If we have felt anything in the past 12 months, it is that the fashion industry has undergone earth-shaking changes this year. Faced with these changes, some people are happy and others are sad. The bell of 2020 is about to ring, and it’s time to take stock of the major fashion events that happened in 2019! From the bankruptcy of Barneys, the blackface scandal at Gucci, to the death of Karl Lagerfeld, 2019 was a complete whirlwind for the fashion industry. And which industry headlines have you missed? Let’s take stock and review together!
01 . GUCCI ‘Blackface’ Sweater Controversy
One of the most controversial news this year. Gucci launched a sweater in early February that many believed resembled blackface. The black sweater can cover the lower part of the face, and the hollow around the mouth outlines the shape of the lips in bright red. This design is directly accused of insinuating “Blackface” and has racial discrimination. Blackface is a type of burlesque that was popular in the United States in the 19th century. Non-black actors would paint their faces black and imitate the speech and movements of black people to entertain the audience. It was full of misunderstandings and discrimination.
After the public opinion fermented, Gucci not only issued an official apology and removed the product; its brand CEO Marco Bizzarri and creative director Alessandro Michele also wrote to each employee saying, “We have committed a crime. We made a big mistake”; the official account later posted a status: “We promise to enhance the awareness of diversity within the entire organization and turn this emergency into a learning material for the Gucci team.”
02. The Fall of Karl Lagerfeld
On February 19, the famous designer and industry icon Karl Lagerfeld passed away at the age of 85. The fashion industry lost a legendary figure. Lagerfeld is best known for his work as long-time creative director of Chanel and Fendi, as well as his own eponymous brand. It is said that even in the last few days of his life, he was still issuing new ideas and instructions to his team for the upcoming Fendi autumn ready-to-wear collection in Milan, and he worked hard until the end.
Lagerfeld has had countless auras throughout his life: designer, artist, photographer, fashion pioneer…the shows he planned have become the most classic industry benchmarks in history. He was one of the most influential, prolific and unforgettable figures in fashion, and the death of this star is a huge loss to the fashion industry.
03. “UNIQLO xKAWS” sold out in three seconds
Six At the beginning of the month, the last series of the collaboration between UNIQLO and KAWS was released as scheduled. Stimulated by the trailer video and the early exposure of celebrities, the series received great attention before its release, causing a large number of consumers to queue up early to wait for the store to open the store to snap up the product. The highest price was only The 99 yuan series of products were all sold out within 3 seconds in some stores. According to sources, the value of the series of products in the second-hand exclusive market is expected to increase 10 times to nearly 1,000 yuan.
In addition, not only Uniqlo, but also luxury brands and street culture have accelerated their integration in just one year. Louis Vuitton X Supreme, DIOR, Fendi and even CHANEL are all moving closer to trend culture. .
04. The carbon neutral movement in the fashion industry
The protests outside New York Fashion Week were once one of the hot spots for sustainability, and the current predicament of fast fashion has also sounded the alarm for the industry. After Gucci announced in early September that it would adopt a carbon neutral policy, its parent company Kering – which owns brands Saint Laurent, Bottega Veneta and Balenciaga – also announced that it will adopt a carbon neutral policy over time. , more brands will follow suit.
Climate change is caused by the emission of carbon and other gases into the atmosphere through pollution. The fashion industry is one of the biggest drivers. More and more brands have joined the camp of banning animal fur and stopping the destruction of unsalable products. Brands Begin to work on sustainable research and improvement from raw materials to the entire supply chain, as well as create an overall closed loop to reduce negative impacts on the environment.
05. “VICTORIA’S SECRET” is temporarily suspended
Victoria’s Secret, which has held underwear fashion shows for 24 consecutive years since 1995, was confirmed by Stuart Burgdoerfer, CFO of its parent company L Brands, in a conference call in November this year to cancel this year’s Victoria’s Secret show, saying, “We believe , it is very important to improve Victoria’s Secret’s marketing methods.”
The third quarter financial report released by Victoria’s Secret parent company L Brands as of November 2, 2019 showed that the company’s net sales increased year-on-yearfell 4% to US$2.677 billion. Stuart Burgdoerfer also revealed that Victoria’s Secret is studying how to enhance its brand positioning and best communicate with customers. Its CEO acknowledges the need for more diversity. Sister brand Pink even hired its first transgender model.
06.Barneys New York files for bankruptcy
Following last year’s Lord & After Taylor closed its flagship store on New York’s Fifth Avenue, Barneys New York, a New York landmark and legendary fashion retail giant, confirmed it filed for bankruptcy in November this year. This 96-year-old high-end department store faced the impact of e-commerce on the traditional retail industry and the impact of high rents. In the end, Barnyes suffered huge financial losses.
In fact, the rapid development of online has caused serious trauma to many offline physical stores. In January this year, Calvin Klein announced the closure of its Manhattan flagship store; in May, Tommy Hilfiger also announced the closure of its Manhattan flagship store. ; Nationwide, Gap closed 230 stores, Starbucks closed 150 stores, Sears closed 72 stores, Victoria’s Secret closed 53 stores, Lowe’s closed 51 stores, CVS 46 stores, A&F 40 stores…
07. The largest acquisition in the history of LVMH Group
LVMH Group officially announced at the end of November this year that it would acquire US$16.2 billion After acquiring the jewelry brand Tiffany & Co, LVMH initially estimated the price of the acquisition to be US$14.5 billion, which was subsequently increased to US$16.2 billion, making the acquisition highly concerned by the fashion industry at the time. Currently, LVMH also owns jewelry brands such as Bulgari and Repossi, but its watch and jewelry department’s revenue in the first three quarters increased by 8% to 3.261 billion euros, accounting for only 8.4% of total revenue.
This acquisition, which caused a sensation in the entire fashion industry, lasted for nearly a month of negotiations and also expressed LVMH’s determination to penetrate the jewelry market. According to McKinsey data, fine jewelry has always been one of the fastest-growing categories in the luxury goods market. This category is growing at a healthy rate of 5% to 6% every year, and sales are expected to reach US$281 billion by 2020.
08. The Nirvana Rebirth of “New BOTTEGA”
The Italian brand Bottega Veneta, under the leadership of the new designer behind it, Daniel Lee, has awakened what he calls the “sleeping giant” to lead the 2019 British Fashion Awards, making a big splash with “four mentions and four out of 1” overnight. In time, it has entered the army of “successful brands”.
In the past time, Bottega Veneta has experienced changing designers, changing brand logos, asking popular star Yi Yang Qianxi to endorse, and even fully trying e-commerce. Tmall, which the group boss does not get along with, Opened a flagship store… After a series of actions, Bottega Veneta was reborn. Not only was the cloud bag a hit all over the Internet and was out of stock several times, other products were also loved by fashionistas and celebrities.
Summary
The fashion industry is witnessing historical changes in consumer behavior, and e-commerce and social media are constantly changing the traditional retail model. The countdown to 2019 has begun. Some brands have survived by relying on continuous innovation and creativity, but the survival and development of most brands have fallen into chaos.
Generals do not fight unprepared battles. Faced with the bleakness of 2019 and the unknown challenges of 2020, the fashion industry has confirmed that it should be prepared for a rainy day and provide a better environment for brands and brands. Enterprises make clear development planning directions, marketing strategic plans, and even talent management strategies. </p
