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.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty