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    Arts

    The Business of Fashion Podcast

    The Business of Fashion has gained a global following as an essential daily resource for fashion creatives, executives and entrepreneurs in over 200 countries. It is frequently described as “indispensable,” “required reading” and “an addiction.”


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    Latest Episodes:
    Casablanca’s Charaf Tajer on Designing for Impossible Possibilities Sep 09, 2022
    Show notes

    The designer speaks with BoF’s founder and editor-in-chief Imran Amed about building his own business, the power of aspiration and opening doors for people who want to break into fashion.

    Background:

    French-Moroccan designer Charaf Tajer is the French-Moroccan designer behind Casablanca, a business that he started with only €3,000 to tap into the growing demand for women’s resortwear, and which is now doing more than €45 million in annual revenue.

    But Charaf’s rise in the Parisian fashion scene is also exceptional because of who Charaf is and where he is from. As one of the few people of colour working at the very top level of French luxury fashion, he has learned that no matter how high his star rises, he still faces discrimination related to his identity as he travels in these elite spaces. This only makes him want to work harder to break down barriers and become a role model.

    On the latest episode of the BoF Podcast, designer Tajer joins BoF’s Imran Amed on The BoF Podcast to talk about building his own business, the power of aspiration and opening doors for people who want to break into fashion.

    Key Insights:

    • Growing up in the outskirts of Paris, Tajer had an early appreciation for luxury, getting glimpses of wealth going with his mother to work as a cleaner in the 16th arrondissement. He channelled this sense of curiosity into the core of Casablanca and believes it lies in the industry itself. “I think this is what fashion does, is like it opens a certain option of dreaming of certain things,” says Tajer.
    • Tajer believes you must go outside of your comfort zone and explore new paths to achieve success. “There is nothing for you in the past, so you have to go to the future because when you look back, there’s nothing for you… There was no space for me to grow.”
    • Tajer’s background has at times led him to feel like a fashion outsider. That feeling inspired him to want to become a role model for others. “Beside the fact that I’m a North African Muslim guy, I also just want to represent the new face of France,” says Tajer. “It’s my duty to also accomplish the biggest thing in the world, to become an example.”
    • While entering the world of fashion, Tajer is careful to open doors for others and leave behind a legacy that any achievement is possible with effort. “For me I only want to go for the impossible possibilities,” Tajer says.

    Additional Resources:

    • Fashion’s Top M&A Targets: The market may be cooling, but a number of in-demand brands remain of interest to financial backers. BoF identifies the top targets.
    • Can Fashion Start-Ups Cash In on the Tennis Boom? For a new wave of tennis-inflected fashion start-ups, success may depend on balancing the energy of the sport’s increasingly inclusive present with the allure of its exclusive past.

    Hosted on Acast. See acast.com/privacy for more information.


    Rick Owens on Lessons Learned from the Pandemic Sep 02, 2022
    Show notes

    The designer speaks with BoF editor-at-large Tim Blanks about his first collection after 2020 and why he feels a sense of optimism following the pandemic.

    Background:

    At the start of 2021, Rick Owens wanted his next show to reflect the universal toll the pandemic had taken on the world. Held at Venice’s Tempio Votivo, a shrine to the fallen soldiers of the two world wars, Owens centred the show around the sombre themes of “anger and darkness.” Despite this ominous outlook, Owens told BoF editor-at-large Tim Blanks in January 2021 that a pivot in political circumstances with the inauguration of Joe Biden gave him a sense of optimism.

    On this week’s episode of the BoF Podcast, we revisit this thought provoking conversation with Owens about his Autumn/Winter 2021 collection, his reflections on lessons learned from the pandemic and his renewed hope for society.

    Key Insights:

    • For Owens, constraints can create fertile ground for creativity. “It has been quiet change and I like the idea of working within small boundaries,” says Owen. “I like the idea of doing the best with what you have got.”
    • Owens created his collection when the world was facing growing political uncertainty and instability but he says “one of the most reassuring things [in this world] is that everything usually balances out. We have survived this long because there is just a tiny bit more of goodness than badness. Just enough to keep us surviving.”
    • Owen’s men’s shows in particular are deeply personal. “My men’s runway shows are always about men’s flaws and men’s worst urges because they are auto-biographical,” he says. “When I am thinking about men I am thinking about my own experience and my own experience is very critical and I am always very conscious of my worst urges and where they are coming from.”

    Additional Resources:

    • Rick Owens: Control and Abandon
    • Tim Blanks’ Top Fashion Shows of All-Time: Rick Owens Spring/Summer 2014, September 26, 2013
    • What Fashion Wants From a Biden Presidency

    Hosted on Acast. See acast.com/privacy for more information.


    Inside Yohji Yamamoto’s Fashion Philosophy Aug 26, 2022
    Show notes

    In a rare interview, the influential Japanese designer speaks with BoF’s Imran Amed about the philosophy that underpins his boundary-breaking career.

    Background:

    After graduating from Keio University with a law degree, Yohji Yamamoto realised he wasn’t interested in the law.

    “I didn’t want to join the ordinary society,” he says. “So I told my mother after graduation … ‘I want to help you.’”

    She agreed to let him work at her dressmaking shop in Kabukicho, an entertainment district in Tokyo’s Shinjuku ward, and learn from the sewing assistants if he enrolled at Bunka Fashion College, now famous for training designers such as Kenzo Takada, Junya Watanabe and Yamamoto himself.

    After graduating, Yamamoto went on to set up a small ready-to-wear company that slowly acquired buyers in all of Japan’s major cities. This success eventually led him to Paris, where his signature tailoring and draping in oversized silhouettes created an aesthetic earthquake at Paris Fashion Week in 1981.

    Since then, Yamamoto has developed a cult following of loyalists who swear by his avant-garde designs. “I’m not working in the mainstream,” he says. “I’m working in the side stream.”

    This week on The BoF Podcast, we revisit Imran Amed’s rare interview with the legendary Japanese designer about his storied career — and the mindset designers need to succeed.

    Key Insights:

    • Yamamoto says the fashion industry’s increasingly fast-pace has come at the expense of true creativity. “For me the fashion business became a money business,” he said. “I felt I’ve been losing my competitors year by year.”
    • Yamamoto believes that modern technology can be a distraction. “When I speak with young designers, I [tell] them shut your computer,” he said. “If you really want to see real things, real beauty, you have to go there by walking.”
    • Yamamoto believes it’s a designer’s job to completely immerse themselves in design. “If you want to create something, keep resisting the mediocracy of ordinary things. It’s a life's work. Are you ready to sacrifice yourself to create something?”

    Additional Resources:

    • Watch the full interview here: Inside Yohji Yamamoto’s Fashion Philosophy
    • The Magic of Yohji Yamamoto

    Hosted on Acast. See acast.com/privacy for more information.


    The Debrief: Department Stores Make a Comeback Aug 18, 2022
    Show notes

    After a pandemic pivot to e-commerce, many brands are back to working with third-party retailers, this time, with better terms.

    Background:

    The wholesale model, while offering exposure and some upfront revenue, did not always have the best terms for vendors. Department store bankruptcies, pandemic-induced store closures and the boom in online shopping pushed brands further towards their direct-to-consumer and e-commerce businesses to drive revenue.

    But that’s beginning to change. As shoppers return to stores, brands are seeing value in ramping up their partnerships with multi-brand retailers — this time on better terms. “What I'm hearing across the board from both brands and retailers is that this vendor-retailer relationship is more collaborative than ever,” said BoF retail correspondent Cathaleen Chen.

    Key Insights:

    • There are multiple factors pushing brands back to wholesale. Among them, the growth of e-commerce, which has slowed after spiking in 2020, and the growing consumer appetite for curated, in-person shopping experiences that allow them to stumble upon new designers. “That discovery is still so important, and now [shoppers are] relying on a cool third-party retailer to sort of facilitate that discovery,” said Chen.
    • “Wholesale is very American,” noted Chen, making it an attractive vehicle for international labels looking to enter the lucrative US market.
    • Brands are having more of a say over how their products are marketed through retailers, like sharing campaign assets or designing shop-in-shop setups.
    • Both parties are also increasingly open to exploring other models like concession, consignment — more typical to European department stores — and drop-shipping, where the brands themselves are responsible for fulfilling orders made through retailer’s websites.
    • Brands are returning to wholesale, but not at the expense of their direct-to-consumer and retail offerings. “I think we're at a point where everybody has a more well-rounded business so that if things do go bad again in whichever channel, they can be agile and adapt very quickly,” said Chen.
    Additional resources:
    • How to Take a Brand From Local to Global | BoF
    • Searching for the Next Barneys
    • Inside Neiman Marcus' Post-Bankruptcy Playbook

    Follow The Debrief wherever you listen to podcasts.

    To subscribe to the BoF Podcast, please follow this link.

    Hosted on Acast. See acast.com/privacy for more information.


    Serena Williams: "Pressure is a Privilege" Aug 12, 2022
    Show notes

    Revisiting a conversation with BoF’s Imran Amed from 2019, the 23 grand slam winning tennis champion, who announced her retirement this week, talks about how the mental toughness she has built on the court has prepared her for life as an entrepreneur.

    Background:

    This week, tennis superstar Serena Williams announced her imminent retirement as part of a cover story with American Vogue. Known in fashion circles for her on-court style, which included catsuits and denim skirts and a collaboration with late designer Virgil Abloh’s Off-White, Williams will have more time to focus on as her burgeoning business empire, including her fashion label S by Serena and a venture fund, Serena Ventures.

    This week on The BoF Podcast, we revisit Williams’ 2019 conversation with BoF founder and editor-in-chief Imran Amed about how the mental toughness she has built on the court has prepared her for life as an entrepreneur.

    “It's really important for things not to come super easy for you, and to kind of accept that challenge, embrace it and then just roll with it,” said Williams.

    Key Insights:

    • Rather than work with a partner, licence her name or sign another lucrative endorsement, Williams felt it was important to invest time, money and effort in herself and chase her own vision with S by Serena, a direct-to-consumer brand she has funded independently.
    • Serena Ventures just raised $111 million and has invested in over 60 companies including personal care brand Lola, supply chain management firm Calico and razor-maker Billie.
    • The fund was originally founded in 2014 when Williams noticed people of colour and women were not getting the investments they needed.
    • Balancing all her pursuits and personal life can be tough. But, when she feels pinched, William is reminded of one of her favourite quotes from Billie Jean King: “pressure is a privilege.”

    Additional Resources:

    • Serena Williams: The Champion’s Mindset
    • Serena Williams, Style Icon, Retiring From Tennis
    • How Athletes Went From Selling Merch to Building Fashion Brands

    Hosted on Acast. See acast.com/privacy for more information.


    Tracee Ellis Ross on Killing Perfectionism and Finding Self-Love Aug 05, 2022
    Show notes

    The multi-tasking actor, executive producer and beauty entrepreneur shares her personal journey with BoF’s Imran Amed and explains how she unlocked her full potential across a variety of pursuits.

    Background:

    Tracee Ellis Ross is best known for her roles in Girlfriends and Black-ish, but she is also the founder and CEO of Pattern which she launched in 2019 after more than a decade of development to address the gap in the market for products designed specifically for curly, coily, textured hair.

    The Golden Globe-winning, Emmy-nominated Ross joins BoF’s Imran Amed on The BoF Podcast to talk about managing the little voice in her head, killing perfectionism and cultivating self-love and acceptance.

    Finding purpose and unlocking potential starts by interrogating what you love, then finding ways to merge who you are with “what makes your heart sing,” said Ross.

    Key Insights:

    • Pattern was born out of frustration. Ross couldn’t find the right tools or products to serve her needs, and never saw Black women being centred — despite sitting at the centre of culture.
    • Ross took learnings from developing a clothing line with JCPenney to help get her business off the ground. From there, she sought out the right partners. Key to evaluating partners was learning to be present during conversation.
    • In her work with Pattern and with companies like Ulta on diversity and inclusion, Ross hopes to dissolve the myth that Black hair care and beauty is a niche market.

    Additional Resources:

    • Modernising the Black Hair Care Market: A new wave of start-ups shaking up the textured hair care space are catching the attention of major retailers and investors, grabbing more shelf space and venture capital.
    • Building the Glossier of the Black Hair Market: With her new DTC beauty brand, Radswan, blogger-turned-entrepreneur Freddie Harrel is pitching clip-in textured hair extensions and wigs to the digitally savvy black consumer.

    To subscribe to the BoF Podcast, please follow this link.

    Hosted on Acast. See acast.com/privacy for more information.


    Ommy Akhe on How Augmented Reality Could Transform Fashion Jul 29, 2022
    Show notes

    The creative technologist believes that experimenting with new AR technologies could radically reshape products, experiences and habits.

    Background:

    When it comes to testing new technologies, there is always an element of the unknown for brands. While tech investments may not immediately translate to a revenue bump, willingness to experiment could radically transform the fashion industry, according to Ommy Akhe, a creative technologist specialising in experimental software and augmented reality prototypes, who spoke at The BoF Professional Summit: New Frontiers in Fashion and Technology.

    “Understanding your customers, the things they value, the challenges you can help them overcome and what gets them excited — it's essential to meet users where they are,” says Ahke. “The only constant is change. So why not join the journey and start enjoying the current future?”

    • Consumers today are younger, spend more time online and are used to valuing arbitrary digital assets like follower counts and verified check marks. This means they are also more apt to spend money on digital items that hold value in the real world.
    • The tools that will build the metaverse — including 5G, artificial intelligence and virtual reality, for example — are well established and consumers are used to interacting with them.
    • Ahke’s digital skins projects overlay dynamic imagery on bags, clothes and shoes through a phone lens. Brands can implement this sort of technology to drive loyalty and give buyers more avenues for expression.

    Additional Resources:

    • How the Smart Money in Fashion Is Thinking About Web3. Investors with track records of predicting where fashion is headed have their own ideas of where the big opportunities lie in web3.
    • Fashion’s Metaverse Reality Check. The marketing value of digital fashion and NFTs may now be clear, but fashion brands will need to separate hype from the concrete opportunities to generate sustainable revenue streams from the metaverse.
    • The Debrief: Who Is Designing Fashion in the Metaverse? BoF’s Marc Bain chats with Lauren Sherman about the 3D creators, game designers and NFT experts bringing fashion into the virtual world

    To subscribe to the BoF Podcast, please follow this link.

    Hosted on Acast. See acast.com/privacy for more information.


    The Debrief: Why Chanel Is Opening Private Boutiques Jul 22, 2022
    Show notes

    BoF’s luxury editor Robert Williams offers insight into the surprising news that the mega-label plans to open stores dedicated to serving top customers.

    Background:

    As traffic to stores soars, Chanel’s chief financial officer Philippe Blondiaux said the brand plans to open dedicated boutiques for top-spending clients starting in key Asian cities. It's a strategy that emphasises the importance of big-spenders to the in-demand French luxury brand’s future amid whispers of an impending recession — but one that risks alienating first time and occasional shoppers who are still dropping upwards of $10,000 for bags.

    “Brands like Chanel, they’ve lived through lots of cycles of boom and bust in the economy… When there’s an economic crisis, they need to be ready to have a real focus on repeat business,” said BoF’s luxury editor Robert Williams.

    Key Insights:

    • Chanel sells many items in-store only, and limits locations to the most luxurious places in the world’s most luxury cities — operating just around 250 stores compared with Louis Vuitton’s over 400 doors.
    • Chanel is not the first brand to open special stores for private clients; Brunello Cucinelli deployed a similar concept last December. Other brands like Zegna have dedicated spaces in-store for special items.
    • In 2021, the company’s profits have tripled and revenue jumped 50 percent year over year.
    • The brand’s growth in fashion, watches and jewellery last year was driven by its decision to raise prices and a flood of new clients and first-time buyers to luxury.
    • In addition to focusing on its physical footprint, Chanel is pushing its beauty business, which has been historically driven by department stores and beauty retailers like Sephora and Marionnaud, toward majority direct-to-consumer.

    Additional Resources:

    • Chanel to Open Private Stores for Top Clients as Sales Soar 50%
    • How Luxury Brands Court the 1 Percent

    Follow The Debrief wherever you listen to podcasts.

    Join BoF Professional today with our exclusive podcast listener discount of 25% off an annual membership, follow the link here and enter the coupon code ‘debrief’ at checkout.

    Want more from The Business of Fashion? Subscribe to our daily newsletter here.

    Hosted on Acast. See acast.com/privacy for more information.


    Ross Bailey on Building a Business From Humble Beginnings Jul 15, 2022
    Show notes

    The founder and CEO of retail pop-up marketplace Appear Here shares his entrepreneurial journey and advice for young founders looking to break through.

    Background:

    Ross Bailey’s love of entrepreneurship didn’t start in business school or a corporate job, but at the hair salon his parents owned in London.

    “I watched my parents take this little shop and it became their livelihood,” he says to BoF’s founder and editor in chief, Imran Amed, describing himself as a “busybody” who rearranged furniture and conducted customer satisfaction surveys from a young age. “To me, entrepreneurship was a game. It was about ‘how do I get people involved and have a bit of fun?’”

    That mindset eventually led him to found Appear Here, “the Airbnb of retail,” in 2014. “The story of the world … was that the high street is dead, nobody wants it. And we had a contrarian view on that. When you have small high street stores and streets, people want to be on them … our data has always backed it up.”

    By 2019, Appear Here was a global business with 250,000 entrepreneurs signed up to the platform and 30,000 stores launched. The company has facilitated pop-ups for fashion giants like Louis Vuitton, Loewe and Supreme, a bookstore for Michelle Obama’s autobiography, as well as Harry’s House for pop superstar Harry Styles.

    Then the pandemic hit. Appear Here went from having its best year ever and closing a funding round with a nine-figure valuation, to losing 95 percent of revenue with just months’ worth of cash left.

    On this week’s episode of The BoF Podcast, Bailey shares his lessons and advice from the early days of founding a business and the role leaders play in leading employees and stakeholders through challenging times.

    Key Insights:

    • The traditional world of commercial real estate and retail is inaccessible and opaque, creating systemic barriers for entrepreneurs from marginalised backgrounds. But small independent stores are also the backbone of entrepreneurship for immigrants and other communities. “Whether it's the local takeaway restaurant, whether it's the local shop, all of those places… were people who were entrepreneurial, who were doing something, who were trying to build a livelihood.”
    • Despite Covid’s impact on retail, Bailey doubled down on Appear Here’s mission. Seeing people returning to streets, even when non-essential retail was curbed, and queuing for coffees highlighted the human desire for in-person community. “I just felt that this wasn't the time to pivot, this wasn't the time to relax on our idea or rein it in. Actually, Appear Here would make more sense coming out of this than ever before.”
    • The future of retail is hyper-local, says Bailey, citing examples of global brands playing into cultural niches, like Adidas and Gucci’s takeover of a working men’s social club in Peckham. “It's no longer about Fifth Avenue and Regent Street or the Champs-Élysées, it's about neighbourhoods and interesting places.”

    Additional Resources:

    How Temporary Pop-Ups Became a Permanent Strategy

    What Happens When the E-Commerce Boom Ends

    How to Open a Store in 2022 | BoF

    To subscribe to the BoF Podcast, please follow this link.

    Hosted on Acast. See acast.com/privacy for more information.


    Ian Rogers on the Inevitability of Virtual Fashion Jul 08, 2022
    Show notes

    Ian Rogers moved from Silicon Valley to Paris in 2015 when he was appointed chief digital officer of LVMH. There, Rogers, a veteran of Apple Music and Beats, was tasked with building out the luxury conglomerate’s e-commerce and data strategy and serving as a digital whisperer to executives.

    Background:

    Now, he’s chief experience officer of Ledger, a security system that provides protection for digital currencies. Given his experience at the cutting edge of both tech and fashion, he is uniquely positioned to speak to the opportunities being created as crypto technologies, gaming and fashion converge. In his mind, one day, virtual fashion will be ubiquitous.

    His insights were originally featured in the fourth episode of The BoF Show, “Dematerialisation: Why the Metaverse Is Fashion’s Next Goldmine,” streaming on Bloomberg Quicktake.

    Key Insights

    • Rogers’ background in the music industry has helped inform the way he perceives’ luxury’s need to take control of digital channels. Record labels lost out big on recorded music because they were in denial of consumers' desire to listen to music online.
    • Having goods that are both digital and physical, or, “phygital” is the gateway to the existence of purely virtual goods. In order for virtual goods to have real value and meaning, there need to be marketplaces and venues for using them.
    • People have a desire to collect things. With the rise of NFTs, there’s a way to create scarcity digitally — which gives fashion brands an opportunity to create virtual goods based on the principles and hype and rarity that drive the industry today.
    • The biggest misconceptions people have is that there’s a distinction between the physical and digital worlds, according to Rogers. The blurring of realities in the metaverse will ultimately change our perceptions of what’s real — and valuable.
    • Most technology surrounding digital goods, NFTs, crypto and the metaverse is still nascent, and storytelling about its potential has been ahead of reality.

    Additional Resources

    • Dematerialisation: Why the Metaverse Is Fashion’s Next Goldmine. Physical and digital worlds merge in the Metaverse. Can the luxury world dematerialise into the virtual space fast enough to attract eager customers — and their avatars?
    • What the NFT Gold Rush Means for Fashion. The market for digital collectibles is booming. Opportunity or passing fad?
    • Why Streetwear and NFTs Are a Perfect Match. Both trade in heavily hyped, limited-edition products that offer a sense of community. Fashion brands aiming to tap digital art take note.

    To subscribe to the BoF Podcast, please follow this link.

    Hosted on Acast. See acast.com/privacy for more information.


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