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Business of Fashion
7 days ago
- Entertainment
- Business of Fashion
Has Fashion Given Up on Emerging Designers?
Dear BoF Community, ROME and MILAN — This week in Rome, I had the honour of sitting down with Giancarlo Giammetti for an exclusive interview on The BoF Podcast. For those not in the know, Mr. Giammetti first met the designer Valentino Garavani by chance on July 31, 1960, setting in motion one of fashion's most enduring — and most successful — creative partnerships. Together, they built Valentino into a global fashion powerhouse, celebrated for its elegance, craftsmanship and cultural influence. This was a love story and a business partnership, beautifully (and honestly) rendered in Matt Tyrnauer's 2008 documentary, 'Valentino: The Last Emperor.' Mr. Giammetti was refreshingly candid in our conversation, laying bare his thoughts on the state of fashion today, the musical chairs of constant designer shuffles, the egos of designers who want to be bigger than the brands they work for, and most of all, the lack of support for emerging designers. 'How many new brands have been created? I don't know,' he said. 'The last one I remember is [Giambattista] Valli or maybe Jacquemus. Why? I don't think that the big conglomerates want to put money in somebody new. They want to [focus] on their own portfolio, the names that they [already] have. But to invest in one talent? I haven't seen anything.' There was a similar refrain when I chatted with fellow jury members at the Camera Moda Fashion Trust Grant in Milan later in the week. I was busy typing away on my computer at the Fondazione Sozzani, doing a final review of BoF's reporting on Maria Grazia Chiuri's confirmed exit from Dior, when Marco Bizzarri arrived for the judging. He popped over to say hello and we chatted about the dire and uncertain state of the industry. Completely independently of my conversation with Mr Giammetti, he mentioned how concerned he is that the big groups don't seem to be interested in backing young talents. I reminded him that Kering's investments in Christopher Kane and Altuzarra — as well as LVMH's investment in Nicholas Kirkwood — were largely seen as failures. Not because these aren't talented designers with real potential, but because placing small, emerging businesses within the structure of gargantuan luxury groups means they received very little management attention. But I agreed with his point that if we don't support and cultivate emerging talents — even if the groups lose some money on these investments — the creative future of fashion is doomed. LVMH's investment in Jonathan Anderson's label, which coincided with his appointment as creative director of Loewe in 2013, tells a slightly different story. While J.W. Anderson is still a small-ish, loss-making business which did around £30 million in revenues in 2023, according to filings at the UK's Companies House, Loewe is now nearing €2 billion in sales. The business has grown almost tenfold since Anderson took over and everyone is now awaiting the confirmation that he will take over as artistic director of Dior. Not a bad return on that investment. Later, over a plate of pasta after the judging had concluded, Sara Sozzani Maino, who has been spearheading the Fashion Trust for the last few years, threw her hands in the air Italian-style, expressing to me how hard it has been to find financial support from the Italian fashion industry for the trust, which aims to support the new generation of Made in Italy designers. Remo Ruffini and Moncler have been especially supportive, she said, as well as Max Mara, Valentino, Gucci and Pomellato who have supported the Trust for some time. But the vast majority of brands declined to help, offering up a range of reasons from budgets being closed to focusing on their own internal support initiatives. She was asking for just €50,000 per brand. In the absence of this kind of financial support, some of the finalists for the Fashion Trust Grant explained to me that they have to do consulting work for other brands to survive. But this means they have less time to focus on their own businesses and are designing to achieve someone else's ideas, even if in their heart all they want to do is focus on developing their own creative vision. As any seasoned entrepreneur will tell you, it's much harder to succeed at building your own business if it's just a part-time job. At the gala dinner in the evening, my seatmate Carla Sozzani said she is worried that even if the young designers can survive the turbulent market environment, they have nowhere to sell their clothes. The multi-brand retail market in Italy is in turmoil, just as it is in the US and many parts of the world. (Emerging designers in Italy complained to me of the same problems of not getting paid by Saks, Neiman Marcus and Bergdorf Goodman, among others.) What they also need, Sozzani said, is a partner like Mr. Giammetti, who provided a lifeline of support for Mr. Valentino through all of the rigours of building a business from scratch — including a bankruptcy, buying the business back from their first investor and then navigating several waves of different investors who came afterwards, eventually leading Mr. Valentino and Mr. Giammetti to leave the business after the control investors wanted was all too much. Just after our main courses, the three winners selected by the jury — Lessico Familiare, Francesco Murano and Institution — were awarded their €50,000 grants. Then, Maino stepped to the microphone to announce there was a surprise. Winners and Judges at the gala dinner for Camera Moda Fashion Trust. (Courtesy) Marco Bizzarri came on stage to express his passion for Moja Rova, another emerging brand that many of the judges also liked. It was hard for us to choose from so many deserving applicants, so Bizzarri put his money where his mouth is and fronted the €50,000 personally to offer a fourth prize. This is the kind of support we need to see from more of the big players in our industry. As I said to Mr Giammetti at the end of our interview when he turned the tables to ask my opinion, 'I think about the cost that this is going to have on our industry in the future. If we don't nurture smaller creative talents and businesses today, what will fashion look like 10, 20 years from now?' Imran Amed, Founder and Editor in Chief Here are my other top picks from our analysis on fashion, luxury and beauty: 1. Why Blockbuster Deals Are Back in Fashion. In an era of tariffs and turmoil, fashion's boldest players are placing billion-dollar bets — and finding bargains in a high-risk, high-reward wave of M&A. In an era of tariffs and turmoil, fashion's boldest players are placing billion-dollar bets — and finding bargains in a high-risk, high-reward wave of M&A. (Courtesy) 2. Hello, Goodbye: Maria Grazia Chiuri's Next Chapter. If there was 'beautiful confusion' in the mix of cruise and couture the powerhouse designer paraded in Rome on Tuesday night, the standing ovation at the end of the show left little doubt she was saying goodbye to Dior after a transformational near-decade tenure and hello to her next act, resurrecting the storied Teatro della Cometa. Dior designer Maria Grazia Chiuri staged an elaborate runway spectacle at the Villa Albani Torlonia in her hometown of Rome on Tuesday night. (Getty Images) 3. Can Jewellery Continue to Outshine Fashion? As leather goods lose their cool amid rising prices and quality concerns, fine jewellery is emerging as luxury's shining star. Jewellery giants like Cartier continue to steer clear of the post-pandemic price hikes implemented by many fashion brands. (Cartier) 4. Why Food Is Everywhere in Fashion Advertising. As foodie culture peaks and the cost of living rises, food is popping up more than ever in fashion imagery. Fashion's latest marketing obsession is food. (BoF Collage) 5. David Bailey, Immortal. A new exhibition aims to prove the iconic photographer's claim to everlasting impact rests on more than his portraits from Sixties London, writes Tim Blanks. David Bailey and Madge. (© David Bailey) This Weekend on The BoF Podcast The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. In this exclusive interview, Mr. Giammetti reflects on the founding days of Valentino, the importance of protecting creativity in a fashion market that prioritises commercialisation, and why it is critical for the industry to support future generations of designers who are overlooked by a fashion system under pressure. 'This continuous change of people, using people to cover jobs … it makes a big confusion. None of them really becomes a part of the legacy of the company. That's what is a big problem today,' says Giammetti. To receive this email in your inbox each Saturday, sign up to The Daily Digest newsletter for agenda-setting intelligence, analysis and advice that you won't find anywhere else.
Business of Fashion
16-05-2025
- Business
- Business of Fashion
Redefining 'Made in Africa'
The author has shared a Podcast. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Africa is experiencing an exciting shift, creatively and commercially, with growing global attention on its rapidly expanding middle-class population. Yet, local fashion entrepreneurs must navigate unique operational challenges and misconceptions about the quality and reputation of 'Made in Africa.' Pink Mango's Maryse Mbonyumutwa entered apparel manufacturing in Rwanda to address both economic and social sustainability. '[Africa] is sustainable by nature, as we've not fully industrialised yet,' he says. Laduma Ngxokolo, founder of South African luxury knitwear brand MaXhosa Africa, drew inspiration from his culture's traditional designs: 'How do we take local traditional aesthetics and modernise them?' he asked. To celebrate African creativity, Reni Folawiyo founded the concept store Alara in Nigeria. 'I started Alara from a very emotional place to elevate African creators, both on the continent and the diaspora,' Folawiyo says. 'The idea of elevating but also empowering remains in everything we do.' On this episode of The BoF Podcast, an illuminating conversation unfolds on stage at BoF CROSSROADS 2025, where Mbonyumutwa, Ngxokolo and Folawiyo, alongside Sudanese-British writer Rozan Ahmed, discussed Africa's unique contributions to fashion, the opportunities in sustainable manufacturing, and how they are redefining what it means to produce, create and sell in Africa. Key Insights: Africa's potential lies in sustainable manufacturing and social responsibility. Mbonyumutwa explains, 'Africa is here to offer social sustainability ... to make sure that now when we talk about environmental sustainability and social sustainability they are aligned.' Local retail can powerfully celebrate and elevate global African creativity. Folawiyo's vision for Alara was clear. 'I started Alara in a very emotional place. I wanted to celebrate African creators, both on the continent and in the diaspora. I wanted to elevate their work, because I hadn't seen it done anywhere else,' she says. 'It was a self-empowerment, self-determination moment and I wanted it to be celebratory.' 'Made in Africa' must represent prestige, not affordability. Ngxokolo says, 'It's not cheap, yet there's a perception that anything that is made in Africa should be reasonably priced or cheap. We put in our heart and souls into our work and present it to the world so that it sits next to their level of brands.' Additional Resources:
Business of Fashion
02-05-2025
- Business
- Business of Fashion
Why Craft is the Soul of True Luxury
The author has shared a Podcast. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Listen to and follow the BoF Podcast:Apple Podcasts | Spotify | Overcast Background: It's been a complicated year for luxury. The sector was already grappling with slowing growth but now American tariffs have disrupted global supply chains, driven prices upwards and dented consumer confidence. But there's another, deeper long-term challenge that the industry needs to contend with: the perceived trivialisation of high-end fashion. Some brands have been able to overcome this value erosion by placing craftsmanship at their core, therefore connecting with customers in a deeper way. Mexican designer Carla Fernández has long been at the forefront of ethical, craft-based fashion. Her eponymous brand collaborates closely with Indigenous artisans across Mexico, promoting traditional craftsmanship and advocating for policies like collective intellectual property rights. 'The future is handmade because the objects that are handmade get inspiration from your community, from your environment,' says Fernández. 'It goes through your eyes, then it goes to your heart and comes out from your hands. And those are objects that have a soul.' After experiencing first-hand how the fashion industry overlooks contributions from the Global South, Tunisian entrepreneur Kenza Fourati co-founded OSAY The Label, a brand focused on elevating artisan footwear crafted in Tunisia and using sustainable materials and traditional techniques. This week on The BoF Podcast, in a riveting conversation from BoF CROSSROADS 2025, Carla and Kenza Fourati discuss the power of craft-based fashion, how to collaborate ethically with artisans and indigenous communities while redefining what true luxury means. The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Key Insights: Fashion is an essential vehicle for storytelling. 'Textile and text are very connected. If you walk in someone else's shoes, you connect with that person, and you see the unseen and the irrelevant,' explains Fourati. Through this perspective, fashion becomes a powerful medium to foster understanding and build connections between diverse cultures and experiences. Fernández shares that growing up in Mexico, she realised early on that the fashion industry often ignored the contributions indigenous people make to craftsmanship. 'At the age of 12, I realised that the haute couture of my country, claimed not to be fashion, was made by artisans in the mountains, deserts and jungles,' she says. The disconnect between where fashion is designed and where it is made reflects broader inequities in the system. Fernández says, 'In the global north, they keep focusing on the individual as the big name. In Indigenous communities, creation comes from all of us. Collaboration is the most important part.' True luxury is ethical, inclusive and deeply connected to origins and values. Fernández concludes that authenticity is inseparable from ethics. 'In true luxury, there is no oppression. To be original, you have to go back to the origins.' Fourati adds, 'True luxury is being able to wear your values and wear your story.' Additional Resources:
Business of Fashion
25-04-2025
- Business
- Business of Fashion
Anas Bukhash on Harnessing the Dubai's Potential as a Global Crossroads
The author has shared a Podcast. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Subscribe to the BoF Podcast here. Background: Over the last few decades, Dubai has rapidly transformed from a humble trading port into a global hub for business, tourism, and innovation. With favourable economic policies, strategic location, and an ambitious young workforce, Dubai has become a vibrant destination at the intersection of Europe, Asia, and Africa. Entrepreneur Anas Bukhash has experienced and capitalised on this transformation firsthand. As the host of one of the Middle East's most-watched talk shows and founder of influencer marketing agency Bukhash Brothers, Anas embodies the entrepreneurial spirit of Dubai. 'It's a 50-something-year-old country. It's younger than our fathers and our mothers,' says Bukhash. 'So imagine if you come up with an idea and you just moved to Dubai – you could be the first one and then you have that edge of being the pioneer in that field.' This week on The BoF Podcast, Bukhash joins BoF Founder and CEO Imran Amed at BoF CROSSROADS in Dubai to discuss how the city's openness and youthfulness have shaped a thriving, innovation-driven culture. The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Key Insights: Dubai's youthfulness provides a significant advantage for entrepreneurs. 'It's a 50-something-year-old country,' says Bukhash. 'It's younger than our fathers and our mothers. So imagine if you come up with an idea and you just moved to Dubai – you could be the first one.' Dubai offers entrepreneurs the unique possibility of becoming a pioneer. 'If you're fast and you actually have a dream, I think Dubai is one of the few places in the world where you could be the first,' says Bukhash. 'You have that edge of being the pioneer in that field. If you do that in London or you do it in New York, you're probably number 500.' The rise of Dubai as a content capital is both a blessing and a curse. 'Everybody has a smartphone, everybody can claim they are a life coach, or a media personality,' says Bukhash. 'But the beauty is the direct journalism and reviews from creators with integrity.' Still, Bukhash stresses that social media and content creation should be approached with balance. 'Let's not also get too hooked on it because then we don't live and experience things properly. In order to get better content as well, you need to travel and see and interview people and have dinners and just feel creative,' he says. Additional Resources: BoF CROSSROADS 2025: Unpacking Fashion's Future Markets
