Fashion Industry News Roundup: 09/14/08
Marc Jacobs Steals the Show in New York:
"Retail sales are in a slump, we're in a historic mortgage and credit crisis, and the eyes of the world are riveted on our heated presidential race, not our runways . . . Which is why Marc Jacobs' show was so brilliant. He didn't just show us clothes, he showed us a way to dress, acknowledging that in hard times, style comes before fashion . . . Jacobs' collection was a melting pot of influences, combining classical draping with the rhythms of the street; the finest foiled florals with the plaids of a work shirt; a sculpted, couture-like jacket with a shiny scrap of fabric that could have been picked up at a flea market . . . In the midst of an election that is shining a light on what it means to be a woman in America, Jacobs embraced the experience, then put it in a blender."
The response of the fashion press to the Jacobs show was one of near unanimous approval, mostly for his ability to embrace the economic downturn by showcasing a collection of separates and accessories that can be worn anywhere and with anything. A video clip of the Jacobs show is below:
Alaska Gov. Sarah Palin Sparks a Fashion Frenzy:
"Since John McCain chose her last month as his running mate, Gov. Palin's personal style has sparked a buying frenzy. Many women are snapping up her choices of shoes and eyeglasses and blogging about which brand of lipstick she wears . . . This year, the sight of Michelle Obama in a $148 black-and-white tank dress on ABC's "The View" in June helped popularize Chico's FAS Inc.'s White House|Black Market brand. But the prospect of having a national candidate who is a former beauty queen and in the news every day is even better for business, many fashion companies say."
Video clip below of an ABC news report that talks about how sales of rimless glasses have skyrocketed ever since Palin appeared on the national stage:
Million Dollar Counterfeit Goods Bust in Canada:
"This week, RCMP officers swooped down on a retail store in Langley, snapped up armloads of phony Prada and Gucci bags and arrested two women for selling counterfeit goods. The seizure was notable for its size - police estimate that goods involved had a retail value of up to $1-million - and for taking place in Langley, known more for horses than high fashion . . . The exact value of counterfeit goods entering Canada is not known, but it easily amounts to "several billion" dollars a year, Cpl. Massie said, adding that an estimated 80 per cent of such goods are from China."
A $1 million dollar bust is a drop in the bucket where counterfeit goods are concerned, but it looks like police are changing tactics and busting the retailers who sell the goods rather than chase the counterfeiters themselves. This kind of tactic will make the retailers of counterfeit products nervous and hopefully diminish wholesale demand for the fake bags, watches and other goods.
Could McDreamy Already Be McDumped:
"Versace has . . . reportedly replaced their old spokesperson Patrick Dempsey with Chace Crawford. Versace put out a statement that Chace been outfitted by the label for his past three events he's attended . . . When the label was approached about the rumors of signing Chace, a spokesperson said: 'We have been working hard to develop our relationship with Chace - and that is all we can say on the subject. Patrick Dempsey is contracted with us through to Spring/Summer 2009. It is undetermined who will replace him at this time.'"
Chace Crawford is significantly younger than Dempsey, just as Gossip Girl (Crawford's TV vehicle) targets a significantly younger demographic than Dempsey's Gray's Anatomy. I did think that Dempsey, no matter his popularity at the time, was an odd fit as a Versace spokesmodel, and it seems that Versace agrees. It certainly didn't take long . . .
Teenagers are Now Buying Into the Luxury Lifestyle:
"An increasing number of teens aren't buying $40 Gap sweaters anymore. They're buying $400 Armani cashmere sweaters with seemingly recession-proof allowances. Designer labels make up about 15.3 percent of 13- 17-year-olds' purchases, compared with 9.6 percent five years ago, according to the NPD Group, a market research firm based in Port Washington, N.Y . . . Since 2003, Armani climbed 29 points in the "Brand Love index," a list of teens' favorite brands compiled by the Harrison Group, a marketing consulting company out of Waterbury, Conn. Compared with a year ago, girls now spend 11 percent more on luxury items, even though their overall spending on clothes, shoes and accessories fell three percent, according to the NPD Group."
I remember when Levis were the coolest jeans you could own. I'm sure parents look back with great fondness on those days . . . this also might help explain Versace's contemplation of the young Chace Crawford as their new face for menswear.
"A kind of All-American rebel but with still a bit of innocence . . . "
Awesome.
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