link.png Adapting to the times: the CFDA rethinks Fashion Week← Back

 

New York Fashion Week, as we know it, could be about to change.
 
Today, the CFDA announced that it is rethinking the current system. In a statement published online, Steven Kolb, President and CEO of the CFDA said:  “Designers, retailers and editors have been questioning the relevance of fashion week in its current format for some time.”
As a result, the CFDA is hiring the Boston Consulting Group to carry out a thorough study into the role of fashion week. Kolb explained that the decision to hire an external body was with the aim “to create an in-depth analysis and roadmap for the future of fashion shows.”
 
This news comes as the luxury fashion industry tries to adapt to the times: in the past few weeks, some New York based designers have even been altering their business models in order to counterbalance the effect of internet and social media, as well as to keep up with the fast pace of fashion. As the role of digital channels has become important prominent to diffuse footage of catwalk shows, it’s led to a predicament: customers now have to wait up to 6 months before they can get hold of the pieces seen on the catwalk.  
Proenza Schouler is trialing a new approach: the label presented its Pre-Fall 2016 collection to the press but has placed the images under embargo until the collection will go in store. Meanwhile, after receiving the backing of an investor, Thakoon recently announced he plans to change to what he calls a “real-time fashion model”, opting for a more e-commerce driven approach.
Proenza Schouler and Thakoon aren’t the only labels to implement such measures: only yesterday, Rebecca Minkoff revealed that customers will immediately be able to buy some items from the catwalk show in January.
 
We won’t know Boston Consulting Group’s findings until after NYFW. However it’ll be interesting to see how this research will impact the luxury fashion system in the future.