What's in store for luxury fashion?
Much in the same way that we see John Lewis as the fashion retail bellwether, Burberry arguably plays the same role in the luxury sector. So when I took my seat at the brand’s London Fashion Week show yesterday – one of the hottest tickets of the week – I couldn’t help thinking about its profit warning, less than a week earlier.
Christopher Bailey’s metallic rainbow of variations on “corsets and capes” for spring 13 couldn’t be more optimistic, escapist and innovative, particularly for a brand which plays with more muted palettes. But Burberry will be hoping to turn those dreamy looks into healthy sales. After the profit warning earlier this month, shares fell 21%, with Investec analyst Bethany Hocking saying that the wider luxury sector was likely to suffer after the unscheduled announcement.
So why did sales slow for Burberry and how will the rest of the luxury fashion sector fare? Burberry wasn’t specific in its response and blamed general, global market conditions. At Drapers, we’re launching our first ever Luxury Market Report, aimed at dissecting the sector in the UK and its impact internationally by speaking to you, our readers and subscribers. If you work in the luxury fashion sector, as a retailer, brand, etailer agent or distributor, and you want to find out exactly how your sector is performing, please fill in this short survey: https://www.surveymonkey.com/s/DrapersLuxurySurvey. Your personal details are confidential and will not be published. And, you’ll be entered into a prize draw to win an iPad.
The report will be published in November in Drapers and drapersonline.com.
Thanks for your help. If you have any questions, just drop me a line.
Ana Santi, Deputy editor, Drapers