Remainers cover your ears. One of the world’s strongest fashion brands is moving its headquarters to London despite Brexit. Yes, Brexit hasn’t put them off. Chanel has decided to close its global headquarters in New York and move it to London.
Until now, Chanel did not have a single holding company for its operations and functions were located in a number of cities. In a statement from the French company, they said, “We wanted to simplify the structure of the business and London is the appropriate place to do that for an international company. London is the most central location to our markets, uses the English language and has strong corporate governance standards with its regulatory and legal requirements.”
Left - Even London's lampposts are Chanel!
‘Chanel Limited’ became the holding company of most Chanel entities in the summer of 2017 and this is why the majority of the global functions are now located in London.
“Brexit's economic and geopolitical impacts remains a challenge for the London economy. London is still dealing with a hangover from Brexit.” says Brandon Rael, Operations Strategy & Innovations Leader & Retail Digital Strategist. “We should expect that London will experience an upswing when the economy stabilises. Moving the Chanel HQ to London is very much a long-term strategy.” he says.
Chanel could have chosen Paris, but instead chose London, and this goes against the anti-Brexit rhetoric of companies leaving in their droves. In July, Chanel revealed its financials for the first time in its 108 history. It generated nearly $10 billion in global sales in 2017, making it one of the world’s biggest luxury fashion brands. This new openness is Chanel positioning itself and facing up to the dominance of the likes of Kering and LVMH. This is for the next, digital chapter in Chanel’s history.
Brexit is so close, now, it is time to start looking beyond it and, Chanel’s decision would have been a long term decision from this globally revered company. While one company moving its headquarters to London doesn’t prove anything. In the same vein, one company moving out, doesn’t either. The major reasons companies move or stay in London won’t change post Brexit. They move to London because of geography, language, law and talent pool. This is about London competing with New York or Hong Kong and it is the only truly world city within Europe.
“London remains the world‘s most promising city for luxury retail growth, despite troubles faced by the Brexit vote,” says Rael. “A new report conducted by CBRE and Walpole has found that compared to other major luxury destinations across the globe, London still holds the greatest long-term potential,” he says.
The newly christened Capri Holdings - formerly Michael Kors - has its principal executive office in London and Condé Nast International recently choose London to cope with the new demands of its digital future. Everything catwalk related: photography, video, social media and features will be lead by Vogue International, an editorial hub established last year to lead content for the 25 editions of the magazine.
In an interview in the New York Times with Wolfgang Blau, Chief Digital Officer of Condé Nast International, he said two-hundred editorial and engineering staff members had been hired, and next year, he wants to have a Vogue presence at about 900 runway shows all feeding back to London. This is Condé Nast cutting costs and becoming more efficient while focussing its global fashion content in London. This will only get bigger. Its travel magazine, Condé Nast Traveler has moved onto a new single platform, and it too would be overseen not from its birthplace of New York, but from London.
Right - London, not New York, is the global centre for all digital content
We were told that "Brexit would make us poorer”, but since the vote, and with a background of caution and underinvestment, Britain has a joint record high employment rate of 75.6% with 32.39 million people now in work according to the latest official statistics. (June 2018). There were 488,000 unemployed people aged from 16 to 24 for May to July 2018, the lowest figure since records began for youth unemployment in 1992. Overall, unemployment fell by another 55,000 between May and July to 1.36 million. Wages saw faster than expected growth in the three months to July. Excluding bonuses, wages grew by 2.9%, according to figures from the Office for National Statistics (ONS), well above the inflation rate.
Business is doing well. UK Trade benefitted from a goods export boom in July. Official figures showed the deficit in goods dropped to £10 billion in July from £10.7 billion the previous month. Including service, the overall trade gap fell to just £111 million, one of the best monthly results in the past 20 years. In the three months to July overall goods exports grew by £4.3 billion while imports rose by £3.7 billion. This came largely from trading with countries outside the EU.
“It looks like Brexit is going to be a good thing for luxury fashion as people in the US and China take advantage on preferential tariffs coming from the UK.” says Fleur Hicks, Managing Director of onefourzero, a data analytics and digital research agency.
Eurotunnel recorded its best ever August for freight traffic and the number of passengers passing through Heathrow’s terminals jumped to 7.5 million last month, boosted by new services to China. Europe’s biggest airport, said August customer numbers were up 2.6% from a year earlier and cargo volumes were up 1.2%. Asia saw the biggest increase in passenger numbers, up 6.3%, with new services from Hainan Airlines, Tianjin Airlines and Beijing Capital. Gatwick also saw a 0.4% rise in passenger numbers to 4.9 million and its cargo traffic soared a whopping 22.3%.
Irina Bragin, from Made of Carpet, who specialises is making luxury carpet bags, says “I think I have one advantage of Brexit in mind. Today selling to the EU as retailer (to the end buyer) we pay VAT, same as we sell in UK. After Brexit, it will be the same as selling to US, or Canada, or Australia - no VAT to pay.”
I know it’s fashionable not to be positive about Brexit, but, it’s 6 months away and it’s time to turn the negativity into optimism. Global businesses are looking past Brexit, for the longer term, and what makes London great to do business in hasn’t really changed. Brexit is something new and unknown, but, in Britain’s true entrepreneurial spirit, we can do this!
Opposite the Duke of Westminster’s magically misty plane trees, and, in, what is, the epicentre of moneyed fashion in London, 5 Carlos Place already feels established. The handsome red brick, late Victorian townhouse curves as it welcome you into its exclusive enclave and sits at the entrance of Mayfair’s most exclusive shopping area.
Left - The entrance to 5 Carlos Place
This is matchesfashion.com's all singing, all dancing townhouse. It’s part retail, part cafe, part personal shopping, part experiential, part showcase, part exhibition space, but totally the buzzy physical heart of the online phenomenon matchesfashion.com has become.
matchesfashion.com previously had a townhouse in Marylebone, but it was more an exclusive personal shopping concept with no retail. That has now closed. The majority of its stores were always in the periphery of London in wealthy neighbourhoods, while 5 Carlos Place is slap, bang in the middle of the middle and illustrates how far matchesfashion.com has come.
While the signage outside is discreet, it’s the amount of people coming and going that will draw your attention. Not exactly something this area is used to - high footfall - it will definitely ripple out to the adjacent retailers and give that energy these types of areas often lack.
Right - The third & fourth floor houses these bookable shopping suites
The five-story townhouse has been redesigned by architect Philip Joseph, partner of fashion designer Erdem Moralioglu, while retaining many original features like the plaster ceilings and fire places. The first two floors are retail. More a showroom than a traditional store, it is currently showcasing an exclusive partnership with Prada - bananas and all! But, it’s not all big budget names, the next designer to have the space is Marine Serre.
Left - The Regency like plaster ceilings
The items are displayed with QR codes next to them so you can simply link to the appropriate page and then order. Everything can be sent to the townhouse within 90 minutes or get sent to your home address. If matchesfashion.com prices are a little out of your league, they currently have a Prada X matchesfashion.com vending machine dispensing matches, coloured markers and the like. This space will change every two weeks, which is really the speed of online being reflected in physical retail.
The ground floor leads out to a garden at the back with a spacious patio surrounded with Australian tree ferns, lush planting and the higgledy-piggledy backs of this row of London townhouses and all the architectural quirks many years of alterations have produced.
Behind glossy, lipstick red doors and woodwork, two further floors house private shopping suites. These can be booked online and you can have items sent to be there waiting for you to try on when you arrive. The changing rooms - more like mini-suites - can be customised to the customers' Spotify accounts and look even more comfortable than the luxurious Connaught hotel opposite.
Upstairs in the attic is the café area and with its roof window feels like a nursery space Mary Poppins would be caring for the children. This is the most flexible floor and will host talks and different catering concepts plus the home of matchesfashion.com's new broadcasting suite and podcast centre.
The current café is Marchesi, the Prada-owned patisserie brand, to tie in with the retail downstairs. The next takeover is the Holiday Café followed by the vegan Maisie Café both from Paris.
Right - The first two floors are retail, currently showcasing an exclusive 120 piece collection from Prada
Highlights from the ‘What’s On’ event schedule for September and October - you can apply for the tickets online - include Theresa Wayman in an acoustic set, Mario Sorrenti book launch, Sarah Mower in conversation with Richard Quinn, a supper club with Australian chef Skye Gyngell and a Phillips preview of their ‘London Design’ auction.
The first impression of 5 Carlos Place is that it’s busy. Not just with people, but events and the energy of hosting so many talks, dining concepts and introducing new designers.
Left - The ground floor patio with garden
This is retail as inclusive members club and feels much livelier than their previous space. I’d be surprised if they can sustain this speed of turnover of retail spaces and events, but it’s exciting to see so much on the agenda.
This feels like online really spilling out into physical retail and understanding the reasons stylish people leave the house. They want to learn and experience as well as shop. London is the home of matchesfashion.com and it will be interesting to see whether this idea could be rolled out to other major centres like New York or Hong Kong.
This has been really well done, is in a great location and encapsulates the energy of a retailer really enjoying its standing in the luxury e-commerce sphere. I can’t wait to return and that’s exactly the point.
Nothing like an arctic blast to test your style mettle. TheChicGeek decided to face the 'Beast From The East', face-on, in a Nobis 'Heritage' parka. Nothing will stop TheChicGeek on his style quest to make the world of menswear a better and more refined place.
The primary red of the parka contrasts well against the white, wintry backdrop, and, like a style beacon, shines bright when teamed with other primary sportswear and accessorises. Add a pair of chic hiking boots and this beast has been well and truly beaten!
It seems there’s competition for Charles Jeffrey’s party crown. The young designer who gave us a gritty and sweaty club night presentation at the ICA and, last season, giant monsters running around the catwalk followed by a wave of dancers, isn’t the only one offering us a new interpretation of the London ‘Club Kid’.
At this afternoon’s MAN show, ‘Art School’ made its dramatic debut with a small collection that was big on personality and, despite really pushing the androgyny and drag of menswear, was a believable treat. Entitled ‘Queer Couture’, designers Eden Loweth & Tom Barratt, say it is ‘rooted in a cast who are emblems of trans defiance’ and ‘the unfolding narrative of a non binary paradise to be indulged in’.
Translated that means boys as girls and clothes moulded and designed around the wearer and not the usual conformist approach. Slutty Swarovski covered hooded mini dresses in scarlet red mixed with biased cut dresses and splits to the gusset. The only way of spotting the girls from the boys was to look at their legs.
Left & Right - Charles Jeffrey's 'Loverboy'
While exhibitionist, it felt real and believable. It could simply be the models’ conviction, but it felt more than that.
Charles Jeffrey’s first standalone ‘Loverboy’ show was an ‘orgy’ of ‘clothes made of dreams’. Labelled ‘Queer hedonism’, this time, it was a theatrical display that included a crocheted daisy thong and Elizabethan finery. Jeffrey has become a poster boy for this polysexual energy of the city’s young and while it’s caught their’s and our imagination, I can’t help but think it’s a shame there isn’t a bigger scene for all this go with. I’m thinking music and clubs, because, as we all know, this has been in decline for most of this century. Of course, there are pockets, especially in East London, but you feel like you need a New Romantic moment that resonates into wider society.
And, this brings me back to Jeffrey’s collection. While fun and entertaining, it felt more like costume and the clothes dictating the wearer. While the tailoring is there, Vivienne Westwood’s shadow was ever present, especially with the styling and Blackadder type Elizabeth I wigs.
It feels like he needs to go back to the club and think less about the show and spectacle of fashion week. There was too much going on and didn't feel as raw and as fresh as previous shows.
Left & Right - Art School
But one thing is for sure, London’s young is sandwich between high rents, student loans and low pay and need this. This is the generation where, while they have the freedom, they feel handicapped by the older generation and in a cultural landscaped that is being squeezed.
This is fashion that inspires the creative. It's time for a night of a escapism.
Fashionistos, clear your diary! As we stand on the eve of the new SS18 men’s show season be part of the excitement of London Fashion Week Men’s - LFWM - thanks to St James’s. Join TheChicGeek on Saturday, June 10th, as Jermyn Street is transformed into an al fresco catwalk.
The centre for London’s menswear for centuries, the St James’s area is steeped in history while still being one of the best contemporary men’s shopping areas in the world. Combine an afternoon of shopping with an inspirational see-now-buy-now catwalk show featuring some of the best British brands including Turnbull & Asser, John Smedley, Lock & Co and John Lobb as well as contemporary, newly arrived names including Paul & Shark, Jigsaw, Sunspel and Barbour International.
The two shows are at 1.30pm and 3.00pm and the tickets are free. You just need to register - here What are you waiting for? See you there!
Nearest Tube - Piccadilly Circus
Left & Right - Previous St James's presentations featuring the men's retailers within this prestigious area of Mayfair
If you can’t make either of the shows visitors will be able to drop into the shops of St James’s for a variety of special in-store activities such as a shirt cutting demonstration from a Master Shirt Cutter at Harvie & Hudson and complementary wet shaves at world renowned perfumery Floris. Jermyn Street will also play host to some of London’s best street food retailers all offering a bespoke St James’s menu, making sure the day will be a feast for all the senses.
London’s men’s fashion week got its Ronseal title, this season, replacing the old London Collections: Men moniker. The change didn’t make any difference to the lack of content and money, unfortunately, but, hopefully, it meant more to the wider public with many still not realising there even was a men’s fashion week in London.
Left - Daniel W Fletcher Presentation
London and Britain, is good at fashion, we’re good at menswear, we should celebrate it and this is the event to do that at. Twice a year, we come together, test the temperature of the industry and move forward in the way fashion always does. There will always be ups and downs and better and worse seasons, but ultimately it’s big business, from luxury to high-street, and we’re one of the best at it. Let’s champion that.
LFWM is just more pointless than previously, yet still necessary. It needs to be done, otherwise other cities will take the focus away from London and London needs to seen as a centre of ideas and fashion.
When we leave Europe, the British Fashion Council need to lobby the government for more funding for an industry that employs so many people and encourages people to visit and shop in the UK. If we’re going to build a successful post-European future we need to focus on areas we are good at. Creativity is one of those areas. Fashion links many of these together and is the energy and catalyst for newness.
When then pedestrianise Oxford Street, fashion weeks should move there into see-through marquees and become inclusive to those interested in it and bankrolling it on the pavements either side.
What’s the opposite to ‘having a moment’? Because this is what menswear is currently facing. It’s not solely a London problem, affecting all the main fashion cities, but as fashion is a business, when it needs to change and save money, things get cut.
There was lots of talk during LFWM about whether this would be the last one, but I think if it was going to disappear it would have done so this season. The doom and gloom of the last LC:M was replaced with an optimism that things can only get better and the acceptance that those big brands, now missing, are gone. It’s okay, nobody died.
This was a medicated fashion week. A fashion week on Prozac. Things weren’t as important as before, so it felt more democratic. The must-have tickets didn’t exist so people were more equal than ever. The have and have-nots of fashion weren’t as separate and it felt more inclusive and less frantic.
One of the problems I have it predictablity. Designers showing exactly what you think they’re going to show. They don’t move their collections on. I don’t expect a 180 u-turn every season, but as nobody is really buying anything anyway what do they have to lose? They just make you wonder why you turned up. A signature style is fine, but a designer known for tasteful newness will always excel.
Another, is this idea that fashion collections look a certain way. It’s all a bit graduate Fashion Scout, and was new sometime in the Thatcher era. The bong-bong-bong music and po-faced press releases suck the life out of the spectacle and the audience and has the bullshit detector on max. Fashion always needs its wanky, taking-itself-too-seriously label, I get that, but there’s only so much eye rolling one can do.
So, let’s think positive. When things hit rock bottom things can only go up. This half glass full attitude to men’s is what will keep it going. Those big brands disappearing will create room for something new: a vacuum for the future. The future is close, we just need to entertain ourselves until it arrives.
TheChicGeek is all about pink and green ATM. He's named it 'prawn cocktail & avocado', (you can see more here fresh from the catwalks of Milan) and it has a fun freshness that will see you right into the new year.
There is a lot of baby pink in menswear at the moment, thanks to Kanye and his Yeezy. Don't wear it in his Mad Max style, but team with primary colours, like here, such as blue and green.
Finish the look with quality accessories and plenty of peace & love!
Credits - Full look Paul Smith AW16
Shot by Robin Forster on Olympus PEN
More images & video below
The first day of LCM, London's men's fashion week, started. At the end of a long day TheChicGeek's thoughts about the menswear business at the moment and how we need to move away from 'Instagram' fashion and get back to the fundamentals of design.
From the frow to standing at the back! TheChicGeek was all over the recent menswear shows at London Collections: Men. Here are the trends that caught his eye:
Copper - That highlight orange has become slightly dirtier and more grown up.
From Far Left - Craig Green, Katie Eary, Hopman Design, Oliver Spencer
Grunge - Nobody’s ever made money from selling grunge, it’s kind of the point, no?
From Far Left - Topman Design, Burberry, J.W. Anderson
Neck Scarves - Double knot it for accessory impact.
Both Margaret Howell
Soft 70s Teddy Bear Hair - Layers, Bowl Cut, or simply ask for an 'Abigail's Party' next time you're at the barbers.
Below From Left - Lou Dalton, Burberry
Cropped Mid-Driff - Not since Mark Owen in the Relight My Fire Video have I been this excited about the male midriff. AW16's new, chilly erogenous zone!
From Far Left - Agi & Sam, Astrid Andersen
Inside Out Sheepskins - You could just turn last year's inside out, but it probably won't look as good!
From Far Left - Coach, James Long, 1205
Sequins - These were dress-down sequins on sportswear and simple tops.
Burberry, James Long
Silk - Menswear bedroom eyes with luxurious plain or printed silks in bedroom shapes.
Below - Katie Eary, Topman Design
Knightsbridge based department store, Harvey Nichols, has been busy excavating their basement. Long the home of their menswear offering, this cavernous yet claustrophobic space is, we are told, being completely made over ready for its unveiling in spring 2016.
Left - Harvey Nichols' new store in Birmingham which gives us the direction stylistically of the Knightsbridge store's new men's basement.
So, what’s new? I recently attended a presentation of theirs describing how the new spaces are going to look. Bye, bye shop-in-shops and branded concessions: long the bastion of mega-brands, physically claiming prime spots in-store to be replaced by easily changeable spaces and the mixing of brands.
I'd like to think of it as a more democratic form of shopping: allowing labels to speak to people solely on product alone without the pre-judgement of walking over to a branded section or the muscling out of smaller brands by placing them in the parts of the store these mega-brands don’t want.
The big brands won’t like this. They will sell less. There will now be an equal playing field between them and whichever new brands Harvey Nichols decide to stock. It also allows Harvey Nichols to drop brands faster, regardless of size, to keep pace with the speed of fashion and allowing new brands to bring excitement and interest into their physical store.
People are tired of seeing the same brands everywhere regardless of how expensive they are. It also allows a form of curation rather than simply a mini-mall of the same designer names which you can find the world over.
Harvey Nichols know they can’t compete with the likes of Harrods and Selfridges on menswear floor space, so, they are making theirs more flexible and less static. This is a very clever idea.
Right - More interiors from Harvey Nichols Birmingham. Let's hope London looks this good
In order to survive shops need to become destinations. They need to offer something you can’t find anywhere else: something new, fresh and inspiring. They also have to flow, both visibly and physically, and, ultimately, part time-poor people with their cash.
One of the more interesting ideas they have is putting all the same things together. So, white T-shirts, tuxedos etc., all at different price points, selected by Harvey Nichols, are together with the sales assistants explaining the differences between them all.
Fashion’s big names have long earnt their corners of the big stores, but they sell more and remain powerful because they have the best positions and are, therefore, stuck in a positive cycle which is very hard to break, making retail spaces look the same every time and everywhere. It all becomes quite predictable and menswear buyers and the retailers want something different and exciting while still retaining the spend.
Harvey Nichols is seeing this refresh as an opportunity to try something new. No doubt they’ll be some difficult discussions with brands, but I hope they hold their ground and give these ideas a chance to prove that the customer, now, buys into good product rather than brands. Menswear just got a level playing field!
Opening April 2016