Retail Diary - Week of March 4th 2024 - PFW & Resale News etc.

We've completed the fashion week marathon! I rounded up the rest of PFW and a few other notes. I dug into a reader question on resale, collabs, launches, trend hunting and more.

Mar 07, 2024

This Week's Topics:

PFW & final thoughts
Resale notes
Pearls & PJs
New Collabs, Launches, Investments, Corporate Moves, Stores & News
What else I ❤️️

🛍️ Quick note: I write a lot (too much good stuff to share!) so if you’re reading via email only, you may need to click through to the web version or read on the Substack app. I promise it will be worth it. 🛍️

PFW & final fashion week thoughts

Tim Blanks wrote a great recap on some of the final shows from Paris Fashion Week for Business of Fashion. There is a lot of love for Miu Miu, especially on social media - and it is well earned. Miu Miu sent out looks we wanted to wear and we felt fit our everyday life. I appreciated how Blanks linked Chanel Virginie Viard’s major chapeaux moment back to Coco Chanel’s hats.
Just a thought - Chanel seemed to lead with the Brand by showing a celeb studded (Penelope Cruz, Brad Pitt) movie vs leading with clothing/looks. It shows how strong the Chanel Brand is (I’m purposefully using the capital B in brand) and it is the Brand that helps sell the handbags (major volume driver) the beauty (major volume driver) and accessories in general - including shoes (major volume driver.) I’m not saying the clothing isn’t important, it just isn’t the first (or second) thought when I see this show. Although I am loving the shearling jacket with the shearling bag.
Personally I have complicated feelings with Balenciaga but it was interesting to see the unique and original invites that were sent via eBay (as Rachel Tashjian reports, Demna is questioning what value items hold in a digital world.) (gift link to read behind paywall)
After a few weeks of talking about how much we love the everyday and functional looks (we do! I do!) there is also the FASHION moment of seeing clothing on the runway that is meant for the runway and the spectacle of it all. From the article linked above, Tashjian wrote about this being one of Comme des Garcons best shows and how much it made the audience think. “Comme shows are intellectual playgrounds: You come in and your mind turns on, asked to travel and probe. I thought about the way people — especially women — are their own worst critics.”
And Tashjian’s thoughts on Sean McGirr and what he needs to do at McQueen.
I loved
Emilia Petrarca
recap of Fashion Week looks and it seemed like she jumped out of bed, threw on pearls and was ready to (fabulously) go about her day. Inspiration from Miu Miu setting the tone to the day.
In the chat on Tuesday we were discussing exciting items for Spring - and more dresses came up since they are often not the key item in fall/winter. Sacai spun that notion around and presented a runway full of dresses. Every item was a dress and Chitose Abe received many accolades for her presentation.
Coperni has used innovation and science to create viral conversation moments. They are also working hard to make their swipe bag drive the brand. The latest iteration is the Aerogel, or Air Swipe Bag. It is 1% glass and 99% Aerogel.
- What is Aerogel? a material that can withstand extreme heat and the pressure of 4,000 times it’s weight - why do we need a handbag made out of this material?
- The brand claims it can hold an iPhone.
- Read about it from Bazaar, The Cut and Fashionista.
- This isn’t the first time Coperni created a glass bag - which you can swing around (carefully) now. For other versions try this baby crystal embellished, this light pink or even this denim swipe on sale.
For more insights I suggest reading:
- Vanessa Friedman’s recap in the NYTimes here and again here for Balenciaga and Loewe.
- The Cut’s Cathryn Horyn reviews Yohji Yamamoto and Junya Watanabe here and the review of Hermés and The Row here.
- Now that we’ve seen The Row images if you want another recap with images included check out WWD.
- Great conversation between
  Amy Odell
  and
  Dana Thomas
  on Anna Wintour, Fashion Week and Wintour’s tenure.
- Color trends from NYFW - practicality was driving the direction of the trend. Colors that pair well with items already in our closets. I’m really into this beautiful palette. It seems like a more “winter woods” jewel tone with orange and burgundy toned reds, shades of green (which we were picking up on previously), blues and neutrals. What do you think?

Round-up of Rick Owens in the news recently

There was a lot of Rick Owens content so here is a mini round-up.

NYTimes Style Magazine piece by Nick Haramis, Photographs by Ola Rindal and Styled by Dogukan Nesanir. “Rick Owens, Fashion’s Patriarch of Freaks” talks about the inspiration and background of his life that speaks to a push and pull or two sides he seems to design from.
WWD Rick Owens video of the show from Fall/Winter 2024 out of his Paris apartment. He resurrected previous looks he had shown early in his career on Hollywood Boulevard for a sort of space alien in cashmere coats look.
The WSJ covered Owens’ workout routine, what he eats and his Morning Must-Haves.

Resale Notes

Substack has helped tremendously to engage over conversations around Fashion and Retail.

Teresa Wu

reached out and asked me this: “Hi sarah!! I had a content idea I’d love to read about / for someone to investigate—sending your way in case it might be in your wheelhouse… would love to learn more about the hand me Dôen sale, La Ligne’s re-ligne etc. what are the numbers behind them, are they growing in popularity, is this a trend lots of retailers are starting to do, where do you see in-house secondhand sales heading?” When I read this I felt energized and excited to dig into. Here are my personal thoughts and opinions:

I think back to when Rent the Runway first launched, and then businesses like CaaStle built the back-end to help brands bring rental or “clothing as a service” in-house and offer directly so they could own more of the revenue and the conversation (and data) with the consumer.
The RealReal, Vestiaire, Rebag, Thredup etc allowed brands and designers to see the bigger picture of consignment, resale etc. Of course it makes sense to own more of this revenue and also the brand marketing - how their brand is merchandised. Trove is one company that offers this back-end service. There is a lot of work involved to accept the products back, prepare them for resale and then manage the process. Some brands, like Stella McCartney, have worked directly with The RealReal on programs to support circularity in their business model. Other brands, like La Ligne and Dôen have built this closer to the central part of the organization and have on their own DTC1 site.
I think it works well for a company like Dôen (Hand me Dôen) where the brand is still relatively small or niche but has a huge devoted, passionate following. Many people are trying to track down “the one that got away.” Pieces they loved in prior collections. Now Dôen can provide this as a premium service. They limit when they offer it so it isn’t an integral part of their business, but a valuable piece to go deeper with their most important customers - those most loyal (or those looking for a good deal.)
Re-Ligne from La Ligne acts more like a focused Poshmark or eBay. La Ligne hosts the shop but you upload the item and then La Ligne posts and integrates the original photos of the products with the resale item. This is something that sites like The RealReal doesn’t do (and Poshmark only has it if the seller does it themselves.) Again, this is an opportunity to own more of the circularity but really be a part of the conversation with the customer. It is also a way to focus on sustainability, which the fashion industry still has a lot of progress to make.
Another brand who has committed to improving sustainability, Reformation, has RefRecycling. With this program you can either resell your clothing through ThredUp (and earn credit for new clothing) or return your Reformation clothing so the brand can recycle into new clothing. Again, this creates an opportunity to drive traffic to the store or engagement with the brand. Servicing the customer and keeping them loyal and puts their sustainability efforts more top of mind.
For the numbers I need to dig deeper as it isn’t broken down as these are mostly private companies. I would guess that the numbers are relatively small. Maybe around 1-2% of the total business. Not important though because the value is more in the service and ecosystem for the consumer. Likely these offerings help drive full-price products too. Returning purchasers and traffic is an important part of the business model overall - the customer journey and driving repeat customers.
As for popularity or if I think the programs/retailers/brands offering will grow - I think we saw many engaging when it was new (likely also in part from companies like Trove trying to onboard as many brands as they could) and now we are seeing a steady state. Designers/brands are focusing on the most important parts of their business to be successful (sustainable in the business sense vs environmental sense) and this might not be a top priority. But I could see how partnering with a third party like ThredUp or Trove could be successful if the customer is engaged.
What do you think? We can use the comments to chat about brands that are doing it well and what we’d love to see in the future. Also, if you have a question I should dive into you can now DM me.

Pearls & PJs

As we noted above, many are loving the Miu Miu looks from the Fall/Winter 2024 Runway presentation. Inspiration for wear now. Easy step is to grab a button down shirt and pearl necklace you already have and layer together with a long coat over. If you are looking to freshen up a little here are a few picks:

Go literal with pajamas J. Crew here or love the white with black piping here from Petite Plume.
For a less literal look, pair with a white button down here from Alex Mill, here from AYR and loving Chava Studios fit for a dressed up evening look.
Then layer on the pearls. A single strand that is simple and tuck around the collar. Almost like you slept in them (but I don’t recommend that.) Try Roxanne Assoulin, Loren Stewart, go luxe with Mikimoto, and I love this simple Starling pearl necklace (would also be a great graduation gift.)
Finalize the look with a mid-length coat like this from AYR or this from Quince.

All images linked above. Full round-up can be found here.

New Collabs, Launches, Investments, Corporate Moves, Stores & News

Collabed
- Aqua x Liat Baruch (the stylist - most recently known for the looks behind Sofia Richie Grange’s wedding) partnered with the Bloomingdale’s Private Label Brand for Spring Looks.
- Farm Rio x Adidas on a new collection - colorful and bright!
- Sweaty Betty x Merrell read more here
- Staud x Birkenstock new collection
- Anya Hindmarch partnered with Tony the Tiger for a London shop experience. I love her cheeky designs - I mean, have you seen this Kodak keychain (would be perfect hanging off a ladylike tote now) See the Kelloggs wallets here.
Launched
- Booth Moore wrote for WWD about two very interesting personal shopping services that recently launched from well-known personal shoppers and stylists in the industry working with the most high-end spending consumers and celebrities.
  - The Floorr was Cofounded by Net-a-porter vets Lupe Puerta and investor Carmen Busquets. They describe the business as a service to support personal shoppers as individuals who can grow their own businesses. The Floorr doesn’t hold any inventory but does take a commission.
  - Data from the article: “The Floorr has about 200 personal shoppers on the platform who can each generate a net of $1 million to $4 million a year, she said, and may have anywhere from 10 to 100 customers. The app has Hollywood stylists and Hermès sourcing experts among its ranks.”
  - Next there is Vêtir, which is an AI-driven smart shopping app, digital closet and styling platform created by Kate Davidson Hudson. Vêtir sounds like another swing at creating a digital closet (a la Cher Horowitz in Clueless) but one where stylists can work remotely directly with clients not in the same location.
- Deckers new sneaker launch is actually a relaunch of a previously acquired and shuttered brand Ahnu (acquired in 2009, shuttered in 2018.)
Invested
- Jennifer Fisher has an investment from Centric Brands which will allow her to expand her jewelry and lifestyle brands.
Corporate Moves
- Rent the Runway has a new CMO. Natalie McGrath has joined the company most recently the VP of Marketing at Afterpay.
- Alexa Cahill was announced as the new President at lingerie line Kiki de Montparnasse.
Stores & News
- Nordstrom’s is rethinking their Corner space in NYC. It is a great location (even though not on 5th Avenue it is close to Lincoln Center.) Nordstrom is launching a 2,000 square foot pop-up shop or “franchise for immersive experiences.” The first one is with Bode. They have already lined up future experiences in the space with Skims and Sanrio. It is a great way for brands without a large retail presence in NYC (their own store) to test out the opportunity and for Nordstrom to drive traffic to see the limited time space/experience.
- Macy’s in San Francisco’s Union Square is closing. Here is a bit about the history of the location and how Macy’s came to the West Coast in 1947.
- While The RealReal saw revenue drop 10% in Q4 2023, it did reach profitability by focusing on consignment margins. Reaching profitability was a major milestone for TRR.
- Stitch Fix is rethinking customer experience and how they are using data and AI to drive revenue.
- The UK Advertising Standards Authority has reversed their ruling over the fka Twigs Calvin Klein ad ban. (I wrote about the ban previously here.)
- Tony Spring, new CEO at Macy’s, is looking to bring success from his Bloomingdale’s experience to Macy’s. Namely improving the experience and customer service to elevate the products. As a Bloomingdale’s Alumni I especially loved this quote: ““He understands that retailing is theater,” said Michael Gould, who was Bloomingdale’s CEO from 1991 to 2014.”

What else I ❤️️

NYTimes created a column to interview journalist and editors regarding how they work. This month they featured and interviewed Vanessa Friedman and it is an insightful read if you are interested in how Fashion Journalism comes together.
Business of Fashion wrote about AI to help with forecasting, recycling and outlets and I do think AI is a great place to leverage forecasting. It cannot be done 100% by AI, because it is both an art and a science (when will a trend fizzle out?)
Enjoyed this Cut profile on Boutique owner (self identified merchant) and Founder of The Webster, Laure Heriard-Dubreuil
Lauren Sherman talks on the podcast The Town about the business behind dressing the stars for the Oscars and other events.
What Tweens are wearing these days - tiny tube dresses and sneakers. If you are looking for more tween marketing content I highly recommend
Casey Lewis
and her Substack
After School by Casey Lewis
(I’m a proud paid subscriber.)

What's Next?

A fun Sunday Scoop this weekend (lots of trends and some styling Substacks I can’t wait to share!) and Retail 101 Part Deux: Accounting & Markdowns - ready next week, and Spring Fashion Spirals out in two weeks or so. I still have that stack of magazines to flip through and I’m sure we’ll have Oscars news. Are you watching? Are we excited for Danielle Goldberg styled looks?

Thanks for reading Deep Dive Edition 155

Sarah Shapiro