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Eileen Fisher announced earlier this week that she is stepping aside after 40 years at the brand she founded. Her successor, Patagonia Chief Product Officer Lisa Williams, will start next week.
Fisher lived the dream situation for many designers – start your own brand, achieve success and cultural relevance without straying from your original vision, then gracefully exit and leave the business in the hands of a promising successor to build on that legacy.
It’s true that Fisher never reached the proportions of Ralph Lauren or Calvin Klein (her brand’s sales topped $500 million in the mid-2010s, and revenue hit $241 million last year). But she can say that she has left her mark on the fashion industry and culture. It’s true for both the clothes — she was creating small capsule collections before “elevated basics” and “beach grandma” entered the lexicon — and the brand’s commitment to a slow fashion business model embraced the idea of reuse and resale before weight became an industry buzzword.
In the interview, Williams said that Ellin Fisher’s biggest opportunity is to integrate its core line with its Renew business, which collects, repairs and sells second-hand clothing (but is currently sold on a separate website).
Restoring sales to pre-pandemic levels is secondary.
“It’s not a high priority, the priority is growth and reasonable growth,” she said. “This is a business he did for the right thing. [brand] And for the user, and development has become a natural result of that. And I think that’s the way we’re going to continue.
Curve fronting is different from current.
Eileen Fisher’s first and most important creation takes a concept that resonates in luxury circles — minimalist capsule dresses popularized by Japanese designers and Donna Karan’s seven simple pieces — and makes it accessible to the masses. Today, brands at every price point define their tightly curated, upscale basics, but Fisher was down to earth.
“The two things that raise Eileen Fisher [the brand] They are good design and a force for good,” Fisher said in an email. “In the design space, I’m, in many ways, doing what I’ve always done—focusing on perfecting and improving our simple and timeless pieces in ways that ensure they work together as a system, to make our customers’ lives easier… Ever since I started this journey, I’ve wanted to make things beautifully beautiful. He was with me.
That unwavering approach hasn’t exactly kept her calm even during seasons when petiteness drives trends. But it helped build a lasting image around her; The “Eileen Fisher look” has nearly passed the fashion cycle (in a 2014 article titled “I Can’t Lie: I Love Eileen Fisher”). The cutMolly Fisher calls it “the irresistible comfort of familiarity.”) When the culture swings in the direction of the brand — Lena Dunham’s celebrity endorsement at peak or this year’s “beach grandma” TikTok meme — the brand has new acolytes.
Flashy, “timeless” clothing, from the luxury space to contemporary labels like Neely Lotan and direct-to-consumer brands like Aire, has been a trend that has been on the rise for decades.
Lead by example
The brand has taken a similar approach to business, turning slow growth and sometimes growth into a virtue.
“For me, growth is not about hitting a number. It comes from doing things the right way – from making clothes that work in people’s lives, that work together and simplify our customers’ closets, from being responsible and transparent about our successes and struggles, and learning how to do more with less. he said. “If we have a more objective and efficient business model, we can be more profitable without having to grow to be profitable.”
That’s the brand’s mantra, and it was early to embrace sustainability in seemingly familiar moves. Eileen Fisher It began renovations in 2009, two years before The Real Real, or Poshmark, was founded and a decade before major brands began mass selling.
Before there was a clear payoff for consumers — and during a climate of declining sales — Fisher largely avoided outside investment (the brand is profitable with few exceptions). It has been employee-owned since its inception). That’s why there are about 60 Elaine Fisher stores instead of 600, and its sales have increased by $500 million instead of $5 billion.
“There’s no need to change that dynamic any time soon,” Williams said.
And she’s not looking to import Patagonia’s more aggressive environmental activism — Eileen Fisher Inc. won’t be suing federal lands anytime soon (“The quiet leadership Eileen and the company have taken over the years has been very effective,” Williams said). He has seen them play an assertive role, such as leading multi-brand efforts to adopt more responsible supply chain practices.
But for the most part, the brand is playing on foundations built to support nearly 40 years of steady and quiet growth, leaning into its niches in the popular psyche.
“We’re really in an environment where consumers themselves are rewarding … brands that have had the right positioning and are ingrained in this for a long time and are not engineering back into sustainability,” Williams said. “I think that’s why our message and our nearly 40-year history and making sure we do this the right way is where growth comes from.”
The news in brief
Fashion, business and economy
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Richmont, ex-Bulgari chief executive, says ‘not appropriate’ for board. The group has urged shareholders to vote against a proposal to appoint Francesco Trapani to the board because he is closely linked to arch-rival LVMH.
Authentic Brands Group acquired Ted Baker. Juicy Couture and Forever 21 owner Ted Baker have agreed to buy it for £211 million ($254 million), ending months of speculation over the fate of the British fashion group.
On lift forecasting in North America. Net sales will likely reach 1.1 billion Swiss francs ($1.2 billion) in 2022, compared with an earlier forecast of 1.04 billion Swiss francs, the Zurich-based company said in a statement on Tuesday. That’s slightly higher than the average analyst estimate.
Biden signs $430 billion climate, health care and tax bill. President Joe Biden on Tuesday unveiled a $430 billion bill billed as the largest climate package in American history, designed to reduce domestic greenhouse gas emissions and lower prescription drug prices.
The head of Selfridges is to step down as the department store changes hands. Ann Pitcher, who has served as managing director of Selfridges Group since 2019, has announced the completion of sales to Thailand’s Central Group and Austria’s Sina Holdings, saying she will leave the company at the end of the year.
Lululemon workers walk out of Washington, D.C. store to bid for union vote. Workers are slated to vote on August 26 and 27 to unionize with the United Teachers Union, an independent labor group founded and led by Lululemon workers.
H&M returns to China after cancellation over Xinjiang cotton The online store with more than 14 million subscribers is now on the market owned by Alibaba Group Holding Limited.
Swiss watches are more cautious after a strong first quarter. Luxury watch retailer Swiss Watches said on Tuesday that it expects a more challenging business environment in the second half of the current financial year, as strong economic conditions affect spending strategies.
Beauty business
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Sephora is about to expand to all Kohl’s stores. A year into the partnership, the beauty retailer will expand to all of Kohl’s 1,100 locations.
Estee Lauder’s outlook hit by Chinese locks, strong dollar. The perfume and skin care company said Thursday that it expects sales to fall 8 to 10 percent this quarter.
People
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Japanese couturier Hana Mori has passed away. The famed couturier, nicknamed “Madame Butterfly,” who built the multimillion-dollar fashion house known for its butterfly motifs, died on August 11 at the age of 96.
Suzanne Plageman has been named president of WME Fashion. The Condé Nast veteran oversees a fashion portfolio that includes Art & Business, IMG Fashion Events & Properties, IMG Models and The Wall Group.
As the executive shake-up continues, Asos has announced the departure of its chief financial officer. Matt Dunn, who serves as chief operating officer of the fast-fashion e-tailer, will leave the company at the end of the year, Asos said Wednesday.
Media and technology
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Miuccia Pradan, Nicole Kidman, Jeremy O. Katie Grand’s new ‘Perfect Awards’ to recognize Harris and more. Each year, the “Absolute Awards” recognize 21 individuals in fashion and beyond.
Linda Evangelista covers British Vogue. In the story, Evangelista described her slow return to the public eye after announcing in September 2021 that she had developed paradoxical adipose hyperplasia as a result of CoolSculpting treatment.
Tencent’s sales fall for the first time as China’s economy sinks. The slowdown reflects China’s worsening economy, which is hurting its big companies.
Deris will sell most of the shares. PR and marketing agency Berlin Rosen, founded in 2013 and known for playing a strategic role in launching and promoting several leading brands including Warby Parker, Everlane, recently invested in the New York-based agency. and Glossier. Financial details were not disclosed.
Compiled by Joan Kennedy.
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