The Business of Fashion Podcast

After years of disillusionment with fashion tech, investors are once again excited about its potential, but with a very different mindset to the hype-fuelled boom of the last decade. From AI-powered personal styling apps to virtual try-on tools and personalised search engines, a wave of start-ups is gaining traction – and big backing – by offering real technological solutions to long-standing fashion industry problems. In this episode, senior e-commerce correspondent Malique Morris joins The Debrief to explore how fashion tech is finally growing up, and which companies are leading this more grounded, results-driven wave of innovation. Key Insights:  In the previous fashion tech boom, investors were heavily investing in e-commerce startups with little true innovation. “DTC brands … positioned themselves as tech companies because they sold goods online, but there was nothing really revolutionary about them listing products on a website. And I don't know how investors didn't cop to that,” says Morris.  Today’s backers are more discerning, favouring startups with clear technical roadmaps and founders who can evolve their product in meaningful ways.Investor interest in fashion tech reignited thanks to the rise of generative AI. As Morris explains, venture capital had been sitting on the sidelines during a broader funding freeze, but AI’s real-world applications reignited excitement. “Startups like Daydream are building a platform for personalised search using AI tools from companies like OpenAI and Google, and they want to be the ChatGPT for fashion and be disruptive in the way that ChatGPT has changed how we use the internet,” says Morris. “What was once a dream is now closer to being tangible and investors want to be the first ones in on that.” Today’s investors are looking beyond flashy pitches and prioritising founders with real technical know-how. “Something that is really separating the people who are just trying to raise money and not breaking through from those who are, are having some sort of technical experience, technical expertise,” says Morris. With the complexity of AI and other advanced tools, investors want to back teams that can build efficiently and with minimal lift. “They want to back founders who know what they're doing,” he adds. While new fashion tech apps offer highly personalised experiences, their complexity may limit mainstream appeal. The question of scale is still unanswered: “There may be a billion people out there who want to do that… There may only be a million. We don't know that just yet.” Additional Resources:How Investors Fell Back in Love With Fashion Tech | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 2 July 2025

As a fashion buyer and creative force at retail institutions like Browns and Liberty, Yasmin Sewell has long been tuned into aesthetics and the power of intuition. But it was during a moment of  personal reset, that her intuition propelled her from fashion into an entirely new world: the business of beauty.  Founded in 2021, her fragrance brand Vyrao blends traditional perfumery with spiritual practices like Reiki, kinesiology, and neuroscience.  “When I was in fashion, what made me successful was tapping into my intuition and tapping into energy, which is everything I’ve created now. I was born quite psychic; I’ve always been able to connect with many things, and I used that ability to discover the designers at Browns,” Sewell shared. “That feeling is what I’ve lived by my whole life. It’s what’s led me to where I am now. And actually, what I believe I’ve done is bottled that into fragrance.” At The Business of Beauty Global Forum 2025, Sewell sat down with BoF founder and CEO Imran Amed to discuss why she built a business rooted in energy, how she learned to manufacture fragrance from scratch, and why intuition is an underrated superpower in business. Key Insights:  Yasmin Sewell transitioned from fashion to beauty not as a rejection of her previous career but rather as an extension of her intuitive abilities, driven by a significant personal shift following her divorce. "When I was in fashion, what made me successful was tapping into my intuition and tapping into energy, which is everything that I've created now,” she explained. Vyrao was born from a deeply personal vision Sewell experienced during a transitional period in her life. "I heard this voice saying, 'everything needs to be green'. ... That's all I could hear. It was like a speaker I couldn't turn off," she recounted. "I sat there and Vyrao came to me as an absolute vision from somewhere else."  The fragrance brand now sits in a distinct position in the market, combining fragrance formulation with emotional and spiritual wellbeing, backed by neuroscience. "Every single plant and flower and every single fragrance is chosen for how it makes you feel… Now we work with neuroscience. It's proven to trigger certain emotions in the brain," she explained. Sewell emphasises the power of intuition as her primary guide, despite the challenges of navigating a business world dominated by analytical thinking. "I tend to lead with the gut... I'm sort of 98% intuition, 2% common sense," she said, describing how this has shaped Vyrao’s strategic direction and her interactions with investors. "I lead with intuition, and I use the brain as a tool. I don’t think the brain can take us that far – for me, it doesn’t.” Additional Resources:The Business of Beauty Global Forum: Connection in the Age of Disruption | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 27 June 2025

As major luxury brands struggle to maintain momentum amid an industry-wide slowdown, one category is bucking the trend: jewellery. While demand for handbags and apparel softens, fine jewellery sales continue to rise, driven by consumer desire for lasting value, emotional resonance and self-expression. Simone Stern Carbone and Joan Kennedy join The Debrief to discuss how independent jewellers are thriving with creativity and personality, the rising popularity of novelty pieces, and why jewellery is uniquely positioned to attract buyers in today's luxury market. Key Insights:  Despite slowing luxury sales, jewellery sales have continued to boom. As Stern Carbone notes, consumers perceive luxury jewellery as an inherently safer investment. She says, “Instinctively, a lot of people associate jewellery – especially if it's got gold, gemstones or diamonds – with something you would dish out more money for more readily than for a handbag potentially made out of nylon.” While big jewellery brands are growing, smaller competitors are booming as they foster deep customer relationships and maintain flexible, manageable supply chains. Stern-Carbone highlights, “Jewellery is so personal. When you have a very distinct aesthetic, you really connect with your customers long term, potentially for life. This is a really personal relationship that smaller brands can capitalise on.” Kennedy emphasises that modern jewellery marketing resonates by being accessible and relatable. “One designer I spoke to puts her charm necklaces next to candy necklaces, so that feels fun,” she says. “A lot of these designers are doing things that are very lo-fi. It’s like a picture of a wrist on Instagram. And then they reply to DMs, like, ‘Hey, show me that bracelet with something else.’ So the way that they present it is also really relevant to shoppers, versus the very high-gloss and traditional style of high jewellery.” Novelty jewellery began gaining popularity post-Covid. “People were buying camp jewellery, but they were paying $50 for a funky, colourful ring. And then more recently, people are like, okay, let’s bring in the value piece of this,” says Kennedy. Novelty jewellery has surged as consumers seek personal expression in response to uniform dressing and quiet luxury trends. Kennedy continues, “You're leaning into things that are uniform dressing, so how do we spice that up? Let's go for more novelty in jewellery.” Additional Resources:Why Jewellery Feels Like a Better Deal Than a Handbag | BoF Who Would Pay $20,000 For a Hamburger Ring? | BoFHow Small Jewellery Brands Are Seizing The Moment | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 24 June 2025

When Tracee Ellis Ross launched Pattern Beauty in 2019, she set out to challenge the beauty industry's lack of products for curly, coily and tight-textured hair. Despite numerous obstacles, including scepticism about market viability and systemic biases in the product testing process, Ross has built Pattern into a leading haircare brand addressing an underserved market. “Black beauty and textured hair was not being mirrored back as a celebration but instead it was a problem,” Ross shared. “[Pattern] is to allow people to have the access to their most beautiful hair and self in their own bathroom as opposed to having to always trust a professional.” During her conversation with BoF founder Imran Amed at The Business of Beauty Global Forum 2025 in Napa Valley, California, Ross shared her journey from Hollywood actress to entrepreneur, detailed the systemic changes she's driving in the haircare industry and emphasised the importance of humanity in business building.  Key Insights:   Ross described her early struggle with understanding and accepting her natural hair as a deeply personal and emotional journey. "Making sense of how my hair grew out of my head was difficult," she said. "I had to master and understand and gain a sense of love and celebration in my hair." This experience became the foundation for her brand Pattern, which aims to shift the narrative around textured hair from one of difficulty to one of pride and empowerment. Ross articulated how the standard beauty narrative has often required Black women to erase parts of themselves to be seen. “There’s a part of beauty and beauty culture that has been about erasing who we are in order to fit in,” she said. Through Pattern, she seeks to change that narrative by celebrating individuality and authenticity: “I want people to have their hair. They just need the right products to support their hair. That’s what doesn’t exist.” Pattern was not an overnight success born of celebrity privilege — it took a decade of perseverance, rejection and self-education, Ross said. “There’s this myth that I was this famous actress who had lots of money to start a company — garbage,” she said. “I’m a Black actress in Hollywood. Let’s be clear about my finances.” While products are at the heart of Pattern, Ross stressed that her brand is rooted in community, identity and purpose. “Pattern is about allowing people access to their most beautiful hair, their most beautiful self, in their own bathroom,” she said. “You have an opportunity to take all that wasted space not serving this customer and turn it into money, purpose, and value.” Additional Resources: The Business of Beauty Global Forum: Tracee Ellis Ross on Community and the Power of Celebrating Differences  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 20 June 2025

Earlier this month, cities across the US saw the most significant wave of demonstrations since the 2020 protests following George Floyd's murder. These latest protests have been sparked by immigration raids conducted by the Trump administration, and while some of those enforcement actions have targeted garment workers, the fashion industry has mostly stayed silent. Executive editor Brian Baskin, senior correspondent Sheena Butler-Young, and retail editor Cat Chen explore the reasons behind the industry's cautious stance, whether fashion can find a new way to engage with politics, and practical steps brands can take to support vulnerable workers. Key Insights:  During the Black Lives Matter movement, fashion brands were quick to voice support. Today, in the face of immigration raids affecting garment workers, many brands are noticeably quiet as companies now worry that taking a stance on divisive political issues could trigger backlash. “There's a lot of anxiety and discomfort and frustration behind the scenes, but there is also this other piece of the pie, which is fear of retaliation from the Trump administration,” says Chen. Despite the fear of retribution, Butler-Young also notes how the lack of response is being interpreted outside of the industry: “I think that people see the industry as acting cowardly as an industry that does rely on immigrant labor, legal and otherwise.”  Fashion isn’t providing much concrete support behind the scenes, either. “I think another huge issue is that people are feeling really helpless in the sector. There aren't any resources,” says Chen. “We're not seeing trade organisations emerge and come up with guidelines for what employers can do in case of a raid.” She adds, “You have these executives who are operating very blindly.” Brands that lean too heavily on public declarations of diversity and inclusion without backing them up are losing credibility with values-driven shoppers. As Butler-Young explains, “The liberal consumer is just a little bit over hearing companies say something and then not do it.” Instead of splashing their values across LinkedIn or homepage banners, she notes that “some of the brands that are doing a good job by doing the work internally first and then talking about it.”  The focus should also shift from performative allyship to practical, on-the-ground support—ensuring that businesses are equipped to respond meaningfully when their workers are directly impacted by policies like immigration raids. As Chen points out, “The most vulnerable people right now don't need big brands to post something on social media or grand political gestures. What they need is a solution to the problem. What they need is for their employers to be prepared.”  Additional Resources:Garment Workers Are at Risk. Fashion Can’t Afford to Look Away.Five Years After George Floyd: Can Fashion Still Stand for Something?  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 17 June 2025

When Hailey Bieber launched her beauty and skincare brand Rhode in 2022, it quickly built a loyal customer base and achieved rapid commercial success. By early 2025, Rhode had generated $212 million in net sales and, in May, was acquired by E.l.f. Beauty in a landmark $1 billion deal. “Rhode is not just about the product; it's the whole entire world of Rhode. I want people to feel something when they get the products. When they use it, I want them to feel that they are a part of something,” Bieber shared at The Business of Beauty Global Forum 2025. “I really do see us being a legacy brand. Rhode is going to go down as one of the greats.” In her first public appearance since the acquisition, Bieber joins The Business of Beauty’s executive editor Priya Rao on stage at Stanly Ranch in Napa Valley, California, during The Business of Beauty Global Forum to reflect on her launching her brand, her approach to world building and her vision for the future of Rhode.  Key Insights:  Rhode is intentionally positioned as more than a skincare brand. “It’s not just about the product, it’s the whole entire world of Rhode,” Bieber said. She envisions the company evolving into a lifestyle brand with editorial flair and cultural relevance beyond just beauty. "I want people to feel something when they get the products, I want them to feel that they are a part of something." Growing Rhode, Bieber rejected traditional beauty incubators and industry insiders in favour of building a close-knit team with a fresh perspective. “I knew I wanted to put my own money into it. I knew I always wanted to be the majority owner,” she said. The result was a brand that felt “super curated and tight” — an intentional strategy to maintain clarity and control. The $1 billion sale to E.l.f. Beauty was not a quick decision. Bieber was deliberate about finding a partner that respected Rhode’s DNA. “Rhode is like my baby; I'm so precious about it. The idea of ever even considering [a sale] was a very big deal to me.” Bieber underscores the importance of personal connection and integrity in building a brand that resonates. “I am Rhode and Rhode is me,” she said, explaining that the brand’s tone, aesthetic and communication all reflect her own sensibilities. “That’s why I always say, Rhode is my world. It doesn't feel like a job to me.”  Rhode is a long game. “I really do see us being a legacy brand,” Bieber said. “Rhode’s going to go down as one of the greats.” Her goal is to build something that endures, rooted in authenticity and longevity rather than trend-chasing. “It’s not just about the product, it’s the whole entire world of Rhode." Additional Resources:The Business of Beauty Global Forum: Hailey Bieber Is Just Getting Started | BoFE.l.f. Beauty Acquires Hailey Bieber’s Rhode Skin for $1 Billion | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 13 June 2025

Nike has been synonymous with sports for decades, but that cultural and commercial cachet has mostly been driven by male athletes like Michael Jordan and Tiger Woods (Serena Williams being a prominent exception). As a result, despite substantial sales, Nike historically struggled to resonate authentically with women, and has at times faced pointed criticism from female athletes, employees and consumers.  That appears to be changing. Nike’s “So Win” campaign, which launched with the brand’s first Super Bowl ad in decades, centres entirely on female athletes. A’ja Wilson’s sneaker release was a smash, and a new brand with Kim Kardashian’s Skims will be out soon. The head of Nike Women’s now leads the entire Nike brand.  Key Insights:  Nike’s current momentum comes after past attempts to boost its women’s business, including a failed 2005 campaign involving catalogs and dedicated stores. Defections by prominent female athletes to rivals, and media investigations into gender equity issues prompted Nike to rethink its approach starting about five years ago. Sheena explains, "They started a think tank with women athletes and women consumers, and what they heard was that women wanted more from the company. This marked the beginning of initiatives driven by women's opinions and taking more women into leadership roles to guide efforts that would genuinely resonate with women."   Featuring her first signature shoe, the Nike A'One, WNBA star A’ja Wilson’s campaign was the latest and biggest in a string of successful marketing and product initiatives targeting women, including maternity lines, leak-proof activewear, and technical collaborations like supporting Kenyan runner Faith Kipyegon’s quest to break the four-minute mile. Sheena emphasises, "Nike’s investing end-to-end. They're not just investing in her wearing the logo at a race someday—they're actually supporting her personal goals." The recent appointment of Amy Montagne as Nike’s first female brand president symbolises substantial internal change. Sheena highlights, "Having a woman lead as Nike brand president is another way to activate that lever and get after women's." But consistency remains crucial for lasting success. Sheena stresses, “They've taken their swing before, but it's like the follow-through that counts. Consistency will be the most important thing. If they don’t keep doing all the right things, it could easily shift back.” Additional Resources:Why Women’s Basketball Stars Are Finally Getting Big Sneaker Deals | BoF Nike Forms New Team for Secretive Brand With Kim Kardashian | BoF Is Nike Finally Winning With Women? | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 10 June 2025

Emily grew up far away from the fashion world in Calgary, Canada. After moving to New York for a role at the media company Complex, Oberg quickly built her profile as a tastemaker in the streetwear scene.  But eventually, she got the entrepreneurial itch and leveraged her experience to turn Sporty & Rich, which started as a mood board on Instagram, into a multi-million-dollar brand with a dedicated community following. "I think people want to be part of anything that's aspirational. Our sweatshirts are $150, it's not like we're selling a $10,000 handbag, but I think that shirt represents the lifestyle in the world that we have built." In conversation with BoF founder Imran Amed, Oberg reflects on her unconventional path, her strategic business choices, and the significance of creating an aspirational lifestyle through her brand. Key Insights:  Sporty & Rich started as an Instagram mood board where Oberg began experimenting with different products like magazines, hats, and crewnecks to gauge interest for a brand. To scale without raising capital, Oberg turned to pre-orders. "If we didn't do pre-order, we couldn't have run a business," she says. “We did a crewneck and it made $600,000 in a day,” she says of a drop during the pandemic. “That was a big moment for us because we were like, 'Wow, we can really scale this with just one product.'” Oberg thrives in uncertainty and credits her ability to adapt as one key to her success. “I think I like risk because where it scares most people, it kind of excites me and it gives me that feeling of being uncomfortable – I really like that feeling,” she explains. Reflecting on her experience moving to LA and launching Sporty & Rich, she adds: “I was excited and I had a trust in myself that I would always figure it out. So I think when you have that, you know that you'll be okay and there's like nothing to really worry about.” Oberg is candid about her business blind spots.She surrounds herself with experts in operations, production, and finance to keep the business growing. “I don’t know how to do everything,” she says. “I just know what I like and what I want things to look like.”  Sporty & Rich isn’t just about clothing. Their New York flagship includes a café, spa, — and soon, a gym — offering a full expression of the brand’s values. “It's not necessarily about the monetary things and money and the rich lifestyle. That's a part of it but I think there’s this greater sense of living a full life and I think anything that's aspirational people want to be part of,” she says. “Our sweatshirts are $150; it’s not like we’re selling a $10,000 handbag, but I think that shirt represents the lifestyle and the world that we’ve built.” Additional Resources:For Some Labels, Drops Are Still Working When Nothing Else Is | BoF How and When Brands Should Say 'I’m Sorry’ | BoF Can You Sell Sexual Wellness Without Sex? | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 6 June 2025

Bieber, a celebrity and influential beauty figure with a strong Gen-Z following, launched Rhode just three years ago, quickly distinguishing the brand with minimalist product offerings closely tied to Bieber's personal aesthetic. She just sold to E.l.f. Beauty for $1 billion, even as rival celebrity beauty brands struggle to grow sales or attract buyers.  Priya Rao, executive editor at The Business of Beauty at BoF, joins the Business of Fashion's Brian Baskin and Sheena Butler-Young to discuss how Rhode distinguished itself in a crowded celebrity beauty landscape, why E.l.f. Beauty saw strategic value in the acquisition, and what this landmark deal signals about the evolving beauty industry. Key Insights:  Rhode’s clean, minimal brand aesthetic also mirrors e.l.f.’s broader mission, albeit at a different price point. "There’s something about Rhode’s branding that really makes sense with what E.l.f. already does. They both want to be accessible but aspirational," Rao notes. Like Rhode, "E.l.f. has always had a really good sense of what young people want," says Rao. The success of Rhode demonstrates that differentiated, clearly communicated value propositions continue to resonate strongly in the beauty market. "From the consumer side, this just shows that the right brand can find the right price at any time, as long as you're able to point and show you offer something different," explains Rao. Rao highlights how rare it is for a celebrity beauty brand to resonate beyond hype. "Most celebrity beauty brands are not succeeding at this level," she says. Rhode’s limited and focused product assortment have also contributed to its success. "She's not launching everything under the sun," says Rao. "She’s focusing on what she knows and what her audience connects with, and that’s why it’s working." The acquisition isn't just about short-term gain – E.l.f. sees lasting value. "This isn't a flash in the pan for them," says Rao. "They’re betting on Rhode being a long-term growth engine, not just a trendy pick-up." Additional Resources:E.l.f. Beauty Acquires Hailey Bieber’s Rhode Skin for $1 Billion | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 3 June 2025

Giancarlo Giammetti met Valentino Garavani by chance on July 31, 1960, setting in motion one of fashion’s most enduring — and most successful — creative partnerships. Together, they transformed Valentino into a global fashion powerhouse, celebrated for its elegance, craftsmanship, and cultural influence.  In 2016, Giammetti co-founded the Fondazione Valentino Garavani e Giancarlo Giammetti to preserve their remarkable legacy, promote creativity, and foster charitable and educational initiatives. This week in Rome, BoF founder and CEO Imran Amed had the honour of sitting down with  Mr Giammetti at PM23, the newly opened home of the foundation, located right next to the Valentino headquarters where their journey together first began.  In this exclusive interview, Mr Giammetti reflects on the founding days of Valentino, the importance of protecting creativity  in a fashion market that prioritises commercialisation, and why it is critical for the industry to support future generations of designers who are overlooked by a fashion system under pressure. “This continuous change of people, using people to cover jobs … it makes a big confusion. None of them really becomes a part of the legacy of the company. That’s what is a big problem today,” says Giammetti.  Key Insights:  Giammetti highlights the strength of his decades-long partnership with Valentino, emphasising their deep personal and professional connection. “We grew up related so much to each other that we cannot be separate,” he says. “Even when we had some rupture in our private life, after a while, we kept our  family. That’s why we have such a big family – because all of our friends became friends of our family with us.” Giammetti expresses concern about the fashion industry's current state, noting the disconnect between creative integrity and business pressures. "Designers have become their own stars, they have their own style, and they don’t want to really become a witness to the work of the companies where they are hired to prolong life – they want to work for themselves," he says. "It’s not just negative, it’s offensive." Giammetti believes in preserving the heritage of fashion through new means. “I hate fashion museums. I think that to see all the mannequins like Madame Tussauds look really like wax things. I don’t think there is a life inside,” he says. “With digital work, you have to work with that to project your legacy in a different way.” Giving advice to aspiring creatives, Giammetti encourages young designers to remain true to themselves and avoid distractions. "Be yourself. Don't get distracted. You have to believe in yourself and do what you want." Additional Resources:‘Beauty Creates Beauty’: Valentino Founders Tease New Cultural Space in Rome | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 30 May 2025

The beauty sector historically thrived during economic downturns, earning a recession-proof reputation encapsulated in the “lipstick index.” However, recent earnings from major beauty conglomerates like Estée Lauder, L'Oréal, Coty and Shiseido indicate that beauty’s resilience is being tested. Sales are declining, layoffs are coming and consumer habits appear to be shifting dramatically.  BoF Senior Beauty Correspondent Daniela Morosini joins Brian Baskin and Sheena Butler-Young on The Debrief to examine what's driving this slowdown and how the industry is adapting. Key Insights:  Traditionally, small luxury purchases like beauty products thrived during economic pressure. But the landscape has changed. “Prices have really, really grown, and there's just so much more to choose from,” says Morosini. The combination of escalating prices, excessive market saturation, and a shift to online platforms like Amazon and TikTok has diluted the impact of small luxury indulgences. "It's really hard to get seen. So even if you have a more affordable product that more people can afford, you still have to get people to come and look at you and come and interact with you," she adds. Brands once benefited from consistent replenishment and customer loyalty. Today, consumers are more transient, constantly seeking newness. “Customers seem to have this insatiable appetite for more products and more newness,” Morosini notes.  But after years of heavy consumption, shoppers are starting to tire of new for the sake of new. “Something that’s really starting to come into focus is that, specifically, American middle-class shoppers are starting to buy fewer beauty products – and that’s having a big knock-on effect.” As consumers become more price-sensitive, brands need to redefine value beyond just pricing. Morosini suggests brands return to basics, emphasising their core strengths and fostering loyalty through consistent, quality products rather than frequent launches. "People are really, really attuned to perceptions of value," says Morosini. Additional Resources:The Beauty Slowdown, Explained | BoFThe End of the Lipstick Index | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 27 May 2025

Instead of his usual place in the host’s seat, BoF founder and CEO Imran Amed appears this week as a guest in an interview with Jonathan Wingfield, editor-in-chief of System Magazine, alongside Luca Solca, senior research analyst at Bernstein – as featured in the debut issue of System Collections. This conversation was recorded on March 14, about two weeks before Donald Trump’s shock announcement of so-called reciprocal tariffs on countries around the world, most notably China.Together, Amed and Solca explore major shifts in the global luxury market, the growing fatigue with high prices and mass production, and why creativity, innovation and strategic alignment between business and creative leadership are more crucial than ever. “These companies are run by human beings, and if you don't give people incentives to change, they will kill you. If you see that you're making as much money as you like, and the business is as good as it ever was, then you probably will not change very much,” says Solca. “Adjusting to a more normal environment is causing a lot of soul-searching and getting these companies back in line.” Amed adds: “Where brands work best is where there is that impeccable alignment between the creative leadership and the business leadership. Many creative directors feel like a lot of decision-making and creativity is being dictated to them rather than being in conversation with them." Key Insights: Excessive price hikes and product ubiquity are causing consumer pushback. Amed says, "When customers look at a €10,000 bag that used to cost half of that, there's real pressure because the value proposition no longer adds up." Solca stresses, "If people need to pay these prices, they must be excited; they need to feel they haven’t seen these products yet, and that they desire them." Amed adds, "Brands need to inject new creative energy to get customers excited again." In a stagnant market, luxury brands can no longer rely on organic demand and must compete aggressively for market share. "In order to grow now, brands need to actively win market share from competitors," says Amed. This shift has forced operational changes. "Fashion shows are getting smaller, not just for intimacy, but also to cut costs." Solca agrees: "A lot of the costs in this industry are fixed ... When sales decline by as much as 20 percent, you really need to cut the fixed portion of your costs." Maintaining exclusivity remains essential. Solca notes, "The nature of the industry is that you need to sell exclusivity or perceived exclusivity." He warns high visibility can backfire: "Smaller brands hit gold, but at one point, they succumb to that very success because they become too visible and people move elsewhere. They tend to face a glass ceiling around €2 to 3 billion." Effective luxury strategies hinge on strong creative-business collaboration. As Amed explains, "Where brands work best is where there is that impeccable alignment between the creative leadership and the business leadership." Additional Resources:System Launches New Bi-Annual ‘System Collections’ | BoF Inside Luxury’s Slowdown | BoF The State of Fashion: Luxury | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 23 May 2025

As inflation bites and politics polarise, the fashion industry in 2025 is facing unprecedented pressure to hold onto its customers. Brands are looking to community as a deeper and more emotional form of engagement. But building true community takes more than buzzwords.  In this episode, BoF correspondent Lei Takanashi joins hosts Sheena Butler-Young and Brian Baskin to unpack his case study on what it really means to cultivate community in fashion and how brands are navigating the pitfalls. Key Insights:  In a time when consumers are thinking hard about every purchase, community offers a sense of connection and meaning that goes beyond the product itself. "When I'm shopping today, I'm thinking more about what eggs I'm going to buy this week than the latest release from a brand," says Takanashi. "What really now drives me to make a purchase is like, what does this brand represent? What are its values? How has it improved my life beyond just something I wear?" Different communities serve different purposes, each demanding a unique approach. Takanashi outlines three community types: activity-based, personality-driven and values-driven. Activity-based communities are rooted in shared interests or habits, such as running, where engagement happens naturally through events or clubs. Personality-driven communities hinge on a founder’s charisma and relatability: "People have to see that founder story and kind of see themselves in their shoes." Values-driven communities connect through shared beliefs and causes, but those values must be dynamic. “Your definition of a value can’t be rigid,” says Takanashi. “You have to adapt to how consumers perceive these things.” As brands grow, scaling community takes local focus to remain authentic. "As long as you stay committed to a localized approach and understand that it’s not one size fits all," Takanashi says, pointing to Arc'teryx and Supreme as examples of brands that scale through local relevance and hiring. In addition to staying local, real-world interaction matters and brands shouldn’t rely solely on digital engagement. “You should really be there in person at pop-ups, shake hands with people, talk to the customer... Every brand I spoke about in this case study made some effort to show up in real life." Additional Resources:Case Study | How Brands Build Genuine Communities | BoFWhat Makes a True Community Brand? | BoFHow Brands Make Community More Than a Buzzword | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 20 May 2025

Africa is experiencing an exciting shift, creatively and commercially, with growing global attention on its rapidly expanding middle-class population. Yet, local fashion entrepreneurs must navigate unique operational challenges and misconceptions about the quality and reputation of "Made in Africa." Pink Mango’s Maryse Mbonyumutwa entered apparel manufacturing in Rwanda to address both economic and social sustainability. "[Africa] is sustainable by nature, as we've not fully industrialised yet," he says.  Laduma Ngxokolo, founder of South African luxury knitwear brand MaXhosa Africa, drew inspiration from his culture's traditional designs: "How do we take local traditional aesthetics and modernise them?" he asked.  To celebrate African creativity, Reni Folawiyo founded the concept store Alara in Nigeria. "I started Alara from a very emotional place to elevate African creators, both on the continent and the diaspora," Folawiyo says. "The idea of elevating but also empowering remains in everything we do." On this episode of The BoF Podcast, an illuminating conversation unfolds on stage at BoF CROSSROADS 2025, where Mbonyumutwa, Ngxokolo, and Folawiyo, alongside Sudanese-British writer Rozan Ahmed, discussed Africa's unique contributions to fashion, the opportunities in sustainable manufacturing, and how they are redefining what it means to produce, create and sell in Africa. Key Insights:  Africa's potential lies in sustainable manufacturing and social responsibility. Mbonyumutwa explains, "Africa is here to offer social sustainability ... to make sure that now when we talk about environmental sustainability and social sustainability they are aligned." Local retail can powerfully celebrate and elevate global African creativity. Folawiyo's vision for Alara was clear. "I started Alara in a very emotional place. I wanted to celebrate African creators, both on the continent and in the diaspora. I wanted to elevate their work, because I hadn't seen it done anywhere else," she says. “It was a self-empowerment, self-determination moment and I wanted it to be celebratory.”  "Made in Africa" must represent prestige, not affordability. Ngxokolo says, "It's not cheap, yet there's a perception that anything that is made in Africa should be reasonably priced or cheap. We put in our heart and souls into our work and present it to the world so that it sits next to their level of brands.” Additional Resources:BoF CROSSROADS 2025: How to Tap into Fashion’s Future Growth MarketsDesigned, Made and Sold in Africa | BoF CROSSROADS 2025 | Youtube Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 16 May 2025

On May 12, the US and China reached a deal to temporarily reduce tariffs for 90 days, offering a breather from an escalating trade war. Stocks surged on the news, but experts warn this relief might not fully resolve deeper industry uncertainties or consumer anxieties.  BoF retail editor Cathleen Chen and technology correspondent Marc Bain join hosts Brian Baskin and Sheena Butler-Young to unpack the ramifications of the tariff pause and what the fashion industry can expect moving forward. Key Insights:  Tariffs have reduced, but costs still remain high. The Trump administration’s initial 145 percent tariff effectively banned imports from China, a situation now alleviated but not fully resolved. "Lowering that to 30% is a different situation," Bain explains. "It's saying, go ahead, import your stuff, but it's gonna still be expensive." The tariff pause offers temporary clarity, but major production hubs like Vietnam and Cambodia face continuing uncertainty. "Depending on what happens with those negotiations, the whole landscape could shift," Bain notes, as retailers remain cautious about long-term production decisions. Tariffs are not the industry's only concern as consumer sentiment will significantly shape demand. "Beyond what's going to happen with tariffs with dozens of countries, there's also the issue of consumer confidence and sentiment and whether there will be demand to drive sales for the products that do end up in the U.S.," Chen highlights, questioning the robustness of future sales. Despite an easing in the tariff rate for small shipments from platforms like Shein and Temu, the overall uncertainty around the future of the “de minimis” loophole might dampen consumer enthusiasm. "All the news about Shein and Temu has been enough to just keep that customer away," Chen suggests. "I feel like there might be this attitude of, we had a good run of really cheap stuff for a couple of years and maybe you've had enough of it now." Brands should focus on diversifying their supply chains and strengthening industry partnerships. Bain advises brands to "have some redundancy built in. So if one location becomes untenable, you can shift to another spot." Meanwhile, Chen emphasises the importance of collaboration: "Now is a really great time to forge stronger ties to your suppliers, your vendors, even your retail partners," ensuring shared responsibility and minimised impact on consumers. Additional Resources:With the Trade War on Pause, Here’s What’s Next for Fashion | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 15 May 2025

A strange new genre of TikTok videos is challenging long-held assumptions about how luxury products are made. Often shot in anonymous Chinese factories, these videos claim that the so-called "superfakes" flooding the market are indistinguishable from, and sometimes made in the same factories as, high-end bags from the likes of Chanel or Louis Vuitton.  While all evidence points to these claims being false, the repetition of these videos has amplified a growing narrative: that luxury pricing is inflated, quality is slipping and production secrets are being exposed. Fuelled further by the U.S.-China tariff dispute and the allure of buying a $10,000 bag for $300, this narrative is resonating with a social media audience increasingly disillusioned with luxury’s mystique.  In this episode, BoF's chief sustainability correspondent Sarah Kent joins hosts Sheena Butler-Young and Brian Baskin to break down what’s really happening behind the scenes – and why silence might not be a viable strategy for brands much longer. Key Insights:  TikTok's "superfake" narrative may be fiction, but it's feeding real consumer doubt. While only a few viral TikTok videos explicitly claim to produce fakes in the same factories as luxury goods, that idea has travelled widely and taken root. "It is supremely unlikely that any factory that had a real relationship with any luxury brand would go on TikTok to market superfakes," Kent notes. Yet the repetition of these claims underscores luxury's ongoing transparency issue. In the absence of accessible facts, falsehoods thrive. Today’s best craftsmanship isn’t always in Europe as high-quality manufacturing has shifted globally. “For instance, if you were making performance footwear or sneakers in particular, China, Cambodia, and Vietnam are probably the best factories you can find in the world to do that,” Kent explains. “If you want to make a luxury product of that quality, you probably don’t want to make that in France or Italy."   The fake bag narrative is irresistible but damaging to luxury. Even those who know the claims are likely untrue find them hard to shake. "It's a delicious narrative," Kent says. One that plays into an existing story of overpricing, declining quality, and aloofness in luxury. Brands have long relied on mythology and mystique. But as Kent notes, that strategy is less effective in a social media age, where misinformation travels fast and reputations can erode overnight.  Consumers are questioning whether luxury is worth the price and Kent says consumer doubt "isn’t going away". Luxury brands need to explain more clearly why their products carry such high price tags to slow this erosion of trust that has accelerated since the pandemic, as prices rose and quality concerns mounted. "If brands aren't giving compelling information that explains where their stuff is made and why it’s valued in this manner then those questions aren't going to fade," Kent warns. Additional Resources:Luxury Has a Fake News Problem. Is Silence the Right Strategy? | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 13 May 2025

It's a pivotal moment for modest fashion. Spending by Muslim consumers on fashion is projected to hit $428 billion by 2027, marking significant annual growth. Yet despite booming demand, modest fashion remains commercially fragmented and struggles for global recognition. Emirati fashion designer Rabia Zargarpur founded her namesake brand after confronting the severe lack of modest clothing options in post-9/11 America. "In 2000, you couldn't even find modest basics," Zargarpur says. "That was a huge aha moment for me. We are so neglected. Why isn't there a single label catering to the needs of our women? And so I took charge and created my brand." Kerim Türe, founder of the Istanbul-based modest fashion e-tailer Modanisa, initially tried to convince existing brands to move online. When they declined, he took matters into his own hands, building a global e-commerce powerhouse from scratch. "The clothes we put on ourselves, a piece of fabric, it's part of our identity, part of our self-confidence," Türe says. "We believe all women deserve to look their best without compromising their beliefs." For Linda Anggrea, CEO of the Modinity Group, the absence of modest fashion brands in major Indonesian shopping malls was glaring. She seized the opportunity, growing her brand from a single scarf line to a multi-brand group with over 100 retail locations. "We want to feel good about ourselves, we want to feel comfortable," Anggrea says. "If we put that concept into whatever we are doing, it will easily translate into a good collection but still fit modest values." This week on The BoF Podcast, in a compelling conversation with Forbes Middle East presenter Sally Mousa, at BoF CROSSROADS 2025, Rabia Zargarpur, Kerim Ture, and Linda Anggrea explore the growing influence of modest fashion, discuss its evolving presence in mainstream markets, and outline the steps necessary for sustainable growth, authentic collaborations, and global recognition. Key Insights:  Authenticity is vital as modest fashion gains mainstream popularity. “There needs to be authenticity and they need to understand our values and work with us. If they work with, they would have better solutions,” says Zargarpur. Highlighting the transparency of superficial engagement by mainstream brands she adds, “We're not just about caftans. ... We're about sustainability, ethical practices, creativity and innovation. Why can't you make that kind of stuff for me the way you do for your other consumers?” The industry stands at a pivotal crossroads between short-term individual success and long-term collective growth. Anggrea underscores the importance of unity, even within her own brands: "We're at a crossroads whether we want to go fast alone or go far together. Each brand has its own voice, but we have one shared mission. That modest fashion is not only accepted, but actually expected." Supporting emerging designers is essential for the future of modest fashion. "We need more brands coming from inside," says Türe. "Designers and business people need to come together." He adds, "We are the colonised South. We need to bring our own branch to the world right now." Additional Resources:BoF CROSSROADS 2025: How to Tap into Fashion’s Future Growth Markets Modest Fashion’s Big Asia Opportunity Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 9 May 2025

The Costume Institute's 2025 exhibition, "Superfine: Tailoring Black Style," celebrated its opening at the annual Met Gala, marking the first menswear-focused exhibit in two decades and the first ever centred exclusively on Black fashion. Inspired by Monica L. Miller's seminal work on Black dandyism, the exhibition took a scholarly approach to exploring the historical and cultural significance of Black tailoring. The gala’s official dress code, "Tailored for You," provided a broader and more personal prompt, encouraging guests to interpret tailoring through their own unique perspectives.  DTC correspondent Malique Morris and joins senior correspondent Sheena Butler-Young and executive editor Brian Baskin to reflect on the night’s boldest looks, the broader discussion on representation and inclusion at the event, and how the prestigious gala could evolve to better support diverse talent. Key Insights: The Costume Institute's 2025 exhibition emphasised fashion as a powerful tool used by Black communities to assert dignity and counteract societal prejudice. Organised into 12 sections, each exploring a different aspect of Black dandyism, it thoughtfully included historically significant garments, like abolitionist Frederick Douglass's tailcoat, underscoring the profound role that meticulously tailored attire has played in activism and representation. "It showed how our activism, while not reduced to an aesthetic, is indeed linked to how we wear beautifully cut clothing,” explains Morris. Natural hair was heavily featured in this year’s gala looks. "Black people's natural hair has always been up for debate, especially when it's of tightly coiled texture. Doechii said so much by wearing that beautiful crown on fashion's biggest night,” says Morris. “Redefining, but also defining what is so natural to us is absolutely stunning and worthy of praise at the utmost event like the Met Gala.” The presence of influencers at culturally prestigious events like the Met Gala remains contentious. Morris questioned the necessity of influencer inclusion, advocating instead for prominence to be given to figures whose cultural impact is undeniable and long-lasting. "The people who were actually shifting culture in a really meaningful way, who have stood the test of time and are icons, it makes a lot of sense for them to take up so much oxygen,” he says. “With this Met specifically, when we're talking about the designers and them having more of a buy-in and them having more of a presence, we're moving in the right direction.” Meaningful progression for the Met Gala, and similar institutions, involves sustained and systemic representation rather than temporary or symbolic inclusion. Morris advocates for lasting change, suggesting a shift towards consistent visibility for independent designers from diverse backgrounds. "I want indie brands having an outsized presence at the Met Gala to be endemic," says Morris. “I think that will be the progress.”   Additional Resources:Black Beauty Excellence Was the Star of the Met Gala At the Met Gala, Dandies Owned the Night  Rethinking Luxury’s Relationship With Black Consumers Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 7 May 2025

It’s been a complicated year for luxury. The sector was already grappling with slowing growth but now American tariffs have disrupted global supply chains, driven prices upwards and dented consumer confidence.  But there's another, deeper long-term challenge that the industry needs to contend with: the perceived trivialisation of high-end fashion. But brands that place craftsmanship at their core are able to overcome this and connect with customers in a deeper way.  Mexican designer Carla Fernández has long been at the forefront of ethical, craft-based fashion. Her brand collaborates closely with Indigenous artisans across Mexico, promoting traditional craftsmanship and advocating for policies like collective intellectual property rights.   “The future is handmade because the objects that are handmade get inspiration from your community, from your environment,” says Fernández. “It goes through your eyes, then it goes to your heart and comes out from your hands. And those are objects that have a soul." After experiencing first-hand how the fashion industry overlooks contributions from the Global South, Tunisian entrepreneur Kenza Fourati co-founded OSAY The Label, a brand focused on elevating artisan footwear crafted in Tunisia and using sustainable materials and traditional techniques. “I'm very angry with this kind of perspective that it's designed somewhere in the Global North, like Paris or Milan, and then it's handmade in the Global South, like Morocco, Tunisia. It feels very fragmented,” she says.  This week on The BoF Podcast, a riveting conversation from BoF CROSSROADS 2025, Carla Fernández and Kenza Fourati discuss the power of craft-based fashion, how to collaborate ethically with artisans and indigenous communities while redefining what true luxury means. Key Insights:  Fashion is an essential vehicle for storytelling. “Textile and text are very connected. If you walk in someone else's shoes, you connect with that person, and you see the unseen and the irrelevant," explains Fourati. Through this perspective, fashion becomes a powerful medium to foster understanding and build connections between diverse cultures and experiences. Fernández shares that growing up in Mexico, she realised early on that the fashion industry often ignored the contributions indigenous people make to  craftsmanship. "At the age of 12, I realised that the haute couture of my country, claimed not to be fashion, was made by artisans in the mountains, deserts and jungles." The disconnect between where fashion is designed and where it is made reflects broader inequities in the system. Fernández says, "In the global north, they keep focusing on the individual as the big name. In Indigenous communities, creation comes from all of us. Collaboration is the most important part.” True luxury is ethical, inclusive and deeply connected to origins and values. Fernández concludes that authenticity is inseparable from ethics. "In true luxury, there is no oppression. To be original, you have to go back to the origins." Fourati adds, "True luxury is being able to wear your values and wear your story." Additional Resources:BoF CROSSROADS 2025: How to Tap into Fashion’s Future Growth Markets Carla Fernández Tena | BoF 500 | The People Shaping the Global Fashion Industry Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 2 May 2025

Viral microtrends, the fleeting aesthetics popularised on platforms like TikTok, have defined recent fashion moments for young consumers. From the playful "Cottagecore" to the fleeting "Mob Wife", these trends have rapidly cycled through social media feeds and retail shelves. Post-pandemic experimentation drove this cycle, however, the once-accelerating churn of microtrends is beginning to slow, as Gen-Z shoppers seek authenticity, durability and individuality in their fashion choices.  On this episode of The Debrief, senior editorial associate Joan Kennedy joins senior correspondent Sheena Butler-Young to talk about what's behind the slowdown in microtrends and what this shift means for retailers and brands. Key Insights:  Microtrends gained momentum post-pandemic when young consumers had extra savings, more leisure time, and a desire to explore various identities through fashion. However, the novelty and playful experimentation eventually led to consumer fatigue. Kennedy explains, "Young shoppers are really looking to grasp onto something solid right now," noting an increased awareness that many trends felt "goofy" or even "fake." She adds, “people are talking more than ever about just this viral churn and how wasteful it is." Young consumers increasingly align their fashion choices with specific cultural events, creating marketing opportunities for retailers. "This whole sense of 'what I am doing is how I'm dressing' has become very popular among young shoppers," Kennedy explains, highlighting opportunities around events like the Barbie movie and Beyoncé’s Cowboy Carter tour.  Retailers can better predict long-lasting trends by monitoring multi-season appeal and connections beyond social media. Kennedy cites Revolve's chief merchandising officer, Divya Mathur, who recommends looking for trends that "span multiple seasons" and have relevance across social media, runway, and pop culture. Kennedy advises retailers to "lean into more evergreen, identity-based marketing," and rethink "what virality looks like" as consumer engagement evolves. “With a lot of these trends, something goes viral and a brand gets a tonne of sales. But let's take a step back as that might shift and brands have to be ready for that.” Additional Resources:The Decline and Fall of the Viral Microtrend | BoF The Life Cycle of a Viral Fashion Trend | BoFHow the Internet Disrupted Fashion’s Trend Cycle | BoF How to Keep Up With TikTok’s Lightning-Fast Trend Cycle | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 29 April 2025

Over the last few decades, Dubai has rapidly transformed from a humble trading port into a global hub for business, tourism, and innovation. With favourable economic policies, strategic location, and an ambitious young workforce, Dubai has become a vibrant destination at the intersection of Europe, Asia, and Africa. Entrepreneur Anas Bukhash has experienced and capitalised on this transformation firsthand. As the host of one of the Middle East’s most-watched talk shows and founder of influencer marketing agency Bukhash Brothers, Anas embodies the entrepreneurial spirit of Dubai. "It's a 50-something-year-old country. It's younger than our fathers and our mothers,” says Bukhash. “So imagine if you come up with an idea and you just moved to Dubai – you could be the first one and then you have that edge of being the pioneer in that field.” This week on The BoF Podcast, Bukhash joins BoF Founder and CEO Imran Amed at BoF CROSSROADS in Dubai to discuss how the city’s openness and youthfulness have shaped a thriving, innovation-driven culture. Key Insights:  Dubai’s youthfulness provides a significant advantage for entrepreneurs. "It's a 50-something-year-old country," says Bukhash. "It's younger than our fathers and our mothers. So imagine if you come up with an idea and you just moved to Dubai – you could be the first one." Dubai offers entrepreneurs the unique possibility of becoming a  pioneer. "If you're fast and you actually have a dream, I think Dubai is one of the few places in the world where you could be the first," says Bukhash. “You have that edge of being the pioneer in that field. If you do that in London or you do it in New York, you're probably number 500.” The rise of Dubai as a content capital is both a blessing and a curse. “Everybody has a smartphone, everybody can claim they are a life coach, or a media personality,” says Bukhash. “But the beauty is the direct journalism and reviews from creators with integrity. You see the situation in a certain country, in a certain place and it's quite a positive aspect.” Still, Bukhash stresses that social media and content creation should be approached with balance. “Let's not also get too hooked on it because then we don't live and experience things properly. In order to get better content as well, you need to travel and see and interview people and have dinners and just feel creative,” he says.  Additional Resources:BoF CROSSROADS 2025: Unpacking Fashion’s Future Markets Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 25 April 2025

From the legendary Hermès Birkin to recent sensations like Alaïa’s Teckel, luxury handbags have long held a distinctive power within the fashion world. Blending brand heritage, practicality, and emotional resonance, handbags often become a signature item for brands to capture consumer attention and drive commercial success. But the ongoing challenge for luxury brands is maintaining innovation, managing consumer desire, and navigating a landscape rife with copycats and shifting trends. On this episode of The Debrief, senior correspondent Sheena Butler-Young speaks with luxury correspondent Simone Stern Carbone about the power of an iconic handbag and the delicate balance brands must achieve to keep them relevant. Key Insights:  Bags often become the most recognisable symbols of luxury brands, significantly contributing to their financial performance. For instance, Alaïa’s Teckel bag – a playful, wiener dog-shaped design – helped offset the weaker performance of parent company Richemont’s other fashion labels. “That one bag was able to do so much, not just for the brand but for the larger company that the brand sits under,” says Stern Carbone. “That just says so much about the impact that a single wiener dog-shaped bag can potentially have.” Handbags are particularly attractive as entry-level luxury items because they are recognisable status symbols. “Consumers might not recognise jeans from Bottega, but they will recognise whether a bag is Louis Vuitton,” explains Stern Carbone. “Bags are something that people will purchase time and time again; they will use them daily. And if done right, it really becomes the totemic product for a brand.” Successful handbag designs can become immediate targets for imitation due to limited legal protections and the ease of replicating shapes and materials. “Once the bag gets copied, it's already over,” notes Stern Carbone, underscoring the need for continuous innovation or artificial scarcity, as mastered by Hermès with its Birkin and Kelly bags. Brands must innovate thoughtfully, staying true to their heritage and core identity rather than pursuing novelty for novelty’s sake. “Empower your creative design teams and give new voices a chance,” advises Stern Carbone. “The beautiful thing is there's variety for everybody. Brands just need to authentically strike the cord with their loyal consumer base… and handbags are a way to do it.” Additional Resources:In a Market of Copycats, Handbag Innovators Stand Out | BoF Can Slouchy Work Bags and a Selfie Mirror Grow Delvaux? | BoF How Polène Is Growing French DTC Handbags Into an International Success | BoF On the Wings of Céline | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 22 April 2025

Right from the outset, Tory Burch  had a vision: to create a business where profit and purpose could go hand in hand. She was quick to take her brand global, first to Tokyo in 2009, and then on to Rome, Paris, Shanghai and beyond.  Today, Tory Burch operates more than 350 stores around the world and across the Global South, including the Middle East, Latin America and South East Asia. Her partner in life and business, Pierre-Yves Roussel, joined the company as CEO in 2019 after working with some of the industry’s top creatives as Chairman and CEO of the fashion group at LVMH. Together, they’ve taken a measured, intentional approach to growth, balancing global ambition with a focus on finding  local relevance. “It seems so superficial to hear, ‘let's just transplant a Westerner into a [different] market. That's just the opposite of how we look at things,” says Burch. "Authenticity is what people are going to be looking for more and more," adds Roussel. "You don't try to please every customer in the world. You attract the people that relate to who you are and what you stand for and what you propose." This week on The BoF Podcast, BoF founder and CEO Imran Amed in conversation with Tory and Pierre-Yves from BoF CROSSROADS in Dubai, exploring what it means to build an authentic, global brand in today’s competitive fashion marketplace. Key Insights:  Burch believes purpose should drive business strategy. “From day one, my business plan was how do we have a successful business with incredible products that actually have deeper meaning and support a foundation for women entrepreneurs,” she says. Roussel emphasises authenticity as the key differentiator in today’s saturated fashion landscape. "People probably feel that there's too much formula around. Everyone is doing pretty much the same thing. People are really looking for authenticity." Operating globally requires deep local insights.  For  Burch and Roussel, global expansion isn’t about transplanting a fixed brand formula. Instead, it’s about deeply understanding and respecting local traditions. "It seems superficial to transplant a Westerner into a market – that's the opposite of how we look at things," says Burch. Roussel adds, "You don't change the essence of who you are, but you translate it into the local culture." Navigating uncertainty, like shifting global tariffs, requires resilience. "Grace under pressure is very important," says Burch. "You have to be calm, not overreact or overcorrect, because it’s an iterative process." Thoughtful growth is central to Burch and Roussel’s strategy. "I've always wanted to be the most exceptional company, not necessarily the biggest," Burch explains. Roussel adds that "it's more about being focused and really going after things we really want." Additional Resources:BoF CROSSROADS 2025: How to Tap into Fashion’s Future Growth MarketsAfter the ‘Toryssance’: Tory Burch’s Balancing Act | BoFThe BoF Podcast: Tory Burch on Finding Purpose in Female Empowerment Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 18 April 2025

In early April, President Donald Trump announced an unprecedented wave of tariffs, imposing duties as high as 145 percent on imports from China. Among the rationales offered were the prospect of a US manufacturing renaissance. The American fashion sector – heavily reliant on overseas production, particularly in China – now faces significant disruption. Some brands are adapting quickly, leveraging their domestic operations and leaning into a ‘Made in USA’ identity. Others are reevaluating their reliance on China as their primary sourcing destination. But the prospect of a mass return of garment manufacturing jobs remains a remote possibility, most economists and fashion industry experts say.  In this episode of The Debrief, BoF correspondents Malique Morris and Marc Bain join executive editor Brian Baskin and senior correspondent Sheena Butler-Young to assess whether the dream of American-made fashion is any closer to reality. Key Insights:  The ‘Made in USA’ dream remains out of reach due to the lack of US manufacturing infrastructure. "The infrastructure just literally isn't here," says Bain. "Even if you use US grown cotton, most of the time that cotton is shipped out of the US to be spun into yarn and woven into fabric somewhere else. These are all sorts of things that we just don't have here. It's been lost over decades and it would take decades to get it back.” Brands that already manufacture domestically are seeing success from marketing craftsmanship, experience and emotional value. The outdoor clothing company Filson, for example, offers walking tours around their manufacturing facility that shares a space with their Seattle headquarters. “Fashion is already an emotional purchase, and consumers do care about the story behind a brand. That's why brand marketing is so important for building the label,” says Morris. “This is another way to tap into that. It's storytelling, not nationalism.”  Whereas the US has a lack of infrastructure for manufacturing, China is in the exact opposite position. Small brands might have their supply chain concentrated in one geographical area and are especially vulnerable to tariff changes. “If that area happens to be China and suddenly there's this giant more than doubling of tariffs, you are in serious trouble,” says Bain.   Although cheap overseas clothing companies like Shein and Quince will now be subject to increased duties, consumers won’t abandon cheap fashion overnight. “Even if [middle-class shoppers] are not going to buy American-made brands that are significantly more expensive, maybe they'll go second-hand, maybe they'll vintage,” says Morris. “I think the hope here is that people will just get conditioned out of the idea that they can get $2 jeans and a $10 dress.” Additional Resources:How Made-in-America Brands Turn Tariff Turmoil Into Opportunity | BoFWhy ‘Made in America’ Is Still a Fashion Fantasy | BoFUnravelling the Myth of ‘Made in America’ | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 15 April 2025

Born in the suburbs of Kolkata, India Sabyasachi Mukherjee grew up immersed in the rich cultural environment in the state of West Bengal. After attending fashion school, he focused on creating his own brand with a small team and a big vision: to create Indian fashion that honours tradition while setting a new global standard.  His first foray into the global market at  New York Fashion Week in 2006 was dismissed by some critics as  being “too ethnic”, but he remained undeterred, returning to India to build a business with power, presence, and purpose. Now he’s back in New York, creating a sensation with his first store outside India. The reception has been much warmer even if the core philosophy remains the same.  “The clothing hasn’t changed at all. What’s changed is people’s perception – and I think nothing succeeds like success,” he says. “The only way you can succeed is to just stay strong. Because if you do not have a unique identity, you'll never be globally recognised.” This week on The BoF Podcast, a conversation with Sabyasachi from BoF CROSSROADS which took place in Dubai, bringing together top business and creative leaders to examine opportunities for fashion, beauty and luxury brands in the Global South. Key Insights:  Mukherjee’s early setbacks in New York taught him that success doesn’t come from fitting in, but rather from standing firm. "Keep holding onto your belief system because if you do not have a unique identity, you'll never be globally recognised.” His designs haven't changed over the years but perceptions have. “Once you start having authority to tell people that this is the way you want things to happen, people stand up and listen to you."Global brands often fail in India because they misunderstand its luxury consumer. "What they need to do is they need to have a stronger cultural connection with the country for people to understand why they should pay these kinds of prices," he says. "There's a misnomer about India that Indians buy cheap, but that's not true at all. I think Indians buy value. So if you can come and show the value of your brand to India, Indians will open up their wallets."Amid shifting geopolitics and US trade tariffs, Mukherjee sees an opportunity. "This  becomes a wonderful opportunity for us to say that we can together create our own dominance. Many times we think the solution  only lies in the West, not knowing how much stronger the solution is within our own ecosystem," he says. "I think a lot of people, a lot of countries, designers, markets, finance people, influencers, everybody will come together to push up the might of the Global South. It's going to happen for sure."Mukherjee believes cultural craftsmanship should be protected on a global scale. "While there are certain things that can be put under tariff, I think businesses which are made with craft and which are with local cultures should be exempted so that we can let them thrive and we can make the world a more richer, diverse, and a meaningful place to live in." Additional Resources:BoF CROSSROADS 2025: Unpacking Fashion’s Future MarketsWhy Billionaire Industrialists Are Snapping Up India’s Fashion Brands | BoF   Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 11 April 2025

President Donald Trump announced an unprecedented wave of tariffs on April 2, imposing duties as high as 54 percent on fashion imports from key manufacturing countries, including China and Vietnam, and 20 percent on goods from the EU. These measures immediately sparked panic across global markets, ratcheting up the odds of a US recession and causing sharp stock price declines for major fashion brands such as Nike, Victoria's Secret and VF Corp.  Sustainability correspondent Sarah Kent and luxury correspondent Simone Stern Carbone join executive editor Brian Baskin and senior correspondent Sheena Butler-Young to break down the tariffs’ effects on manufacturing, luxury brands, consumer behaviour and potential future shifts within the industry. Key Insights:  The belief that these tariffs could quickly restore US-based fashion manufacturing is unrealistic. "It would take years of investment to build up the infrastructure and skill base within the US to replace manufacturing capacity that has been moving abroad for decades. For the apparel industry, it just does not exist on the scale that would be needed," explains Kent. Luxury brands, traditionally insulated by European-based production, will also face pressure. "Even for luxury brands that pride themselves for their production in countries like mostly France and Italy, they are going to be hit with some tariffs too," Stern Carbone points out. The tariffs introduce a complex challenge for luxury brands, requiring careful balancing of price adjustments, consumer sentiment and creativity amid ongoing economic uncertainty. "It's this mix between pricing, demand, maybe a lack of creativity, and also incentivising customers to actually purchase luxury goods," says Stern Carbone. "You don't know what [Trump] is going to do next, you don't know if this is going to stick, so are you going to spend $10,000 on a handbag - even if you can technically afford it - when you don't know what tomorrow brings?" emphasises Kent. The industry isn’t entirely powerless. "Brands have a voice. Brands are part of the global economy. Brands can lobby," says Kent. "They can make it known that they don't like this. If you're not raising your voice and saying, 'hey, this is really hurting big business and it's not making America great again,' then you're not even trying." Additional Resources:Trump’s Tariffs Rock Fashion’s Supply Chain | BoFExplainer: How Trump’s Tariffs Threaten Luxury Fashion | BoFOp-Ed | Fashion’s Reset: What Tariffs Are Forcing Us to Finally Fix | BoF Executive Memo | An Action Plan for Navigating Trump’s Tariffs Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 8 April 2025

After years of honing his craft at Savile Row, studying at Central Saint Martins, and working for Givenchy, Edun and Golden Goose, Japanese designer Satoshi Kuwata created the brand Setchu, a deeply personal response to his passion for blending Japanese and Western ideas.  Grounded in precision tailoring and shaped by the poetic restraint of the kimono, Kuwata’s work reflects a lifelong pursuit of balance – between cultures, between past and future, and between creativity and business.  “Once you meet the Western garment, it's free. You can do whatever you want. Some people go too crazy, but designers like Rei Kawakubo, and Yohji Yamamoto are geniuses, for understanding the flow of the fabric, understanding the shape of it but still keeping their Japaneseness,” shares Kuwata. Kuwata joins BoF Founder and CEO Imran Amed to explore how his Japanese upbringing shaped his creative vision, how Savile Row and Saint Martins gave him the tools to execute it, and why he’s just as focused on designing a company as he is designing clothes. Key Insights:  Kuwata's design identity is rooted in a lifelong tension between his Japanese heritage and Western training. Having studied Savile Row tailoring and graduated from Central Saint Martins, he continues to explore how 2D kimono principles and 3D Western garment construction can coexist in one garment and one brand. “Setchu is the journey of finding the right balance,” he says. Kuwata’s years at Savile Row shaped his technical fluency and deep respect for tradition. “I really loved British designers because of tailoring … because that’s the most complicated garment,” he says. Working at prestigious houses like Huntsman, he absorbed a culture of precision, etiquette and generational craftsmanship. “I was probably the last generation to feel or to experience that kind of old culture,” he reflects. That foundation now anchors his design approach, even as he pushes toward innovation. Kuwata wants Setchu to be a new kind of fashion company that is collaborative, thoughtful, and grounded in mutual respect. He believes in designing a workplace culture as intentionally as he designs garments. “As a leader, … I'd like to design a company as well. I'd like to design a beautiful relationship as well, he says. “If I have a good team, I don’t need to tell them to finish on time – they’ll do it even earlier.” Building an independent brand comes with real challenges, from financial anxiety to industry expectations, but Kuwata reframes pressure as opportunity. “Fashion is fashion. It’s not 100% that people love your collection. I don't take it as pressure. I always take it as an opportunity, and I always dream big.” Additional Resources:Satoshi Kuwata | BoF 500 | The People Shaping the Global Fashion Industry Satoshi Kuwata’s Setchu Wins the 2023 LVMH Prize | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 4 April 2025

Fast-fashion giant H&M recently announced its plans to deploy AI-generated "digital twins" of real-life models in marketing campaigns. While H&M argues it's proactively managing inevitable industry changes, including by working with models to compensate them for use of their AI versions, the decision has sparked significant backlash. Comments on social media and statements by industry figures highlight deep-seated anxieties around job security, creative integrity and the value of the human element in fashion.  BoF correspondents Marc Bain and Haley Crawford discuss the potential outcomes and tensions arising from AI’s expanding role in fashion marketing. Key Insights:  H&M is just the tip of the iceberg: Fashion brands are increasingly embracing AI, from fast fashion to luxury. While AI-generated imagery has quietly infiltrated lower-end markets for some time, H&M's public embrace signifies its move out into the open, and into the world of high-profile campaigns. High-end brands like Coach and Estée Lauder have started using AI for product-focused imagery, indicating a cautious yet clear shift. "Coach uses Adobe Firefly to create digital twins of its products… to scale marketing content and test designs," says Crawford, highlighting how AI is already reshaping marketing across the fashion spectrum. Transparency around AI use in marketing is still inconsistent, and regulations are lagging behind. "The technology is moving so rapidly, it's making its way out into the world already, and the law is trying to catch up," Bain explains. While the EU is moving toward legislating transparency in AI-generated imagery, the lack of clear rules globally adds complexity for brands and consumers alike, creating uncertainty around ethical marketing standards. The rise of AI-generated imagery raises concerns over the loss of the creative collaboration intrinsic to traditional fashion shoots. "What's really at risk of being lost here is that communal process of creating fashion imagery," says Bain. "Some level of creativity and humanity, in addition to all the jobs themselves, which are also hugely important, will also be lost." As AI image generation continues to be adopted by brands, it is creating increased competition, forcing both digital and traditional creatives to innovate further. "You can't only live in an endlessly self-referential cycle of AI image generation, even if AI is piecing different concepts together to generate newness," Crawford says. "People working on photography, art, whatever the artistic format is, will only get more creative and people are going to experiment more to stand out." Additional Resources:H&M Knows Its AI Models Will Be Controversial | BoFThe Fake Fashion Campaigns That Show AI’s Future in Marketing | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 1 April 2025

Guy Berryman grew up with an engineer's mind and a passion for making things. After studying mechanical engineering and architecture, he found global fame as the bassist of Coldplay. But his love for making things never went away. In 2020, he launched Applied Art Forms, a clothing label that draws inspiration from utilitarian design, military garments and mid-century modern aesthetics. Now stocked in over 50 stores worldwide, including Dover Street Market, the brand is growing slowly but deliberately, with a creative process that he likens to making music.  “The way I make things is very much like [how] we make songs, which is you throw ideas down and then you listen to it, judge it and see what it is. It’s a very sculptural process, says Berryman. “I'm not just backing someone else's brand. This is absolutely hands on, this is my baby.” This week on the BoF Podcast, Berryman joins BoF founder and CEO Imran Amed to discuss the steep learning curve of building a fashion business, why quality and longevity matter more than hype, and how his creativity flows across creative disciplines.  Key Insights:  Berryman describes himself as having "an engineer's brain," shaped by his background studying mechanical engineering and architecture. This maker's mentality underpins his meticulous, hands-on approach at Applied Art Forms – from crafting prototypes to obsessing over garment details. "I'm on the studio floor, my hands and knees cutting, sewing, gluing, stitching," he says. "This is absolutely hands on." Berryman designs garments with longevity in mind. "I always feel like clothes actually get better the more you wear them," he says. "I feel that way towards everything that we're doing and I like the idea that everything that people buy from us is going to be with them for a long period of time." Despite his passion for clothing, Berryman admits he entered the fashion industry naively. He quickly learned that building a brand from scratch requires humility and perseverance. "Nothing can prepare you for the reality of making and selling clothes. It's an incredibly brutal industry to be in," he says. "What I've come to realise is you can only survive in it if you're completely passionate about the process.” Working in fashion hasn’t taken away from his role in Coldplay, but rather enhanced it. "Having a creative outlet elsewhere has allowed me not to feel like I have to impose myself creatively into the band," Berryman says. He approaches clothing the same way he makes music: "You listen to it, judge it and see what it is. It’s a very sculptural process." Additional Resources:Will Dover Street Market’s Big Bet on Independent Fashion Pay Off? | BoF This episode includes a short clip from "Yellow," written by Chris Martin, Guy Berryman, Jonny Buckland, Will Champion, performed by Coldplay (© 2000, Parlophone Records). Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 28 March 2025

Pat McGrath is widely regarded as one of the most influential makeup artists of all time. Known simply as “Mother” to some in the industry, she’s been behind some of the most memorable runway beauty moments for decades. In 2015, she launched her namesake brand, Pat McGrath Labs, which quickly became a beauty phenomenon – going viral with its glittering gold pigment and reaching a $1 billion valuation just two years later. But almost a decade on, the business tells a different story. With its valuation now a fraction of what it once was, high executive turnover, limited product accessibility, and internal challenges, the brand’s future hangs in the balance – even as McGrath's own star continues to rise with a new role as beauty director for Louis Vuitton. The Business of Beauty editor Brennan Kilbane and executive editor Priya Rao, explore what went wrong and how the business can get back on track. Key Insights:  In its early years, Pat McGrath Labs thrived as a high-concept beauty brand that translated runway artistry into consumer excitement. The first product, Gold 001, was a multipurpose pressed gold pigment that sold out within minutes and crashed the website. As Kilbane describes, the brand began as “a direct pipeline from her creative brain to the cosmetics market.” The initial success solidified McGrath’s cult status – and set high expectations for what came next. When Pat McGrath's 'glass skin' look went viral after the Maison Margiela couture show, it could have been a pivotal brand moment. But the product inspired by the look – and released more than a year later – failed to maintain momentum. “They tried to capitalise on it by scheduling a masterclass a week later,” says Kilbane, “but it wasn’t fast enough.” Additionally, according to Rao, the bigger issue with late deployment was product wearability: “It’s not something that’s everyday or wearable in any capacity.” Pat McGrath’s artistry is legendary, however operationally, Pat McGrath Labs fell flat. “Pat McGrath Labs was Pat McGrath. She is the CEO, she is the founder, she's the creative director – the buck stops with her,” says Kilbane. With final say on everything from product formulation to packaging, this all-encompassing control created a bottleneck that affected every part of the business. The result was a company where decision-making was slow and fragmented. With valuation plummeting and Sephora shelf space dwindling, both Kilbane and Rao agree that McGrath’s company needs a reset. “Does it need new investors? Probably,” says Rao. “But it also needs leadership and operational know-how for it to actually scale. Otherwise, it’s going to be a pet project in comparison with what she does with Louis Vuitton.” Kilbane adds, “Fixing the company culture is going to be integral – if not even more impactful than integral – to the brand’s longevity.” Additional Resources:What Happened to Pat McGrath Labs? | BoF Louis Vuitton to Launch Makeup Line | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 25 March 2025

i-D magazine was founded in 1980 by Terry and Tricia Jones, pioneering a new kind of fashion storytelling that mixed street style with high fashion, always with an eye — and a wink — to the future. The magazine has had its ups and downs, and in 2023 fell victim to the bankruptcy of Vice, which had acquired i-D from its founders in 2012.  Enter Karlie Kloss and her burgeoning media company, Bedford Media, which has plans to revitalise i-D under a new editor-in-chief, Thom Bettridge with experience at 032c, Interview, Highsnobiety, and Ssense. Now, Bettridge  is on a mission to re-establish i-D as a cultural institution for a new generation — one that values community over clicks and retention over viral attention. “I've worked on viral covers and while they can do so much for your exposure as a small brand, at the end of the day, it's really like a sugar high. That famous person's fans are there to see the person they like. Not that many of them actually stick around,” says Bettridge. “We're moving from this attention era to a retention era, where the smarter brands are figuring out how to build a narrative people are invested in.”Bettridge joins BoF founder and CEO Imran Amed to talk about his journey to i-D and what it takes to relaunch an iconic title for a new era. Key Insights: Moving from biannual publications like 032C to the fast-paced, blog-style environment of Highsnobiety, Bettridge learned to step back from editing every piece, focusing instead on nurturing a team that could maintain quality content at a rapid digital pace. "I had to cultivate a team that is going to do great work even when I'm not directly touching it," he says. "It was a big growth thing, learning how to be more of a coach than an editor of editors." At e-commerce platform Ssense, Bettridge discovered content was most successful when it offered intrinsic value, fostering long-term brand loyalty. He likens Ssense's editorial content to a great coffee shop attached to a hotel: Even if people aren’t shopping for luxury fashion every day, they could drop by for a daily dose of engaging content, building a habitual connection to the brand. "What really worked was if you just made great content, you then became part of someone's digital diet in a way that built loyalty with the brand," he explains. For the relaunch cover of i-D, Bettridge chose Enza Khoury, a trans woman living in the Republican state of Ohio in the US, after a casting call brought in over 800 video submissions. “We really wanted to find someone who encapsulates the present moment, and feels like a representative of our time,” Bettridge explains. In addition to her charisma, Enza’s personal story captured something bigger. “It almost felt like her life was telling a story of what it means to live today.” Bettridge emphasises shifting from viral celebrity-driven covers to nurturing a dedicated audience. He describes viral covers as a "sugar high," suggesting the real value lies in sustained engagement. "You can create this huge wave of eyeballs, but are these people actually going to buy what you're selling?" he asks. The goal, he says, is to transition "from an attention era to a retention era." Additional Resources:i-D Magazine Appoints Thom Bettridge Editor in Chief Op-Ed | Go Big or Go Hyper-Niche Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 21 March 2025

Once a dominant player in fast fashion, Forever 21 recently filed for bankruptcy for the second time in six years, marking the likely end of its run as a physical retailer. The chain, known for introducing ultra-affordable, trend-driven clothing to American malls, struggled to remain relevant as competitors like Zara, H&M, and later Shein and Temu offered faster, cheaper, and more digitally-savvy alternatives. After its initial bankruptcy in 2019, Forever 21 was acquired by Authentic Brands Group and mall operator Simon Property Group, but despite various turnaround attempts – including unusual collaborations and international relaunches – it failed to recapture its former success. Retail editor Cathaleen Chen joins The Debrief to unpack what Forever 21’s fall says about the future of fast fashion. Key Insights:  Chen argues that Forever 21’s downfall is largely due to its loss of cultural cachet. “You don't see influencers peddling Forever 21 in the way that you see influencers still promoting Shein, and I think that's a huge factor. You have to spend that money to be relevant,” says Chen. Chen contends that fast fashion retailers like Forever 21 have always struggled with establishing a unique identity, which ultimately made it difficult for them to maintain customer loyalty. “The problem with Wet Seal, Rue 21, and now Forever 21 is that these retailers never really had any kind of identity,” she explains. The retailer’s failure to evolve beyond chasing transient trends has left it vulnerable to more agile competitors. “It's not about just chasing fashion, fashion, fashion the way that I think Forever 21 never got out of, the way that Shein dominates. It's about going the other direction and creating products that your customers want at a level of quality,” says Chen. Looking forward, success in fast fashion will require more than affordability. Chen believes future winners must combine low prices with a compelling retail experience: “There is an element of surprise and delight in that shopping experience. It can't just be cheap, affordable – it needs to offer something more.” Additional Resources:The Year Ahead: Deconstructing Fast Fashion’s Future | BoF Why Shein Keeps Buying Its Rivals | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 18 March 2025

Demna's move to Gucci, announced after weeks of feverish speculation, stunned industry observers and sent shockwaves through financial markets, with Kering shares dropping sharply by more than 12%. While some hail this as an opportunity for Demna to reinvent Gucci through his distinctive cultural lens, others question his ability to break free from his Balenciaga legacy.. BoF founder and editor-in-chief Imran Amed posits, “The really big question here is, can Demna do something different?” Meanwhile, Donatella Versace’s transition from Chief Creative Officer to Chief Brand Ambassador marks the end of a storied era and the beginning of a new chapter under Dario Vitale. Highlighting Donatella’s cultural impact, BoF editor-at-large Tim Blanks notes, “Versace was one of the few names that registered with people who didn't know anything about fashion.”  Fresh off a stellar tenure at Miu Miu, where he helped to ignite record growth, Vitale faces the ambitious task of balancing Versace's iconic legacy with a renewed contemporary relevance. With whispers of potential acquisition by Prada Group swirling, Versace stands at the precipice of transformation. Additional Resources:Why Gucci Picked Demna | BoF Dario Vitale to Succeed Donatella Versace as Chief Creative Officer of Versace | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 14 March 2025

This season, all eyes were on the debuts of Haider Ackermann at Tom Ford and Sarah Burton at Givenchy. Meanwhile, designs at Alaïa and Valentino continued to push boundaries with daring silhouettes that either stood away from the body or felt purposely incomplete.  Behind the new faces and unconventional shapes was a deeper exploration of eroticism. From Ackermann’s sensual glamour at Tom Ford to what Tim Blanks calls the “quiet eroticism” of Burton’s Givenchy, designers seemed united by a playful fascination with the body — and a desire to subtly challenge its boundaries. “Fashion is a very fetishistic art form,” says Tim Blanks, BoF’s editor-at-large. “It has its fixations on the body and the way it fetishizes objects, but fashion is about fetishizing beauty and ugliness. A lot of these different things have been coming up over the last few years.” Following the conclusion of the Autumn/Winter 2025 shows, Blanks sits down with BoF founder and editor-in-chief Imran Amed to discuss the highlights of fashion month. Key Insights:  Across the season, there was plenty of body on display. At Alaïa, Pieter Mulier presented striking new silhouettes that played with unusual proportions, creating shapes that stood away from the body. These exaggerated forms, described vividly by Amed as "body condoms," challenged the relationship between clothes and the body. At Duran Lantink, prosthetic pieces humorously toyed with ideas of eroticism. “What are they trying to say with these clothes?” asks Blanks. “There is a new body consciousness and people want to show off their svelte new forms.” Ackermann’s debut successfully merged Tom Ford’s famed sexual glamour with a reflective, intimate approach. “Tom is a sexualist and Haider is a sensualist, but there was a compatibility there in the erotic rigour in both of their work,” says Blanks. “I thought Haider did a wonderful job of doing a Haider Ackermann for Tom Ford collection; honouring the essence of one, but really bringing the dynamism of the new.” Also facing a house with a storied heritage, Burton’s debut collection for Givenchy returned to its earliest codes and patterns. “We haven't seen something that's projecting Givenchy into the future but also really grounded in the past. And I think that's what clicked, because the other attempts were either too much in the future and disconnected from the past, or too much in the past and not taking it anywhere new,” says Amed. “She proved what a great designer she is,” adds Blanks. Watching from home, Blanks was struck by the step-and-repeat that preceded the Off-White show, where attendees arrived in bold, expressive looks from the brand’s current collection. This real-life display of style, Blanks notes, “softened him up” for the actual runway. “You see the clothes on real people, so it's not like, ‘Who would wear this?’” he says. Amed highlights this as an added opportunity to capture customers watching online: “There's a step-and-repeat for what's available to buy now, and then there's the show for what's available for the future.” Additional Resources:Sarah Burton’s Givenchy Debut: First Principles Take FlightAckermann and Ford: A Deliciously Dangerous Liaison Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 14 March 2025

Executive editor Brian Baskin and senior correspondent Sheena Butler-Young speak with editorial associate Yola Mzizi about how regulatory restrictions and cultural conservatism are forcing sexual wellness brands to pivot their messaging in 2025. Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 11 March 2025

Born in Sardinia on a sailing boat to self-described “adventurous” parents, Francesco Risso grew up in an environment that fostered independence, spontaneity and a deep need to create. After formative years at Polimoda, FIT and Central Saint Martins — where he studied under the late Louise Wilson — he joined Prada, learning firsthand how to fuse conceptual exploration with a product that resonates in everyday life. Now at Marni, Risso continues to embrace a method he likens to an artist’s studio, championing bold experimentation and surrounding himself with collaborators who push each other to new heights of creativity.  “Creativity is …  in the way we give love to the things that we make and then we give to people. I feel I don’t see so much of that love around,” says Risso. “We have to inject into products a strong and beautiful sense of making. That requires craft, it requires skills, it requires a lot of fatigue, it requires discipline.” Risso joins BoF founder and CEO Imran Amed to explore how his unconventional childhood shaped his creative approach, why discipline and craft remain vital to fashion, and how meaningful collaboration can expand the boundaries of what’s possible. Key Insights:  Growing up in a busy, non-traditional household, Risso learned to express himself by altering and reconstructing clothing he found in family closets. “I started to develop this need to make with my hands as a means to communicate,” he says. “I would find something in my grandmother’s closet, start to disrupt it and collage it to something from my sister’s wardrobe and we have a new piece.” This early experimentation laid the groundwork for his vision of and approach to design. From Louise Wilson at Central Saint Martins to Miuccia Prada, Risso has absorbed the value of rigorous research, conceptual thinking and extended ideation. “You have to rely on your own strengths and your own capability to go and study, to go and research, to go and find your things,” he says. “That is key to me, to become a designer with a voice.” Whether partnering with artists through an informal “residency” or collaborating with brands like Hoka, Risso insists that a great tie-up is never about simply sticking art on a T-shirt or rushing a gimmick. “Processes are about learning from each other … and that generates a body of work that then becomes either art or clothes.” His focus on genuine exchange expands the creative horizon for both Marni and its collaborators. Risso’s advice to emerging designers is to appreciate the fundamentals of making in favour of more superficial aspirations. “I dare young people to be more focused on engaging with the making, rather than just projecting in the future,” he says. “A strong sense of making requires craft, it requires skills, it requires a lot of fatigue, it requires discipline.” This hands-on grounding, in his view, is essential for developing a lasting, meaningful design practice. Additional Resources:Francesco Risso | BoF 500 | The People Shaping the Global Fashion Industry Exclusive: Inside Hoka’s Fashion Ambitions | BoFBackstage Pass | Marni and the Thread of Beauty | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 7 March 2025

Once hailed as a pioneering platform for online luxury, Farfetch is now undergoing a dramatic operational overhaul. The South Korean e-commerce giant Coupang acquired the luxury marketplace in 2023, rescuing it from near-bankruptcy. Since then, Coupang has implemented sweeping cost-cutting measures that have narrowed losses significantly, but are eroding Farfetch’s footing in the luxury e-commerce space and alienating its core customers.  DTC correspondent Malique Morris joins Executive Editor Brian Baskin and Senior Correspondent Sheena Butler-Young to examine Farfetch’s path to profitability. Key Insights:  Coupang's relentless drive to push Farfetch toward profitability clashes with the premium expectations of luxury shoppers as cost-cutting is prioritised over customer experience. “Coupang is so hyper‐focused on getting Farfetch to profitability ... and when you're dealing with people who are spending $100,000 a year on the marketplace, it doesn't quite work that way,” explains Morris. “They’ve also cut teams dedicated to working with Farfetch’s VIP customers, who can make up as much as 30% of the company’s annual sales.” This tension between operational efficiency and delivering a high-end experience is at the heart of Farfetch's challenges. Farfetch’s “sold by Farfetch” programme highlights its growing disconnect with luxury brands. As luxury powerhouses like Celine, Alaia and Kering – which includes Gucci, Saint Laurent and Bottega Veneta — pull their collections from the platform, Farfetch has turned to a grey market tactic to maintain its inventory. “Instead of sending the goods straight from the retailers to the customers, the items are now going to a warehouse in Amsterdam to be repackaged,” says Morris. “It's not only a knock to Farfetch's relationship with top brands, but it also risks deteriorating customer service.” This move, intended to sidestep brand resistance risks undermining transparency and trust among high-end partners. Farfetch's biggest superpower is that many independent boutiques still rely on it. “If Farfetch can at least do right by those retail partners, then it probably has a shot of stabilising its footing in online luxury,” says Morris. “Coupang will eventually have to allow Farfetch to reinvest in their relationships with customers and brands. That might cost them a couple million, but hopefully with the renewed focus on just the marketplace, Farfetch won't go back into the red in the process.” Additional Resources:Inside Coupang’s Tug of War With Farfetch | BoFFarfetch Owner Coupang: Everything You Need to Know | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 4 March 2025

James Whitner — founder of The Whitaker Group and the visionary behind retailers such as A Ma Maniére and Social Status — reveals how culture, purpose, and empathy drive his approach to business. Whitner witnessed firsthand how marginalised communities often face limited options, shaping his commitment to serving communities typically overlooked by the fashion industry.   “I think what helped me understand life is difficult, it's just seeing a difficult life, right? Watching people struggle and seeing that there is privilege in pain,” says Whitner, about growing up in Pittsburgh, Pennsylvania. “When I look at what we’re creating now, it has purpose and is about standing up Black culture at the centre,” Whitner adds. “Everything is about real experiences and connections to people.” This week on the BoF Podcast, founder and CEO Imran Amed sits down with Whitner to explore his journey, learn about the driving force behind The Whitaker Group’s community-centric retail experiences, and understand why authenticity and cultural connection are non-negotiables in today’s fashion landscape. Key Insights:  Intentionality and human connection are integral to James Whitner’s approach to retail spaces. Rather than focusing solely on product or profit, he strives to shape how people feel and engage with his brands. “We want to be really intentional about how we make humans feel, our connection to humanity, and how we can build a community,” he explains, emphasising that empathy and shared purpose can help to forge  vibrant, long-lasting communities. Whitner also contends that building  authentic connections starts with recognising the integral role of culture and purpose. “We sit in brand experiences and purpose because you can't leave culture out. I think everything we do is centred in culture,” he says.  A key to Whitner’s success is resisting the temptation to be “for everybody.” Instead, he focuses on aligning with partners who share his vision for serving specific audiences with integrity. “If you want to work with brands who want to be for everybody, that means you’re for nobody,” he explains. Whitner champions an unwavering optimism that stays intact even amid shifting political headwinds. “We have to wake up and work and we have to be optimistic about the things that we can accomplish. If not, we've already lost because an administration change doesn't mean that my feelings around the work we're doing has changed and it doesn't mean that we can't be as impactful as we've always been.” Additional Resources:Streetwear Maven James Whitner Launches A Ma Maniére’s First In-House Line | BoFWhere Are Fashion’s Black CEOs? | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 28 February 2025

The revelation this year of child labour in India’s cotton fields and modern-day slavery in Taiwanese garment factories is the latest scandal concerning worker treatment in fashion’s supply chain. New abuses keep emerging despite efforts by brands, manufacturers, activists, and governments to set clear labour guidelines. Watchdog groups try new tactics to combat the problem, but they face systemic forces far beyond fashion. Sustainability editor Sarah Kent joins executive editor Brian Baskin and senior correspondent Sheena Butler-Young to discuss the problematic labour dynamics underpinning the fashion system. Key Insights:  Persistent abuse in fashion’s supply chains is not merely about isolated incidents but reflects deep-rooted socio-economic challenges. In India’s cotton industry, for example, many farmworkers come from extremely marginalised and impoverished communities where exploitation is a norm rather than an exception. Families often work together under hazardous conditions, with little oversight or recourse. “So you're not just dealing with an issue of exploitation that is coming from the [fashion] industry, you're dealing with a culture that is ingrained in the way that community works – and that is a very difficult, complicated thing to try and manage, ” explains Kent.  Transparency in supply chains remains critical. Despite decades of advocacy, many brands struggle to verify the origins of their cotton. The global cotton supply chain’s complexity—where materials pass through multiple suppliers and traders—makes tracing raw cotton back to its source extremely difficult. “The traders will have been getting the cotton from ginners who will have got raw cotton from … maybe hundreds of thousands of small family farms aggregated it, ginned it, sold it onto a trader who then sells it up through the supply chain. So by the time it even gets to a spinning factory, tracing it back to the farm where it came from is really, really difficult,” says Kent. In Taiwan’s textile industry, systemic issues like excessive recruitment fees burden migrant workers, yet change is stalling. Despite growing awareness and repeated calls for reform, manufacturers have little incentive to alter longstanding practices without coordinated industry action and regulatory intervention. As Kent notes, “Without other brands operating in Taiwan coming together and trying to do the same thing, the industry as a whole isn't going to move.” And without regulatory shifts, manufacturers have little reason to remove recruitment fee burdens from workers. Consumer trust in ethical claims is vital for brands that present themselves as responsible. However, when ethical certifications and claims are diluted by inconsistent practices and opaque supply chains, consumers quickly lose faith. This erosion of trust can undermine efforts to promote responsible consumption. “If consumers lose trust in what is meant to be a signifier of doing better, then you risk people not caring at all,” Kent warns. “No one's going to pay more for a product that promises to be more responsible and more ethical when it's when they don't believe that it is.” Additional Resources:‘Ethical’ Cotton Is Being Picked by Child Labourers in India, Watchdog Finds | BoFWhy Can’t Fashion Eliminate Labour Exploitation From Its Supply Chains? | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 25 February 2025

Giles Duley began his photography career at an enviable pinnacle, shooting for GQ and Vogue and even touring with Oasis. Despite this early success, he found himself unfulfilled by the culture and sought a greater sense of purpose. Over time, his lens shifted from backstage glamour to the frontlines of conflict, where he began documenting the impact of war on ordinary lives. A life-altering moment came in Afghanistan when an IED explosion claimed three of his limbs, yet Duley returned to conflict zones with a renewed commitment to capturing stories of love and resilience. “There is a connection from where I started to where I am now which is stories and empathy,” he says. “There’s the story, there’s the storyteller, and then there’s the amplifier. And what brands and individuals can do is be those amplifiers to make sure those stories are heard around the world. … I've realised the way I live my best life is to make sure others are living their best life – and that is my purpose.”  Through his Legacy of War Foundation, Giles demonstrates how creativity and empathy can break down barriers, urging each of us to use our own platforms and talents to enact meaningful change. Key Insights:  Duley documents conflict zones, but he views his work through a radically different lens: “I’m not a war photographer. I photograph love,” he says, highlighting ordinary moments that reveal our shared humanity: “a grandmother brushing her granddaughter’s hair, a mother feeding her baby, a father on the floor doing lessons with his kids.”  Though Duley lost three limbs after stepping on an IED in Afghanistan, he refused to let that trauma define his future. “The next day I woke up and I said, ‘I will never think about the things I can’t do, but I will focus on what I can and I will be the very best at that,’” he recalls, referring to the mantra that has guided him ever since. Duley went on to found an organisation that offers direct support to conflict-affected communities — underscoring his conviction that real change demands both bearing witness and taking action. Duley has faced enormous challenges in conflict zones and through personal injury, but he insists that creativity can outlast even the harshest setbacks. “As creative people, even in ultimate lockdown, we cannot be stopped,” he says. “Trust me, there is no barrier that can stop you … because creativity is greater than anything else.” This mindset, forged in dire circumstances, drives his commitment to show that imagination can break through the boundaries of physical limitations and societal constraints alike. Duley dedicates himself to telling the stories of conflict-affected communities, yet he believes the real impact comes from those who amplify these narratives. “There’s the story, there’s the storyteller, and then there’s the amplifier. What brands and individuals can do is be those amplifiers to make sure those stories are heard around the world,” he says. As for his own driving force, Duley affirms, “The way I live my best life is to make sure others are living their best life. And that is my purpose.” Additional Resources:BoF VOICES 2024: The Power of Purpose  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 21 February 2025

Gucci has long been the shining star of Kering’s luxury portfolio, but the brand's recent struggles have exposed weaknesses in the conglomerate’s position. Gucci’s sales plummeted 24 percent in the fourth quarter of 2024, dragging Kering’s overall performance down by 12 percent. The shock departure of Creative Director Sabato De Sarno after less than two years only deepens the group’s instability. Luxury editor Robert Williams joins executive editor Brian Baskin and senior correspondent Sheena Butler-Young to discuss how Gucci’s downturn is affecting Kering’s broader portfolio, why its attempt at a creative reset didn’t resonate, and what’s next for the group as it searches for a new vision. Key Insights:  Gucci's downturn has been severe, with sales falling by almost a quarter in 2024. This dramatic slide highlights the challenge of reinvigorating the brand. “[Gucci] has had a few really big booms, but then also some pretty big busts afterward. That creates additional complications for the group and how much they're able to invest in acquiring new brands, in developing the brands they have. And honestly, to also just continue to exist,” says Williams. Gucci’s identity has become muddled as it leans too heavily on its heritage, potentially limiting its appeal. “Gucci can stand for a lot of things and I think that's where they got a bit confused. It's the biggest Italian luxury brand and maybe they started to think that it was more of a heritage house than it should be,” Williams explains.  Williams outlines a protective strategy where the group is preemptively selling off valuable real estate. He cites the sale of luxury jewellery house Boucheron headquarters and flagship store on Place Vendôme, stating, "choosing to cash in on the fact that this building is worth a lot of money is a bit worrying that they feel the need to get that treasury right now."  Gucci’s potential for a rapid rebound hinges on securing the right creative leadership to tell a compelling story of the brand and leveraging its extensive assets. “I think real potential for the rebound is there if they can get the right person in place just to tell a very convincing fashion story. It can go very high, very fast again,” Williams says. “They have a lot of real estate, they have a lot of stores in great locations and they have a whole supply chain behind them that's really like rooting for their comeback because it's the biggest client for so many suppliers in the Italian fashion system.”Additional Resources: Can Kering Bounce Back From Its ‘Annus Horribilis’? | BoF The Problems with Gucci and Dior | BoF  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 18 February 2025

In an intimate conversation at BoF VOICES 2024, world-renowned stage designer Es Devlin and writer and cultural curator Ekow Eshun discuss the transformative potential of human connection.  Emerging from a desire to confront her own biases, Devlin’s “Congregation” project invited 50 Londoners from immigrant backgrounds to be drawn and displayed inside St. Mary le Strand church in London. Eshun’s new book, “The Strangers”, likewise interrogates racial identity and belonging through the stories of five Black men spanning centuries and continents. “I'm not the same person at all,” says Devlin, reflecting on her experience. “I'm a bit more raw as a consequence of writing [The Strangers] because … you have to open yourself up to pain and fraughtness,” adds Eshun.  Devlin and Eshun investigate how “otherness” shapes our sense of belonging and argue that true understanding requires a radical willingness to open ourselves to one another — and, in the process, rediscover parts of ourselves. Key Insights:  For Devlin, bridging cultural divides begins with a fearless self-examination: “I wanted to encounter my own racism, my own bias, my own separation.” Considering how certain immigrants are welcomed while others are rejected, she admits, “If it's at work in my community, it must be at work in me. It must be work in my very person. Whether I think it is or not, I must encounter it.” Creative inquiry can be a path to self-discovery. “Almost any creative exercise in the end becomes about one trying to meet what’s inside you," Eshun explains. "It's easy enough to say, 'We're all one interconnected species.' But to do that, you have to put in some work along the way. That work is self-revelatory, but it's also a work of active imagination and broad empathy." For Eshun, genuine unity demands more than rhetoric—it requires a purposeful willingness to understand and embrace our differences. “It's easy enough to say, we're all one people, … but to do that, you have to do some work along the way. That work is a self revelatory work, but it's also a work of active imagination. It's also a work of broad empathy. It's also a presumption of intimacy or connection, which I think is sometimes hard to get to.” Additional Resources:BoF VOICES 2024: Global Culture and Creativity The BoF Podcast | Es Devlin on Collaboration, Creativity and Stage Craft  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 14 February 2025

Estée Lauder was long celebrated as a pioneer in prestige beauty, building a global empire on the strength of family legacy, innovative product lines, smart acquisitions and a high-touch in-store experience. However in recent years, the company has lost its wat on each of those strategies, leaving it poorly equipped to stay on top of rapidly shifting consumer tastes.  In its latest earnings call, new CEO Stéphane de La Faverie candidly acknowledged that the company had “lost its agility,” and promised to quickly implement an ambitious modernisation plan. The Debrief explores how Estée Lauder’s legacy is now proving to be a burden, and how it can still overcome its challenges.  Key Insights:  Holding around 86% of the voting rights, Estée Lauder’s tight family control helped maintain a tight focus on prestige beauty, but has contributed to a risk-averse culture that caused the company to miss out on important trends. “A lot of their beliefs are around beauty being a prestige category and a prestige experience and that being the way to win,” says Morosini. “That message in the wider beauty consumer base has been diluted a little bit. People are much more open to shopping for products in different ways and from different kinds of founders. They didn't really let go of their values.”  Estée Lauder also made a big bet on China, at one point deriving 25 percent of its sales from the market. However, when demand cooled post-COVID, it exposed weaknesses in its home market strategy. "Not only did the China business really, really sharply decline, but when the Chinese market took a really big hit, it exposed just how much they had neglected their home market of the US and just how much market share they had ceded without anyone really realising,” says Morosini. The company’s new CEO, Stéphane de La Faverie, is spearheading a major strategic overhaul with his "Beauty Reimagined" plan. This vision aims to reinvigorate the brand by streamlining the corporate structure, tripling the pace of innovation, and placing an obsessive focus on the consumer. "They've created more of a skincare brand cluster, a makeup brand cluster, and they've also really simplified the geographic way that they're dividing up the markets and who's overseeing them. I think that could lead to greater agility and better sort of more targeted marketing for each region," says Morosini. Estée Lauder’s model of fuelling growth through brand acquisitions is increasingly unsustainable in today’s volatile market. The company's ability to innovate and adapt has been hampered by heightened domestic competition and an unpredictable economic climate. "I think as time has gone on, it's just got harder and harder because the competition, especially in the US in their domestic market has really, really ramped up. And they don't seem able to accurately forecast what's gonna happen next,” says Morosini. “It's really hard to convince people that something that's been around for a long time is actually cool." Additional Resources:Estée Lauder Knows How to Cut Costs. Can It Also Rebuild Growth? A First-Day Agenda for Estée Lauder’s New CEO Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 11 February 2025

“Will India be the next China?” is a question that’s circulated throughout the fashion industry for years. Even as its population and economy both surge, India’s cultural tapestry and fragmented retail landscape set it apart from its northern neighbour. At BoF VOICES 2024, Ravi Thakran drew on his experiences pioneering luxury growth for Swatch in 1990s China and leadership of LVMH in Asia to share his unique insights on the many differences between the world’s two most populous countries, and why European luxury brands have not yet managed to really crack the Indian market. “India is now across China and growing faster. But when it comes to the luxury market — talk of any brand, be it Mercedes-Benz, BMW, Louis Vuitton, Cartier — India is less than 1%,” says Thakran. “India's stupendous growth is right in front of us, but the bulk of that growth is led by a very young population with a very low per capita income. So if you are an aspirational player, go to India today. This will be your biggest play going forward. In luxury, you still have to work.” Thakran unpacks the dynamics of economic growth in India, explains why its path won’t mirror China’s, and shares insights on how to succeed in one of the world’s most complex yet promising markets. Key Insights:  From garments to accessories, Asia has scaled production to supply most of the global market. Simultaneously, it’s also the top consumer region for many categories, making Asia pivotal in both supply and demand equations. Despite this, its share of value in these categories remains low: “Asia is now the largest market of the world and across [garments, accessories and watches], more than 50%. … How come its share of value in these categories is so low?” queries Thakran. “Value resides in brands. And where do these brands live? The brands today for these categories are still in Europe and the USA.”  While India’s market is huge, it is fragmented and complex. Challenges for fashion brands include high import duties, limited retail infrastructure and a deeply rooted tradition of local attire. Western brands need to adapt to India’s cultural context if they hope to gain traction. “LVMH is not a luxury enough for India. … Indian luxury will always remain very Indian. Unless you Indianise, you're unlikely to crack that market,” says Thakran.  Drawing on teachings from Buddah and Gandhi, Ravi underscores that Asia’s rising wealth need not translate into mindless consumption. Gandhi’s simple lifestyle and the Buddha’s teachings on desires offer a philosophical counterbalance that resonates in today’s sustainability-conscious world. “While we are trying to make India adapt to the West, I think there is a message for the West to adopt from India," says Thakran. Additional Resources:BoF VOICES 2024: Fashion’s Next Moves Where Fashion Is Finding Growth in Asia as China Stalls | BoF Luxury’s China Priorities in the Year of the Snake | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 7 February 2025

After a prolonged slowdown, fashion’s M&A market is springing back to life. A combination of falling interest rates, shifting investor sentiment and optimism around economic policy has fuelled a wave of early 2025 deals. Within the first few weeks of the year, brands like True Religion and Kapital were acquired by private equity firms and holding companies, signalling renewed confidence in fashion investments. However, not all acquisitions are about aggressive growth. Some buyers specialise in “managed decline,” acquiring struggling brands to extend their lifespan through licensing or cost-cutting. Others, including private equity firms and strategic buyers, see opportunities to scale promising brands by injecting capital and expertise. “The key for a lot of these companies in finding buyers is proving that their brands are still worth it and can weather these economic cycles and lulls in the market,” shared e-commerce correspondent Malique Morris.  Executive editor Brian Baskin and senior correspondent Sheena Butler-Young sat down with Morris to break down the latest deals, the brands poised for sale, and what it all means for fashion in 2025 and beyond. Key Insights:  A number of converging factors are driving a new wave of fashion mergers and acquisitions in 2025. Falling interest rates, Trump’s re-election driving investor optimism, and shifting regulations have all played a part in fuelling new acquisitions. “Retailers reported strong holiday sales in 2024, and even though much of that was driven by discounting, it signalled that consumers were still spending,” says Morris. “That kind of activity gives investors more confidence in backing fashion businesses.” Buyers are looking for brands with strong customer loyalty, an engaged audience, and clear growth potential that can weather the ebb and flow of the market. Brands need “good stewards to help them find the best resources to expand without hurting their legacy, whether that be money, retail networks, or supplier relationships,” explains Morris. “It's important to have the resources you need to maintain relevance and compete for consumer attention.” Beauty remains a hotbed for M&A activity. “Unlike fashion, beauty hasn’t faced the same investor hesitancy,” says Morris. “Brands like Merit, Westman Atelier, and Makeup by Mario are seen as prime acquisition targets, while Rare Beauty could be the defining beauty deal of the decade.” Overall, buyers are prioritising brands with strong customer loyalty and cultural relevance. “They're seeking brands with ample customer loyalty and a passionate consumer base that will keep their names in the public consciousness, irrespective of what recent sales growth will look like,” says Morris. He adds, “The thing that is top of mind is, what is the value of your brand? That’s an honest conversation that I’m not sure all companies have with themselves, let alone with buyers.” Additional Resources:What’s Behind the 2025 M&A Wave | BoF Fashion’s Most Anticipated M&A Hot Spots in 2025 | BoF Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 4 February 2025

In a special episode, BoF founder and editor-in-chief Imran Amed joins Bob Safian on The Rapid Response podcast. “This is probably the most severe crisis that I've seen in the luxury side of the fashion industry since the Great Recession of 2008,” says Amed. “The business model and approach that the luxury industry has been using for the last decade or so is running out of steam.” In their conversation, Amed and Safian discuss the cracks in the current luxury formula,  the untapped potential in older demographics, and how brand and product innovation have the potential to revive the sector.  Key Insights:  Amed warns that the go-to strategies for luxury brands, such as over-expansion and relentless price hikes, are no longer sustainable. He highlights how the slowdown in Chinese consumer spending and a sharp drop in aspirational buyers who “gorged on luxury products during the pandemic” are exposing the cracks in this long-established playbook. While the industry has long speculated on whether India might be ‘the next China,’ Amed believes real growth is finally within reach. Thanks to a flourishing middle class, improved retail infrastructure and widespread mobile internet, international brands are eyeing India’s vast consumer base with renewed interest. However, success demands culturally informed approaches: “The smart brands are going to really find the right talent, Indian local talent, and empower those leaders,” says Amed. “The Indian market is on the precipice of something really big but it’s not going to be easy.” Amed acknowledges the widespread but often discreet adoption of artificial intelligence: “I think as with a lot of things AI, everybody’s using it, but not everyone’s talking about how they’re using it,” he said. However, he cautions that “to create something really, genuinely novel, interesting, disruptive, creative, and beautiful, a human has to be involved,” reminding brands that while AI can accelerate ideation, authentic creative vision remains the domain of designers themselves. Amed believes the current turbulence will drive fashion leaders to rethink their strategies: “What’s exciting about a time like this is it forces companies to innovate because the market isn’t growing super fast anymore,” he said. He explains that to thrive under tougher conditions, businesses “have to take market share from someone else,” meaning it is no longer enough to repackage old ideas. Pointing to brands like Miu Miu and Brunello Cucinelli, which are still achieving significant growth, Amed sees promise in those who offer “something different and special,” rather than relying on the template approach that has dominated fashion in recent years. Additional Resources:The State of Fashion: Luxury | BoFLuxury Slowdown Could Last Longer Than Previous Crises, Chanel Watches and Jewellery President WarnsThe BoF Podcast | The Great Luxury E-Commerce Reckoning  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 31 January 2025

The fashion workplace is evolving, shaped by a wave of technological advancements, leadership changes, and cultural dynamics. For many employees, adapting to these changes has become a challenge, while employers must navigate how to foster connection, retain talent, and drive innovation. Executive editor Brian Baskin sits with commercial features editorial director Sophie Soar and senior correspondent Sheena Butler-Young to unpack how businesses can create thriving workplaces in 2025, the role of soft skills in a tech-driven era, and what it takes to re-engage an increasingly disconnected workforce. “In the face of AI and more technology coming in, it is more important to have a human element. What does a human do well? That’s why soft skills are a huge focus,” says Butler-Young. Meanwhile, Soar highlights the growing challenges of employee disengagement, stating, “We are incredibly disengaged as a workforce. Trying to get employees to buy back into what they’re doing and be part of the workplace is going to be really challenging.” Key Insights: The turnover of leadership in fashion is reshaping workplace dynamics. “New leadership means change, even if they're using the same playbook,” explains Butler-Young. “Having someone new at the top of your company tends to affect morale for better or worse, or just makes people feel uncertain.” She adds, “Fashion workplaces are in this perpetual transition this year, which will inevitably shape culture.” In the wake of President Donald Trump’s executive orders targeting corporate DEI programmes, successful DEI strategies in 2025 will integrate horizontally across all business functions, rather than thinking about it as a vertical. “If something is horizontally integrated across the business and is a fundamental aspect of every single core pillar that this business touches upon, it's harder to roll back on those initiatives as a result,” says Soar. Butler-Young adds, “If you as a leader of any kind of organisation appear to flip-flop on your values based on the way the political winds blow, I think that's going to have a harmful effect on your workplace in the long term.” As AI becomes more prevalent, employers are placing greater emphasis on human-centric skills. “In the face of AI and more technology coming in, it is more important to have a human element to it. What does a human do really well? That’s why soft skills are a huge focus,” says Butler-Young. Soar adds, “It’s about engaging a workforce who are constantly striving to think about how they can take this particular tool or opportunity to the next stage and do so with that can-do, positive approach and attitude.” The impact of the attention economy has spread into our work lives. “We are incredibly disengaged as a workforce,” says Soar. “Trying to get employees to buy back into what it is that they're doing and be a part of the workplace is going to be really challenging, especially as they're navigating a hybrid or remote working environment.” Employers, Soar argues, need to address this to optimise their workforce for the future: “It is fundamentally changing the way that we are operating as people as well as employees.” Additional Resources:How to Future-Proof Your Fashion Career in 2025From Trump to Gen-Z, Fashion Faces a Culture QuakeBoF Careers Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 28 January 2025

Tim Gunn is best known as the wise, empathetic mentor on television’s Project Runway, but before he found himself guiding the next generation of designers on screen, he spent time teaching and shaping the fashion curriculum at Parsons, where he helped nurture some of the most influential names in American fashion. His journey began in Washington, D.C., where early struggles with bullying and a desire to understand his own creativity led him toward mentoring and educating others. Now, as the industry grapples with change on multiple fronts, Gunn offers his unique perspective on what it really takes to succeed today — in life and in fashion.   “Life is a huge collaboration. We need other people. We’re not intended to be solos. And no one should think, ‘I can deal with this and solve this myself,’” says Gunn. This week on The BoF Podcast, Gunn opens up about how his early trials shaped his remarkable career, why he left his art practice behind to focus on teaching and mentorship, and how he sees the future of American fashion. Key Insights:  A graduate of the Corcoran College of Art and Design, Gunn once dreamed of being a painter or sculptor, but after just a few years in the classroom, he realised guiding students gave him more satisfaction than making his own work. “After two years of teaching, I thought, ‘I feel so fulfilled and so sated through the teaching process, I don’t need to make the work,’” Gunn says . “This is what I love doing and I’m just going to keep doing it.” During his tenure at Parsons, Gunn served as both a teacher and an administrator — eventually rising to Associate Dean — and was tasked with revitalising the school’s struggling fashion program. “The curriculum had not changed since 1952,” he recalls. “No computers, no fashion history... I was completely and totally horrified.” Determined to better prepare students for the realities of the industry, Gunn helped introduce new business training, creative independence, and a broader perspective on design. “The former curriculum was all about being totally and wholly dependent upon the faculty. You couldn’t do anything without faculty approval. And I thought, ‘These students are incredibly talented and bright. We need to let them fly and see where it takes them.’” The producers of Project Runway learned about Tim Gunn from industry insiders who pointed to his transformational work at Parsons. Gunn initially resisted the idea of reality TV, but curiosity won out, and his background as an educator shaped his signature style of mentorship on the show.  Gunn believes emerging designers need more real-world business training, collaboration partners and a firm grasp of their own creative DNA to survive. “If you insist upon making every garment yourself, just be resigned to having a little boutique and not making any money. If you really want something big, you’re gonna have to let go and you’re gonna have to collaborate with a lot of people,” Gunn advises. “Any one of us, either individually or collectively, can only be as successful as our ambitions and our resources allow us to be.” Additional Resources:Television's Power to Launch Fashion Brands Remains Unproven | BoFHow Independent Brands Can Thrive in a Fashion World Ruled by Giants  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 24 January 2025

Brand collaborations were once rare, highly anticipated events that generated significant buzz. But as they have become more frequent, the challenge lies in creating partnerships that genuinely resonate with consumers and cut through the noise. This week, executive editor Brian Baskin and senior correspondent Sheena Butler-Young sit down with BoF correspondent Lei Takanashi and editorial fellow Julia Lebossé to explore the state of brand collaborations, what makes them succeed or fail, and where they’re headed next. To work, collaborations need to feel authentic. For brands, “letting their collaborators take the wheel and just do what they want to do is really key,” says Takanashi. “When brands collaborate successfully, it’s often because they give creative freedom to the collaborator, allowing them to use the materials they want and tell a story that feels true to their audience,” adds Lebossé. Key Insights:  Poorly thought-out collaborations often fail to connect with audiences and just won’t cut it anymore. “When it's done lazily, consumers can tell”, explains Lebossé. “We're becoming much smarter, really looking into brands and what they're doing and what makes sense. … That's why brands really have to step up in terms of what they're doing.” It’s not just big brands that can make waves with collaborations. Lebossé pointed to a sneaker collaboration between Bimma Williams and Saucony as an example where a smaller brand excelled. “They’re showing that, hey, we can do innovation,” explains Lebossé. Brands are finding even greater value in creating physical experiences around collaborations. Takanashi points to the Corteiz x Nike collaboration, where prospective buyers participated in scavenger hunts to buy the shoes. “If someone told me that kids would be lining up to buy Huaraches in 2025, I would not believe them at all,” he says. “But that’s the thing. This brand got kids waiting for hours in the freezing cold to buy their sneakers. It’s really that IRL experience that consumers are looking for when it comes to releases these days.” Additional Resources:Why Fashion Needs the Art World More Than Ever | BoFWhy Are Sneaker Collaborations So Boring? Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 21 January 2025

In today’s fashion landscape, many of us find ourselves caught in an infinite scroll of influencers. But in 2024, one couple captured the internet’s attention like no other: Lucky Blue Smith and Nara Smith. From making cereal from scratch to becoming one of fashion’s most sought-after duos, their rise has sparked both praise and criticism. For millions of people following online, their content offers a glimpse of domestic bliss and authenticity; for others, it raises eyebrows, stoking wild conspiracy theories. As a result, the young couple has found themselves in the glare of the social media spotlight. And as the Smiths revealed at BoF VOICES 2024, they’ve come to learn that not everyone will understand who they really are. “It’s the internet. You can’t believe everything you hear and see,” Lucky says. “People really see through all the fakeness. And if you're really authentic, then that's really compelling to a lot of people,” adds Nara.  Key Insights:  Lucky Blue Smith rose to fame at an extraordinarily young age. At 16, he became the male model of the moment with covers of major magazines and appearances on runways around the world. Reflecting on the challenges of early fame, he shares, “When you go through a big viral moment and you’re all over social media, you can kind of become, in a way, self-conscious … But meeting [Nara], it was like I felt like I could be my true self for the first time in a while in front of someone.” For Lucky, learning to navigate online scrutiny has been crucial. “It’s the internet. You can’t believe everything you hear and see … You just have to try to focus on the positive and move forward.” Nara Smith underscores the importance of authenticity in connecting with her audience. “As long as you’re authentic to yourself and you’re living your best life and not being fake, that’s kind of how you can get to a point where you might be a really successful influencer,” she says. “People really see through all the fakeness.” As an influencer, she said she credits honesty and transparency as key to her success in the creator economy. Despite the perfect-looking presentation in her videos, Nara Smith shares the often unseen effort and dedication required to succeed in the creator economy, challenging assumptions that content creation is easy or low-effort. “What you’re seeing on the screen is a minute and 30 seconds. But I’m in my kitchen seven hours a day cooking and then putting my kids to bed and then editing for another two hours. And that’s every single day. I don’t take days off,” she reveals.  Reflecting on the evolving nature of personal growth and success, Lucky Blue Smith believes that living your best life is an ever-evolving journey. "I don’t think you’re ever going to land somewhere and say, ‘Yes, this is my best life.’ You always want to level up and move forward and challenge yourself,” he shares. His perspective highlights the importance of continuous growth and self-improvement, even amidst the pressures of fame and notoriety. Additional Resources:BoF VOICES 2024: The Power of Purpose BoF VOICES 2024 Concludes With Gala Celebration Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 17 January 2025