Raf Simons Announced as Co-Creative Director of Prada

Miuccia Prada & Raf Simons

After months of speculation — including the rumor that he would be joining Miu Miu — Raf Simons has officially been announced as Co-Creative Director of Prada, beginning on April 2. The move sees the Belgian designer work alongside Miuccia Prada, with “equal responsibilities for creative input and decision-making” between the pair.

In joining the Italian label, Simons becomes the first person outside of the Prada family to lead the house. It also continues his relationship with the company, where he worked as Creative Director of the then Prada-owned Jil Sander from 2005 until 2012.

The first Prada collection from Miuccia Prada and Raf Simons will be for Spring/Summer 2021, and will be unveiled in September this year.

Source: Hypebeast

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Luxury Resale Is Growing Faster Than Primary Luxury Market

A new report from the Boston Consulting Group details that the luxury resale market is expected to grow at a faster rate than the primary luxury goods market. According to The Fashion Law who first reported on the study, luxury resale expects a 12 percent average growth rate through 2021, as well as a nine percent share of the personal luxury goods market. This level of growth would outshine the primary luxury goods market that’s expected to grow at an average rate of three percent.

The survey states that 50 percent of customers in the US that have purchased a luxury item within the past year have also participated in the luxury luxury market. It also notes that “secondhand sellers typically use resale to regain some of the money they spent on firsthand purchases—often so they can reinvest in new, full-priced luxury products.”

Analysts who worked on the survey conclude that this is actually “a powerful opportunity” luxury brand consumer bases because they have the chance to convert resale consumers to the primary resale market. Boston Consulting Group’s study found that 44 percent of consumers surveyed said they purchase “more-expensive luxury items than they would have bought without a resale market.”

Along the same lines, Bloomberg’s Sarah Halzack and Andrea Felsted also argue that higher access to reselling platforms could actually encourage younger consumers to take the plunge and purchase primary luxury goods instead of resale. “Say you’re considering a classic Balenciaga City bag for about $2,000 USD. Is it worth the investment? A scroll around The RealReal shows that you might be able to resell it for about $600.” They note that this could be “exactly the kind of assurance a first-time millennial or Generation Z luxury buyer needs to take the plunge on a pricey accessory.”

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SOURCE THE FASHION LAW

Kim Jones Confirmed at Dior Homme as Kris Van Assche Exits

After 11 years in at the helm, Kris Van Assche has announced that he will be leaving his position as artistic director of Dior Homme. The news comes as a surprise, with the Belgian designer having given no indication of plans to move on from the role in recent months.

"I am deeply honored to join the house of Dior, a symbol of the ultimate elegance,” said Jones. “I would like to warmly thank Bernard Arnault and Pietro Beccari for their trust in giving me this incredible opportunity. I am committed to create a modern and innovative male silhouette built upon the unique legacy of the house.”

"After 11 years at Dior Homme, my mind and heart filled with experiences, I am leaving this beautiful house to pursue new challenges," said Van Assche. "I wish to thank Bernard Arnault for the trust he placed in me, Sidney Toledano and Serge Brunschwig for their warm welcome at Dior and their continuous support during all those years."

Known for his urban, minimalistic aesthetic, Van Assche trained at the Royal Academy of Fine Arts, Antwerp, before moving to Paris to work at Yves Saint Laurent under Hedi Slimane. He followed Slimane to Dior Homme in 2000 but left in 2004 to start his own menswear label, which was well-received and garnered much attention from the industry at large. In 2007, when Hedi Slimane departed Dior Homme, Van Assche succeeded his former mentor at the creative helm. Van Assche’s label was closed when he last renewed his contract at Dior Homme in 2015.

Source: Hypbeast; Business of Fashion

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Jeremy Scott & Moschino

jeremy-scott-moschino-fashionado

Oh yeah!

Fashion just got a fresh dose of badass with the announcement of the super cool Jeremy Scott as the new Creative Director at Moschino. Scott replaces longtime [interim] director Rosella Jardini. If this is a marriage made in fashion heaven, as both labels  are known for their tongue & cheek chic approach, then the honeymoon may send shock waves and rainbows throughout the industry. This excites me!

Jeremy Scott, who has high profile clients like Britney Spears, Rihanna and Lady Gaga, will continue with his own label in addition to designing for the 30 year old Italian fashion house.

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