fashion-features
fashion-features

Von Furstenberg, Karan Address Luxe

Diane von Furstenberg and Donna Karan shared insights at American Express Publishing’s Seventh Annual Luxury Summit at the Four Seasons Hotel here.

fashion-features/news
WESTLAKE VILLAGE, Calif. — Diane von Furstenberg and Donna Karan shared insights at American Express Publishing’s Seventh Annual Luxury Summit at the Four Seasons Hotel here. The three-day conference, which ended Tuesday, explored the high-end market in the context of economic uncertainty and the political climate.

Luxury is still growing among the most affluent U.S. consumers, but the weakened economy has dampened the eagerness to spend and has shifted shopping patterns, putting consumers in the driver’s seat, aided by Internet research and better deals online, according to the second annual survey of Affluence & Wealth in America, produced by American Express and Harrison Group.

A total of 12 million households were surveyed, with an average discretionary annual income of $352,000. The top 10 brands were: Ritz-Carlton, Louis Vuitton, Coach, Ralph Lauren, Target, Four Seasons, Prada, Rolex, Costco and Nordstrom, according to the survey.

“The ratings of about 200 brands were based not only [on] familiarity and regard, but also a lack of active dislike, that is, lack of bad experiences, with customer service or some other interaction with a brand,” said Jim Taylor, vice chairman of market research firm Harrison Group.

About 300 top executives from fashion, retail, travel and hospitality companies attended the conversations with von Furstenberg and Karan, which were moderated by Travel + Leisure editor in chief Nancy Novogrod.

Von Furstenberg has found more success on the second incarnation of her company, now 10 years old, by offering contemporary apparel to a wide range of demographics.

“It would be pretty depressing to dress only rich people, because they don’t always look so good,” she said. “It was the young, hip girls who I saw buying my vintage wrap dresses who inspired me to get back into the business.”

Von Furstenberg also diversified into the luxury sector by partnering with H.Stern, starting in 2004. “Jewelry is expensive, but the value is there, and we really launched a trend with bold, strong jewelry.”

She described her most challenging moment — before making up her mind to get back into the business. “People thought I was a has-been,” von Furstenberg said. “When you doubt yourself, nothing will happen. But once I decided, it wasn’t hard.”
Page: 
  • 1
  • 2
Next »
VIEW ARTICLE IN ONE PAGE
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false