LVMH Moët Hennessy Louis Vuitton made waves recently with its announcement of the fashion house, Fenty, led by Rihanna. This was a first in many aspects for LVMH. What stood out the most to me was LVMH was investing in someone whose original profession was not that of a designer. Yes, Rihanna was widely accepted in the fashion world as a trendsetter and had various collaborations under her belt, but she was not a traditional designer.
This got me thinking. If LVMH was willing to take on this investment in Fenty, had I underestimated the power of celebrity and overestimated what originally drew me into fashion? A recent article in WWD by Bridget Foley summed this all up quite well. Here's an excerpt.
“'It used to be that it was all about the product and it was all about the craft and all about the workmanship and the training and the background and devoting your singular focus to just that,' said Robert Burke, founder of consultants Robert Burke Associates, [and] name-checking a quartet of greats — McQueen, Galliano, Oscar, Saint Laurent. 'Today it’s not. I think it speaks to how society has changed, how the consumer has changed, how luxury has changed. I think ultimately the product is key. But the product alone today is not enough to carry it…it’s not enough to appeal to the consumer.'"
Foley herself explores various view points in the article, including how this move helps fashion reach the masses and how we need to be open to the fashion industry evolving.
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