The National Football League wants to give its growing cohort of female fans an elevated take on game day gear.

On Monday, the NFL announced it had collaborated with New York-based ready-to-wear line Veronica Beard on a collection of 32 blazers — one for each team — based on the brand’s signature Dickey Jacket. Priced at $998 each, the jackets are more elevated than the rest of the league’s official women’s apparel offer — the customary sporty jerseys, tees, sweatshirts and varsity jackets, which are all priced under $200. The complete collection will retail on Veronica Beard and the NFL’s sites, as well as at Neiman Marcus stores and in NFL stadiums.

It’s the latest example of fashion and sport cosying up to one another. Over the summer, luxury conglomerate LVMH sponsored the Olympics, while brands including David Yurman and Glossier have inked partnerships with the NBA and WNBA. While the NFL has tiptoed into fashion — releasing a collection of sweatshirts with Boss last year, for example — it’s been slower to dive into the conversation as much as other sports leagues. This collaboration marks the NFL’s first big step into women’s fashion in particular.

“This is a real need. This wasn’t out there,” said Renie Anderson, the NFL’s EVP of partnership and chief revenue officer, who estimates women make up 50 percent of its viewership.

For Veronica Beard’s part, plugging into sports — and the NFL specifically, which saw interest among women surge last year thanks in part to media attention on pop star Taylor Swift and Kansas City Chiefs’ tightend Travis Kelce’s relationship — is an opportunity to speak to a new audience. The brand has been in expansion mode: Last year, it surpassed $250 million in sales and opened a number of new storefronts, including in Charlotte, North Carolina and Los Angeles’ ritzy Beverly Hills. This year, it added an outpost in the Hamptons and another in London.

“We’re always looking for white space. When all of the sudden there was the Taylor Swift effect for the NFL, we were like, ‘wait, what do you wear to a football game?’ Your only choice is a large men’s jersey or a lame sweatshirt,” said Veronica Swanson Beard, co-founder of Veronica Beard. “We think you can elevate that.”

The NFL’s Fashion Drive

Fashion represents a huge opportunity for sports leagues, teams and brands.

For the NFL in particular, the opportunity crystalised last season, as more women and young people started tuning in not only to games, but the culture of sports at large. That’s in part due to the growing popularity of high-profile wives and girlfriends of athletes — including influencers Alix Earle (dating Dolphins receiver Braxton Berrios) and Morgan Riddle (girlfriend of tennis player Taylor Fritz) — who have attracted millions of followers as well as deals with high-profile brands like denim maker Frame and Louis Vuitton.

The Swift effect also helped spark a burgeoning interest in game day style as her own ensembles — which included pieces like a Dion Lee corset, bedazzled Area jeans, a sweater from friend Gigi Hadid’s label Guest in Residence and a puffer by fellow NFL WAG Kristin Juszczyk, who then snagged an NFL licensing deal — made headlines.

The league sees the step into fashion with Veronica Beard as a way to offer mainstay fans new — and much needed — fan apparel options and potentially help keep new viewers engaged.

“We had a tidal wave of growth [in women viewers] with the dating situation in Kansas City. It helped younger fans come into the NFL,” said Anderson. “We want to continue to feed that fan, we don’t care how they got there, once they’re here, we want to keep them.”

The popularity of Juszczyk’s designs — puffers, corsets, tank tops, jerseys worked into skirts, patch dresses and stitched coats that centre on stylishness — “was a jolt” that shook up the NFL merch space, said Anderson. More projects with Juszczyk are in the works, she added.

Brands Pile Into Sport

It goes both ways: plugging into sport is also a chance for fashion brands to market themselves to new audiences.

Veronica Beard’s interest in the space was piqued after UT Austin women’s basketball coach Sydney Carter wore a few of the brand’s pieces at games. Soon after, basketball phenom Caitlin Clark, wore a Veronica Beard suit in an interview.

“Our following skyrocketed in a whole new demographic,” said Veronica Miele Beard, co-founder of Veronica Beard. ”Women rising in sports is crazy important right now and relevant.”

The Veronica Beard team thinks this is just the beginning for the NFL and fashion and women: there are plenty of fans who want to get dressed up for games, who have few spirited-but-stylish options. Anderson said the league is open to more brand partnerships, and plans to make more pushes into the industry in time.

“If you think 20 years back about your selection options as a woman for any sport, it would have been something pink … That is not understanding who she is,” she said. “The business will grow if we continue to focus on women in a way we’ve focused on other fans in the past.”

Shira Suveyke Snyder is now chief executive officer of Proenza Schouler, the brand announced on Thursday.

Suveyke Snyder succeeds Kay Hong, who held the role since 2018, after designers Jack McCollough and Lazaro Hernandez bought back their brand (in partnership with hedge fund Mudrick Capital) from Boston-based private equity Castanea Partners. Hong will remain on the board of directors.

Formerly the brand president of Amazon-owned e-tailer Shopbop, Suveyke Snyder has held several roles in the e-commerce space; she served as executive vice president at Yoox Net-a-Porter Group, where she helped launch The Outnet and worked in buying and merchandising roles at Gilt, J.Crew and Macy’s. Most recently, Snyder has been independently consulting on scaling private equity portfolio luxury companies. Proenza Schouler will look to leverage her expertise to accelerate growth through its own direct-to-consumer channels.

“We have the unique opportunity to take the brand’s incredible momentum and expand on what Jack and Lazaro have built by owning our customer and our brand voice,” said Suveyke Snyder.

The move comes in the midst of a years-long turnaround for the Proenza Schouler business. The brand is set to open a new store in SoHo later this year and McCollough and Hernandez are finalists for the CFDA’s womenswear designer of the year award.

Learn more:

The Nine Lives of Proenza Schouler

What happened to the most promising brand in American fashion?

It’s a well known, but often unspoken fact: the primary purpose of fashion shows today is to sell accessories. But lately, some brands are getting a little more blatant about it.

Chloé kicked it off in February with a front row full of the brand’s Maxime Wedges at creative director Chemena Kamali’s debut in February. The visual impact led to the likes of Elle and Vogue declaring “boho is back!” and “wedges are in again.” And then in September, Tory Burch staged its own shoe coup, dressing its high-profile guests — including actresses Mindy Kaling, Elizabeth Olsen and Michelle Williams — in its pierced heel, a buzzy style the brand is trying to turn into its next sales driver. The praises followed: Elle, WhoWhatWear and InStyle declared it an ‘it’ shoe.

The images — the same pair of shoes one right after the other — stood in stark contrast to luxury’s typical front row strategy, filling front rows with VIPs in carefully coordinated looks that display a full range of items.

The gambit itself, though — flooding a scene with a product to create a sense of hype and sudden inescapability — isn’t new. In 2018, Dior saturated the internet with saddle bags, seeding them to a sea of influencers for creative director Maria Grazia Chiuri’s big relaunch of the style. After showing its micro-mini skirt on the runway in October 2022, a slew of influencers arrived at Miu Miu’s next show in variation of the look. By then, it was already on its way to peak virality: it was on covers (Nicole Kidman on Vanity Fair, Paloma Elsesser on i-D), in campaigns (Hailey Bieber wore it in a series of ads for the brand) and on countless celebrities, including Zendaya, Hunter Schafer, Emily Ratajkowski, Chiara Ferragni and Saweetie.

Staging a product blitz can create a frenzy that’s irresistible to social media algorithms; the press latches on to the storyline, too. At the same time, the tactic can be tricky in a luxury space driven by exclusivity.

Beyond the most obvious examples, the renaissance of the strategy plays into wider shifts. More brands are focusing on how to best use shows — and, specifically, product placement through VIP guest dressing — to spur sales. At a time luxury is widely under pressure, many brands are in need of a boost that fast-spreading imagery highlighting key products can provide.

“There’s been a huge rise in discussion [among shoppers] about it-items and it-styles of the season,” said Gab Waller, a luxury product sourcer. “Most brands are trying to create that moment.”

Risks and Rewards

If a product blitz hits, it can drive awareness for a brand broadly and quickly. Chloé's viral wedges, for example, helped hammer home a singular vision of who the Chloé girl is under its new creative director, and drive eyes to the collection itself. At Tory Burch, in the midst of a turnaround dubbed “the Toryssance,” the ubiquity of pierced shoes helped create a sense of a clubbiness around the brand in general — InStyle called it “the viral Tory-verse.”

A sense of a brand being its own world — i.e. that there is a Chloé girl or a Miu Miu girl — reflects how younger shoppers especially experience brands today, including with a desire to dress on “theme,” said Allison Bringe, chief marketing officer of analytics firm Launchmetrics.

Still, manufacturing saturation comes with a risk that at some “point [it] becomes cheesy,” said Conor Begley, chief strategy officer at influencer marketing firm CreatorIQ.

Getting an item everywhere all at once can create excitement; but a brand can’t live on excitement alone. Chloe’s wedges and Tory’s heels only make up a tiny fraction of conversation about both brands, said Begley, and the impact of these moments tends to be short lived. After the Chloe show, searches for “wedge heels” shot up 235 percent in the following week, but quickly returned to its baseline, according to fashion data firm Trendalytics.

In an effort to fast-track popularity, a brand could actually end up accelerating the shelf life of an item, especially among certain audiences. “A lot of clients shy away from something that’s saturated,” said Waller. Consumers want things that seem illusive: if an item is suddenly everywhere it’s rarer that it develops that lasting it-item sheen, she added.

Waller didn’t see a lot of demand for the Chloé wedge from her followers, mostly fashion enthusiasts in the US, she said. A blitz is more likely to resonate with a consumer on the accessible end of the spectrum, said Laurent Francois, managing partner at Paris-based creative agency 180 Global.

“You’re going to reach a wide audience, it creates an amazing picture, suddenly you make an impact,” said Francois. “It’s smart in the short term, but when you look at what true luxury consumers want from luxury brands it’s an elevation of product.”

Most importantly, people have to actually want to wear the item that’s being pushed: “There’s a risk in being too impactful without credibility or without general interest to wear the stuff,” said Francois.

Perhaps that’s why most brands take a more subtle approach. Fendi, for example, fronted its new version of the soft Peek-a-Boo bag, launched in August, at its show: it was on the runway, a number of VIP guests including actress Shaliene Woodley, singer Normani and influencer Caroline Daur carried it, and Fendi dedicated most of its Instagram posts in the days that followed to the bag. It didn’t make for a mega-viral moment, but there was a clear push around a bag already available for purchase, said Bringe.

“Fashion week is a great place to amplify whatever product you’re selling. But if you don’t specifically talk about that product within the context of fashion week, no ones going to know you’re promoting it,” said Bringe. “That’s something we’ve seen brands get smarter at.”

Money just got a little less expensive.

On Wednesday, the US Federal Reserve made its first interest rate cut in four years, effectively declaring victory in its effort to bring down inflation that set in after the pandemic. Officials voted to lower the rate, used as a benchmark to set borrowing costs throughout the economy, by half a percentage point, to a range of 4.75 percent to 5 percent. That’s higher than the quarter point many economists expected.

The hope is that by lowering rates, the Fed will officially usher in a so-called soft landing for the US economy, where inflation is brought down to target levels without triggering a recession. In August, consumer prices rose at their slowest pace since February 2021. But hiring has slowed dramatically, raising recession fears and contributing to the decision for a more aggressive cut.

The Fed’s move is part of a global trend: the European Central Bank and Bank of Canada cut rates earlier this month, while the United Kingdom and Mexico did the same in August.

The decrease will have a widespread impact, with effects on the stock market, hiring and loans, including mortgages. Broadly, lowering borrowing costs is a way to heat up the economy and stimulate demand. The effects on fashion will be nuanced. BoF explains what rate cuts mean for consumers, brands, retailers and investors.

Will consumers spend more?

For years, consumers watched interest payments on their credit card balances tick up with each Fed rate hike. This week’s cut, which is expected to be the first of several in the coming months, will lower those payments along with other forms of debt, including new mortgages. Retailers are hoping this will free up more money for consumers to make discretionary purchases, particularly among lower and middle income shoppers, said Sucharita Kodali, vice president at research firm Forrester.

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For the most part, consumers have continued to shop even as economic data increasingly pointed to trouble ahead: US retail sales beat expectations again in August. Still, we’re far from the boom times of 2022. A number of mass-market retailers, including Macy’s, Urban Outfitters, Lululemon and Ulta Beauty in recent weeks said they are seeing slowdowns in spending. The luxury sector has also been hit hard. Plus, shoppers are sitting on record credit card debt, according to the Federal Reserve Bank of New York.

For fashion, it’s the mood that rate cuts put shoppers in that matters most: good news helps increase consumers’ confidence, and with it, presumably their cart size too.

“It doesn’t make a big impact on someone’s wallet. It ends up being about the actual confidence itself,” said Kelly Pedersen, head of retail at PwC.

What does it mean for fashion companies?

Much like their customers, many fashion brands and retailers have borrowed heavily and will welcome the chance to refinance their debt at lower interest rates. Among the large fashion companies analysts point to as carrying relatively higher levels of debt are Macy’s and Nordstrom, as well as Capri and VF Corp. The latter recently sold Supreme and is exploring the sale of other brands in part to reduce its debt load.

As borrowing costs decrease, brands and retailers can redirect more money toward growth — opening stores, hiring more employees, crafting buzzy marketing pushes or investing in new digital strategies. Already, the retailers Pedersen works with are talking about how to revamp their stores to encourage sales, either with more salespeople or technology upgrades, he said.

Not all businesses will feel the cuts equally, though, said Simeon Siegel, BMO Capital Markets managing director and analyst.

“Rate cuts will impact borrowers very differently than they impact savers. Companies that have a lot of cash have benefitted from higher interest rates on their bank accounts, people who have been borrowing have not,” said Siegel.

At the same time as borrowing costs decrease, so too do the perks of storing cash. Many companies, including the more savings-forward Gap Inc. and Ralph Lauren, quietly benefitted from the increase in interest income, said Siegel.

“You lose the ability to simply generate cash in your sleep because your bank account works in your favour. You have to find other opportunities,” said Siegel.

How will investors react?

Fashion start-ups and established brands looking for buyers may start to see more interest. When rates are high, investors tend to park more of their money in cash and cash-like investments, such as treasury bills and money-market funds. Each rate cut will reduce the returns on those holdings, and encourage investors to seek out riskier investments – consumer brands among them.

There’s evidence that has already begun: almost half of investment firms servicing the ultra-wealthy have put more money towards private equity and listed companies this year versus last, Citigroup found in a survey of family offices released on Sept. 18.

Last week’s investment in minimal fashion label The Row — led by Chanel’s Wertheimers and L’Oréal’s Bettencourt-Meyers families, Imaginary Ventures and Moda Operandi co-founder Lauren Santo Domingo — was a potential harbinger of positive sentiment in the space.

Lower interest rates could heat the M&A market up too, analysts say.

“We start to see more deals as the cost of money decreases,” said Pedersen. “I wouldn’t be surprised if there’s more consolidation because there’s just more opportunity for cheap money to go and infuse in these investments.”

Of course, nothing will change overnight. Investors still may be wary of fashion investments. And rates are still relatively high. Much depends on whether the cuts continue, if they do, by how much. The next Fed meeting is Nov. 7, right after Election Day.

“It’s going to take a while. A lot of investors are hoping for a zero interest rate environment and we’re far from that,” said Kodali.

THE NEWS IN BRIEF

FASHION, BUSINESS AND THE ECONOMY

Chanel buys 42 Avenue Montaigne amid real estate arms race. The firm plans a major renovation for the 42 Avenue Montaigne boutique beginning in 2029. Chanel’s current property portfolio’s value is more than $7 billion, with a significant portion having been bought over the last 10 years.

Fed cuts rates by half point in a decisive bid to defend the economy. The Federal Reserve is aiming to bolster the labour market while signalling a cautious approach to future adjustments amid mixed economic indicators. Policymakers pencilled in an additional percentage point of cuts in 2025, according to their median forecast.

Zegna CEO is still betting on China despite uncertain growth. The Italian fashion house remains committed to its medium-term expansion strategy in China, prioritising marketing and made-to-measure services. The company reported first-half sales of €960 million ($1.1 billion), 6 percent higher than last year.

EssilorLuxottica extends smart glasses partnership with Meta. The new long-term agreement will take both companies into the next decade. The launch of the first smart glasses struggled to gain traction among consumers, the latest version, introduced in late 2023, has sold more units in a few months than the previous ones did in two years.

US retailer holiday hiring is set to be lower than last year. Retailers will hire fewer seasonal workers this holiday season than last year due to a softer labour market and tighter consumer spending heading into the crucial shopping period. Retailers are expected to add 520,000 new jobs in the final quarter of 2024 compared to 564,200 in 2023.

Hong Kong K11 Musea mall expands luxury offerings. Luxury brands owned by LVMH and Kering are among those expanding or upgrading their presence at the mall as owner New World Development bets on a rebound in the premium retail sector. The K11 brand malls have been a key growth driver for New World’s investment property sector.

Next ups profit guidance on international growth. The fashion and homeware retailer forecast its annual profits at £15 million more than previously expected, at £995 million — up from the £918 million recorded in 2023. Overseas sales rose by 23 percent in the six months to July, offsetting a near 1 percent decline in sales of Next-branded clothing in the UK.

UK warns 17 fashion brands on greenwashing. The Competition and Markets Authority has written to 17 “well-known” fashion brands advising them to review how they market sustainability claims. The letters highlight areas of concern, focused on vague or general claims that could mislead consumers.

THE BUSINESS OF BEAUTY

Cassandra Grey buys back Violet Grey. The cult beauty retailer’s founder teamed up with investor Sherif Guirgis to acquire the business back from Coupang, the South Korean owner of Farfetch. The retailer is also launching a brand development arm called Violet Lab, which Grey will lead as chairman and artistic director.

Ozempic “very likely” to face drug prices negotiations, Novo says. The ability to negotiate drug prices is part of a sweeping set of policies set forth in President Joe Biden’s Inflation Reduction Act. The law allows the US government to mandate lower drug prices, as many other nations around the world already do.

PEOPLE

British Fashion Council CEO to step down. Caroline Rush will step down from her position from June 2025, ending a 16-year run. The search for her successor will begin immediately, led by management consultancy Egon Zehnder. In the meantime, Rush will continue to lead the organisation.

i-D magazine appoints Thom Bettridge editor-in-chief. The magazine is set to resume publication with Bettridge as top editor and chief brand officer. Bettridge most recently served as Ssense’s vice president of creative content and he previously held editorial roles at 032c, Interview and Highsnobiety, where he was editor-in-chief.

Dazed Media names new executive director. Dan Fitzgerald will lead the company’s commercial partnerships across its digital and print publications including AnOther magazine, Another Man, Dazed and Dazed Beauty. He will also be responsible for the business’ Dazed app, a creative professional networking platform.

BBC report: former Harrods Boss Al Fayed raped and abused women. Mohamed Al Fayed’s victims and former employees described a pervasive climate of fear at Harrods, and said his predations were known among the staff. Rather than intervene, Harrods helped cover up abuse allegations, according to the BBC.

Compiled by Yola Mzizi.

The death of New York Fashion Week has long been lamented, but the events of last week appear to be proof of life.

Sure, there are still problems. Homegrown talents like Peter Do, The Row and, most recently, Gabriela Hearst have decamped to Paris. Former mainstays like Oscar de la Renta and Marc Jacobs now show off-calendar. Shows in hard-to-access locations on the far west side of Manhattan and in the Brooklyn Navy Yard have made programming into something of a week-long schlep.

These challenges were crystalised in a joint report by McKinsey and the nonprofit Partnership for New York City, published on the first day of fashion week this season. It points to a “deflation of NYFW on the world stage” due to the decentralisation of venues, the prohibitive costs of putting on a runway show and an overall lack of engagement with the city itself.

Over the past week, however, New York Fashion Week has proven its critics wrong. The big moments this season felt more grand than before — just look at Ralph Lauren’s equestrian showcase in Bridgehampton, which included a one-night-only recreation of his famed Polo Bar restaurant, or the surprise performance by Wu-Tang Clan, brought together by Tommy Hilfiger on a decommissioned Staten Island ferry.

Marquee shows from Alaïa and Off-White, both of which typically show in Paris, as well as the arrival of Swedish minimalist favourite Toteme, signalled the strength and desirability of the American market. Domestic talent, in the form of a small but influential cohort of indie brands, exhibited their aesthetic worlds in their own idiosyncratic ways, whether that’s through Eckhaus Latta’s rambunctious dinner party or Willy Chavarria’s runway ode to democracy. New York mainstays put their commercial success on display — Coach sent a wide range of bags down the runway, from oversized backpacks to top-handle satchels covered in doodles, and Tory Burch brought back its Reva flat, a style that catapulted the brand to success in the late aughts.

Beyond the runway, the energy percolated across the city in the form of events and activations, engaging other segments of the fashion industry. Florentine retailer LuisaViaRoma opened its first international outpost with a splashy party on Sept. 4. The next day, J.Crew recreated the iconic New York restaurant La Côte Basque in the basement of the New York Public Library. Thom Browne, Kering and Loewe with Saks also hosted dinners throughout the week, each just as star-studded as the last. Rival influencer monetisation companies ShopMy and LTK both hosted events, the latter for the first time since before the pandemic.

If anything, this New York Fashion Week flaunted its hometown and brought back an excitement that hadn’t been felt in years. The perfect early autumn weather didn’t hurt either.

“People were just really excited and having fun last week,” said fashion writer Rachel Tashjian. “It felt convivial, rather than like a grind.”

Behind-the-scenes, there were critical logistical improvements. In response to growing complaints about the difficulty of getting between shows, the Council of Fashion Designers of America teamed up with Google this season to charter a bus that took attendees from show to show. It was overall a big hit, even with the traffic. And more so than in past seasons, shows tended to run on time (or at least, within 30 minutes of their supposed start time), with few exceptions.

To be sure, it wasn’t a perfect week. The sheer star-power — Alaïa was one of the few shows to start late because it was holding the runway for Rihanna to arrive — or production value of the events often overshadowed the clothes themselves.

And in this iteration of NYFW, it seemed that a big name or a big budget was the surest ticket to success, which posed challenges for small brands trying to break through the noise.

“New York Fashion Week has been known as a place to discover new brands, and some of that discovery aspect is now gone,” said Gary Wassner, founder of financing firm Hilldun Corp.

And though many attendees were grateful not to have to make the trek to the Starrett-Lehigh building, or brave Spring Studio’s elevator lines, some emerging designers missed those hubs, which were operated by IMG. Knitwear designer Nia Thomas said showing as part of Black in Fashion Council’s showroom last season at Starrett-Lehigh changed the trajectory of her business.

“Editors who didn’t know us came and discovered. They started pulling samples immediately, my DMs were blowing up in the weeks after from stylists,” said Thomas. “That type of exposure is massive and you can’t put a price on it.” This season, Thomas was not invited back by the Black in Fashion Council. After having trouble securing a workable location and sponsors, she opted to bow out presenting entirely.

As it gets more expensive and logistically difficult to stage shows, brands must think harder about whether they really need one. A runway show isn’t always the best format every season for small brands and sometimes even larger ones. A number of brands favoured small gatherings rather than traditional shows this season, for instance. Todd Snyder invited about 50 people to his runway inside Le Rock restaurant; Eckhaus Latta coordinated with its guests to walk the “runway” at a dinner event in a loft in Tribeca.

The intimacy of these events also underscored the closeness of the fashion community in New York City — another reason why this season felt reinvigorated, insiders said.

Eckhaus Latta’s dinner was a great example of a brand demonstrating its cultural prowess, said Tashjian. “They’re saying, ‘We’ve really built something that’s not just an aesthetic but a sensibility and a group of very dedicated customers,’” she added.

The Council of Fashion Designers of America has announced nominees for its annual fashion awards, which will take place on Oct. 28.

Thom Browne is nominated in both the womenswear and menswear categories and Tory Burch is up for womenswear designer of the year (which she has yet to claim) and accessories designer of the year.

The rest of the nominees for Womenswear Designer of the Year are Diotima’s Rachel Scott, last year’s Emerging Designer of the Year; Jack McCollough and Lazaro Hernandez of Proenza Schouler and Marc Jacobs. A notable omission is Khaite’s Catherine Holstein, who took home the Womenswear Designer of the Year Award in both 2022 and 2023.

Alongside Browne, the Menswear Designer of the Year nominees are Mike Amiri’s Amiri, Emily Adams Bode Aujla’s Bode, Todd Snyder and Willy Chavarria, who won the prize last year. Burch, Khaite’s Holstein, Ana Khouri, Coach’s Stuart Vevers, and Raul Lopez’s Luar are the nominees in the accessories category.

Nominees for the Shop With Google Emerging Designer of the Year award are Tanner Fletcher, Jackson Wiederhoeft, Connor McKnight, Presley Oldham and Zankov. A number of other figuers will also be honoured with special awards at the ceremony, including photographer Annie Leibovitz, Schiaparelli designer Daniel Roseberry and Michael Kors.

Learn more:

Hopes and Fears at New York Fashion Week

America’s intense political moment found its way onto the runway, wittingly or unwittingly, reports Lynn Yaeger.

Take a walk down Madison Avenue in New York and the familiar sounds of summer in the city will ring out: cars honking, gleefully chattering pedestrians, and more recently, the ever-present hiss of circular saws and thuds of new construction.

After a decade of falling rents and rampant vacancies, New York’s most prestigious stretch of real estate is buzzing once again. In the second quarter of 2024, retail availability crept down to 12.3 percent from a high of 40 percent in 2021, according to data from brokerage Cushman and Wakefield.

It’s been a long time coming. Rents in the famous retail district soared dangerously high in the early 2010s, just as e-commerce began to surge. This contradictory dynamic pushed tenants out in droves; by the time the pandemic struck, nearly half of the neighbourhood’s storefronts sat empty. Between 2015 and 2021, the average asking rent more than halved, from $1,600 per square foot to $700, data from CBRE shows.

At that point, retailers were already on the rebound, fuelled by stimulus checks and voracious consumer appetite for newness. Suddenly, the low rents on Madison Avenue became an opportunity for luxury brands to expand their presence in the area and lowered the barrier to entry for new tenants, which will soon include Khaite, Toteme and French jeweller Boucheron.

The revival of Madison Avenue mirrors an overall boom in brick-and-mortar retail, in which the years-long trend of supply outpacing demand has reversed. Competition for coveted real estate is more fierce than ever — including an eight-block area on Madison between 62nd Street and 70th Street that’s particularly hot right now, brokers said. Outsize demand has already pushed up the parameters of the 20-block retail area (57th Street to 79th Street) to 86th Street, where Todd Snyder opened a new store on Aug. 1, joining Alex Mill, Faherty, James Perse and Brooks Brothers on the block.

“[Madison Avenue] is back in full swing,” said Sonia Mosseri, creative director of Still Here, a downtown-favourite denim line that recently opened a location on the street. “Everyone who lives up there hasn’t left and they’re excited to see it bounce back.”

Still Here joins a growing number of younger premium brands looking to find new customers in the affluent Upper East Side zip code. Their demand has already driven up rent prices, from an average of $718 per square foot in the fourth quarter of 2021 to $884 in the second quarter of 2024, according to CBRE.

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But for newcomers on the street, serving the area’s customers poses as much of a learning curve as it does an opportunity. The wealthy older clientele of the Upper East Side are used to a higher level of service than their downtown counterparts, brands say, but they are more likely to stay loyal to the brands they connect with the most.

A Game of Musical Chairs

In 2019, the closure of Barneys’ 275,000-square-foot flagship seemed to signal end times for the avenue. The loss of its anchor retailer meant waning foot traffic and overall excitement in the neighbourhood. It was also symbolic of larger shifts across the industry, where brick-and-mortar looked increasingly unattractive in the e-commerce era.

Today, the former Barneys space still sits vacant — landlord Ben Ashkenazy has said he is waiting for one big retailer to buy it. But the storefronts around it have rebounded en masse, driven by not only new retailers hoping to capture the area’s affluent residents but also existing tenants looking to upgrade their space and visibility on the street, brokers said.

“It’s a bit like musical chairs. But in musical chairs everything shrinks; this is a musical chairs of expansion,” said Corey Shuster, a broker at Douglas Elliman. “People are taking bigger stores and going after more prominence on the avenue.”

Hermès kicked off the streak, opening a new airy flagship on 63rd in 2022. Its old space on 62nd was snapped up by Dolce and Gabbana. Goyard, which has operated a boutique on 63rd since 2014, announced plans to move into a larger spot on the avenue in 2025. A bigger store is also in the works for Lafayette 148, whose outpost on 76th Street will now be occupied by L’Agence.

What’s in Store?

Simply being on Madison isn’t enough to drive sales; tenants must cater to the particular tastes and needs of the multigenerational Upper East Side shopper and find new ways to lure them in.

The most successful Madison Avenue retailers focus on service, said Matthew Bauer, president of Madison Avenue Business Improvement District. Top salespeople on the avenue will often go to lunch with top clients and call them personally to talk through new arrivals.

Conversion rates on Madison are higher and the cart size is bigger than that of its downtown store, said Still Here’s Mosseri. But serving this customer requires investment beyond rent. Still Here doubled its store staff on Madison Avenue since it opened and developed a 30-page guide on best practices.

“I always joke downtown that if I look at someone the wrong way or am too friendly, we’ve lost the sale,” said Mosseri. “Uptown, clients want two people catering to them, they want attention.”

Amenities and a special product range are also important components of service. Hermès’ flagship offers multiple lounge areas across its five floors, creating an inviting atmosphere for the brand to throw parties for its local customers. Todd Snyder’s new location boasts a more elevated product mix, a tailor shop and an assortment of vintage accessories in collaboration with Foundwell, aimed specifically at the neighbourhood’s resident, said chief product officer Alejandro Rhett.

Beyond Luxury

As Madison Avenue returns to growth, the scope of retail offering has also expanded. New tenants aren’t just traditional luxury labels; many are emerging contemporary brands or international labels having recently expanded to the US.

Being on the same street as Prada and The Row gives French contemporary line Officine Générale a nice glean, said founder Pierre Mahéo. But its prices are more affordable, which has helped drive sales, he added. In the midst of price hikes and challenging economic conditions, many luxury consumers are trading down.

As well, a wave of international brands, including Italy’s Del Core and France’s Destree are adding a sense of dynamism the avenue had been missing.

“Just pure, true, luxury, 200 year-old brands … doesn’t create enough of a merchandising mix,” said Steve Soutendijk executive managing director, Cushman and Wakefield.

Madison Avenue is also welcoming a number of new food and beverage concepts. British nightlife entrepreneur Robin Birley is set to unveil a members club between 69th and 70th Streets on Madison, while the newly-renovated Surrey Hotel will reopen with buzzy Miami restaurant Casa Tua in September. As of this week, residences at Giorgio Armani’s mixed-use complex at 760 Madison — fit with Armani shops and restaurants on the ground floor — have officially sold out.

“There’s fresh blood, new experiences,” said Shuster. “When you see excitement from both the small independent houses and the massive publicly traded ones, it’s a testament to the resurgence.”

Between rapidly-paced chatter on TikTok and the emergence of ultra-fast fashion players like Shein, figuring out how to capitalise on trends has never been more complicated. That reality, in tandem, has made a fashion buyer’s job harder.

“Different shocks are happening to different parts of the system. The anxiety is at a fever pitch,” said Monisha Klar, director of fashion intelligence at trend forecasting company WGSN, who previously worked as a buyer at Gap, Amazon and Fast Retailing. “If something goes wrong, it’s the buyer’s head on the chopping block.”

To address these shifts, on Aug. 8, WGSN is launching a new platform for buyers that puts its tools — including its TikTok Analytics service, which launched in April and analyses what sort of staying power trends on the app have, and its AI features which use machine learning to classify trends — together in one place, so that it can provide forecasts for when buyers should phase items in and out under their typical commercial calendar.

The firm’s AI model works by first analysing years of data drawn from social media, runways and retail, and using statistics to weigh the importance of various factors (for example, it has found being on the runway is a strong predictor of the lifecycle of some trends, while social is stronger for others). Trend experts then review the data and account for outside factors.

Previously, WGSN’s products were mostly centred around designers’ process and workflow, providing inspiration through high-level reports. The firm saw an opportunity to speak directly with the buyers using its information, said Francesca Muston, WGSN’s vice president of fashion. The platform has been in the works for years and is part of a wider emphasis the company is placing on building products specifically for buyers.

“There’s this perception that TikTok is driving trends, what TikTok is really doing is marketing trends,” said Muston, adding that these changes have made many buyers feel unnecessarily helpless. “It’s not about going out and making a whole new load of product off the back of every single trend and hashtag … Our clients are chasing their tails the entire time and they’re compromising on quality, fit and margin. There’s a way to be much smarter about this.”

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Tiffany & Co. and the Council of Fashion Designers of America are launching an award aimed at recognising and providing mentorship to American jewellery designers. Select participants, announced in the fall, will be invited to take part in “an immersive learning experience” with the LVMH-owned jewellery house, said a statement from Tiffany and the CFDA. In early 2025, one designer will be chosen for a year-long fellowship with Tiffany’s design department and receive a $50,000 prize.

The CFDA coordinates a number of awards and mentorship schemes for fashion and accessories designers; the Tiffany & Co x CFDA Jewellery Designer Award is its first prize focused exclusively on jewellery. The selection committee includes Alexandre Arnault, Tiffany & Co. executive vice president of product, communications and industrial; Frank Everett, Sotheby’s vice chairman of jewellery; model, activist and CFDA board member Bethann Hardison; actress Gabrielle Union and designer Jason Wu.

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The Fédération de la Haute Couture et de la Mode released its preliminary calendar for the Spring/Summer 2025 edition, featuring 70 shows and 38 presentations. Weinsanto will kick off the week on Sept. 23 and Louis Vuitton will round it out on Oct. 1.

One of the week’s most anticipated shows is Alessandro Michele’s runway debut at Valentino. The designer dropped a surprise resort collection on the final day of Milan men’s week in June, after joining the Roman house in March. Chanel will stage its first ready-to-wear show since Virginie Viard’s departure in June and Dries Van Noten is set to show for the first time without Van Noten. Both collections will be designed by the houses’ studios.

Absent from the schedule were Maison Margiela and Givenchy, which has yet to name a creative director following Matthew Williams’ departure in December. Off-White, under the creative direction of Ib Kamara, will show in New York.

New York-based Gabriela Hearst will take her namesake line to Paris for the first time since Spring 2021; and Ludovic de Saint Sernin will return to his home base following a showcase in New York last season. Y/Project is also back on the schedule, after cancelling its Autumn/Winter 2024 show in March. Seán McGirr and Chemena Kamali will both present their second collections for McQueen and Chloé.

Newcomers to the schedule include LVMH Prize finalist Niccoló Pasqualetti and Alainpaul.

Coperni, known for its viral shows, will present off-calendar at Disneyland Paris on Oct. 1 following the Louis Vuitton show.

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James Purdey & Sons, the over 200 year-old Richemont-owned British brand, has named British designer Giles Deacon creative director of clothing, accessories and brand image. He succeeds Simon Holloway, who joined menswear brand Dunhill, also owned by Richemont, in 2023.

Deacon is perhaps an unexpected choice for the gun and field sport clothing maker, which holds the Royal Warrant of gunmaker to the British royal family. He’s best known for his feminine dresses and use of pattern, as well as his celebrity client roster, which includes Beyoncé, Sarah Jessica Parker, Pippa Middleton and Billy Porter. He previously held roles at Bottega Veneta, Gucci and Tom Ford.

Last year, Purdey put a new focus on expanding and elevating its clothing business. Its knitwear and outerwear retail at Net-a-Porter and Harrods.

”Giles’ 30-years of experience in the industry perfectly complements what we do here at Purdey,” said CEO Dan Jago in a statement. “Valuing and supporting quality craftsmanship, upholding and celebrating these skills, and honouring design that is able to evolve while staying true to its roots.”

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The fashion industry has no shortage of buzzwords; chief among them is “buzz” itself.

Online chatter is highly prized in fashion, and for good reason: the ability to get people talking can make or break a brand. In recent years, a cycle has emerged. Brands do something meant to start a conversation, whether it’s putting on a runway show that seems to be more about getting attention than presenting clothes; dressing celebrities in their most polarising pieces; or churning out products meant to provoke. Usually, the more outlandish or unexpected the move, the more attention it receives, on social media and in the traditional press. Likes and shares, and metrics like earned media value surge. That is, until people move on and brands are forced to come up with what’s next, each time, trying to top their past.

The whole thing is understandably seductive.

“Buzz implies … the brand isn’t pushing the story down your throat. People are reacting and evangelising on your behalf,” said Tony Wang, founder of luxury consulting firm Office of Applied Strategy. “If you can unlock it, it’s infinitely more scalable than paid media.”

Still, it can be hard to tell whether much of that noise has meaning, or a lasting impact.

From some vantage points, buzz’s connection to generating long term sales and desire looks tenuous. Brands who relied on eye-catching virality throughout the 2010s — most notably, Balenciaga and Gucci — have embraced a more subdued, heritage-driven approach in the midst of sales slumps. Meanwhile, the labels thriving in the middle of a wider luxury downturn, like Hermès, Brunello Cucinelli and Prada, put less focus on attention-grabbing stunts.

Banking on this sort of attention is a risky endeavour in an environment where it’s more and more difficult to make moments that stand out. In turn, many brands are re-evaluating their strategies when it comes to how they build and measure buzz — and what exactly it’s worth.

“Buzz is awareness, amplification and excitement,” said Lucien Pagès, founder of his namesake communications firm. “You need to have it, but you cannot live on buzz.”

Buzz Doesn’t Conquer All

In the past, talked-about moments were more widely looked at as a happy accident. But today, behind every conversation-starter is a carefully orchestrated plan.

Manufacturing buzz — whether an isolated splash or plugging into particularly talked-about moments like the Cannes Film Festival or the Met Gala — is high on brands’ agendas, said Guillaume Delacroix, the founder of strategy and communications firm DLX.

A viral moment can push a small label to the next level. Coperni’s Spring/Summer 2023 show — where the brand sprayed a liquid fibre dress onto Bella Hadid with materials company Fabrican — catapulted the brand from an insider favourite in its local market to global recognition, said Stefano Martinetto, founder of growth and development platform Tomorrow, which is an investor in the brand.

In the immediate aftermath, viral moments can move items like handbags and shoes, attract a new audience or for young brands attract well-funded collaborators and sponsors for their next show, said Gia Kuan, founder of her namesake New York-based PR firm. After Beyoncé sat front row at client Luar’s Fall/Winter 2024 show in Brooklyn, for example, it saw a sales bump in new regions, she said.

But making it the primary goal can make brands reliant on quick hits of attention that don’t have much meaning.

“In the conversations I have with my clients, it’s just ‘focus on who you are and on having the right positioning and a unique offering,’” said Delacroix. “You cannot build brand desirability on buzz … it lasts the amount of time an Instagram story is up.”

Plus, some may be over-prioritising metrics like earned media value, used by firms including Lefty, Creator IQ and Dash Hudson and media impact value, Launchmetrics’ proprietary measurement, as indicators of overall success. Both use different methodologies to put a dollar value on conversation online and in the media, linked back to what a marketer would’ve had to pay if the placement had been paid.

That data is useful for figuring out what talent to work with, or what event to do a push around, said Lissy von Schwarzkopf, chief business officer of Karla Otto. Share of voice — the percentage of chatter a brand owns in a particular channel — is important because it has a correlation to market share and can provide insight into a brand’s trajectory, said Conor Begley, Creator IQ’s chief strategy officer.

EMV does indeed help a brand discern who is talking about it and the volume of the conversation. But critics say such metrics provide little insight into what people are actually saying and focusing too much on them can lead brands to lose sight of the big picture.

“Metrics can make you make a mistake,” said Pagès. “You get too addicted to things that will easily bring you exposure, not equity or inspiration.”

Even the M&A market is tempering on the idea of buzz, said investor Ariel Ohana, as a more precarious financial market refocuses priorities.

“Right now many buyers are saying ‘give me legacy brands, give me brands that have built perennial brand equity.’ There have been periods of time where people were only looking for what’s the most recent and buzzy brand around,” said Ohana.

The Weight Buzz Carries

For any brand, there’s a line to be walked when it comes to attention. Too little of it, and it doesn’t create desire, too much and it risks oversaturation. With that in mind, reaching the right consumer is imperative, said Mario Ortelli, managing director of luxury advisory Ortelli & Co.

“Brands need to focus on creating connectivity with their consumers. That’s really key in thinking about whether they need to generate a lot of buzz,’” added Alison Bringé, chief marketing officer of analytics platform Launchmetrics. “Is everyone your consumer? Probably not … I think that’s where we get lost.”

For example, the art world influencers Bottega Veneta invites to its shows to talk about the sculpture by Italian artist Umberto Boccioni at the centre of its runway or its set design from architect Gaetano Pesce may not create nearly as much chatter as its Kendall Jenner and A$AP Rocky paparazzi campaign in December, but they make inroads with a specific, high-quality audience, said Wang.

On the talent side, brands are increasingly building long-term relationships with celebrities that project a clear, consistent image of the brand, said von Schwarzkopf. They’re also playing a deeper role in creating cultural moments, said Wang, citing Loewe creative director Jonathan Anderson’s designing costumes and dressing the stars of the film “Challengers.”

“It has evolved from brands trying to piggyback off a cultural moment to brands now realising to create the most meaningful buzz they need to be the cultural moment,” said Wang.

What comes next is the most important part.

“[Buzz] creates an energy, but also an expectation,” said von Schwarzkopf. “You always need to think about what you do after.”

Last November, while much of the luxury e-commerce sector was in free fall, Mytheresa’s chief executive, Michael Kliger, seemed sanguine.

In the quarter ended Sept. 30, 2023, the high-end e-tailer achieved another quarter of net sales growth, preserving the streak it had maintained since its IPO in 2021. It was faring better than its competitors: The same day, Farfetch abruptly announced it would not provide its usual quarterly results, all but confirming the company’s dire situation that eventually led to its fire sale to South Korean retailer Coupang weeks later.

Asked on a call with investors and analysts how Mytheresa could future-proof itself as conditions deteriorated, Kliger said it would do what it had always done: Focus on its top-end clients, which it kept happy with events they couldn’t experience anywhere else, and exclusive products.

“All of these efforts ... allow us to compete not on price, not on discount, but to compete on newness, on exclusivity and combine that with superior service for our best customers,” Kliger said. “That is the approach that has allowed us to grow in a market where most people shrank.”

Mytheresa is one of a handful of multi-brand luxury e-commerce retailers, including Moda Operandi and Ssense, marching ahead despite the upheaval roiling their sector. Beyond Farfetch’s woes, in December, the ailing Matchesfashion sold to Frasers Group, which shut it down just months later. Yoox-Net-a-Porter remains up for sale by owner Richemont, whose deal to offload the loss-making company to Farfetch fell through.

Survivors haven’t gone unscathed. Ssense, known for its lengthy sales, slashed its workforce at the start of 2023 due to slower growth; from January to May, sales declined 17 percent from the year prior, according to Earnest Analytics, which analyses credit card data. Moda Operandi said in a statement to BoF that it did not see year-over-year growth in 2023 as it experienced flattening demand.

Still, the companies do appear to be on firmer footing than their peers. Mytheresa continues to report solid sales. Ssense and Moda Operandi are privately held, meaning they don’t have to disclose their financials. Ssense nonetheless claims to be profitable on its site, but would not confirm profitability to BoF. Moda Operandi said its sales to-date in 2024 are running at positive comparisons to last year and 2022, and that its resort and spring 2024 inventory had the highest full-priced sell through in its history. While it’s not yet profitable, it expects to be so “in the very near future,” CEO Jim Gold said in an emailed statement.

Experts say these multi-brand players are doing a number of things right: speaking to a specific customer and curating their assortment for them, as well as executing on the basics of retail, including customer service and managing costs and margins.

Customers, Content, Curation

E-tailers have historically been forced to compete on price, which leads to a cycle of discounting. In an effort to differentiate their offers, Ssense, Mytheresa and Moda Operandi have prioritised curation and honing in on a particular customer: Gen-Z for Ssense, top spenders for Mytheresa and runway watchers for Moda Operandi.

Moda Operandi’s virtual trunk shows — which gave shoppers first dibs on Chemena Kamali’s debut collection for Chloe through pre-order, for example — attract a shopper presumably similar to the site’s founder, New York-based socialite Lauren Santo Domingo. That appealed to The Frankie Shop, an influencer-favourite basics brand, which collaborated with the retailer on a capsule and pop-up shop in May.

“The woman they cater to, she’s confident. Why? She pre-orders,” said Frankie Shop founder Gaëlle Drevet.

Mytheresa churns out exclusive capsules tailored to its wealthy shoppers’ lifestyles — past partners include Valentino, Dolce and Gabbana and Brunello Cucinelli. Ssense, meanwhile, sees itself as the place for emerging designers.

“Our number one goal is, if [our shopper] already knows about a cool brand, they know we will have it first,” said Brigitte Chartrand, Ssense’s vice president of womenswear buying. “‘Of course Ssense has it’ is essential to what we do.”

The e-tailers use content and events to pull shoppers to the site and keep them there — which is increasingly expensive as advertising costs rise, and notoriously difficult because switching tabs is so easy.

“A curator doesn’t only curate ‘stuff.’ They curate a venue and make the stuff accessible to an audience,” said Thom Bettridge, Ssense head of creative and content. “We pick the stuff and have this way of speaking to the audience that brings a certain person there.”

For Ssense, that person knows what minimalist Japanese label Auralee is and is willing to give Rick Owens’ inflatable boots a go. Ssense publishes editorials online — recently, an ode to life in a Vaquera skirt with pink panties sewn on the outside — and fills its Instagram with memes to spur comments and shares. The content is meant to engage with its particular audience, rather than attract a wide one, said Bettridge. It’s the same on the merchandising side, said Chartrand: buyers are focused on picking the designers and products who directly appeal to its customers. The retailer also looks to fill gaps in its offering by introducing its own take on categories like bridal.

Mytheresa’s engagement with top customers often happens offline. It hosts special events for top clients — a trip to the Italian Riviera with Dolce and Gabbana or a private viewing of a New York Ballet rehearsal, for example — that make them feel like part of an exclusive club. In turn, clients shell out: top shoppers, who typically spend six or more figures on clothes annually, drive nearly 40 percent of the business, the retailer told BoF in January.

“Having two days with a customer brings it to an ultimate relationship, which is an emotional tie. And, as we’re selling luxury, an emotional tie is very valuable,” Isabel May, Mytheresa’s then chief customer experience officer, told BoF in January. (May has since left the company to join LVMH).

Retail Basics

Even online, the old principles of retail still apply, like the fact that, at its core, retail is a service business, especially in the case of luxury. Moda Operandi said one factor that has played to its advantage is that it puts more emphasis on personal shopping, exceptional customer service and high-touch relationships than on promotional digital marketing.

One source who spoke on condition of anonymity said companies that have struggled ignored the basic retail principles of curation and customer service, focusing too much on their balance sheets rather than serving shoppers in a way that would keep them happy paying full price.

Even the numbers they focused on may have been the wrong ones.

“We all have been falling for the massive trend of growth, because ultimately you follow the money, right? If valuations are a multiple of gross merchandising value, all you want is more [GMV] rather than anything else,” said Stefano Martinetto, CEO and co-founder of Tomorrow, a growth and development platform for brands.

This approach may have worked when money was cheap, investors were throwing cash around and shoppers across the income spectrum were splurging on luxury. But it proved unsustainable as market conditions changed.

Ariel Ohana, founder of investment firm Ohana & Co, which advised on the 2022 sale of beauty retailer Violet Grey to Farfetch, said companies that prioritise unit economics and profit over growth at any cost are the ones likely to prove more resilient.

“The paradox is that these companies operate in the business of high-end products, but they’re not high-margin companies,” Ohana said. “When you’re not in a high-margin business, a lot of the success relies on operational excellence, meaning managing costs.”

Moda Operandi, for one, said it has been cutting unnecessary costs across tech, marketing and distribution as it looks to be more efficient.

Of course, luxury retail is not a cheap business, and high costs are to be expected. But the spending should ideally go to improving the customer experience. Farfetch, by contrast, became enmeshed in numerous costly ventures that didn’t necessarily benefit the customer, like its acquisition of New Guards Group.

The Road Ahead

Pressure to scale can complicate matters, especially when it comes to maintaining margins and curation.

“Many of the strategies [that make e-tailers early successes] are often in conflict with the notion of scaling the business,” Ohana said. “As you scale you’ll have more brands and less curation, you’ll have more customers and you’re targeting a broader audience.”

The market has fresh challenges. Luxury sales will likely rise 1 percent to 4 percent in 2024, compared to 8 percent growth in 2023, consultancy Bain & Company forecasts. Big players are taking more of their e-commerce in-house, syphoning sales from multi-brand retailers, who are simultaneously facing higher customer-acquisition costs. To succeed, multi-brand e-tailers need to clearly articulate their value proposition and tailor marketing to the next generation of shoppers, said Federica Levato, senior partner and EMEA leader of fashion and luxury at Bain & Company.

Plus, there’s the still unanswered question of how many retailers the market can sustain — and how big they can get. Too many, and they could end up cannibalising each other or become trapped in the perpetual race to the bottom on price.

“We’ve been in situations where a rising tide lifts all boats. Now, when the tide is going out, who’s going to be left floating?” said Brian Ehrig, partner in Kearney’s consumer practice.

Since 2022, Netherlands-based tannery Ecco Leather, supplier to top luxury labels and parent company Ecco Group’s namesake shoe brand, has brought in casts of creatives to design for its collaborative project aimed at raising awareness for the material’s potential, At.Kollektive. For its fifth season, the project will get a new name — Ecco.Kollektive — and include work from British menswear designer Craig Green, Christa Bösch and Cosima Gadient, the duo behind Berlin-based womenswear line Ottolinger and French menswear designer Louis Gabriel Nouchi.

The collection, which includes shoes, accessories and ready-to-wear, will be presented at men’s week in Paris on June 20. Green’s designs for Ecco.Kollektive will also be shown in his Spring/Summer 2025 presentation in London on June 5. Prior Ecco collaborators include Kiko Kostadinov, Bianca Saunders, Peter Do and Nina Christen.

Green’s designs are more casual, menswear products. Ottolinger’s pieces are feminine and make leather look different than shoppers are used to, while Nouchi twists leather in a way that makes it appear more premium, said Panos Mytaros, CEO of Ecco. The collection will be available on the project’s site and select retailers including Ssense, Nordstrom and Kith Tokyo from November, with prices starting at €225 ($244).

Mytaros said the name change represents a maturation of the programme and was driven by a desire to make the tie to Ecco more clear.

“The goal was to unite everything we do under one umbrella … and put even more emphasis on [the fact that] there is this powerhouse behind this, and the name is Ecco,” said Mytaros.

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London-based womenswear brand Chopova Lowena has been named the winner of the 2024 British Fashion Council/Vogue Designer Fashion Fund.

Founded by Central Saint Martins graduates Emma Chopova and Laura Lowena in 2017, Chopova Lowena is known for its mixture of folksy and sportswear design elements — seen in its popular pleated and pinned kilt-style skirt — and use of deadstock fabrics.

The designers will receive a cash prize of £150,000 ($190,000) and access to mentorship. Ahluwalia, Knwls and Nensi Dojaka were among the labels shortlisted for the prize.

”This duo has built a real community around their brand and the cult of their signature carabiner skirts is a testament to what they do,” said Chioma Nnadi, British Vogue’s head of editorial content. “When it comes to a creative vision, they’ve fearlessly marched to the beat of their own drum, challenging conventional fashion system rules.”

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Emerging British label 16Arlington, founded by Marco Capaldo and the late Federica “Kikka” Cavenati, has been awarded this year’s BFC/Vogue Designer Fashion Fund prize, receiving a £150,000 cash prize and business mentoring.

Days after Colm Dillane presented the Louis Vuitton’s Autumn/Winter 2023 menswear collection he guest designed for the brand, the founder of Brooklyn-based streetwear label KidSuper brought the fashion world back together — and made fun of it.

On Feb. 13, 2023, the designer recruited model Tyra Banks, musician J Balvin and comedians Jeff Ross, Yvonne Orji, Stavros Halkias and Andrew Schulz to put on a stand-up show, which doubled as KidSuper’s Autumn/Winter 2023 show, “Funny Business” at the Casino de Paris. There, in front of an audience of around 1,500, the entertainers — dressed in the latest KidSuper collection — lampooned Balenciaga, fashion week, and made jokes about women, weight, diversity and Parisians. Schulz’s closing set started with a bit that mixed discussion of Alexander Wang’s sexual assault accusations and description of Dillane’s manhood. Nearly everyone commented on how silly they looked in the clothes, which included colourful suits, jackets, tracksuits and puffers detailed with Dillane’s prints, patchwork and embroidery.

After it was over, Dillane’s first thought was ‘how do I do it again?’

“There was this amazing fish out of water moment that everyone was a kid for a little bit. The fashion world didn’t understand the comedy world, the comedy world didn’t understand the fashion world and everyone lost their mask or armour,” recalled Dillane. “I couldn’t believe I created this world where Theo Von, Tyra Banks and J Balvin are riffing jokes.”

It turns out, he didn’t have to wait too long. On Sunday, Dillane took to the stage again, curating a “Funny Business: Fashion is a Joke” set for the “Netflix is a Joke Festival,” a week-long comedy event the streamer stages annually in Los Angeles. Comedians Joel Kim Booster, Trevor Wallace, Zainab Johnson, Mark Normand and Mark Gagnon took to the stage, naturally, wearing KidSuper head-to-toe.

The event didn’t draw nearly as large a crowd, but Dillane is hoping to make KidSuper comedy shows a yearly occurrence — and leverage the moment into fulfilling bigger Hollywood ambitions including a TV series based around the KidSuper brand and his story, which he’s currently pitching to studios.

Since his entry into fashion over a decade ago, Dillane has emerged as one of the industry’s buzziest young talents. While his design skills have earned him a joint-win of LVMH’s Karl Lagerfeld Prize in 2021 and a nomination for CFDA menswear designer of the year in 2023, his world-building prowess has propelled Dillane from selling shirts out of his NYU dorm to Louis Vuitton and beyond. In particular, it helped him to establish the KidSuper brand, which retails at Neiman Marcus, Ssense and Luisaviaroma — and has collaborated with Canada Goose, the NBA, Coca-Cola and Puma.

“Building your brand and your story is super important. If you have a great foundation you can scale it,” said Dillane.

Multi-Hyphenate Brand-Building

Dillane’s work has always been about more than just fashion.

The late rapper Mac Miller was one of his earliest fans, while the musician Russ recorded songs for his first platinum album “There’s Really a Wolf” in a makeshift recording studio Dillane set up in the basement of his first design space in Brooklyn.

In the years since, he’s continued to engage with music (Dillane just directed a yet-to-be released music video for rappers Quavo and Giggs, based on a song made for the soundtrack of his last show), soccer (Dillane is a hardcore fan whose love of the sport brought about an ongoing partnership with Puma) and art (he just did a show of paintings at Frieze), which makes it feel authentic when he brings his brand into those different venues.

“It’s not like, ‘I’m a fashion designer and I’m dipping into this other area,’ he is in those areas,” said Julie Gilhart, president of Tomorrow Projects.

Having built a following in New York, his star began to rise after his first presentation on the official Paris Fashion Week calendar in August 2020. Unable to showcase his designs in person due to the pandemic, he presented them in a stop-motion short film that featured tiny versions of his clothes on Pelé, Salvador Dali, Elon Musk, Naomi Campbell and Stephen Hawking dolls — and a fake Anna Wintour, Queen Elizabeth and Kim Kardashian in the audience. For his next collection, he made a pilot episode for a would-be TV show “The MisAdventures of KidSuper,” and was later signed by talent agency William Morris Entertainment.

Since then, he’s continued to push the envelope when it comes to presentation, with a runway at a mock auction — which he dubbed “Superbys” — of his own paintings in 2022. He starred in a self-written and directed play about creativity called “How to Find an Idea” for his Spring/Summer 2024 show in August. His latest runway, titled “String Theory,” featured Brazilian soccer star Ronaldinho and a dramatic finale where a sweater unravelled as the model walked down the runway.

Getting tapped to design for Louis Vuitton in 2023 launched Dillane into a different stratosphere of attention, and the interest extends off the runway, too. In September, after Travis Kelce wore his “Bedroom Painting” denim set at the peak of Taylor Swift dating intrigue, Dillane renamed it the “1989 Bedroom Painting” set — which made it go viral.

“He’s just a bundle of ideas and creativity,” said Gilhart. “He’s different in terms of how he approaches fashion and the fashion system.”

The connection to comedy came naturally. Known for its bright coloured clothes featuring arty sketched characters derived from Dillane’s painting — his signature purse features a drawing of two faces kissing — KidSuper’s brand is centred around levity and creativity from the designs to Dillane’s methods in showing them. Dillane put on a few local shows in New York in 2018. Plus, he considers himself “a stand-up comedian in his head.”

Building his brand in adjacent spaces is a business move as well. Independent designers often have to find ways to make money outside fashion to survive now — and they increasingly have to build their own personas to get opportunities, said Dillane.

“[Collaborators] are like ‘What do you represent that can help the brand grow? It’s a tough time,” said Dillane.

KidSuper is self-funded (save his $150,000 LVMH Prize co-winnings), and Dillane is reluctant to give up equity. Instead he relies on collaborations — KidSuper has worked with Puma since 2020, Canada Goose on a capsule in 2024, Meta, The NBA, Stuart Weitzman and even bean bag and couch-maker Lovesac, toy company Superplastic and Starbucks in 2023 — to keep the bottom line growing while still being able to take creative risks.

He’s currently building out the brand’s ambitious headquarters, a 10,000 square foot complex in Williamsburg, “KidSuper World.” The storefront opened during New York Fashion Week in March, sells KidSuper goods with a supermarket-style check out, a library and laundromat-inspired shelving, an art gallery, a screenprinting studio, a Jagermeister-themed private bar and an ultra-detailed campsite-themed studio where comedian Mark Gagnon films his “Camp Gagnon” podcast. Still to come is a food truck and public outdoor space, recording studio and a soccer field on the roof, said Dillane.

Put altogether, it’s meant to build the dream — and sell the clothes.

“I’m biased, but if I was a consumer, I would be like ‘KidSuper is the best brand ever,’” said Dillane. “What other brand is doing a comedy show? Let alone the 10 other cool things I’m doing.”

Today, LVMH announced the eight designers shortlisted to compete for the 11th edition of the LVMH Prize for Young Designers, Karl Lagerfeld prize and inaugural Savoir-Faire Prize for craftsmanship.

The finalists are Julian Louie’s Aubero, Duran Lantink, Ellen Hodakova Larsson’s Hodakova, Marie Adam-Leenaerdt, Niccolò Pasqualetti, Paolo Carzana, Pauline Dujancourt and Standing Ground by Michael Stewart.

On Sept. 10 the designers will present their collections at the Louis Vuitton Foundation in Paris. Designer Phoebe Philo and Louis Vuitton menswear creative director Pharrell Williams were added to the jury which also includes Loewe designer Jonathan Anderson, Dior creative director Maria Grazia Chiuri, Louis Vuitton womesnwear creative director Nicolas Ghesquière, designer Marc Jacobs, Dior CEO Delphine Arnault and LVMH Fashion Group CEO Sidney Toledano.

The winner of the LVMH Prize will be awarded €400,000 ($428,000) and the winners of the Karl Lagerfeld and Savoir-Faire Prizes will win €200,000. All winners will receive mentorship by LVMH.

Learn more:

Satoshi Kuwata’s Setchu Wins the 2023 LVMH Prize

The Savile Row-trained Japanese designer will receive a grant of €400,000 and mentoring by luxury’s biggest group. Italy’s Magliano and London-based Bettter, winners of the runner-up Karl Lagerfeld prize, will receive €200,000 each.

French fashion house Balmain has appointed Matteo Sgarbossa as chief executive, effective May 6.

Sgarbossa succeeds Jean-Jacques Guevel, who left the Mayhoola-owned business in March 2024. During his tenure, Guevel led the company through the pandemic, boosted the brand’s entry-level offer with the introduction of a monogrammed canvas range and public shows and inked a fragrance licensing deal with Estée Lauder, slated for release later this year.

Sgarbossa will be tasked with fuelling the next phase of growth for the brand alongside longtime designer Olivier Rousteing. He joins from Givenchy, where he served as international director, and previously held roles at Gucci and Mango.

The brand has not yet named a successor to marketing chief Txampi Diz, who also exited in March.

Learn more:

Balmain: The House Olivier Rousteing Rebuilt

The designer’s extravagant vision and charismatic persona have taken the Parisian luxury house’s annual sales from €20 million to €300 million, Rousteing revealed in an exclusive interview with Laurence Benaïm which covers opulence, longevity, diversity and the aftermath of a shocking robbery.

Throughout the 2010s, The Row founders Mary-Kate and Ashley Olsen were routinely photographed carrying Hermès’ famed Birkin bag. Now, they seem to have created their own version.

The ultra-quiet luxury label is usually best exemplified by the phrase “if you know, you know” — and thanks to its smash hit Margaux bag, a lot more people are in the know. The Margaux has become a celebrity status symbol — Zoe Kravitz, Jennifer Lawrence and Kendall Jenner have been snapped carrying The Margaux — and more recently, a TikTok phenomenon. On the app, the hashtag #Margauxbag has nearly 2 million views and users are dubbing it the “new Birkin.” In December, Vogue called it an “heirloom in the making.”

Demand for the carryall tote, which starts at $3,490 and is sold in a number of sizes and materials including suede, leather and even alligator skin, is surging. In January, fashion search platform Lyst named the Margaux fashion’s hottest product.

An ‘It’ bag is the latest win for the Olsens, who launched the brand in 2006. Known for its sleek virgin wool coats, precisely tailored blazers, plush cashmere loungewear and leather thong sandals, The Row has long been beloved by wealthy shoppers and fashion insiders. In the past year, however, it’s reached another level in the cultural conversation, thanks to the quiet luxury craze that dominated fashion in 2023.

Wearing The Row has come to signal a degree of savvy — and bags are the best way to telegraph a wearer’s allegiance to a brand. Leather goods are famously the foundation of the luxury fashion business — and a breakout bag is the holy grail. The Margaux’s exclusionary starting price, especially from an independent brand, makes its widespread popularity all the more impressive.

“It’s rare. You can count on one hand how many times a bag becomes a major success, especially one coming out of what is considered a small brand,” said Robert Burke, New York-based fashion consultant.

Beyond an identifiable design and emphasis on quality materials, The Row pulled a few strategic levers, including controlled distribution and steady release of new colours, shapes and materials by season to make the bag a success.

The Mystique of the Margaux

While its use of quality materials puts it in league with Loro Piana and Brunello Cucinelli, The Row’s design speaks to an edgier client, said Neelam Ahooja, a stylist who runs an Instagram and YouTube channel dedicated to The Row. She compares the label to the likes of Dries Van Noten, Comme des Garçons, and Maison Margiela, which developed cult followings for distinct visual language of the brands’ designs.

“For me [The Row] is a way of life, I want my life to have richness, I don’t want it to be overcomplicated, I want it to be comfortable,” said Ahooja, who currently owns seven Margaux bags.

Legacy luxury labels, meanwhile, are increasingly relying on re-editions of tried-and-true shapes, said Burke, making a new silhouette feel especially fresh. As well, there’s something about the utilitarian, slouchy but classic shape that’s resonating with consumers right now.

“There hasn’t been as much newness with some of the more iconic brands, [The Row’s] timing was especially good for introducing this,” said Burke.

Due to its high price point, it took a few seasons to catch on, said Mytheresa chief buying officer Tiffany Hsu, but the e-tailer is now seeing an influx of requests for the bag.

Still, it’s hard to get a hold of the Margaux: 85 percent of bags introduced to online retailers including Bergdorf Goodman and Mytheresa in 2023 sold out, according to retail analytics firm Edited, only adding to the lore surrounding it, as TikTok users create videos with tips on how to score one. Ahooja gets a few unsolicited offers to buy her bags per week on Instagram.

The role of Millennial women, who came of age watching the Olsens on screen and now have “grown-up money” shouldn’t be discounted, said Jessica Graves, who writes the shopping newsletter The Love List. At a time when consumers are especially conscious about what fashion projects about their socioeconomic status, the bag has taken on a new meaning.

“Before, it was a customer who wanted a bag that was very unknown, but beautiful quality,” said Hsu. “Now, it’s a statement.”

Building a Leather Goods Business

Strategically, The Row has done a few key things right to make The Margaux a breakout hit.

Each season, The Row refreshes the Margaux, introducing new materials, colours and riffs, but sticking to the same signature shape. The bags come in suede and pebbled and smooth leather; some are made with canvas rather than leather lining. It also sells versions with new design elements, such as clipped corners, a belt and unfinished, raw seams.

In addition to its handbag-sized 10-inch and larger tote formats at 15 and 17-inches, the range now includes a mid-sized 12-inch with a functional crossbody strap, built to appeal to a wider range of customers. At the other end of the spectrum, the limited-edition alligator Margaux sells for around $50,000 — if they hit retail at all. Regular reiterations like these creates a sense of newness, helping to bring new customers into the fold, encouraging existing ones to buy more.

Outside The Row’s three stores and e-commerce site, The Margaux is sold at Mytheresa, Saks Fifth Avenue, Net-a-Porter and Bergdorf Goodman. Though the bags often sell out, the brands’ best customers are kept in the loop on new drops. The Row’s selective approach to distribution is reflected in its understated marketing. Its Instagram is more of a moodboard, with clothes posted between objects and art like a Marc du Plantier table lamp from the 1960s and Salvador Dalí's “Room with a Sofa.” Some rare, full-page ads solely feature just the brand name, with no products in sight. Shows feel like they’re created especially for buyers and press, said Hsu, not for viral social media moments.

“Creating scarcity is one thing they do really well … it makes it quite special when you discover something from The Row, it’s like an insider thing,” said Hsu.

As the brand increases the amount of bags it puts on the market, retailers have cut back on discounting, according to Edited. As of Feb. 1, just 1.9 percent of Margauxs available on sites analysed by Edited were discounted, compared to 5.7 percent in 2021. Searches on resale platform Vestiaire Collective were up 170 percent in January 2024 vs. December 2023. On The RealReal, the Margaux now resells for over 80 percent of its original retail price on average, up from 62 percent in 2019, Kelly McSweeney, senior merchandising manager told BoF in an email. Still, it’s a far cry from the Birkin, which can more than double in value on the secondary market.

Will the Margaux reach Birkin status? That remains to be seen — but The Row seems to be on the right track.

For the debut of her latest collection Sunday night, Elena Velez promised something unusual: a salon dedicated to a nuanced discussion of Margaret Mitchell’s novel “Gone With the Wind,” where fashion critics would join writers and pundits in exploring the complexities of art and censorship.

“What I really want to do is build a community of people who are pushing the discourse forward in different interesting ways,” Velez told BoF the day before, “and who aren’t necessarily the first people that you would think of when you consider the fashion week attendance but who are equally as passionate about aesthetics and culture in a new way.”

The salon attempted to grapple with the controversial novel, which is one of the most popular works of fiction ever published, as is its complex heroine Scarlett O’Hara. But Mitchell’s book, and the movie based on it, also glorifies the Confederacy, and has fallen out of favour with many readers in recent decades. Topics on Sunday ranged from why Mitchell’s book is considered pulp, rather than a great American epic, to which fragrance Scarlett O’Hara might wear (the consensus landed on Thierry Mugler’s Angel).

But it quickly became clear why there was a strict “no phones allowed” policy at the door.

The evening took turns into the far reaches of both ends of the political spectrum of the sort rarely seen at fashion week, where brands typically opt for spectacle designed to go down easy on Instagram.

Along with familiar front row mainstays, including fashion critics and Julia Fox, guests were drawn from Dimes Square, a neighbourhood nestled near Manhattan’s Chinatown, initially known as a nexus for downtown New York culture-makers, and now as a hotbed for a sort of meme-driven, anti-woke political discourse. Among the featured attendees were Anna Khachiyan and Dasha Nekrasova, whose “Red Scare” podcast Elena Velez has guested on (the show has its roots in the far left, but isn’t so easily categorised; Infowars founder Alex Jones has also been featured.) Velez’s sponsors included the Common Sense Society, Encounter Books and Passages Publishing, which are mainly associated with right-wing speakers and authors.

Sitting in her own Elena Velez corset, Khachiyan said “I can’t breathe,” to which an audience member shouted in: “Say her name.” (Both phrases are associated with the Black Lives Matter movement). She described herself, sarcastically, as a “libtard.”

Asked about the juxtaposition of controversial opinion and ready-to-wear, a spokesperson passed along a response from Velez: “I’d challenge the audience to consider multiple truths.”

The day before the salon, Velez said that this alternative format and the dialogue was not meant to be provocative for its own sake.

“I take umbrage with the word provocative, honestly, because I think that it infers and it implies a sense of irony and carelessness that I just don’t relate to or identify with,” she said. “I care very, very much, and I want truly, so badly to be understood.”

Velez’s talent is recognised by the fashion industry – she’s won many prestigious awards including the CFDA prize for emerging designer of the year in 2022. Last week, she was named a semifinalist for the LVMH Prize. Even so, her relationship to the fashion world is uneasy.

She’s been forthright about how acclaim hasn’t resulted in financial security, and has used her growing visibility to poke back at the fashion system. Last season she sent models stomping through a makeshift mud pit in an old Bushwick factory. In the middle of the finale, the models broke rank — fighting and flailing and dragging each other through the mud.

On Sunday, guests could view models in Velez’s signature corsets leaning over a spread of food, then mixed in with with the crowd during the discussion. The 10 looks included layered gowns that mixed high-end silks with humble acetate, drawing inspiration from Gone With the Wind’s O’Hara, who facing dwindling resources after the Civil War, tears off curtains to fashion a new ball gown.

The clothes, said Velez, were meant to paint a portrait of various psychological states — and American women in the face of apocalypse and collapse. Velez says the book “Sexual Personae” written by academic and cultural critic Camille Paglia has been formative to her conception of her brand. It’s Paglia’s riffs on O’Hara – insecure yet intelligent, petty but also courageous, and straining against patriarchal structures of the era – that Velez found “titillating.”

“I’m the daughter of a single mother who’s a ship captain on the Great Lakes,” Velez told BoF. “I come from Wisconsin. I’m [of] a lower socioeconomic class. I really identify with this feeling of the shrewd and wily woman who’s trying to transcend circumstance and really make something of herself in America, you know?”

As the discussion wound down, Khachiyan and co-host Jack Mason, a writer and podcaster, asked the crowd if they had any questions.

“This is a fashion crowd, they don’t like asking questions,” an audience member said.

The crowd emptied out of the mansion and headed to Sovereign House, an underground discussion and performance space in downtown Manhattan.

“Can you imagine if every fashion show had one of these talks?” asked Khachiyan.