Things often speed up towards the end. It’s probably in one of Newton’s laws and it best describes the recent carnage in the printed media industry. It feels like we’re finally at a tipping point, and, in the past week, we’ve seen the men’s style media hardest hit with Esquire halving the frequency of its print edition and Shortlist, the biggest UK men’s title by readership, closing altogether.
Add in Johnston Press, which owns more than 200 titles including the i, The Scotsman and The Yorkshire Post, going under, and it’s free-fall in the newspaper and magazine publishing business. You’re doing very well to stand still.
According to a recent Evening Standard article, in the past decade over 300 local newspapers have closed, circulation has more than halved, advertising revenues have nosedived by 75% and 6000 fewer journalists are employed.
What’s killing these businesses isn’t the falling number of copies being sold - while that doesn’t help - it’s been the giant migration of advertising and marketing revenue to the online monopolies of Google and Facebook.
It’s obviously a shift to online, but the big question is, why have all the magazines and newspapers happily sat back and watched both these businesses take away all their revenues?
In 2017, Google's revenue amounted to 109.65 billion US dollars. Google's revenue is largely made up by advertising revenue, which amounted to 67.39 billion US dollars in 2015. Facebook made $39.9 billion in ad revenue in 2017. Mobile advertising represented approximately 89% of advertising revenue for the period, up from 84% of advertising revenue in the fourth quarter of 2016, while the company saw the biggest jump in revenue in Europe (31%).
Not amount of rebrands or editors being replaced will compete with this dominance.
Condé Nast just announced it was closing American Glamour, this follows Teen Vogue, and there are rumours W is next, if it can’t find a buyer.
While Google keeps its nose relatively clean, it’s Facebook that seems to jump from controversy to controversy.
At the beginning of this year the Facebook–Cambridge Analytica data scandal revealed Cambridge Analytica had harvested the personal data of millions of people's Facebook profiles without their consent and used it for political purposes. It opened the eyes of the general public. Facebook wasn’t this cuddly and friendly village notice board anymore, but rather an aggressive marketing tool selling access to their lives. This was a huge sucker punch to this online Goliath and the newspapers and media should had been encouraging us all to close our accounts and walk away.
The media should have pushed for us to delete Facebook. It was a huge opportunity for them to damage Facebook and take back a slice of revenue. Much in the same way we joined, if all our friends left, we would leave or no longer be active on there.
Recent evidence also suggests Facebook knew about Russian political activities on its platform even while Mark Zuckerberg, Facebook’s Founder, publicly denied it. The Facebook culture is said to be one of ‘delay, deny, and deflect’ and is full of ‘fake news’.
This has had a slight effect on visitor numbers. According to the company's latest figures, the number of Europeans logging onto the site every day dropped from 279 to 278 million, while monthly European users fell from 376 to 375
However, total global user numbers continue to slowly rise, with more than 2.2bn people using the platform every month. The latest results showed total revenue of $13.7bn dollars (£10.8 bn), an increase of 33 per cent on the same period last year.
After its financial results in July when Facebook said it expected revenue growth to slow and costs to rise, more than £90bn was wiped off the company's value. The latest figures show costs rose 53 per cent on the same period last year to $7.9bn (£6.2bn).
Facebook is trying to change its image, with adverts telling you how much they care and it publicly committed to recruiting thousands of new content moderators to help improve its ability to remove malicious content from the site - an area it has been widely criticised over.
It also just announced they have partnered with regional publishers Reach (formerly Trinity Mirror), Newsquest, Archant, JPI Media (formerly Johnston Press), and the Midland News Association to launch the ‘Community News Project’, a scheme that will help fund 80 community journalists.
Ironic when you consider they have mostly disappeared because of Facebook. This is, now, media as charity, subsidised by Facebook to give a veneer of unbiased and local coverage. The scheme follows in similar footsteps to the BBC‘s ‘Local News Partnership’ which has helped fund over 140 local democracy reporters.
What all this shows is Facebook isn’t unstoppable. People and their time is the value in Facebook and if we walked away we could damage it. It’s probably naive to think it would disappear, but just a small slice of those huge revenues returning to more independent media would make for a healthier and broader media landscape.
The current traditional media feels very passive and defeatist with regards to these advertising revenue giants when they should making them public enemy number one and encouraging us to walk away.
Are you ready to delete yours?
While not a new book, this autobiography was originally published in 1954, it has been reproduced, this year, by the V&A Museum with a cover illustration by their Student Illustrator of the Year, 2017.
Elsa Schiaparelli is an illusive pillar of fashion. While we know the name - pronounced skap-ə-REL-ee - we don’t really have many images of her. She’s not a fashion character like her contemporary, Chanel. The image in my head is of a dark haired woman wearing a 1930s-type velvet dress with a sculptural hat, but, other than that, she’s fairly anonymous.
V&A - Shocking Life: The Autobiography of Elsa Schiaparelli - £8.99
Italian by birth, but French in her sartorial spirit, she’s a stylish rolling stone who gathers no moss, moving between countries like a migratory bird. She falls into fashion and runs with it. She talks about herself in the third person and, while not a stickler for dates, you get a rough idea of the time by events like the war and the Queen’s coronation.
The book is a whirlwind trip of her life journey up until 1954 when she closes her couture house. She lives until 1973.
Schiaparelli feels like a free spirit who has the confidence to design what she wants and follows her instinct, but she isn’t hung up on the idea of ‘fashion’. It just comes naturally to her. She was the first to use shoulder pads, animal prints and was the inventor of ‘shocking pink’, hence the name of the book. She collaborated with artists including Jean Cocteau, Alberto Giacometti and Salvador Dalí, producing windows and interesting pieces for her fashion label.
She resonates through fashion today. Her first perfume, Shocking by Schiaparelli, was in a bottle shaped like a female torso. Jean Paul Gaultier? She produced newspaper printed fabrics. John Galliano at Dior? And pioneered the idea of playfulness and unusual motifs. Martin Margiela?
She’s made me want to visit Hammamet in Tunisia, where she retires to, and she’s the kind of character you would watch and take note of whatever she does, wherever she goes or whatever she produces.
Schiaparelli, as a brand, has so many tropes it’s a shame it didn’t have a renaissance like Chanel. It would have made for far more interesting fashion. Can you imagine somebody like Galliano at Schiaparelli? So good.
The name was bought in 2007 by Diego Della Valle, who owns the Tod’s brand, but, it wasn't until September 2013 when Marco Zanini was appointed as the head designer. It hasn’t really made any impact and feels like something somebody should have done 40 years ago. It’s much harder to make any inroads, today, with fashion so saturated, regardless of the history or pedigree.
Schiaparelli isn’t too worried about the details and you get a feeling she knows she’ll always land on her feet. The book is an enjoyable look into French couture and how the Second World War affected it from the shocking pink lips of a woman who pioneered an adventurous and surreal way of dressing. Lobster, anybody?
We reached ‘Peak Backpack’ a while back, so it’s really hard to find something that doesn’t just blur into the crowd. The expensive fashion ones, that you can’t fit anything into, or are more form over function, quickly become an irritant and are discarded on the bedroom floor.
The technical ones, on the other hand, make it look like you’re about to climb Kilimanjaro and don’t really blend into the urban environment. You want something stylish, technical and flexible in how much it can handle.
I’ve been recently introduced to Chrome Industries. Founded in Boulder, Colorado - I’m already sold on the name! - over 20 years ago by a couple of skaters and bike messengers, Chrome Industries started when they took an old Juki sewing machine, a few yards of ballistic nylon, added military grade truck tarpaulin and salvaged seatbelt buckles when they couldn’t find anything in the market that met their expectations.
This 'Urban Ex Gas Can 22L Backpack', in lightweight nylon, features reflective details, a removable laptop sleeve fitting a 15” MacBook Pro and velcro fastening inside and is fully waterproof with stylish taped zips. When empty, it folds flat, but, when full, it transforms into an attractive and very rigid looking rectangular tube.
This feels like the type of backpack that can be anything you want it to be. From meetings around town to a rainy trek in the country, it'll do its job without breaking a sweat. It's the type of backpack you’ll enjoy using and reach for first.
Left & Below - Chrome Industries - Urban Ex Gas Can 22L Backpack - £149.99 from Zalando.co.uk
This is the best type of shopping; an investment and something originally beautiful. You already know I’m obsessed with vintage and the element of discovery and a new auction catalogue from Kerry Taylor Auctions in Bermondsey is like sartorial porn. So, treat yourself to something for Christmas. You deserve it!
Here are TheChicGeek’s picks of the sale and why:
TheChicGeek says, “Nothing is original in fashion, well, not totally. When Jeremy Scott put his wings on his adidas trainers, he could have glimpsed these gorgeous pair of talaria beach sandals. (Talaria are winged sandals, a symbol of the Greek messenger god Hermes -The name is from the Latin tālāria, "of the ankle".) Can you imagine the rest of the swimming costume?"
Lot 62 : A rare pair of Phillips' Silver Wing rubber bathing shoes, English, late 1920s
A rare pair of Phillips' Silver Wing rubber bathing shoes, English, late 1920s. moulded with maker's details to the soles, of black rubber with white painted edgings and silver wings to each side.
Estimate: £800 - £1200
TheChicGeek says, “I’m a little bit obsessed with Schiaparelli, ATM. I’ve been reading her ‘Shocking Life’ autobiography and she seems like a whirlwind of style and creative ideas and very much where we are, right now, in fashion. This is one of those fun things we take for granted today, but just look at the year it was produced”.
Lot 69 : A rare Salvador Dali for Schiaparelli 'Telephone Dial' compact, 1935.
The design of this compact in 1935 marks the first collaboration between Elsa Schiaparelli and Salvador Dali. That same year saw the opening of Maison Schiaparelli at 21, Place Vendôme, Paris.
Estimate: £2000 - £3000
TheChicGeek says, “More Schiaparelli. I get the impression any woman who commissioned an outfit from Schiaparelli would be the interesting woman in the room. It’s a shame the name didn’t have the same life as her rival, Chanel, as it would have made for much more creative fashion”.
Lot 70 : A fine and rare Elsa Schiaparelli couture 'Hall of Mirrors' jacket and matching dress, 'Zodiac' collection, Autumn-Winter, 1938-39
Presented in August 1938, it drew on two main themes - astrology and the magnificent Palace of Versailles. The seventeen massive archways of the Galerie des Glaces, each filled with twenty-one mirrors, must have inspired the baroque cartouches on this jacket front. Provenance: Vera Bowler who married John Wesley Worth on 4th May 1935. Her husband was regional Manager for Carreras Ltd., Britain's largest manufacturer of cigarettes.
Estimate: £50000 - £70000
TheChicGeek says, “Move over the Milk Tray man in this James Bond like aprés-ski outfit. You can just imagine George Best or Tom Jones in something like this”.
Lot 107 : A fine and rare Pierre Cardin man's knitted jump suit, 1969-70.
Estimate: £7000 - £10000
TheChicGeek says, “John Galliano seems to be exciting everybody at Maison Margiela, ATM, so it’s nice to see some early stuff from this British master. £1200 in 1990? That would have been a fortune”.
Lot 159 : The John Galliano 'Banana' coat showpiece, Autumn-Winter, 1989-90.
Provenance: Gifted by Mr Galliano to a friend who worked with him. The coccon-shaped 'Poiret' coat in banana-yellow Melton wool with collar formed from tall cartridge pleats (retail price advertised at £1200). Galliano described this coat as a 'punctuation mark for the show’.
Estimate: £2500 - £3500
TheChicGeek says,”It was only a fews years ago that Christopher Raeburn put inflatable rubber coats onto his London catwalk. This is pure Michelin Man and full of those 80s proportions when Issey Miyake was at the height of his influence”.
Lot 172 : A rare Issey Miyake man's inflatable rubber jacket, 1987.
An identical jacket was worn by Chris Lowe of the Pet Shop Boys in 1987 in a performance of 'Rent' on the 'Live from the London Palladium' TV show..
Estimate: £10000 - £15000
See more ChicGeek vintage picks here
Superdry has been a British retail phenomenon. In under a decade, the brand went from its first store in Covent Garden to a huge multi-storey flagship on London’s Regent Street.
Established by James Holder and Julian Dunkerton, the Superdry name first appeared in 2003. It has been an unstoppable juggernaut since then, racking up yearly sales of over £750 million (2017) and operates in 55 countries.
Left - Superdry went from a single store to a huge Regent Street flagship in under 10 years
At the beginning of this year, the remaining founder, Julian Dunkerton, announced he was stepping down from the company. In a statement, Mr Dunkerton said he had “other demands” on his time, and stepping down was “the right point for me to transition my focus and responsibilities”. Handing the reins to new Superdry chief executive Euan Sutherland, Dunkerton bowed out quietly until this October when Superdry issued a shock profit warning blaming warm weather and bad foreign exchange hedging. Shares in the group crashed 20%.
Dunkerton has been vocal in his disagreement with the direction the company is heading in, saying, “I cannot sit back and watch my shareholding — and those off all the pensions invested in the company — be dissipated”. He’s trying to gather other shareholder support to return to and steer the company in his direction, but, have they got their strategy wrong or has the Superdry brand simply peaked and run out of steam?
Mat Heinl, CEO at global creative business Moving Brands, an independent, global creative company, says: “It has become unclear who Superdry is for and it feels like its brand and purpose has been entirely lost.
“There, now, seems to be a clear disconnect between what made the brand successful and its core base of customers. With the mid-market being hit hard by competitors, brands like Superdry fall into a sea of sameness,” says Heinl.
The strategy in question has been Superdry’s move into fast-fashion. In September, Superdry hired Brigitte Danielmeyer as its new chief product officer to launch a new fast-fashion range called "Superdry Preview”. Formerly Tommy Hilfiger’s global head of womenswear, Danielmeyer, leads the new Superdry Preview label aimed to attract a “younger, more fashion-driven” customer through limited-edition capsule collections. The range will go from design to delivery in just six weeks and be supported by a social media campaign targeted directly at 16 to 24-year-olds.
Yet to be tested, with no results yet for these ranges, Dunkerton thinks it’s a mistake for Superdry to move into the competitive fast fashion arena. He thinks Superdry should stick with fewer, core ranges in store and massively increase the designs and varieties (known as SKUs) being sold online.
“Last Christmas we were at a point where we could hit fast fashion online. We were such a strong brand that we could really increase our SKU count. But they [the new management] did the reverse.
“If you put that product online you would expand brand awareness and create excitement online while combining it with the classic store base.” he said.
Not everybody disagrees with the fast-fashion approach. Natalya Johnson, Marketing Manager, Shopest, who create location- based shopping experiences helping “independent stores to stay vibrant, profitable and nearby”, says “Early on the brand appealed to their target demographic which at the time was young men and women aged around 16-30.
“Over time, their consumer has changed, developed new interests and shop in a new way. Although brand identity is strong, the brand has failed with adapting into the fast fashion cycles, meaning their products seem to be outdated,” she says.
“Superdry are beaten by big brands such as ASOS and Zara, who not only offer consumers constant variety, but also a difference of style.
“Superdry do have great potential to revive the brand, tapping into current trends in the fashion industry that would attract their ideal consumer. It seems that they keep missing the mark in trends that would complement the brand e.g. streetwear and also brand collaborations.
“Once the product becomes more relevant, the brand can offer new innovations in store and develop stronger marketing strategies. In conclusion, Superdry appear to be very stagnant at the moment, but definitely have the potential to make things right,” she says.
The shares now sit at roughly 780p. They began the year above 2000p. The October profit warning said it expected to make £83 million in profit this year, well shy of the near-£110 million expected.
Superdry is heavily reliant on sales of heavy winter items such as jumpers and jackets, making 45% of annual sales. It said “unseasonably hot weather” in the UK, Europe and the east coast of the US was hitting sales.
“Superdry is a British phenomenon who’s growth has been nothing short of miraculous,” says Anthony McGrath, Lecturer and Editor-in-Chief of Clothes-Make-the-Man.com.
“In their heyday, celebs galore were spotted in their trademark casual wear and they set up home in a huge flagship emporium dedicated to all things Superdry on the retail Mecca of Regent Street. BUT! They have rested on their laurels and the whole nature of the beast, that is fashion, is that it changes at a break neck speed. Tastes, styles, trends change and unfortunately Superdry haven’t. So, yes, I do think Dunkerton is right,” he says.
Right - Is Superdry too reliant on coats and jackets?
Dunkerton, who retains an 18.5% stake, said “The management team remains hell-bent on their strategy, publicly supported by the chairman; but the numbers and the market warnings speak volumes. It is very clear that the company needs to change strategic direction; I have a clear and simple plan to correct the problems, and I have been explaining my plan to shareholders over the last couple of weeks.
“This company and brand has such a great opportunity - we must grasp it now,” he said.
This added pressure onto the Superdry management comes at a time when the retail landscape is looking schizophrenic. Long one of the darlings of the British retail scene, could this just be a case of the brand losing momentum and consumers growing tired of the Superdry brand regardless of the strategy? Has the ubiquitous Superdry branding reached its zenith, and, regardless of what the brand does, exponential growth can’t go on forever?
“Another challenge for brands like Superdry is the rise in people turning away from highly disposable and consumerist brands as they become aware of the massive pollution and poor working conditions associated with those brands which emphasise profits over ethical business practices,” says Heinl.
“To claw back momentum, Superdry, and other struggling brands, could do a number of things to help them stand out in a crowded marketplace. They could become a champion of sustainable fashion, improve and showcase high quality products, define a distinct design direction or take a leadership position in improving supply chain transparency and quality,” he says.
Dunkerton said, “My model means less wastage. It is far easier to manage and you have lower stock risk.
“There are too many products in the stores with short shelf life. You shouldn’t try and change it all the time. Get the product right and be confident in it. There’s no reason a jacket in October shouldn’t stay until March. Now, you see jackets on sale already. Can that be right?” he says.
Shareholder Aberdeen Asset Management is supporting current management, saying Dunkerton left after multiple profit warnings. Superdry chief executive Euan Sutherland has said “it will take up to 18 months for the benefits to come through” and Superdry chairman Peter Bamford said: “The Board of Superdry has huge respect for Julian Dunkerton as an entrepreneur and founder of the business. Julian has raised a number of issues with the board regarding strategy since he left the business. We have reviewed and discussed these issues and, while we have sympathy with some of his points, we have a different view on the best strategy or approach to addressing them.
“Superdry is an ambitious, global, multi-channel brand and the Board believes that Julian’s view of strategy has not evolved with the needs of the business. We remain fully committed to our successful global digital brand strategy and the board is confident that Superdry has in place the right leadership to ensure the continued development of our highly relevant brand.”
The management will have to start seeing the fruits from this new strategy and fast, otherwise shareholders will push for change. The next set of results will either quieten Dunkerton or add fuel to the fire for a reversing of the company direction. Superdry is too reliant on coats and jackets, but this has also helped them grow to the size they are. Regardless of strategy, what if consumers are simply bored with Superdry? That’s going to be an even harder job to fix.
It must be the excitement surrounding the return of Mary Poppins, but nothing says ‘London’ like a pearly king. This ASOS Design jacket updates the look from buttons to sequins. The western jean jacket style keeps it more casual, and it looks much more expensive than it is.
This is somewhere between Saint Laurent meets Roberto Cavalli meets Balmain and I promise you won't feel like a Dick Van Dyke!
Let’s Chim Chim Part-ee!
Left & Below - ASOS DESIGN western jacket with gold sequins in black velour - £60
More Mary Poppins Inspiration - Trend Carpet Bags
Sometimes in danger of believing his own hype, Jeff Goldblum, is a cool customer. On a recent Graham Norton Show, Goldblum totally nailed this year’s evening look. A snakeskin jacket was teamed with a lurex shirt and tie combo and striking zebra socks and matching shoes.
Left - Jeff on Graham's sofa showing the zebra shoes and matching socks
What, on paper, shouldn’t work, totally does and shows it’s all about the sparkle and animal prints, this party season. This is confident evening wear and shows everybody at the office party what a lounge lizard you are.
Get the look below:
Right - Smart evening wear with character
Left - River Island - Black Snakeskin Print Skinny Fit Blazer - £85
Left - Saint Laurent - Damier Lurex Shirt - £685
Left - Moss London - Black & Silver Knitted Tie - £20
Left - Dr Martens Core Fusion Zebra Creepers In Black - £112 from ASOS
Left - Saint Laurent - Men’s Deck 20 Loafers In Black Suede And Black And White Zebra-look Calfskin - £795