The fashion season is underway, yet I cannot remember a time recent history when the industry was in such turbulence. At every stylish turn, behind the kisses on the cheek there is concern.
After a year of musical chairs, many fashion houses have new creative heads debuting this season on the runway. As commercial challenges continue, buyers cutting back, hopes are pinned on new blood invigorating the system. From Gucci’s fight to stay relevant to JW Anderson’s new collection at Dior Women, a lot is on the line this season. Reinvent is more than a strategy. It is a lifeline.
Fashion Publications were once the Bibles of the style. Today, many titles struggle, readers get the latest style trend news from social media. Vogue will cease monthly issues, instead going to a six or eight per year theme based magazine. Rumours of other major titles going only digital circulate. The days of press trying to get those coveted front row seats at a catwalk show may soon be in the past. AI could soon replace fashion journalism in the near future as publishing houses cut more staff
US department stores, those symbols of 20th century consumption, are about as stable as a three-legged camel. As Saks partied during New York Fashion Week, suppliers complained about lack of payment. S&P downgraded the luxury store’s debt due to financial strain. Middle tier chain Kohl’s with 1,165 stores is now delaying vendor settlements citing lower traffic in its outlets.
What do shoppers want? Quiet luxury is here and now, but for how long? Chinese buyers are holding back dragging the luxury segment down. Small streetwear brands have carved out niches. Instead of going big, they went with a scarcity plan triggering desire purchase. The super-fast fashion shopping apps are on a new marketing campaign, no longer peddling cheap prices, but a modish lifestyle. Meanwhile in Europe retail sales dropped by .5% as consumes are squeezed by inflation.
It is only September.