New Balance Hits Record $6.5 Billion Sales, Outpacing Industry Giants

Welcome to the 26th edition of the Maximalist! Dive into the ultimate guide, filled with insider insights into the world of fashion, art, real estate, travel, jewelry, and horology.

The world of luxury is never boring, and this week is no exception. Let’s dive in!

Markets

On this week’s agenda:

1. Milan Fashion Week F/W '24

2. New Balance Hits Record $6.5 Billion Sales, Outpacing Industry Giants

3. Paris Fashion Week Autumn/Winter 2024: What we can Expect

4. Rihanna's Encore: A Dazzling Return as Dior Ambassador

5. Vogue World 2024 in Paris: Celebrating a Century of Fashion and Olympics

6. Rowing Blazers Embarks on New Growth Chapter with Burch Creative Capital Acquisition"

7. Pharrell Williams and Tyler, the Creator's Bold Fusion for Louis Vuitton's Spring 2024 Collection

Milan Fashion Week F/W '24

At Milan Fashion Week for Fall/Winter 2024, designers opened up new realms of creativity, blending the lines between the fantastical and the wearable, the historical and the forward-looking. Glenn Martens, for Diesel, not only showcased his collection but also offered a rare glimpse into the preparation process, live-streaming the behind-the-scenes action and thereby democratizing the fashion experience. This approach resonated with Diesel's audience, further cementing Martens' reputation for connecting with youth through innovative presentations and designs that mix novelty with practicality. The collection itself, with its frayed patchwork dresses and leopard jackets, was a testament to Martens' ability to balance edge with accessibility.

Kim Jones at Fendi took a different route, focusing on the refinement of shape and structure in women's ready-to-wear. Jones presented a collection that emphasized tailoring and movement, aligning with the season's trend towards understated, ladylike fashion. The pieces moved gracefully, embodying a blend of sophistication and ease that has become a hallmark of Jones' work at Fendi.

Prada, under the guidance of Miuccia Prada and Raf Simons, delved into a deep exploration of femininity and glamour, drawing from various decades to shape a collection that was both reflective and innovative. The designs, from bow-embellished dresses to poodle skirts and baseball jackets, were a playful yet profound nod to the evolving sartorial choices that mark different stages of womanhood. Prada's collection stood out as a romantic ode to fashion's ability to capture and reinterpret the essence of our past and present selves.

Adrian Appiolaza presented Moschino’s collection, which was both a tribute to the house's late creative director, Davide Renne, and a celebration of Appiolaza's own dreams coming to fruition. Embracing Moschino's inherent theatricality and whimsy, Appiolaza introduced designs that were rich in narrative and character, from silk prints and pop patterns to exaggerated proportions. His debut collection was a vibrant homage to Franco Moschino's legacy, showcasing a keen ability to blend the fantastical with the wearable in ways that speak to a diverse audience.

New Balance Hits Record $6.5 Billion Sales, Outpacing Industry Giants

In an impressive display of growth and resilience, New Balance has announced a record-breaking year in 2023, with sales soaring to over $6.5 billion. This remarkable achievement comes at a time when industry titans like Nike and Adidas are navigating through challenging periods, highlighting New Balance's successful strategy and increasing popularity among consumers.

The surge in sales, marking a 23% increase from the previous year, is attributed to the rising popularity of models such as the 550, 2002R, 530, and 574, which have become staples in the footwear market. Joe Preston, CEO of the Boston-based independent company, shared these figures, emphasizing the brand's double-digit growth across all major international markets.

New Balance's commitment to its American roots is evident in its "Made in USA" line, further bolstered by the expansion of its Skowhegan plant in Maine and the commencement of a new plant in Londonderry, New Hampshire. This dedication to domestic manufacturing is a key component of the brand's identity and appeal.

The brand's global success story extends beyond the United States, with Europe experiencing a staggering 35% growth. Preston highlighted the brand's achievement of surpassing one billion in sales in the clothing sector for the first time, covering men's, women's, and children's apparel.

Investments in marketing and communications have played a significant role in New Balance's growth. The "Run your way" campaign, particularly in the lead-up to the Olympic year, has strengthened the brand's presence in the European market. Moreover, New Balance's strategic sports partnerships with high-profile athletes like Coco Gauff, Jamal Murray, and Raheem Sterling have significantly boosted the brand's visibility and appeal.

These partnerships, according to Preston, have not only enhanced New Balance's stature in the sports world but have also bridged the gap between sport and culture, attracting a wave of new customers. In fact, last year, 63% of the brand's online shoppers were new consumers, a testament to New Balance's growing appeal and effective marketing strategies.

Looking ahead to 2024, New Balance is poised to further capitalize on its growth momentum by expanding its physical retail presence globally. Plans include opening 90 new stores and refurbishing around forty, along with creating a hub for athletes at the Place de la République in Paris during the Games.

From its origins in 1906 as The New Balance Arch Company, specializing in orthopedic insoles, to becoming a powerhouse in the sports shoe industry, New Balance's journey is a remarkable story of innovation, quality, and strategic growth. Under the ownership of Jim Davis since 1972, New Balance has not only maintained its commitment to excellence but has also embraced opportunities to evolve and expand, setting new benchmarks in the competitive world of sports and lifestyle branding.

Paris Fashion Week Autumn/Winter 2024: What we can Expect

Paris Fashion Week for Autumn/Winter 2024 is shaping up to be an eventful showcase, running until March 5th with a total of 108 shows and presentations on the calendar. This season is buzzing with anticipation for the debut of three designers stepping into the spotlight: Seán McGirr at Alexander McQueen, Chemena Kamali at Chloé, and Pelagia Kolotouros at Lacoste. Each designer has already teased their vision, with McGirr exploring the "feral girl" motif synonymous with McQueen's legacy, Kamali drawing inspiration from iconic women who encapsulate Chloé's essence, and Kolotouros offering a narrative that connects René Lacoste's storied past to the present.

The week will not only spotlight these debuts but also feature presentations from Paris's renowned mega brands such as Dior, Loewe, Hermès, Balenciaga, Valentino, and Chanel. Additionally, eagerly awaited shows from Miu Miu, Victoria Beckham, Courrèges, Dries Van Noten, Rick Owens, and others are set to take place. Highlights include Coperni's largest show to date and Mugler's cinematic portrayal of "dark glamour."

A significant milestone will be celebrated as Nicolas Ghesquière marks his 10th anniversary at Louis Vuitton, reflecting on his tenure in an industry where the role of artistic directors is ever-evolving. This season also welcomes emerging talents and introduces new categories, with the return of brands like Ester Manas, Off-White, Vetements, and Marine Serre to the show calendar. Newcomers such as CFCL by Yusuke Takahashi and Zomer by Imruh Asha and Danial Aitouganov are expected to bring fresh perspectives to the official lineup.

The LVMH Prize will spotlight 20 semi-finalists, including Duran Lantink, Karoline Vitto, and Marie Adam-Leenaerdt, promising a glimpse into the future of fashion innovation. Despite some notable absences, the week is filled with celebrations and honors, including an award for Simon Porte Jacquemus, highlighting the event's blend of tradition and forward-thinking.

An intriguing trend this season is the thematic focus on books, with several fashion events and pop-ups celebrating literary culture, indicating a broader cultural engagement within the fashion industry. This Paris Fashion Week is set to be a testament to the industry's dynamic nature, showcasing a blend of legacy, innovation, and cultural depth.

Rihanna's Encore: A Dazzling Return as Dior Ambassador

Rihanna is set to make a grand return as the face of Dior, marking a significant rekindling of the partnership between the global superstar and the iconic fashion house. While the specifics of her new deal with Dior remain undisclosed, it's clear that Rihanna's influence and star power are poised to play a pivotal role in the brand's upcoming campaign. The news comes on the heels of Rihanna and her partner A$AP Rocky's arrival in Paris, where they celebrated Valentine's Day and participated in a photoshoot at the Château de Versailles.

Rihanna's history with Dior dates back to 2015, when she broke new ground as the brand's first black ambassador. Her initial campaign, also shot by Klein at Versailles, coincided with significant moments for Dior, including the "Dior & Me" documentary and the "Designer of Dreams" retrospective, amidst the brand's creative leadership transitions. This partnership not only elevated Dior's cultural standing but also underscored Rihanna's influence in the fashion world.

The spotlight on Rihanna was especially bright during this year's Haute Couture season, where she exclusively attended the Dior show, hinting at her renewed ties with the brand. Her presence alone was a boon for Dior, generating an estimated $9.3 million in press and social media visibility, according to Launchmetrics. Recognized as one of the most influential cultural figures of our time, Rihanna's collaborations, including her ventures with LVMH through Fenty and previous engagements with Dior, have solidified her status in the fashion industry. Her return as Dior's ambassador is anticipated to leverage her high-fashion appeal and widespread popularity to support Dior's ambitious growth targets.

While official confirmations from Rihanna and Dior's representatives are still pending, the fashion and entertainment communities eagerly await further details on this high-profile collaboration.

Vogue World 2024 in Paris: Celebrating a Century of Fashion and Olympics

Vogue World is set to dazzle Paris with its third edition, transforming the iconic Place Vendôme into a grand celebration of fashion, sport, and culture on June 23, 2024. This event marks a significant evolution from its inception in downtown New York City in 2022, which combined the elements of a street fair and fashion show into a legendary night. The following year, Vogue World: London brought a glamorous night at the theater to life, supporting arts and cultural organizations with a star-studded runway and performances.

This year, Vogue World: Paris aims to elevate the experience even further by celebrating 100 years of fashion and sport, coinciding with the city's vibrant history and the upcoming Olympics. Anna Wintour, alongside notable figures such as Bruno Pavlovsky, Simon Porte Jacquemus, Olivier Rousteing, Marine Serre, Pharrell Williams, and French Olympians, announced the event, promising an opening ceremony that honors the extraordinary city of Paris and its contributions to fashion and sport over the century.

Pharrell Williams, who has made Paris his home since taking the helm at Louis Vuitton Menswear, expressed his excitement for showcasing what is truly French style, emphasizing the inclusive spirit that makes Paris a haven for artists and fashion. The event is set to collaborate with youth athletic academies across France, integrating Olympic sports with French fashion themes from each decade since 1924, the last time Paris hosted the Olympic Games. The evening promises to highlight French designers and surprise live performances, showcasing the best of Parisian fashion and culture.

The production team includes industry luminaries such as Carine Roitfeld, Ib Kamara, Alexandre Samson, Dame Pat McGrath, and Parris Goebel, ensuring a spectacle of fashion, beauty, and dance. Vogue World will also contribute to a meaningful cause by donating a portion of the net proceeds from ticket sales to the Paris 2024 charitable tickets program, supporting low-income households and aspiring young athletes across France.

With a limited number of tickets available, Vogue World: Paris is not just an event but a landmark celebration that bridges the worlds of fashion, sport, and philanthropy, promising an unforgettable experience in the heart of Paris.

Rowing Blazers Embarks on New Growth Chapter with Burch Creative Capital Acquisition"

Rowing Blazers, the cult menswear brand known for its vibrant and preppy aesthetic, has entered a new phase of expansion and innovation by selling a majority stake to Burch Creative Capital. The partnership, which also includes notable investors Tom Vellios, co-founder of Five Below, and Jason Epstein, partner at Stonecourt Capital, marks a significant milestone in the brand's journey since its inception in 2017.

While the financial details of the transaction remain undisclosed, the acquisition promises to inject new energy and resources into Rowing Blazers. The brand plans to leverage this opportunity to strengthen its team by hiring for key positions, further develop its burgeoning women's line, enhance distribution channels, and increase its retail presence. A flagship store in Manhattan is slated to open by fall 2024, signaling the brand's ambitious vision for the future.

Jack Carlson, co-founder of Rowing Blazers, will continue to lead the brand's creative direction, ensuring that its unique identity and ethos remain intact. David Rosenzweig, another co-founder, will maintain his role as director of strategy, focusing on the brand's collaborations and partnerships that have been pivotal to its success. Additionally, the brand will welcome its first CFO, Grant Simm, who brings a wealth of experience from Aimé Leon Dore, where he played a crucial role in the brand's growth and its partnership with LVMH Luxury Ventures.

Chris Burch, the founder of Burch Creative Capital, expressed his enthusiasm for the acquisition, drawing parallels between Rowing Blazers and his first apparel venture, Eagle’s Eye. Burch's expertise, along with the strategic acumen of Epstein and Vellios, is expected to propel Rowing Blazers into a global brand. The partnership aims to enhance the brand's operational excellence, production quality, and market reach, particularly in the women's fashion segment.

Rowing Blazers had a successful year last year, including their collaborations with luxury powerhouse Gucci and retail giant Target. These partnerships have not only elevated the brand's profile but also demonstrated its versatility and appeal across different market segments.

Jack Carlson expressed his excitement about the partnership with Burch Creative Capital, emphasizing the opportunities it opens for innovation, reaching new audiences, and improving product offerings. The development of the women's line is a particular focus for Carlson, who has observed strong demand and success in women's products, including the popular sheep sweater and the women's collection for Target.

With Burch Creative Capital's track record of nurturing and scaling fashion brands like Tory Burch and Staud, Rowing Blazers is poised for a transformative journey ahead. The partnership symbolizes a confluence of entrepreneurial spirit, creative vision, and strategic acumen, setting the stage for Rowing Blazers' evolution into a distinguished player in the global fashion arena.

Pharrell Williams and Tyler, the Creator's Bold Fusion for Louis Vuitton's Spring 2024 Collection

In a groundbreaking collaboration for Louis Vuitton, Pharrell Williams, the brand's Creative Director, has partnered with Tyler, the Creator, to unveil a menswear range that marries high fashion with streetstyle and whimsical elements. This partnership marks Williams' first foray into collaborative menswear since taking the helm at Louis Vuitton, following in the innovative footsteps of his late predecessor, Virgil Abloh.

The Spring 2024 collection is a testament to both Williams' and Tyler, the Creator's shared love for vibrant colors and playful designs. They have reimagined Louis Vuitton's iconic monogram with hand-drawn motifs, introducing the Craggy Monogram, which symbolizes the duo's adventurous spirit and Tyler's jet-setting lifestyle. A standout piece from the collection is the €68,000 Courrier Lozine 110 trunk, a luxurious item that showcases Tyler's admiration for the classic LV trunk, redefined with exclusivity and modern flair.

Sportswear elements are prominently featured throughout the collection, with golf being a significant source of inspiration. This is evident in the fuzzy grass-printed fleece jackets and pastel-colored buckle coats, as well as in the wool-cut aviator jackets that come complete with monogram headgear and pilot goggles. The collaboration also ventures into the whimsical, with collectible cereal bowls and compact cheeseboards, alongside references to French pastries manifested in waffle-shaped pouches adorned with flavored leather trimmings and buttered finishes.

The collection doesn't shy away from preppy accents, offering tailored blazers, cable-knit jumpers, and pleated trousers that blend seamlessly with the more playful aspects of the range. Golf enthusiasts will appreciate the themed accessories, including lawn-inspired club sets, protective covers, and Damier towels, further highlighting the collaboration's unique blend of luxury fashion and sportswear.

Set to launch in late March via Louis Vuitton, the Spring 2024 collaboration between Pharrell Williams and Tyler, the Creator is a vibrant celebration of creativity, luxury, and the joy of fashion. This range not only continues Louis Vuitton's legacy of innovation but also introduces a fresh, dynamic vision under Williams' creative direction, promising a collection that's as collectible as it is wearable.

Thank you again for supporting the world of luxury.