Displaying items by tag: Calvin Klein

Friday, 27 May 2022 16:49

ChicGeek Comment Stand By Your Brand

stand by your brand celebrity fashion david gandyWhat makes a celebrity brand a ‘celebrity brand’? Does the celebrity have to live and breathe the brand, or can they discreetly linger in the background as a footnote of its ownership and still expect it to be successful?

Irish actor, Jamie Dornan, recently announced the launch of his new menswear brand, Eleven Eleven, to his 3 million Instagram followers. Receiving over 420K likes, the post featured snapshots of Dornan wearing the new basics-focussed menswear label with text saying, "I hate shopping and want all men to dress like me. So my mate and I have created a timeless capsule wardrobe over at @thisiseleven_eleven.

"Have a look and buy yourself/boyfriend/husband/lover/ex/brother/stranger something that he’ll always look good in. #thisiseleveneleven #capsulewardrobe”.

The mate in question, and fellow owner, is Jolyon Bohling, who has a background of launching celebrity and influencer brands. A marketing professional with 25 years’ experience, Bohling is the founder of ‘Group Seventy One' which “create and support brands from inception through design and production and onto D2C channels”.

Left - David Gandy wearing his own Wellwear brand

The Eleven Eleven brand currently has 11K followers on Instagram, but the brand doesn’t feature Dornan’s image anywhere on its channels or website. It is worth noting that Dornan started his career as a fashion model, even making it to the heady heights of being a scantily clad Calvin Klein underwear model.

Eleven Eleven states on its website, “Our aim is to make men’s staple products that last, that are thought through in design and detailing, that can be worn alone or together, that can be dressed up or down.

“Eleven Eleven was born out of having to visit many different shops to pull together our wardrobe basics. It was born out of a need to provide strong, interchangeable, simple colour palettes without costing the earth.”

The brand currently offers polo shirts for £45, long sleeve polos for £50, T-shirts for £30, pique shirts for £52, slim fit shirts for £75, chinos for £75 and jumpers for £85.

Confusingly, there are at least two other brands with the Eleven Eleven name. One is called 11.11 / ELEVEN ELEVEN and is sold at matchesfashion.com and another is called eleven eleven fashion. With his background in modelling and, clearly, a huge fan base, is it a mis-step for Dornan to not feature heavily in his new brand’s imagery?

When people buy into celebrity brands they are buying into that person’s image and style. Is it a mistake not to front the campaign and promote the brand yourself and stand by it?

Launching any fashion brand is hard right now, not taking this huge advantage feels like an error.

Recent celebrity brands to run into trouble include Alexa Chung’s namesake brand, which was recently wound up with a loss of more than £11million, Liam Gallagher’s Pretty Green which was sold to JD Sports in April 2019 after entering administration with reported debts of £18million and David Beckham’s Kent & Curwen which ceased trading in Nov. 2021. David Beckham bought a stake in the brand in 2016 through his Seven Global company and had ended his partnership with Kent & Curwen previously in April 2020.

Gallagher was rarely pictured wearing his indie-inspired label while Chung’s was priced considerably higher than most of her fan base could afford. For Chung it was difficult for her to remain the girl to watch in her late 30s, especially when the social scene had been completely shut down during Covid.

One recent celebrity launch with the name firmly in front of the camera is David Gandy’s Wellwear, “a world-first concept bringing apparel and well-being together in a lifestyle brand that fuses fashion, function and feeling based on the scientific benefits of wearing soft, comfortable clothing.”

The model told TheIndustry.fashion, “I have never been someone to just put my name or face to something then walk away. I have to believe in something and be fully immersed in the process; my collaborations with M&S and Aspinal are examples of this.” he says. “Starting my own label is one of the last big things I wanted to achieve in the fashion industry, and one that I knew would be incredibly hard to do, so knowledge and timing had to be just right.”

Gandy stars in and fronts his brand’s imagery and social media alongside other models.

“For me, it is a little different as I have come from the modelling world. This is what people have come to know me for, and the Wellwear team believed it’s what people still wanted to see while we are building our audience.” says Gandy. “But I didn’t want the brand to solely be about me. I wanted to use our Wellwear platform to give other upcoming talent the opportunity to be the face of the brand, and grow with us as we do. I want Wellwear to inspire all ages and demographics. Eventually, my vision is for them to take over all the campaigns and Wellwear to become its own entity, rather than always be linked to me visually.” he says.

What does Gandy think about other celebrity brands minus their celebrity’s image?

“It’s each to their own as there is not a right or a wrong way.” he says. “You can look at many top designers with their own brands i.e. Tom Ford or Ralph Lauren.  Sometimes they put themselves in the campaign and creative, and sometimes they don’t.

“You can still be the spokesperson, face and founder of a brand without having to be in the creative visually. The one advantage of founding your own brand is that you can make those decisions. But, have to remember if you get those decisions wrong, there is no blaming anyone else, that’s the responsibility you have.” he says.

It can be difficult for celebrities to 100% commit to wearing their own labels when they have lucrative contracts with other brands, but, wearing other labels often confuses consumers and questions how much input they have in their own label and how much they actually own of it. It’s like when A instead of his own label. It sent the message that his eponymous menswear was inferior or not good enough. If you have your own label why would you not make something you wanted to wear?

Discreet celebrity can work. One successful brand which has the celebrity founders firmly in the background is the super expensive, The Row. Almost cult-like in status, The Row was established in 2006 by twins Ashley Olsen and Mary-Kate Olsen and has stuck to its format of ultra-luxe, minimal fashion. The twins keep a rarefied distance and a nun-like silence around their label.

Another is Totême. Founded in 2014 by Swedish fashion blogger, fashion journalist, Elin Kling. She stays firmly in the background and has created a buzz with a clear point of view and design DNA.

Victoria Beckham on the other hand has found it difficult. She has tried to stay aloof, but has struggled. She started with the wrong categories. She should have followed Tom Ford’s lead and opened with beauty and sunglasses. You need to produce something people can buy into. She has recently reduced her prices by almost 40% by switching to simpler silhouettes and fewer embellished fabrics. The brand launched in 2008 with many consecutive years of no profits.

Other recent discreet celeb. brands to launch include Coldplay’s Guy Berryman’s ‘Applied Art Forms’, but he has less of a public image to put into the brand.

The undisputed queens of self-promotion are the Kardashians. Kim Kardashian launched her Skims label in September 2019 and it sold out in minutes. She has tapped into the expertise of Frame founder, Jens Grede, who has also partnered with her sister, Khloe with Good American. Kim K is happy to front the campaign for her shapewear brand and her image is now synonymous with the Skims brand.

Over in the UK, Trinny Woodall’s almost religious promotion of beauty brand ‘Trinny London’ has railroaded it into people’s consciousness. Starring in her campaigns, her almost QVC-like self-promotion has made a gross profit of £27.4million in the year to March 2021, a massive increase on the previous year's £8.5million. She understands the competitive nature of the beauty business and also the need to swear by your products.

Today, you need to be gratuitous in your promotion. American almost. British politeness won’t cut it. People need to be continually reminded you have a brand, you stand by your brand and you love your brand. You wouldn’t wear or use anything else. Without buying it, you are missing out, that should be the message, loud and proud.

Having a celebrity front a brand is a huge advantage. Them not wearing it or fronting the brand seems like a huge opportunity wasted, especially given the increased competitiveness of social media and direct to consumer selling.

It is rather difficult to sell a brand that you have backed if you are never seen in it. People want to know why and see it as a negative. Celebrities have to get involved. If you don’t wear the product, the signal is you don’t like it and why the hell would somebody else buy it?

Buy TheChicGeek's latest book FashionWankers - HERE

Check out TheChicGeek's new shop of fabulous plants & books - Give me Penis Cactus!

Published in Comment

men's jil sander colour block knit harvey nichols

There's a bit of a buzz around the Jil Sander label at the moment. The label has had more comebacks than Cher, so I usually reserve judgement until I actually see it in a store. Now under the umbrella of Diesel's Only The Brave fashion conglomerate since 2021 (They usually ruin most brands FYI), this jumper was in Harvey Nichols and I liked the strict nautical feeling that makes this feel like something from the '90s and, as such, timeless.

A simple, oversized knit will bold blocks of colour, it reminds me of what Raf Simons did at Calvin Klein not so long ago and feels clean yet designed. There's a movement towards simpler and cleaner styles of fashion, so team this with a plain trousers and simple leather shoes or trainers.

Left & Below - Jil Sander - Colour-blocked cotton-blend jumper - £900

Buy TheChicGeek's latest book FashionWankers - HERE

Check out TheChicGeek's new shop of fabulous plants & books - Give me Penis Cactus! 

men's jil sander colour block knit harvey nichols

Published in Men
Wednesday, 11 November 2020 16:05

ChicGeek Comment How The Jockstrap Went Mainstream

jockstrap goes mainstream Nike Calvin Klein Kust

When Nike released its first branded men’s jockstrap in the middle of October it was an instant sell out. Twitter went into a digital meltdown and demand was palpable. It was the perfect product at the perfect time and was a great debut for Nike’s new men’s underwear range.

Left - The Nike Jockstrap sold out on ASOS (Nov. 2020)

The year before, in April 2019, Nike and PVH Corp. announced a new licensing agreement to design and distribute Nike branded men’s underwear worldwide. It was a natural product category extension for the nearly $40 billion a year sportswear behemoth.

“We are incredibly proud to be working with Nike, as this is an opportunity for two great companies to build on each other’s strengths, making it a win-win for everyone, especially consumers,” PVH’s Cheryl Abel-Hodges, president of Calvin Klein North America and The Underwear Group, said in a statement at the time. It also said PVH Corp.’s The Underwear Group would expand its strong portfolio which includes Calvin Klein, Tommy Hilfiger, Olga, Warner’s and True & Co.

The men’s underwear category was ripe for a tie-up with a sportswear company and their expertise in technical support, cleaning and fabrics. The new Nike jockstrap was the debut product to make a digital splash while illustrating how this traditional sports style has hit the mainstream.

Troy Daniels, @justcantstahp, says, “Nike has a jock because Calvin Klein released a jock. Calvin Klein manufacturers the underwear for Nike. So the question is actually why did Calvin Klein release a jockstrap?” he says.

“It’s because a cadre of homosexuals who work at the European Corporate Office saw the trend of niche jockstrap manufacturers exploding (Exterface, Bristle, Coyote, Darkroom, Jock, Bad Butt, Gizeppe, etc.) and thought that the world’s most identifiable underwear brand would be remiss not to have a jockstrap in their underwear portfolio. So blame it on the gays.” he says.

jockstrap goes mainstream Nike Calvin Klein Kust

If the branded jockstrap at Calvin Klein hadn’t proven to be so popular, then PVH Corp. wouldn’t have pushed it as one of the first products of the new Nike license. They would have gone for something far safer. Add the huge trend of male exhibitionism, on some social media channels, and its opportunity to showcase branded underwear, and you have a huge marketing opportunity.

The jock straps roots are in sports. Wikipedia states, “The jockstrap was invented in 1874 by C. F. Bennett of a Chicago sporting goods company, Sharp & Smith, to provide comfort and support for bicycle jockeys working the cobblestone streets of Boston. In 1897 Bennett's newly formed Bike Web Company patented and began mass-producing the Bike Jockey Strap.”

Jane Garner Co-Founder of Deadgoodundies.com, an online retailer stocking the best international brands of men's underwear and swimwear, selling to customers in more than 80 countries, says, “Deadgoodundies has always stocked jockstraps. Early on designs were mostly cotton, sporty and practical, but in recent years sexy, colourful and uplifting fashion jocks have taken over and proved very popular. With DGU customers, the smaller the underwear the more popular it will be.”

Right - Polish underwear brand, Kust

Regarding the Nike launch, Garner says, “We love any brand launch that encourages men to discover and try new underwear shapes, styles and fabrics. Male shoppers are not always the most adventurous when it comes to men's underwear choices. If a guy starts wearing jockstraps as everyday underwear, rather than purely for sport or exercise, they will start to seek out the best, most comfortable and most carefully shaped designs.

“In mainstream fashion there has been a strong trend towards sporty clothing, so maybe the jockstrap's increasing popularity is part of that - not that too many men will be discussing their new undies as much as a pair of hot trainers.” she says.

The jockstrap definitely taps into the ever present sportswear category and as such is styled by many brands with trainers, caps and sports socks to illustrate this link.

Jakub Stachowiak, Founder & Owner of Kust, www.kuststore.com, a cult Polish underwear brand based in Sopot and specialising in modern and sustainable underwear, says “We do sell jockstraps. It was always one of the bestseller since we launched in 2018. Our version is minimalistic, with a wider waistband, inspired by retro aesthetic and what’s most important made of sustainable, organic cotton. We are targeting millennial + customer, who is looking for minimalistic, well designed and premium quality products.

“As the jockstraps’ origins are from sports, this is kind of matching for NIKE. Most of the brands now have a jockstrap in their offer. It has only been a few years since it became more gay and a fetish product rather than sport underwear. So it really depend how you present it in your offer.” says Stachowiak.

Versace and Armani already have jock straps in their range. For a product that is pure branding and combines sex and near nudity, it is being picked up by an increasingly younger group of male fans, particularly amongst gay men. The Nike jockstrap taps into this market while making a step into the mainstream.

Alex,@retr0fag, says, “I think that the Nike jockstrap is probably most popular amongst gay men. Jockstraps have become a staple fashion item in most gay men's underwear collection. Sportswear brands are fetishised by gay men, so it figures that a Nike jockstrap would sell very well with gay guys.”

He says, “I’m not sure why Nike would release it, whether it was a clever marketing strategy or just worked out well by chance. Exhibitionism on the internet has become quite a normal thing, with many guys posing in their underwear. And all the guys posing in their Nike jocks has heightened the appeal and made it a desirable fashion item.”

Alex P, @notorious_twub, says, “I think it’s a good idea from Nike, they’ve obviously analysed the jock market and have realised that they’re very popular with gay men. It’s a great idea as Nike’s already a pillar brand and I’m kind of surprised that it’s taken this long.

jockstrap goes mainstream Nike Calvin Klein Kust

It’s kind of putting this predominantly gay thing, which is fetishised, and bringing it to the main stream and taking the jockstrap back to its sporty origin. I’m not sure what their angle is, if it was meant to be seen as this revolutionary moment to bring jocks to the heterosexual male as a sexual look, or if it’s capitalising on a product we already know sells well and just using Nike’s brand popularity to boost sales. I feel that it’s great that a major brand are getting behind it. It’ll definitely cause some waves in the underwear industry.” he says.

Left - Men's underwear brand, Charlie by MZ, showing the connection between contemporary sportswear & the jockstrap

One thing is certain, men now knows that Nike does men’s underwear even if they're not ready for the jockstrap style . While women have had sophisticated and sexy underwear for many years, men haven’t, or have felt embarrassed about it showing off. It was a choice of boring, mundane styles or tacky, fetish type underwear. This is being readdressed by niche underwear brands, like Charlie by MZ, Kvrt Stvff and Kust, offering provocative yet cool imagery which proves to be cat nip on social media channels. The large license partners and brands have seen this and want in. They are tapping into this demand, particularly amongst young gay men.

The jock strap is an opportunity for a brand to make a splash online, but looking at Calvin Klein’s continual expansion of its jockstrap range, it must be selling. They also wouldn’t have risked producing a product for a new license partner that they didn’t think would sell well.

Thanks to social media, there is an increasing trend in demand for sexier underwear for men. By linking it back to sports will appeal to a broader range of guys. The jockstrap is now a must-have addition in any brand's underwear category. Expect brands like Tom Ford and adidas to follow.

BUY TheChicGeek's latest book - FASHIONWANKERS - HERE

Published in Comment
Friday, 16 October 2020 12:21

Can Raf Kickstart Prada to Growth?

can raf simons kickstart Prada to growth

When designer Raf Simons was announced as the new ‘co-creative director’, working alongside Miuccia Prada, at Prada, it was welcomed as a meeting of two intellectual fashion minds. His first show, SS21, shown last week in Milan, in a digital format, was a return to Prada’s minimalist carpeted and matching curtained 1990s aesthetic. It was the most anticipated show of the new womenswear season.

Left - Prada SS21

Prada has had a growth problem in recent years, so, will this new creative impetus make a difference to a luxury group that is in danger of being left behind within the luxury segment?

The Prada S.p.A. group owns the Prada, Miu Miu, Church’s and Car Shoe brands and produces and distributes luxury leather goods, footwear and apparel, benefitting from a supply chain which includes 22 owned industrial sites. It also operates in the food sector with Marchesi 1824 and in the eyewear and fragrance industries under licensing agreements. The group employs nearly 14,000 people and its products are sold in 70 countries worldwide through 641 directly operated stores as of December 31, 2019.

Prada has been trying to inject growth in recent years by reducing wholesale and discounting, but it is trailing its rivals. For example, Prada and Gucci were once neck and neck as brands, both creatively and financially. They were the juggernaut fashion phoenixes of the 1990s. When one was name checked, the other wasn’t far behind. What changed?

In the 12 months ended Dec. 31, 2019 revenues at Prada S.p.A. totalled €3.22 billion, up +2.7% compared with €3.14 billion in the same period a year earlier. Retail sales grew +4.1% to 2.63 billion euros. This is for the entire Prada Spa group which also includes Miu Miu, Church’s and Car Shoe.

amber valletta 1997 prada glen luchfordFor the same year, 2019, Gucci revenue was €9.63 billion, revenue climbed by +13.3% on a like-for-like basis (+16.2% reported) and operating income leapt by +19.8%. The brand now accounts for over 60% of it owner Kering's revenues.

Right - Prada 1997

All of Gucci’s growth stems from 2016 when it was comparable in size to Prada in terms of revenue. Over the past 4 years, Gucci has grown its revenues to be three times that of Prada. Admittedly, Gucci has had unusually meteoric growth, but the Prada brand has been pretty much flat over these past 4 years.

While the Prada share price, listed in Hong Kong, has increased recently, it has bobbed along the 24HKD- 35HKD range over the past 5 years. Its highs were back in 2013, when the stock hit around 75HKD. During the five years over which the share price declined, Prada’s earnings per share (EPS) dropped by 18% each year. The TSR (Total Shareholder Return) gives a more comprehensive picture of the return generated by a stock. In the case of Prada, it has a TSR of -23% for the last 5 years. While the Prada share price has struggled to rise, Kering’s and LVMH’s has soared.

can raf simons kickstart Prada to growth adidas

Prada is in that predicament where it is big, but isn’t quite big enough. It’s luxurious, but not luxurious enough and, while it was once a leader, it hasn’t produced much that has stuck in recent years. It felt like Miuccia Prada had checked out, creatively, of the brand years ago. The last show by Miuccia Prada, AW20, before Simons arrived, put the signature triangular logo centre stage and was its most commercial for years.

Above -  A sign of things to come? adidas Consortium + Prada Superstar 450 Leather Sneakers - £400 from MRPORTER.COM

In a statement up to June 30th 2020, Prada CEO, Patrizio Bertelli talks of ‘growth trajectory temporarily interrupted’ due to COVID 19. He said, “The first half of 2020 saw a temporary interruption of our growth trajectory which, in a situation of progressive control of the pandemic, we are confident will gradually resume from the second half of 2020, when our store network will again be fully operational. The excellent response of local consumers after the re-openings, confirms the desirability of our products and the strong relationship with our customers, which has been further strengthened by our continued focus on digital technology. The recent positive trends in all markets, combined with our solid balance sheet and financial position, allow us to look to the future with confidence today.”

On average, 40% of Prada’s retail network was closed from February to May 2020, reaching a peak of 70% in April. Its wholesale channel was heavily reduced, following the strategic decision taken in 2019 to strictly control all distribution channels to protect brand positioning and discounting. Prada said e-commerce had delivered triple-digit sales growth during and after the global lockdowns, while retail sales were down 32% and wholesale sales were down 71%.

Prada has seen double-digit sales growth since April in Mainland China, while South Korea and Taiwan, which didn’t experience store closures, showed a consistent double-digit trend throughout the period. Thanks to the contribution of these markets, the entire Asia Pacific region reported double-digit growth in June. The rest of the world was negative. In April 2020, Prada’s Board of Directors withdrew its recommendation to pay a dividend for 2019.

Prada’s difficulties during the COVID lockdowns aren’t unusual and will have been replicated by other luxury brands, but it doesn’t help its desirability and also the inability for Raf Simons’ new show to make an impact during this difficult time. According to the Business of Fashion, just 10,000 viewers tuned into the Prada Instagram live feed of the SS21 show and, according to analytics firm Tribe Dynamics, the show’s earned media value in the first 48 hours, an industry measure of third-party social media engagement, was 59 percent lower than the Spring/Summer 2020 show a year ago.

Many people have switched off from fashion, currently, and this will not have helped Prada make a splash with Simons’ collection. His first collection received warm reviews in a season without much competition. But, his return to the pared pack 90s Prada doesn’t answer the problem of growth. One good shoe is not enough, you need hundreds, and they need to roll over many seasons like the Gucci model. Gucci’s lack of seasons and huge choice of product shows how maximalism in fashion increases venues. Looks that have more accessories than a Christmas tree are going to generate more sales. More choice is the answer for growth. It also appeals to more customers.

can raf simons kickstart Prada to growth

Prada has followed this model too, previously. Prada only really started to make money and get bigger when it moved from mink trimmed nylon to colourful striped fox fur scarves and crystal embellished dresses in the noughties. When the ‘Pradasphere’ exhibit opened in Harrods in 2014 it illustrated what really sold to the contemporary Prada customer and it wasn’t minimalism. Minimalism hasn’t really made big money for any fashion business. Less isn’t more revenue.

Unfortunately for the brand, the planned Design Museum exhibition in London, planned for 2020, has been cancelled, which would have given it a boost. Details of a new collaboration between the Design Museum and Prada will be revealed in 2021.

Simons is a good designer and an influence, but his track record at Dior and Calvin Klein shows a limited understanding of what is commercial. When commercial, as illustrated with the collab with adidas above, it verges on the repetitive and boring.

Prada CEO, Bertelli’s relationships with past designers, such as Helmut Lang and Jil Sander, once owned by the Prada Group, was turbulent and Simons won’t hang around if the going gets tough (again).

Prada was once one of the world's coolest brands, but it didn’t innovate when the likes of Michael Kors started copying its famous saffiano leather. Simons is undoubtedly cool, but will he be enough for Prada to catch up with its rivals?

Buy TheChicGeek's new book FashionWankers - HERE

Published in News
Tuesday, 29 September 2020 15:18

Can Raf Kickstart Prada to Growth?

can raf simons kickstart Prada to growth

When designer Raf Simons was announced as the new ‘co-creative director’, working alongside Miuccia Prada, at Prada, it was welcomed as a meeting of two intellectual fashion minds. His first show, SS21, shown last week in Milan, in a digital format, was a return to Prada’s minimalist carpeted and matching curtained 1990s aesthetic. It was the most anticipated show of the new womenswear season.

Left - Prada SS21

Prada has had a growth problem in recent years, so, will this new creative impetus make a difference to a luxury group that is in danger of being left behind within the luxury segment?

The Prada S.p.A. group owns the Prada, Miu Miu, Church’s and Car Shoe brands and produces and distributes luxury leather goods, footwear and apparel, benefitting from a supply chain which includes 22 owned industrial sites. It also operates in the food sector with Marchesi 1824 and in the eyewear and fragrance industries under licensing agreements. The group employs nearly 14,000 people and its products are sold in 70 countries worldwide through 641 directly operated stores as of December 31, 2019.

Prada has been trying to inject growth in recent years by reducing wholesale and discounting, but it is trailing its rivals. For example, Prada and Gucci were once neck and neck as brands, both creatively and financially. They were the juggernaut fashion phoenixes of the 1990s. When one was name checked, the other wasn’t far behind. What changed?

In the 12 months ended Dec. 31, 2019 revenues at Prada S.p.A. totalled €3.22 billion, up +2.7% compared with €3.14 billion in the same period a year earlier. Retail sales grew +4.1% to 2.63 billion euros. This is for the entire Prada Spa group which also includes Miu Miu, Church’s and Car Shoe.

amber valletta 1997 prada glen luchfordFor the same year, 2019, Gucci revenue was €9.63 billion, revenue climbed by +13.3% on a like-for-like basis (+16.2% reported) and operating income leapt by +19.8%. The brand now accounts for over 60% of it owner Kering's revenues.

Right - Prada 1997

All of Gucci’s growth stems from 2016 when it was comparable in size to Prada in terms of revenue. Over the past 4 years, Gucci has grown its revenues to be three times that of Prada. Admittedly, Gucci has had unusually meteoric growth, but the Prada brand has been pretty much flat over these past 4 years.

While the Prada share price, listed in Hong Kong, has increased recently, it has bobbed along the 24HKD- 35HKD range over the past 5 years. Its highs were back in 2013, when the stock hit around 75HKD. During the five years over which the share price declined, Prada’s earnings per share (EPS) dropped by 18% each year. The TSR (Total Shareholder Return) gives a more comprehensive picture of the return generated by a stock. In the case of Prada, it has a TSR of -23% for the last 5 years. While the Prada share price has struggled to rise, Kering’s and LVMH’s has soared.

can raf simons kickstart Prada to growth adidas

Prada is in that predicament where it is big, but isn’t quite big enough. It’s luxurious, but not luxurious enough and, while it was once a leader, it hasn’t produced much that has stuck in recent years. It felt like Miuccia Prada had checked out, creatively, of the brand years ago. The last show by Miuccia Prada, AW20, before Simons arrived, put the signature triangular logo centre stage and was its most commercial for years.

Above -  A sign of things to come? adidas Consortium + Prada Superstar 450 Leather Sneakers - £400 from MRPORTER.COM

In a statement up to June 30th 2020, Prada CEO, Patrizio Bertelli talks of ‘growth trajectory temporarily interrupted’ due to COVID 19. He said, “The first half of 2020 saw a temporary interruption of our growth trajectory which, in a situation of progressive control of the pandemic, we are confident will gradually resume from the second half of 2020, when our store network will again be fully operational. The excellent response of local consumers after the re-openings, confirms the desirability of our products and the strong relationship with our customers, which has been further strengthened by our continued focus on digital technology. The recent positive trends in all markets, combined with our solid balance sheet and financial position, allow us to look to the future with confidence today.”

On average, 40% of Prada’s retail network was closed from February to May 2020, reaching a peak of 70% in April. Its wholesale channel was heavily reduced, following the strategic decision taken in 2019 to strictly control all distribution channels to protect brand positioning and discounting. Prada said e-commerce had delivered triple-digit sales growth during and after the global lockdowns, while retail sales were down 32% and wholesale sales were down 71%.

Prada has seen double-digit sales growth since April in Mainland China, while South Korea and Taiwan, which didn’t experience store closures, showed a consistent double-digit trend throughout the period. Thanks to the contribution of these markets, the entire Asia Pacific region reported double-digit growth in June. The rest of the world was negative. In April 2020, Prada’s Board of Directors withdrew its recommendation to pay a dividend for 2019.

Prada’s difficulties during the COVID lockdowns aren’t unusual and will have been replicated by other luxury brands, but it doesn’t help its desirability and also the inability for Raf Simons’ new show to make an impact during this difficult time. According to the Business of Fashion, just 10,000 viewers tuned into the Prada Instagram live feed of the SS21 show and, according to analytics firm Tribe Dynamics, the show’s earned media value in the first 48 hours, an industry measure of third-party social media engagement, was 59 percent lower than the Spring/Summer 2020 show a year ago.

Many people have switched off from fashion, currently, and this will not have helped Prada make a splash with Simons’ collection. His first collection received warm reviews in a season without much competition. But, his return to the pared pack 90s Prada doesn’t answer the problem of growth. One good shoe is not enough, you need hundreds, and they need to roll over many seasons like the Gucci model. Gucci’s lack of seasons and huge choice of product shows how maximalism in fashion increases venues. Looks that have more accessories than a Christmas tree are going to generate more sales. More choice is the answer for growth. It also appeals to more customers.

can raf simons kickstart Prada to growth

Prada has followed this model too, previously. Prada only really started to make money and get bigger when it moved from mink trimmed nylon to colourful striped fox fur scarves and crystal embellished dresses in the noughties. When the ‘Pradasphere’ exhibit opened in Harrods in 2014 it illustrated what really sold to the contemporary Prada customer and it wasn’t minimalism. Minimalism hasn’t really made big money for any fashion business. Less isn’t more revenue.

Unfortunately for the brand, the planned Design Museum exhibition in London, planned for 2020, has been cancelled, which would have given it a boost. Details of a new collaboration between the Design Museum and Prada will be revealed in 2021.

Simons is a good designer and an influence, but his track record at Dior and Calvin Klein shows a limited understanding of what is commercial. When commercial, as illustrated with the collab with adidas above, it verges on the repetitive and boring.

Prada CEO, Bertelli’s relationships with past designers, such as Helmut Lang and Jil Sander, once owned by the Prada Group, was turbulent and Simons won’t hang around if the going gets tough (again).

Prada was once one of the world's coolest brands, but it didn’t innovate when the likes of Michael Kors started copying its famous saffiano leather. Simons is undoubtedly cool, but will he be enough for Prada to catch up with its rivals?

Buy TheChicGeek's new book FashionWankers - HERE

Published in Fashion
Tuesday, 01 January 2019 12:58

2018 The Year of the “ReBland”

reblanding Burberry logoAt the end of a tumultuous year for traditional retail, and at the start of another, which doesn’t appear to offer much respite, there’s been a distinct trend in rebranding for both luxury and high-street brands. While you’d expect them to want to stand out, it seems as though they all want to blend into one another. This homogenisation is a case of an expensive “reblanding” exercise. Rebranding means creating a different identity for a brand, from its competitors, in the market, which, in fashion, is even more important especially when you're trying to flog luxury goods and the idea of difference and individuality. This feels like the opposite.

The recent rebland list is long: Belstaff, Celine, Calvin Klein, John Lewis, Burberry, Berluti and Balmain have all gone for simple and bolded logos without any of the details and distinct serifs. Playing it safe, what these new logos and fonts say is a lack of confidence and often change for change’s sake.

Left - The recent logo "reblands"

In August, Burberry unveiled its new logo. Replacing the Burberry Equestrian Knight logo with its bespoke Bodoni font, which had been used by the clothing company since 1901, the new logo is the work of celebrated British graphic designer, Peter Saville. It’s also worth noting he rebranded Calvin Klein with a similar font when Raf Simons took over and wanted to refresh.

reblanding Burberry logo

"The new logotype is a complete step-change, an identity that taps into the heritage of the company in a way that suggests the twenty-first-century cultural coordinates of what Burberry could be," Saville exclusively told Dezeen. Somewhat cryptic and full of marketing speak, he describes what he and Riccardo Tisci, the new Burberry Creative Director, settled on as “modern utility,” adding, “It looks like it’s been there forever, but it’s still contemporary.”

Right - Hedi's masterstroke?!

Tisci said on Instagram ‘Peter is one of our generation’s greatest design geniuses. I’m so happy to have collaborated together to reimagine the new visual language for the house.’

Burberry are in the throes of changing everything way before the new Creative Director’s impact has been proven. As his first collection hits stores to a rather muted response by the fashion press, it’ll be interesting to see how it sells, especially the items with this new logo on.

Seb Law, Fashion Copywriter & Journalist, says, “I really hate that they’ve added’ ENGLAND’ to the Burberry logo after London. As if it’s London, Texas or something.”

It “Seems like an attempt to look ‘international’ and more premium, but also it’s now becoming an established way of a new designer starting at a different house to mark the start of their chapter. Does the general consumer care about this, or is it dive behaviour? Also rebrands cause plenty of chatter in fashion circles and build publicity – see Hedi’s previous rebrand of SLP. All press is good press, apparently.” says Law.

Hedi Slimane is a designer who likes to put his mark onto a brand and in September it was announced that the French house, Celine would be, controversially, losing its accent. Law and others have been defacing the brand’s posters by returning the accent to the first e.

“For me, it’s a matter of good use of language. As a copywriter and journalist (with a degree in French), diacritics aren’t just a pretty typographic tool to be played around with at the will of a designer, they’re an integral part of the word.” says Law. “‘Celine’ and ‘Céline’ are different words, pronounced differently (‘sell-een’ and ‘say-lean’, respectively).  he says.

reblanding Burberry logo Celine Hedi Slimane

“It’s a continuation of the cult of personality over brand, in both cases. Causing a splash, in whatever way possible, seems to be the aim of the game. With Burberry, I’m disappointed that the logo doesn’t have a more uniquely British feeling, which the old one did IMO – I do love the interlocking TB print though.” says Law. “With Céline, it’s a classic case of Hedi doing whatever he wants. Brands should be aiming to exercise their unique personalities; this uniqueness is what attracts customers and maintains a brand’s personality. Homogenisation might attract sales, at least initially, and while change is obviously necessary, and often good, these two rebrand exercises feel like they’re a bit half-arsed. They’ve succeeded at building publicity, but is that what a logo redesign should do?” he says.

Left - The new logos are all very similar

On the high-street, John Lewis, in September, rebranded as John Lewis & Partners at a reported cost of £10m. Its first rebrand in 18 years and inspired by the company's 1960s "diamond pattern" motif, John Lewis managed to not only complicate its name but also lose its trademark dark green. Opting for safe black, it was yet another example of this reblanding trend.

In an age when these brands should really be trying to expressive confidence in themselves, these boring logos show a striving for safety and an anti-criticism blandness. It’s hard to be critical and negative about something so simple, yet they aren’t memorable or standing out. These aren't utility companies. Fashion’s current love of the sans-serif is definitely missing something.

Published in Fashion
Tuesday, 25 September 2018 15:05

How To Wear Denim Jeans AW18

How to wear denim WranglerThe seeds of denim’s comeback are being sown. Thanks to Raf Simons’ Calvin Klein and his new uptight form of denim, we have a new way to see and wear it.

Left - Wrangler AW18

How to wear denim Calvin Klein jeans

Bin those skinny jeans and buy yourself a denim shirt with contrasting front pockets, a roll neck and a denim jacket. This is 1970s cowboy in mid-winter.

Right - Calvin Klein AW18

 

The new AW18 campaign from Wrangler perfectly illustrates this. Brokeback at the top of the mountain, you could say, this all-American, retro look is all about layering relaxed shapes. Denim or corduroy jackets over jeans, check shirts and lightweight roll necks give this cowboy a romantic and wild edge. Think more North Carolina than North Acton.
Just don’t look like it’s your first time at the rodeo!

How to wear denim Calvin Klein jeansLeft - Calvin Klein SS18

Below - Wrangler AW18

How to wear denim Wrangler

Get more inspiration in the video below. The video reminds me of the 1980s cult in Netflix's Wild Wild Country - here

 

Published in How To
Monday, 13 August 2018 15:58

Menswear Trends Balaclavas

Men's fashion trends balaclava Calvin Klein

Once the preserve of bank robbers and Mexican wrestlers, the balaclava is AW18's biggest headwear - or should that be facewear? - trend. Seen on the catwalks of Calvin Klein and Gucci, the balaclava is a literal disguise from the cold weather.

Left - Calvin Klein 205W39NYC AW18

Right - Calvin Klein 205W39NYC - Striped Wool Knit Balaclava £232 from luisaviaroma.com

Men's fashion trends balaclava Calvin Klein

The name comes from their use at the Battle of Balaclava during the Crimean War, referring to the town near Sevastopol in the Crimea. British troops wore them to keep warm.

The designer brands have produced their own versions, as seen in their latest ad. campaigns, but you could easily pick a cheaper one up on Ebay or find somebody's grandmother to knit you one. Go bright and fun. You don't want to scare anybody.

Men's fashion trends balaclava Calvin KleinAn item of clothing that only shows your eyes? Now, what would Boris Johnson say?!

Left - Calvin Klein 205W39NYC AW18 catwalk

Below - Knitting Patten

Right - Gucci - Mirrored GG Jacquard Wool Balaclava - £175

Men's fashion trends balaclava Calvin Klein

 

Men's fashion trends balaclava Calvin Klein

Men's fashion trends balaclava Calvin Klein

Men's fashion trends balaclava Calvin Klein

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Left - Mexican wrestler inspiration

Above - Gucci AW18 advertising campaign

Published in Fashion
Friday, 03 August 2018 16:13

First Look Tom Ford Underwear

Tom Ford Underwear

Tom Ford is a clever man. Starting with two of the highest margins categories in fashion - eyewear & beauty - he founded his eponymous company. Fast forward 13 years and he’s developed money-maker after money-maker. Suits, followed by trainers and then jeans, all added to his ballooning business. 

Left - Tom Ford debuted his new underwear range during his February AW18 catwalk show in New York

The last big fashion category untouched by the Texan’s magic was underwear. But, no more. 

What debuted in his show in February catwalk show in New York was a bit underwhelming. Think Yeezy uncooked sausage coloured trunks; a world away from the sexy, see-through briefs Ford produced when at the helm of Gucci. Calvin Klein could still sleep easy at night, or so I thought. But, looking at the news from British GQ, it looks like they’re more standard tighty-whities, albeit with a velvet waistband. They’re also cheaper than I thought at £55. (I know, it's still a lot for a pair of white pants).

For a man who famously dresses commando, the big question is, will be practise what he preaches?

Below - Briefs by Tom Ford - £55

Tom Ford Underwear

Published in Fashion

Book review Saturday Night Fever Pitch Simon Doonan Footbal Fashion

Being British, there is no escaping football, and in turn, footballers. On the back pages, the front pages and every page in-between, these spoilt young men are entertainment, both on and off the field.

The new book ‘Saturday Night Fever Pitch’ by Simon Doonan - The Magic and Madness of Football Style - is a celebration of the beautiful game through the lens of fashion. 

Left - Cover of Saturday Night Fever Pitch. More disco balls than 'Golden Balls'!

‘I love nothing more than to contemplate Andy Carroll’s man bun. Where others see reasons for mockery – a swishy sarong, a bleached mohawk, a camo-painted Bentley – I see mysterious self-disclosure, creativity, swagger and style. This is the lens through which I view the world of footie. I am, therefore, less ‘Fever Pitch’ and more ‘Saturday Night Fever Pitch’.

Who knew that Simon Doonan, Creative Ambassador for Barneys New York, would be such a football fan? But, then I suppose it’s all part our new understanding and inclusive society! 

Book review Saturday Night Fever Pitch Simon Doonan Footbal Fashion George Best

Footballers combined with fashion is like watching a car crash: you can’t take your eyes off a bad one. But, they have the income to make even the most expensive things disposable - unfortunately, the terrible tattoos are relatively permanent.

What they do influences, for better or worse. Just look at the recent furore regarding the gun tattoo England player Raheem Sterling had on his leg. These guys are young, the world is at their feet, quite literally, and they have hundreds of thousands of pounds in their pockets. They won’t get it right every time. Would you?

Right - Still the king of 20th century footballer style - George Best

This book looks back at footballers and their shopping habits from before the maximum wage cap was lifted and through the decades up until the present day. A couple of things are missing from the book - Freddie Ljungberg in his Calvin Kleins and that terrible cross-eyed sculpture of Ronaldo’s head!

There are plenty of LOLS at the Wags, managers, cars and hair styles. It would have been good to see a best and worst dressed list, but I suppose it’s all subjective and changes through time. 

David Beckham and George Best are the pillars in the book, but it’s worth picking up just to see Victoria Beckham in her 2006 Baden Baden Wag phase of perma-tan and pneumatic tits. Though she’s changed, many women will be taking this look to the grave.

It’s interesting to read that Paul Smith helped George Best with his fashion boutiques in the 1970s and even helped decorate that modern house he had built. The bath was so big George never used it because it took so long to fill.

Book review Saturday Night Fever Pitch Simon Doonan Footbal Fashion

This is a fun romp through the silliness of footballers and how they spend their money. Some of the headings are a bit cheesy and tabloidy, but that’s, I guess, part of the fun. I don’t think the title is as humorous as Doonan thinks because football and fashion doesn’t need any help in upping the campery. 

Left - Mike Summerbee of Man City with the precursor of the car CD player, 1967

This would be a good gift for any guy interested in contemporary culture, not just football or fashion. Now, where would Dolce & Gabbana and ripped jeans be without all those footballers?!

Saturday Night Fever Pitch: The Magic and Madness of Football Style, by Simon Doonan, published by Laurence King - £19.99 

Like men's style books? Read TheChicGeek review of House of Nutter by Lance Richardson

Published in Fashion
Page 1 of 3

Advertisement