativity, and he most up to date visuals. Let’s wait and see. Rahul Mishra: • https://www.vogue.in/fashion/content/rahul-mishra-will-return-to-the-official- couture-week-calendar-in-a-new-format Alexandre Vauthier Maurizio Galante 5 Alexis Mabille Save The Date: Dear All, I hope you’re keeping well. Please find attached the save the date for Alexis Mabille’s virtual Live show Haute Couture Fall-Winter 2020-21 which will be launched on Tuesday 7th, July at 1:30pm. The registration for Paris HC Fashion week online professional area access is opened. Here is the link: https://forms.office.com/Pages/ResponsePage.aspx?id=oxQM9BMp_UmwFaD5VNi93 TVq1bsPjj5ErpiJYHh6fZhURVQ4N1kzQU04NVdXMUpXVjZQNE9XVVFQRS4u (Registering will be closed on 3rd of July) Please let me know if you have any questions. Best regards, Noriko NORIKO CHIKAMORI OBCM obcm.net Valentino Haute Couture Announcement: VALENTINO HAUTE COUTURE FW20-21 Valentino is pleased to announce that the Haute Couture Fall Winter 2020-21 collection will be presented through a special show conceived by Pierpaolo Piccioli. The Creative Director of Valentino has involved the artist Nick Knight in order to amplify human Haute Couture values through an idea where the Maison mastery will be highlighted by the digital side. The project arises from an idea, that Pierpaolo Piccioli already had in mind before the pandemic, that merges the human and digital worlds creating a bond that is the legacy of the re- birth period we are experiencing. The limits that we are living need to be transcended through grace and lightness. The Maison will continue to attend its appointment with the Federation de la Haute Couture et de la Mode on July 8th 2020 at 6.00 pm revealing the inspiration of the exclusive Live Performance that will take place then in Rome on July 21st 2020 at Cinecittà Studios. The Live Performance will bring together the human and the digital touch creating a dialogue where neither of them will take the lead. No digital effects can substitute the humanitas. The result will be the expression of the inner values of Couture: creativity, imagination and emotion. 6 The Performance will be live on digital channels and selected fashion reviewers based in the country will be invited to the event in Rome, in the respect of the current situation, following all necessary safety measures. Viktor & Rolf Couture Show Reminder: Hey Tony, I hope you have been keeping well, I wanted to check in to see if you will be covering the couture shows this coming season. Viktor and Rolf are planning to digitally reveal their new collection on Wednesday, July 8th at 4pm. It would be great to know what you and the team have planned, or if you will be covering the collections. Any information will be super helpful Let me know Cherelle xx Kindest regards, Cherelle Byfield Account Manager, Communications Karla Otto London 30 Sackville Street London W1S 3DY United Kingdom Dior Save the Date: Dear Tony, I hope you are well. Please see the below SAVE THE DATE for the Dior Haute Couture Fall/Winter 2020-21 collection presentation to be revealed exclusively online on Monday, 6th July 2020 at 1.30pm (2.30pm Paris Time). Invitation to follow Best wishes, Callie 7 Dior: Heritage, history and a brilliant repertoire of signatures… Whilst working for Lucien Lelong, Pierre Balmain and Christian Dior talked of opening their own couture house together. However, Balmain couldn’t wait and started his own house solo. This spurred Dior to get backing from Boussac, a fabric manufacturer, hence the unlimited access to fabric allowing Dior to use huge meterage to create his first collection.
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