As mentioned in our earlier reports, because American designer Thom Browne has not received enough attention in the fashion industry in his hometown, this year he went to France to hold his 2018 spring and summer menswear conference. In fact, Browne is not a case. Proenza Schouler, Rodarte, etc. announced plans to join Paris Fashion Week in January this year.
In the fashion industry, it is an honor to stand on the show floor in Paris. People once made a folk ranking for the world's four major fashion weeks, Paris is the first, while New York is at the bottom, Milan and London are ranked second and third.
There are two main criteria for this ranking, one is the weight of participating in the brand, and the other is the size of the fashion week itself. Undoubtedly, with the participation of first-line luxury brands such as Chanel, Dior, Louis Vuitton and new and old designer brands such as Dries Van Noten and Y/Project, and far greater than the size of New York Fashion Week, Paris Fashion Week is even better.
In the words of fashionista Fashionista, if the US fashion industry is broken, then France is booming. For those fledgling emerging brands, France’s high-precision week represents the pinnacle of success and reputation. The root cause of all this is that the fashion industry in Paris has always developed in an organized and leadership environment, but New York has always lacked a fashion group that truly has the right to speak.
In Paris, in addition to Chanel and Hermes, LVMH and Kaiyun Group control almost all top brands such as Louis Vuitton, Dior, YSL, Gucci, Balenciaga, Givenchy, and the success of Paris Fashion Week is the high level of organizational skills of these two groups. The results of synergy enable everything to be carried out in an orderly manner and enable the brand to overcome individual will and thus consider the overall interests of the Paris fashion industry.
But the New York fashion industry is not following this logic. The New York brands are all battalions. They decide or partially arrange each season's press conference through consultation with the New York Fashion Association. New York Fashion Week has become a flexible one. And loose gatherings. Especially in recent years, the momentum of Los Angeles, Miami and other places has gradually dispersed the resources and influence of New York, further swaying the status of New York as an American fashion center.
So the question is coming, so why not be able to produce multi-brand groups like LVMH or Kaiyun?
There are of course historical reasons for this. LVMH and Kaiyun grew up in the "arms race" between the two sides. LVMH Chairman Bernard Arnault and Kaiyun Group President Francois-Henri Pinault have a strong desire to expand themselves by constantly buying luxury brands. The resource matrix to compete with the opponent.
Brands purchased by LVMH and Kaiyun are long-established and epoch-making brands, but in the US, the luxury fashion industry is relatively new, which means that many brands do not have so many touching stories to tell. According to the world clothing and footwear network, former fashion columnist Christina Binkley once said, “We tend to think that the concept of 'luxury' brand is entirely European.†Or, this is a view of “winners take allâ€. .
Paris has a long-standing support for the luxury goods industry. It is said that from the beginning of Louis XIV there is a guild system to support the development of the luxury goods industry, which laid a good foundation for modern high fashion.
More importantly, it reinforces the label of fashion France. Culture is lagging behind. Even though the United States has developed many luxury brands in recent decades and is more daring in business operations, people are always more inclined to think that Europe is the real industry cradle.
This evaluation is not awkward. According to Fashionista, the United States has a lack of protection in its craftsmanship tradition and there is no incentive mechanism within the industry. After the LVMH and Kaiyun brand acquisition competition, the two groups have turned to cultivate innovative talents, and set up the LVMH Prize to support emerging designers and brands. With big brands as a foundation, young people can get practical support, not just getting an office and some money from the incubator.
In addition, Europe's superior fabrics and craftsmanship have determined that many brands are going to Milan or Paris. According to Binkley, many American designers have to travel long distances to Europe just to get back a sample. This situation is not only material manpower, but also delays a lot of production time. This is the reason why the United States hopes to move the fashion production area back to the United States, but the drawbacks of this move are also obvious, which means that the cost of labor and materials transportation is Will increase accordingly. Therefore, American designers can only move their studios to Europe to balance life and business.
However, the US fashion industry also has its own advantages and characteristics. In the past few decades, the competitive advantage and ambition of the United States has not been in competition with brands such as Dior and Gucci. The American investment portfolio is very different from that in Europe.
American brands are happy to create a cultural trend, from Ralph Lauren, Calvin Klein, who emphasized American elements in the early days to Supreme, Patagonia, etc., whose focus is not on pricing customers. This is a different approach from the traditional luxury business, and today's American brands also have several favorite points of promotion – sustainability, risk and human value.
As a result, many famous luxury brands have been born in the United States, including Coach, Kate Spade, and Tory Burch. Among them, Coach recently acquired the behavior of Kate Spade, making its vision of wanting group operations clear. Previously, Coach also acquired the footwear brand Stuart Weitzman to integrate resources in footwear and lifestyle brands.
Mindy Meissen, manager of FashionREDEF, a fashion briefing, believes that Coach is trying to create a prototype of a fashion group. “This reflects the desire of the United States for this. Coach has been paying attention to brand heritage and crafts for many years and has its own brand archive. It clearly has occupied a clear market segment."
But Coach wants to be truly a group that can compete with France. It also needs patience, and it is more urgent than to acquire the right brand.
For more exciting reports, please pay attention to the world clothing and footwear network.
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