Displaying items by tag: Prada

Tuesday, 26 October 2021 14:38

Menswear Product Of The Week The Pouch Glove

Prada pouch glove orange raf simonsRaf Simons at Prada is basically Raf Simons, but with a triangular logo. While he delivered for his debut menswear collection for Prada, - the fans seemed to be happy - the most memorable items were the coloured leather gloves with an annoying little pouch on the back of the hand which you'll never be able to access easily. Costing £850 you'll have nothing left to put in the pouch anyway! Could it be perfect for the back-of-the-hand Oyster entry onto the Underground?

Below - Prada - Zipped-Pouch Gloves in Orange - £850 from LN-CC

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Prada pouch glove orange raf simons

Published in Men
Tuesday, 26 October 2021 13:12

Trend - Bright Tartan

Timothee Chalamet in Prada GQ tartan coatEverybody loves tartan, well, they should do. The brighter the better in our books.

Bright tartans are nothing new, historically, the Victorians loved going bold with their family checks. Regardless of your clan, think strong clashing colours, especially in your outerwear and accessories.

And, you can always wear more than one at a time, just look at the Johnstons of Elgin 'Clash of the Clans' scarf below. The Gloverall Lochcarron coat is womenswear, but would fit and look good on anybody. Check it all out.

TheChicGeekxx

Left - Man of the moment, Timothée Chalamet in GQ wearing Prada

Below - Prada - Tartan wool overcoat - £2700 from Matchesfashion.com

Prada tartan coat men's matchesfashion.com

 

 

 

 

 

 

 

 

 

 

 

 

Molly Goddard menswear tartan trousers SSENSELeft - Molly Goddard - Red Tartan Franko Trousers - £865 from SSENSE

gant check tartan jacket menswearLeft - GANT - Glen Check Crest Blazer - £450

Below - Gloverall - Lochcarron Eva Peacoat Dark Stewart - £595

Gloverall Lochcarron dark stewart tartan coat 

Johnstons of elgin clash clans scarf

 

 

 

 

 

 

 

 

 

 

 

Left -Johnstons of Elgin - ‘Clash of the Clans’ Cashmere Scarf - Stewart & Macfadyen - £199

Burlington tartan socksLeft - Burlington - Heritage Check Men Socks - £13

ASOS DESIGN tartan brown suitLeft - ASOS DESIGN - Wide Leg Suit Trousers in Brown Tartan - £40.00, Suit Jacket - £90

 

 

 

 

 

 

 

 

 

Burberry tartan check bagLeft - Burberry - Small Check Cashmere Crossbody Bag - £890

scotch soda tartan trousersLeft - Scotch & Soda - Mott Super Slim-Fit Chino - £150 

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Published in Men
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, 27 August 2019 13:31

ChicGeek Comment Fashion Pact Mañana

Fashion Pact G7 Pinault FrancoisA large bulk of the fashion industry is feeling pretty smug with itself. The just-gone G7 summit in Biarritz, France, a meeting of the world’s largest economies, saw French President Emmanuel Macron, accompanied by Economy and Finance Minister, Bruno Le Maire, Minister of Labour, Muriel Pénicaud, and Deputy Minister of Ecological and Solidary Transition, Brune Poirson, launch the ‘Fashion Pact’. An initiative to minimise the environmental impact of the fashion industry, the Fashion Pact, signed by various fashion companies and brands, made numerous commitments regarding sustainability, renewable energy and biodiversity.

Left - Tall glass of Pinault?! The 'Fashion Pact' launch at the recent G7 summit

Making plenty of noise, and, while anything in the right direction, particularly while the Amazon rainforest is burning, is welcome, it’s worth looking at some of the detail.

Thirty two companies representing around 150 brands and roughly 30% of the fashion industry committed to:

“100% renewable energy across own operations with the ambition to incentivise implementation of renewables in all high impact manufacturing processes along the entire supply chain by 2030.”

“Protect the oceans: by reducing the fashion industry’s negative impact on the world’s oceans through practical initiatives, such as gradually removing the usage of single-use plastics.”

“Restore biodiversity: by achieving objectives that use Science-Based Targets to restore natural ecosystems and protect species.”

“Stop global warming: by creating and deploying an action plan for achieving the objective of zero greenhouse gas emissions by 2050, in order to keep global warming below a 1.5°C pathway between now and 2100.”

These all feel like the least they can do. Words like ‘gradually’ and ‘ambition’ make most of this wishful thinking. But, waiting until 2050 to achieve zero greenhouse gas emissions is laughable. Most of the signatories will be dead by then. It’s 31 years away!!! Who’s to say any of these companies will still be in business?

We live in a very stressful and confusing time. Environmental paralysis is understandable amongst consumers not sure exactly what they can do to combat climate change. But, waiting until 2050 to ‘possibly’ make that new handbag zero carbon emissions ain’t one of them. Green lip service is becoming increasingly frustrating and brands are going to have to give definite and distinct decisions while updating consumers on progress and fact based information much faster than this. People want to see something.

The brands involved include adidas, Bestseller, Burberry, Capri Holding Limited, Carrefour, Chanel, Ermenegildo Zegna, Everybody & Everyone, Fashion3, Fung Group, Galeries Lafayette, Gap Inc, Giorgio Armani, H&M Group, Hermès, Inditex, Karl Lagerfeld, Kering, La Redoute, matchesfashion.com, Moncler, Nike, Nordstrom, Prada Group, Puma, PVH Corp., Ralph Lauren, Ruyi, Salvatore Ferragamo, Selfridges Group, Stella McCartney and Tapestry.

In April 2019, ahead of the G7 meeting, Emmanuel Macron gave François-Henri Pinault, Chairman and Chief Executive Officer of Kering, a mission to bring together the leading players in fashion and textile, with the aim of setting practical objectives for reducing the environmental impact of their industry. And the Fashion Pact was born.

This goes someway to explain the most noticable luxury absentee from the list, the LVMH group. LVMH, Kering's main luxury competition, announced in May that it was partnering with Unesco on a five-year deal, allowing the fashion houses in the group access to “a network of experts at the regional level and in different disciplines to drive the development and success of their initiatives to protect biodiversity” and secure transparent supply chains. They’ve also recently cemented a tie-up with British designer Stella McCartney to lead their charge in sustainable luxury.

The majority of these brands don’t know what the eco-future looks like, but they know they need to start making the right noises yet want to continue to generate billions of dollars in yearly turnovers. Signing up to things like the ‘Fashion Pact’ focuses minds, but the time frame makes it a case of we’ll start tomorrow, which goes against the current urgent 'Climate Emergency' feeling felt within the wider population.

Kering issued a statement saying, “Private companies, working alongside nation states, have an essential role to play in protecting the planet. With the Fashion Pact, some leading players in the fashion and textile sector are joining forces for the first time to launch an unprecedented movement. A collective endeavour by its nature, the Fashion Pact is open to any company that wants to help to fundamentally transform the practices of the fashion and textile industry, and to meet the environmental challenges of our century.”

If these luxury companies worked as quickly as they did when chucking money at Notre-Dame, after its fire, then we’d really be getting somewhere. Pinault found €100m (£90m) down the back of the sofa and the Arnault family stumped up €200m within hours of the flames being put out.

Governments will need to bring in legislation much sooner to force these companies to do more. We’re going to look back at this period of history and wonder how we got through it sanely, but what we know is, we have to start today.

Published in Fashion
Wednesday, 26 June 2019 17:11

ChicGeekComment Fashion’s Flying Shame

Swedish flying shame flygskam Greta ThunbergKicking off the recent round of SS20 men’s fashion weeks the luxury Italian giant, Prada, opted to show its men’s collection in Shanghai rather than Milan and Saint Laurent chose Malibu, California instead of Paris. The light-tactic Eiffel Tower was replaced by palm trees and Keanu Reeves - very Point Break - as the male models took to a catwalk that followed the lapping waves of the Pacific ocean.

These trips to far flung destinations, under the pretence of targeting that geographical audience, had become something of a signature of women’s Cruise shows over the past few years. A distraction from the rather boring clothes, brands such as Louis Vuitton, Dior and Chanel scoured the globe for the most glamourous and social media friendly backdrops and flew the fash-pack on one giant jolly in-between the usually rigid calendar of traditional global fashion weeks. 

Left - Greta Thunberg, 2019's environmental superhero

Taking a brand and its audience to locations not usually set up for fashion’s extravagance is expensive and indulgent, not to mention costly to the environment. These people won’t be travelling economy. Add everybody from the brand, the models, the buyers and the press and the numbers start to drastically stack up and those carbon emissions multiple. 

It seems to go against everything fashion is trying to be at the moment. Fashion is trying to show its less wasteful side and is jumping on the sustainable ‘we-really-care-you-know’ bandwagon and it will be interesting how they will be able to justify these types of extravagant shows in the future. Admittedly, there’s always been travel in fashion, and getting people to see things in one place is an important part of fashion, but it’s this travel for travel’s sake that seems to feel out of step.

The Scandinavians have lead the way on this and Sweden’s ‘flygskam’, or flight shame, movement first came to prominence in the summer of 2017 when the singer-songwriter Staffan Lindberg wrote an article co-signed by five of his famous friends, in which they announced their decision to give up flying. Among the famous Swedes opting for other forms of transport were ski commentator Björn Ferry, who said last year he would only travel to competitions by train, opera-singer Malena Ernman (the mother of climate activist Greta Thunberg), and Heidi Andersson, the eleven-times world champion arm-wrestler. Finland has spawned its own version of the expression, calling it ‘lentohapea’. 

When the 16-year old Greta Thunberg joined London’s ‘Extinction Rebellion’ protest this Spring she took the train. She also travelled by rail to the World Economic Forum in Davos and the climate summit in Katowice, Poland.

This Swedish trend is having an impact. Passenger numbers at Sweden’s 10 busiest airports fell 8% from January to April this year, following a 3% fall in 2018, according to Swedavia, which operates them. 

A survey by the World Wildlife Fund found 23% of Swedes have abstained from traveling by air in the past year to reduce their climate impact, up 6 percentage points from a year earlier. New words entering the Swedish language include ‘tagskryt’ (train bragging) and ‘smygflyga,’ or fly in secret, to describe those not quite over their budget airline addiction.

People are choosing to take the train for environmental reasons. The stats are clear with trains drastically reducing the levels of CO2 emissions. The average CO2 emissions of 285 grams per air kilometre, compare with 158 for cars and 14 for trains.

Researchers at Chalmers University of Technology in Gothenburg, in 2018, found that Swedes' per capita emissions from flying between 1990 and 2017 were five times the global average. Emissions from Swedes' international air travel have soared 61 per cent since 1990, the study said. 

The number of journeys on Sweden’s national rail network increased by 5% last year and 8% in the first quarter of this year, according to Swedish Railways. Sales of Interrail tickets to Swedes increased by 45% in 2018 – and are expected to rise again this year.  Passenger numbers at state train operator SJ jumped to a record 32 million in 2018 due to “the big interest in climate-smart travel,” they said.

Consumers are demanding that companies and brands lead by example. Klarna, the giant Swedish payment provider, has decided to have its global kick-off in Berlin for the year with all attendees travelling by train. 

The budget airlines will be watching this trend, seeing whether it spreads beyond Scandinavia, is not it is lip service and whether younger people will really give up those cheap get aways for staycations or longer train journeys.

Fashion brands will start to acknowledge this trend and reduce unnecessary travel. I predict brands will start to do more things virtually and online. 

While, in the UK, the Eurostar has made travelling by train cool - they’ve just added their third daily departure to Amsterdam - the rest of the British rolling stock is more hit and miss to say the least. While many people are trying to stop Britain’s second high-speed rail line, HS2, it could be the environmental argument that pushes it through to the end.

Time is money and with planes being faster, more direct and often cheaper, it’s going to take a seismic shift and a mental rethink to get everybody to feel the flying shame and get onboard - quite literally - with this new trend.

Published in Fashion
Tuesday, 18 June 2019 11:23

ChicGeek Comment The Wholesale Power Play

the luxury wholesale model is broken PradaThe idea of paying to have something made, passing it on to someone else to sell, who will then pay you in a few month’s time, sounds like the cashflow diagram from hell. Unless the profit margins are huge, and even then it’s not ideal, wholesaling in fashion is difficult. Small brands, especially, need the constant stream of cash, traditionally have tighter margins, and need the crucial feedback of information with regards to successful products that can inform future decisions and where to put their limited resources. 

The fashion wholesale model is broken and, now, even the big boys are deciding to step back. Luxury brands are also realising, finally, that the true value of selling directly to consumers is growing a database of customers and understanding exactly what they want in a shorter amount of time and being more reactive to those needs. Realising something is or isn’t selling in 3 to 6 month’s time is pointless and is what will suffocate even the biggest of brands. 

Many luxury brands sat back and twiddled their thumbs over the past two decades while huge fashion corporations like YOOX/Net-A-Porter and MatchesFashion.com have grown with enviable customer lists and used huge amounts of information to improve their offer and grow further.

Now, the wholesale middle man is being pushed back to a point where brands want more control, know they will make more money directly and won’t be at the whims of a fashion buyer every season as to whether they’ve made the cut or not. 

Prada announced last month that is would reduce its wholesale network in Italy and Europe in a push to have uniform prices for its products across different outlets and reduce markdowns. Before that, in March, the Milan-based company said it also would stop offering end-of-season promotions at its own shops in a bid to boost margins and protect its brand. They’ve obviously been watching the success of Gucci’s no-sale model and product that continues over seasons and doesn’t seem to quickly date.

In a short filing with the Hong Kong stock exchange, where the company is listed, the company's chairman Carlo Mazzi stated, “The Prada Group considers it essential to ensure greater consistency in pricing policies across retail and digital channels. This strategic review is intended to further strengthen the Prada Group brands with the aim of supporting sustainable long-term growth.”

Prada said it would end relations with some Italian and European wholesale partners and gradually replace them with new digital and e-commerce players. 

While they’ve tried to improve their website, added a broader selection and launched onto sites like Mr Porter, Prada is doing it at a time when the brand has lost momentum and isn’t quite as in demand as it once was. It said the leather goods category will be the most impacted with the changes and this is their biggest segment with the greatest margins.

This DTC (Direct To Consumer) approach is something born from the internet and social media. The brand owns the customer and has a direct relationship. It knows their e-mail and address. It also knows what they have bought before and, most likely, things that may interest them in the future. As personalisation increasingly becomes more sophisticated, this will also help to offer more choices and brands can follow their customers through their actions.

Physical retail third party wholesale accounts allow you less control and inject potential disruption in your cherished luxury supply chain to the customer and, as Prada says, you can keep the prices constant and consistent (probably higher) throughout one geographical region.

Kering, owner of Gucci, Saint Laurent and Balenciaga, has announced it will take back control of its e-commerce operations, focusing on own branded sites where it can control its image and client data. Excluding Gucci, the YOOX/Net-A-Porter group operated e-commerce websites for most of the brands within the Kering group. The joint venture will now end in the second quarter of 2020. While not completely cutting off their nose to spite their face, Kering wants to turn more of its collaborations with third-party, multi-brand retailers such as Farfetch or Matchesfashion.com into what it calls ‘online concessions’, where it controls everything from the product assortment to their presentation. "Each time we move from wholesale to a concession we see our top line increase in a material way,” said Grégory Boutté, Kering’s Chief Client & Digital Officer, and former vice President of eBay. Kering has stated it was ‘not against wholesale,’ and did not plan to end its relationships with third parties altogether.

This is will be a play of power and something that I think will be difficult especially with the complexities of something like FarFetch coming from multiple retailers in different locations. This sounds like wanting your cake and eating it; we want your database, but in our own way. I’m not sure that many retailers will relinquish that amount of control, especially when you consider how many brands they sell and also the loyalty they now instil in these hard won customers.

Kering's total online sales — when including the business done through third party platforms, calculated at retail and not at lower wholesale prices — came to 9.4 percent of the group's 2018 revenue. Web sales through its own brand websites and online concessions made up 4.7 percent of revenue. This has huge room to grow.

Boutté has built up his digital team from 4 people upon his arrival at Kering in 2017 to over 80 people, today. He has realised the power of data. “The more data we have, the more precise our algorithm is and the better the experience is. The other thing is that it should lead us to excellence in terms of our operations.” he said.

Across the luxury goods industry as a whole, e-commerce accounts for around 10 percent of business today and should reach 25 percent of sales by 2025, consultancy Bain estimates.

This is about information and control. Controlling discount, controlling points of sale and controlling presentation. You can control more online, even with third parties. You can see it from anywhere. It's those pockets of physical wholesale boutiques or department stores in small towns that are harder to police and often unsold stock disappears into the grey market and ends up on discount sites and with other retailers.

Where once luxury retailers didn’t want to get their hands dirty, they are now rolling up their sleeves and have their eyes on the online prize; higher prices, more full price sell-throughs and control of that all important ‘data’. This will get more ferocious as the market becomes more saturated, growth slows and customers get increasingly more expensive to acquire. 

I predict many brands will try to be exclusive to their mono-brand websites if they don’t get what they want with their third party partners, or possibly try the LVMH 24 Sèvres, now rebranded as 24S, route, but it will be hard. And expensive. 

Retailers like FarFetch and MatchesFashion.com are decades ahead and thrive on new and small designers adding that colour and point of difference online. Luxury mono-brand websites often look boring, sterile and empty. People don’t shop in single brands, particularly when they are browsing. While the idea is logical and makes sense to reduce wholesale and take back more control, it will be far more complicated than that and add multiple costs to their business models.

Published in Fashion
Wednesday, 05 June 2019 13:14

Menswear Trend Summer Roll Neck

menswear trends fashion summer roll necks prada

menswear trends fashion summer roll necks pradaThe roll neck became something of a winter go to for the man who liked a camel overcoat and skinny jeans. It became the simple smart casual top for ‘dapper’ looking dudes trying to cross to the road without getting run over. If you’ve tried it, you’ll notice it has to be ridiculously cold for a wool or cashmere roll neck not to leave you looking like a perspiring mess. While it does look good on the majority of guys, it’s often impractical and doesn’t really allow for the option of taking it off or loosening it. You're committed once it's on.

Left - Prada Menswear SS19

menswear trends fashion summer roll necks Jeff Goldblum short shorts

Ah-ha, so, we want the look, but without the sweaty throttle? Enter the summer roll neck. Made usually from stretchy cotton/lycra mixes, and seen on the catwalk at Prada, this is just a long sleeve T-shirt with an extra roll around the neck. This won't make you much hotter, but you get the cool look, and looks great layered under a polo shirt.

Right - Jeff Goldblum in Prada SS19

The short shorts are optional, but this will certainly keep the sun off the back of your neck.

menswear trends fashion summer roll necks pradaLeft- Fila White Line Logo Roll Neck Long Sleeve T-Shirt In Green - £24 from ASOS 

 

 

 

menswear trends fashion summer roll necks pradaRight - Prada - Cotton mock turtleneck jersey - £325  

Below - Topman White Roll Neck T-Shirt - £15

menswear trends fashion summer roll necks Topman

menswear trends fashion summer roll necks pradaLeft - ASOS DESIGN muscle fit long sleeve roll neck t-shirt with stretch in red - £6.50

 

 

 

 

Published in Fashion
Tuesday, 07 May 2019 12:02

Met Gala 2019 Menswear Takeaways

Met gala menswear Harry Styles pearl earringNobody came as a row of tents or Christmas, but the ‘Camp’ theme, to go along with the New York museum’s new exhibition, isn’t exactly new to the Met Gala. The Met Gala is Fashion Christmas and is definitely not for those who don’t want to stand out.

The more you think about camp, the most confusing and harder it is to define. But, we’ll probably all agree, it’s about colour, print and bigger-is-best outlandishness and there was plenty of competition for the craziest and most attention seeking outfits. Here are TheChicGeek takeaways from the men on the pink carpet:

The Boy With The Pearl Earring 

With Gucci the main sponsor, their poster boy, Harry Styles, was the Co-Chair along with their Creative Director, Alessandro Michele. Harry’s become known for his bold Gucci looks and this didn’t really take it up a notch on the night. It was pretty standard Gucci uniform. But, it was the drop pearl earring that left a lasting impression. Vermeer in his ear, Harry’s pearly earring is a romantic renaissance addition to your jewellery box.

Left - Harry Styles in Gucci

Met gala menswear Rami Malek Saint LaurentMet gala menswear Ezra Miller shoesCamp Shoes 

For those a little nervous to embrace the full Liberace campness, it was all down to the shoes. Go for something striking in glitter, studs or sequins.

Right - Ezra Miller in Burberry, Far Right - Rami Malek in Saint Laurent

Met gala menswear Andersen BlaakStill Obsessed With Pink

Pink has become the beige of our era, but it still looks fun and fresh. Especially when it perfectly matches the carpet.

Left - Anderson Paak in Gucci

Met gala menswear Jared LetoThe Winner 

This idea is straight from the Gucci catwalk, but to have your own version of a Madame Tussauds head tucked under your arm is really something. Jared Leto going out for a pint of milk is pretty camp, at the best of the times, but this stepped it up and added some Adams Family spookiness. 

Right - Jared Leto in Gucci

 

 

 

 

 

Met gala menswear Ezra MillerThe Mind Fuck

This make-up reminds me of the creepy Chemical Brothers video, Let Forever Be. While the outfit is meh, the artistry of this is full face look is technically brilliant. Look into my eyes…

Left - Ezra Miller in Burberry

Met gala menswear Alessandro MicheleThe WTF

All camp roads lead to Gucci and the king is Alessandro Michele, but this feels more sloppy Studio 54 reject than emperor of camp. 

Right - Alessandro Michele in Gucci

 

  

Met gala menswear Frank OceanMet gala menswear Kanye West BorecoreThe Party Poopers

Move over Normcore, this is Bore-core. I’m sure if you sliced these two in half they’d be a rainbow inside.

From Left - Frank Ocean in Prada, Kanye West in Dickies 

Published in Fashion
Tuesday, 19 March 2019 12:51

ChicGeek Comment Limiting References

Michael Jackson Louis Vuitton glitter gloveWhen Virgil Abloh devoted his latest AW19 Louis Vuitton men’s collection to Michael Jackson he never could have thought that the whole thing was going to disappear so quickly. Paying homage to the ‘King of Pop’, the entire show was inspired by his Billie Jean video with its light-up paving stones and litter-strewn New York street.

Left - Those famous Jacko sequinned gloves reimagined for the, now, cancelled AW19 Louis Vuitton men's collection

The designer and brand presumed that it would be as uncontroversial as the icon from the first collection, under his creative direction, Dorothy from the Wizard of Oz: her glittery red shoes being replaced by his glittery gloves. In a collection brimming with references to Michael Jackson, it was a celebration of Jackson the stage performer and musician.

All good, until the release of the recent documentary, ‘Leaving Neverland’, which focussed on the allegations made by two men who say Jackson had abused them as children. The energy around this film reignited the controversy surrounding Jackson, reminding people of his potential darker side.

Michael Jackson Louis Vuitton glitter glove

The Louis Vuitton damage limitation machine kicked in and released the following statement: The documentary ‘Leaving Neverland’ featuring two men who allege they were sexually abused as children by Michael Jackson has caused us the greatest pain. It is important to mention that we were unaware of this documentary at the time of the last LV FW19 Men’s Show. “My intention for this show was to refer to Michael Jackson as a pop culture artist. It referred only to his public life that we all know and to his legacy that has influenced a whole generation of artists and designers." said Virgil Abloh, Men’s Artistic Director.

Right - Billie Jean trash can

“I am aware that in the light of this documentary the show has caused emotional reactions. I strictly condemn any form of child abuse, violence or infringement against any human rights.” added Abloh.

The collection, due to hit stores in July, has been stripped of any of the Jackson references and the label confirms that it will not produce any of the pieces that include Michael Jackson. Fortunately for Louis Vuitton, it was easier to cancel the collection in March, before too much had been expensively manufactured, and they were left with product they couldn’t sell. To cancel it before production was the safest option in a environment where brands are frightened to upset people or be controversial. 

So, where does this leave us as an industry in relation to references? 

The fashion industry is a huge business with a never ending conveyor belt of ideas and products needing copious amounts of references and inspirations. One minute it’s rainbows, then unicorns, then llamas, and whatever next, and who knows where these images come from and what they mean to different people.

In an era of ‘Cultural Appropriation’ and ‘Blackface’ controversies, brands will, now, always err on the side of guilty. This is guilty until proven innocent and a way of limiting the social media outcry and killing the thing stone dead. It’s just not worth the hassle.

Michael Jackson Louis Vuitton glitter glove

From Katy Perry’s shoes to Prada’s figurines to Gucci’s roll-neck, we’re now clear on what should definitely be erased from the design vocabulary. But, won’t this limit the scope of references at the disposal of brands and designers and lead to boring collections frightened to reference motifs and cultural imagery? Won’t it be a case of collections designed by lawyers to satisfy the small print and devoid of anything challenging or different? Every moodboarded person will be researched and investigated in a Stasi-like, 1984 approach into finding anything controversial in their background. You just wonder how Coco Chanel gets away with it.

Dries Van Noten, the Belgian designer, famous for this Indian embroidery and ethnic motifs, told Business of Fashion in 2017, “For me, other cultures have always been a starting point. But I never took things very literal. Quite often, we take one element that we like...and mix it to be something very personal,” he said. “It’s like layering. Indian- or African-inspired or ethnic-inspired...it has to be clothes people want to wear now. Clothes that are used to express who they are. To me, that’s the final goal.”

Left - Louis Vuitton menswear referencing The Wiz, the sequel to the Wizard of Oz, which starred Michael Jackson and followed Abloh's first collection with Dorothy was the main inspiration

“I look now more to the art world, for several reasons, I still make elements and references to ethnic things, but it has become more difficult now.” In response to Cultural Appropriation he said, “The only ethnicity I could look at is Belgian folklore.… It’s not that I exactly copy them and it's not that I want to hurt people by using certain things,” he said. “It’s the alphabet of fashion, which I use to create my own things. Sometimes, especially with menswear, you have to work with recognisable things. You have to make things that men know.”

His latest collection references the Danish designer Verner Panton, but what if Panton turns out to a few skeletons in his closet? For example, imagine you created a collection around the much loved Beatles’ song, Penny Lane. Referencing the fireman, the banker and nurse selling poppies from a tray, but then somebody points out the famous street in Liverpool is named after James Penny, an eighteenth-century slave trader. It’s knowing when the line of history needs to be drawn or how far back you investigate the reference. Rather than seeing people celebrating these things, many are seeing it as a hijacking, and limit people to only use the culture they identify with; making a very boring and restrictive design vocabulary.

Michael Jackson Louis Vuitton glitter glove

The world moves forward and things change. Everything needs to be judged on an individual case-by-case basis and the decision is an informed and instinctive knowing when something isn’t right, appropriate or we’ve moved on as a society. We’re all learning this, all of the time. 

Different cultures think differently about things and being frivolous or decorative about things with deeper meanings should be used with caution.

Right - Pixelated Michael Jackson on Louis Vuitton accessorises

Brands make things to sell, not to upset anybody, but won’t our oversensitivity limit the references we have at our disposal. We’re in an era of seeing the negative in everything and blowing it up on social media and it could lead to a very bland and beige period of fashion.

Published in Fashion
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