FashionUnited's highlights of October '18
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Fashion
As October comes to an end, FashionUnited takes a look back at the the biggest news to hit the world of fashion.
Millennials willing to spend more on luxury, Gucci & Louis Vuitton most popular brands
Consumers born between 1981 and 1997, also known as the Millennial generation, are feeling positive about their personal finances. Consequently, they are planning on spending more on luxury. That’s according to a survey with over 3,000 respondents from the US, France, Italy and China, conducted by investment bank and financial services company UBS.
Best Global Brands 2018: luxury growing faster than all other sectors
While Apple, Google and Amazon are once again the world’s most valuable brands, luxury labels were the biggest stars on this year’s Best Global Brands ranking, unveiled today by brand consultancy firm Interbrand. Published since 1999, the ranking attributes a monetary value to brands with a worldwide presence, based on several aspects such as their financial results, influence and brand strength. Luxury was this year’s top-performing category, having grown 42 percent in brand value in 2017.
Fashion’s obsession with youth more bankable than ever
New York - One of the pushbacks against Hedi Slimane’s Celine debut seems to be that he has effectively replaced Phoebe Philo’s grown-up, self-assured, sophisticated woman with her teenage daughter. A gawky, rebellious waif straight from central casting who stays out all night in barely-there clothing is the French house’s new message. But of a collection which the designer had entitled “Journal Nocturne de la Jeunesse Parisienne,” what did we expect?
Post-Slimane’s Celine, 5 epic design debuts that bombed
As we step over the critical carnage of Hedi Slimane’s debut collection for Celine, and the puzzling disappointment of Riccardo Tisci at Burberry, let’s regain perspective by reviewing some key moments throughout fashion’s history where the hired gun at a beloved house shot himself in the foot but still hobbled on towards victory. In fashion no one is too big too fail.
The business of hype: why so many fashion brands are now doing “product drops”
16 seconds. That’s how long it took for Rimowa’s suitcase collection in collaboration with streetwear brand Supreme to sell out, despite its starting price of 1600 US dollars. Both labels announced the collaboration by simply posting a picture of the product on social media, alongside its release date: a mere three days ahead. This sales tactic, which consists of releasing a limited-edition product or collection in small quantities at select retail locations, without much advance warning, is what we have come to know as a “drop”.
War for talent: fashion professionals lack skills, reveals worldwide study
The fashion industry is in dire need of professionals with technical skills, as universities stopped providing students with skills related to functions which are usually outsourced. Now, technologies such as 3D design, big data and artificial intelligence are widening the gap even more, as academia struggles to keep up with such a fast-paced market.
Upcycling goes luxury pointing to a fashion uprising
Upcycling might seem like a millennial phenomena but it’s been around for a while. Remember when Molly Ringwald in “Pretty in Pink” remade the Pepto-Bismol-colored polka dot 50s dress her father bought her, recycling decorative bows into stand-up collars, into a dress for the prom. Or back even further to when Scarlett O’Hara instructed Mammy to tear down the drapes and make her a dress in “Gone With The Wind.”
Amazon raises minimum wage to 15 US dollars for all US employees
Amazon is increasing its minimum wage to 15 US dollars an hour for all full-time, part-time, temporary and seasonal employees in the United States, after a report by nonprofit organization New Food Economy exposed the e-tailer is one of the American companies with the most employees receiving SNAP benefits, also known as food stamps.
Allbirds expands sustainability in footwear with 50 million dollars in funding
New York - San Francisco-based sneaker startup Allbirds is preparing to go global. The two-year-old company just received a new 50 million USD in funding from investors T. Rowe Price, Fidelity and Tiger Global, which brings its total funds raised to over 75 million USD, with backings from Lerer Hippeau Ventures, Leonardo DiCaprio, Scooter Braun, Maveron and others.
These are the fashion brands US teens are obsessed with
Nike is American teens’ brand of choice for both clothing and footwear, according to Piper Jaffray’s 36th semi-annual survey of US teens spending habits. However, the sportswear giant should keep an eye on Vans, as the brand from VF Corporation grew an impressive 800 points year-over-year, snatching the second place on the list of favorite footwear brands. The increase came particularly from teenage girls: if only girls were considered, Vans would take the first place.
Homepage photo: Marine Serre SS19, Catwalkpictures.com