Diversifying in one way or another to more effectively capture marketshare was a common theme among some of the firms presenting at twoseparate investor conferences on Wednesday.
At the Piper JaffrayAnnual Consumer Conference at the New York Palace Hotel, Joe Parsons,executive vice president, treasurer, chief financial officer and chiefoperating officer of Michael Kors Holdings Ltd., said, “We’re actuallyvery excited about the accessible luxury business, which we believe isgrowing both in North America and globally. So we think our positioningis excellent there.”
He told attendees that the company is stillvery focused on handbags, but has expanded to other categories, such assmall leather goods. “We priced it aggressively initially and smallleather goods, again coming off of a small base, [is] actually ourfastest-growing component in our retail stores today.”
He saidthe company is also looking to convert 1,000 wholesale accessories doorsinto shop-in-shop environments, and do the same for women’s wear,footwear and men’s wear. Looking ahead, e-commerce will eventually be 10percent of global retail sales, but Parsons declined to provide anytimeline on when that could occur.
Glenn K. Murphy, Gap Inc.’schairman and chief executive officer, said at the Piper conference thatthe company “drove our business on market share in the Nineties throughreal estate and the introduction of new brands. You don’t gain marketshare anymore through a real estate strategy.” His point was that onenow gains market share through marketing, product, execution andinnovation.
Murphy said the company sees itself as a “world classservice provider,” given its portfolio of brands. It has three iconicbrands — Gap, Banana Republic and Old Navy — and three developing brands— Athleta, Piperlime and Intermix. Gap Inc. plans to grow bycapitalizing on the global opportunities that are available, an increasein square footage that’s thought out in terms of new brands and in newcountries, as well as its outlet business, and via a multichannelexperience.
At the William Blair & Co. Annual Growth StockConference in Chicago at the Four Seasons Hotel, Michael JosephKowalski, chairman and ceo of Tiffany & Co., said, “We have been andwe will continue to be focused on evolving the Tiffany brand to be amore effective global competitor. To that end, we will continue tomigrate entry-level price points upward over time, injecting more designexcitement and materials innovation into our fashion jewelry categoryto accelerate growth as we move up the price-point ladder.”
Kowalskiemphasized that the company isn’t walking away from the “criticallyimportant silver jewelry category. However, we are developing excitinginnovative new silver jewelry and fashion jewelry more broadly that webelieve will command higher retail prices driven by product design.”
He also said the company will unveil a new Web site later in the year, which will address the changing digital landscape.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews