Episodes
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Brand collaborations were once rare, highly anticipated events that generated significant buzz. But as they have become more frequent, the challenge lies in creating partnerships that genuinely resonate with consumers and cut through the noise.
This week, executive editor Brian Baskin and senior correspondent Sheena Butler-Young sit down with BoF correspondent Lei Takanashi and editorial fellow Julia LebossĂ© to explore the state of brand collaborations, what makes them succeed or fail, and where theyâre headed next.
To work, collaborations need to feel authentic. For brands, âletting their collaborators take the wheel and just do what they want to do is really key,â says Takanashi. âWhen brands collaborate successfully, itâs often because they give creative freedom to the collaborator, allowing them to use the materials they want and tell a story that feels true to their audience,â adds LebossĂ©.
Key Insights:
Poorly thought-out collaborations often fail to connect with audiences and just wonât cut it anymore. âWhen it's done lazily, consumers can tellâ, explains LebossĂ©. âWe're becoming much smarter, really looking into brands and what they're doing and what makes sense. ⊠That's why brands really have to step up in terms of what they're doing.âItâs not just big brands that can make waves with collaborations. LebossĂ© pointed to a sneaker collaboration between Bimma Williams and Saucony as an example where a smaller brand excelled. âTheyâre showing that, hey, we can do innovation,â explains LebossĂ©.Brands are finding even greater value in creating physical experiences around collaborations. Takanashi points to the Corteiz x Nike collaboration, where prospective buyers participated in scavenger hunts to buy the shoes. âIf someone told me that kids would be lining up to buy Huaraches in 2025, I would not believe them at all,â he says. âBut thatâs the thing. This brand got kids waiting for hours in the freezing cold to buy their sneakers. Itâs really that IRL experience that consumers are looking for when it comes to releases these days.âAdditional Resources:
Why Fashion Needs the Art World More Than Ever | BoFWhy Are Sneaker Collaborations So Boring?Hosted on Acast. See acast.com/privacy for more information.
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In todayâs fashion landscape, many of us find ourselves caught in an infinite scroll of influencers. But in 2024, one couple captured the internetâs attention like no other: Lucky Blue Smith and Nara Smith.
From making cereal from scratch to becoming one of fashionâs most sought-after duos, their rise has sparked both praise and criticism. For millions of people following online, their content offers a glimpse of domestic bliss and authenticity; for others, it raises eyebrows, stoking wild conspiracy theories. As a result, the young couple has found themselves in the glare of the social media spotlight.
And as the Smiths revealed at BoF VOICES 2024, theyâve come to learn that not everyone will understand who they really are.
âItâs the internet. You canât believe everything you hear and see,â Lucky says. âPeople really see through all the fakeness. And if you're really authentic, then that's really compelling to a lot of people,â adds Nara.
Key Insights:
Lucky Blue Smith rose to fame at an extraordinarily young age. At 16, he became the male model of the moment with covers of major magazines and appearances on runways around the world. Reflecting on the challenges of early fame, he shares, âWhen you go through a big viral moment and youâre all over social media, you can kind of become, in a way, self-conscious ⊠But meeting [Nara], it was like I felt like I could be my true self for the first time in a while in front of someone.â For Lucky, learning to navigate online scrutiny has been crucial. âItâs the internet. You canât believe everything you hear and see ⊠You just have to try to focus on the positive and move forward.âNara Smith underscores the importance of authenticity in connecting with her audience. âAs long as youâre authentic to yourself and youâre living your best life and not being fake, thatâs kind of how you can get to a point where you might be a really successful influencer,â she says. âPeople really see through all the fakeness.â As an influencer, she said she credits honesty and transparency as key to her success in the creator economy.Despite the perfect-looking presentation in her videos, Nara Smith shares the often unseen effort and dedication required to succeed in the creator economy, challenging assumptions that content creation is easy or low-effort. âWhat youâre seeing on the screen is a minute and 30 seconds. But Iâm in my kitchen seven hours a day cooking and then putting my kids to bed and then editing for another two hours. And thatâs every single day. I donât take days off,â she reveals. Reflecting on the evolving nature of personal growth and success, Lucky Blue Smith believes that living your best life is an ever-evolving journey. "I donât think youâre ever going to land somewhere and say, âYes, this is my best life.â You always want to level up and move forward and challenge yourself,â he shares. His perspective highlights the importance of continuous growth and self-improvement, even amidst the pressures of fame and notoriety.Additional Resources:
BoF VOICES 2024: The Power of Purpose BoF VOICES 2024 Concludes With Gala CelebrationHosted on Acast. See acast.com/privacy for more information.
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Episodes manquant?
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Public relations in fashion has transformed drastically from securing magazine features to managing 360-degree brand storytelling. PR agencies now navigate everything from influencer partnerships to event management, social media strategies, and beyond. However, choosing the right PR agency is no small feat, especially for smaller brands or those at critical growth stages.
âHaving a PR agency that really feels like a genuine organic extension of your team ⊠is what's going to enable you to plan together and collaboratively work on goals that you're super aligned on,â shared marketing correspondent Haley Crawford.
Executive editor Brian Baskin and senior correspondent Sheena Butler-Young sit down with Crawford to discuss how brands can evaluate potential PR partners, the challenges and opportunities in the modern PR space, and how to ensure a successful collaboration.
Key Insights:
The PR industry has evolved significantly. In the past, PR agencies focused on securing mentions in traditional editorial formats, with the ultimate goal being a feature in Vogue or Harperâs Bazaar. Today, their capabilities have expanded. As Crawford explains, âthis allows them to represent brands across the full spectrum of physical and digital spaces where shoppers are really interfacing with them and discovering them. ⊠The agency's role is to facilitate telling a cohesive story across all these facets.âBuilding relationships remains central to PR success. âThe ability to build and maintain relationships has always been such a central skill in PR, but it looks totally different today than it did a couple of years ago,â says Crawford. âToday, publicists really have to go above and beyond to use those relationship building skills to build communities around the brand. And I think what really helps is being passionate about the brands that you choose to work with as well.âAs artificial intelligence increasingly influences brand strategies, PR agencies must adopt innovative, human-centric approaches to distinguish themselves. This involves âfacilitating an unexpected partnership ⊠bringing events to life that really bring consumers that much closer to the brands they loveâ and helping brands â to get in front of new audiences that might be unexpected.âWhen you're meeting with a potential PR partner, Crawford advises to think of it as a job interview. âCould you see them being part of your in-house team? Are they clearly passionate about developing your brand story and taking it to the next level?âAdditional Resources:
How to Choose a PR Agency | BoFWhat Fashion PR & Communications Professionals Need to Know Today | BoFHosted on Acast. See acast.com/privacy for more information.
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Bethann is a former model, agent, and advocate who has been agitating for a more inclusive fashion industry for more than half a century.
Bethann launched her own modelling agency in 1984, pushing for representation and equal pay for Black and ethnic minority models. Meanwhile In her personal life, she was a working mom, and a woman that in her own words, âhas no sense of retirement in her DNA.â
"When I say racial diversity, I mean I want to still see a redhead. I donât want an all-Black anything,â Hardison says. âI want to make sure our world remains completely integrated. Thatâs the most important thing.â
This week on the BoF Podcast, we revisit conversation from BoF VOICES 2024 where Bethann spoke with London-based British-Jamaican designer Bianca Saunders about her inspiring career journey and the state of the fashion industry today.
Key Insights:
Hardisonâs approach to diversity in the fashion industry was intentional from the start By strategically building an agency that mirrored the diversity of the world around her, Hardison disrupted the norms of a predominantly white industry. âI didnât want to have a Black model agency,â she says. âI think it's very important when you have to compete, you have to compete against the people who are running it.â Her decision to compete directly with white agencies allowed her to challenge systemic biases from within, making representation a matter of strategy, not tokenism.For much of her career, Hardison worked tirelessly without stopping to reflect on her impact: âWhen people come up to me and say, âThank you so much. I love you. Youâre such an icon,â ⊠When youâre doing the work, you donât think of it as significant. You just want to get things done.â This humility is paired with a newfound appreciation for her legacy, which she gained while working on the documentary Invisible Beauty. âWhen I decided to make the film about me and let the story be told, I finally realised the significance of what Iâve done.â Hardisonâs vision of diversity extends beyond racial representation. She tells BoF she advocates for a truly inclusive world and challenges the concept of homogeneity in all forms to ensure that diversity remains expansive and reflective of the worldâs richness. âThe most important thing to me is to make sure our world remains completely integrated,â she says. âI donât want an all-Black anything; I want to see redheads, I want to see diversity everywhere.âAdditional Resources:
BoF VOICES 2024: The Power of PurposeOp-Ed | Agencies Are Holding Back Models of Colour | BoFThe BoF Podcast: Bethann Hardison, Kerby Jean-Raymond, LaQuan Smith and Patrick Robinson: âWeâve Had Diversity, but Then It DisappearedâHosted on Acast. See acast.com/privacy for more information.
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Over the past year, the pristine image luxury brands have built on their links to artisanal craft, ethical manufacturing and quality has begun to crumble, buffeted by a scandal that has linked labels including Dior and Armani to sweatshops in Italy.
According to investigators in Milan, factories producing for the brands were operating illegally and exploiting workers. Dior and Armani have said the allegations donât reflect their commitment to ethical practices, but prosecutors say the issues uncovered by the probe are systemic and entrenched. Around a dozen more brands could still be implicated, with further cases expected in the coming months.
This week, BoF senior correspondent Sheena Butler-Young and chief sustainability correspondent Sarah Kent discuss the findings of BoFâs own investigation into how exploitative practices persist in luxuryâs supply chains and what the scandal means for the industry.
Key Insights:
Luxury brands use their high prices and Italian manufacturing to sidestep concerns over labour practices frequently levelled against lower-priced labels. But the problems pervade even Italyâs most exclusive supply chains. âThis may seem shocking and surprising to those outside this part of the industry, but in Italian manufacturing, everyone knows,â said Kent. âIt's an open secret.âBoFâs investigation found brands routinely turn a blind eye to labour exploitation, ignoring red flags raised by audits and sustainability teams in the interest of convenience and cost. New regulations mean the risks associated with such scandals will soon be much more severe. Under incoming European due-diligence rules, brands could be subject to penalties of up to five percent of global revenue if they fail to adequately monitor and prevent labour abuses in their supply chains. âThere are still a lot of questions around how that's going to be enforced and what that might actually mean,â said Kent. âBut that is a chunky piece of change for any big company.âAdditional Resources:
Inside Luxuryâs Italian Sweatshops ProblemIs Luxury Finally Set for a Sustainability Reckoning?Are Luxury Brands Still Worth It?Hosted on Acast. See acast.com/privacy for more information.
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In recent years, extreme weather events have become commonplace catastrophes. And in an increasingly globalised fashion system, developing nations often bear the brunt of climate crises. For fashion and its complex global supply chains â which disproportionately depend on resources and labour from these countries near the equator â one of the most urgent issues is extreme heat.
In April, the Philippines, Thailand, Bangladesh and India all experienced merciless and sometimes deadly temperatures, which shuttered workplaces and schools. According to the US National Centers for Environmental Information, Africa, Asia, and Europe all logged their warmest Julys since global records began in 1850.
To discuss what this means for fashion, BoFâs chief sustainability correspondent Sarah Kent convened a panel of global experts:
Laurie Parsons of Royal Holloway at the University of London, who focuses on the garment industry and climate vulnerability, explains: âWhat's at stake is the productivity of the industry, the health of the workers and as more and more of these stories come out, the reputation of an industry.â
From Brazil, Beto Bina, the founder and CEO of supply chain consultancy FarFarm says: âThinking as an ecosystem, you can be philanthropic, you can bring in public policies. Itâs a job for innovation, for marketing, for sustainability. If you bring these teams together and develop an innovative project to start this new supply chain that could be amazing for everyone.â
From Sri Lanka, Abiramy Sivalogananthan, country coordinator at Asia Floor Wage Alliance, who adds: âThe freedom of association should be ensured. Workers should be able to talk to be part of the union, to fight for their rights with the factoryâs management.â
Key Insights:
Workers in garment factories face a range of challenges that often go unaddressed, particularly in the Global South. Sivalogananthan highlights the critical need for collective bargaining to give workers a voice in addressing these issues. âThey should be able to talk to whom they need to talk. They need to talk with the unions who should be part of it. And then as a collective, they should be able to talk to the supplier and of course able to talk to the fashion brands.â While many fashion brands are proud of their sustainability initiatives, these efforts overwhelmingly focus on reducing emissions, neglecting the immediate impacts of climate change on workers. Parsons points out this glaring gap, stating, âalmost every brand focuses on decarbonisation, but there is an infinitesimally small amount of sustainability policies that actually focus on the populations affected by climate change.âBina further emphasises the interconnectedness of fashion brands and the broader environmental and social systems they rely on. âIf you buy cotton, you are part of the agriculture industry,â she says. âWe need to start to recognise this is part of the business and the brand.â Instead of viewing climate impacts as externalities, brands must integrate systemic accountability into their operations to ensure long-term viability and ethical production, she added.Additional Resources:
Why Hotter Weather Matters for Fashion What Happens When Itâs Too Hot to Make Fashion? | BoFHosted on Acast. See acast.com/privacy for more information.
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Over the summer, BoF editor-in-chief Imran Amed and editor-at-large Tim Blanks both spent time with Valentinoâs new creative director Alessandro Michele to learn about his vision for the fabled Roman couture house.
One thing became clear in those conversations. Alessandro was drawn to Valentino in part because it would reunite him with Valentinoâs CEO, Jacopo Venturini.
Alessandro and Jacopo first made magic at Gucci, alongside CEO Marco Bizzari, when the luxury megabrand quadrupled its profits after a period of slow growth in the post-Tom Ford era. There is a special symbiosis in their pursuit of creativity and business, based on a strong emotional connection and a shared passion for creating beautiful things together.
In their first-ever joint talk, Alessandro and Jacopo joined Tim Blanks at BoF VOICES 2024 to share their plans for Valentino and go inside their unique creative process.
Key Insights:
Michele describes his approach to Valentino as a blend of honouring its heritage while infusing it with his own perspective. "I try to be gentle ⊠Itâs not my place, itâs me working in that place,â he explains. âThere is always a conversation [with Valentino].â Michele acknowledges that his work divides opinions, especially online. âSome people feel aggressive in front of the freedom of someone else ⊠Iâm happy with myself because I am free.â Finishing the thought, Venturini says Micheleâs work embodies âgenius creativity that starts with real freedom ⊠He has eyes that open the eyes of someone else.â Venturini further highlights how creativity fuels not just design but the entire business ecosystem. âOur company is really human-centric and creativity-centric,â he says. âThe goal is to translate this energy into the real world without losing any of it."Michele embraces the inherent unpredictability of the fashion industry, stating, "Iâm understanding that you cannot really plan in fashion." He likens his role at Valentino to cultivating a "beautiful garden" where experimentation and creative freedom allow for growth and innovation.Additional Resources:
Alessandro Micheleâs Valentino Vision | BoF The BoF Podcast | Alessandro Michele: âThere Is Always Mr. Valentino Somewhere With Me.âAlessandro Micheleâs Valentino Debut: Lightness, Luxury and âFireflies Seeking Loveâ | BoFHosted on Acast. See acast.com/privacy for more information.
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As the year comes to a close, BoFâs executive editor Brian Baskin and senior correspondent Sheena Butler-Young look back on some of their favourite articles from 2024. The stories include topics that dominated industry conversations throughout the year, as well as some that have had key updates since publication.
The four articles they discuss are âHow Nike Ran Off Courseâ by sports correspondent Daniel-Yaw Miller, Butler-Youngâs three-part Black beauty series, âThe Fight for Influencer Marketing Dollars Heats Upâ by senior news and features editor Diana Pearl and âInside Luxuryâs Italian Sweatshops Problemâ by sustainability correspondent Sarah Kent. The conversation wraps up with a set of predictions for whatâs to come in 2025.
Key Insights:Millerâs âHow Nike Ran Off Courseâ topped the list of key stories from 2024. It was a trying year for the brand, marred by declining sales quarter after quarter. Many pointed to former CEO John Donahoe as the source, with marketing and product feeling stale since he joined in 2020. âThis was the year where it really crystallized that there were viable alternatives to Nike in the market,â said Baskin, with competitors encroaching from all sides. Looking ahead, Butler-Young said âNike is not resting on its laurelsâ and is doing a lot to try to âturn around a very large ship,â starting with selecting a new CEO, longtime Nike executive Elliott Hill.Sarah Kentâs story, âInside Luxuryâs Italian Sweatshops Problem,â digs into this yearâs viral scandal surrounding luxury brandsâ labour practices. âIt found that luxury brands that manufacture in ItalyâŠroutinely turn a blind eye to labour exploitation in their supply chain,â said Butler-Young. âThey ignore red flags raised by audits and sustainability teams for the sake of convenience and cost.â Dior in particular faced social media backlash for âthe disparity between what people pay for products and then some of the things that happen in the supply chain,â said Butler-Young. Next year, brands will face penalties for failing to comply with new European due diligence regulations.Baskin and Butler-Young shared predictions for the industry in 2025. For Butler-Young, ESG and DEI will be key to watch as they âattempt to continue to take shape in a very hostile political environment,â said Butler-Young. Early adopters of DEI who stick with it despite ebbs and flows might benefit by being the most innovative in the space down the line. For Baskin, âMy prediction is one of these big struggling brands ⊠is going to successfully pull out of its slump,â he said, pointing to Nike as a potential winner.Hosted on Acast. See acast.com/privacy for more information.
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Background:
In a slowing luxury and fashion market, itâs not just the big brands and e-commerce companies that are being impacted. Independent fashion designers around the world â from China to the US to Europe â are facing a barrage of challenges too. As more multi-brand retailers shut down, this not only puts tremendous cash flow pressure on small fashion businesses, but they are also losing their main channels to reach customers. Alongside other factors like inflation, Brexit and growing geo-political turmoil, it becomes almost impossible to build a sustainable, independent fashion business.
But there is hope. According to London-based designer Roksanda Ilincic, âthe beauty of an independent brand is that you can quickly adapt, quickly change. You can try to find a solution, maybe even quicker than a big giant.â
To examine this topic at BoF VOICES 2024, 1 Granary founder Olya Kuryshchuk hosted a panel on independent fashion, with Ilincic, publicist and consultant Bohan Qiu, and the designer and Antwerp Royal Academy director Brandon Wen.
Key Insights:The traditional reliance on multi-brand stores and fashion shows is shifting, with young designers exploring direct-to-consumer models and leveraging emerging technologies. Qui notes that new opportunities are coming from grassroots movements and emerging markets. âI feel like there is going to be this next movement where itâs coming from the streets, itâs coming from the underground, itâs coming from the youth culture that are so sick and tired of the current system. They want to overthrow and build something so strong that our current system can no longer neglect it.âFor Wen, fashion education must evolve to prepare students for the realities of a saturated market. While fostering creativity, institutions should also teach practical skills like budgeting and business management to ensure graduates can navigate the industry successfully. âThey need a lot more business advice and opportunities ⊠they also should know how to use Excel, make a budget sheet, and ⊠learn how the big machines work so that theyâre not struggling with their own machine.âIndependent brands must focus on the unique value they bring to the industry, such as craftsmanship, small-scale production, and authentic creativity. Ilincic highlights the importance of educating consumers about these distinctions, explaining, âthe quantities that we produce are much smaller than the quantities of the big brands. So just understanding that youâre buying a very unique and specific product. That should be championed.âHosted on Acast. See acast.com/privacy for more information.
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In the late 2010s, and particularly after George Floydâs murder in 2020, the fashion industry appeared to embrace a progressive awakening on issues like racial justice and climate change. Diversity, equity, and inclusion (DEI) departments were established, and companies announced ambitious sustainability targets. Yet, from the outset, critics - often from the same communities these initiatives aimed to support - questioned the authenticity of this activism, suggesting it was more about marketing than meaningful change.
Now, those sceptics may have been proven right. Following the 2023 Supreme Court ruling against affirmative action, companies have begun scaling back hiring initiatives, grants for Black founders, and other DEI efforts. Sustainability commitments are also under scrutiny, with the industry far behind its climate goals and facing a hostile political environment in the US.
Executive editor Brian Baskin is joined by sustainability correspondent Sarah Kent and senior correspondent Sheena Butler-Young to untangle the future of DEI and ESG (environmental, social, and governance).
Key Insights:
Diversity and inclusion in fashion was built on already fragile foundations. âMost companies didnât have a DEI department before George Floyd,â Butler-Young points out. She explains that these departments were often created hastily and emotionally, which left them vulnerable to becoming performative. âWe never moved beyond that conversation into âhow is this good for business? Why does this matter for a company beyond social good?ââ"The acronym DEI has become so politicised,ââ continues Butler-Young. "Something that started off as having some good intentions and some really value-driven tenets, and suddenly it's co-opted and becomes something almost derogatory." Companies are now moving away from the language, but that often means moving away from the work as well. The story in the world of sustainability contains some parallels. âWhat weâve begun to see in a handful of cases is a quiet reframing of sustainability commitments, making them less ambitious and, in some ways, more realistic,â says Kent. This includes âthe restructuring of sustainability teams, significant layoffs, and a shifting focus.â Although sustainability efforts are losing traction in the US, Kent points out that European regulations will keep the pressure on global brands. âFrom an investor standpoint, this is a compliance issue - companies need to meet laws or face significant penalties, which is obviously not good for business.âAdditional Resources:
What Fashionâs Advocacy Will Look Like in the Trump EraTrumpâs Impact on Fashion Takes Shape | BoFHosted on Acast. See acast.com/privacy for more information.
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Many fashion brands are realising that operating across multiple cultural sectors is a business necessity. In our social feeds, fashion competes with music, film, and sports for our attention.
Learning how to tap into other cultural sectors is something that many fashion brands are trying to do, but few have done it better than this weekâs guests.
At BoF VOICES 2024, BoF founder and CEO Imran AmedI spoke with Jens Grede, co-founder and CEO of Kim Kardashianâs Skims, the shapewear brand and David Allemann, co-founder and executive co-chairman of the Swiss sportswear company On, to learn how theyâve tapped into the cultural zeitgeist, especially at the growing intersection of sports and fashion.
Key Insights:
For both Grede and Allemann, the foundation of a successful brand lies in creating exceptional products. Grede emphasises the critical importance of innovation, crediting Skimsâ success to years of fabric development before launching the brand. âBefore a brand, there are products, and you canât build a great brand without a great product,â he explains. Similarly, Allemann shared Onâs origins, which began with a makeshift prototype crafted from a garden hose to test their signature âcloud techâ soles. Sports and fashion have become deeply interconnected, reflecting how cultural and personal identity have evolved. Allemann notes that, over the past 15 years, sportswear has transitioned from functional equipment to an extension of oneâs personality, becoming a new uniform. âBecause it becomes part of our personality, itâs elevated to a whole different level, and so in a sense, [sport] becomes fashion.â Athletes now use fashion as a platform to build their personal brands, with Grede describing it as âa superpowerâ that amplifies their influence beyond their sport. Tapping into culture is essential for brands looking to stay relevant and expand their influence. Grede describes building a brand as finding âa little part in this moment in popular culture,â which requires an understanding of the zeitgeist. For Skims, partnerships like their recent collaboration with Dolce & Gabbana push the brand into uncharted aesthetic territory while providing customers with something entirely new. On takes a similarly thoughtful approach, having turned Roger Federer from an ambassador into an investor. As brands grow, the decision to go public can be a significant milestone, but timing is critical. Grede acknowledges that Skims will eventually become a public company but stressed the importance of focusing on expansion and building away from the scrutiny of the public eye. Allemann shared advice from Onâs IPO journey, describing the need to stay close to the customer: âOn really tries to be very close to the consumer and be the brand that helps the explorers and the dreamers and probably even the rebels to ignite their spirit. I think that's what's really important right now.âAdditional Resources:
BoF VOICES 2024: Global Culture and Creativity The BoF Podcast | Jens Grede on Building Skims, Frame and the Future of FashionWhy On Running Could Be Worth $6 Billion | BoFHosted on Acast. See acast.com/privacy for more information.
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Resale is no longer confined to thrift stores or niche platforms; it has grown into a roughly $50 billion industry in the U.S. alone, by some measures. Platforms like Poshmark, The RealReal and Vestiaire Collective have transformed the experience, making it more accessible and attractive to consumers at every price point. At the same time, brands are increasingly stepping into the space, with some launching their own programs to resell returned or used merchandise, transforming what was once a reactive practice into a strategic business opportunity. And new start-ups hope to create a new secondhand market out of brandsâ returned merchandise.
Retail editor Cat Chen and e-commerce correspondent Malique Morris join senior correspondent Sheena Butler-Young and executive editor Brian Baskin to unpack the evolving resale landscape.
Key Insights:
The destigmatization of secondhand fashion is closely tied to convenience. âA large part of the equation is how easy it is to shop and sell secondhand,â explains Chen. âThere are dozens of platforms that do peer-to-peer shopping options where you can buy something secondhand for, you know, at a fraction of the cost of retail where you can sell something that you've had for a while.⊠When resale is top of mind like that, I think the market adapts to that acceptance mentality.âBut establishing a leading position in the market has proven difficult, despite rapid adoption. âThe learning for operators of these platforms is that thereâs very little consumer loyalty in this space,â says Chen. âWhen I consider selling something, Iâm going to look at every single platform - whichever one gives me the quickest sale, the easiest sale, and the most money.â This dynamic has created a fiercely competitive landscape, with platforms racing to attract sellers by offering the best incentives. Bazar is taking a different approach to resale, stocking its marketplace with returned, goods brands would struggle to restock without refurbishment, including some fast fashion. âBazar doesnât go through the trouble of necessarily fixing items. Itâs kind of listed as is, and customers get a âwhat you see is what you getâ experience,â says Morris. Additionally, Bazar allows fast fashion brands like Cider to offload inventory, which many traditional resale platforms avoid. âThere is a level of transparency there which is supposed to be a part of the proposition of sustainability and a part of the proposition of resale as well.âAs the industry develops, Morris envisions brands taking more ownership of resale, as platforms like Revive are already helping brands create their own resale programs to handle returned merchandise. Such efforts could turn resale into a sustainable, profitable venture, making it a key part of brand operations. âIf resale can prove that it is an avenue for [brands] to achieve profitability ⊠I can see it becoming a bigger priority brands which will make the shopping experience all the better for consumers."Additional Resources:
Fashionâs Big Opportunity in Reselling the Unsellable | BoFShould Brands Stop Offering Free Returns? | BoFHosted on Acast. See acast.com/privacy for more information.
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In 2024, luxury e-commerce faced a harsh reckoning. A pandemic-era boom gave way to a bruising downturn that exposed deep-seated weaknesses, as rising marketing costs, excessive discounting, outdated technology management and intensifying competition hit profitability.
MatchesFashion went into administration at the start of the year, shortly after it was sold off in a fire sale to Frasers Group. Farfetchâs share price plummeted by 98 percent, bringing the company to the brink of bankruptcy, only for it to be rescued by South Koreaâs Coupang. Richemont sold off Yoox Net-a-Porter to rival luxury e-tailer Mytheresa in October, ending a years-long effort to offload the struggling business.
This week on the podcast, Mytheresa CEO Michael Kliger and Lauren Santo Domingo, co-founder and chief brand officer of Moda Operandi, join BoF Founder and CEO Imran Amed on stage at BoF VOICES 2024. Together, they explore what went wrong in the luxury e-commerce sector, how they are navigating the ongoing luxury slowdown, and what comes next for the industry.
âWe didnât know that this big slowdown in aspirational demand would happen, but we were well prepared,â Kliger said.
Key Insights:
What separates the winners and the losers in the luxury e-commerce reckoning comes down to preparedness, said Kliger. Mytheresa also âfelt the pressures,â but the business was better suited to handle an environment laden with high inflation, high interest rates and middle-income shoppers retreating. Kliger added that he still believes in the viability of the luxury e-commerce model because âthere is a consumer that wants to shop like that.â âRumours of our demise have been greatly exaggerated,â added Santo Domingo. Despite the challenging market environment, some customers are still spending. E-tailers need to create desirability and find ways to attract shoppers to their platforms through curation, storytelling and other forms of differentiation. âThey want from us more experience than just access to product,â said Kliger. âThatâs why the brands want to be with us. We are brand enhancing,â echoed Santo Domingo. Mytheresa has also invested in optimising its marketing funnel to identify customers who are more likely to remain loyal over the long-term. âWeâre not bidding for traffic. Weâre not bidding for revenue. Weâre bidding for customers,â said Kliger. The business built an algorithm to predict based on past purchases, addresses, types of payment, and time of purchase, whether a customer is likely to return, and they focus their marketing efforts accordingly.Additional Resources:
BoF VOICES 2024: Fashion's Next Moves: Industry insiders including designers Simon Porte Jacquemus and Glenn Martens, H&M CEO Daniel Ervér, e-commerce executives Lauren Santo Domingo and Michael Kliger and more spoke about key challenges and opportunities for their businesses and fashion at large. Meanwhile, McKinsey provided an outlook for 2025.
Hosted on Acast. See acast.com/privacy for more information.
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When Simon Porte Jacquemus came on to the scene in 2009, he did so with a bang. The French designerâs playful take on Parisian fashion draws inspiration from 20th century sculpture, the French New Wave, and sunny afternoons in Marseille. His creations have catapulted him and his label into stardom, with the brandâs campaigns often going viral on social media.
âItâs [all about] having fun,â said Jacquemus. âHaving fun is being creative, it's going one step aside and it's playing with the system.â
Jacquemus has been able to build on the social media buzz and create an independent label garnering more than 200 million euros ($210 million) in annual turnover. His fashion shows have been staged in picturesque locations across France, including the Chateau Versailles. In October, he opened his first store in New York City, drawing crowds akin to those mostly reserved for movie stars. This month, he opened another location in London, part of the designerâs plans for a global retail expansion.
At VOICES 2024, BoF founder and CEO Imran Amed sits down with Jacquemus to discuss how the designer has been able to build a successful independent business in the competitive luxury sector and amidst a consumer downturn.
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Jacquemus credited creating attention and buzz in unconventional ways for the success of his brand and his ability to remain independent for 15 years. The designer recalled staging his debut runway show disguised as a fake protest outside of a Dior boutique on Avenue Montaigne as a media stunt that gained him notoriety early in his career. âI only had one rule when I [started]. I need to be visible,â he said. Jacquemus said his love for imagery and the hit TV show âSex and the Cityâ inspired to go into fashion. âI wanted to build images and create the sensation of a young boy looking at magazines,â the designer said. This fascination with imagery has translated to the brandâs social campaigns, namely the CGI versions of the labelâs signature purse Le Bambino roaming through the streets of Paris. The brandâs design codes deviate from traditional luxury fashion, in that Jacquemus wanted his designs to appeal to ultra-luxury shoppers as well as mass consumers. âI [wanted] to do something everyone can understand â the post guy, my grandmother. And references to niche things.âNow, the designer wants to transport his feelings of familial bliss and his childhood in the south of France to his retail locations around the world. âI want them to feel like home,â he said. The design elements of the brick-and-mortar stores call back to Provence with soft linens, high windows and traditional furniture. As the CEO of the brand, Jacquemus said he finds he may often lean more toward the business side than the creative side. This is something he wants to balance in the near future. âIâm interested in everything,â he said. âI wake up every morning looking at the sales, not because I love money but because I want my work [to become] something real.âAdditional Resources:
Jacquemus: A Fashion Star's Business VisionJacquemus Is Seeking a Minority InvestorThe Debrief | What Makes Jacquemus So Successful?Hosted on Acast. See acast.com/privacy for more information.
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The beauty industry has witnessed a wave of disruptors rise and fall. Brands like Anastasia Beverly Hills, Glossier and Morphe leveraged social media and influencer marketing to achieve rapid success and unicorn valuations. But maintaining momentum has proven challenging, and some of these disruptor brands have seen sales fall and financial hurdles mount.
As Glossier proves, there is the possibility of a second chance, but it requires radical changes to the business to pull off. As beauty correspondent Daniela Morosini points out, âThe barriers to entry have been removed. You can get a critical mass of fans and build an aesthetic for your brand quite quickly. Making it stick is more difficult.â In todayâs crowded market, sustainable growth and a deliberate strategy are essential for standing out.
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Slower growth in a crowded market can ensure longevity. âItâs the ones that are maybe growing a little bit slower, not having this initial huge rush and then a massive drop-off,â says Morosini. While brands can gain a critical mass of fans and build an aesthetic quickly, sustaining that momentum is much harder in todayâs saturated market. âYou go on TikTok, and there are 50 brands fighting for your attention. You go to Sephora, there's another 50,â Morosini adds. By focusing on steady, intentional growth, brands are better equipped to stand out and thrive in an environment where consumer choices are overwhelmingly abundant.In a saturated market, having a knowledgeable and authentic founder can differentiate a brand and build trust with consumers. âBrands that had a founder with expertise as a makeup artist or some other kind of professional qualifications helped bear out the brand and add a little bit more credence to it,â says Morosini. These founders often bring a personal approach to their brand, which resonates with consumers.Glossierâs success shows the value of balancing adaptation with staying true to a brandâs core mission. Despite being digital-first, the brand quickly established a physical presence, which âhelped enmesh them and establish themselves with more the kind of quote unquote, middle-American consumer, just like a general shopper versus someone who is like a die-hard beauty fan,â explains Morosini. By moving away from an exclusively direct-to-consumer model, Glossier also refocused on its product assortment and customer needs. âGiving up on the DTC-only thing probably allowed them to take a hard look at their product assortment and build out more products that people were really interested in,â Morosini adds.A key lesson for emerging beauty brands is to prepare for both boom and bust cycles. As Morosini explains, âYouâre probably going to be getting your most attention both from consumers and investors or acquirers during your fat years. And you need to be ready for the lean years because they're going to come.â She emphasises the importance of hedging strategies, noting, âNo matter how well things are going, there will be a competitor snapping at your heels around the corner. Making sure that youâre keeping your strategy and product assortment broad enough to weather that.â Flexibility and foresight are essential to navigating inevitable market shifts.Additional Resources:
How Anastasia Beverly Hills Lost Its Footing | BoFUrban Decayâs âNakedâ Relaunch Is a Hit. Now Comes the Hard Part. | BoFHosted on Acast. See acast.com/privacy for more information.
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Tina Brown is a force of nature in the world of journalism, offering unflinching and sometimes provocative glimpses into the lives of the world's most famous figures.
Born in England and educated at Oxford, she stormed the traditionally male bastions of print media, becoming editor-in-chief of Tatler at just 25. A few years later, she ushered in a new era as editor-in-chief of Vanity Fair, which was tens of millions of dollars in debt when she took over. Her unique formula of seductive storytelling, combined with hard-hitting journalism, increased the magazineâs monthly circulation from 200,000 to 1.2 million.
As an editor, Tina has never been afraid to push boundaries or challenge the orthodoxy, and she has not lost her magic touch. Last month she launched a weekly Substack newsletter, âFresh Hell: Tina Brownâs Diary.â where she has already opined on trending topics from the Menendez Brothers to the re-election of Donald Trump. Right now, one of her main pre-occupations is around the future of journalism.
âMore serious than anything is the death of truth and what that can do to a society,â she warns. âThe resistance is going to have to come from the media.â
At VOICES 2024, Brown reflects on the seismic shifts in media, what this means for truth and democracy, and the role of journalism in the age of Donald Trump.
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âI love the art of magazines ⊠but I donât read them anymore,â Brown admitted, echoing the sentiments of a changing audience. She argues that while print media might be fading, the real battle is to sustain investigative journalism, which remains critical to democracy. âWhat matters is that we have thoughtful, curious, truth-telling journalists in the roles that matter.âBrown criticises tech companies for profiting from journalismâs decline. âTwenty years ago, traditional media was too passive in the face of digital disruption,â she explains. âContent was taken for free and monetised by tech platforms, and weâre seeing it happen again with AI.â Highlighting the existential threat posed by the erosion of public trust in journalism, Brown calls for tech companies to take responsibility and invest meaningfully in journalism. On the battle between creativity and technology, Brown lamented the undervaluation of human creativity in an increasingly algorithm-driven world. âI do not know why writing sentences is not valued more than writing code, because they last longer, that's for sure. One Shakespeare sonnet - beat that algorithm.â
Reflecting on Trumpâs influence on both media and politics, Brown describes him as âthe worldâs great showmanâ. âHe ran a campaign that was just endlessly watchable and was so extraordinarily sort of resourceful on improvising all the time,â she notes. However, Brown questions this approach to politics as entertainment. âWe've become so debased by entertainment values that we now require our politicians to be entertainment,â she argued. âI actually question whether the old style politician will ever be in favour again.âAdditional Resources:
BoF VOICES 2024: Confronting an Age of UncertaintyHosted on Acast. See acast.com/privacy for more information.
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For nearly a decade, the luxury sector has experienced what seemed like limitless growth, with brands like Louis Vuitton, Gucci, and Chanel pushing product prices higher â and seeing consumers pay up. However, recent quarterly reports have marked a sudden shift, with even industry giants reporting disappointing revenue. As luxury editor Robert Willliams explains, âThese brands are omnipresent and people are seeing them everywhere. Whether consumers finally pull the trigger is so much about their economic confidence, this feel-good factor. Are things going to be better for me next month than they are today?â
This week, BoF executive editor Brian Baskin and luxury editor Robert Williams discuss the forces contributing to this downturn, the implications for top brands and potential strategies luxury players are exploring to reignite growth.
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Global economic uncertainty has hit U.S. and European luxury spending hard. âWhether they finally pull the trigger [on a big purchase] is about economic confidence,â explains Williams, noting that factors like inflation, wage stagnation, and election cycles have consumers second-guessing expensive purchases. There are similar issues in Europe, with proximity to conflicts in the Middle East, Ukraine and Russia additionally impacting consumer sentiment and spending power.However, according to Williams, the biggest issue is China pulling back on this type of spending. Chinaâs luxury market has always been a growth engine, but changing economic sentiments and less travel due to COVID are affecting luxury sales. â[Chinese consumers] are really holding out for when they feel better about the economy. ⊠Theyâre holding out for when they can feel like they can get a deal because prices are higher in China than most of the world for luxury brands,â says Williams. Many consumers are frustrated with steep price increases, as seen with Diorâs Lady Dior bag, which has jumped 76% in price since 2019. âCustomers are quite fed up with how dramatic the price increases have been often for like for like products,â Williams states, adding that consumers often feel theyâre âspending a lot more for something thatâs not necessarily as good.â Even if quality hasnât declined, the perception has, especially with social media spotlighting any issues. âWith the way our Internet culture works, if someone has an issue with the product, they can make that so public in a way and really disenchant a lot of people and their audience and make them question, is this high price worth it?âFacing a saturated market after years of rapid growth and price hikes, many forecast that 2025 and 2026 are to be similarly stagnant or negative periods for sales.â Even if it wasn't just a question of the prices or if there weren't these other macroeconomic factors, there could be a sense of having saturated the market, of people needing to be bored with fashion a bit so that then they can rediscover it. I'm not sure that it's the right time to introduce the next big idea if you were the one who had it,â says Williams. âBecause if you're among the brands whose sales are quite negative ⊠then how much can you really invest in telling the world that you're the one who has the next big idea?â.Additional Resources:
Inside Luxuryâs Slowdown | BoFWhy Some Luxury Groups Are Doing Better Than Others | BoFHosted on Acast. See acast.com/privacy for more information.
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Sammy Basso left an indelible mark on our community last year at BoF VOICES 2023. Sammy had a rare genetic condition called Progeria that accelerates ageing, affecting only one in 20 million people, with an average life expectancy of 13-and-a-half years. Last year at VOICES, Sammy celebrated his 28th birthday with us, and shared his extraordinary resilience and passion, for life and for research.
âTo be a patient and scientist is beautiful for me because it is a great antidote against fear,â he reflected. âNever think you are not enough to make a difference ... So many people said itâs impossible to do research into such a rare disease. But now thanks to that, we are opening ways to treat so many others. We are making a difference.â
This week on The BoF Podcast, Basso in conversation with friend Annastasia Seebohm Giacomini about the importance of his research and his philosophy of how to live a full life.
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When asked how he maintains such a positive outlook despite the daily challenges of his condition, Basso explains, âI must be positive, because if I wonât be, I would limit my life more than progeria itself. My life is worth living, progeria or not. I love my life âŠThis is the only possibility for the universe to be myself. And you are the only possibility for the universe to be in the stars. So we canât waste this great opportunity. We need to be the best copy of ourselves.âReflecting on his outlook toward life, Basso shares the importance of gratitude in his daily routine: âProgeria taught me not to believe anything to be granted. Iâve risked my life so many times, Iâve wished to die several times, so now every day for me is a gift. When I wake up in the morning, I have to be grateful for that day. I must be grateful for that day.â Basso finds strength in community and expresses his deep gratitude for the role of his family and friends in his life. âThey are the reason why I wake up every morning. Sometimes when Iâm too tired, I remember that my life is not only mine. So if I canât do it for myself, I must wake up for them and do it.âAdditional Resources:
BoF VOICES 2023: Finding Hope in the DarkRegister now to join us at BoF Voices 2024, our annual gathering for big thinkers, streaming live from November 12 to 14
Hosted on Acast. See acast.com/privacy for more information.
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In recent years, sports has provided a rich ground for fashion partnerships. Where even three years ago Diorâs tie-up with Paris Saint-Germain was relatively novel, today itâs harder to find luxury brands that arenât at least dabbling in football, Formula 1 or other sports. These deals are also getting increasingly elaborate, with brands outfitting athletes, teams and even entire leagues on and off the field.
This new wave of partnerships is about more than just looks or finding new audiences â itâs about cultural relevance.
âFashion brands have looked to [sports] to market their products to groups of consumers who maybe werenât targeted by these brands previously, and athletes themselves have become major brands and media businesses in their own right,â says BoF sports correspondent Daniel-Yaw Miller.
This week on The Debrief, Executive Editor Brian Baskin and Senior Correspondent Sheena Butler-Young sit down with Daniel-Yaw Miller to explore how the worlds of fashion and sports are colliding like never before.
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For a partnership to be successful, it must feel authentic. Arsenal's collaboration with London-based brand Labrum, which presented a runway show at Arsenal's stadium is a prime example. The jersey colours draw influence from the Pan-African flag and hint to the histories of the players and the club. "That partnership makes sense on a cultural level and fans can buy into that authentic messaging rather than just a logo swap,â he says.As individual athletes gain larger followings, brands see more appeal in creating tailored partnerships with rising stars like Coco Gauff and Angel Reese. âAthletes now have a direct bond with fans that the previous generation of stars never had,â Miller notes. âSports fans have had insights into Coco Gauff and Naomi Osakaâs lives since they were teenagers. Theyâve grown with them, and thatâs at the very essence of their appeal to these brands.âThe rise of womenâs sports has opened doors for fashion brands that previously overlooked the sector. "And that's really opened up the sports industry, which has traditionally been extremely male dominated. So a whole range of luxury womenswear brands that previously never really had an entry point into the sports industry,â Miller explains. Some sports struggle to find traction in the fashion world. While Formula 1 has embraced luxury, baseball remains on the sidelines. âBaseball has never quite broken out to have true global appeal in a sense that fashion could leverage,â Miller says. âI think baseball is very similar to where Formula One was before the Liberty Media acquisition, where there was a strict atmosphere around showing an interest in things that are outside the direct line of business for a baseball organisation that's hampered how much the sport and the athletes have been able to be in fashion.âAdditional Resources:
Fashionâs Sports Obsession Is No Accident | BoF How Athletes Became Fashion Week Royalty | BoF.Inside the Big Business of Styling Athletes | BoFHosted on Acast. See acast.com/privacy for more information.
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Khalid Al Tayer, Managing Director of Al Tayer Insignia and CEO of the luxury e-commerce platform Ounass, leads one of the Middle Eastâs most powerful retail networks. In his first public interview at Oud Fashion Talks, Al Tayer shares insights into the rapid evolution of the Middle Eastern luxury market, the region's growing influence on global trends, and how his business approaches e-commerce with a customer-first mindset. He also discusses the strategic importance of respecting and investing in the Middle Eastern customer while creating opportunities for regional talent to flourish in the luxury landscape.
âThe brands that have taken [the Middle Eastern] customer as a very important customer and respect them are seeing benefit. The ones that approach this customer as, âTheyâre just going to buy what we make, and weâre going to do ⊠a good enough job because weâre busy somewhere else,â are not benefiting. Respect the Middle Eastern customer,â shares Al Tayer.
This week on The BoF Podcast, BoF founder and editor-in-chief Imran Amed sits down with Al Tayer to discuss the growing influence of the Middle Eastern luxury market and how businesses can succeed by prioritising the evolving needs of the regional customer.
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Despite challenges in global luxury, Al Tayer points to the Middle East as a resilient outlier in the industry, especially post-Covid. Brand investment in top-tier store experiences, thoughtful activations, and tailored assortments have fostered a deeper connection with the local customer. âThe Middle East ⊠has been a shining candle in the industry generally because of the resilience and the growing sophistication of the Middle Eastern customer,â Al Tayer notes, attributing this shift to brands recognising the importance of this loyal market.Al Tayer forecasts that e-commerce will soon make up half of all luxury retail in the region, with Ounass already pushing double-digit growth in this area. âIn the next few years ⊠50 percent of the sales of retail will be online,â he says, describing an evolving model he calls âluxury convenience.â While physical stores will still offer unparalleled experiences, online platforms like Ounass meet the growing demand for digital access and seamless customer journeys.Al Tayer attributes his companyâs success to âfanatical focusâ and the dedication of his team. âFirst and foremost, it's all about team and surrounding yourself with the right people,â he says. âI try to build trust by allowing them to have ownership. When they have ownership, they really drive the business like it's their own.â In an industry that requires high levels of execution, he recommends patience and focusing on the details that matter. âFocus on what youâre doing and get it right,â he advises, urging new entrepreneurs to remain committed and data-driven.Additional Resources:
BoF Insights | Fashion in the Middle East: Optimism and Transformation What Escalation in the Middle East War Means for the Industry | BoFHosted on Acast. See acast.com/privacy for more information.
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