The Business of Fashion Podcast
Scott Galloway on Breaking Up Big Luxury | Inside Fashion

Scott Galloway on Breaking Up Big Luxury | Inside Fashion

May 29, 2020

The bestselling author and business professor offers his insight into the challenging market and M&A landscape that industry players of all sizes have to navigate.

Scott Galloway is no stranger to expressing views as provocative as they are incisive. The author, business school professor and serial entrepreneur has a lot to say about the state of the market in the era of Covid-19, but his observations and predictions are also, crucially, grounded in wider social, political and economic arguments — whether that’s the now-untenable position of American exceptionalism, the burden of student debt or the failings of intergenerational wealth distribution. Speaking in conversation with Imran Amed, Galloway shares his thoughts on the state of the luxury sector, importance of e-commerce and the indomitable power of Amazon, a company he describes as “firing on all 12,000 cylinders” yet still can’t crack the fashion market. Here are some of the key takeaways:
 
  • “The class of IPOs that will come to the markets in the next 3-6 months will boom,” said Galloway. “I think the markets are going to accelerate but people conflate the markets with the economic health of america. The markets are nothing more than an indication of how the top decile of Europe and America are doing.” 
  • Amazon’s tricky relationship with fashion and luxury is hard to reconcile. “Amazon partners with an industry the way a virus partners with a host,” he said, which explains why luxury brands have traditionally kept the e-commerce giant at arm’s length. Even with the remarkable acceleration of e-commerce in the past eight weeks, however, Amazon’s algorithmically driven retail model does not allow for the forward-looking trend cycle on which the fashion industry operates.
  • Luxury is a relatively well-positioned industry. “The majority of sectors in the world would pray for luxury’s problems right now,” he said, but much like big tech companies, conglomerates in the luxury space create “an unhealthy environment where too few players are allowed to [accrue] too much power... if you wanted to oxygenate the economy around luxury you would go ahead and break them up.”
 
 
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Jochen Zeitz on the Power of Fashion to Drive Sustainable Change

Jochen Zeitz on the Power of Fashion to Drive Sustainable Change

May 21, 2020

The former CEO of Puma has been one of the fashion industry’s leading sustainability advocates. As part of our special edition on building a responsible fashion business, Zeitz talks to BoF CEO Imran Amed about finding opportunities in crisis.

  • The former CEO of Puma has spent his career advocating, and sometimes agitating, for change to more responsible business practices. As he steps into a new role at the head of Harley-Davidson, he offers advice about finding opportunities in crisis.
  • “Iconic brands have a tremendous opportunity to contribute to a change in consumer behaviour as a whole,” Zeitz said, mounting a defense of consumer culture when managed responsibly. “Growing while reducing has to be the parameter of the future. We can grow, but we have to reduce our footprint over-proportionately to the impact we are having through our growth.”
  • The current crisis in particular could prove an important catalyst to drive change towards better ways of doing business. “Now you can make the business case for the planet and you can say what we’re experiencing now with the virus is just a fast way of experiencing climate change that will happen over decades,” Zeitz said. “This virus is testament for a needed fast change in order to deal with a much bigger crisis that will be affecting all our lives around the world in 20, 30 years to come.”
  • Companies that fail to move may well get left behind. “I look at every crisis as an opportunity… to look at your business and how you operate and say what can we really essentially change to adjust ourselves to the new normal,” Zeitz said. “If businesses don’t ask themselves that question, you will be part of history, rather than the future.”

 

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Special Edition: Jonathan Anderson Says, ‘If It Feels Fake, I Don’t Want It’

Special Edition: Jonathan Anderson Says, ‘If It Feels Fake, I Don’t Want It’

May 9, 2020

The creative director of JW Anderson and Loewe talks to BoF Editor-at-Large Tim Blanks about the need for greater transparency in the fashion industry.

 

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Special Edition: Rafat Ali on the Month the World Stopped Travelling

Special Edition: Rafat Ali on the Month the World Stopped Travelling

May 1, 2020

In the latest special edition of the BoF Podcast, Rafat Ali, founder and CEO of the B2B travel news site Skift, talks to BoF Editor-in-Chief Imran Amed about the tourism standstill following the outbreak of Covid-19 and its impact on travel retail.

 

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Special Edition: Imran Amed on Finding Opportunity in a Crisis

Special Edition: Imran Amed on Finding Opportunity in a Crisis

April 29, 2020

BoF’s Founder and Editor in Chief joins educator and activist Sinéad Burke to discuss how BoF is forging ahead during the Covid-19 crisis in a live event hosted by Istituto Marangoni.

 

 

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Special Edition: Silvia Venturini Fendi Will Surprise You

Special Edition: Silvia Venturini Fendi Will Surprise You

April 24, 2020

In the latest special edition of the BoF Podcast, Fendi Creative Director Silvia Venturini Fendi talks to BoF Editor-at-Large Tim Blanks about everything from the future of smart clothing to the end of the fashion show as we know it.

 

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Luis Venegas on Print Media in an Age of Uncertainty | Inside Fashion

Luis Venegas on Print Media in an Age of Uncertainty | Inside Fashion

April 17, 2020

In the latest episode of the BoF Podcast, Madrid-based publisher Luis Venegas talks to BoF Editor-at-Large Tim Blanks about the fate — and resilience — of print magazines.

 

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Special Edition: Sam McKnight on Why Fashion Is the ‘Eternal Optimist’

Special Edition: Sam McKnight on Why Fashion Is the ‘Eternal Optimist’

April 10, 2020

In the latest special edition of the BoF Podcast, celebrated hair stylist Sam McKnight talks to BoF Editor-at-Large Tim Blanks about the future of hairstyling and the fashion industry beyond the coronavirus pandemic.

 

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Special Edition: Charles Jeffrey on What It’s Like to Be a Rising Designer in the Midst of a Pandemic

Special Edition: Charles Jeffrey on What It’s Like to Be a Rising Designer in the Midst of a Pandemic

April 6, 2020

In the latest special edition of the BoF Podcast, designer Charles Jeffrey talks to BoF Editor-at-Large Tim Blanks about self-reflection during the coronavirus crisis, and the evolution of his brand, Loverboy.

 

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Special Edition: Journalist Rana Ayyub on Why Social Distancing Is a Privilege

Special Edition: Journalist Rana Ayyub on Why Social Distancing Is a Privilege

April 3, 2020

In the latest special edition of the BoF Podcast, Indian journalist and author Rana Ayyub joins BoF’s Editor-in-Chief Imran Amed to discuss the impact of Covid-19 on the lives thousands of migrant labourers, many of whom work in India's now-shuttered textile industry.

 

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