CEO John Koryl on how The RealReal will reach profitability in 2024 When John Koryl joined luxury resale platform The RealReal as CEO in February, he hit the ground running. And eight months later, the company’s investor trust was restored. In early November, The RealReal reported its third-quarter earnings for the period ending on September 30, revealing both revenue and profit that...
MCM’s Dan Manioci: ‘You have to be quick and respond to the customer in real time’ In 2023, MCM launched a company-wide plan that included updating the creative team and upping the focus on digital channels and young shoppers. Manioci discussed the brand’s new focus, including how it’s resonating in the rapidly evolving luxury climate. He also shared the strategy behind MCM’s recent presence at men’s fashion...
Fashion Briefing: How Veronica Beard is using personal invitations to drive in-store sales Since rolling out a clienteling app to its store associates in June, 13-year-old contemporary fashion brand Veronica Beard has made a habit of using text messages to invite customers to stores for mini-events. These gatherings focus on activities such as shopping the latest collection or raising money for a cause....
J.McLaughlin CEO Mary Ellen Coyne on achieving high AOV, high LTV and high margins "I'm firmly a leader who believes in testing and learning," Coyne said on the latest episode of the Glossy Podcast. In the last seven years, she's had "a field day" leading improvements to the brand's products, processes and overall presentation, she said. "We've re-platformed every segment of the business, and it's...
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,...