LVMH Acquires Minority Stake in Our Legacy BoF
John Donahoe, chief executive since 2020, stepped down in September after calls for his ousting grew louder. Nike then tapped Elliott Hill, who retired from the company in 2020 after a 32-year career starting as an intern, to lead the brand. Regardless, a second Trump term will have sweeping implications for the fashion industry.
Benefitting from this interest is not just conglomerate-backed luxury brands, but a crop of indies-turned-powerhouse labels, such as Byredo, Le Labo and D.S. & Durga, which all started as small independent makers with esoteric scents and guerrilla marketing tactics. Those brands, minted in the mid-aughts, have created a clear playbook for success and a template for a frothy exit, increasing investor interest. The European Union has unveiled plans to significantly water down landmark sustainability rules that would require large fashion brands to report more details about their environmental footprint and take on more responsibility for abuses in their supply chains.
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Shoppers are not eager to increase their fashion budgets, even as economic prospects and consumer sentiment improve in some regions. Over 80 percent of shoppers plan to spend the same or less on clothing, footwear and accessories in 2025. Over 40 percent of shoppers in the US, UK and Germany are spending less on clothing, footwear and accessories than they did a year ago. In the BoF-McKinsey State of Fashion 2025 Executive Survey, consumer confidence and appetite to spend was ranked by fashion executives as the top risk to growth. Wholesale has been an avenue for Fashionphile to enter international markets.
Zara, Kiehl’s, Jacquemus: Why Skiing Is Bigger Than Ever for Brands
For the BoF-McKinsey State of Fashion 2025, CEO Patrice Louvet spoke about how pricing and merchandising strategies have set up the company for success in uncertain times. As “value” can take on different meanings, brands will need to identify which value-seeking behaviours drive their customers and tailor their strategies accordingly. Shopper surveys, social listening and analysis of customer relationship management data can all be effective ways to identify what shoppers care about in terms of value. Some brands have recognised this growth opportunity and are developing their own resale capabilities. For example, Sandro’s resale programme drives customer loyalty by giving sellers either 70 percent of the resale value if they choose to be paid directly, or 100 percent of the resale value if they choose Sandro credit. Meanwhile, Shein launched its own online peer-to-peer resale platform, Shein Exchange, in Europe in summer 2024 after seeing success in the US.
Across the continent, a handful of nascent brands are attempting to kickstart the continent’s own niche perfume moment. Uniting all the brands that strike a chord with fragrance fanatics, aside from quality, is having strong roots in an unexpected community or provenance, a cohesive brand universe and narrative, and a sense of fun, playfulness and even whimsy. BOF are working to ensure our customers have a choice to procure and use furniture to support circular furniture initiatives.
Revive expects to generate $100 million in revenue by 2029, said Allison Lee, the company’s chief executive. Attract value-minded shoppers through alternative channels and differentiated products, while protecting core brand equity. Leverage non-traditional channels to meet consumers where they are — and where they will be receptive.
While the company all but Bof ruled out near-term acquisitions, it acknowledged the need to deploy capital to fire up excitement. Impairment charges from the poorer performance of brands including Tom Ford and Too Faced totalled $861 million, indicating slippage in some of the company’s previously hot properties. Still, de La Faverie and Shrivastava said the company would continue to spend on acquiring new customers, even as it looks to cut back in other areas. US President Donald Trump declared there is no chance of preventing the 25 percent tariffs on Mexico and Canada from taking effect on Tuesday.
