The "I" Word
Issue No. 13
Inflation, how you’ve become so painstakingly familiar with this over the past few months, and it’s only amplifying in real-time. Inflation in fashion (from the brand and consumer viewpoint) is a tricky line to walk. It’s happening across all categories of apparel and accessories, from high street retailers to marquee luxury players.
Prices are only going up as you read this, and promotions will run far and fewer in the seasons ahead. Fashion brands, consumer packaged goods companies, and retailers raise prices over time as many other businesses do. Nothing abnormal. It’s just turning out that sticker shock is more shocking than ever.
Starting today, Louis Vuitton has raised prices on “leather goods, accessories, and perfumes.” Their parent company, LVMH, has also announced an increase in TAG Heuer watches and an impending price rise in another of its mega-brands, Christian Dior, in the months ahead. Chanel is back at it again at hiking prices.
Small businesses are feeling the pinch, too. With deeper customer relationships and ties to communities, many of these companies have held out as long as possible before having to pass along the costs to consumer wallets. The hold-out for them is coming to an end, and it’s distinctly within sight. But they’re doing their best (some in uncharted waters) to communicate honestly and effectively with you.
You have the stresses of the supply chain to account for changing margins. That equation that’s become all too familiar. From disruptions in global shipping, material and labor shortages, inflation in fashion is going to hit your closet hard.
According to McKinsey’s State of Fashion 2022 report, “67 percent of fashion executives expect to increase retail prices in 2022, with an average uplift of 3.2 percent, while 14 percent of executives even expect to increase prices by more than 10 percent.”
As unpleasant as this is to be on the receiving end, many brands are navigating how and when to tell customers that prices will be going up. In Professor Utpal M. Dholakia’s recent article in the Harvard Business Review, he notes that “where communicating price increases, it is best to call a spade a spade.” Noting the importance of telling you, the consumer, directly and giving a brief authentic reason as to why.
Will a transparent understanding of price increases change your discretionary spending habits and choices this year?
Maximize the Wear of What You Own
How to Reconstruct Suiting as Separates
Workwear is changing — emphasis on casualization and comfort — but what does that mean exactly? It’s not the same across the board by any means for everyone and it gets more nuanced within industries, company culture, and what your day-to-day looks like. It is, however, a great rethink of what’s hanging in your closet. Here are four ways to style suiting as separates (two in menswear, two in womenswear) for a new take on polished everyday work style.
Style Select
For the Glossiest Lips Around
Light, near sheer coverage that’s lasting and shines, Tom Ford’s Gloss Luxe Lip Gloss is the secret lip sauce I reach for each day when heading out or logging onto Zoom. Sometimes I’ll layer over this lipstick and other times I stick to this high-shine gloss as a solo show. Something extra: the aroma of these sticks when you open the tube is a very Tom Ford touch.
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Rescue your hair: Winter’s not over yet. Keep that hair routine in rotation for nourishment and to avoid frizz, dryness, flyaway’s and friend ends. These products are what I swear by, but I know that everyone has different hair consistency and responses to beauty products. Take these experiences into consideration with Olaplex. I’ve had no issues and have been using their products weekly for over a year.
Work-appropriate men’s sneakers: An office-approved style to wear with slacks, sports coats, sweaters, and jeans. Check out this high/low selection of men’s trainers to dress up in comfort.
