British Fashion Council’s Post

Good news if you were worried about handbag inflation. The 'Fems for Dems', comprising of suburban college-educated women, who also happen to buy Coach, are just about all that is keeping Trump out of the White House.... More to the point the European consolidators should be worried. In a slowing market (led by China) one way to keep the investor community happy is to cut costs through synergies. That pathway is suddenly constrained. It also puts a dent in the business's VC like pathway for new designers to build a firm worth a few billion and then sell to (Bernie) Arnault or (Francois-Henri) Pinault or (Todd) Kahn, the triumvirate of the business, if you will. Hermes and Prada are nowhere hear as prolific as Arnault or Pinault. Kahn / Tapestry (formerly Coach) is a little new to sizing up but obviously thought he was getting going. #M&A, #antitrust #markets #hedgefunds #luxurygoods #lvmh #tapestry #coach #michaelkors #cpri #tpr #KER https://lnkd.in/ep-Qzxfe

#LSE #SMWH FTSE 100 up 59 points at 7,589 Consumer confidence hits 2-year high Strong LVMH results lift Burberry and Diageo 8:52am: LVMH jumps 8% after reassuring fourth quarter LVMH is the big story in Europe, with shares up 8.1%, after its strong fourth quarter results which saw the luxury goods outfit end a tricky year in high spirits. Analysts at Citi highlighted a “relatively confident tone at the analyst meeting,” which suggest 2024 might be a “smooth rather than difficult year of normalisation” for the luxury industry's leader. Barclays described the results as "reassuring."  It noted the core Fashion & Leather Goods division delivered 9% growth in the fourth quarter, in line with consensus, while the Wine & Spirits business also posted a stronger result, growing 4% (consensus: -7%, Barclays: -11%). . More at #Proactive #ProactiveInvestors http://ow.ly/iekG105bFPb

"Keeping Up with the Bakers" has taken on a very different meaning than intended in Ted Baker's celebrated add campaign of 2017. 10 years ago, almost to the day, I was on the table next to Ray Kelvin's when he was given Retail Week's "Outstanding Contribution to Retail" award. Only 7 years ago it was riding high with sales of c. £600m in over 35 countries and a share price of over £33. Then came Ted's annas horribilis in 2019, its mini recovery and then purchase for £210m by Authentic Brands Group (ABG) in 2022. Following the buy out, the structure of the business became complicated, a muddle of acronyms - with a UK subsidiary of ABG, NODL (No ordinary Designer Label) having an agreement with Dutch business AARC to operate stores and on line across Europe. Anyone who went into a Ted at Christmas (and that wasn't many when ever I went in) could see the terminal symptoms - "30% off everything throughout the store" as they struggled to clear a huge backlog of stock. NODL parted company with AARC and now administration beckons. Will anyone care enough or see the value in stepping in to save the European part of the business; will it continue to live in limbo with other former jewels of the UK fashion brand crown; or is this another in the seemingly endless and upsetting parade of UK retailers that once shone and have now gone? As always our first thoughts are with those dedicated staff immediately affected by the cuts and closures and hope that all are dealt with fairly and with consideration. https://lnkd.in/ez-caGvi

Exciting times lie ahead in the world of #fashion and #retail. Frasers Group, weathering the complexities of the business rate regime, drives further into the luxury space, leading a strategic move with the acquisition of Matches Fashion for £52m. ➡️ This bold move clearly sends a powerful message about the Group's commitment to progression and expansion, regardless of the challenge they believe the business rates regime presents. It's an inspirational example of perseverance, driving its own success rather than getting mired in circumstances. Here's what we might expect following this news: - An Improved Offering: The acquisition should ideally enhance Frasers group's existing brand portfolio and offer new luxurious pieces to its customers. - Competitive Edge: This brazen move could usher in new ways to compete in the crowded retail industry. - Innovation: We could expect to see unprecedented collaborations, technologies, and services coming from the Frasers Group and Matches Fashion union. Nevertheless, Michael Murray’s strong stance on the disaster of the current business rates system resonates with businesses UK-wide. Distress signals like these should indeed prompt an immediate reassessment and overhaul by government authorities. Mull over these insights while you read the full story here: [Frasers Group snaps up luxury clothing website Matches Fashion for £52m](https://lnkd.in/eu3PeXug) Always remember, challenges don’t stop giants. They merely spur them on to greater heights. What challenges are you transforming into stepping stones today? #BusinessStrategy #LuxuryFashion #Acquisition

I'm thrilled to share my latest article for just-style.com | The apparel industry news & information site: Explainer: How Labour's win will impact the UK apparel industry In this piece, I delve into what the Labour Party's landslide victory means for the UK apparel sector and wider supply chain over the next four years. A special thank you to the industry experts who provided invaluable insights: Helen Dickinson the Chief Executive of the British Retail Consortium, The British Fashion Council, Retail analyst Neil Saunders and senior retail analyst Pippa Stephens at GlobalData Plc, and Scott Parsons the Chief Operating Officer UK at Unibail-Rodamco-Westfield. Their expertise has been crucial in unpacking the potential implications of the new government's policies on our industry. From business rate reform to labour market changes, and sustainability initiatives to consumer spending predictions, this explainer covers the key areas apparel businesses need to watch. I invite you to read the full article and share your thoughts. How do you think Labour's victory will help reshape our industry? #UKFashion #RetailIndustry #LabourVictory #ApparelIndustry #BusinessRates #ShoppingTax #BFC #BRC #Sustainability #Consumerbehaviour #SpendingHabits #Labourmarket

Great reporting from BoF. We are not fashion experts, but we are empirical researchers with a vast network of HNW and UHNW members who consent to our research. And we observe and interact with them daily. I will be at a charity event at a home in Palm Beach tonight where UHNW style will be in full display. We have told you over the years that “quiet luxury” is a term that means little to HNW and UHNW individuals. They are all, first and foremost, individuals; yet they also belong to tribes. Most dress in great brands that deliver the highest quality, color variations, style and taste. Many wear bespoke clothing. And because these overachievers, men and women, are businesspeople and professionals with gravitas, they dress appropriately in their daily endeavors. That doesn’t mean they dress “quietly.” Our vast network of HNW and UHNW can be observed on Worth or Greenwich Avenues, Rodeo Drive, Mayfair and Chelsea, or Avenue Montaigne and Neuilly in fun colors and accessories. Lily Pulitzer patterns come to mind. At country and yacht clubs men wear their bright plain or plaid pants with their navy sport jackets. Hermes has always delivered playful colors. What the wealthy wear depends as much on the occasion/venue as their mood. Brands such as Loro Piana and Brunello Cucinelli need to be successful in more profitable and scalable leather goods. That’s where they’re headed and it won’t only be in “quiet” colors. “Not quiet” doesn’t mean “Screaming for attention.” Life is an optimum and every HNW and UHNW individual finds his/her own style over time.

Anya Hindmarch, a British entrepreneur and designer, has made her mark in the global fashion industry by turning creative concepts into sustainable, luxury accessories. As part of The InCAP magazine’s Branding Positivity, Branding Professionals (BPBP) campaign, Anya qualifies as a “Glorious Entrepreneur” for her innovative approach to business, commitment to sustainability, and leadership in the evolving world of fashion. 𝐌𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐧𝐭 𝐬𝐞𝐜𝐭𝐢𝐨𝐧. #AnyaHindmarch #BusinessMagazine

In 1992 I walked into a Covent Garden shop and quickly fell in love. Ted Baker had what were to my young Canadian eyes extremely stylish and fashionable clothing, and while the £ made my Canadian $ seem oh so small I splurged on some new threads. The quality was good and the product innovative, attractive, and durable with solid service. Ted Baker, the Glasgow based retailer had made a rather impressive scene in the UK #fashion world when they opened the Covent Garden flagship in 1990. The company went on to become a global success. Yet over the past weekend the notices came out that the brand owner is now planning to close all remaining shops in Britain making 245 full time staff redundant in the process. What happened? Firstly a botched #succession from founder Ray Kelvin to a leadership team not ready or able to execute it seems. Secondly a #Strategy which strayed far away from Quality and became a "low cost" high price seller repelled the formerly loyal customers. Ted Baker should never have ended up in the position it is in today, and I hope that all 245 full time employees in Britain are able to quickly find new high quality work. In terms of investors, board members, and managers, we need to all carefully consider: 1) Succession plans really make a difference to longevity 2) Strategy needs to be well aligned with customer and stakeholder expectations 3) Execution at speed and with quality is fundamental to long term success What do you think happened at Ted Baker ? Strategy is Mastery. https://lnkd.in/dTd3Gpif

Well done to everyone involved. It's a great outcome for both businesses and an exciting future ahead. For me, this is the third M&A story I got to experience, but the first one where I actually got to play a small role in. In 2006, I was at frog when it got acquired by KKR and became part of Aricent. I was a junior industrial designer / intern and didn't really pay attention to it. In 2013, I was at Fjord, Part of Accenture Song when it became part of Accenture. I was a designer, passionate about how design needed to become understood as a fundamental part of business strategy and commercial success. Turns out, both of these acquisitions were part of a bigger pattern of exactly this shift taking place. After more evolutions over the years, Frog is now part of Capgemini Invent. And other major consultancies like McKinsey, BCG or EY all have solid service offerings in the areas of Design Thinking, Product Innovation and Technology. For me personally, around that time it became clear that talking about "Product" is more useful than "Design", and that in-house is the place to be if you have a holistic approach and want to make great, innovative products happen in the market. In 2024, after 8 years doing "Product" at Unmade, I got to see our software become used by some of the largest and most innovative brands in the world. As a bonus (and the third M&A story I can now reflect on) I also got to play a small role in representing, explaining and connecting this software to a technology-focussed manufacturing business as part of the acquisition by Hi-Tech Apparel. I can't help but think this is also part of a bigger pattern in the wider industry. Perhaps one of vertical integration and on-demand production becoming the norm in apparel manufacturing. Ask me in a few years.

The Knight Frank Wealth Report is always an insightful read! 📈 This year's data on luxury goods versus the S&P 500 over the past decade, as depicted in the graphic below from Visual Capitalist, is particularly intriguing. Takeaway: Navigating the world of investments can be challenging, especially when it comes to picking winners. Rare bottles of Scotch, for example, are a tough nut to crack – let alone getting your hands on one! 🥃 On the flip side, if you had simply held 500 of the largest US companies, you'd have outperformed most of these luxury goods. 💼💰 This isn’t investment advice advocating solely for the US market, but sometimes, zooming out and holding onto the "boring" stuff isn’t so boring after all… Did you know that a bottle of The Macallan Adami 1926 sold for a staggering $2.7 million in 2023? Aged for six decades in sherry casks, only 40 of these were bottled in 1986, with most landing in the hands of Macallan's top clients – talk about lucky! For further insights, check out the full report: https://lnkd.in/g-qfZr37