luxury brand impressions, 2016

Ever since sitting through Boris Durisin’s Marketing Management course, I have been (even more) interested by the concept of brand. Specifically, the revelation that every interaction with a brand informs the consumer’s perception of its positioning and value. Case: Tiffany & Co. in the U.S. is known for diamonds, engagement rings, and secondarily, wedding gifts, sterling jewelry, and accessories.

I have learned that in Italy, Tiffany is working to establish itself in the serious jewel and timepiece arenas, because Italians and Europeans know it only for its “return to Tiffany & Co.” sterling charm bracelets and related novelty jewelry. To compete with Rolex and Bvlgari, the company has to work to establish its fine handiwork credentials.

However, the blue box is recognized worldwide. Kudos to the Tiffany legal team for trademarking it.

Because it fascinates me, as a lover of beautiful things and bulletproof branding, I wanted to review a list of popular and/or top-of-mind labels: what they’re doing, well or not so well, relevant changes afoot, and recent interactions I’ve had, all of which inform my luxury brand impressions.

• They’re separated by nationality, with [brackets] noting the medium of my most recent interaction
• The name of the Creative Director is the second-to-last point under each brand
• Family-owned firms are denoted with “∴”
• Group ownership is noted in italics
• Positive value brands (in raw materials, construction, and resale) are noted with “$”
• Negative value brands (overpriced relative to the same categories above) are noted with “$“
• Last, I pick a single phrase or word that is most closely tied to the brand name, in my opinion

Italian

Ermenegildo Zegna [online] ∴ $$$

• A powerhouse of fabrics, contemporary tailoring, and quiet elegance
• Produces for many other brands, including Tom Ford and Armani
• Z Zegna line skews younger, sportier, and makes an interesting alternative to trendier brands but with equally modish colors and lines
• CD: Stefano Pilati (IT), formerly of Yves Saint Laurent (before rebrand); departing as of February 2016
• Zegna is quintessential Italy

Bottega Veneta [purchase] $$$

• Famous for woven intrecciato leather pattern, which is both beautiful and laborious to create
• Nearly nothing ‘wrong’ with BV’s products; epitome of subtle modernism
• Attention to detail is worth every penny
• CD: Tomas Maier (GER), also of an eponymous line (Tomas Maier)
• Kering
• Bottega Veneta practices beautiful restraint

Jil Sander [purchase] $$

• German-born house passed around between Prada Group and now Japanese holding company
• Lots of dark color-blocking, mixing textures, and thick leather bits (backpacks, pouches)
• Originator of minimal, gallery-owner aesthetic
• CD: Rodolfo Paglialunga (IT), from Vionnet and before that, Prada
• Jil Sander is upscale simplicity

Valentino [online] $$

• Revived couture house now selling lots and lots of ready-to-wear, handbags, shoes, and accessories to both men and women
• Owned by Qatari investment firm
• Strange, non-sequitur motifs rule the brand: camouflage, pyramid studs…butterflies…
• CDs: Maria Grazia Chiuri and Pier Paolo Piccioli (IT)
• Perennial resort wear at Valentino

Etro [purchase] ∴ $$

• Classic Milanese brand consistently revered for its paisley prints, liberal use of color, and rich textures (like velvet)
• Old school in a contemporary sense, as it hasn’t been 21st-centurified yet but isn’t at all conservative or boring
• Butler-like assistance at Montenapoleone flagship
• CDs: Kean and Veronica Etro (IT)
• Historic flamboyance prevails at Etro

Gucci [purchase] $$$

• A label in flux, with new direction from Alessandro Michele, who is bringing frivolity and gender ambiguity to the mainstream
• Boutiques undergoing a refresh, from dark wood and gold to bare concrete and pale gray walls
• CD: Alessandro Michele (IT)
• Kering
• Italy’s answer to Louis Vuitton

Prada [purchase] ∴ $$$

• A humble luggage company from Milan turned accessories and ready-to-wear global juggernaut
• Recent missteps with Asia expansion; reliance on China for revenue
• Prices have crept skyward while some shoe and RTW production outsourced to Vietnam, Romania, Bulgaria, and Tunisia
• Still good at making nylon look sexy
• CD: Miuccia Prada (IT)
• Prada Group
• Ugly chic is Miuccia’s favorite pairing

Dsquared2 [purchase] ∴ $$

• Label of twin Canadian brothers Dan and Dean Caten (also the Creative Directors – CAD)
• What I call “Eurotrash Abercrombie”—playful and youthful but not refined
• Snobbish, pouty customer service at Milan boutiques (Via Verri & Porta Nuova)
• Occasional outlet steal to be found, but never worth full price
• Hyper sexual and exclusionary

Versace [in-store] $$

• Like Valentino, recently injected with fresh outside capital
• Revived diffusion line Versus, and ongoing lines Versace Collection, Versace Jeans
• Over-reliance on Grecian motifs, Medusa head, and historical blockbusters rather than innovative ones
• Questionable quality across the ranges
• CD: Donatella Versace (IT)
• Bringing 80s extravagance back

Armani [online] ∴ $$$

• A house of brands that is ripe for refreshment
• Too many brand extensions…Armani Privé, Giorgio Armani (original line, actually still quite elegant), Emporio Armani, Armani Collezioni, Armani Exchange, Armani Jeans, EA7 (sportswear)
• Reliance on golden Armani name to extend to hotels, cafes, home decor, confections, floral
• Armani/Silos museum *is* quite impressive
• CD: Giorgio Armani (IT)
• Decentralized focus on a branded house

Tod’s [in-store] $

• One of the few globally-known Italian heritage brands that sticks to its core (shoes), with cautious entry into other products like handbags, ready-to-wear, etc.
• All still made in Italy, for a price point that is very reasonable given the product quality
• Excellent service in-store
• Seasonal consistency
• CD: Alessandra Facchinetti (IT)
• Tod’s Group
• Evolution not revolution

Fendi [online] $$

• Known famously for handbag hits like the Baguette and Peek-a-boo as well as its furs
• Riding the wave of accessories profitability, with (like Valentino) the odd theme of mohawked ‘monsters’ and fur trim across products
• CD: Karl Lagerfeld (GER)
• LVMH
• Painfully trendy

Dolce & Gabbana [in-store] ∴ $$

• Ready-to-wear driven brand with healthy beauty, shoes, handbags, bambino, and accessories lines
• Emphasis on Sicilian sex appeal; possibly the most quintessentially Italian export brand for young consumers
• D&G diffusion line collapsed into main line
• Italian couture lines for both women (Alta Moda) and men (Alta Sartoria)
• CDs: Domenico Dolce and Stefano Gabbana (IT)
• An empire of youthful Italian elegance

French

Chanel [in-store] ∴ $$$ (not menswear but worth noting)

• Possibly the most recognizable fashion logo and brand in the world, copied endlessly
• Precisely controlled, through branded boutiques only or hard vendors within department stores
• Product detail is meticulous, prices match labor intensity
• Quality is highly reliable over time (highly resealable)
• CD: Karl Lagerfeld (GER)
• Opulent, feminine, and empowered

Lanvin [in-store] $$

• Production migration to Spain, Portugal, Romania
• Quality varies by piece
• Forgettable shoes, accessories, and some very nice ready-to-wear
• CD: Alber Elbaz, recently departed
• Looking for an identity at Lanvin

Balenciaga [in-store] $$

• Much production moved out of Italy to Portugal, low-cost EU countries, for RTW anyway
• Play with synthetic materials, unconventional silhouettes, and dark themes
• Extensive wholesaling to multi-brand boutiques
• CD: Alexander Wang recently departed, replaced by Demna Gvasalia (DRG)
• Kering
• Romantic militarism

Louis Vuitton [purchase] $$

• Global accessories powerhouse reliant on high-margin logo-laden coated canvas bags
• Highly profitable, popular, and ubiquitous
• Precise balance between accessibility, desirability and high entry price, controlled distribution
• CD: Nicolas Ghesquière (FR)
• LVMH
• Dominance through pervasiveness

Saint Laurent [purchase] $$

• Rebranded minus “Yves” after Hedi Slimane took over as Creative Director, formerly of Dior Homme (see this BoF article about the fickle nomenclature of the brand)
• Cash cow of Kering Group, eclipsing profitability of other brands in the portfolio
• Production diversification to Portugal, Spain
• Underwhelming quality; nothing special to justify price
• Major expansion of directly-controlled retail footprint, with openings in Orlando, Monterrey (Mexico), Kazakhstan, etc.
• Parisian rock n’ roll

Berluti [online] $$$

• Heritage bootmaker now focused on ultra-luxe menswear
• Common motif of scritto writing motif etched on leather goods, shoes
• Focus on leather, leather, leather, and very fresh editorial content
• CD: Alessandro Sartori (IT); departed as of February 2016
• LVMH
• Classical flair

Moncler [in-store] $$

• Historic French-Italian ski wear brand, resurrected from the trash heap in recent years
• Famous for puffy jackets (piumini)
• Using its success to extend brand to other categories like shoes, accessories, bags
• Has a number of competitors in winter wear arena (in Italy anyway) like Herno, Duvetica, Aspesi, Stone Island…
• CD: Remo Ruffini (IT)
• Ubiquity in cold climates; the feather down bubble is bound to bust

Cartier [in-store] $$$

• Increasingly trendy but the service excellence and product innovation still excels
• Via Montenapoleone store in Milan is a four-level mansion of fine jewelry, watches, fashion jewelry, and handbags/accessories for both men and women
• Richemont
• Like Louis Vuitton, an archetypal symbol of French luxury

Hermès [in-store] ∴ $$$

• Another iconic French house, known for the Birkin bag and equestrian saddlery (and the color orange)
• Now offers all manner of lifestyle products, clothing, accessories, fine jewels and watches, and even furniture
• Price points some of the highest in the biz (€85,000 for an alligator bomber jacket and some €72,000 for a pavé diamond belt buckle)
• CD: Veronique Nichanian (FR)
• Epitome of expense

American

Tom Ford [online] $$$

• Relatively young brand launched by the former CD of Gucci and Yves Saint Laurent
• Emphasis on classic, athletic, polished masculinity, a la James Bond
• Prices on par with Berluti, Hermès
• Kering
• An American perspective on British-French-Italian high dress

Tiffany & Co. [online] $$

• Historical and global American jeweler known for characteristic blue and white scheme
• 1990s and 2000s saw surge in growth from mid-price sterling accessories
• 2010s hangover from previous popularity; now working to secure prominence in categories like watch-making
• Always my go-to for wedding gifts
• Design Director: Francesca Amfitheatrof
• Conservative upscale American jewelry for the masses

British

Burberry [in-store] $$

• Tartan and trench coat company back from the brink of extreme brand extension, licensing, and counterfeiting
• Still rooted in outerwear and plaid motifs
• Much production happens outside the EU and UK; quality is undistinguished
• Recent troubles with earnings and profitability; decision to fold diffusion lines (Prorsum, London, Brit, Sport) into single main “Burberry” line
• CD: Christopher Bailey (UK)
• Trying to answer the question: can trench coats drive sales across all other categories?

Belstaff [online] ∴ $$

• Like Burberry, a brand built around outerwear: in this case, biker jackets
• Renewal and caution entry into other categories
• Quality feels good, manufacturing is mostly within EU
• Key materials are suede, waxed cotton, calf leather, and knit cotton or wool
• CD: ?
• Handsome biker chic with an all-weather attitude

Paul Smith [in-store] ∴ $$

• Mr. Smith has designed to his own rhythm for many years, with perennial British cheekiness
• Recurring themes include multicolor stripes, retro prints, and flashy jacket linings
• Several diffusion lines…Paul Smith mainline, PS Paul Smith, Paul Smith Jeans…
• Production is dispersed, from the UK, to Italy, to Portugal, and China
• Via Manzoni store in Milano is Southwestern US adobe style, painted dusty pink inside
• CD: Paul Smith
• A full experience in a unique style

Other

Tomas Maier (Italian-American-German) [purchase] $$

• Bottega Veneta’s creative director has his own line, quietly launched in the 2000s and injected slowly with cash from Kering
• Similar materials and themes between TM and BV, like chains, lots of suede and leather, and this past FW15 season, crepe soled shoes for men
• Based in the U.S., with stores in resort spots like Palm Beach and Montauk
• Production in Italy
• Stealth wealth from a nearly unknown name

Suitsupply (Dutch) [purchase] $

• Finally, a suiting disruptor!
• Fabrics from Italy and Ireland, production in Asia (China primarily) and some Italy for accessories
• Modern cuts, especially for us slim-petite-athletic guys
• Stores across the globe; in Milano and shortly, Tampa
• Very reasonable prices (€300-450) for an off-the-rack tailored suit
• For economical stylistas, before affording Zegna

MCM (Korean) [in-store] ∴ $$

• Founded in 1976 (Michael Cromer München) in Munich; purchased by South Korean investor in 2005 and relaunched in 2006 (Modern Creation Munich)
• Like so many before it, basis in repetitive monogram pattern printed on coated canvas fabric for bags, shoes, and accessories
• 99% made in Asia (“imported”)
• CD: Michael Michalsky (GER)
• Another logo-laden accessories brand backed by little substance

Loewe (Spanish) [online] $$

• Based and produced in Madrid, it’s Spain’s best kept luxury secret
• Acquired by LVMH in 1996
• Different perspectives: flamenco color palette, shapes like the puzzle and knot bags, and use of animal shapes (elephant, panda)
• CD: Jonathan Anderson (UK)
• The luxury fashion industry’s latest darling and must-have brand

Acne Studios (Swedish) [online] $

• Stockholm’s most famous (?) fashion export, in good company with Filippa K, Nudie Jeans, Cheap Monday, and Fjallraven
• A favorite of downtown and Brooklyn hipsterites
• Great mix of basics, curious colors and cuts, upscale footwear, and quality leather goods
• Production in Asia, EU, and Italy
• CD: Jonny Johansson (SE)
• Quintessential 21st century Swede

There are many others, of course, but I ran out of energy on this exercise. I would like to add Rick Owens, Marni, Martin Margiela, and Want Les Essentiels in the future, and also touch on luxury retailers, which I have been discovering myself, like Lane Crawford in Hong Kong and El Palacio de Hierro in Mexico. Maybe I will work on an addendum.

Not worth mentioning (the shit list): Buscemi, Givenchy, Balmain, Giuseppe Zanetti, Michael Kors, Hugo Boss, Philipp Plein, Dior Homme…all brands that represent all the wrong things with ‘fashion’ and ‘luxury.’

I hope it is as informative to you as it was time-consuming for me!

Next posts: Dondup aperitivo with the SDA Bocconi Luxury & Arts Club, Bottega Veneta Home Store, and visiting Villa Necchi, a historic mansion in the center of Milano.