Luxury editor Robert Williams from The Business of Fashion dives into Chanel's bold move to open exclusive boutiques for its top-spending clients. He discusses how this strategy aims to secure loyalty amidst economic uncertainties and rising store traffic. With Chanel's remarkable 50% sales growth in 2021 and a focus on personalized service, Williams highlights the brand's delicate balance: appealing to affluent customers while not alienating occasional shoppers. He also touches on the broader trend of private luxury boutiques across the industry.

BoF’s chief sustainability correspondent Sarah Kent discusses the rise of mycelium leather in fashion, with brands like Stella McCartney and Balenciaga leading the way. The potential $2.2 billion market for alternative materials hinges on scaling up production and reducing prices, as the industry strives for more eco-friendly options.

After years of analyst anticipation that the leg-squeezing silhouette would soon go out of style, market research firm NPD Group found sales for the skinny jeans fell behind straight leg jeans in 2021. Skinny jeans are far from dead though — still accounting for 30 percent of sales. Retailers have already felt the effects of the shift: Pacsun pulled the style from its stores because no one was buying it.  “It really just speaks to the changing of the times and how styles are evolving within fashion,” said BoF correspondent Chavie Leiber.   Key Insights:  Skinny jeans are no longer the most popular denim silhouette, according to data from NPD Group. But, that doesn’t mean no one is buying them.  As consumers come out of the pandemic, they don’t just want comfort. Shoppers are either skewing toward raw denim with no stretch or athleisure and leggings — but jegging and stretch denim styles occupying the in-between have started to fall to the wayside.  The world is in the midst of a “denim Renaissance,” says Marie Pearson, senior vice president of denim at Madewell, who added she’s never seen so many different types of fits and shapes selling. Additional Resources:  The Style That Finally Dethroned Skinny Jeans Why Skinny Jeans Will Never Die Fashion Drives New Denim Momentum   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. Hosted on Acast. See acast.com/privacy for more information.

BoF’s Chavie Lieber dives into the elaborate and secretive way luxury brands court their high-spending clients with trips to exotic locales and entry to exclusive events.  Background:  In the midst of a post-Covid luxury boom, brands are going the extra mile to lavish top spenders — known as very important clients, or VICs. To court and keep VICs, who often account for the majority of their sales, names like Givenchy, Balenciaga, Alexander McQueen and Chopard fly clients out to ritzy charity galas and film festivals, organise exclusive runway shows and extended stays in five-star hotels and even grant access to designers and executives.    “It's really about access to a designer, keeping them in the inner rings of the fashion world, so they feel seen and appreciated,” said BoF correspondent Chavie Lieber. “And then, obviously it leads back to more sales.”  This week on The Debrief, BoF’s Chavie Lieber takes Lauren Sherman inside the cloistered world of luxury clienteling.  Key Insights:  VICs, who can range from being very private to Insta-influencer status, are the engine powering luxury. Luxury e-commerce platform MyTheresa said 3 percent of its customers account for 30 percent of its business. In response to consumer appetite in the wake of Covid, brands have upped the ante on experiences for VICs and potential new big spenders. Much focus has been on the US, where spending in tertiary cities like Palm Beach and Austin — rather than New York and Los Angeles — is redirecting luxury’s attention. In the midst of economic turbulence, VICs are becoming even more important to brands, as entry level consumers hold off on spending-up.   Additional Resources:  How Luxury Brands Court the 1 Percent The Crypto Wealthy Are Luxury’s New Big Spenders The Two Hottest Cities in America  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.

Fashion industry faces challenges with greenwashing and lack of sustainability metrics. European policymakers consider regulating environmental claims. Brands struggle with complex methodologies and social factors in measuring impact. Efforts to standardize rules and labels for sustainability are underway in response to rising consumer demand.

BoF’s Tamison O’Connor explains how the fashion industry is betting on resortwear as consumers return to their pre-pandemic lifestyles and travel rebounds.    Background:  Every spring, top fashion clients, influencers and insiders are whisked away to lush destinations like Monte Carlo and Capri to indulge in fabulous dinners and cocktail parties — and sneak a peek at brands’ resort collections. Resortwear, which began as a way for luxury houses to cater to wealthy, travelling clients halfway through the main season, now represents so much more as a meaningful driver of sales for retailers.  “It's really attractive for the true luxury customer who sees these items as a fun way to accessorise a holiday, but it's also an entry point for more aspirational and younger consumers,” said luxury correspondent Tamison O’Connor.     Key Insights:  As consumers start travelling and treating themselves again, luxury is betting big on vacation dressing.  Resortwear stands apart with more casual designs, lighter fabrics and lower prices. Brands aren’t just using these collections to attract travellers and true luxury consumers, but also to snag wealthy domestic clients and appeal to aspirational buyers. Retailers are picking up on opportunities to engage wealthy consumers by building buzz with events and activations surrounding resortwear online and in stores. Big brands are opening more stores and pop-up markets in vacation towns.  Luxury doesn’t expect growth in the segment to slow, even amid global economic turbulence, travel restrictions in China and skyrocketing inflation.   Additional Resources:  Luxury Seizes the Vacation Dressing Boom  Loewe's Brand Within a Brand: Is This the New Way to Do Diffusion?  How Fashion Is Targeting the Travel Rebound   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. Hosted on Acast. See acast.com/privacy for more information.

BoF’s Marc Bain chats with Lauren Sherman about the 3D creators, game designers and NFT experts bringing fashion into the virtual world.  Background:  A new generation of digital creatives are leading fashion brands into virtual worlds by using their technical expertise and creative prowess to craft experiences for games like Fortnite or Roblox, and launch Web3 products like NFTs. Translating real-world brand imagery to virtual spaces, however, requires a unique skill set and grasp of the culture driving different ecosystems.  “There's a community that already exists [in the metaverse]. That's one of the things that brands have to consider …” said Marc Bain, technology correspondent. “Making sure what they're doing works for the community that's already there. You don't want to alienate people.”  Key Insights:  Creative studios like Emperia and BeyondCreative that specialise in the metaverse have seen an uptick in brand interest. Training in skills like 3D design is becoming more mainstream: fashion schools are teaching it and designers are making an effort to learn the tools. Even amid the hype, as Bain points out in his review of Decentraland’s Metaverse Fashion Week, digital fashion still often looks rudimentary. That’s due to a number of factors, like insufficient consumer technology, which proponents bet will evolve as worlds become more developed.  Additional Resources:   The New Creatives Bringing Fashion Brands Into the Virtual World: Their mix of technical expertise and digital artistry has put 3D creators, game designers and NFT experts in high demand among fashion brands as they venture further into virtual territories. Can The Metaverse Transform Fashion Business Models?: There may be a better analogy than e-commerce to size up fashion’s metaverse opportunity: will it be more like streaming or 3D movies? Lessons From Metaverse Fashion Week: Brands such as Tommy Hilfiger and Dolce & Gabbana were among those to test the virtual waters, encountering challenges like low-quality visuals as well as some opportunities. 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 Lauren Sherman and Matthew Schneier, senior writer at New York Magazine and The Cut, discuss the former star designer’s attempted industry re-entry following a slew of sexual assault allegations.  Background:  Following a flurry of sexual assault allegations — which some thought would wipe him from fashion forever — Alexander Wang is attempting a return to fashion. After dressing celebrities including Rihanna and Julia Fox, and honing his business strategy in China, the designer staged a runway show in Los Angeles historic Chinatown — his first live event in more than three years.   But his plans were thwarted when swarms of consumers rejected the idea of any kind of Alexander Wang comeback following the fashion show — making it clear that his return to fashion is in no way guaranteed. Will consumers buy into a revived Alexander Wang?  “It's up to the public to decide whether they are still interested in what he has to say and whether whatever issues they may have with him personally impact their interest in hearing it,” said Matthew Schneier, senior writer at New York Magazine and The Cut.  Key Insights:  The rise of the Alexander Wang brand was fueled by Wang’s energetic, party-forward image. Even before publicly facing allegations of groping, non-consensual touching and druggings — the relevance of Wang’s brand was beginning to fade amid market shifts including the rise of luxury streetwear labels like Off White.It remains unknown how much the scandal affected Wang’s brand. According to a source close to the business, e-commerce sales have almost doubled since 2020.  Additional Resources: Alexander Wang Plans a Comeback: After sexual assault allegations tarnished his brand, the designer is back with a booming business in China, an upcoming show in Los Angeles and a broader strategy. What Will Happen to Alexander Wang?: Five men spoke to BoF about similar encounters with the New York-based designer, who is facing an onslaught of sexual assault allegations, which he vehemently denies. Could a backlash hurt his business?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.

Fast fashion upstart Shein set the industry ablaze this month after reports it was seeking to raise $1 billion in funding at a $100 billion valuation, according to Bloomberg. Shein has upended fast fashion by making apparel at jaw-droppingly low price points and gaining market share, attracting major investors. But is it profitable?“Even if Shein isn’t profitable now, the thesis is that if enough people shop from the brand it would be able to leverage some of its operational costs … It could become a very lucrative business,” said Chen. Key InsightsWhile it is unknown whether Shein is profitable, the retailer drives ultra-high sales volume and razor-thin margins Shein is powered by a nimble, AI-driven supply chain, which allows it to produce a plethora of trendy items for an internet-obsessed young fashion audience almost instantaneously. The retailer’s app uses casino-like tactics and rewards to draw shoppers in and keep them buying, sharing and engaging. Despite its murky manufacturing process and reputation for amplifying rates of consumption, Shein is popular among young consumers — who purport to care about sustainability. Additional Resources The $100 Billion Shein Phenomenon Explained: Reports revealed that Shein is seeking over $1 billion in funding at a $100 billion valuation. BoF breaks down how the fast-fashion disruptor has built a global business that now rivals Zara and H&M. How to Compete With Shein: The Chinese fast fashion giant built an empire on unmatched speed-to-market and unbelievably low prices. To compete, others must play a different game. 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.

In this weekly series,  BoF’s chief correspondent will go behind the scenes of the $2.5 trillion global fashion industry.  Fashion has the ability to move markets, shake up cultural norms and even transform society. But who — and what — are the forces driving major change? We’re answering that question on The Debrief, a new weekly podcast series from The Business of Fashion, where we go beyond the industry’s glossy veneer to understand how the fashion business is evolving, from the inside out. Hosted by BoF’s chief correspondent Lauren Sherman, The Debrief will be your guide into the megalablels, indie upstarts and unforgettable personalities shaping the $2.5 trillion global fashion industry. Each week, Lauren will take you through BoF Professional story —  in conversation with our correspondents and industry experts — to unpack the analysis and insights you need to know to navigate an industry undergoing rapid change.From the rise of direct-to-consumer disruptors, to the rapid consolidation of the luxury industry, to cultural shifts turning beauty upside down. BoF covers it all. Make sure to follow wherever you listen to podcasts to never miss an episode.  Join BoF Professional today with an exclusive 25% discount on an annual membership, follow the link here. Email Lauren with your feedback, ideas and tips at lauren.sherman@businessoffashion.com Hosted on Acast. See acast.com/privacy for more information.