08 - Approaches to the Concept of Fashion

Question 1

fashion as social change

Answer 1

drivers:
- horizontal identity
- imitation
- opposition/distinction

Question 2

social change: horizontal identity

Answer 2

non-verbal communication that indicates our social affiliations
- sense of belonging - member of a tribe

-> often used by brands to engage w/ certain communities (ex: Levis and LGBTQ+ campaigns)

Question 3

social change: imitation

Answer 3

vertical identity
- natural need for imitation in humans
- ex: imitating trends

Question 4

social change: opposition/distinction

Answer 4

attitude valuing autonomy from mainstream trends
- ex: hipsters, dandyism, ‘anti-fashion’…etc
- quickly become popularized (ex: hispters)

-> derision towards high social class culture symbols (Lidl shoes, IKEA bag)

Question 5

social change: currently

Answer 5

systematic change has been institutionalized = rise in consumption
= people give less value to the items they purchase

BUT - counter-trend: deconsumption in Western countries

Question 6

clothing industry: fashion segments

Answer 6

fashion segments (updated/trendy)
- couture
- RTW

≠ apparel (out of date)

Question 7

RTW segments

Answer 7

designer (premium RTW)
diffusion (premium RTW)
premium industrial brands
sportswear brands
mass fashion
value & discount

Question 8

fashion segments by market

Answer 8

luxury: HC, DC, designer + diffusion
middle: premium industrial brands + sportswear
mass: fast fashion

Question 9

haute couture

Answer 9

legally protected term in France + other countries
- review by Fédération de la Haute-Couture et de la
Mode

requirements:
- min 25 designs
- tailor made + handmade

Question 10

demi couture

Answer 10

industrial RTW meets traditional HC
- hand made
- 1/10 of HC price

ex: Zac Posen, Bottega Veneta

Question 11

designer collections (RTW)

Answer 11

• strong creative content
• partnership b/w designers + manufacturing firms
• seasonal, not timeless

ex: Prada + Chloe

Question 12

diffusion

Answer 12

• designer’s second lines
• more affordable (economies of scale)
• usually to extend into wider market segments

ex: Miu Mu + See By Chloe

Question 13

premium industrial brands

Answer 13

• loyal customer base
• quicker TTM

ex: MaxMara + Pepe Jeans

Question 14

sportswear brands

Answer 14

athletic inspired way of dressing
- fastest growing category in fashion industry (McKinsey)
- growing niche brands (Lululemon)

-> cross-sector convergence w/ luxury brands that have adapted luxury athleisure (ex: Jacquemus)

Question 15

mass market

Answer 15

4 overlapping eras
- traditional fast fashion
- value & discount
- ultra-fast fashion
- SHEIN

Question 16

impact of cultural + geographic specificities

Answer 16

may change the weight of each segment
- France: large middle market
- UK: large sportswear + mass market
- Portugal: large mass market

Question 17

challenges in fashion

Answer 17

economic turbulence
shrinking of premium market
fading of HC
communicating sustainability

Question 18

economic turbulence

Answer 18

“industry of super winners + big losers”
- after covid: only 27% generated profit

consumers are expected to deprioritize apparel + footwear as rising prices diminish disposable incomes (McKinsey)

Question 19

shrinking of the premium market

Answer 19

challenges
- stock is a killer
- small growth potential

key success factors:
- strong identity (Zadig)
- specific know-how (Salsa jeans)
- explore local perceptions (Pepe Jeans partially acquired by LVMH in Asia)

Question 20

fading of the haute couture

Answer 20

premium RTW (diffusion + designer) are dangerously similar to couture

• supply side: collections moving upmarket powered by nre technologies
• demand side: clients more concerned about showing off status rather than unique garments