The CEO Fashion Needs Right Now

What American Department Stores Can Learn From European Retailers, The Debrief: Occasion Wear's Revival

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WHAT YOU NEED TO KNOW TODAY: THURSDAY, JANUARY 19, 2023 Many fashion companies are recruiting non-traditional CEOs as the job grows more complicated. From creative installations to intimate store design, American department stores have much to learn from their European counterparts. Richemont and Burberry Group lost almost a quarter of their China sales last quarter as lockdowns kept consumers at home. Shein is in talks to fundraise at a valuation of $64 billion, less than a year after securing a $100 billion valuation, reports The Financial Times. A pair of private equity firms took a minority stake in Mario Dedivanovic's Makeup by Mario, valuing the brand at over $200 million. This week on The Debrief, BoF retail correspondent Cathaleen Chen explains what's driving the occasion wear boom and why it has staying power.

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WORKPLACE & TALENT The CEO Fashion Needs Right Now By Sheena Butler-Young

Several major fashion firms, including The Gap, VF Corp. and The RealReal, are without a permanent chief and experts say the turmoil at the top is a prime opportunity to reshape the industry's leadership profile. READ MORE

RETAIL What American Retailers Can Learn From European Department Stores By Cathaleen Chen Creative experiences and a less-standardised approach to operations and design have helped iconic stores like Selfridges, Liberty and Le Bon Marché resist multi-brand retail's decline. READ MORE

LUXURY Richemont, Burberry Say China Sales Slumped Amid Covid Surge By Bloomberg

Demand for products in luxury's biggest growth engine have been muted by Covid restrictions for much of the last year. READ MORE

BEAUTY Makeup by Mario Secures Minority Investment at $200 Million Valuation By Priya Rao Provenance and Silas Capital took a minority stake in Mario Dedivanovic's Makeup by Mario, valuing the brand at over $200 million. READ MORE

Elizabeth Von Der Goltz Joins Farfetch in Executive Shuffle READ MORE

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NEWS BRIEFS Met Gala Announces Co-Chairs and Dress Code Report: Fashion Retailer Shein in Talks to Raise Funds at Lower Valuation of $64 Billion US Holiday Sales Miss Estimates as Inflation Weighs on Demand Arezzo & Co Acquires Brazilian Footwear Brand Vicenza

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PODCAST The Debrief | Why Getting Dressed Up Is Here to Stay in 2023 By BoF Team

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The Next Iteration of Kuwait's Oud Fashion Talks From the 2022 FIFA World Cup in Qatar to the 2021 World Expo in Dubai, the Gulf Cooperation Council has drawn increasing attention from the global fashion industry, media outlets and consumers alike.  Zainab Abdulrazzaq, founder of fashion and beauty publication 3oud.com, is looking to achieve similar global exposure for Kuwait and its fashion industry, launching Oud Fashion Talks in 2022 to cement Kuwait's place on the global fashion map. "Now we have encouraged more of a national awareness, we are looking for greater international exposure," says Abdulrazzaq. READ MORE

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