BUSINESS | Designers Fashion A Go-Slow Future For Catwalks And Collections


MILAN – From Armani to Gucci, top fashion houses are re-designing their calendars to slow down the frantic pace of catwalks shows and new collections, as the coronavirus pandemic forces a rethink of the way the industry works.

Luxury labels are scaling back the number of collections they show at fashion weeks across the year in London, Paris, Milan and New York or at other events in exotic locations.

After more than two months of lockdown, with shops shut across the globe and manufacturing sites idled, the $310 billion luxury goods sector is on course for a 2020 sales drop of up to 35%, consultancy Bain estimated.

Brands are grappling with piles of unsold stock and the prospect of widespread discounts that risk denting their aura of exclusivity as well as profits.

U.S. designer Michael Kors was the latest to call for a post-virus slowdown in the fashion calendar on Monday, as he pulled out of New York’s show in September.

He said he would only make two collections a year – one for spring/summer and one for fall/winter, skipping so-called resort and pre-fall collection that many high – end labels have recently begun producing to refresh stores in the winter and over summer.

These collection showcase holiday wear for foreign travel that jetsetters may have to forgo this year.

These have added to the number of designers’ creations, capsule and collaborations that critics say are out of sync with consumer’s needs, particularly in a global recession. A cruise or resort collection is typically shown in May and delivered to stores in November.

Robert Burke, founder of luxury retail consultancy Robert Burke Associates, said the move towards fewer collections fits with a consumer shift from disposable fashion.

‘Buying things that you know you’ll only have for a short time period or go out of fashion immediately doesn’t seem attractive right now’.

Slow Fashion

The debate about fashion industry excess pre-dated the crisis, but has been given a sense of urgency by the pandemic, which is pressuring brands to cut costs and shed inventory without losing to much money.

Kors said deliveries of its products would from now on be scheduled to arrive in store incrementally over the spring/summer and fall/winter season, more closely reflecting ‘how customers actually live and shop’.

‘It is imperative that we give the consumer time to absorb the fall deliveries, which will just be arriving in September, and not confuse them with an overabundance of additional ideas, new seasons, products, and images’.

Armani, in an open letter to fashion trade publication WWD, said luxury labels should stop mimicking hectic fast fashion delivery schedules.

‘It makes no sense for one of my jackets or suit to live in the shop for three weeks before becoming obsolete, replaced by new goods that are not too different’, he wrote.

Alessandro Michele, who turned Gucci into a cash cow for French owner Kering, has also said he would cut the label’s year shows to two from five.

And in its end-May earnings presentation, Ralph Lauren said it had rebalanced its assortments towards ‘core’, less seasonal products, which have faster lead times and less mark down risk.

CFO Jane Nielsen said the summer collection would stay in stores through August ‘to maximize full-price selling’.

The brand will also set aside some finished products for upcoming seasonal collections, even if that means keeping clothes in inventory longer than usual.

Brands like Gucci and LVMH’s Dior have used more frequent collection and expensive events in exotic places to lure a rich, but also voracious, clientele, particularly in China.

With luxury spend hit by the crisis, some industry insiders say it no longer makes sense to have such huge marketing expenses – a fashion show can cost well over $1 million.

The move towards showing and producing less also reflects a power shift between brands and big U.S. department stores, which long dictated the timing of products releases to keep their stands looking fresh.

Multiple deliveries allowed the stores’ sales associates to call their clientele regularly, saying ‘Come in, we’ve got some new products’, Ron Frasch, former president of Saks Fifth Avenue, told Reuters.

That puts winter coats in shops in the middle of the summer and gives department stores leeway to discount as they see fit –  something that Frasch said was a ‘bloodbath’ for most brands.

With the pandemic accelerating the demise of Neiman Marcus and other top U.S. retailers, the model is now increasingly being called into question, he said.

Yet some brands are resisting the call for a leaner fashion schedule. Chanel, which in a show of strength increased prices in May, said it would stick to six collections a year.


BREAKING NEWS | Saudi – Led Coalition Intercepts Ballistic Rockets, Drones Launched By Yemen’s Houthis: State News Agency

RIYADH | SAUDI ARABIA – The Saudi –Led Coalition said on Monday that it intercepted and destroyed two ballistic rockets and six drones laden with explosives launched by Yemen’s Houthis towards the kingdom, the state news agency said, citing the coalition spokesman. The coalition has started a military operation against the Iran-aligned group after it … Continue reading BREAKING NEWS | Saudi – Led Coalition Intercepts Ballistic Rockets, Drones Launched By Yemen’s Houthis: State News Agency

BUSINESS NEWS | Federer – Backed Sports Shoe Maker On Preparing For IPO, Swiss Paper Says

VIENNA – Swiss sports shoe maker On, partly owned by tennis champion Roger Federer, is in the early stages of preparing for a stock exchange listing in summer or autumn of next year, newspaper NZZ am Sonntag reported. The Zurich – based company, founded 10 years ago, says it has  special sole technology that is … Continue reading BUSINESS NEWS | Federer – Backed Sports Shoe Maker On Preparing For IPO, Swiss Paper Says

BUSINESS NEWS | Abu Dhabi Fund Suspends Debt Service Repayments For Countries, Companies

ABU DHABI – Abu Dhabi Fund For Development has suspended debt service repayments for some countries and companies for the year, the state-financed fund said on Sunday. The fund provides financial assistance to companies in the United Arab Emirates and to developing countries, which has included Pakistan, Egypt, Sudan and Ethiopia. Debt service repayments would … Continue reading BUSINESS NEWS | Abu Dhabi Fund Suspends Debt Service Repayments For Countries, Companies

WORLD NEWS | Pope ‘Very Pained’ By Decision To Turn Istanbul’s Hagia Sophia Museum Into Mosque

VATICAN – Pope Francis said on Sunday he was hurt by Turkey’s decision to make Istanbul’s Hagia Sophia museum a mosque, the latest religious leader to condemn the move. ‘My thoughts go to Istanbul. I think of Santa Sophia and I am very pained’, he said during his weekly blessing in St.Peter’s Square. Turkish President … Continue reading WORLD NEWS | Pope ‘Very Pained’ By Decision To Turn Istanbul’s Hagia Sophia Museum Into Mosque

BUSINESS | Saudi Telecom Extends Vodafone Egypt Stake Purchase For Second Time

RIYADH | SAUDI ARABIA – Saudi Arabia’s largest telecoms operator Saudi Telecom CO said on Sunday it would need another two months to complete the purchase of Vodafone Group’s 55% stake in Vodafone Egypt. STC signed a non-binding agreement in January to buy the majority stake for $2.4 billion, but extended the process in April … Continue reading BUSINESS | Saudi Telecom Extends Vodafone Egypt Stake Purchase For Second Time

TV | There’s A New Documentary All About The Ritz Hotel

 A new documentary about the famed The Ritz Hotel is on its way. Inside The Ritz Hotel follows several important events that took place at the London hotel in recent months, including the launch of its first cookbook and an exclusive look inside the Michelin-starred kitchen. As well as all things foodie, the documentary series … Continue reading TV | There’s A New Documentary All About The Ritz Hotel

THE POWER OF INFLUENCE | Angelina Jolie Discussed How She Talks To Her Kids About Racism

Angeline Jolie is no stronger to change. She’s worked as a Special Envoy of the High Commissioner for Refugees to bring attention to the challenges that refugees face around the world. With the current state of the world, which involves protestors everywhere fighting for racial equality, Jolie told Harper’s Bazzer U.K. that she’s sitting down … Continue reading THE POWER OF INFLUENCE | Angelina Jolie Discussed How She Talks To Her Kids About Racism

NEWS | Mohamed Bin Zayed Receives Brazilian President’s Phone Call

ABU DHABI – Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, discussed Friday with the Brazilian President, Jair Bolsonaro, bilateral relations and ways to enhance them in all fields. In a phone call, the two leaders reviewed a number of regional and international … Continue reading NEWS | Mohamed Bin Zayed Receives Brazilian President’s Phone Call

NEWS | Saudi King, Crown Prince Send Condolences To UAE Leaders On Death Of Sharjah Official

RIYADH | SAUDI ARABIA – Saudi Arabia’s King Salman and Crown Prince Mohammed Bin Salman sent messages of condolences on Friday to the leaders of the United Arab Emirates (UAE) on the death of Sheikh Ahmed bin Sultan Al Qasimi, deputy ruler of the emirate of Sharjah. ‘(We) ask God Almighty to bless him with … Continue reading NEWS | Saudi King, Crown Prince Send Condolences To UAE Leaders On Death Of Sharjah Official

NEWS | U.S. State Department ‘Disappointed’ In Turkish Government Decision On Hagia Sophia

WASHINGTON – The U.S. State Department on Friday said it ‘was disappointed’ by the government of Turkey’s decision to change the status of Istanbul’s Hagia Sophia after Turkish President Tayyip Erdogan declared the ancient monument a mosque again. ‘We understand the Turkish Government remains committed to maintaining access to the Hagia Sophia for all visitors, … Continue reading NEWS | U.S. State Department ‘Disappointed’ In Turkish Government Decision On Hagia Sophia

Loading…

Something went wrong. Please refresh the page and/or try again.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s