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.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)