Luxury Briefing: Pinterest will be a ‘crucial platform’ for luxury brands in 2024 As luxury brands become more strategic about their social media strategies and reprioritize resources, Pinterest is gaining new traction. Its valuable user base, thriving product categories, comparative lack of congestion, recently launched tools, and opportunities for discovery, storytelling and commerce have earned it a growing number of luxury clients. Some...
Tapestry CEO Joanne C. Crevoiserat on the Capri Holdings acquisition: ‘We are competing with very large global competitors’ In August, Tapestry, Inc. announced its $8.5 billion acquisition of Capri Holdings Limited, expanding its brand portfolio beyond Coach, Kate Spade and Stuart Weitzman to also include Michael Kors, Jimmy Choo and Versace. The merger was led by Tapestry CEO Joanne C. Crevoiserat, who had only landed in her role...
Me+Em’s Clare Hornby: We’ve maintained our ‘price-quality equation’ by only selling DTC Clare Hornby's 14-year-old fashion brand, Me+Em, has hit its stride. From 2021 to 2022, it grew its revenue from £46 million to £80 million. What's more, it's been profitable for seven years. That's despite selling exclusively direct-to-consumer, when, it seems, every digital native brand is falling back on wholesale partners.
5-year-old Still Here brings its downtown cool to a new Madison Avenue store Still Here is in growth mode, having doubled its revenue this year, which can be owed, in part, to organic virality striking twice: Its Cool Jean style became a cult favorite, with consecutive restocks rapidly selling out. Meanwhile, its logoed hat became a Swiftie uniform staple at a time when,...
CEO Jennifer Wong on ‘setting the stage for the next level of Aritzia’ The Vancouver-based fashion retailer has recently experienced exceptional growth, going from $857 million in the fiscal year ending in February 2021 to $2.3 billion in sales three years later. Fueling that success has been the company’s increased prowess in digital channels, expansion in the U.S. and organic virality on TikTok,...
Pistola’s Grace Na on winning customers with an ‘opening premium price point’ Ten years ago, Grace Na launched her L.A.-based denim brand Pistola after seeing a white space in the market. "A lot of the premium labels were owned and run by men, and the premium price point was really expensive," she said. “There was a miss for an opening-premium-price-point denim line...
Luxury Briefing: Is a focus on wealthy consumers good for business?  Fashion companies are continuing to raise prices, even as luxury consumers seek out discounts. At the same time, luxury retailers catering to wealthy customers are newly showing mixed results. Consultants are now urging fashion leaders to increasingly leverage data when making price hikes to best ensure alignment with consumer demand.
Summersalt’s Lori Coulter and Reshma Chattaram Chamberlin on success beyond swimsuits and e-commerce A lot has changed for Summersalt since 2017, when it launched as an online-only, perfect-fit swimsuit brand and quickly gained popularity on Instagram. For starters, it has since expanded to product categories including sleepwear, activewear and intimates, Plus, it now operates stores, on top of its e-commerce site, allowing customers...
Luxury Briefing: LVMH’s newly acquired ‘quiet luxury’ brand provides opportunity for growth The latest acquisition by LVMH's Thélios, of California-based eyewear brand Barton Perreira, reflects a focus on gateway luxury products, growing luxury categories, “quiet luxury” and differentiation via product quality.