If you don’t already subscribe to FashionREDEF, and Adam Wray’s witty commentary that comes atop its newsletter everyday, you absolutely must.
On news that Francois-Henri Pinault, CEO of Gucci-owner Kering, poo-pooed the see-now, buy-now model because “waiting creates desire”, Wray responded that desire follows from waiting for lunch, or a long-distance relationship, and not in the same way for luxury goods. “Desirable products create desire. Effective marketing creates desire,” he wrote.
“If you build a consistent, legible, aspirational brand image, you don’t need a six month media blitz to warm consumers up to a new collection – they already know what they’re buying into. If Saint Laurent – a Kering brand – hit the runway and the shop racks simultaneously, it would sell briskly, and Pinault knows it. His comments indicate a cautious approach to a complex, risky restructuring more than philosophical position,” Wray continued.
He ended on the idea of Pinault wanting to learn from others’ mistakes, a move all too evident from the luxury industry’s initial lack of willingness to embrace all the challenges (and opportunities) the digital era has brought. I have consistently heard – even with every new social media platform – the desire to first know which competitors are already on board before many of them have also opted to take the leap. It comes as no great shock that Burberry was one of the first major players to announce its move to an in-season consumer calendar; it has long been the first on all of these fronts, from its early uptake of all things digital, to its more agile supply chain system influenced heavily by CRM data.
Unsurprisingly over in Paris however, Pinault is not the only one thinking otherwise. The Fédération Française de la Couture du Prêt-à-Porter des Couturiers et des Créateurs de Mode is sticking by its guns and will shun the consumer-show shift too, reports WWD.
“As far as we are concerned, the present system is still valid,” said federation president Ralph Toledano.
He previously commented: “The fashion industry is a huge success, our companies are growing very healthily and business is excellent… We are not going to be ruled by technology.” Indeed, let’s not forget that for many brands in Paris, while technology is surely a consideration, such steps into embracing digital have, to this day, still fallen short of actually launching e-commerce; and this is in spite of the fact we know that digital today now influences 60% of all luxury purchases.
The thinking around whether or not to adapt Paris Fashion Week was also taken to a board of broader industry players off the back of the CFDA’s announcement in the US that it had hired the Boston Consulting Group to look into whether to make New York Fashion Week a consumer-facing affair. They included Dior CEO Sidney Toledano, Chanel’s president of fashion Bruno Pavlovsky, Saint Laurent CEO Francesca Bellettini, and Hermès executive vice president of manufacturing division and equity investments Guillaume de Seynes.
Sticking with the status quo is now also being backed by brands including Nina Ricci, Chloé, Agnes b., Issey Miyake, Isabel Marant, Balenciaga, Lanvin, Sonia Rykiel, Leonard, Dries Van Noten, Maison Margiela, Paul Smith and Kenzo.
To be fair, Ralph Toledano does go on to list a multitude of reasons why such moves are so complicated (understandably), and thus at this stage deemed unnecessary – from managing the supply chain and its purposeful scheduling, to balancing embargoes with press and buyers (although that latter part seems very do-able frankly, especially if they’re used to it in other cities).
There is no one-size fits all solution, that’s for sure. And truthfully I stand by my earlier thoughts that the industry is ripe for division into new categories, rather than all of ready-to-wear being lumped into one, as those more agile shift to a more “mass luxury” appeal.
But, it must be said, and as Wray essentially pointed out, this does also feel somewhat like another case of Paris lagging behind its counterparts, as it has done with so much of digital. The issue is, the case of waiting for the right “me-too” moment may at some point finally catch up with some of these brands.