Bloginity’s Appointment with ELLE’s Kyle Anderson
Senior Accessories Editor Kyle Anderson (@KyleEditor) didn’t let growing up in a small suburban town get in the way of his dream of working in fashion. Interning at magazines like Vogue and Esquire, Kyle found his home at Elle Magazine six years ago. Daniel Haim has a chat with Kyle as he talks about his early adventures in the big city, the must have items of the year, his favorite designers, and why a Birkin is longterm investment in your future.
Daniel: I had a great time getting to know you at dinner last week and I must say I am so intrigued by your talent and want to share your story with the world. Tell us about yourself- where did all of this begin?
Kyle: Actually, I knew even in kindergarten, that I wanted to work in fashion. I was obsessed with clothes. My best friend and next door neighbor growing up had a mom who was obsessed with shopping and for vacation and weekends we would do nothing but go to malls and look at clothes, buy magazines and talk about designers. I grew up in a small suburban town, but in our minds we were really connected to what was going on in fashion.
Whenever my parents asked me what toy I wanted I would only want clothes. When I was in middle school, I’d go to the public library after school and read magazines like W, ELLE and Vogue and at that time I remember I was obsessed with the huge oversized ads in W and would ask my parents to buy the magazine for me so I could rip out the Chanel ads. I was really crazy about Chanel.
In high school, I thought maybe I wanted to be a fashion designer. In college I studied international business and finance, but wanted to quit to go to FIT. My parents talked me into staying and getting my business degree but immediately after graduating I moved to NYC and started interning at Esquire the day after I graduated. I also started taking classes for fun at FIT. Right away I knew I didn’t want to be a designer, and by the end of my first day of my internship I was obsessed with getting a job at a magazine. I interned at all different types of magazines. Esquire, COSMOgirl, Marie Claire, Vogue and ELLE. When I started interning at ELLE I remember thinking I don’t care how long it takes to intern – even if I have to work here 3 years unpaid, I’d rather be doing this than anything else in the world. The people who worked at ELLE seemed so cool to me. A group of people who really had good taste and had such an intense passion for finding cool things. I knew that this was the place I was meant to be. They were on the cutting edge of what were the newest, coolest, chicest clothing and accessories.
One day I was asked to do freelance work for ELLE. I couldn’t have been happier. It was supposed to be for 90 days. After a week our fashion director, a woman who has been the biggest influencer and supporter in my life, called me into her office and said, ” shut the door and sit down”. She said “I’m hiring you today.” It was a moment that really changed the rest of my life. That was 6 years ago and I’m still at Elle.
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Tuesday, June 21, 2011
Tuesday, May 17, 2011
Sensational designer replica handbags
Sensational designer replica handbags
Undoubtedly designer replica handbags are one of the most significant types of fashion accessories out there in the global market place in this point in time. Greatly, it can be vibrantly used for more than enough reasons from cultural rituals to social gatherings, from carnivals to weddings and from birthday anniversaries to many others. Most fantastically, they are marvellously robust, carved and durable purses for the most elegant and grace ladies in the world today. Realistically these types of dynamic luxury designer replica purses can be beautifully made form most appropriate and suitable tools and techniques on the web, so that you will be indeed able to gratify your personal needs wonderfully.
Currently, hundreds of replica handbags shops have been emerged over the World Wide Web, which are offering the most professional and affordable designer handbags services to their valued customers globally. If you are in search of most elegant and dynamic looking glossy designer replica bags, please feel free to contact with online handbags shop right away. It will definitely provide you the best handbags according to individual needs and requirements online efficiently as well as cost effectively. Greatly, there are many kinds of sensational designer replica handbags on hand on the web these days, such as Cartier, Mont Blanc, Ferrari, Hermes, Louis Vuitton, Michael Kors, Fossil, Prada and Chanel purses.
In addition to that, we cannot overlook the versatility and grace of Marc Jacob handbags, Jimmy Choo, and Coach purses by any means. Bear in mind that you cannot find the match and uniqueness of such types of luxury designer replica bags at online replica handbags shop than any other purses shop on the web at all. The fact of the matter is that company always produces your designer purses by means of most valuable and cost effective materials. For that reason, its handbags are not called as fake handbags. Rather they are typically known as original designer bags online. Costs wise, it is very affordable bag to pay money for it. When it comes to the value and worth, bear in your own mind that designer handbags replica of online bags shop are very stylish, worthwhile and competitive handbags online. So, please don't hesitate to grab its most emphatic and elegant designer purses on the web at all.
In short, we can say that designer fake handbags are very sensational and luxurious kinds of handbags of the company online. For that reason, it always offers you the most valuable, prestigious, reliable and durable designer fake purses along with affordable price rates worldwide.
Undoubtedly designer replica handbags are one of the most significant types of fashion accessories out there in the global market place in this point in time. Greatly, it can be vibrantly used for more than enough reasons from cultural rituals to social gatherings, from carnivals to weddings and from birthday anniversaries to many others. Most fantastically, they are marvellously robust, carved and durable purses for the most elegant and grace ladies in the world today. Realistically these types of dynamic luxury designer replica purses can be beautifully made form most appropriate and suitable tools and techniques on the web, so that you will be indeed able to gratify your personal needs wonderfully.
Currently, hundreds of replica handbags shops have been emerged over the World Wide Web, which are offering the most professional and affordable designer handbags services to their valued customers globally. If you are in search of most elegant and dynamic looking glossy designer replica bags, please feel free to contact with online handbags shop right away. It will definitely provide you the best handbags according to individual needs and requirements online efficiently as well as cost effectively. Greatly, there are many kinds of sensational designer replica handbags on hand on the web these days, such as Cartier, Mont Blanc, Ferrari, Hermes, Louis Vuitton, Michael Kors, Fossil, Prada and Chanel purses.
In addition to that, we cannot overlook the versatility and grace of Marc Jacob handbags, Jimmy Choo, and Coach purses by any means. Bear in mind that you cannot find the match and uniqueness of such types of luxury designer replica bags at online replica handbags shop than any other purses shop on the web at all. The fact of the matter is that company always produces your designer purses by means of most valuable and cost effective materials. For that reason, its handbags are not called as fake handbags. Rather they are typically known as original designer bags online. Costs wise, it is very affordable bag to pay money for it. When it comes to the value and worth, bear in your own mind that designer handbags replica of online bags shop are very stylish, worthwhile and competitive handbags online. So, please don't hesitate to grab its most emphatic and elegant designer purses on the web at all.
In short, we can say that designer fake handbags are very sensational and luxurious kinds of handbags of the company online. For that reason, it always offers you the most valuable, prestigious, reliable and durable designer fake purses along with affordable price rates worldwide.
replica handbags become more acceptable in the whole world
replica handbags become more acceptable in the whole world
In recent years, designer replica handbags are becoming more and more popular in every corner of the world. There are thousands of people who desire to own a genuine exquisite handbag, however, few of people can realize their dreams. Because the price of the first designer real handbags is extremely high. As a result, the delicate replicas or imitations swept the handbags market by storm completely and take the primary position in the market. Their appearance meets the requirements for the majority ordinary persons.
Nowadays, fashion designer accessories have lead a vital position in the global market. More and more persons are paying more attention to make themselves fashionable. The high product sales exactly show those famous stylish designers are gaining more popularity. Naturally, it leads higher prices of designer goods and fashion accessories. Women's designer handbags are no exception. But the appearance of the exquisite duplicate handbags or the replicas exactly caused the anxiety of globally reputed fashion designers.
There are different kinds of delicate replicas in the handbags market. As the authentic items, designer imitations also have various sizes, quality and shapes. No matter on-line business or off-line business, there are lots of available designer handbags waiting for you. Some of them are very popular by trendsetters, because they are similar to the real ones that no one can easily distinguish them.
Today, designer replicas are filled in the whole market. Famous branded handbags, such as Chanel, Gucci, Prada, Chloe, Burberry, Dolce & Gabbana and other brands are all have the replicas. These fine imitations are generally known as "handbag knockoffs" due to their identical outlook and the similar quality. Because of their completely similar appearance and the exactly same texture, such fine duplicate goods can be the excellent accessories for females to attend formal social events, gatherings, special ceremonies and other important occasions. Carrying these exquisite duplicate handbags will also make you dazzling and become the focus in the crowd.
In modern society, it is very easy for you to find delicate replicas. Searching on-line or buying these fine "knockoffs" in many stores and outlets are all available. In these stores, you can gain these replicas at reasonable prices and are of high quality. They are the perfect goods for persons who cannot afford the authentic fashion handbags.
Due to the lower prices, fashion lovers always buy several types of exquisite imitations to prepare for various situations. Maybe you will worry that purchasing more bags will spend you much money. Actually, the on-line shops often hold promotion activities, the price will not be very high. Wholesale replica handbags is also available. If you buy these fashion designer handbags online, it will be more convenient. Because the goods will be delivered to your door without going outside. What are you still hesitating? Surfing on-line to find your favourite.
In recent years, designer replica handbags are becoming more and more popular in every corner of the world. There are thousands of people who desire to own a genuine exquisite handbag, however, few of people can realize their dreams. Because the price of the first designer real handbags is extremely high. As a result, the delicate replicas or imitations swept the handbags market by storm completely and take the primary position in the market. Their appearance meets the requirements for the majority ordinary persons.
Nowadays, fashion designer accessories have lead a vital position in the global market. More and more persons are paying more attention to make themselves fashionable. The high product sales exactly show those famous stylish designers are gaining more popularity. Naturally, it leads higher prices of designer goods and fashion accessories. Women's designer handbags are no exception. But the appearance of the exquisite duplicate handbags or the replicas exactly caused the anxiety of globally reputed fashion designers.
There are different kinds of delicate replicas in the handbags market. As the authentic items, designer imitations also have various sizes, quality and shapes. No matter on-line business or off-line business, there are lots of available designer handbags waiting for you. Some of them are very popular by trendsetters, because they are similar to the real ones that no one can easily distinguish them.
Today, designer replicas are filled in the whole market. Famous branded handbags, such as Chanel, Gucci, Prada, Chloe, Burberry, Dolce & Gabbana and other brands are all have the replicas. These fine imitations are generally known as "handbag knockoffs" due to their identical outlook and the similar quality. Because of their completely similar appearance and the exactly same texture, such fine duplicate goods can be the excellent accessories for females to attend formal social events, gatherings, special ceremonies and other important occasions. Carrying these exquisite duplicate handbags will also make you dazzling and become the focus in the crowd.
In modern society, it is very easy for you to find delicate replicas. Searching on-line or buying these fine "knockoffs" in many stores and outlets are all available. In these stores, you can gain these replicas at reasonable prices and are of high quality. They are the perfect goods for persons who cannot afford the authentic fashion handbags.
Due to the lower prices, fashion lovers always buy several types of exquisite imitations to prepare for various situations. Maybe you will worry that purchasing more bags will spend you much money. Actually, the on-line shops often hold promotion activities, the price will not be very high. Wholesale replica handbags is also available. If you buy these fashion designer handbags online, it will be more convenient. Because the goods will be delivered to your door without going outside. What are you still hesitating? Surfing on-line to find your favourite.
Sunday, May 15, 2011
Why Designer Handbags are Worth the Extra Investment
Why Designer Handbags are Worth the Extra Investment
Some people would say that designer handbags are not worth the extra money. However, there are many people who feel the opposite. Designer handbags are, in most cases, always worth the investment, especially if you have the right designer bag and you care for your handbag the way you should.
In caring for your handbag, you want to make sure that you do not allow it to 'outlast' its season, and when you do put it away for the season you should make sure it is clean and free of dirt and debris. A good conditioner should be used on your handbag once you have cleaned it with a mild cleanser made specifically for that purpose. Finally, you should encase your handbag in something meant to keep it dry and unexposed to the elements. So long as you are taking proper care of your handbag, you should be able to protect your investment.
Buying a designer handbag can be an investment. Depending on what type of material you are purchasing and who the designer is, it can cost you anywhere from five hundred to well over a thousand dollars for a designer bag. Some handbags are in the five thousand dollar range! Certainly, with a price tag like this you will want to know that you are making the right decision buying such a hefty item.
The designer's name and label is a reason in and of itself. People pay top dollar for a Versace or Gucci bag is because that particular designer is synonymous with quality. For example, you will never find a Versace or Gucci handbag that does not have impeccable lines and perfect stitching. Not only is the stitching beautifully done, but it is done in such a way that guarantees there will be no frays, pulls, or coming undone of the handiwork.
The materials used will be the finest quality, with leather generally from Italy or France. There will never be any dark spots, blemishes, or parts of the leather that seem discolored or in some way shaded differently than the other parts of the bag. The leather should be extremely soft and pliable, yet it will also hold up and stay in its originally strong condition for years to come. One other consideration is the metals that are used. Even if the handle is not metal, chances are there will be metal clasps at the very least on your handbag. If you go with a designer handbag, you can make certain these are also of the finest quality.
A designer handbag is a welcome accessory to almost any outfit, and is more easily transferrable than some other handbags. This makes it a better investment than your 'average purse', because it is interchangeable with casual jeans and the fanciest of dresses. Especially if you happen to have a black designer handbag that is not too large, this type of bag can be so versatile and you will get the most mileage out of this bag.
Another reason you want a designer handbag is that it generally comes with a warranty and you can register your specific handbag. This is because each one is specially made, and the designers stand behind their product. Since it is not mass produced or sold at stores like Target or other inexpensive, huge market places, you can rest assured that your bag will get the special attention it deserves right from the very beginning.
Your handbag will also get the attention it deserves just by virtue of the fact that you are carrying such a thing of beauty on your arm or shoulder. Let's face it, the real reason we want to invest in designer handbags is because of the way they look! First and foremost, it's all about the looks. You can 'get away with' a lot more in a handbag if it is made by a noted designer than you can if it is made by your average Joe. You can wear a brighter, more dazzling or bolder bag than you would be able to if it didn't bear that special designer's name.
It helps, of course, if you have recently seen your bag being carried by someone in the rich and famous circle or walking down the red carpet with your bag on her arm. Many times, this alone will cause someone to make that investment but this should not be reason enough for you. The truth of the matter is these bags are worth it because of the time, care, quality and style that true top designers bring to the table. If you can afford a designer handbag, it is well worth the extra investment. You will be sure to enjoy it for years to come.
Some people would say that designer handbags are not worth the extra money. However, there are many people who feel the opposite. Designer handbags are, in most cases, always worth the investment, especially if you have the right designer bag and you care for your handbag the way you should.
In caring for your handbag, you want to make sure that you do not allow it to 'outlast' its season, and when you do put it away for the season you should make sure it is clean and free of dirt and debris. A good conditioner should be used on your handbag once you have cleaned it with a mild cleanser made specifically for that purpose. Finally, you should encase your handbag in something meant to keep it dry and unexposed to the elements. So long as you are taking proper care of your handbag, you should be able to protect your investment.
Buying a designer handbag can be an investment. Depending on what type of material you are purchasing and who the designer is, it can cost you anywhere from five hundred to well over a thousand dollars for a designer bag. Some handbags are in the five thousand dollar range! Certainly, with a price tag like this you will want to know that you are making the right decision buying such a hefty item.
The designer's name and label is a reason in and of itself. People pay top dollar for a Versace or Gucci bag is because that particular designer is synonymous with quality. For example, you will never find a Versace or Gucci handbag that does not have impeccable lines and perfect stitching. Not only is the stitching beautifully done, but it is done in such a way that guarantees there will be no frays, pulls, or coming undone of the handiwork.
The materials used will be the finest quality, with leather generally from Italy or France. There will never be any dark spots, blemishes, or parts of the leather that seem discolored or in some way shaded differently than the other parts of the bag. The leather should be extremely soft and pliable, yet it will also hold up and stay in its originally strong condition for years to come. One other consideration is the metals that are used. Even if the handle is not metal, chances are there will be metal clasps at the very least on your handbag. If you go with a designer handbag, you can make certain these are also of the finest quality.
A designer handbag is a welcome accessory to almost any outfit, and is more easily transferrable than some other handbags. This makes it a better investment than your 'average purse', because it is interchangeable with casual jeans and the fanciest of dresses. Especially if you happen to have a black designer handbag that is not too large, this type of bag can be so versatile and you will get the most mileage out of this bag.
Another reason you want a designer handbag is that it generally comes with a warranty and you can register your specific handbag. This is because each one is specially made, and the designers stand behind their product. Since it is not mass produced or sold at stores like Target or other inexpensive, huge market places, you can rest assured that your bag will get the special attention it deserves right from the very beginning.
Your handbag will also get the attention it deserves just by virtue of the fact that you are carrying such a thing of beauty on your arm or shoulder. Let's face it, the real reason we want to invest in designer handbags is because of the way they look! First and foremost, it's all about the looks. You can 'get away with' a lot more in a handbag if it is made by a noted designer than you can if it is made by your average Joe. You can wear a brighter, more dazzling or bolder bag than you would be able to if it didn't bear that special designer's name.
It helps, of course, if you have recently seen your bag being carried by someone in the rich and famous circle or walking down the red carpet with your bag on her arm. Many times, this alone will cause someone to make that investment but this should not be reason enough for you. The truth of the matter is these bags are worth it because of the time, care, quality and style that true top designers bring to the table. If you can afford a designer handbag, it is well worth the extra investment. You will be sure to enjoy it for years to come.
Thursday, May 12, 2011
About buying the replica handbags
About buying the replica handbags
Replica handbags are a cost effective option in the accessories that are considered fashionable. While the original and the genuine designer or the branded handbags cost a fortune, the gucci handbags on the other hand, allow the women not only in saving money, but also enjoying the looks and the feel similar to that of the original handbags. This is the reason whether it is the large handbags or the petite clutches, the women are seen flaunting these handbags at the various occasions in their lives. The replica handbag manufacturing industry has advanced its technology and approaches in refining the methodologies to produce the options in the handbags that can hardly be differentiated from their original models. Some of the housewives have even taken up selling the replica handbags as a side business to augment their savings in this time of recession. However, when buying the replica bags, the individuals should make sure to select the reputed stores, so that they do not end up buying the fake handbags that are easily identifiable by others. One of the best ways to enjoy better bargains on the prada handbags is to buy them through the World Wide Web. One can make use of the various reputed search engines online to generate a list of the online retails or the e-stores dealing in the replica bags. When selecting the online retails dealing in the replica handbags it is always suggested that the individuals avoid the sponsored links.
When selecting the replica handbags, make sure to get the specification of the original model of the handbags as well. This will make it easier for the individuals to compare the replica handbag attributes with the original ones. The replica handbags should not miss out on any functional or the design feature. If it does, it is considered as a fake handbag and not a replica handbag. Make sure that the retails provide all the additional accessories like the warranty cards and the dust proof bags etc. along with the replica bags. Also, one should pay special attention to the logos and the badges on the handbag as any difference in the same, will classify the bags as fake and not the replicas. When buying the replica online handags, always make sure to pay through the secured online money transferring systems. It is important to read through the delivery and exchange policies of the online retails dealing in the prada handbags before making the purchase from the same. Those who want to get an idea of the trendy bags and colors of the season can also, check out the various fashion magazines of the current season.
Replica handbags are a cost effective option in the accessories that are considered fashionable. While the original and the genuine designer or the branded handbags cost a fortune, the gucci handbags on the other hand, allow the women not only in saving money, but also enjoying the looks and the feel similar to that of the original handbags. This is the reason whether it is the large handbags or the petite clutches, the women are seen flaunting these handbags at the various occasions in their lives. The replica handbag manufacturing industry has advanced its technology and approaches in refining the methodologies to produce the options in the handbags that can hardly be differentiated from their original models. Some of the housewives have even taken up selling the replica handbags as a side business to augment their savings in this time of recession. However, when buying the replica bags, the individuals should make sure to select the reputed stores, so that they do not end up buying the fake handbags that are easily identifiable by others. One of the best ways to enjoy better bargains on the prada handbags is to buy them through the World Wide Web. One can make use of the various reputed search engines online to generate a list of the online retails or the e-stores dealing in the replica bags. When selecting the online retails dealing in the replica handbags it is always suggested that the individuals avoid the sponsored links.
When selecting the replica handbags, make sure to get the specification of the original model of the handbags as well. This will make it easier for the individuals to compare the replica handbag attributes with the original ones. The replica handbags should not miss out on any functional or the design feature. If it does, it is considered as a fake handbag and not a replica handbag. Make sure that the retails provide all the additional accessories like the warranty cards and the dust proof bags etc. along with the replica bags. Also, one should pay special attention to the logos and the badges on the handbag as any difference in the same, will classify the bags as fake and not the replicas. When buying the replica online handags, always make sure to pay through the secured online money transferring systems. It is important to read through the delivery and exchange policies of the online retails dealing in the prada handbags before making the purchase from the same. Those who want to get an idea of the trendy bags and colors of the season can also, check out the various fashion magazines of the current season.
Monday, May 9, 2011
Prada, which has had an on-again
Prada, which has had an on-again, off-again initial public offering for over a decade, will finally list on the stock exchange this year but don’t expect that to happen in Italy. The company has chosen Hong Kong as the place
to list. At press time, the IPO was scheduled for July and the timing couldn’t be better. Prada’s net profit for the year ended January 31 was €250.8 million ($342 million), a 150.4 per cent increase on the previous year. Banca IMI-Intesa Sanpaolo Group owns 5 per cent of Prada; Miuccia Prada and her husband and CEO, Patrizio Bertelli, own the remaining 95 per cent. According to WWD, the Hong Kong IPO will be a listing of a 20 per cent stake that could value the company at $US9.5 billion.
Prada’s revenue from China increased by 75 per cent for 2010 to €389 million, which is approximately 20 per cent of the total turnover for the company. It has 14 stores in mainland China, nine in Hong Kong and two in Macau. This year the company plans to open nine stores on the mainland in cities such as Harbin, Guangzhou, Changchun and Hangzhou and another 11 in 2012.
Tapping China’s appetite for luxury goods requires investment. Right now Hong Kong has the hottest stock exchange in the world for IPOs (French company L’Occitane listed there last May) and its investors understand this appetite. Credit Lyonnais Securities Asia expects consumers from Greater China (which includes Hong Kong, Macau and Taiwan) as well as Chinese nationals who purchase abroad to account for 44 per cent of global luxury sales by 2020, up from 15 per cent now. Overall, CLSA expects the Chinese market for luxury goods to grow at about 25 per cent per annum for the next five years, followed by about 22 per cent thereafter. What that means in monetary terms is a €74 billion domestic luxury market in China by 2020. Add to that the €86 billion Chinese tourists are expected to spend on luxury goods when abroad and by 2020 China will be purchasing luxury goods totalling the equivalent of today’s entire luxury market.
Staging elaborate, expensive fashion shows is only one part of the strategy to seduce wealthy Chinese. Compared with other luxury brands in China, Chanel is relatively underdeveloped. It has eight stores in mainland China, six of which carry ready-to-wear and two jewellery and watches. Chanel’s small footprint, however, didn’t stop it from holding a spectacular event in Shanghai in late 2009. Designer Karl Lagerfeld staged a fashion show on a custom-built barge on the Huangpu River with Pudong’s neon-lit futuristic skyline as a backdrop. The Paris-Shanghai Metiers d’Art Collection, as it was called, consisted of 71 looks inspired by “the idea of China, not the reality,” he said. Since then Chanel has done much to subtly educate Chinese customers. It partnered with the Museum of Contemporary Art in Shanghai to stage Culture Chanel, a retrospective of Coco Chanel’s life, the aim being to teach Chinese customers about the culture of the House of Chanel. It was also a sales pitch.
Christian Dior, on the other hand, created a special version of its best-selling Lady Dior handbag and shot the print advertisement for the bag in Shanghai. Diane von Furstenberg has two stores in China: one opened four years ago in Shanghai, the second last year in Beijing. According to an interview she gave Newsweek last month, the Beijing store has already exceeded its initial sales projections by 30 per cent. To further raise her profile, von Furstenberg threw a party in the Shanghai studio of conceptual artist Zhang Huan for more than 500 people, including actress Jessica Alba and shoe designer Christian Louboutin (who also plans to open stores in China). She followed that with an exhibition called Diane von Furstenberg: Journey of a Dress at the Pace Beijing gallery, the first big New York gallery to open a branch in the Chinese capital. The exhibition runs until May 14 and features portraits of the designer by some of the most celebrated artists of the past four decades, including Andy Warhol and Helmut Newton, along with a retrospective of DVF fashion spanning the past 40 years.
Louis Vuitton, one of the first luxury brands to open a store in China, is also going down the exhibition and education path. Last year Louis Vuitton, which operates stores in 29 Chinese cities, partnered with the French Pavilion at Shanghai Expo and this month an exhibition opens at Beijing’s National Museum of China featuring the brand’s trunks and innovations in luggage-making.
The connection luxury brands are making with the art world in China is not mere happenstance. In China you can’t access Facebook or YouTube. Even the popular, and fairly innocuous, fashion blog The Sartorialist is blocked to Chinese IP addresses. Restrictions and censorship of traditional media, literature, art and popular music remain despite China’s many leaps forward. But fashion is one avenue of self-expression that is open to the Chinese and they are taking to it with gusto. The only problem facing luxury brands is not when will the boom in China end but how will they continue to meet the demand for their often hand-made products.
to list. At press time, the IPO was scheduled for July and the timing couldn’t be better. Prada’s net profit for the year ended January 31 was €250.8 million ($342 million), a 150.4 per cent increase on the previous year. Banca IMI-Intesa Sanpaolo Group owns 5 per cent of Prada; Miuccia Prada and her husband and CEO, Patrizio Bertelli, own the remaining 95 per cent. According to WWD, the Hong Kong IPO will be a listing of a 20 per cent stake that could value the company at $US9.5 billion.
Prada’s revenue from China increased by 75 per cent for 2010 to €389 million, which is approximately 20 per cent of the total turnover for the company. It has 14 stores in mainland China, nine in Hong Kong and two in Macau. This year the company plans to open nine stores on the mainland in cities such as Harbin, Guangzhou, Changchun and Hangzhou and another 11 in 2012.
Tapping China’s appetite for luxury goods requires investment. Right now Hong Kong has the hottest stock exchange in the world for IPOs (French company L’Occitane listed there last May) and its investors understand this appetite. Credit Lyonnais Securities Asia expects consumers from Greater China (which includes Hong Kong, Macau and Taiwan) as well as Chinese nationals who purchase abroad to account for 44 per cent of global luxury sales by 2020, up from 15 per cent now. Overall, CLSA expects the Chinese market for luxury goods to grow at about 25 per cent per annum for the next five years, followed by about 22 per cent thereafter. What that means in monetary terms is a €74 billion domestic luxury market in China by 2020. Add to that the €86 billion Chinese tourists are expected to spend on luxury goods when abroad and by 2020 China will be purchasing luxury goods totalling the equivalent of today’s entire luxury market.
Staging elaborate, expensive fashion shows is only one part of the strategy to seduce wealthy Chinese. Compared with other luxury brands in China, Chanel is relatively underdeveloped. It has eight stores in mainland China, six of which carry ready-to-wear and two jewellery and watches. Chanel’s small footprint, however, didn’t stop it from holding a spectacular event in Shanghai in late 2009. Designer Karl Lagerfeld staged a fashion show on a custom-built barge on the Huangpu River with Pudong’s neon-lit futuristic skyline as a backdrop. The Paris-Shanghai Metiers d’Art Collection, as it was called, consisted of 71 looks inspired by “the idea of China, not the reality,” he said. Since then Chanel has done much to subtly educate Chinese customers. It partnered with the Museum of Contemporary Art in Shanghai to stage Culture Chanel, a retrospective of Coco Chanel’s life, the aim being to teach Chinese customers about the culture of the House of Chanel. It was also a sales pitch.
Christian Dior, on the other hand, created a special version of its best-selling Lady Dior handbag and shot the print advertisement for the bag in Shanghai. Diane von Furstenberg has two stores in China: one opened four years ago in Shanghai, the second last year in Beijing. According to an interview she gave Newsweek last month, the Beijing store has already exceeded its initial sales projections by 30 per cent. To further raise her profile, von Furstenberg threw a party in the Shanghai studio of conceptual artist Zhang Huan for more than 500 people, including actress Jessica Alba and shoe designer Christian Louboutin (who also plans to open stores in China). She followed that with an exhibition called Diane von Furstenberg: Journey of a Dress at the Pace Beijing gallery, the first big New York gallery to open a branch in the Chinese capital. The exhibition runs until May 14 and features portraits of the designer by some of the most celebrated artists of the past four decades, including Andy Warhol and Helmut Newton, along with a retrospective of DVF fashion spanning the past 40 years.
Louis Vuitton, one of the first luxury brands to open a store in China, is also going down the exhibition and education path. Last year Louis Vuitton, which operates stores in 29 Chinese cities, partnered with the French Pavilion at Shanghai Expo and this month an exhibition opens at Beijing’s National Museum of China featuring the brand’s trunks and innovations in luggage-making.
The connection luxury brands are making with the art world in China is not mere happenstance. In China you can’t access Facebook or YouTube. Even the popular, and fairly innocuous, fashion blog The Sartorialist is blocked to Chinese IP addresses. Restrictions and censorship of traditional media, literature, art and popular music remain despite China’s many leaps forward. But fashion is one avenue of self-expression that is open to the Chinese and they are taking to it with gusto. The only problem facing luxury brands is not when will the boom in China end but how will they continue to meet the demand for their often hand-made products.
Tuesday, May 3, 2011
Rush for luxury drives strong Q1 at Hugo Boss
Rush for luxury drives strong Q1 at Hugo Boss
German fashion house Hugo Boss (BOSG_p.DE) followed luxury peers LVMH and Burberry with a jump in sales and profits for the start of 2011 as Asian demand for European luxury labels continues unabated.
Hugo Boss forecast 2011 sales up at least 12 percent and core profit up 15 percent, with growth to be driven by China and the United States and expansion of its network of own stores.
Shares in the group, known for its suits, hit an all-time high of 66.41 euros after the results, with analysts saying the group's guidance for the year now looks too conservative.
Hugo Boss shares had already doubled over the past year and Thursday's gains are more good news for Permira [PERM.UL], the private equity firm that owns 72 percent of the group. It has previously said it is in no hurry to sell its stake in the group. [ID:nLDE70H2G7]
As the world recovers from recession, makers of luxury goods from shoes to handbags, wine and watches, have enjoyed soaring sales over the past year, driven by China's love of chic brands. LVMH (LVMH.PA) and Burberry (BRBY.L) said last week they had made a good start to the year, despite fears that the earthquake in Japan would halt demand in the region. [ID:nLDE73I08R]
Hugo Boss added on Thursday it had been able to maintain prices, thus improving its gross profit margin in the quarter.
That contrasts with retailers at the lower end of the scale, such as Primark (ABF.L) and H&M (HMb.ST), which are being forced to keep prices low and absorb higher cotton costs themselves in order to hang on to bargain-hunting customers. [ID:nLDE73P1O4]
Hugo Boss also expects good sales in the United States, where its message of quality, European design, has attracted shoppers. [ID:nLDE72S103]
"The first quarter results confirm that we have carried our momentum from 2010 into 2011," Hugo Boss Chief Executive Claus-Dietrich Lahrs said in a statement on Thursday.
Group sales for the first quarter rose 21 percent to 539 million euros ($790.7 million), with core profit before special items up 43 percent at 132 million.
Net income for the first quarter rose 48 percent to 83.5 million euros.
Analysts were on average expecting Hugo Boss to report sales of 531 million and net income of 70.6 million, according to a Reuters poll. [ID:nLDE6A31Y2] (Reporting by Victoria Bryan; Editing by Jon Loades-Carter) ($1=.6817 Euro)
German fashion house Hugo Boss (BOSG_p.DE) followed luxury peers LVMH and Burberry with a jump in sales and profits for the start of 2011 as Asian demand for European luxury labels continues unabated.
Hugo Boss forecast 2011 sales up at least 12 percent and core profit up 15 percent, with growth to be driven by China and the United States and expansion of its network of own stores.
Shares in the group, known for its suits, hit an all-time high of 66.41 euros after the results, with analysts saying the group's guidance for the year now looks too conservative.
Hugo Boss shares had already doubled over the past year and Thursday's gains are more good news for Permira [PERM.UL], the private equity firm that owns 72 percent of the group. It has previously said it is in no hurry to sell its stake in the group. [ID:nLDE70H2G7]
As the world recovers from recession, makers of luxury goods from shoes to handbags, wine and watches, have enjoyed soaring sales over the past year, driven by China's love of chic brands. LVMH (LVMH.PA) and Burberry (BRBY.L) said last week they had made a good start to the year, despite fears that the earthquake in Japan would halt demand in the region. [ID:nLDE73I08R]
Hugo Boss added on Thursday it had been able to maintain prices, thus improving its gross profit margin in the quarter.
That contrasts with retailers at the lower end of the scale, such as Primark (ABF.L) and H&M (HMb.ST), which are being forced to keep prices low and absorb higher cotton costs themselves in order to hang on to bargain-hunting customers. [ID:nLDE73P1O4]
Hugo Boss also expects good sales in the United States, where its message of quality, European design, has attracted shoppers. [ID:nLDE72S103]
"The first quarter results confirm that we have carried our momentum from 2010 into 2011," Hugo Boss Chief Executive Claus-Dietrich Lahrs said in a statement on Thursday.
Group sales for the first quarter rose 21 percent to 539 million euros ($790.7 million), with core profit before special items up 43 percent at 132 million.
Net income for the first quarter rose 48 percent to 83.5 million euros.
Analysts were on average expecting Hugo Boss to report sales of 531 million and net income of 70.6 million, according to a Reuters poll. [ID:nLDE6A31Y2] (Reporting by Victoria Bryan; Editing by Jon Loades-Carter) ($1=.6817 Euro)
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