Discussion: The State of Kering

[Melancholybaby]

Carine Roitfeld also hated carrying bags

Anna Wintour isn't a fan either.

 

[Kanzai]

I get people need bags to carry things and, more importantly, for social status. What I don't get is the obsession with them, when the success of a fashion collection is assessed not on the number of clothes sold or the influence it has, but on the number of bags it helps to sell.

Because RTW or HF clothes in general are incredibly expensive, and as many people on tFS acknowledge, it’s really geared toward the elitist crowd and those who are genuinely invested in fashion. This is a fashion forum, so of course most of us are going to feel frustrated when a brand with deep roots in fashion becomes more recognized for its bags rather than their designers, cuts, silhouettes, etc.

But a brand name like YSL has become a cultural symbol, a marker of status. 95% of the people who know or mention the brand buy their clothes from Shein, Temu, or maybe Zara and Uniqlo at most. There’s no reason to expect the general public to suddenly change their perspective on fashion just because you happen to understand fashion history or season collections better than they do.

Sure, someone might seem more refined if they’re spending on runway pieces, or at least from pre-fall or resort collections, but ironically, a lot of people now think Chanel tweed jackets or Gucci tracksuits are "cheap" just because they’ve become so widely worn. But...those are still RTW, aren't they? Unfortunately, the so-called “fashion lovers” like us are always quick to adopt a “pick me” stance like, “I’m not like other girls”, those clothes are still trash and giving "entry level rtw".

 

[Lola701]

While I don’t necessarily cares that much for bags, I do have a 2:55, a classic bag and for my generation, at least, those were aspirational. It was almost a rite de passage. You felt like you made it? You buy your first Chanel bag. Weirdly, I waited a long time to get those bags. I bought trendy Chanel bags before those ones. And even though I worked in fashion, I never felt like I had that king of ownership over luxury. And there’s also a question of style. A term that is today also forgot.

I feel like today, the conversation is unfortunately too much about luxury and people feels like luxury is owe to them, that they deserve luxury. You can’t afford it, move on!

But tbh, yes prostitutes, escorts and others ladies of the night carry Chanel, some get married (or do their job extremely well) and get a Birkin but those things are mass taste after all.
Of course when I was younger, I used to be mad about seeing escorts with the same items as me. My snob self used to think I was better because I worked in fashion, wore Balenciaga and Givenchy that I paid for (at sample sales of courses lol) whereas they wore BCBG Max Azria and had their lifestyle supported by disgusting old creeps. But in reality? Does that matter?
The rich women who attended Couture shows have their lifestyle supported by sketchy rich men too. But then, the most important thing is that we all get to enjoy our bags lol.

Carine Roitfeld also hated carrying bags

But she does carry a bag…So do Anna. Lol.
I mean it was easier to live without a bag during the VP days or when it’s FW but you’ll likely see her with one these days.

 

[Creative]

slightly off topic but also thinking about recent fashion school graduates who from what i know, cant find ANY work in fashion.

This has always been the case tho…

On another note, high fashion is not dead. People are still buying. But of course some brands suffer fatigue because of wrong decisions.

There are some brands growing double digit… the number of rich people keep growing and there will always be a place for “beautiful” things.

Maybe comping positive VS LY is not the definite signal of a business going in the right direction and being healthy. Could be the opposite sometimes…

Every brand is making more money than 6 years ago. Most of the brands are performing well in America and Europe… China is more complicated, but the numbers of Gucci are still higher than those they had with Frida in 2016 or with Tom Ford in 200 (inflation aside). I don’t know.

 

[yslforever]

View attachment 1375386

She decided to carry a Kelly after reading the bag debate in TFS.

See, not all women with Ks are malignant gold-diggers, but all malignant gold-diggers want the K.

 

[NoInvite]

On a creative level I know we all do adore Anthony and his seasonal fashion message but if the majority of the sales of your brand comes from accessories why not make some effort? Maybe its because I grew up during the years of Marc Jacobs at Vuitton and remember seeing that bags can carry a creative message and have a seasonal appeal. Not some afterthought put on Instagram. If they don't care why should anyone buys them?

An example of a modern example I think would be Miumiu where you can have bags in the show and it is a look and you dream about the look.

YSL could have given us a c*nty briefcase in croc look or a nice clutch in jewel-tone brocade for the campaign but instead we got this saggy sadness tote. It's even sadder when you go to the store and see the RTW next to the bags. It makes no sense. They deserve the -9%.

 

[yslforever]

On a creative level I know we all do adore Anthony and his seasonal fashion message but if the majority of the sales of your brand comes from accessories why not make some effort? Maybe its because I grew up during the years of Marc Jacobs at Vuitton and remember seeing that bags can carry a creative message and have a seasonal appeal. Not some afterthought put on Instagram. If they don't care why should anyone buys them?

An example of a modern example I think would be Miumiu where you can have bags in the show and it is a look and you dream about the look.

YSL could have given us a c*nty briefcase in croc look or a nice clutch in jewel-tone brocade for the campaign but instead we got this saggy sadness tote. It's even sadder when you go to the store and see the RTW next to the bags. It makes no sense. They deserve the -9%.

Indeed, evening brocard/lace clutches as a seasonal item could have been fire, and even bought and worn separately from the jackets; put I won't put the blame on Anthony, that's the CMO work to suggest such products.

 

[Deleted member 116957]

Again, the topic of bags is so circular… oh, now they’re status symbols which makes them bad. And is somehow uncouth for an industry that… makes its income from the symbols and luxuries they themselves advertise!! Guess what? Clothes are status symbols, too! Watches are status symbols and no one sh*ts on them, personally I don’t “get” watches, but I can understand that they have value amongst some people. I’m not going to be arrogant and say, well I use the clock on my iPhone, so why do people need $50,000 watches?!? I’m surprised people haven’t also said that bags are bad because fat people and other people who can’t fit into RTW buy them, too. Accessories obviously reach more clients than clothes. I really don’t think most of the luxury fashion industry cares at all about clothes. It’s a nice story, but do the facts add up? Uh… no.

 

[Melancholybaby]

Semi off-topic but they have made seasonal bags to match the brocade jackets lol


ysl.com

 

[Deleted member 116957]

More Cassandre bags for the plebs!! ✌️

 

[Melancholybaby]

More Cassandre bags for the plebs!! ✌️

For the poors that can’t afford the 6k jackets- something for everyone!

 

[Creative]

I don’t know but I find those quite chic 💀

 

[NoInvite]

Lol, I guess I had to scroll really down to see them on the site.
These would have been better in the campaign than the condom bag.

 

[Deleted member 164735]

Semi off-topic but they have made seasonal bags to match the brocade jackets lol


ysl.com

..... am i a total outcast now for liking these?

i'll show myself out you guys

 

[Salvatore]

Okay but I love these too 🫢

 

[NoInvite]

Anthony if you are reading this. "You are doing great sweetie"
We love the 3 seasonal bags that weren't on the runway!

 

[PDFSD]

SUN DeLuxe | Susanna Nicoletti | Substack

My critical eye on Fashion and Luxury. Click to read SUN DeLuxe, by Susanna Nicoletti, a Substack publication.

susannanicoletti.substack.com

1. Unflappable Kering and the Silence of the Lambs

“A smooth sea never made for a skilled sailor.” - Anonymous

“As we had anticipated, Kering faced a difficult start to the year. In this environment, we are fully focused on executing on our action plans to reach our strategic and financial objectives and strengthen the positioning of our Houses on all our markets. We are increasing our vigilance to weather the macroeconomic headwinds our industry faces, and I am convinced that we will come out stronger from the present situation.”
François-Henri Pinault, Chairman and CEO

This is an epic statement. A very strong and optimistic one.

• Kering is openly facing difficult times since at least two years.
• There is no clarity nor precision about what are the exact plans to reach the goals
• The macroeconomic environment has to be accurately included in the strategic plans because strategists must do that as a routine job.
• There is no certainty that any entity of the industry will come out stronger, even less Kering that has very weak fundamentals since too much time

So what’s next? In a standard situation:

• The top executives should be scrutinized and eventually fired for not being able to recover the group from a systemic bust
• Transparency should be applied and the precise plans for recovery shared officially
• The best sailors, the more entitled should be driving the boat

The group seems to be unflappable instead, and making the same statements since too long to be able to reassure enough markets and customers and employees.

Talking the talk is not enough and even the most affectionate investment bankers now are very doubtful of the results of the coming year.

Is Mayhoola going to take over Kering? Everybody is asking me.

 

[yslforever]

Kering's main issue is the CEO.

 

[PDFSD]

Kering's main issue is the CEO.

which of the many incompetent ones ?

 

[yslforever]

which of the many incompetent ones ?

hum, there is only one CEO.