Deep Dive - Week of September 16th 2024 - Why is it called Friends & Family Sale & the skinny on CAKE

I got the skinny on subscription membership platform CAKE, taking a deeper look at the history of Friends & Family sales, a new way I want to layer and all the fashion, beauty & retail news.

Thank you for requests on topics we dive into today. I have researched a few you requested and added to this Deep Dive. You’ll also find a recent fashion obsession of mine and the latest Fashion Month News.

This Week's Topics:  

• Friends & Family - History & PSA

• Craving: a new way to layer

• New Launches

• New Collabs

• New Store Openings

• The Business Section

  • Cake’s Recipe

  • LFW News

• What else I ❤️️ 

Friends & Family - History & PSA

Mid to late September, to get ahead of Black Friday and Holiday sales, many retailers and brands host their Friends & Family sales. Friends & Family events started as exclusive, insider events where department store employees could offer discounts to their personal networks. When I first worked at Bloomingdale’s in the Buying Office, each employee was given 40 cards. We were expected to send them to our key vendors/partners and then we could send to our actual friends and family. We would hand address each one and then put them in a box to be mailed out. In 2008, with the financial crash, other retailers started to see the writing on the wall of a challenging economic time for consumers. So this quiet & only offered to customers with a connection event became public. It soon became one of the deepest discounts of the season. And you no longer needed that special postcard with a promotional code to show you were in the inner circle.

Retailers saw the marketing potential in these limited-time sales, using them to drive traffic, a sense of urgency and customer loyalty. As competition in retail intensified, the friends & family sale grew into a major promotional tool, offering deep discounts and encouraging consumers to feel part of an exclusive shopping opportunity, often with early access or loyalty perks. Additionally, by building it up ahead of Black Friday (we’ll talk about the history of that event soon) retailers were able to build databases and SEO to help fuel Q4 sales.

Looking for where to shop Friends & Family this week?

• Frame Denim - Le High Straight is one of the pairs of denim I really love from the brand and they are on sale with Friends & Family. 25% off (some exclusions on the site.) I shared more of my Frame Denim loves with

  Jane Herman
  this week in her post “Substackers' Jeans”

• Tuckernuck - Here I would suggest checking out their Private Label Cashmere program, brands like Loeffler Randall and Apiece Apart, their workwear edit and outerwear.

• Bloomingdale’s - department stores for one stop shopping covering many categories and brands. Like a Theory dress, my favorite Alo Yoga leggings, Men’s John Varvatos leather jacket, J.W. Anderson JWA Corner Bag or a Polo Ralph Lauren Teddy Bear sweater.

• Neiman Marcus - check out your favorite designers that often don’t go on sale. Brunello Cucinelli, Proenza Schouler, Alemais and Zankov as a few examples.

• Not F&F, but similarly, Bluemercury is running their 25th Anniversary Sale. A great opportunity to stock up on items like this Vitamin C, the Rich Cream and this body oil I use daily.

Craving: a new way to layer

Welcome to the inner workings of my brain. I’m taking something that is so small, I don’t even think we can call it a micro-trend yet, and I’m going to break it down so we can talk about the retail insights and how the fashion industry moves. Maybe later this season we can say it truly was a micro-trend but for now I’m enjoying something new.

• The tiniest pebble of a micro-trend. How a trend could get started.

  • First, I spotted Morgan Stewart McGraw on Instagram posting her look going to the U.S. Open wearing her new Renngli Studio drop. She was wearing a tank on top with a long sleeve knit underneath. What caught my eye was that it was 1) pointelle 2) a matching set but not a cardigan and tank. Felt a little ‘90s and in a fresh way. I liked the items but not the price to try something out, and it wasn’t available in black, which is what I wear 90% of the time.

  • Second, I’ve been watching the Hulu documentary series “In Vogue: The ‘90s” and noticed the incredibly fashionable stylist Camilla Nickerson was wearing a gorgeous black knit ribbed tank with a long sleeve knit underneath. Now I start searching for my own because I’m loving this look and I feel like I should be able to piece it together. Pointelle or rib knit.

  • Third, from

    Sogole Kane
    (who has an excellent Substack
    Another Fashion Newsletter
    ). She posted this image of her own (old) Zara pairing (see screenshot below.) I immediately messaged her to confirm it was the look I was after - that she was seeing it too. And yes, she also noticed the styling on Morgan Stewart McGraw and dug into her closet to create.

  • And while not exactly the same look, I love this pairing from TWP of the Next Ex shirt (I just ordered for myself) with the ribbed knit underneath. I will get a lot of use out of these thin knits and it is a small way for me to try something that feels exciting, fresh and “trendy” even though my style is more timeless than trendy. Plus, I can break the pieces up and keep wearing over and over when(if) I’m done with the two-fer.

  • Another reason I think this is trending - last fall we really leaned in to the sweater as a scarf, two heavy sweaters layered together, a scarf tied cross body etc. This felt fresh and new. A new season means we need to iterate again.

Now for the Retail Insights - thanks for sticking with me here.

• More sweaters = more sales. Increased AOV. Don’t just buy the knit tank, you need to layer with the long sleeve knit too.

• Seasonally a huge win. It is September and growing up you might have remembered wearing heavy knits at this time. With more social media serving us wear now looks and warmer climates (it will be 95 degrees this week in CA) I’m not about to layer heavy sweaters. But I can get a handle on a knit tank top. Other locations where it is cooler can get behind a long sleeve thin knit. This way one retailer can merchandise these looks in many different ways.

• These styles are basics and core. They have a longer selling period. No need to markdown as quickly.

• Cardigans might feel a little too classic and Jackie O. (I love this style too) BUT the new twinset of a knit tank and a long sleeve rib feels fresh. You could also just wear the tank on the outside of a buttoned up cardigan.

• Other moments in twin set history:

  • Jackie Kennedy Onassis

  • Michelle Obama in J. Crew many times during Barack Obama’s campaign and Presidency.

  • Katie Holmes wearing the Khaite Cardigan & Sweater Bra (and on TRR): 2019

Are you sold yet? If so check these out:

• Sold out Renngli Studio. I wouldn’t be surprised it if came back. With the brand’s business model of drops they could easily bring back and add another darker color. Long Sleeve and the tank is still available in a L.

• Skip the sweater set and go for a pointelle long sleeve and pointelle tank. I’m a broken record (or just reinforcing a point-elle) but pointelle is trending. Also, I loved this Leset interview with Founder Lili Chemla on the Everyone Gets Dressed Podcast this week with Liv Perez.

• Quince has this ribbed tank and the same ribbed long sleeve and priced super sharp. I’ve ordered these to try and see the quality.

• J.Crew this looks like the perfect black tank to use. I ordered this one also.

• TWP has the ribbed long sleeve and a knit tank. These are both in merino wool or you can do the long sleeve in the cotton silk and the tank here.

• This Attersee tank is exactly what I’m looking for. Note it is final sale and limited sizes. I have the cardigan* of it and love!

  

  1 week, the start of a could be trend. I’m into the tonal tank and thin sweater look and can’t wait to replicate.

New Launches

Fashion Launches

• To celebrate Old Navy’s 30th Birthday they brought back all kinds of items, trends and imagery from 1994. If you are still looking for a barn or utility jacket, Old Navy also has this great 1994 version.

• Freda Salvador launched their Fall Drop 2 collection and (swoon) amazing studs. I’m loving these ballet flats. (Use code RETAILDIARY15 to receive 15% off for first time customers on full priced styles.)

• G. Label launched their latest fall delivery with sweaters in rich jewel tones. The knit midi skirt pairs with the sweaters really well too.

• Cos launched a great version of the scoat (scarf-coat) available in black, pinstripe and ivory with a matching skirt.

• Dorsey launches their latest Fall Collection today and I’m loving the graduated necklaces, mix of emeralds and the layering pieces.

Beauty Launches

• Glossier launched 3 new Glassy Lip Glosses in collaboration with the WNBA.

• And on the Fragrance front, I read in Rachel Strugatz’s report for The Line Sheet that Glossier’s big moment that they were teasing wasn’t a relaunch of Play but is about the TWO NEW FRAGRANCES that are coming in October. I really like Glossier’s You, so I’m excited to see what they come up with next.

• Katie Sturino
  ’s brand Megababe has launched Butt Stuff, hemorrhoid ointment, which helps rapidly relieve pain, itching, and shrink swollen tissue, all while nourishing the skin with botanical extracts. Megababe, the brand that's all about tackling those hush-hush everyday issues, is shaking things up with their newest launch that is not only clean and effective, but also tries to take the stigma out of what is traditionally embarrassing products.

New Collabs

• Reformation x Kacey Musgraves is now live. Now I just need to pick out what I’m wearing the the concert next week (I’m so excited to go with a couple of friends.)

• Going for gold: Athleta x Simone Biles.

• Celebrity stylist Jamie Mizrahi collabs with Minnow, family focused swimwear brand.

New Store Openings

• I love Fillmore Street in San Francisco and I’m thrilled that Catbird is officially opening in this fun fashion neighborhood. Catbird, is a beloved Brooklyn-based jewelry brand and is set to charm San Francisco with its first West Coast storefront opening on Fillmore Street on September 18th. Known for their timeless, ethically-sourced designs and innovative "Zap Bracelets" (aka permanent jewelry) Catbird will celebrate their arrival with exclusive San Francisco-inspired charms and a weekend of special events. This expansion marks a significant milestone for the brand as it coincides with their 20th anniversary, bringing their unique blend of demi-fine jewelry and community-focused retail experience to the Bay Area. I’ll be visiting soon and will share my notes.

• Khaite has opened a new location in Highland Park Village (Dallas, TX.) A few interesting details:

  • PE firm Stripes invested in Khaite in early 2023. Investment is likely what was able to fund the retail stores being built and opening.

  • WWD noted that Khaite passed the $100 million dollar mark. More notes on why that is important here.

• Leset, the L.A. based RTW brand with elevated basics (and fantastic sets) has opened their first location at 380 Bleeker Street. Above I linked to a great podcast interview with the brand. Some of my favorite Leset items are: this t-shirt, a combo pack, this classic in red for a pop this season and easy pants.

• Scandinavian rainwear brand Rains is opening in Milan. If you want to check out the brand, this is a great jacket I saw at BG and retails for a sharp $110.

• Varley is opening its first US flagship in Soho next month, marking a significant milestone as the brand celebrates its 10th anniversary. The leisurewear company has shown impressive growth, doubling its revenue from $44 million to $83 million in the past year. This success stems from a strategic omnichannel approach, balancing e-commerce with a strong wholesale presence across over 1,000 retailers. Varley's upscale and chic London stores have set a high standard, which they aim to replicate in the US. With this expansion, the brand plans to double its revenue again in the coming year, leveraging its retail growth and omnichannel strategy in the competitive leisurewear market. (Their materials are really fantastic and I love the cuts. I have this jacket and I wear it at home as an extra layer, to run my kids to school or on the sidelines during kids sports.)

The Business Section

Cake’s Recipe

In my Substack subscriber chat I asked what retail industry questions I could help with today. I received multiple requests about the new platform CAKE - what was it, why is it popping up etc. I reached out to a few members that use,

Irene Kim (김애린)

who recently partnered with them and with the CAKE team to ask a few questions.

Retail Diary: For Retail Diary readers who may be seeing Cake promotions for the first time, could you briefly explain the key benefits and features of the program?