DVF takes China

Let us revisit January 2010. While many of us were planning to raise our GPA's, drunk text a tad bit less and/or keep our thighs in manageable condition, Diane Von Fursternberg's New Year's resolution was to make a name for herself in the world's fastest-growing market for fashion and luxury goods. Lofty goal, no? Enter China, which according to a recent New York Times article, can be described as "a nation where the Cult of Mao is quickly being supplanted by that of Louis Vuitton, Gucci and Armani." Well, thank God for that. With its fashion capital of Shanghai and the cultural metropolis of Beijing, why wouldn't DVF want to add a few push-pins on the map and increase her number of global boutiques past the current three dozen?

During a recent meeting in Beijing, everyone's favorite wrap-dress designer, along with her team of associates, prepared the Chinese for a future display quite appropriately titled, "Journey of a Dress". As expected, the retrospective presents DVF's career, from the birth of her iconic signature design in the 1970's to the namesake fashion empire she's responsible for today. Getting China excited for a glitzy "Red Ball", Ms. Von Furstenberg is employing the help of one of her bffl's, Hong Huang, otherwise known as China's Oprah. No. Big. Deal. If business school has taught me anything, it's nice to have friends in high places, but it's even better to be a regular part of that network. I'm all for mutually beneficial strategic alliances, especially in this holiday season of giving (aww).

Following Anna Wintour's first exploration into the Middle Kingdom (which took place only a few weeks ago), DVF has even contemplated learning Mandarin... and we know as long as she doesn't take lessons for Moran, she'll be just fine. Continuously taking advantage of business opportunities from the beginning of her career until now, props to you, Ms. Von Furstenberg, for always challenging yourself and your brand, especially with this new mission to cater to the most intimidating market in the world. Needless to say, I'm very excited to see how this one turns out.

Here's to you, fashion. Cheers. 

ASOSOS

I'll never forget when Jenn introduced me to ASOS freshman year. Sitting at a table in Benson (back when I studied somewhere else but Calloway-- vintage, I know), I was astonished at the sheer volume of inventory a single online retail establishment could hold. What's more was that they had this innovative "View Runway" tab where you could see the garments in a moving context... fantastic. Little did I know, I was in for a sweet surprise when I walked into the lobby of the Greater London House building that housed Rainey Kelley Campbell Roalfe Y&R. Originally attending a branding presentation at the creative firm for my marketing class, I soon found myself gazing starry-eyed at a frosted glass sign directing me to ASOS.com, second floor. Oh, word? Of course, I repeatedly asked my housemates in a daze, "Is the ASOS headquarters really here? Is this where the ASOS office is?" and naturally, no one knew/cared/had even heard of ASOS before. Textbook definition of esoteric lifestyle right there.

So yes, I enjoyed my little adventure and made a mental note to return as soon as possible. In whose else's life but my own would it be totally appropriate, not to mention expected, to accidentally stumble upon the headquarters of ASOS.com while causing trouble all over London? I recently rediscovered my love for the website when I received my daily Business of Fashion e-mail, notifying me that ASOS had just recently launched a US site, offering such luxuries as free shipping for American customers. Baller. Pounds to dollars conversions always depresses me anyway. Looking ahead, the company is launching its French and German sites later this year, driven by the fact that they now cater to 167 markets. So freaking inspiring. See, these are the things that get me so excited for real life.

Below are my very favorites of the over 2,000 dresses (60 pages, at that) that I perused accidentally-on-purpose after popping my dailies to start my multi-linear regression analysis problem set. Oopsies. The best part about these selections is that they're all on sale, hence ASOS-OS. I adore the frilly feminine details on the shoulders and the crinkle-paper-esque bodices. My favorite piece of all is undoubtedly the super-playful Wiggle Hem Dress, which would totally be deemed a "Carrie Bradshaw dress" according to the stylish Miss Theresa Breitton's judgment. We all need one, so why deny this personality-filled LBD, especially for a should-be-illegal $30. Love.

Wiggle Hem Dress, $30

Ruffle Organza Tipped Edge Bandeau Dress, $30

High Shine Structured Dress

Mango, $40

One Shoulder Ruffle Front Dress

Aqua, $76 

Wiggle Hem Bandeau Dress

Rare, $61

 Waterfall Sleeve Belted Dress, $19

Organza Flower Hem Tank Dress, $34

Blouson Fringe Dress

Warehouse, $67

One Shoulder Organza Dress, $27

Black Dress with Bows, $24

 Lazer Petal Dress

Rare Opulence, $78

Here's to you, fashion. Cheers.

The week in review, in Calloway terms

I know, I constantly drone on about how utterly fabulous The Business of Fashion is. Nowhere else could one find subject matter so wildly appropriate to my personal and academic interests. Below are excerpts of what I consider to be the most b-school-related stories of the week. (Side note-- it's almost scary how similar these articles are to the ones listed on my syllabus, sans the industry content. Now, if only my Calloway work was within fashion, my aversion to the workload would be nonexistent.)

  
1. Coach launches European expansion plan
While I definitely wouldn't go so far as to actually label the company a "luxury goods" brand (especially after my case study and presentation on LVMH), it's proven that Coach Inc. is America's largest manufacturer of luxury leather handbags-- yes, "luxury" is a relative term. Sitting comfortably on the fact that it recently doubled dividends and performed well with Q3 estimates, Coach declared publicly its plan to launch nearly 15 retail locations in France over the next few years via a strategic alliance with Printemps, a domestic department store. Not stopping there, the company also announced a joint venture with Hackett Ltd., the purpose of which to open stores in target countries Portugal, Spain and the UK. As a novice in strategic management, I'd forecast European success given their recent financial gains and their ever-growing brand identity strength. While it may not be at Bottega Veneta's level in terms of luxury and/or heritage, Coach certainly offers a positioning strategy (needs-based) that fits with the certain niche it has reeled in over time, leading to-- unsurprisingly-- a sustainable competitive advantage. Well done.

2. The future of tweeting
After I had my March interviews (all in oh-so-legit corporate headquarters), I suddenly felt a strong urge to proclaim to the world how AWESOME my life was over those few days... so I opened a Twitter account. Though I haven't had time to even figure out how the application works, to say that Twitter is merely "here to stay" could be filed under "biggest understatements of the century". Now at 100 million users (and growing), the site is on a high to leverage the brand's strengths in order to generate revenue. Combining the viral marketing abilities of AdWords and pop-ups, Twitter presents itself as a much cleaner, safer pseudo-advertising platform for new ventures and startups trying to make it in the world. With services geared to track user interest and activity, Twitter is in for a different kind of success-- as long as they don't take it too far, that is.

 

3. Luxury waves of M&A
If I had to pick my favorite consulting firm of them all, there is no doubt that my choice points right to Bain & Co. Who doesn't love reading analyst reports on luxury brands (okay, maybe that's just me)...? Their newest findings indicate the trend of strategic partnerships and IPO's cropping up after the sector's worst financial year in history-- see ya, 2009. The spectrum goes from "lagging" brands who would fall off the chart without remorse all the way to the big conglomerates like Gucci Group whose size and scale provide an unspoken ammunition against consumer behavior experienced this year. Bain forecasted a 4% growth in worldwide luxury good spending this year, thanks to sales in the US, Europe and Asia (led by China, of course). While this is all fine and good, it looks like luxury brands are doing all they can to protect themselves against another storm of decreased interest and spending.

 

Don't ask me why I just wrote the most academic post ever. It (maybe) won't happen again.

Here's to you, fashion. Cheers.

Making fashion history

Today's big news comes straight from my new favorite blog, appropriately titled The Business of Fashion. Ladies and gentlemen, prepare yourselves. As of today, Vogue has agreed to a partnership with the British Fashion Council to launch an awe-inspiring £200,000 fund directed solely at supporting young British design talent. As with its US counterpart, the Vogue Fashion Fund will encompass all types of necessary financial assistance for qualified designers as well as personal guidance on business practices.

The highly-revered Alexandra Shulman recently divulged, "Vogue's role in supporting young designers is incredibly important because the international fashion industry looks to us to bring young British designers to its attention and to endorse those who we consider talented. This fund means that Vogue can get involved on a practical level."

Georgia Jagger on the November 2009 cover of Vogue

photographed by Mario Testino

Talk about inspiring.

Coming from the girl whose passion for the fashion industry has always been overlooked as an overzealous obsession with her wardrobe, this bit of news gives me hope that our society can start to appreciate fashion for all the tings it truly is- a business, an esoteric art and a vocation.

Here's to you, fashion. Cheers.