Background: After years of build up, from its origins in cultural movements like New York’s hip-hop scene and LA’s skating community to early commercialisation in the early 2000s from brands like Fubu and Stussy and Japanese designers Nigo and Hiroshi Fujiwara, by the late 2010s, streetwear found itself at the centre of luxury fashion. The breaking point came in 2018, when, after success at his label Off-White, Virgil Abloh was named creative director of Louis Vuitton. But lately, streetwear institutions like Bape and Stussy have been losing heat — and luxury brands are pivoting away from streetwear staples like hoodies and sneakers. “Streetwear brands are more commercial and less connected to the actual street culture where they found their roots,” said BoF editorial associate Daniel-Yaw Miller. Key Insights: Streetwear brought items like puffer jackets and hoodies, graffiti details and logo-centric designs to high fashion runways. Lately, designers have been more focused on harder shoes, knitwear and tailoring. But, streetwear-centric items haven’t disappeared from brands’ assortments, they’re more absorbed into the core offerings — and in consumers' day-to-day wardrobe. A new crop of brands, including Daily Paper, Corteiz and Free The Youth, are making the case for streetwear’s enduring fashion relevance. Streetwear mainstay Supreme is still driving growth with its savvy marketing and collaborations. Owner VF Corp. said it expects the label to generate $600 million in revenue this year — up from $500 million when it was acquired in 2020. Additional Resources:Why Supreme Sold to VF Corporation: In a deal that values the New York streetwear brand at $2.1 billion, Supreme picks up a long-term partner with back-end prowess and ambitions to scale it past $1 billion in annual sales.Is Streetwear Still Cool? Luxury brands may have pivoted away from sneakers, puffer jackets and hoodies, but new labels like Corteiz and Free The Youth are making a case for street culture’s enduring relevance in fashion.Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout. Want more from The Business of Fashion? Subscribe to our daily newsletter here.Follow The Debrief wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

Robert Williams, Luxury Editor at The Business of Fashion, dives into the remarkable success of Simon Porte Jacquemus, one of fashion’s hottest independent designers. They discuss how Jacquemus strategically uses Instagram to amplify his brand narrative and foster a unique luxury identity. Williams reveals how the brand has thrived without major investors, relying on accessible yet playful products like the 'Chiquito' bag. They also explore upcoming expansions into footwear and menswear, showcasing Jacquemus's ambitious plans for growth.

BoF editor-at-large Tim Blanks describes the designer and businessman’s life, continuing impact on fashion, mysterious succession plans and newfound vulnerability.BackgroundOver his decades-long career, Giorgio Armani has built one of fashion’s most successful businesses. Known for his signature tailoring and functional glamour, at 88, he’s retained his dominance in an ever-changing, hyper-competitive industry. Amid speculation about what's to come for the Armani fashion empire, BoF editor-at-large Tim Blanks met the titan at his garden in Milan for an intimate conversation about his life, business and future — including succession plans. “He was a revolutionary in his own way. I can think of maybe five people in fashion who had the impact he had,” said Blanks. Key Insights: The Bloomberg Billionaires Index estimates Armani has a personal net worth of $9.5 billion. He still owns and runs his company and as Blanks says, may value his independence more than anything. Rumours about Giorgio Armani’s future after Armani include a potential takeover by Bernard Arnault’s LVMH, the Agnelli family’s Exor or Valentino parent Mayhoola.One thing people don’t fully realise about Armani is he is an eccentric, said Blanks. Armani told Blanks his eccentricity lies in his radical approach to design, which is both streamlined and nuanced. Armani’s close relationship with partner Sergio Galeotti, who passed away in 1985, has helped fuel his ascent to status as fashion’s most successful designer. Now, Armani, who has no children and doesn’t claim many friends outside his family and his company, is leaning into a new kind of love and vulnerability, thanks to the presence of his collaborator’s young daughter at the office.  Additional Resources: Giorgio Armani: Lion in WinterJoin BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.  Want more from The Business of Fashion? Subscribe to our daily newsletter here. Follow The Debrief wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

How the 75-year-old luxury house tripled its revenue in just four years, according to BoF luxury editor Robert Williams. Background: In 1947, months after being founded, Christian Dior Couture revolutionised dressing with its “New Look,” an exaggerated hourglass-shaped silhouette. In the ’80s, the then-withering brand was bought by entrepreneur Bernard Arnault, who would eventually transform it into one of the largest luxury labels in the world. In 2017, when LVMH — of which Arnault is CEO and chairman — took full control of the house, Dior transformed into one of fashion’s fastest-growing and most profitable labels — with estimated revenues of €6.6 billion.  “[LVMH] just said ‘We need to … do what it will take to get this business on the scale of these really big brands like Gucci, Louis Vuitton and Chanel,’” said BoF luxury editor Robert Williams.  Key Insights: More than a decade after buying Dior, Arnault hired designer John Galliano — who introduced the Lady Dior bag — and appointed executive Sidney Toleando (now chief executive of LVMH fashion group) to refashion Dior as a modern luxury brand. While Galliano and Toledano fully cemented Dior as a global fashion and leathergoods player with a robust beauty business over their 15-year partnership, the brand entered a new phase in 2017, when Arnault moved Dior from his personal holdings to LVMH.The brand’s beauty and fashion lines are segmented, which has led to a certain amount of success, particularly in the company’s perfume business. Now, the brand is slowly starting to connect the two to power the business. Dior’s total control over its brand — where it only sells through its channels, doesn’t discount and isn’t separated out on LVMH’s balance sheet — allows it to protect itself from investor demands and excess product risk.  Additional Resources: https://www.businessoffashion.com/case-studies/luxury/christian-dior-strategy-lvmh-pietro-beccari-maria-grazia-chiuri-kim-jones/  https://www.businessoffashion.com/articles/luxury/diors-maria-grazia-chiuri-a-fashion-hitmakers-method/ https://www.businessoffashion.com/podcasts/luxury/why-chanel-is-opening-private-boutiques/Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.  Want more from The Business of Fashion? Subscribe to our daily newsletter here. Follow The Debrief wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

Patagonia founder Yvon Chouinard’s is giving away his billion-dollar company. BoF chief sustainability correspondent Sarah Kent explains why — and what influence the change could have on the culture of business. Background: Patagonia has long been the standard bearer for responsible capitalism: the jackets and fleece maker has donated 1 percent of all sales — which top $1 billion a year according to The New York Times — to environmental groups since the ’80s, and was one of the first companies to qualify for B-Corp sustainability certification. In its latest bid to live out its mission statement, “founder Yvon Chouinard gave most of Patagonia’s shares over to a non-profit which will be tasked with reinvesting its profits (projected at some $100 million a year) in fighting the climate crisis. “Earth is our shareholder now,” Chouinard wrote in an open letter on the company’s site.  “This is pretty unprecedented. Individuals don’t do this, and it almost broke the bounds of what people had imagined business should look like, ” said BoF chief sustainability correspondent Sarah Kent.  Key Insights: Chouinard created a structure in which Patagonia’s profits cycled toward charitable endeavours focused on climate change in perpetuity. All shares priorly held by the Chouinard family will be given away to different entities, two percent of shares will be put into a trust which will govern the company and ensure it operates in line with responsible business practices and the other 98 percent will be held by a non-profit that will be responsible for distributing them.  Through the years, Patagonia has made it a goal to balance turning a profit with encouraging responsible spending. It's managed to go about communicating that in an authentic way because it's transparent about the tension between those two goals. While the move by Patagonia will be hard to replicate elsewhere (given shares were owned by the family), it has created a template that could be used on a smaller scale.  Additional Resources: Can Patagonia Make Capitalism Climate Friendly? Patagonia’s Radical New Ownership Structure, Explained Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.  Want more from The Business of Fashion? Subscribe to our daily newsletter here. Follow The Debrief wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

The podcast delves into the luxury e-commerce industry, discussing the consolidation of major players like Farfetch and YNAP. It highlights Farfetch's acquisition of YNAP with plans for a full acquisition, emphasizing the significance of back-end technology in e-commerce. The episode explores trends, challenges, and partnerships in the luxury e-commerce sector, shedding light on the evolving landscape of online luxury retail.

BoF’s retail correspondent Cathaleen Chen joins The Debrief to discuss how the mall brand plotted a turnaround that’s starting to pay off.Background:Gap Inc. has had a hard year, accented last week by a dramatic Ye break-up following an anticlimactic retail roll-out of Yeezy Gap, which it staked its comeback on a year ago. Old Navy sales sank, and its once fast-growing sportswear label Athleta has seen sales level. But there’s been one glimmer of hope in the midst of it all: Banana Republic. The long-struggling mall brand’s sales were up 9 percent in the quarter ended July 30, helping to send Gap Inc. shares up 6 percent after what was an otherwise grim report. It seems the company is finally starting to see the payoff of the brand and product re-fashioning it started a year ago under chief executive Sandra Stangl and then-chief brand officer Ana Andjelic.  “For the first time in a long time, it's exciting, it's different — and the fact that it’s not for everybody serves an advantage for Banana, because it finally has a point of view,” said retail correspondent Cathaleen Chen.  Key Insights: After getting lost in an amalgamation of indistinct mall brands, Banana Republic has started to redefine itself with a pointed aesthetic that doesn’t serve every consumer — reinventing its look and product offering. It launched a line “Imagined Worlds” IS THIS THE RIGHt NAME?” that nods to its heritage as a travel and safari line.Half of Banana Republic’s sales come from its off-price segment. Overall, the Banana Republic makeover could be a learning experience for Gap, which hasn’t yet mounted a brand turnaround as significant as this.  Additional Resources:  How Banana Republic Became a Bright Spot in Gap Inc.’s Portfolio: The mall retailer saw sales rise after swapping generic office clothes for a stronger point-of-view inspired by its safari-themed origins. The new look wasn’t for everyone — and that was the point. The Secret to Breathing New Life Into Old Brands: Banana Republic, J.Crew, Express and other mall brands are all promoting a new, more digital and fashion-forward identity in a bid to regain relevance.Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.  Want more from The Business of Fashion? Subscribe to our daily newsletter here. Follow The Debrief wherever you listen to podcasts.  Hosted on Acast. See acast.com/privacy for more information.

Louis Vuitton is expected to name its Virgil Abloh successor within weeks. BoF’s Imran Amed joins Lauren Sherman to discuss what luxury labels think about when recruiting top designers.Background:Louis Vuitton has spent almost a year searching for a Virgil Abloh successor after the designer died in November 2021. According to sources, Martine Rose, Grace Wales Bonner and Telfar Clemens are among the names that were considered by owner LVMH, and the decision is expected to be announced within weeks. But how do brands like Louis Vuitton even go about finding a designer?“Without the creative energy, without that kind of excitement, there’s nothing to sell,” said Imran Amed, BoF founder and editor-in-chief.Key Insights:While all brands have their own personality and the situations that necessitate finding a new creative director differ, the things most brands look for in a leader are similar.Executives have to consider whether they’re looking for revolution, like when Gucci tapped Alessandro Michele for creative energy and new ideas, or evolution, like when Saint Laurent tapped Anthony Vaccarello to keep its aesthetic formula after Hedi Slimane departed.A strong vision is the most important thing. But creative directors also need to have commercial sensibility and the ability to work in a corporate environment.One of Abloh’s achievements was that he managed to build a community at Louis Vuitton, and engage consumers who had been traditionally excluded by the luxury industry.Additional Resources:Virgil Abloh: Building on a Legacy: Like Yves Saint Laurent, Alexander McQueen and Gianni Versace before him, the late Virgil Abloh leaves a powerful legacy. What does this mean for Off-White and Louis Vuitton?Which Luxury Leadership Configuration Works Best? In luxury fashion, the right configuration of creative and commercial leadership is critical to success, writes Pierre Mallevays.Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.  Want more from The Business of Fashion? Subscribe to our daily newsletter here. Follow The Debrief wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

BoF’s workplace and talent correspondent Sheena Butler-Young unpacks how fashion’s labour market has evolved in the past year, and what positions brands are hiring for now.  Background:  As companies confront a potential recession, they’re making changes to the way they hire, and who they hire. During the pandemic, the number of fashion jobs requiring expertise in web3 or the metaverse rose exponentially. But now, brands are once again focused on hiring for jobs in traditional areas like human resources, supply chain and finance that can help meet new consumer demands.  “The pandemic has fundamentally changed the way people work,” said BoF workplace and talent correspondent Sheena Butler-Young.  Key Insights:Brands are having to scale up how they address environmental social and governance issues as regulations and laws emerge around climate impact and fair labour practices. That’s driven the need for lawyers and people attuned to environmental studies. Supply chain has gone from a back-office function to be more closely connected to consumer experiences. DEI departments are evolving: most human resources employees say diversity roles should not sit in HR, but rather, in the C-suite, next to chief executives. Added to that, chief diversity officers are starting to get better budgets and hire managers and directors. Additional Resources:   Fashion’s In-Demand Jobs: Recruiters say interest in the metaverse is cooling, while brands look for candidates with the real-world expertise to navigate uncertain times. How to Know When Layoffs Are Coming — And What to Do About It: Fashion workers worried about their jobs amid an economic downturn should watch for warning signs and look for ways to transition their role if the worst happens. What Makes a Great Fashion Office: More and more companies want to see their staff in person again. Creating a work environment that fosters collaboration, offers flexibility and thoughtful perks could convince employees to leave the home office behind. Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.  Want more from The Business of Fashion? Subscribe to our daily newsletter here. Follow The Debrief wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

BoF technology correspondent Marc Bain and contributor Chantal Fernandez join Lauren Sherman to discuss how TikTok took over fashion conversation — and what brands need to know to get the most out of the platform.     Background:      It seems Instagram’s autonomous rule over fashion is finished. While the Meta-owned app still has more users, a growing number of brands and creators are turning to TikTok as their go-to marketing platform. As TikTok ascended to Gen-Z-favourite status, fashion and beauty used the app as a space for experimentation, while doing most of their marketing on Instagram. That is starting to change — and it's shaking up the way brands approach their social media channels.     “The content demands on brands are just escalating and escalating,” says BoF contributor Chantal Fernandez.      Key Insights:     Just a year ago, TikTok wasn't taken seriously as a marketing platform by fashion brands, which struggled to adapt their polished content to its loosy-goosy approach. Now, it's seen as a place where all brands need to have a presence. However, returns on TikTok marketing investment aren't great yet. The app is still pretty new, where Facebook and Instagram have decades-old, more sophisticated advertising platforms.  For influencers, wannabe influencers and regular users, TikTok is appealing because it has created a relatively level playing field, where anyone could go viral at any moment. Casual, personality-forward content is preferred over high-production, over-the-top shoots and scenes.  Instagram still plays an important role for influencers and brands. It can serve as a channel for reaching older consumers, showcasing products and can act as almost a secondary website or blog that people refer back to.  Prompted by the rise of TikTok, social media is moving away from being social — and more toward acting as a sort of recommendation machine, where algorithms decide what’s shown to users.      Additional Resources:    How TikTok Won Over Fashion The Returns on TikTok Ads Don’t Match the Hype Just Yet Follow The Debrief wherever you listen to podcasts.  Hosted on Acast. See acast.com/privacy for more information.