#FashionOGnews: A new Diane von Furstenburg business, fashion size-inclusion success and $1 billion Stock X?
Photo: How I feel about companies like Boohoo… just in general
On the latest edition of #fashionOGnews, I'm sharing stories that range from familial nepotism (and why this case is actually FAB), Boohoo's unsustainable 'fashion for all' (as wonderful as inclusion is) and how StockX can build staying power past their potential $1 billion valuation.
As always, I hope you guys enjoy the news update and all the stories I hand-picked this week (with a sprinkle of sassy commentary -- naturally).
Audio companion to this blog post can be found at the bottom of the page*
Fashion influencer favourite Wandler have gone into the business of shoes. Known for it’s cult bag, the Hortensia, her range of 5 heels are an answer to the industry’s alleged ‘sneaker overkill.’
With bag prices around 385 to 600+ GBP, Wandler is one of those brands that’s investment-worthy yet actually attainable (with a few months savings). For shoes, the pricing will be similar, with styles starting at 375 GBP.
While Elsa Wandler (the designer) wants to do flats eventually, her focus on heels reflects the simple approach of her brand -- to master a ‘tight edit’ of one arena at a time. As much as I (a sneaker enthusiast) am reluctant to admit any sort of sneaker overkill, I do understand her point. Nowadays, it seems like every luxury brand under the sun has a sneaker to hawk so its refreshing when someone puts out pastel styles that are different, fun and feminine (and perfect for summer).
Last Friday, it was reported that StockX could be valued at $1 billion as a company. With competitors like GOAT and Stadium Goods being snatched for $100 million and $250 million respectively, the enthusiasm for these sorts of companies is clear.
What’s really interesting, however, is longevity. A lot of people say the hype of streetwear is dying. While I’m reluctant to admit ‘sneaker overkill’ (see above) I think, like with anything, there is bound to be a dip. If a sneaker resell platform has such a high valuation, but no other strong leg to stand on besides sneakers, they may face a lot of issues later on. Thankfully, Stock X sell other luxury goods (Like LV and Hermes bags), so as long as they continue to develop these other areas, their future looks promising.
19-year-old model and granddaughter of Diane Von Furstenburg is going into design. For the summer season, she has put together a capsule collection of summer dresses and separates.
While this obviously plays into the nepotism rife in the industry nowadays (every young model has a famous last name already -- after all), I think it’s kind of sweet and actually makes sense. Think of the Missoni family -- the brand is still around, and everyone in the family takes part. To a degree, maybe DVF wants to build a similar thing? Plus, it’s no secret that the brand has been facing some trouble. Who knows, maybe an injection of youthful energy is just what they need?
Puma is brand that hasn’t honestly been cool within my lifetime -- until now. Thanks to strategic partnerships with celebrities like Rihanna and Selena Gomez, and re-entering the basketball market, the brand has rebounded and is now 100% cool in fashion circles. PLUS they did THIS collab with Harmony Paris and rereleased vintage styles in a timely manner.
What surprises me the most, however, is that Puma is allegedly growing faster than both Adidas and Nike. That being said, if you think about it I guess it makes sense. When a brand is doing really terribly and drastically improves, this is still growth (even if they are still technically lagging behind adidas -- at least within the world of cultural cool).
The fast-fashion etailer has experienced a considerable increase in sales after making their bodycon dresses available up till a size 26. In doing so, their co-founder Carol Kane wants women to know that you can wear the same dresses as girls in smaller sizes. We are all humans, and we all want to look great in trendy and fabulous clothes -- so why do plus size clothes have to be large, shapeless and unattractive?
Considering their social-savvy and 80 million GBP marketing spend, Boohoo clearly know how to get young people onboard. Inclusive sizing and inclusive pricing allow virtually anyone to participate in fashion trends through Boohoo.
The problem lies, however, in sustainability. Break-neck growth will inevitably slow, and the brand is fundamentally driven by underpaid labourers and a cycle of nonstop consumption. Once more young people become conscious of this reality, I question (call me an optimist) how many will even stick around.
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