The Business of Fashion Podcast
The Year That Changed the World

The Year That Changed the World

March 19, 2021

A year after coronavirus lockdowns swept the world, BoF’s Imran Amed looks back at a period of sweeping change in conversation with leading voices from inside and outside fashion.

Unraveling Kering’s Investment in Vestiaire Collective

Unraveling Kering’s Investment in Vestiaire Collective

March 5, 2021

Vestiaire Collective’s chief executive Max Bittner opens up about the resale platform’s big deal with the French luxury group.

 

This week, a new €178 million round of financing put Vestiaire Collective’s valuation above $1 billion and gave it a high-profile new partner in the form of Kering, one of the world’s leading luxury groups. Having acquired a 5 percent stake in the Paris-based resale company, Kering joined investors like Condé Nast, French private equity firm Eurazeo and tech-focused investment firm Tiger Global Management.

Though resale has become increasingly popular in recent years, thanks to the growth of platforms like Vestiaire Collective, luxury brands have been reticent to get involved. Kering’s investment marks a notable shift in attitude.

In the latest episode of the BoF Podcast, Vestiaire Collectives’s chief executive, Max Bittner, sits down with BoF’s founder and editor-in-chief Imran Amed, to explain why Kering invested in the company and what that investment means for the company’s future, and why he believes the resale market is an exciting and fast-expanding sector.

”This is not a short term trend,” said Bittner. “This is something consumers are looking for. This is something especially young consumers are expecting from the brands they want to endorse. So, I think both us and the brands are realising consumers expect us.”

Related Articles:

Why Kering Invested in Vestiaire Collective

Should Luxury Build Resale Into Its Business Model?

The Resale Gold Rush Rolls On

 

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How Virgil Abloh Is Lifting Up Fashion’s Next Generation of Creatives

How Virgil Abloh Is Lifting Up Fashion’s Next Generation of Creatives

February 23, 2021

The designer speaks with BoF editor-at-large Tim Blanks about his latest collection, making change and the importance of elevating the next generation of fashion creatives.

 

When Virgil Abloh first broke into fashion he remembers feeling like a tourist. The designer began his career in architecture and says he struggled to find his place in an industry of insiders. But after three years at the helm of Louis Vuitton’s menswear division, the Off-White founder is now very much part of the establishment. In the latest episode of the BoF Podcast, Abloh speaks with BoF editor-at-large Tim Blanks about his hopes of paving the way to a more democratic and inclusive industry for the younger generation and why he’s launched a TV station.

The designer is increasingly focused on lifting up the next generation of young designers, conscious of his responsibility to open up the industry. Last year, he raised $1 million to launch the “Post-Modern” Scholarship Fund for Black students.

 

Related Articles:

Virgil Abloh: ‘You Have to Choose Your Message Wisely’

What’s Off-White Without Virgil?

Virgil Abloh: ‘I Am Not a Designer’

 

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Kim Jones on the Making of Air Dior

Kim Jones on the Making of Air Dior

February 9, 2021

The artistic director of Dior Men who is now also leading the women's collections at Fendi, speaks with BoF’s Imran Amed about the enduring power of youth and desire and the making of the Air Dior shoe.

Designer Kim Jones went from being a teenager with joint custody over one pair of on-sale Jordan 5s with three friends to creating one of the most sought after shoes in the world by bringing together three iconic brands: Nike, Jordan and Dior. To create the Dior X Air Jordan, which dropped mid-pandemic in June of 2020, he took the Jordan 1 silhouette, applied Dior’s leather and Italian techniques and infused it all with Michael Jordan’s personal cool-guy style.The much-hyped, $2,200 shoe sold out in minutes after being released online. Soon after, the shoes were spotted being resold for as much as $12,000 on StockX.In this conversation from VOICES 2020, Jones covers everything from ethical consumption to the enduring power of youth and desire.  

  • Young people influence the way Jones thinks about his designs. He invites his god children and children of friends over to watch them dissect his wardrobe, listening carefully to what they have to say. “Young people are learning they want to buy less, and things that last longer,” Jones said.
  • Buying vintage, handing things down through generations, and luxury all tie together for Jones. “The thing about luxury that I like is it’s clothes that are built to last and there’s not that many made of things,” he said. “I care about the world a lot so it’s something I do consider that there’s not much waste. We don’t have tons of stuff left over.”
  • The streetwear-meets-luxury space has exploded in the last few years. Jones sees it as a mix of comfort and easiness that fit in with modern daily life. His go-to is tailored pants and jackets with knitwear or a jersey piece. “When you’re working quite often, when it’s with your hands it’s easy,” he said.
  • He advises aspiring designers and other young creatives to think less about status and more about fulfilment. “Never think about the money, think about doing the job. Work hard,” he said. “Don’t think about social media, think about the actual reality. Just get on with it, and ask questions. I ask questions all the time and that’s why I’ve learned so much.”

     

 

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The Future of Moncler’s ‘Genius’

The Future of Moncler’s ‘Genius’

December 8, 2020

At BoF VOICES, Remo Ruffini speaks to Imran Amed about adapting his brand’s programme of designer collaborations to a post-pandemic reality where Chinese customers and online activations are paramount.

 

After global fashion sales fell by 27 percent to 30 percent this year, according to estimates in BoF and McKinsey’s State of Fashion 2021 report (released Wednesday), the industry is bracing for a difficult and (likely incomplete) recovery next year. The important thing is to adapt.
“This crisis could be an opportunity,” Moncler chief executive Remo Ruffini said at VOICES last week, predicting the fashion market is unlikely to return to pre-pandemic norms before 2023. “You cannot stay sitting in your chair for two or three years. We need to find new projects and new ways to work.”

With an eye on the rising importance of both digital and China, he’s planning to stage the launch for his next round of “Genius” collaborations in the country this September, with an event mixing physical and online elements. Since 2018, the Italian outerwear label’s “Genius” programme — a series of ultra-hyped, one-off collections from guest designers — has helped the brand reach untapped consumer niches, been a focal point for parties and store activations, and, perhaps most importantly, fuelled visibility on social media.

“The collection will be more customer-centric,” Ruffini said. “We’ll still have people there, but with a different approach.”

Elsewhere, the executive is planning bolder moves. Our conversation took place shortly before Moncler announced it would acquire Stone Island in a transformational move — opening the door to becoming a multi-brand group after nearly two decades of rapid expansion under the banner of a single brand.

 

Related Articles:
Moncler Buys Stone Island in Transformative Move
VOICES 2020: Fixing the Fashion System
Moncler to Stage Genius Show in China in Pandemic Pivot

 

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Tory Burch on Finding Purpose in Female Empowerment

Tory Burch on Finding Purpose in Female Empowerment

November 26, 2020

The American designer discusses the power of many businesses to be advocates for change.

 

The last few years have offered Tory Burch, founder of her namesake womenswear label, time to focus less on business and more on design, particularly since her husband Pierre-Yves Roussel took on the role of chief executive in 2018. Now, the pandemic is giving her even more time to focus on perfecting product, a rare silver lining of an otherwise challenging situation.
 
In the latest episode of the BoF Podcast, BoF editor-at-large Tim Blanks speaks with Burch about her activist-focused approach to business and how the last 10 months have shaped her fashion label.
 
  • Restriction is a crucial component of creativity. To Burch, the travel restrictions and social distancing measures have opened new avenues of creativity, fostering agility and resourcefulness. “One thing that’s happened because of lockdown is it makes you stand still,” said Burch. “To be able to be in one place has been really transformative on many levels.”
  • Burch emphasises that what constitutes luxury needs to be reconsidered. “I really believe luxury isn’t about a price point, and I think that’s relatable particularly today,” she said. “How do you design beautiful things that are timeless and that will last? That’s what I’ve been thinking about,” she said, adding that having time to spend is the ultimate luxury.
  • Through the Tory Burch Foundation, a non-profit dedicated to advancing women’s empowerment, Burch is finding new avenues through which to support women and help them weather the coronavirus crisis. “Its horrendous for women right now,” said Burch. “They are taking care of children at a much higher rate than men. We have had to help many women figure out how to take out PPP loans… We had to pivot to really be a resource for women.”

 

Related Articles:
Tory Burch Names Pierre-Yves Roussel CEO
Independent Women Brought Hope to Fashion’s Virtual Spring
Visual Metaphors at Tory Burch

 
 
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Imran Amed and Tim Blanks on a Most Unusual Fashion Month

Imran Amed and Tim Blanks on a Most Unusual Fashion Month

October 15, 2020

Amed and Blanks reflect on this season’s collections, the shift to digital and the limitless potential power of creative collaboration.

 

 

LONDON, United Kingdom — This last fashion month has been unlike any other. After much of the year working under lockdowns, brands largely shifted to digital channels to showcase their newest collections. In the latest episode of the BoF podcast, BoF Founder and CEO Imran Amed and BoF Editor-at-Large Tim Blanks reflect on the season's most compelling moments and lasting impact.

  • Virtual presentations haven’t always landed, but this season felt different, said Blanks. “There was so much thought and creativity and ingenuity applied to new ways of doing business and new ways [of showing work]... It was a very different ball game.”
  • In London, Blanks was struck by female designers like Bianca Saunders, Ahluwalia and Supriya Lele who “did these super strong presentations that were provocative and affirmative and positive,” he said. Overall, London Fashion Week was defined by a joyful defiance during a time of crisis. In Milan and Paris, Blanks and Amed referenced Prada and Rick Owens as two of many shows that stood out to them.
  • This season also made clear the power of strong partnerships. Through creative collaborations between designers and filmmakers, brands have managed to bring their collections to life to audiences the world over. “It changes the fundamental conception of fashion being about the designer, now we have a much more collaborative thing happening,” said Blanks. “That’s a shift, I think.”

Related Articles:

How Impactful Were the Digital Fashion Week Shows, Really?

Who Will Win the Digital Fashion Week Battle?

How to Make Digital Fashion Weeks Work

 

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Daniel Roseberry on the Schiaparelli Challenge

Daniel Roseberry on the Schiaparelli Challenge

October 1, 2020

The artistic director tells Tim Blanks about reigniting the surrealist maison, and why fashion doesn’t have to be ‘relevant’ right now.

 

LONDON, United Kingdom — Daniel Roseberry grew up in Texas, far from his current professional home at Elsa Schiaparelli’s Place Vendôme headquarters, but he always knew he wanted to work in fashion. “It was always something that I was interested in that no one else around me knew anything about,” he told BoF Editor-at-Large Tim Blanks in the latest episode of The BoF Podcast. “It was this idea of fantasy.” Appointed as Schiaparelli’s artistic director last year, Roseberry lifts the lid on his journey as a designer and his approach to honouring, but not replicating, the vision of the maison’s founder.
  • Before Schiaparelli, Roseberry, spent more than 10 years at ready-to-wear label Thom Browne “There’s nowhere else I could have worked in New York that could have prepared me for the kind of hours that go into a garment… It was my only job before Schiaparelli in fashion and so that was my first foray into this kind of approach.” Despite having over a decade worth of experience, nothing could have prepared him for the challenges of being that “person that has to step out at the end of the show and wave.” Roseberry often wondered when his time would come and the journey has been a learning process. “I thought I knew what it was like to maintain a vision throughout the entire creative process… when there’s so many moving parts… that is the challenge… and it’s something that I’m getting better at.”
  • When it comes to adding his stamp and reinventing the maison, Roseberry tries to “honour... and embody [Elsa Schiaparelli’s] ethos.” The maison shuttered in 1954 and only reopened six years ago. Roseberry is the third artistic director to take its helm. “Trying to replicate what [Schiaparelli] did, which also seemed to be so effortless and such a product of the time and place in which she lived, would be a very arrogant disaster,” he said.
  • Following the outbreak of Covid-19, the industry all but came to a halt and brands had to find ways to pivot to keep their heads above water. For Roseberry “fashion shows don’t have to be relevant right now. There’s so many other things that are more important and I wish that fashion people could allow themselves to sit with that discomfort.” When asked about the future of fashion, Roseberry, like many during this crisis, is unsure but believes that is ok. “Fashion is so obsessed with predicting itself and I think it’s because deep down we know how… not essential we are [right now]… and I think there is an insecurity there.”
 
Related Articles:

 

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Lulu Kennedy on London’s Young Creatives

Lulu Kennedy on London’s Young Creatives

September 24, 2020

BoF’s Editor-at-Large Tim Blanks speaks with the Fashion East Founder about the future of London’s emerging designers.

 

LONDON, United Kingdom — For twenty years, London's Fashion East has helped incubate and support emerging designers hoping to establish themselves as the industry’s next big thing. The imperative to nurture emerging talent is even more urgent now, as young designers enter an increasingly uncertain industry. In the latest episode of the BoF Podcast, BoF Editor-at-Large Tim Blanks speaks with Fashion East Founder Lulu Kennedy about what the future of fashion might look like for emerging creatives and independent designers.

  • One major change in the last twenty years is the decline in funding available to stage grandiose fashion shows. “Sponsorship was very good [20 years ago],” Kennedy said. “It’s not as easy now; you have to work harder with the budgets you have.” While strict financial limitations can help foster creativity, it also adds pressure on young designers hoping to compete with more established players.
  • When asked why London remains a central hub of exciting new design talent, Kennedy points to its stellar colleges and powerful and pervasive youth culture. But London-based designers also face specific challenges. “There is a lot of frustration with designers trying to get stuff made on time, in budget and that’s good quality,” Kennedy said. “Going forward with Fashion East, I would love to secure some manufacturing partnership.”
  • Lookbooks and short films have become crucial for designers during the pandemic, when real-life shows are restricted. But standing out amid the social media noise is no easy feat. In fact, the best advice Kennedy has to offer is authenticity: “Be true to yourself. Don’t be second guessing and looking at what other people are doing over your shoulder. Just do you.”

 

Related Articles:

In London, Emerging Designers Face a Critical Season

Where Do Independent Fashion Brands Go From Here?

How to Break Into Fashion When You Don’t Already Have Money

 

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Craig Green Says, ‘Fashion Can Come From Anywhere’

Craig Green Says, ‘Fashion Can Come From Anywhere’

September 17, 2020
The designer speaks with BoF Editor-at-Large Tim Blanks about his ongoing Moncler collaboration and his dream of designing a wardrobe classic.
 
LONDON, United Kingdom — Known for his intricate seaming and detailed designs, Craig Green is currently hard at work on his Spring/Summer 2021 collection — which he is aiming to reveal in October. This time, however, it won’t be in a fashion show format. Rather, Green is exploring alternative ways of showcasing his collection that he feels are more appropriate to the times. “The way everything changed so suddenly shows you can’t really plan for anything,” Green told BoF Editor-at-Large Tim Blanks. In the latest episode of The BoF Podcast, Green and Blanks reflect on the designer’s ongoing collaboration with Moncler, his love of problem-solving, and his dream of designing a wardrobe classic.
  • Protection and functionality are the two words that come to Green’s mind when he thinks of Moncler, so it was crucial to incorporate them into the collections he continues to design for the heritage skiwear label. “The first collection we did with Moncler, I thought it would be interesting to think about the most obvious imagery that we associate with [the brand] like mountains and the outdoors,” the designer said. The initial partnership gave birth to many years of collaboration that most recently saw Green reimagining Moncler’s staple winter jackets into wearable art for Collection 5, which launched last December.
  • “Fashion can come from anywhere and can come from anyone,” said Green. “You have an idea of what fashion as a career will be, and then you discover designers who are so uncompromising in what they do and so individual in their voice.” For Green, it is problem-solving that continues to draw him to fashion; the endless possibilities of constructing new shapes and silhouettes using a range of textiles and patterns.
  • Green’s ultimate goal is to design a wardrobe classic, like a Burberry trench coat. But for Green, the staple is more likely to be a workwear jacket. “For a brand or designer to create one of those items is really an achievement,” said Green. “I have great respect for designers that own wardrobe classics.”
 
 

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