New Wind
Disruption is a buzz word that has been on many people's lips for quite a while now. Many forecasters and business pros have been talking for a few years about the fact that the third decade of the 21st century will bring much change to the world - so much change that some people even claimed that the year 2030 may look nothing like the year 2020. The ground on which these changes would take place is, of course, the advent of new technologies. The Internet of Things, 5G, the blockchain, AI and other technologies have the ability to reshape the world. We've already seen changes to many industries (including in the jewelry sector) which were brought by the use of these technologies, but so far, the impact has been minimal in comparison to what is most likely to happen.
The recent outbreak of a new coronavirus has thrown the world into a panic and has rapidly shifted the way we relate to gatherings, at least for a certain time. In this sense, many industries have had to rethink the way they do business, interact with their customers and everything in between.
Because major events - and then smaller events too were banned by governments worldwide and because there was a generalized crazed around meeting people, a lot of events have been shifted to an online format. Surely, this is not by far as effective as an in-person format and it doesn't even make much sense in some cases. Moreover, the lockdown (which is probably going to be the word of the year in 2020 - or something related to it) - has unfortunately affected everything from the creation of prime materials to the distribution of finished goods.
In this sense, we could see many changes in the fashion world, which were expected by some, but not so soon.
Earlier this year, in mid-spring, Saint Laurent became the first major brand to officially leave the fashion calendar. The label announced that it would not take part in the upcoming edition of Paris Fashion Week, but that this does not mean that it won't come back. It doesn't mean that it will either. The Parisian label announced that it would simply march to its own beat, given that now things are characterized by such a high degree of uncertainty. Surely, many small brands were doing that already, as lots of designers were showcasing collections whenever they were ready or when they could afford it, but the fact that such a major brand like Saint Laurent has taken this route is an indicator of a great disruption in the sector.
In late June, PFW announced that it would go ahead with its in-person shows starting September 28.
In Milan, the men's fashion week has been postponed for September, to coincide with the women's shows. So far, the usual headliners are all still expected to participate. PFW also pressed the pause button on its menswear and haute couture shows. Meanwhile, London Fashion Week has gone full digital, as it invited its designers to provide content in early June.
After announcing that it would postpone its show for September (instead of the classic June), Pitti Uomo also announced that it would create a strong online platform called Pitti Connect where brands, media and buyers will be able to meet. Agostino Poletto, general manager of Pitti Immagine, explained: "Pitti Connect will make it possible for exhibitors not only to better communicate all the facets of their brand identity but will also have advanced functions for managing access to the marketplace and the order phase."
There has been talk on the streets of fashion on what the future of Fashion Week will be, and, while the future is not certain, we can say that FWs will very likely become smaller and therefore, even more exclusive.
We are also very likely to see a decrease in fashion production, as people will buy less clothes that they will use for a longer time.
A New Chapter: Chapter 11
Another thing that is shaping the fashion world is the filing for bankruptcy of many brands. Neiman Marcus and J. Crew are just some of the big names that have filed for bankruptcy, which means that they are looking for some type of monetary support, not that they are going to close down. Of course, this is not good for their PR, as you don't want your dressy clothes to be associated with bankruptcy. What needs to be pointed out is that many labels were already in trouble. In 2019, before the shutdown craze, many brands had already filed for bankruptcy. Barneys, Forever 21 and Diesel USA were all applied for bail-outs last year. In other changes, Zac Posen had shuttered his brand and other brands were spun away from their struggling parent brands.
Back to 2020, we could see a continuation of this stream of events, with J.C. Penney filing for Chapter 11 in May, soon after John Varvatos, J.Hilburn and other known names had done the same. What this means is that we are going to see some brands disappear from the market and that those that will make it will most likely restructure. Zara, while it did not go bankrupt, announced that it will close about 1200 stores. Disruption, again, is the key word.
Passing It On
A great endeavor has come from Van Cleef & Arpels, which in the spirit of supporting art and education as well as perpetuating the culture of jewelry has decided to publish videos online from which people can learn about jewelry and gemstones. The Universe of Gemstones, Art History of Jewelry and, Savoir-Faire are the titles of the videos brought by the L'ÉCOLE School of Jewelry Arts together with the luxury brand. The videos are really amazing and highly educational - definitely worth watching!
Seasonalities
In the midst of everything that was happening, US Vogue's Anna Wintour also gave an interview in which she stated that the crisis has been a catastrophe for the fashion industry and added "I think everybody is rethinking what the fashion industry stands for, what it means, what it should be." Wintour also added that she believes that in the near future, people will be more considerate towards fashion and more careful in their shopping choices when it comes to clothes. Extreme consumerism may be ending according to her. Of course, her statement comes in the context of the 2020 Met Gala being canceled, which would have had as its theme "About Time: Fashion and Duration" - so maybe Anna's going for a self-fulfilling prophecy?
In other Anna Wintour news, the Vogue editor has also drawn much negative press (or just press?) recently, as André Leon Talley wrote in his new memoir that, even though the Editor-in-Chief of Vogue helped his career grow, she is not capable of human kindness". He added: "I wonder, when she goes home alone at night, is she miserable? Does she feel alone?" ¡Escándalo!
Soon, more news about brands leaving the fashion calendar appeared, as Gucci posted on their IG account a page from Alessandro Michele's personal diaries, which stated that "I will abandon the worn-out ritual of seasonalities and shows to regain a new cadence, closer to my expressive call. We will meet just twice a year, to share the chapters of a new story. Irregular, joyful and absolutely free chapters, which will be written blending rules and genres, feeding on new spaces, linguistic codes and communication platforms."
The current crisis is definitely a stepping point for many industries, including the fashion industry, which has hinted at wanting to make changes for some years now and now has the opportunity to do so. In the long term, fashion, especially high fashion, will most likely become very exclusive and inaccessible. Moreover, while clothing will feel inclusive, they will most likely be quite exclusive, in that small and big brands will rarely meet and the same goes for their customers. Most likely, we will know more about the changes that will occur in the fashion world in the next crisis (which will happen in the next months most likely), but it can be said that the general direction is quite clear.
Fraquoh and Franchomme
P.S. What do you think of the changes happening in fashion? How will the fashion of the future look like? Why? Share your feedback, questions or thoughts in the comments below! For more articles on style, fashion tips and cultural insights, you can subscribe to Attire Club via e-mail or follow us on Facebook, Twitter or Instagram!
