The Business of Fashion Podcast
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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Welcome to Retail Reborn from The Business of Fashion | Trailer

Welcome to Retail Reborn from The Business of Fashion | Trailer

September 14, 2020

In an exclusive new series from The Business of Fashion in partnership with Brookfield Properties, Doug Stephens and BoF investigate the seismic shifts transforming the retail ecosystem. From the post-pandemic consumer psyches to increased risk and growing calls for responsibility, BoF identifies the forces transforming the retail market and what they mean for the global industry.

The Retail Reborn Podcast launches on Tuesday 15 September. Subscribe now to never miss an episode.

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Farfetch’s José Neves Says Profitability Is Still Possible in 2021

Farfetch’s José Neves Says Profitability Is Still Possible in 2021

July 9, 2020

LONDON, United Kingdom —For Farfetch Founder and Chief Executive José Neves, the last six months have not only been about protecting his own business from the fallout of Covid-19, but also supporting the hundreds of boutiques around the world — from China, Japan and Korea to the Middle East and Europe — that sell their goods online through the luxury marketplace.

“We've been able to support the boutiques and the brands on the platform at crucial time where online is, for many, the main channel and for some... the only channel,” Neves told BoF Editor-in-Chief Imran Amed in the latest episode of The BoF Podcast.

But as Neves explained, more challenges lie ahead for Farfetch and the global fashion industry at large.

  • Neves described the platform’s performance as “very solid,” and expects to see an acceleration in its second quarter, with year over year growth of 25-30%. Part of this success can be attributed to the business shifting its focus to markets where consumer sentiment has started to recover, according to Neves.
  • But Farfetch is still losing money, and investors and market analysts have questioned the company's recent acquisition of New Guards Group (NGG). The acquisition may have bolstered profitability, but it took the business in an unexpected direction: actually owning the brands it sells on its platform. But Neves said he remains “confident” that Farfetch will achieve profitability by 2021 — a goal it outlined last year, and that the NGG business is a brand platform in its own right.
  • The luxury industry has been bracing for what has been called “the mother of all sales,” as retailers are forced to drastically discount their surplus of spring merchandise. Some observers have pointed to Farfetch as a regular culprit with respect to the industry's discounting addiction even before the Covid-19 pandemic. Neves says the discounting decisions are made by the brands and the retailers themselves, and that Farfetch is simply the platform they use to go to the market, but acknowledges that deep discounting is a systemic industry problem.
  • Neves believes the fashion industry will finally reckon with its wasteful and unsustainable business practices — and partially because it can also reduce costs. “I do think the industry had an oversupply problem, which is an environmental problem as well," he said. “Platforms have a responsibility to… incentivise customers to shop consciously. By doing that you create an incentive for brands to be more conscious or to be totally ethical and sustainable if they can.”

 

Related Articles:

A Cloudy Picture at Farfetch

Farfetch Signals Growing Ambitions in Resale

Why Farfetch's Free-Spending Ways Have Some Investors Concerned

 

Watch and listen to more #BoFLIVE conversations here. To contact The Business of Fashion with comments, questions, or speaker ideas please e-mail podcast@businessoffashion.com.

 

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Roger Federer on Partnering with On Running and Designing his First Shoe, The Roger

Roger Federer on Partnering with On Running and Designing his First Shoe, The Roger

July 6, 2020

The tennis legend and cult running shoe label On are launching a sneaker together. In the latest edition of the BoF Podcast, Federer shares what's next.

ZURICH, Switzerland — It’s been 17 years since Roger Federer won his first Wimbledon championship. Now, the 20-time Grand Slam winner is commemorating the date with the launch of his first sneaker for Swiss running label On.

Named “The Roger,” Federer’s debut is inspired by a tennis shoe, but it’s designed to be much lighter and intended for everyday wear, rather than professional sports. As with On’s more performance-driven trainers, the shoe is outfitted with the “CloudTec” technology (a special sole designed to enhance the running experience) for which On is best known. The company’s first “Cloud” performance sneaker, launched in 2010, quickly gained traction among the running community.

Federer’s tie-up with On is much more than the typical ambassador-brand relationship. For starters, he invested an undisclosed amount in the company last year, consulting for the brand before signing on to co-develop product. As the tennis star put it to BoF's Imran Amed in an exclusive interview for the BoF Podcast, he wanted to see if it would be possible “to create a deal and partnership that is more than the pay-to-play deal.”

 

Related Articles:

Roger Federer Buys Stake in Swiss Running Shoemaker

How Are Sports Brands Marketing Without Sports?

Uniqlo’s $300 Million Bet on Federer

 

Watch and listen to more #BoFLIVE conversations here. To contact The Business of Fashion with comments, questions, or speaker ideas please e-mail podcast@businessoffashion.com.

 

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Anna Sui Says, ‘You Can Define an Era By the Clothes’

Anna Sui Says, ‘You Can Define an Era By the Clothes’

June 16, 2020
The American designer speaks to BoF’s Editor-at-Large Tim Blanks about how fashion mirrors politics.
LONDON, United Kingdom — The world has changed immeasurably since designer Anna Sui’s last fashion show took place in New York in February. Her next collection is likely to reflect this transformation. “Fashion is a mirror of the times — you can define an era by the clothes,” Sui told BoF Editor-at-Large Tim Blanks. “What people are wearing mimics the politics of the times.”
Over the last few months, the world has grappled with a pandemic, a steep economic downturn and, more recently, widespread anti-racist protests. In this week’s special edition of the BoF podcast, Sui makes predictions on how these global events might impact the future of her industry.
 
  • People have spent much of the lockdowns at home in sweats and a T-shirt. Sui believes that people might go polar opposite once social distancing restrictions are relaxed. “Suddenly [people] are going to want to be seen,” Sui said, adding that eating at restaurants and drinking at bars will once become occasions for self-expression.
  • Handicrafts may see a resurgence as “people are now taking the time to relearn those skills,” Sui said. Tie dying, crocheting and knitting might well become popular creative outlets for the many people investing time in new hobbies — and this shift could be reflected in upcoming collections.
  • Sui hopes the pace of the industry will slow down and allow space for self-reflection. Looking back to the 1990s, “[There] wasn’t this frantic need to be working all the time, I remember enjoying the holidays,” Sui said. “Let’s hope that this gets back under control and that we learn how to balance out our lifestyles again.”

Sweatsuits and Yoga Pants Are Selling Like Crazy. What Happens When Lockdowns End?
A Proposal for Rewiring the Fashion System
Why Fashion 'Seasons' Are Obsolete 

 

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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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Marc Jacobs Says, ‘I Still Have Stories to Tell’

Marc Jacobs Says, ‘I Still Have Stories to Tell’

May 18, 2020

As American fashion changes rapidly in real-time, Jacobs shared his thoughts on the state of an industry in flux.

  • Jacobs revisited his last fashion show at the Park Avenue Armory. “I would be very happy if that were my last show,” he said. New York’s role in global fashion is waning, and the future of live fashion shows in the coming months and years remains uncertain. “We don’t know if there will be much of a fashion industry in New York,” said Jacobs. “Will the people that have the skill still be around?”
  • Furthermore, the waste within the industry, and the flawed system of scheduling and orders has put more of an impetus on designers to slow down. “The idea of being forced to create something and tell a story constantly when it has no soul feels so vacant,” said Jacobs, pointing also to the wasted fabrics and unused products that end up in landfills. “The urge to make things and create things hasn’t gone away… I still have stories to tell,” he added. Maybe how that happens will change.
  • Digital collections and online shopping aren’t adequate substitutes. “Ordering online in a pair of grubby sweats is not my idea of living life,” said Jacobs, comparing the experience to looking at art online. “I don’t look at a Rothko online and cry.”

 

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Millard Drexler on Why ‘Growth Is the Enemy

Millard Drexler on Why ‘Growth Is the Enemy

May 15, 2020
The New York-based “merchant prince,” best known for his time at J. Crew and Gap, is now watching the American retail landscape crumble as brands and retailers struggle under store shutdowns and debt restructuring. He did offer some advice, and warnings, on the state of American shopping, and what it might look like after the pandemic.
  • “If you’re not a micromanager, you’re not doing your job well,” said Drexler. With too much assortment, and too much retail space, brands need to determine what’s necessary and get creative with their offerings. This same practice should also be applied to wholesale accounts. “Own the brand, don’t let someone else put it on sale, and you’re safe,” he said.
  • Rethink what growth means for your brand. “Growth is the enemy,” said Drexler, looking to the rise of VC-backed brands that have struggled to successfully scale and break even. Now is not the time to pursue top-line growth at the cost of profit margins. “That’s what investors want, and they’ll do dumb things to get there,” said Drexler. “More is not better, the new big is small in my mind.”
  • The American department store’s make or break. “It’s pretty much near the end,” said Drexler. There’s no reason for them, he argued, unless the assortment and store curation are unique and compelling: “I’m not impressed [and] I haven't been for years with the choices out there.”

 

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Special Edition: Alber Elbaz Is a ‘Zoombie’ Now

Special Edition: Alber Elbaz Is a ‘Zoombie’ Now

May 12, 2020

The designer speaks to BoF Editor-in-Chief Imran Amed about life under lockdown and the future of young designers.

 

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