Displaying items by tag: Cubitts

Friday, 26 October 2018 10:32

ChicGeek Comment Coal Drops Yard Kings Cross

Coal Drops Yard Kings Cross Review VisitEasily the most anticipated retail destination - we can’t use ‘shopping centre’ anymore, can we?! - of the year, and the final piece of the huge Kings Cross jigsaw, Coal Drops Yard mirrors the life of the entire area. From industrial power to warehouse parties to sanitised private/public spaces, this could be a micro model of London as a whole over the last 100 years.

Now reimagined by Thomas Heatherwick, who has joined the two ‘Kit-Kat’ pieces with a sweeping roof which lightly touches across the divide. This was the kiss Kings Cross/St Pancras was waiting for and not that cringeworthy sculpture greeting you as you disembark off the Eurostar. 

Opening today, with over 50 new stores, it’s currently only about 50% open, and the most stunning aspect, the Samsung store inside the roof, is far from finished. 

Firstly, the architecture is great. What could have been clunky, the roof is elegant and sweeping. Reslated in the original Welsh tiles, Heatherwick works his magic and creates something modern yet respectful to the original. This is the human scaled, brick built industrial Britain that is a joy to bring back to life.

Situated just down from Granary Square and up from the main stations, Coal Drops Yard opens out into a generous V shape with two main levels of shops and restaurants. This feels like the type of retail space you want to give yourself time to explore.

There’s also another space on the other side of the main block called Lower Stable Street that is for smaller and start-up businesses. It has touches of the Southbank with the concrete.

Coal Drops Yard Kings Cross Review Visit

There are a few restaurants - Barafina, Casa Pastor and wine bar The Drop, but it feels the mix is too heavy on the retail, today, especially with the need to drive traffic. People don’t need to go shopping anymore, but they do need to eat. You could easily use the space in the middle for market type concepts.

They’ve made an effort to have a mix of brands - COS, Paul Smith, Tom Dixon, Cubitts, Universal Works, Rains, Aesop, Maya Magal, Miller Harris and Le Chocolat and there are a few that are new to me. 

You want to explore, but there’s no element of surprise. The retail mix is dry. It’s from the Monocle school of aching design, devoid of personality. This feels like stylish retail from 10 years ago. We’re in the age of Gucci, of bonkers, of wanting-to-get-my-phone-out-and-take-a-picture-mental, not a single one of the finished shop fits was worthy of an Instagram. Even Paul Smith has produced one of the most conservative shop fits I’ve ever seen from him. You’d think he would have tapped into the rave culture history of the site, especially when you consider so many of his more casual clothes would have been worn there.

This is for one type of design customer and I don’t think that’s as aspirational as they think. It’s also needs a destination store. There was lots of talk from the lease manager about going to Paris for inspiration. When didn’t they resurrect Colette here or try a Dover Street Market type concept. It needs a pilgrimage store, or whatever that is in 2018, to get people up from the stations. 

Coal Drops Yard Kings Cross Review Visit

I really think Coal Drops Yard has missed a trick by not tapping into the nostalgia for the area. Those clubbers are now in their 40s with money to spend and families to bring. There are exhibitions regarding the history in the Visitors Centre, back in Granary Square, but I would have done more on site to remind people of their happy times spent at The Cross or Bagley’s nightclubs.

As I said, it’s not fully finished and all these things will evolve. When listening to Thomas Heatherwick give his welcoming talk I thought about the reinvention of Covent Garden, which he then mentioned, and was a huge success, and then I thought about the early 90s, when they tried to turn a similar concept, Tobacco Dock, into a similar retail destination. It was the wrong location at the wrong time. This is in a better position, but like I said, they need enough people to know about it to want to walk up from the stations.

I think we’ll see more food outlets eventually and also they need something like a vintage market, similar to Spitalfields, to raise the element of discovery and keep you coming back.

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Published in Fashion
Tuesday, 28 August 2018 15:59

ChicGeek Comment The Expanding Eyewear Market

Selfridges Eyewear DepartmentWalk into Selfridges’ new eyewear department and you’ll see a noticeable change in the eyewear market. Amongst the acres of grey terrazzo and perfectly lit vanity mirrors, you’ll discover 2,200 eyewear styles from 50 brands, some costing nearly £8000.

This is eyewear placed in equal importance to the other accessories in Selfridges’ refreshed accessory department - the largest in the world at 60,000 sq ft and costing in excess of £300m. Sitting alongside the luxury handbags and designer boutiques, it illustrates the new focus from luxury goods companies on their eyewear product. It is no longer the rather side-lined licensing cash-cow it once was and as such, is no longer taken for granted.

Left - Selfridges' new eyewear department on the ground floor

Much like the perfume business, niche players have entered the eyewear market, offering difference and quality. The designer brands are sitting up and taking notice and while Selfridges’ new eyewear department is run by the Luxottica, owner of Ray-Ban and many other designer licenses, it hasn’t completely monopolised it with its own brands.

Gucci Kering Eyewear DepartmentNew brands to Selfridges include Fak by Fak and Project Produkt, while others, such as Grey Ant, Retrosuperfuture and Thiery Lasry, have created exclusive styles for the space.

The eyewear market is actually experiencing the reverse of what is happening in other categories. Luxury brands are putting more focus and input into their product and increasing the quality and workmanship in order to compete. At the same time, thanks to brands like Gucci, eyewear has become an integral part of a look or outfit and it’s the bolder, the better ethos, right now, that is making eyewear sales rocket.

“The industry's certainly going through a time of flux. At one end you've got the old guard consolidating - Luxottica and Essilor being the obvious, gargantuan example. Then at the other, you've got a whole bunch of new own-branded entrants. And then in the middle, you've got the high street multiples (who still collectively control over 70% of the market in the UK).” says Tom Broughton, Founder of Cubitts.

It wasn’t long ago the branded eyewear market was a duopoly dominated by the Italian giants of Safilo and Luxottica. In 2014, the luxury conglomerate, Kering, eyeing the potential of cutting out of the middle man in their eyewear business, terminated the licenses with Safilo for brands including Gucci, Alexander McQueen and Saint Laurent. 

Right - Gucci has really lead the way in pushing mainstream experimental styles

“To maximise the development of its brand portfolio, Kering decided to internalise the value chain for its eyewear activities, from product creation and development to supply chain management, sales and marketing.” says its press release.

“Through this project, Kering is putting in place an innovative way of managing its eyewear operations, which will lead to significant value-creation opportunities and enable the group to fully capture the sheer growth potential of its houses in this category, in a global market which is sizeable and in which the high-end segment is enjoying substantial growth.” it says.

Today, ‘Kering Eyewear’ designs, develops and distributes eyewear for Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Stella McCartney, McQ, Boucheron, Pomellato, Brioni, Christopher Kane and Puma.

Kering understand the profits and growth to be seen in eyewear and by taking it in-house, it cuts out a cost plus adds control. The results have seen more distinctive styles imbued with the individual brands’ DNAs. It is lead by Roberto Vedovotto who was previously CEO of the Safilo Group.

“For the last couple of decades, 'designer' eyewear has really meant branded eyewear. And so those who controlled access to those brands - big players like Luxottica and Safilo - controlled much of the market. But I think there's a general change in consumer appetite for more independent brands, particularly those mono-brands who just try do thing one thing exceptionally well. Our old friend the internet has meant that it's also possible for small start up brands to sell directly to end consumers, rather than be encumbered by the traditional wholesale model.” says Broughton.

Eyewear market expert opinion The Chic GeekAlistair Benson, Managing Director Eyesite Opticians, says “The big fashion houses are, now, more concerned with producing distinctive eyewear with better quality that adds to the success of their other product lines. We saw Céline remodel their already best selling ‘Shadow’ piece, introducing new and improved hinges and additional colours. An example of an already proven and successful formula being upgraded just to ensure it stays at the front of the pack.

“As competition grows, fashion houses inevitably need to ensure they are producing more innovative products to stand out. Another reason for this is the rise of niche/cult brands and start-ups; take the jazz inspired Black Eyewear for example. All-in-all, it makes for a much more stimulating market that benefits today’s highly engaged consumer, who now have more choice than ever before. From our own perspective, as a retailer, we have had to adapt to this change, responding quickly to shifts in certain trends and the overnight rise of new cult brands to ensure our own customers have everything they need and more.”

Left - One of the most famous eyewear wearers - Elton John inspiring the Gucci catwalk

Gordon Ritchie, MD of Kirk Originals, says “Recent years has seen the emergence of smaller niche eyewear labels appearing that offer handmade, up to bespoke quality, eyewear collections and a number of people like ourselves are making in England.

“It is driven by smaller niche players and I think this is a reaction against the handful of huge corporations that now dominate the global eyewear business and between them actually produce pretty much everything with a "big" brand name on it.” he says.

Niche brands are offering more artisan and limited product, but the big boys have recognised this and are moving into this area. The margins on eyewear are large and there’s everything to play for. Luxottica, reported a 2 percent rise in 2017’s sales to 9.16 billion euros and Safilo had full-year sales totalling 1.05 billion euros.

Designer fashion brands have made eyewear an integral part of their fashion collections. These flamboyant styles have resonated with consumers especially with its entry price points. But, smaller, niche players are offering individuality which attracts many consumers to well designed and made eyewear.

“I think this is a result of people growing in confidence in expressing themselves, probably helped along by them being exposed to so many images on a daily basis on Instagram. Instagram can be inspiring but also allows you to feel you’re not the only one pushing the boundaries a little bit by being bold in your choices in colours and styles.” says Ritchie.

“I think people will increasing see a pair of spectacles or sunglasses as a defining piece of their wardrobe, rather than merely a medical accoutrement to help them see.” says Broughton.

People are buying many more pairs to suit different outfits and moods. Add in the recent fashion of coloured lenses and it broadens the scope of choice. “We believe that people will continue to look for more individuality in their eyewear, too. Much like other countries in Europe, we expect increasing numbers of customers to buy 3–5 sets of frames each year in order to mix it up and achieve a different look whenever they want.” says Mary-Frances Kelly, Marketing Manager at Optical Express.

“Fashion in general has become more experimental, and people are realising that they can achieve a different look with a certain style or colour of frame. And it’s not just the under-30’s who are fashion conscious – across the generations, we’re more style-aware about everything, including glasses, than ever before.” says Kelly.

This is something really positive. It reflects a thriving market. The big brands have recognised the threat and, wanting to hold onto the many hundreds of million of dollars involved, are focussing on directional styles and quality. This leads to better product and choice for everybody. They have, thankfully, realised that simply putting different names on the same glasses just isn’t enough anymore. Add the maximalist mood in fashion and everybody wanting to be an Elton John or Iris Apfel, then you have a very bold, experimental and receptive market. Let’s hope this type of thinking enters other sectors of the luxury business. 

Published in Fashion

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