Displaying items by tag: Fashion

Wednesday, 18 November 2020 16:04

ChicGeek Comment The To-Wear List

to wear list wearing old favourites in wardrobe

Forget all this overblown hubris on buying resale, most people will be sustainable, in the short term, by simply rediscovering their own wardrobes. Regardless of size, we all have favourites we haven’t worn for a long time and are itching to get back out again. This ‘To-Wear’ list is a mental check list which grows ever longer the more we think about it. If you’re a lover of fashion, you’ll have plenty of items you can’t wait to get on your back again. Add a few future looking events and your To-Wear list keeps getting bigger and bigger.

So, if we’re busy wearing all of our old favourites, what will this mean for new fashion sales?

Admittedly, after each lock down there is a flood of pent up demand. Even this week, as the Welsh lock down ended, there were reports of long queues outside stores in the Welsh capital. One woman told BBC News she was getting it all done now in case of shop closures in the event of a return to lockdown measures. Public Health Wales' coronavirus incident director Dr Giri Shankar warned, "We do worry sometimes when we see such large number of queues outside shopping centres, outside pubs pars, cafes and restaurants.” He said we would see the effect of that “in the next couple of weeks”.

A few post-lockdown photo opportunities outside the nearest Primark and people buying necessities soon fizzles out. I’m talking about items for special events or things you love and hold on to.

The longer life takes to get back to normal, the longer our To-Wear lists become. It will be nearly a twelve months break since we wore our best clothes, add in a few extra lockdown, knockdown online purchases and we won’t need anything new for a while. Well, that’s how it feels.

While new fashion purchases could suffer while consumers work through their To-Wear lists, many people have money burning a hole in their pockets. Consumerism isn’t dead as those long queues testify.

Many people on lockdown have accumulated a lump sum of saved income to potentially splash on a once-in-a-lifetime purchase like a watch, a piece of jewellery or some art. According to data retail analysts GfK, a global leader in data and analytics, watch sales were on course for a perfect V-shaped recovery before the second national lockdown. By the end of October, the total value of sales at all price points for the whole of Great Britain over the first 10 months of the year was just 15.6% below the same period in 2019. And this was without tourist spending.

The average price paid for every watch sold in Great Britain fuelled a rise in the overall value of sales by 34.4% in October 2020. Average transaction values rocketed by 57% in the month, far higher than the increase in prices of 19.5%. Ecommerce revenue rose by 63.1% in October, up 40.3% for the 10 months since January. London saw a large lockdown bounce back in October, with sales rising by one third.

These figures clearly illustrate a demand for more expensive watches and how people are spending on considered purchases like watches even during all this turmoil. Money that would have been spent on fashion items is going into buying premium items like these. Items like watches require the confidence of having a lump sum, even just for the deposit. Lockdown has given people this opportunity.

The To-Wear list could delay the returning of fashion sales to pre-lockdown levels for a while. Many of our clothes are seasonal and we’ve missed out on nearly all four this past year. The anticipation of wearing our favourite things is an exciting prospect. The kind of items you never want to get rid of and every wear is a reminder how much you like it.

This rediscovery will be fun for a while, but then we’ll be bored again, and off it all starts, but it’s definitely something we’ve all been thinking about. We could wear them them at home, afterall, but it's not the same, Once we’ve worked through our old favourites we’ll be looking for something new, no doubt. Crazily, many of us don’t even remember what we own any more, and this could definitely propel people into thinking about what and how much they own.

What's on your To-Wear list?

Buy TheChicGeek's latest book FashionWankers - HERE

Read more expert ChicGeek Comment - HERE

Published in Comment

Matchesfashion innovator programme

It doesn’t take a genius to note that now is not the ideal time to launch a new fashion business. If you are launching your new business, this season, you probably started way before this disaster of a virus appeared and it was too late not to see it through. Too much time and money has been invested to pull out. You’re not a quitter.

Left - In September, MATCHESFASHION launched its The Innovators Programme to help support young designers

It’s a bit like all those cranes on the skyline and builders finishing off their dense blocks of luxury flats. It’s too late to down tools, not finish them and get them on the market. But, fast forward six months and how many spades will still be in or breaking new ground?

There will a gaping hole of projects starting and the fashion business will have one of the largest.

The V shaped, bounce-back recession is ideal because it conserves this economic momentum and it just becomes a blip. Sadly, it’s not looking that way. There is still momentum in the market, but the longer Covid disrupts everything, momentum lessens, and the more time and energy it will take to get it all moving again. This will also make this gap even larger.

Fashion has a time lag. The time between starting and producing samples, to then show, get orders, make and then sell, and then get the revenues, is usually a long timeline. It’s a risk and nobody knows what the state of the market will be when you launch, even at the best of times. Today, many of those thinking about striking out alone and setting up their own thing will choose to put off starting well into next year when they can feel more confident about the economic landscape.

Without trade shows and fashion weeks - a vehicle to showcase to buyers - many stores and websites will reorder previous years’ product, with tweaks, from existing brands. This will only really start to show when SS21 hits the stores after Christmas and consumers will start to notice.

Fashion’s reason to be is newness, or the perception of newness, and a never ending supply of new brands and designers kept the whole industry feeling fresh and new, while established brands and giant luxury groups took most of the sales and profits.

Luxury multi-brand websites and department stores need newness to give vitality to its entire offer. It’s news, it’s buzz, it’s hype and they had it all without the financial risk. This veneer or gap needs to be filled and retailers and luxury groups are now realising that they will have to start supporting it or it won’t be there.

MATCHESFASHION has launched its year-long ‘The Innovators Programme’ designed to champion young design talent. It was built upon an existing womenswear project to include menswear and is a robust package of practical support including mentorship, preferential business terms and £1.8 million in marketing.

The programme was developed as the MATCHESFASHION team collaborated closely with designers during the Covid-19 pandemic. It became clear that many of the designers were unsure how their brands could thrive through 2020 and that practical support and ongoing commitment was required. The 12 designers are: Art School, Ahluwalia, Chopova Lowena, Stefan Cooke, Germanier, Halpern, Harris Reed, Charles Jeffrey LOVERBOY, Thebe Magugu, Ludovic de Saint Sernin, Bianca Saunders and Wales Bonner. Eleven of these designers were already partner brands and each designer was chosen "for having a unique and powerful DNA which is intrinsic".

“I am delighted that we have formalised our support for emerging talent, developing The Innovators into a programme that actually helps futureproof their businesses in what has been a tough year for the creative industry. I have worked with many of these designers for a long time and I am so happy that we are committing to their visionary collections in a practical, material way.” said Natalie Kingham, Buying Director at MATCHESFASHION. This group of designers will only contribute marginally to MATCHESFASHION’s group revenues, £372 million ended 31st January 2019, but they add far more to its brand as a destination for people who love fashion and a place to discover newness and the hottest design talent. This desire is insatiable and companies need this veneer of young designers and brands. A small financial outlay is worth the newness halo effect

LVMH Prize fund

In 2019, Liberty launched its ‘Liberty Discovers’ platform for up-and-coming talent. It supported designers by offering mentorship from the Liberty buying team and exposure opportunities via the brand’s communication platforms and access to Liberty’s two in-house product and fabric design studios, located within its Central London store.

Right - The LVMH Prize fund of €300,000 was split amongst the 8 2020 nominees

As for all the designer prizes, many decided to split the prize monies amongst the nominees due to the pandemic. The LVMH Prize finalists, Ahluwalia, Casablanca, Chopova Lowena, Nicholas Daley, Peter Do, Sindiso Khumalo, Supriya Lele and Tomo Koizumi all shared the €300,000 prize money equally. LVMH also pledged to support previous winners of the prize with a new fund, an undisclosed amount, and the six previous winners of the LVMH Karl Lagerfeld Prize.

In America, the CFDA/Vogue Fashion Fund was renamed ‘A Common Thread’. A Common Thread has raised over $5 million of which over $2.13 million was granted to 44 businesses in the first round of funding, $2.015 million granted to 37 businesses in the second round of funding and $500,000 granted to 47 NYC-based manufacturing businesses in the third round of funding for a total of 128 recipients across the three rounds.

Fashion’s tight production timetable and traditional cashflow model makes it very difficult for small designers and brands to survive. While the giant brands and retailers want to dominate, they also want a veneer of choice and newness. Expect to see many more funds, support and ‘prizes’ to appear from the large luxury groups and retailers.

Buy TheChicGeek's new book FashionWankers - HERE

Published in Comment
Tuesday, 24 March 2020 13:10

ChicGeek Comment COVID 19 Cancel Everything

fashion covid 19 cancel orders manufacturing

This is a disaster. This will probably be the biggest recession the world has ever seen and fashion and retail is going to get hit hard. What the global spread of coronavirus (COVID 19) shows us is how interdependent our economies have become and what a fragile house of cards it all was in the first place. Those cards are disappearing quickly and the entire thing is coming crashing down.

Fashion brands and companies are in freefall and the current mindset is to cancel everything. Fashion had a problem with unsold inventory well before this. As the industry got bigger and the need for huge quantities to make a profit increased, unsold merchandise and how to get rid of it was a headache for the majority of brands, high-street or ‘luxury’.

It has been reported that garment factories in Bangladesh have now had orders worth more than US$2 billion cancelled by brands and retailers because of the global coronavirus crisis. Orders for nearly 650 million garments, worth a total of US$2.04 billion have been cancelled, impacting on 738 factories and about 1.42 million workers, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Just as the Chinese factories start production again, Europe and US are mostly in lockdown with many shops closed and retailers cancelling orders.

Primark is using a force majeure clause in its contracts to cancel its orders, the Times newspaper said. “We are deeply saddened that this will clearly have an effect throughout our entire supply chain,” Primark Chief Executive Officer Paul Marchant told the newspaper.

While much of the SS20 season would have been made despite the reported disturbances in the supply chain from China at the beginning of the year, it’s not too late to cancel high summer stock or the waves of drops, brands, who don’t want to hold much stock, have become used to. Primark has no online sales, so all that stock will be stuck in stores and warehouses.

“We have large quantities of existing stock in our stores, our depots and in transit, that is paid for and if we do not take this action now we will be taking delivery of stock that we simply can’t sell. This is unprecedented action for unprecedented and frankly unimaginable times,” said Marchant.

Marks & Spencer has recently cancelled £100m in clothing orders.

This is the retail equivalent of cutting off limbs to save the vital organs. Brands don’t know how long this is going to last and what shape they and consumers will be in at the end of it. They need to save cashflow. Fashion feels particularly unimportant right now and will be awash with huge discounts to clear stock in the near future, and that’s in an already saturated market. Brands cancelling orders will impact manufacturing countries hard, but this isn’t a frivolous decision, this is a battle for survival. 

BUY TheChicGeek's new book - FASHIONWANKERS - HERE

Published in Fashion

Tim Walker Wonderful Things Victoria & Albert museum exhibitionThe V&A unveils the Tim Walker: Wonderful Things exhibition featuring Tilda Swinton, Grace Jones, Karen Elson and Grayson Perry, as well as over 150 brand new images inspired by objects in the V&A’s collections. The exhibition is the largest-ever exhibition on the photographer to-date, celebrating his 25-year career.

Left - The exhibition is centred around objects Walker has chosen from the V&A's collection

TheChicGeek says, “When I stopped religiously buying fashion magazines, probably over a decade ago now, fashion photographers feel off my radar. Their names were pride of place at the beginning of each editorial and they became as familiar as the models, editors and stylists.

But, things changed, budgets were cut and everything started to become advertiser lead, very samey and anonymous. Probably the reason why so many people have stopped buying them.

And so, to Tim Walker, his career really started to take off after I’d stopped buying magazines and as such I really don’t know that much about him. I missed the exhibition he had at Somerset House, which really seemed to cement his name.

His style is fantasist, Alice in Wonderland, Gulliver's Travels, fish eye lens type images, which, in this world of billions of daily images, are very memorable, which shows their strength. The first room is a collection of his previous work. (It’s a shame some of them weren’t reproduced larger, but there are a lot to cram in).

Tim Walker Wonderful Things Victoria & Albert museum exhibitionThen, each thematic room is based around an object from the V&A’s collection and the subsequent images Walker has produced inspired by and in respect of.

This idea, which they could easily roll out to other creative figures, is a good way of connecting one type of audience - here fashion - into exploring more areas of the museum. Walker’s connection to his items seemed quite lite and it would have been nice to have some more history or emotion to his objects. Let’s be honest, you could probably connect any random idea with something inside the V&A.

Right - The first room - love a Space Odyssey ceiling 

Here we have ‘Wonderful Things’ ranging from Aubrey Beardsley's illustrations to some rather wonderful French stain glass windows featuring crowns and maces to Edith Sitwell’s gold shoes. It's quite a mix, but that's part of the fun. As always with the V&A, the staging is great, and it all has the fantasy touches we all know and love these days. I particularly liked the highly lit, Space Odyssey-type rooms and, overall, it was all playful and approachable.

It did make me think about where can fashion photography really go? These images are great and everybody loves them, but, like fashion, it's a continual rehash of previous themes and styles and these images could easily been produced at any time in his 25 year career. It doesn't feel contemporary, and, until fashion changes, fashion photography won't either."

 Below - More images from the exhibition

Tim Walker Wonderful Things Victoria & Albert museum exhibition

Tim Walker Wonderful Things Victoria & Albert museum exhibition

Tim Walker Wonderful Things Victoria & Albert museum exhibition

 

Tim Walker Wonderful Things Victoria & Albert museum exhibition

Published in Fashion

Advertisement