TOKYO — Recession notwithstanding, two more fashion brands are plotting to expand their businesses in Japan — albeit in different ways.
Lanvin is preparing to launch a women’s version of its young, casual men’s wear brand, Lanvin en Bleu, with local partner Itochu Corp. Meanwhile, Kate Spade LLC has just inked a deal for a joint venture with Sanei International.
The new Lanvin collection, which will launch next spring, targets women in their 30s. Like its men’s wear counterpart, it will be a Japan-only endeavor.
Itochu plans to open 10 shops in department stores and other shopping destinations within the first year and reach 30 in five years.
Itochu said it expects the Lanvin en Bleu women’s collection to post annual sales of 1 billion yen, or $10.1 million, in the first year and 4.5 billion yen, or $45.5 million, in five years. The collection, which will consist of both apparel and accessories, will hit price points ranging from 20,000 yen, or $202, to 50,000 yen, or $505.
As for Kate Spade, the New York-based company is strengthening its ties to its long-standing Japanese partner Sanei International. The two parties are forming a joint venture to manage Kate Spade’s business in Japan. Sanei will hold a 51 percent stake in the new company, Kate Spade Japan, while Kate Spade LLC will control the remaining 49 percent. The new company will be operational as of Sept. 1.
Sanei, which has been Kate Spade’s Japanese licensee since 1996, said the accessories brand’s business has been strong here. The two parties want to form a more stable partnership for future growth and make “aggressive investments,” the Japanese company said.
Sanei said it is aiming to reach a medium to long-term retail sales target of 9 billion yen, or $90.9 million, from its current level of 5 billion yen, or $50.5 million. Projects include the refurbishment of Kate Spade’s Aoyama store, set to reopen in October, and the launch of Kate Spade apparel sales at select stores in Japan.
Meanwhile, after signing with Taejin International last December, Kate Spade’s Korean distribution is also moving forward. The group recently opened Spade’s first two shop-in-shop locations in Seoul in the Lotte Main and Lotte Jamsil department stores.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion