A New Stage for New York Fashion Week & Coach Inc’s Strategic Moves
Big Changes for New York Fashion Week
Massive changes are set to transform New York Fashion Week in 2015. The first change to note is the name, with Mercdes-Benz no longer the sponsor the runway shows, the event will simply be called New York Fashion Week. WME-IMG the owner of Mercedes-Benz Fashion week seems set to buy Made Fashion Week, a lesser known rival that holds shows the during New York Fashion Week in downtown Manhattan. The show will also depart the Lincoln Center after a legal dispute with the city and community groups.
Coach Inc Makes a Shoe Purchase
American luxury group Coach Inc is set to buy luxury footwear brand Stuart Weitzman. The move is part of Coach’s ongoing strategy to move to the higher end of the market, with the purchase expanding its luxury shoe area to compete with fast growing rivals like Michael Kors and Kate Spade. The deal, valued at $574 million, has drawn some criticism from analysts who have said that the acquisition is an expensive distraction from the brands core handbag business. Critics noted that purchase was valued at twice Stuart Weitzman's annual revenue over the past 12 months. Coach's market share has suffered in recent years with a host of competitors eating into its market share in North America with more affordable and fashion forward handbags.
Cara Delevingne for Love Magazine
English actress and model Cara Delevingne has been appointed contributing editor of Condé Nast’s Love magazine for the forthcoming spring 2015 issue available from Feb 9. Katie Grand, editor in chief of Love, praised the model as ‘exceptionally bright, sharp and hilarious young woman’, adding that she was excited to let her exercise her skill as a journalist and writer.