The Business of Fashion Podcast

The Business of Fashion

A weekly podcast presenting thoughtful editorial stories and fashion-oriented perspectives in a fresh way.

  • 16 minutes 16 seconds
    Vennette Ho on the Future of Beauty M&A

    2024 has the potential to be a dynamic year for dealmaking in beauty, as brands including Makeup by Mario, Kosas, Merit and even Selena Gomez’s Rare Beauty begin exploring their strategic options. But strategic buyers and private equity firms are also adopting more selective acquisition strategies.


    At The Business of Beauty Global Forum 2024, Vennette Ho, managing director and global head of beauty and personal care at investment bank Financo Raymond James shared her expert views  on this year’s M&A scene in the beauty industry. Vennette is the industry’s most respected investment banker, so when she talks, the beauty industry listens.


    “M&A happens when there's a fundamental change in the consumer. The consumer needs and the consumer wants are something that the strategics today don't have,” Ho explained. “Every time there's an evolution of a consumer need or want or expectation, M&A has to become a necessity for large strategies to look at.”


    This week on The BoF Podcast, Imran Amed, BoF founder and editor-in-chief sits down with Ho to discuss the evolving nature and market of the beauty industry.


    Key Insights: 

    • According to Ho, consumer expectations for beauty brands have changed, as well as how they engage with them. Acquiring indie brands helps conglomerates meet those expectations. “A lot of the big companies don't have … the ability to incubate internally, they don't have the ability to come up with something. It really comes honestly from the hearts of founders and it comes from private companies. As a result, M&A becomes really necessary,” she says.


    • Ho advises founders to get to know lots of potential acquirers when considering a potential acquirer, in order to understand who shares your values before making a deal. “It also goes for the other side that they feel like they know you and you can have a better alignment from the beginning,” she adds. .


    • The perfect exit process is not just about the closing of the deal but also what happens after. “What happened six, 12 months, three years after the deal happened? Are people still feeling the same way? I think that's where we get the most pride and say, ‘Okay, this actually impacted the industry in some huge way that went beyond just that moment of the deal,’” says Ho. 


    • Looking towards the future of the industry, Ho believes we’ll continue to see the breakdown of beauty category silos. “I think some of the most interesting and most disruptive companies don't actually fit into that mould and don't actually fit into a traditional thing,” she said. “The consumer doesn't think, ‘Is this a prestige brand? Is this a mass brand? Is this a skincare brand?’. They're thinking, ‘Is this a brand that I want to engage with that engages me in a certain way?’ There's a really exciting democratisation of things where brands can exist in different channels at the same time.”



    Additional Resources:



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    19 July 2024, 4:14 pm
  • 30 minutes 50 seconds
    Why the Fashion Industry Needs a Makeover

    In a special episode, BoF founder and editor-in-chief Imran Amed joins Bob Safian on the Rapid Response podcast, part of the respected Masters of Scale series.


    “The most interesting thing you can do, if you look at historical photos going back 50 or 100 years, is to look at what people are wearing. It gives you a sense of what's happening in the world at that time,” said Amed. “When we look back to 2024, and see the Hoka sneakers, the athleisure, and the streetwear looks that people are wearing, these are a reflection of what's happening in the world right now. That's what makes fashion so powerful.”


    In their conversation, Amed and Safian discuss the rapid growth of the global fashion business, the dominance of the megabrands and the resulting crisis of creativity and challenges faced by independent fashion brands, as well as the impact of ultra fast fashion brands like Shein and Temu.  



    Key Insights: 


    • According to Amed, the fashion industry's focus on business growth is stifling creativity,  leading to a homogenised market, where innovation is increasingly scarce. "Creatives are being put into boxes and forced to work in ways that are all about meeting the demands of these large, now publicly traded companies that are analysed by all the same investment banks and analysts as Procter & Gamble and Apple. When you're in these big public companies, every quarter you have to show growth, and it really puts a drain on creativity."


    • Independent designers are facing significant hurdles in a market dominated by mega brands. "The big brands in this industry have become so big, so dominant that it makes it really hard for younger independent designers,” Amed explains. “Lately, I've just had this feeling that the early stage part of our industry is not very healthy. There's been a lot of things happening in the industry that have just made it really, really hard."


    • Amed believes artificial intelligence is poised to revolutionise the fashion industry. "It's going to be really interesting to see how leaders on both the creative and the business side of fashion begin to integrate AI tools and processes into the way they run the business but also the way they run the creative process. Some of the designers I'm talking to are already using some of these tools."


    Additional Resources:



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    12 July 2024, 6:00 am
  • 53 minutes 37 seconds
    Tim Blanks and Imran Amed on Haute Couture Week A/W 2024

    Paris Couture Week has come to a close, and Tim Blanks and Imran Amed sat down for their seasonal review of all the most important  collections — from Schiaparelli to Armani, the standout looks, and of course the designers who brought them to life. 


    They also discuss the significance of Dries Van Noten’s final collection, which was the most important moment during the menswear shows, and also how the brand will take things forward now that Dries is stepping back. 


    “Alain Gossuin, the first model on the catwalk, was the first model in Dries’ first show. They had to dig for those models. They had to really get out there and find all these people and it was spectacular. All of that was very emotional, but I think Dries really kept the lid on it with the way that he came out at the end and waved as if to say, ‘maybe I'll be back soon.’” 


    Key Insights: 


    • Down to the way the models moved, Daniel Roseberry's collection for Schiaparelli was a cinematic spectacle, merging traditional haute couture craftsmanship with futuristic design elements. “When [the models] stared at you it was challenging. They weren't staring at you to welcome you into their world.They were imperious. It's quite piercing but it was so deliberate that it felt like a different element in the show,” shared Blanks.


    • In light of Virginie Viard's departure, there is now a significant opportunity for change at Chanel. “If they want to take a chance on change, it's an amazing time to do that. Chanel is codes — and whoever goes in there has to understand those codes — but there's stuff you can do with those codes,” remarked Blanks.


    • At Gaultier, Nicolas di Felice’s interpretation of the French house left a lasting impression. “The intensity of the audience's engagement with him was so genuine you could see the future,” said Blanks. “He's quietly created an authentically cultivated real sense of goodwill amongst people. I think people in the industry are really rooting for him.”


    Additional Resources:


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    5 July 2024, 1:35 pm
  • 42 minutes 57 seconds
    Diane von Furstenberg on the Making of Her New Documentary

    From her miraculous birth as the daughter of a Holocaust survivor to becoming a fashion powerhouse with her signature wrap dress, Diane von Furstenberg's remarkable journey is one of resilience, innovation, and empowerment.  


    In a new documentary about her life called "Diane von Furstenberg: Woman in Charge,” Academy Award-winning filmmaker Sharmeen Obaid-Chinoy combines archival footage and intimate interviews with von Furstenberg’s closest friends and family to paint a vivid picture of a woman who has always been true to herself and her vision.


    “The most important thing is to work hard at being true to yourself and liking yourself. If you are true to yourself, you are free,” shared von Furstenberg. 


    “Women are defined by society and placed in boxes and labels, and sometimes are forced to make decisions that they don't want to,” added Obaid-Chinoy. “Diane's story coming at a time like this is so important because it is an anthem of freedom.”


    This week on The BoF Podcast, von Furstenberg and Obaid-Chinoy speak to BoF founder and editor-in-chief Imran Amed at the London premiere to share their experience of making the documentary and the new learnings this process surfaced about a life well lived.  


    Key Insights: 


    • When creating documentaries, Obaid-Chinoy’s goal is to carefully peel back the layers of a person until reaching their core. After countless hours of conversation and travel with von Furstenberg, she believes she succeeded. “This is a story about a woman who faced adversity and rose up each time. I feel like all my films are about women who are faced with extraordinary circumstances. And Diane fits right at the heart of it.”



    • For von Furstenberg, the documentary also tells a crucial tale of her mother and her legacy. “It's about this woman who refused to die, who refused to be a victim, who told me never to be afraid, who never told me to be careful, who wanted me to have a big life,” she shared. “when you have a strong mother, you know, and you're being told that you are her torch of freedom. That torch could be heavy. But that's what was given to me. And I honoured her.”


    • Themes of gender, autonomy and power are central to the film, but ultimately, for von Furstenberg, the ability to connect with oneself is paramount. “Being in charge is not an aggressive thing; it's owning who you are. … The most important relationship is the relationship we have with ourselves.”

     


    Additional Resources:




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    28 June 2024, 3:25 pm
  • 40 minutes 52 seconds
    Deena Aljuhani Abdulaziz on Redefining Arab Fashion Media

    Deena Aljuhani Abdulaziz was drawn to fashion from a young age, devouring issues of Vogue and Tatler. This led her to set up D’NA, a members-only boutique based in Saudi Arabia and Qatar. 10 years later when she closed her boutique, she became the founding editor in chief of Vogue Arabia – but soon parted ways with the publication due to a misalignment in values.


    Now, Aljuhani Abdulaziz is back with her own media publication, on her own terms. ‘Deenathe1st.com’ is an editorial lifestyle website dedicated to fostering a creative community that celebrates Arab culture. 


    “What I hold dear is what anybody would hold dear. Representing my culture correctly and fairly,” she says. “And it's not trying to show off Western ideas to the region. It's the other way around. It's showcasing the region and what we share creatively with the rest of the world.”

    This week on The BoF Podcast, Aljuhani Abdulaziz joins BoF founder and editor-in-chief Imran Amed to share her career journey, the lessons she’s learned about fostering culture and community, and why the fashion community needs a new publication. 


    Key Insights

    • Born in California but raised between the US and Saudi Arabia, Aljuhani Abdulaziz is an expert code switcher who’s always felt able to act like a cultural bridge between the two worlds. “It never felt like an effort. It just came naturally. I think that's part of what makes me who I am in a sense,” she shares. “It's not just in figures of speech, but also in how you would interact with people, because there are different customs and traditions in different regions and in different households. It's really about a state of mind.”


    • Aljuhani Abdulaziz’s first fashion influence was her mother, who she describes as “still very, very chic.” As a child, her discovery of Tatler magazine pushed this passion even further. “I picked it up and I opened up its pages and I was like, ‘Oh my goodness, this is it!’ I was just so grateful and happy that it existed.” 


    •  Aljuhani Abdulaziz’s stint at Vogue Arabia ended abruptly after just two months. “I understood the responsibility of being a voice for a very big region, being Arab myself,” she said.  “I think there was a point when that didn't align and the visions were not parallel.”


    • Looking to the future, Aljuhani Abdulaziz says she is building her editorial lifestyle platform ‘Deenathe1st.com’ on the basis of community, shared values, and kindness. “I think that it's super important to remind people that you don't have to be nasty to be stylish or to be in fashion or to be chic,” she said. “I would love to continue my love letter to Arabia. That's really what I'm trying to do with this site.”


    Additional resources


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    21 June 2024, 3:29 pm
  • 1 hour 53 seconds
    Law Roach on Keeping Busy After ‘Retirement’

    As a self-styled “image architect”, Law Roach has earned global recognition for the red carpet looks he has created for some of the most famous — and most photographed — women in the world.

      

    But in 2022, when he suddenly announced his retirement on Instagram, writing “If this business was just about the clothes I would do it for the rest of my life but unfortunately it’s not! The politics, the lies and false narratives finally got me! You win…I’m out.”


    While Roach continues to work with top clients Celine Dion and Zendaya — he was the mastermind behind Zendaya’s tennis-inspired “Challengers” press tour earlier this year — he’s also pursuing his entrepreneurial ambitions. Later this year,  he will launch a new online learning  platform to train the next generation of stylists. 

    “It was hours and hours of me talking with a script writer and being recorded to get out all my processes, from the way I set up a room to style and the psychology of choosing the right dress. So it's super comprehensive and I'm super proud of it. And we’re launching it with me as the very first instructor.”


    This week, on the BoF Podcast, Roach joins me to trace his career right from the beginning when he was selling thrifted clothes from the trunk of his friend’s car in the South Side of Chicago and to exclusively share the details of his new online learning platform and what he hopes people will learn from it.


    Key Insights:

    • Roach’s first memories of fashion are from his childhood in Chicago. “My first runway show was church on Sunday morning, watching those women with the hats and the outfits, but high fashion had always been something that was very aspirational but also seen very unattainable at the same time.” He then began his career selling vintage pieces from the trunk of a friend’s car before moving to a brick-and-mortar storefront. “That turned into a revenue stream for me and which then turned into a boutique, which turned into Kanye West coming in one day,” he said. That celebrity attention led to “global recognition about this little store in Chicago.”


    • Roach has worked with his most high-profile client, Zendaya, since she was a teenager. Back then, he had trouble finding brands that were willing to dress her, which forced him to get creative. “She became one of the best dressed, most looked at stars on the red carpets and had not even worn any of these brands. So at that point I was like, ‘I kind of don't need you.’ We had just worked so hard to make her this thing that everybody wanted without using the traditional tools of getting there,” he shared. 


    • With his new online learning platform, Roach wants to encourage greater representation and open up opportunities in the industry.  “Ours is a comprehensive collegiate level, educational, educational coursework. Everything that I've used to become who I am is in there.”


    • Despite the various challenges in his career, Roach’s unwavering self-belief has carried him to where he is today. “No matter how many doors are closed, no matter how many times people ask me to get out of my seat at a fashion show, no matter how many times people say no, I came to L.A. to be considered the best or one of the best, and there was no way that anybody could deter me from that. I really, honestly believed in myself.”


    Additional Resources:


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    14 June 2024, 5:08 pm
  • 18 minutes 51 seconds
    Gucci Westman and David Neville on Creating a Luxury Beauty Brand That Lasts

    Husband and wife duo Gucci Westman and David Neville’s luxury beauty label Westman Atelier has become an industry favourite, winning fans for its curated collection of cosmetics, holistic approach to beauty and strong focus on ingredients.


    “Our customer knows that she's getting something that is clean, is going to perform, is going to be good for her skin, and is going to be a luxury experience she hasn't had before,” said Westman. 

     

    “We think about brand-building in the literal sense of building a brand brick by brick. Every day we are building our team, building our capacity, building our assortment, introducing new products,” shared Neville. 



    In this conversation from The Business of Beauty Global Forum 2024, Priya Rao, executive editor of The Business of Beauty, sits down with Westman and Neville to discuss how they’re building a multidimensional luxury beauty brand that lasts.



    Key insights:


    • Growing up in Sweden, Westman said that the importance of high quality ingredients was instilled in her at a young age. “The Swedish lifestyle is all about value over quantity, having a slow burn and really savouring that experience. I think that really informed my ideas around what we should do and how we should do it,” she shared.  


    • Neville believes that a product focus is crucial to longevity. “We spent about three and a half years prior to launching in the market just developing with a singular focus on our products. That mentality has been with us all along this journey.” 


    • Westman highlights trust as another essential ingredient to their brand formula. “Our customer knows that she's getting something that is clean, is going to perform, and is going to be good for her skin. I think we've established this sort of loyalty and trust is imperative in this kind of thing.”


    • To build a brand that lasts, Westman Atelier’s strategy is to take it all one step at a time. “We think about brand-building in the literal sense of building a brand brick by brick. Every day we are building our team, building our capacity, building our assortment, introducing new products. We're building awareness through new customer acquisition, whether that be direct to consumer or through our retail relationships,” said Neville. 


    Additional resources



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    7 June 2024, 2:53 pm
  • 46 minutes 7 seconds
    Héctor Bellerín on Football, Fashion and His New Brand, Gospel Estudios

    Footballer Héctor Bellerín first made a name for himself with his defensive skills on the pitch but it’s his outspoken views and distinctive personal style that have transformed the Spanish right-back into a cultural trailblazer.


    Now, Héctor, who has been called “the world’s best-dressed footballer”, is launching a new label, Gospel Estudios, which has served a creative outlet as he continues to play football.


    “This was a way to recharge my battery. It was a way of learning something new, do stuff with my hands, trying new things. It was a process of discovery and learning and trial and error,” he says.


    This week on The BoF Podcast, Héctor sits down with me to talk about the burgeoning relationship between fashion and football, how he developed his strong sense of personal style, and to share his plans for the launch of Gospel Estudios for the first time on The Business of Fashion.


    Key Insights:


    • After starting his career in Barcelona, Bellerin moved to London in 2011 to play for Arsenal. During his nine years at the club his off-duty style gained him both media admiration and criticism. “I got a lot of stick when I was at Arsenal and things didn’t go well, a lot of people used to say he’s not playing well because he’s focused on fashion,” he says.
    • Héctor Bellerín looked to another footballer, David Beckham, as an example of how to bridge the gap between fashion and sport. “He opened doors for everyone. And I think not just in football, but for men overall … In these very masculine places it’s very hard to be different.”
    • At Gospel Estudios, dependence, rather than independence, is the foundation upon which Bellerín is building his sustainable brand. “My mom works in the studio. My friend’s dad works in the studio. My granddad repaired sewing machines back in the day so he repairs the same machines,” he says. “It’s important to let people know that we are dependent. We are dependent on a lot of people.”
    • Sharing his philosophy on responsible consumption, Bellerín encourages potential buyers of Gospel Estudios to really think about the item in question before they buy it. “Take the time to just breathe and think, is this something that I am ready to have a relationship with? Because this is what it is.”


    Additional Resources:


    • Inside the Big Business of Styling Athletes: NBA stars and footballers are leaning on a network of powerful style consultants to help shape their personal brands outside of their day jobs, laying the groundwork for lucrative brand deals.
    • Why Luxury Brands Want in on Football: Despite the rocky history between fashion and football, luxury brands from Moncler to Dior are looking to benefit from the cultural power and global audience of the world’s most popular sport.
    • How Athletes Became Fashion Week Royalty: It’s not just sports superstars sitting front row at fashion week. Today, luxury labels are looking to work with emerging athletes from niche sports, giving rise to new dealmakers who match brands with eager skateboarders, boxers and rugby players.

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    31 May 2024, 4:15 pm
  • 44 minutes 33 seconds
    Charles Jeffrey on 10 Years of Loverboy

    In 2014, in a nondescript basement club in East London, Charles Jeffrey’s Loverboy was born. At the age of 18, the Scottish-born designer moved from Glasgow to London to pursue a BA in Fashion Design at Central Saint Martins and has since earned his place in the long line of highly creative fashion designers coming from the city. With an upcoming exhibition at Somerset House, the one time upstart is ready to look back on 10 years of his brand.


    “I'm Charles Jeffrey, I'm not Alexander McQueen, I'm Charles Jeffrey, I'm not Gareth Pugh. I'm Charles Jeffrey, I'm not John Galliano,” he said. “I have a way of looking at fashion and I want to nurture that and see it to its end.”


    This week on The BoF Podcast, Jeffrey joins me to share his journey into London’s fashion scene and reflect on the past, present and future of Loverboy, underscoring that he has his own unique vision to contribute to fashion. 


    Key Insights:


    • Jeffrey credits video games for sparking his interest in fashion design. “I was a big geek and me and my friends would play in the forests and play Lord of the Rings with sticks. I would sit and draw the outfits and characters that we would all be. We all had our own alter egos and we would just really live in that world.” 


    • Since the inception of Loverboy, Jeffrey was conscious of building a brand, and chose not to name the brand after himself. “I could have had a business that was just called Charles Jeffrey but I wanted to keep that Loverboy thing because I felt it was a sticky kind of concept. I could apply it to products, Loverboy tartan, Loverboy polka dot, Loverboy pinstripe, or the Loverboy beanie,” he said. “All these things, you start to give them names; it's the psychology of business and brands and advertising.”


    • Jeffrey understands that creating core hero products is essential to creating brand loyalty and drawing in customers to discover other products.  “How can I make a beanie, which is a bit of a novelty and a throwaway, something that people will buy from us for another ten years? How do you change the perspective of that to somebody so that they come to us for that but then the psychology of this novelty beanie also makes them think, ‘I bet they do great jumpers or I bet they do a really nice bag’.” 


    • Looking to the future, Jefrrey’s  aim is to create a sustainable, independent business. “My goal, in the next three to five years, is to build an element of the brand that's not reliant on a wholesale model, that's not relying on the fashion model, per se.” he says. “You can push the brand into all these spaces but if the sell-through isn't right, if you've not got the story behind it, if you've not got the relationship with the clients, it just dies a death.”


    Additional resources 


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    24 May 2024, 2:21 pm
  • 43 minutes 54 seconds
    How Esteban Cortázar Got His Groove Back

    Esteban Cortázar first fell in love with fashion as a teenager growing up in Miami. Over the years, his career in fashion has come with lots of ups and downs. After he became one of the youngest designers to ever present at New York Fashion Week he had to shut his label down. He went on to become the creative director of Emanuel Ungaro at just 22 years old, before leaving after he disagreed with the owners’ plans to bring on Lindsay Lohan as a consultant. He relaunched his eponymous fashion house but it closed during Covid. Now, Esteban is launching ‘Donde Esteban,’ a new brand on his own terms, on his own schedule, celebrating his roots in Colombia, Miami and Ibiza. 


    “Where we can lack as young designers or as designers doing independent brands is that it's really like a puzzle,” says Cortazár. “And you have to have all of the pieces in place for it to work. Having an investor is certainly not enough, you really need to have all of the different angles in place, especially today, to be able to sustain a business.”


    This week on The BoF Podcast Esteban joins me to share his career journey and the lessons he’s learned about building an independent fashion business today.


    Key insights:


    • Born to a Colombian painter and former British jazz singer, Cortazár’s childhood straddled continents, lifestyles, and subcultures, all of which has greatly influenced his artistic sensibilities. “I grew up around a very bohemian environment through my family and my parents — colours and paints and oils and instruments. That already set the tone of a very artistic point of view from a very early stage,” he says. 


    • Emulating what he saw in the fashion magazines he devoured as a teenager, Cortazár’s early shows were always organised to a professional standard despite his young age and lack of training.


    • Cortazár jumped at the opportunity to become creative director of Ungaro at the age of 22. “I knew how much questioning there was going to be from the industry about me and my age, my experience, my lack of experience. I just took it and I went for it because I knew that that kind of opportunity wouldn't just continue to come like this.”


    • Heavily influenced by his upbringing, Cortazar’s new label Donde Esteban is somewhat of a homecoming. “My take on fashion has changed and evolved and I wanted to create something that felt so authentically me, that really celebrated the multicultural aspect of my life. The fact that I was born in Colombia, grew up in Miami, then went to New York, then went to Paris, that I spent all my summers in Ibiza.”


    Additional resources:



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    17 May 2024, 4:29 pm
  • 46 minutes 35 seconds
    Vanessa Friedman on the Past, Present and Future of the Met Gala

    The first Monday in May has become synonymous with the Met Gala. Every year, celebrities and brands come together on the steps of the Metropolitan Museum of Art. This year’s theme was The Garden of Time and attendees went to enormous efforts to try to catch the spotlight amid one of the busiest red carpet moments of the year, orchestrated by Anna Wintour, global chief content officer of Conde Nast and editor-in-chief of American Vogue.


    “Anna Wintour has raised the ante every year to the extent that this Met Gala made $26 million in one night,” says New York Times fashion critic Vanessa Friedman on this week’s episode of The BoF Podcast. “The amount of social media impressions it generates is beyond compare. The guest list that she curates, because it is an entirely curated guest list, is like nothing else.”.


    Friedman joins BoF founder and editor-in-chief Imran Amed to share her journey into fashion journalism, reflect on what this year’s Met Gala says about the state of fashion and culture and of course, dissects the standout looks of the night.


    Key Insights:


    • Over the past few decades, fashion has become a pillar of popular culture thanks to  the rise of social media and our image-first culture, said Friedman. “We now communicate globally more through imagery than we communicate through words or papers or speeches or books,” she says. “We are constantly making judgments based on the images we see … and those images are intrinsically connected to fashion … It's a language that we all think we speak and therefore we can use as communication.”


    • The Spanish luxury house Loewe, owned by LVMH, was one of the evening’s sponsors, which for Friedman is an embodiment of the culture-shaping ethos held by LVMH chairman Bernard Arnault. “He doesn't want his brands to be just fashion brands. He wants them to be culture brands. It's going past luxury into shaping culture at large.”


    • This year’s Met Gala raised an impressive $26 million, but Friedman says this raises questions about the event’s future. “Has this party reached its apogee? Is it possible to make more than $26 million in one night?”


    • Reflecting on her 20 plus years in the fashion industry, Friedman’s advice to aspiring critics is to think beyond the industry. “Learn as much as you can about things that aren’t fashion. Broaden your viewpoint and think about the world in as wide and exciting and curious a way as possible.”  



    Additional resources:


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    10 May 2024, 4:33 pm
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