Luxury is Down, High Street is up!

Who would have ever thought that the fashion world would be on its head like this! The economic down turn that hit the wealthy first and where it hutrst the most; in their investments, has tipped the scales in the fashion worlds as well.

This is one turn of events that even I did not anticipate. In prior slow-downs, even when the economy was slow, the luxe brands were, for the most part, stable because the wealthy were, well, wealthy! However, this time the luxe brands were the very first in line and are continuing to stagnate.

Of course, the entire retail industry is suffering and no brand is exempt, however, brands like Zara, H&M, Fossil, etc who have lower price points, but strong brands with reasonable quality goods are faring relatively well, or in some cases, even expanding.

The question is, how long will this last. Should the luxe brands hold out for things to get back to "normal" or is this re-alignment a paradigm shift?

The answer lies in the US Economy. If the recession, digresses into a depression, then, this change will be a pretty long term change. If we can see even some moderate recovery in the US market, there is hope that, the high brands, will resume their place at the top.

2009 will be a nail biter. Hold on to your cash!

C!

Luxury blues

The financial crisis has hit the luxury market in Japan like a sledge hammer. In the past, problems with the economy always hit the luxury sector of the market last. It would stand to reason that consumers who purchase lux goods are not spending from their pay check, but for some reason that logic does not apply this time around. Hiring for many of the strongest brands has stopped on order from HQ.

The casual and High street sector, on the other had are doing great. My theory is that the lux consumers have migrated to the HS brands. Especially with the coming of H&M, consumers are starting to get the notion that you can get good (not great) quality and well designed stylish good without paying the luxury tax. Perhaps what we are seeing is also the beginning of the re-aligning of the Japanese apparel market much like Coach has been doing for bags since 2001.

Gucci sales decline seen as first signal of luxury goods slowdown

I thought this article might be interesting for you. I hope it is just the Gucci brand for the quarter and NOT a sign of what is coming for the rest of this year and the rest of the brands. I predicted that things were going to slow down in Japan after June. I hope I am not right!

Cecilio

Underwear Fashion and Pole dancers

Went to a VERY interesting party on the weekend! IT was a men's underwear fashion show. It was filled with screaming ladies and pole dancers. The event was held at the fashionable Tokyo club Dessert Rose

I really had no idea as to the variety of men's underwear and how well designed some of the products were. Some of my favorite designs came from the label Over the Twelve.

Andre Benjamin

Andre Benjamin (aka Andre 3000) is known for his fearless approach to fashion that updates traditional menswear looks. The ultimate modern dandy, Benjamin is launching his own menswear collection for fall, and we just got back from his showroom where he walked us through the collection. No photos are available yet, but we can tell you, the collection is inspiring! English traditionalism meets all-American flair. Sportier pieces are inspired by American football team uniforms from the 1930s. More tailored pieces suggest another era when men valued their style, wore clothes that were built to last. The collection was designed by Benjamin himself and each piece reflects his aesthetic — very well made, with attention to detail and quality. Italian fabric woven shirts with white collars, thick and snuggly slim fit sweaters, wool trousers, plus fours, and vests, a corduroy suit, and really great outerwear pieces round out the collection. Benjamin Bixby debuts at retail in the fall. We can’t wait!

YSL Creative Director Stefano Pilati

Sefano is a very candid, friendly, and real. He comes across very passionate and romantic. I think this comes out in his work. Intersting perspective on him:

Robert Polet of the Gucci Group

Excellent intervew with Mr. Polet of the Gucci Group. Good insight into the direction of the group.