Fashion, Luxury and Heritage in the Time of COVID 19 FBS C19 Issue 9: 03.07.20
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Fashion, Luxury and Heritage in the
Time of COVID 19
FBS C19 Issue 9:
03.07.20
1
Buying luxury, isn’t always about being rich, or having unlimited money. Luxury is
aspirational and often ethically sourced and hand crafted. It links to ‘buy better buy
less’, but also to being able to trace every component required to produce the
product, and every stage of its production. There are less made, and with many
products they can be used for many, many years, passed on or simply resold as
vintage. I have a friend who’s classic Fendi passport holder is now over a quarter of a
century old, a far better investment in twenty-five years of travelling than a cheap
version. Investment in fashion is indeed an old trend, and like vintage or collectible, a
description which luxury embraces. Whatever the luxury product, from a belt to a car,
it’s about investing your money for a worthwhile return.
The big names of fashion, the famous, the solidly established are strong in their
majestic certainty. Christian Dior, Gabrielle ‘Coco’ Chanel established fashion houses
that we now simply call Dior, Chanel, Hermes, Cartier and a host of other brand names
that immediately spell out luxury, quality, and heritage. For these brands the COVID
pandemic, the lockdown and the concerns have been different, it’s less a worry and
more of an interruption, as they march forward with confidence.
Gucci and Saint Laurent make statements which they know the followers of those
brands and labels will simply follow and support.
Haute Couture is starting as planned, albeit in a different format, luxury jewellery and
watch auctions are continuing, luxury accessories are much in demand. Just as in the
past people say luxury is ‘recession proof’, so it might appear that luxury is also
COVID19 pandemic proof.
There are however changes afoot, and the important thing is to read, watch and learn
how the top level of the fashion industry is reacting, how they’re discussing, what
steps they are taking to stay at the pinnacle of the brand pyramid.
In luxury the shop or franchise is only a part of the story; staff training, or the slick
packaging and glossy carrier bag; every detail and component counts. The face of the
brand, the celebrities in the front row, the newest fragrance, every second is
calculated.
How the heritage, the rhythm they have established, continues to drive the name
forward year after year after year. The role of the designer and all the marketing, PR,
communications, branding, finance and CEO’s working together to ensure that the
brands future is secure. This is why the musical chairs of designers is so fascinating as
we see who, what and how the shift of the house style is dealt with. It remains the
same but is updated, edited, re arranged and refreshed. Indeed, the change of the
house designer doesn’t even always shift the sales figures by a large margin, up or
down. It’s the name in the end, and often it’s bigger than the incumbent designer.
Luxury is a world of its own, from a publisher like Assouline, through limited edition
shoes, and bespoke tailoring, and onto couture ball gowns and private planes. At its
most extraordinary it’s outside the dreams of most people, but the pieces which are
accessible such as a wallet, a lipstick or a pair of sunglasses, must be carefully aligned
to the exclusive handmade trunk or the bespoke fragrance. It’s this balance which
becomes so vital for the business and drives the communication, the ideas and level of
2
innovation. Today there are so many platforms to work with on establishing a
conversation between the customer and the label.
If you can access the savoire faire of the production of a single piece through
YouTube, then the access to the entry price points becomes a lure to the clients.
Luxury is still about selling and making money, it’s just more discrete about it and
more subtle in how it persuades the customer to part with their cash.
Tony Glenville
Fashion Commentator
Steven Klein for Vogue:
• https://www.bain.com/insights/luxury-after-coronavirus/
Luxury after Covid-19: Changed for (the) Good?
Sales could fall up to 35% this year, but companies can still emerge stronger, more
innovative and more purposeful.
3
• https://www.transformmagazine.net/articles/2020/luxury-brands-at-the-time-of-
covid-19-towards-a-new-humanism/
In the next normal, commercial intent and genuine altruism will eventually balance out.
But the exercise in empathy undertaken during these few months have equipped many
luxury brands with the critical strategic tool to make significant strides and get traction
in the post-pandemic competitive landscape.
• https://www.positiveluxury.com/blog/2020/06/15/how-the-luxury-industry-is-
staying-afloat-during-covid-19/
From new digital showrooms to refreshed fashion calendars, we look at some of the
ways the luxury goods industry is shifting gears – and what may lie in the future.
• https://cpp-luxury.com/continued-dramatic-unfold-of-the-covid-19-pandemic-
to-severely-impact-the-global-luxury-industry/
We estimate a further decline of up to 15% for the first half of 2020, considering the
worsening sentiment among Asian consumers, especially China, Thailand, Malaysia
and Indonesia. Only brands which have a demonstrated investment relevance are
likely to perform better (ex Hermes, Chanel, Rolex, Patek Philippe)
• https://sarasotainstitute.global/the-consumer-in-the-age-of-coronavirus/
Philip Kotler is widely acknowledged as the father of modern marketing and the
world’s foremost expert on strategic marketing. He was voted the first Leader in
Marketing Thought by the American Marketing Association and named The Founder of
Modern Marketing Management in the Handbook of Management Thinking.
4
Viktor & Rolf:
Haute Couture:
The new model for couture week in Paris is starting, as each day passes, news,
invitations and questions appear for the press. What we are still uncertain about is the
final format. Below are the names already moving forward with confidence and
creativity, and he most up to date visuals. Let’s wait and see.
Rahul Mishra:
• https://www.vogue.in/fashion/content/rahul-mishra-will-return-to-the-official-
couture-week-calendar-in-a-new-format
Alexandre Vauthier
Maurizio Galante
5
Alexis Mabille Save The Date:
Dear All,
I hope you’re keeping well.
Please find attached the save the date for Alexis Mabille’s virtual Live show Haute
Couture Fall-Winter 2020-21 which will be launched on Tuesday 7th, July at 1:30pm.
The registration for Paris HC Fashion week online professional area access is opened.
Here is the link:
https://forms.office.com/Pages/ResponsePage.aspx?id=oxQM9BMp_UmwFaD5VNi93
TVq1bsPjj5ErpiJYHh6fZhURVQ4N1kzQU04NVdXMUpXVjZQNE9XVVFQRS4u
(Registering will be closed on 3rd of July)
Please let me know if you have any questions.
Best regards,
Noriko
NORIKO CHIKAMORI
OBCM
obcm.net
Valentino Haute Couture Announcement:
VALENTINO HAUTE COUTURE FW20-21
Valentino is pleased to announce that the Haute Couture Fall Winter 2020-21 collection
will be presented through a special show conceived by Pierpaolo Piccioli. The Creative
Director of Valentino has involved the artist Nick Knight in order to amplify human
Haute Couture values through an idea where the Maison mastery will be highlighted by
the digital side.
The project arises from an idea, that Pierpaolo Piccioli already had in mind before the
pandemic, that merges the human and digital worlds creating a bond that is the legacy
of the re- birth period we are experiencing. The limits that we are living need to be
transcended through grace and lightness.
The Maison will continue to attend its appointment with the Federation de la Haute
Couture et de la Mode on July 8th 2020 at 6.00 pm revealing the inspiration of the
exclusive Live Performance that will take place then in Rome on July 21st 2020 at
Cinecittà Studios.
The Live Performance will bring together the human and the digital touch creating a
dialogue where neither of them will take the lead. No digital effects can substitute the
humanitas. The result will be the expression of the inner values of Couture: creativity,
imagination and emotion.
6
The Performance will be live on digital channels and selected fashion reviewers based
in the country will be invited to the event in Rome, in the respect of the current
situation, following all necessary safety measures.
Viktor & Rolf Couture Show Reminder:
Hey Tony,
I hope you have been keeping well,
I wanted to check in to see if you will be covering the couture shows this coming
season. Viktor and Rolf are planning to digitally reveal their new collection on
Wednesday, July 8th at 4pm. It would be great to know what you and the team have
planned, or if you will be covering the collections.
Any information will be super helpful
Let me know
Cherelle xx
Kindest regards,
Cherelle Byfield
Account Manager, Communications
Karla Otto London
30 Sackville Street
London W1S 3DY
United Kingdom
Dior Save the Date:
Dear Tony,
I hope you are well.
Please see the below SAVE THE DATE for the Dior Haute Couture Fall/Winter 2020-21
collection presentation to be revealed exclusively online on Monday, 6th July 2020 at
1.30pm (2.30pm Paris Time).
Invitation to follow
Best wishes,
Callie
7
Dior:
Heritage, history and a brilliant repertoire of signatures…
Whilst working for Lucien Lelong, Pierre Balmain and Christian Dior talked of opening
their own couture house together. However, Balmain couldn’t wait and started his own
house solo. This spurred Dior to get backing from Boussac, a fabric manufacturer,
hence the unlimited access to fabric allowing Dior to use huge meterage to create his
first collection.
8
French Born Christian Dior started the work for his Parisian couture house in a small
mansion on avenue Montaigne in 1946. “I have designed flower women!” he
announced of his debut collection, called Corolle (meaning ‘a circlet of flower petals’).
It was indeed christened the “New Look” when it appeared in January 1947.
When Dior died suddenly of a heart attack in 1957, his former assistant, Yves Saint
Laurent, succeeded him – and became the world’s youngest couturier aged 21. His
first collection was the Trapeze Line for spring/summer 1958 – this collection had
already been started as almost a collaboration between Monsieur Dior and the young
Saint Laurent. It was in direct opposition in its silhouette to the fit and flare lines of The
New Look. In a press release for his third collection, it was announced that “the figure
was lost in favour of style”. When Saint Laurent was drafted into the army in 1960,
Marc Bohan was promoted to replace him. Heading the house until 1989, the French
designer introduced the Slim Look, a svelte adaptation of Dior’s iconic silhouette, and
his famous clients included Princess Grace of Monaco and Sophia Loren. Milan’s
Gianfranco Ferré then took the baton – the first foreign-born designer to do so –
bringing an architectural aesthetic (he was nicknamed “the Frank Lloyd Wright of
fashion”) to the maison. But something more radical was waiting in the wings. In 1996,
Givenchy’s John Galliano took over, and let loose intricate beading, bias cuts and
drama. He was dismissed from Dior in 2011 after making anti-Semitic remarks and an
alleged assault. Bill Gaytten stepped up temporarily heading the house until 2012,
when Belgian designer Raf Simons was handed the reins. He cemented the label with
his contemporary cool – attracting celebrities such as Rihanna to updated versions of
Dior classics, including the Bar jacket.
When Raf Simons left in 2015 he was briefly replaced by Serge Ruffeiux and Lucie
Meyer. Then in July 2016 came a new chapter, with Valentino’s Maria Grazia Chiuri
taking her turn at the helm. The first woman to the post, she has invigorated the label
with a magnetic modernity.
• https://www.vogue.com/article/christian-dior-resort-2021-announcement
• https://www.lofficiel.co.uk/fashion-
week/dior%20announces%20an%20event%20in%20lecce%20July%2022
• https://fashionista.com/2020/06/dior-cruise-2021-lecce-italy
• https://emirateswoman.com/dior-cruise-show-go-ahead-twist/
• https://www.dior.com/en_gb/mens-fashion/air-dior
Dior launches new podcast series June 8, 2020:
Dior is set to launch a podcast series called ‘Dior Untold’ which will cover the history
of Dior fragrances.
9
The series will cover Christian Dior’s journey through his perfumes, from his native
Granville to Paris and beyond. The podcast will also feature commentary from Dior
perfumer-creator François Demachy.
The first episode, “For the Love of Flowers,” will be broadcast on June 10 at Dior.com,
Spotify, Deezer, Apple Podcast, YouTube, SoundCloud and Podcast Addict.
Louis Vuitton:
The brand is about a great deal more than just the canvas, or a signature tote bag.
Vogue:
‘Before Alboh there were Nicolas Ghesquière’s runway reworks, (Marc Jacobs’ before
him), Takashi Murakami’s Pop-minded collaboration of 2003, Catherine Deneuve’s
traveling trunks, and Dapper Dan’s knock-ups made in his boutique on East 125th
Street in Harlem. But of course, how you know the monogram isn’t what matters—it’s
that you know it. The interlocking L and V with floral pattern was designed by Louis
Vuitton’s son, Georges Vuitton, in 1896 as a way to brand his nascent box and
luggage business, and in the 120 years since, it’s become one of the most
recognisable marks in the world.
Within the fashion arena, the LV monogram is having something of a resurgence.
Since Ghesquière was named artistic director in 2013, the designer has made a point
of incorporating it into his collections in new and novel ways to see: the floral-shaped
heels of his Spring 2015 boots. Celebrate the history of the iconic house with this look
back at its logo in 15 bite-size notes.
Abloh's predecessor Kim Jones has had his way with the logo too, using it in a
Supreme collaboration in 2017 and as his sign-off from the maison during his final Fall
2018 menswear show.”
• https://www.vogue.fr/fashion/fashion-inspiration/story/a-brief-history-of-louis-
vuittons-famous-monogram/1682
• https://www.biography.com/fashion-designer/louis-vuitton
10PARIS/MILAN (Reuters) - Louis Vuitton owner LVMH (LVMH.PA) on Thursday posted a
17% drop in comparable sales in the first quarter due to the coronavirus pandemic, as
government-imposed lockdowns forced it to close stores and production sites in key
markets.
• https://www.globenewswire.com/news-
release/2020/04/16/2017512/0/en/LVMH-shows-good-resilience-in-the-first-
quarter-of-2020.html
• https://www.lvmh.com/news-documents/press-releases/lvmh-shows-good-
resilience-in-the-first-quarter-of-2020/
• https://www.lvmh.com/investors/investors-and-analysts/events/
• https://www.retailgazette.co.uk/blog/2020/04/louis-vuitton-owner-lvmh-
blames-declining-sales-on-covid-19-chaos/
• https://www.reuters.com/article/us-lvmh-results/sales-drop-at-vuitton-owner-
lvmh-as-virus-forces-store-closures-idUSKBN21Y2JZ
Chanel:
The history is the foundation on which the future is built, with the signatures always
stressed and in place. Little black dress, quilting, chains, the two tone shoe, camellias;
it’s about change but recognising the past is a strong thread holding everything
together.
11Coco Chanel’s life story is the ultimate example of making something beautiful out of
very little. Originally born Gabrielle Bonheur Chanel in the summer of 1883, Coco
Chanel’s early life in France was certainly not the dazzling experience we associate
with fashion icons.
Chanel’s mother passed away, and her father placed her in an orphanage at a very
young age. While living in the orphanage, Chanel was raised by nuns, who taught her
how to sew. At a young age, Chanel briefly spent time as a singer, and performed in
clubs under the stage name ‘Coco’. When she was approximately 20 years old, Coco
Chanel became romantically linked with hat designer Etienne Balsan. Even though she
soon left Balsan for his wealthy friend, Arthur ‘Boy’ Capel, both gentlemen assisted
Chanel with her first fashion-related business.
At the age of 27, Chanel opened her first clothing store on Paris’ Rue Cambon, where
she sold hats. She later opened more stores and started selling clothing as well.
Chanel attributed much of her designing success to a single jersey dress she created
during this time. She was traveling to her Deauville store, and the weather was cold, so
she wore a dress that she had crafted from an old jersey. Many people asked her
where she bought the dress, and she offered to make them their own.
From that point on, Chanel continued to achieve accomplishment after
accomplishment in the fashion industry. Her Chanel No. 5 perfume was a big success
and was the first perfume to feature the designer’s name. Considered a real trailblazer
in the industry, Chanel also introduced the Chanel suit and the little black dress.
Chanel helped women feel more comfortable in formal and professional attire by
borrowing elements from men’s wear but tailoring the designs to be applicable for the
female body. Coco Chanel also famously transformed black dresses from something
that you wear to a funeral to the chicest form of eveningwear. Little black dresses are
staples in women’s closets everywhere, just as the lessons and revolutionary visions of
Coco Chanel continue to be staples in fashion design. Most of all I think she
encouraged women to speak up and be heard at a time when women were starting
businesses and having professional careers. Some might say that her fashion designs
reflected this shift. Chanel died in 1971. The house was kept alive by the designer
Philippe Guibourge, until 1983 when Karl Lagerfeld was bought in to design Haute
Couture, after one collection he was then made artistic director of the house including
Pret a Porter. Lagerfeld died in 2019 and he has been replaced by his former assistant,
Virginie Viard.
• Chanel’s life has been captured on two films both released in 2009: Coco
Chanel and Igor Stravinsky starring Anna Mouglalis and based on a novel of the
same name, and Coco before Chanel starring Audrey Tautou.
https://en.wikipedia.org/wiki/Coco_Chanel
12Chanel 2020:
• https://www.chanel.com/us/makeup/june-new-and-now/
• https://www.chanel.com/us/eyewear/sunglasses/c/2x3x1x1/runway/
• https://youtu.be/8CjvnDzJXHM
Investing in Luxury:
Since the beginning of 2020 so many things have damaged fashion at all levels.
Primark has no online presence so the re opening of their retail was not just exciting
for their customers, it was essential. Many luxury pieces are only a available to select
customers in store, indeed some luxury brands have either no or limited on line sales.
Even luxury beauty can only be repeat buys, since the testing of a lipstick must be
done in reality not cyber space.
Luxury shops, stores, boutiques and concessions are usually beautifully laid out for
display, merchandising and client access. Numbers at this level of shopping are not at
all like a supermarket, a general department store or regular high street shopping. So,
post lockdown openings involved little need for distancing or change, other than hand
sanitiser, masks and no handshakes or air kisses. However, auctions, vintage, unique
pieces and the opportunities to invest in collectibles carried on virtually uninterrupted.
The ease with which online auctions have taken over in recent years is extraordinary.
2011 was the first Christie’s online Auction for the Elizabeth Taylor sale and was in fact
instigated by Meredith Etherington-Smith. Whatever the obituaries may say, I heard it
from Meredith.
13‘Meredith Etherington-Smith was a highly respected and much-loved figure at
Christie’s, where she served variously as Global Chief Marketing Officer, Editor-in-
Chief on Christie’s Magazine and as a creative contributor to many of the highest
profile auctions of the last 30 years.’
• https://www.christies.com/features/Meredith-Etherington-Smith-1946-2020-
Obituary-10280-1.aspx
• https://www.thetimes.co.uk/article/meredith-etherington-smith-obituary-
mfpmvllpb
thredUP:
We were just days from publishing our 2020 Resale Report in March when the Covid
crisis hit.
Like every business in the world, thredUP paused to focus on the safety of our teams
and set a plan for the rest of 2020. At the time, it seemed that Covid had “changed
everything.” But is that really true as we look ahead? Here’s what the latest data is
telling us:
First, changes that were already afoot in retail are accelerating rapidly. Sheltering in
place catalysed the shift toward shopping online. As a result, opportunities are
expanding for the strongest ecommerce and marketplace businesses.
Second, for all the challenges Covid posed to our assumptions about consumer
behaviour, one thing is clear: consumers everywhere are prioritizing value and
accelerating the shift to thrift. When times get uncertain, we all focus on our family
balance sheet. Brands whose core proposition delivers value and convenience have
the opportunity to gain share. Amazon, off-price, and resale are emerging as winners.”
14• https://www.thetimes.co.uk/article/high-heels-handbags-and-huge-watches-
on-the-road-to-rio-and-beijing-r9k5djgjkgc
• https://www.knightfrank.com/wealthreport/luxury-spending/2020-03-03-why-
you-can-never-have-too-many-collectable-handbags
• https://www.theguardian.com/fashion/2020/jun/28/450k-for-trainers-why-
vintage-fashion-is-the-new-smart-investment
• https://www.ibisworld.com/industry-insider/analyst-insights/sustainability-and-
the-online-resale-market/
• https://www.thredup.com/resale/
Watches:
A great deal more than simply something to tell the time by. Knowing and
understanding the world of watches is essential in the luxury category. There are many
specialists within this field and those who write about watches, like Avril Groom, have
an expertise and an enquiring mind on the technicalities and complexities of the
business which are extraordinary. Much watch production is worked through a series
of specialist workshops each with only one specific component of the construction.
The purchasers of these watches are also collectors and often experts. Like fine
jewelleries, although there is big money, it’s all about knowledge and discussion and
interest and investing. Every tiny detail counts.
Overview:
On 1 April, Sotheby’s launched Watches Weekly, a rolling calendar of online sales with
a new selection of watches being unveiled every seven days. Responding to the
confidence and desire of collectors looking for important pieces to purchase online,
this series provides a fast and dynamic way to buy and sell watches and has attracted
collectors from around the world. Many of the buyers in the first sales were new to
Sotheby’s (54%) and under 40 (40%). The sales have already set new benchmarks for
15online watch auctions, including a record for a watch sold in an online sale for the
Patek Philippe Nautilus, ref. 5711 in platinum with blue jeans dial, circa 2014 which
sold for HK$ 3,750,000 (US$ 484,000).
2019 proved a record year for watch sales at Sotheby’s, achieving $109 million
globally, the highest annual total in the company’s history, and a 22% uplift on 2018.
Offering the finest timepieces ranging from the 16th century to the modern day,
including the most sought after modern and vintage clocks, pocket watches and
wristwatches, Sotheby’s Watch department showcases the thriving and international
nature of this category, frequently achieving world record breaking results in all of
Sotheby’s selling locations.
Forming and maintaining strong relationships with the world’s collectors and
connoisseurs is paramount to the service provided. With a truly global presence, the
department holds sales in London, Geneva, Dubai, Hong Kong and New York with a
specialised team in each location whose passion for watches is matched only by their
unparalleled knowledge and experience. The market is one of constant change and as
such, the worldwide team is dedicated to keeping abreast of the latest trends and
developments. Our specialists recognise - and take pride in - the fact that constant
learning and the sharing of knowledge both within and outside the industry, is as
essential as in any other academic genre or category.
The Watch department has consistently achieved benchmark prices, including $24
million for the Patek Philippe Henry Graves’ Super complication – a longstanding
auction record for a timepiece - and the George Daniels ‘Space Traveller I’ which set
the highest price for both an English Watch and an Independent Watchmaker at $4.6
million in 2019. Clocks also achieved record prices last year: a contemporary clock by
Cartier sold for $1.03 million in Hong Kong, a clock by Vacheron Constantin realised
$667,467 in London and a Cartier Comet Clock achieved $350,000 in New York.
Online sales continue to grow rapidly with 56% of all lots sold online in this category in
2019 and 80% of bidders participating online. The top watch sold online in 2019 set an
auction record for a Millennium wristwatch by George Daniels, selling for $289,800 in
Hong Kong in April.
Demonstrating the breadth and extent of its collective knowledge and expertise, the
department has been entrusted with and sold numerous ground-breaking pieces and
collections. Following the success of the first two sales from the Masterworks of Time
collection held in London & Geneva in 2019, already surpassing the low estimate for
the entire collection when they sold for a combined $15.8 million, Sotheby’s will offer
the final two sales from the series in New York in June and Geneva in November this
year.
• https://www.phillips.com/auctions/auction/HK080120?utm_source=google&utm
_medium=cpc&utm_campaign=HK080120%7CWatches%20HK%3A%2010%2
0July%202020%7CNB%7CGeneral%7C071020&utm_term=hong%20kong%2
0watches%20auction&utm_content=HK080120_NonBrand_Search&gclid=CjwK
16CAjw_-D3BRBIEiwAjVMy7GakuqY4j-
O6_KZLOqyEzit1B2K02GeZc4JTatWC0bxl5_CVlsGtZxoCqSMQAvD_BwE
• https://onlineonly.christies.com/s/christies-watches-
online/categories/387?lang=en-us
• https://www.daviddugganwatches.co.uk/one-to-watch/2019/why-vintage-
watches-are-a-sound-investment-for-2020/
Masterclass at Home _ By Bvlgari With Fabrizio Buonamassa Stigliani
Creative Director of Watches:
• https://youtu.be/rYw2fyyAKOA
Handbags:
Investing in a handbag, might just be better than stocks and shares. Another luxury
element to watch and learn about in depth.
High jewellery from any of the great houses is truly an investment. Expertise and
knowledge as much as taste is involved. Stones; be they diamonds, opals or topazes
are living things, every single stone is unique. I was shown a necklace at Bulgari once,
whose ruby drops had taken two years to match in colour and size. Collections of
17jewellery often take two years to be produced and of course every piece in a one off
since the stones cannot be exactly the same if the piece is made again.
Many jewellery houses run course for clients to learn more about the process and the
stones. These are very successful and Cartier or Van Cleef & Arpels have a series of
subjects for those interested to take up.
“We all know that splashing out on designer fashion labels can be expensive.
Nonetheless, the idea of paying six figures for a used handbag may sound somewhat
extreme. Increasingly, though, serious collectors are spending this kind of money at
auction for the ultimate handbag “must have” – the exotic Himalaya Birkin, produced
by Hermès.”
It may seem like misguided decadence to splash cash on a designer handbag but it
could prove to be a better investment than the stock market or gold.
While the FTSE 100 index gained 12 per cent last year, Hermès Birkin handbags
increased in value by 13 per cent, outperforming other collectable items such as fine
wine, art, watches, jewellery or whisky.
Birkin bags are so popular at auctions that an index has been created by Art Market
Research to track their growing value. Over the past ten years the FTSE and gold,
often regarded as a safe haven for wealth, both increased by 39 per cent while Birkin
bags grew in value by 108 per cent, according to the Wealth Report published by
Knight Frank.
• https://www.thetimes.co.uk/article/bag-the-investment-that-outstrips-gold-
3p93wmm3s
• https://www.sothebys.com/en/departments/handbags-and-accessories
• https://www.elle.com/uk/fashion/what-to-wear/a30859/best-investment-bags/
Handbags Private Sales:
At Christie’s, we recognise that collectors are often looking for a special handbag or
are seeking to buy or sell a handbag outside of the auction season. Christie’s Private
Sales is a tailored and bespoke process through which our team of handbag
specialists work one-on-one with you to either source or sell your item in the strictest
confidence, utilising our global network of collector relationships.
Christie’s Handbags specialists are available for appointments and hold private selling
exhibitions worldwide.
We invite you to contact us for confidential discussions should you wish to purchase
or sell works through the Handbags Private Sales.
• https://onlineonly.christies.com/p/christies-handbag-shop/16
18Introducing the Savoir-Faire of the Dior 'Lady D-Lite' Bag
• https://youtu.be/6YIAidw_Npc
• https://www.theglassmagazine.com/bulgari-debuts-alexander-wang-x-bulgari-
serpenti-2020-capsule-collection/
Spilling the tea on Hermes! Myths Debunked!
Playing the Game, how to score a Birkenstock, Kelly or more.
• https://youtu.be/7nVn2bsOGyc
The craft, the heritage and the perfection of every element in the name, the brand and
the house is legendary in luxury terms. From saddlery to jewellery the house stamps its
restrained elegance on every product. The legendary scarves are prized across the
decades and worn by some of the most elegant women of the past fifty years. Each
design is known and understood by collectors and at auction it’s the knowledgeable
who alight on a rare or unusual design.
I once went to a tiny sale of Hermes scarves at the headquarters in the rue du
Faubourg Saint Honore. The scarves on sale were unfinished, that is to say the hand
rolled edges had not been done so any purchaser would need a specialist to do this
19task, the scarves in this sale had minuscule imperfections (I believe this is no longer
allowed). Two women dressed head to toe in couture actually physically fought over a
scarf. I always think this is an indication of the empowerment and beauty of Hermes.
Founding Hermès Paris:
Hermès founder, Thierry Hermès, was born in Krefeld, Germany. His family relocated
to France in 1828, at which time Thierry began learning the trade of leather making.
Nearly a decade later in 1837, Thierry took his talents to the Grands Boulevards
quarter of Paris, establishing a harness workshop that served the wealthy noblemen of
Europe. Here, Hermès crafted high quality, wrought iron harnesses and bridles for
those in the carriage business. It wasn’t long before Hermès was recognized for his
innovations. He went on to win the first prize at the Expositions Universelles in Paris in
1855, and again in 1867.
Thierry Hermès passed away in 1878, leaving his workshop to his son, Charles-Emile
Hermès. Charles-Emile established the brand’s flagship store in Paris in 1880, moving
his father’s workshop to 24 Rue du Faubourg Saint-Honore, where it still remains
today. With the help of his two sons, Adolphe and Emile-Maurice, Charles-Emile
began selling saddlery. By expanding his brand’s offering, he was able to cater to elite
clients from all over Europe, Russia, North Africa, Asia, and the Americas. Adolphe and
Emile-Maurice also assisted their father in creating the ‘Haut a Courroies’ bag, the
brand’s first handbag designed for riders to carry their saddles while traveling.
• https://www.designerfashionconsignments.com/a-brief-history-of-hermes/
• https://www.wmagazine.com/gallery/hermes-timeline-ss/#undefined
• https://en.wikipedia.org/wiki/Hermès
The market value for Hermès broke 80 billion euros for the first time in history after its
stock price went up for 5 percent in the past week. At the same time, the market cap
of the LVMH Group reached 203 billion euros, the second time it exceeded 200 billion
euros. And the stock price of the Kering Group surged for 12.5 percent, bringing its
market value to near 67 billion euros — the same pre-COVID-19 levels — indicating
the strong rebound of the leading luxury groups.
• https://jingdaily.com/hermes-hits-record-high-market-value-amid-covid-19/
• https://finance.hermes.com/en/Releases/All-releases
• https://www.globenewswire.com/news-
release/2020/04/23/2020600/0/en/Hermès-International-1st-quarter-2020-
sales.html
20• https://www.globalcosmeticsnews.com/hermes-q1-2020-store-closures-see-
revenue-fall-6-5-percent/
• https://sg.asiatatler.com/style/post-covid-19-hermès-earns-2-7-million-in-
sales-on-reopening-day-china-guangzhou-flagship-store
• https://www.thefashionlaw.com/hermes-posts-strongest-performance-in-
luxury-sector-while-its-coveted-bags-withstand-pandemic-pressures/
Jewels:
High jewellery from any of the great houses is truly investment. Expertise and
knowledge as much as taste is involved. Stones; be they diamonds, opals or topazes
are living things, every single stone is unique. I was shown a necklace at Bulgari once,
whose ruby drops had taken two years to match in colour and size. Collections of
jewellery often take two years to be produced and of course every piece in a one off
since the stones cannot be exactly the same if the piece is made again.
Many jewellery houses run course for clients to learn more about the process and the
stones. These are very successful and Cartier or Van Cleef & Arpels have a series of
subjects for those interested to take up.
21Bulgari have been much in the news with the work they have undertaken during the
times of COVID 19.
• https://www.bulgari.com/en-int/stories/bulgari-donation-to-oxford-university-
vaccine-research.html?story=true
• https://www.bulgari.com/en-int/stories/bulgari-donate-hand-sanitizer-against-
coronavirus-uk.html?story=true
Bulgari:
Richard Burton. “I taught Elizabeth about rugby and she taught me about Bulgari”
Founded in 1884; 136 years ago, by Sotirios Voulgaris, Headquarters are in Rome,
Italy chairman is Paolo Bulgari, and CEO Jean-Christophe Babin.
Website: www.bulgari.com
Bulgari (BVLGARI) is an Italian luxury brand known for its jewellery, watches,
fragrances, accessories and leather goods.
While the majority of design, production and marketing is overseen and executed by
Bulgari, the company does, at times, partner with other entities. For example, Bulgari
eyewear is produced through a licensing agreement with Luxottica, and Bulgari
formed a joint venture with Marriott International in 2001 to launch its hotel brand,
Bulgari Hotels & Resorts, a collection of properties and resort destinations around the
world.
Currently part of the LVMH Group, Bulgari was founded in the region of Epirus,
Greece, in 1884 by the silversmith Sotirios Boulgaris as a single jewellery shop that
has, over the years, become an international brand. The company has evolved into a
player in the luxury market, with an established and growing network of stores.
• https://www.bulgari.com/en-int/the-maison/about-bvlgari/bvlgari-history.html
22Muse Arabia/ Bvlgari Unveils Jannah The New High Jewellery Collection At The
Louvre Abu Dhabi
• https://youtu.be/z6CTnJ0gZOM
Bvlgari Webinar - Innovating The Present For A Sustainable Future
• https://hypebeast.com/2020/2/bulgari-baselworld-2020-news
• https://youtu.be/QE5hhWl6PIM
Fake Crown Jewels:
It’s not all easy in luxury.
Hermes Fakery:
Luxury can be vulnerable, whether it’s a Picasso or a Birkin.
23• https://www.theguardian.com/world/2020/jun/24/ex-hermes-staff-appear-in-
court-over-fake-designer-handbags
• https://www.cnbc.com/2020/02/29/tiktok-teens-are-obsessed-with-fake-
luxury-products.html
• https://www.dlapiper.com/es/spain/insights/publications/2020/04/law-a-la-
mode-30th-edition/legal-fakes-the-fabulous-destiny-of-copycats/
• https://www.industryweek.com/the-
economy/regulations/article/21936106/louis-vuitton-wins-landmark-counterfeit-
case-in-canada
Sustainability:
The fascinating thing about the subject of sustainability is that it can be a tiny thing in a
local situation, or it can be a huge global incentive. The subject will assume more
importance in the light of the most recent climate news.
24• https://s2.washingtonpost.com/camp-
rw/?trackId=5eda11d1ade4e276b35f8025&s=5ef9664afe1ff6482dafa3ed&linkn
um=7&linktot=88
• https://www.theguardian.com/education/2020/jun/24/fashion-graduates-have-
a-unique-opportunity-to-make-retail-sustainable
• https://beyond2020.se/
• https://www.un.org/sustainabledevelopment/goal-of-the-month/
• https://esdw.eu/
GAP:
Kanye West has announced a clothing collaboration with the Gap.
The team-up between West’s Yeezy brand and the retailer, which West hashtagged
#Westdayever, will go live in stores in 2021 and will feature an affordable range of
menswear, womenswear and kids’ clothes. Notably missing from the collaboration
was any footwear, which would impinge on his hugely successful collaboration with
Adidas. The American retailer will be hoping that West’s star power will help the ailing
brand, who reported a quarterly loss of $932m (£738m) in the three months to 2 May.
25Gossip.
Twitter:
T.G.
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