Keeping up with some fashion stories in the news.
Will Saks Fifth Avenue and its newly acquired Neiman Marcus survive? Judging by the news from the companies Bond Holders the luxury retailer is on life support. With debt payments due, vendors howling, this is a make it or break it period for the once
The EU Commissioned fined Celine, Loewe and Gucci for price fixing. The companies were fined a total of almost 160 million euros. The luxury labels can no longer dictate the discount and price strategies for retailers.
Shein takes glamour route by opening a shop in shop location in the most fashionable city in the world, Paris. The ultra fast brand stakes a space with shops in BHV and Galeries Lafayette. The controversial move was met with French Gall. The popular shopping app is a proven draw for young buyers seeking the cheap everything. Other labels have expressed concern at the move. A 1.99 t-shirt next to a 2.000 handbag could be a bit of an extreme contrast under one roof.
Another supply chain scam exposed. This time Tod’s got hit. The luxury footwear brand is the latest to get hit by authorities over shoddy labor practices. Over the past year and half other brands including Gucci, Armani, Dior have been fined over sweatshop conditions in Italy. A different day but the same accusations, long working hours, under paid workers while producing 600 euros shoes.
Dior under Anderson continues to be a topic of conversation. Jonathan has never been described as a “boring”. The Irish born fabled reset has moved the brand into a new realm, edgy over romance. I wish the collection had been more focused instead of too many concepts. On the handbag front, the success is a given.
Meanwhile former Dior head Maria Grazia Chiuri is now the creative head of Fendi.