Throughout the 2010s, The Row founders Mary-Kate and Ashley Olsen were routinely photographed carrying Hermès’ famed Birkin bag. Now, they seem to have created their own version.

The ultra-quiet luxury label is usually best exemplified by the phrase “if you know, you know” — and thanks to its smash hit Margaux bag, a lot more people are in the know. The Margaux has become a celebrity status symbol — Zoe Kravitz, Jennifer Lawrence and Kendall Jenner have been snapped carrying The Margaux — and more recently, a TikTok phenomenon. On the app, the hashtag #Margauxbag has nearly 2 million views and users are dubbing it the “new Birkin.” In December, Vogue called it an “heirloom in the making.”

Demand for the carryall tote, which starts at $3,490 and is sold in a number of sizes and materials including suede, leather and even alligator skin, is surging. In January, fashion search platform Lyst named the Margaux fashion’s hottest product.

An ‘It’ bag is the latest win for the Olsens, who launched the brand in 2006. Known for its sleek virgin wool coats, precisely tailored blazers, plush cashmere loungewear and leather thong sandals, The Row has long been beloved by wealthy shoppers and fashion insiders. In the past year, however, it’s reached another level in the cultural conversation, thanks to the quiet luxury craze that dominated fashion in 2023.

Wearing The Row has come to signal a degree of savvy — and bags are the best way to telegraph a wearer’s allegiance to a brand. Leather goods are famously the foundation of the luxury fashion business — and a breakout bag is the holy grail. The Margaux’s exclusionary starting price, especially from an independent brand, makes its widespread popularity all the more impressive.

“It’s rare. You can count on one hand how many times a bag becomes a major success, especially one coming out of what is considered a small brand,” said Robert Burke, New York-based fashion consultant.

Beyond an identifiable design and emphasis on quality materials, The Row pulled a few strategic levers, including controlled distribution and steady release of new colours, shapes and materials by season to make the bag a success.

The Mystique of the Margaux

While its use of quality materials puts it in league with Loro Piana and Brunello Cucinelli, The Row’s design speaks to an edgier client, said Neelam Ahooja, a stylist who runs an Instagram and YouTube channel dedicated to The Row. She compares the label to the likes of Dries Van Noten, Comme des Garçons, and Maison Margiela, which developed cult followings for distinct visual language of the brands’ designs.

“For me [The Row] is a way of life, I want my life to have richness, I don’t want it to be overcomplicated, I want it to be comfortable,” said Ahooja, who currently owns seven Margaux bags.

Legacy luxury labels, meanwhile, are increasingly relying on re-editions of tried-and-true shapes, said Burke, making a new silhouette feel especially fresh. As well, there’s something about the utilitarian, slouchy but classic shape that’s resonating with consumers right now.

“There hasn’t been as much newness with some of the more iconic brands, [The Row’s] timing was especially good for introducing this,” said Burke.

Due to its high price point, it took a few seasons to catch on, said Mytheresa chief buying officer Tiffany Hsu, but the e-tailer is now seeing an influx of requests for the bag.

Still, it’s hard to get a hold of the Margaux: 85 percent of bags introduced to online retailers including Bergdorf Goodman and Mytheresa in 2023 sold out, according to retail analytics firm Edited, only adding to the lore surrounding it, as TikTok users create videos with tips on how to score one. Ahooja gets a few unsolicited offers to buy her bags per week on Instagram.

The role of Millennial women, who came of age watching the Olsens on screen and now have “grown-up money” shouldn’t be discounted, said Jessica Graves, who writes the shopping newsletter The Love List. At a time when consumers are especially conscious about what fashion projects about their socioeconomic status, the bag has taken on a new meaning.

“Before, it was a customer who wanted a bag that was very unknown, but beautiful quality,” said Hsu. “Now, it’s a statement.”

Building a Leather Goods Business

Strategically, The Row has done a few key things right to make The Margaux a breakout hit.

Each season, The Row refreshes the Margaux, introducing new materials, colours and riffs, but sticking to the same signature shape. The bags come in suede and pebbled and smooth leather; some are made with canvas rather than leather lining. It also sells versions with new design elements, such as clipped corners, a belt and unfinished, raw seams.

In addition to its handbag-sized 10-inch and larger tote formats at 15 and 17-inches, the range now includes a mid-sized 12-inch with a functional crossbody strap, built to appeal to a wider range of customers. At the other end of the spectrum, the limited-edition alligator Margaux sells for around $50,000 — if they hit retail at all. Regular reiterations like these creates a sense of newness, helping to bring new customers into the fold, encouraging existing ones to buy more.

Outside The Row’s three stores and e-commerce site, The Margaux is sold at Mytheresa, Saks Fifth Avenue, Net-a-Porter and Bergdorf Goodman. Though the bags often sell out, the brands’ best customers are kept in the loop on new drops. The Row’s selective approach to distribution is reflected in its understated marketing. Its Instagram is more of a moodboard, with clothes posted between objects and art like a Marc du Plantier table lamp from the 1960s and Salvador Dalí's “Room with a Sofa.” Some rare, full-page ads solely feature just the brand name, with no products in sight. Shows feel like they’re created especially for buyers and press, said Hsu, not for viral social media moments.

“Creating scarcity is one thing they do really well … it makes it quite special when you discover something from The Row, it’s like an insider thing,” said Hsu.

As the brand increases the amount of bags it puts on the market, retailers have cut back on discounting, according to Edited. As of Feb. 1, just 1.9 percent of Margauxs available on sites analysed by Edited were discounted, compared to 5.7 percent in 2021. Searches on resale platform Vestiaire Collective were up 170 percent in January 2024 vs. December 2023. On The RealReal, the Margaux now resells for over 80 percent of its original retail price on average, up from 62 percent in 2019, Kelly McSweeney, senior merchandising manager told BoF in an email. Still, it’s a far cry from the Birkin, which can more than double in value on the secondary market.

Will the Margaux reach Birkin status? That remains to be seen — but The Row seems to be on the right track.

Donald Trump is marketing a self-branded $399 metallic gold high-top sneaker after being ordered by a New York judge to pay $364 million for lying about his wealth.

The “Never Surrender” sneakers, which have a bold-faced letter T on the side, sold out in less than a day after Trump’s appearance at Sneaker Con in Philadelphia on Saturday, according to the website. It said 1,000 pairs will be produced, with a limit to three per customer. At least 10 will be autographed by Trump, the website says.

Over his business career, Trump has seen several corporate bankruptcies, rough times in Atlantic City and dead-end brand journeys for Trump Steaks, Trump Vodka and an airline. “I’ve wanted to do this for a long time,” Trump said of the sneaker line. “I think it’s going to be a big success.”

Trump is the likely Republican opponent to President Joe Biden in the 2024 presidential election, polling in first place above former South Carolina Governor Nikki Haley.

The former president is facing mounting legal fees as he simultaneously campaigns across the country and defends himself in a series of court cases, which risk wiping out most, or all, of the billionaire’s cash on hand. He’s expected to appeal the ruling in a civil fraud case in New York handed down last week that ordered a hefty fine and barred Trump from operating any business in New York State for three years.

Upon Trump’s entrance to the stage at Sneaker Con, which calls itself “The Greatest Sneaker Show on Earth,” the crowd erupted in simultaneous boos and cheers.

The website also sells the “POTUS 45″ and “T-Red Wave” sneakers, both priced at $199. “Victory47″ cologne and perfume can be pre-ordered for $99.

Biden’s campaign took a jab at Trump’s new product.

“Donald Trump showing up to hawk bootleg Off-Whites is the closest he’ll get to any Air Force Ones ever again for the rest of his life,” Biden’s campaign communications director Michael Tyler said in a statement.

By Alicia Diaz

Learn more:

How Fashion Brands Can Survive the 2024 US Election Minefield

Few companies see an upside in wading into what’s shaping up to be a long, toxic campaign. But after years of socially conscious messaging they can’t fully disengage either.

The Body Shop’s fair trade suppliers who work with vulnerable people from the Amazon to Africa say they have been left with more than $1m worth of beauty ingredients that may now never be ordered or paid for by the ethical beauty chain.

The retailer, which called in administrators to its UK arm last week, has partnerships with 18 community fair trade partnerships around the world via its own scheme. Many of the relationships have been in place for more than 20 years.

Several told the Guardian they could be left with hundreds of thousands of dollars of stock – a figure that may not be large by corporate standards, but suppliers said it was very meaningful to families living on low incomes in often remote areas.

The Body Shop’s UK arm continues to trade as usual, administrators from the accounting firm FRP said, and creditors will be kept informed as the process moves forward.

However, any supplier debts will be lined up behind many other creditors – and orders could shrink if the stores are closed.

Aurelius, the restructuring specialist that bought Body Shop for £207m in a deal finalised last month, is understood to be the main creditor with a secured debt which will ensure it gets paid. It is expected to take back the chain, but only after many shops have closed.

The future of the group’s Irish, mainland European and Japanese divisions also hangs in the balance. The German business was put into insolvency last week.

Several community suppliers told the Guardian they had no written contract with The Body Shop, but had produced an agreed amount of product for the business for many years.

Gaston Vizcarra, president of Candela Peru – which has been providing Brazilian nut oil for The Body Shop since 1998 from nuts collected by 400 local families in the Amazon – said there was a $0.5m inventory of oil on hold for the retailer. “We don’t have any debt, but for more than two years we have manufactured this oil ready to go. There is no contract. It is based on trust.

“We usually sell a certain volume but The Body Shop has not been buying for at least a year. It has affected our capacity to work with producers and buy nuts from them.”

Most of the fair trade community projects do not supply The Body Shop directly. They sell their ingredients to intermediaries such as oil refiners or one of the group’s 20-plus cosmetics and beauty product manufacturers.

The producers are concerned that if manufacturers are not paid by administrators to The Body Shop, they in turn will not be paid.

“It’s a worry,” said the head of one community producer group based in Africa which works of thousands of individuals. “We are all affected, whatever the changes coming up. It is going to affect the whole supply chain.”

Mayk Arruda from CoppalJ, a Brazilian cooperative working with local communities that produces oil from the Babassu palm which grows in the Amazon, said it had just received an order for 30 tonnes of oil worth more than €300,000 and was concerned that it may not be paid.

“We work with 258 families directly and can impact more than 1,000,” he said. “If we are not paid, we are going to face a big problem. It is very important for us to generate a good quality of life.”

He said the higher price paid for the oil by The Body Shop had generated a “revolution in families’ lives” and there was a concern “that we will lose [that].”

Nick Hoskyns has supplied The Body Shop with sesame oil from the Juan Francisco Paz Silva cooperative in Nicaragua since 1993. The group works with 270 families. It has about $300,000 of sesame oil in stock that was produced without a contract.

“We have a relationship of trust and exclusivity of over 30 years which has been more than a contract. A break in trust has happened with Aurelius. There has been a sort of cultural bucket of water being poured over us.

“How can this happen to such an amazing company that has done so much?”

Some fair trade suppliers deal directly with The Body Shop and so may miss out on payments as they will be in line behind secured creditors, such as Aurelius, in the UK arm’s administration.

Milan Dev Bhattarai is the founder of Get Paper Industries in Nepal, which has been providing handmade recycled paper packaging to The Body Shop since 1989 via a partnership brokered by The Body Shop’s founder, Anita Roddick.

Dev Bhattarai said the company was not owed money but he added: “If there are closures of The Body Shop UK, not only more than 500 producers will have negative impact in their lives, but hundreds of girls will lose the opportunity for education, thousands of children will miss the opportunities for improved school. People of local communities will lose health support and many girls might be trafficked for difficult life. Tree plantation will be disturbed.”

By Sarah Butler

Learn more:

How The Body Shop Influenced Generations

Since the brand was founded in 1976, it has served as a gateway to adolescence for generations of young people.

Burberry and Gucci, which both show this week, have a lot to prove. Both labels have underperformed their peers for years and are betting on “brand elevation” strategies and designer resets to boost results. So far, they have provided case studies in how hard shifting consumer perception and pushing a brand upmarket can be, especially in a tough market where luxury demand has slowed.

At Burberry, it’s unclear whether the brand can command the price points that Daniel Lee’s looks require or whether the designer can adapt his vision to the label’s current reality. What’s more, while the brand has found some fresh, more elevated ways to tap into the “Britishness” of its DNA, much of what it has released recently has been too niche and complicated a take on what makes Britain desirable for most Burberry shoppers. Will the upcoming show click?

Meanwhile at Gucci, Sabato De Sarno’s palette-cleansing debut in September (an approach that was “mirrored” in his first men’s outing in January) helped put the brand back on the radar, but there wasn’t enough newness to generate the kind of heat the label needs to kick things back into gear. De Sarno’s collections have been precise, sexy and youthful, but have thus far failed to tell a story about what the new Gucci stands for. The designer needs to show he can do more than create desirable clothes. After the Alessandro Michele boom (and subsequent stagnation), what Gucci needs is a more stable but equally desirable brand story.

What Else to Watch for This Week

Sunday

BAFTA Awards held in London

London Fashion Week: JW Anderson, Supriya Lele, Connor Ives, Dilara Findikoglu

Monday

London Fashion Week: Burberry

Wednesday

Milan Fashion Week: Diesel, Fendi, Roberto Cavalli, Etro

OECD Forum on Due Diligence in the Garment and Footwear Sector

Thursday

Milan Fashion Week: Prada, Moschino (Adrian Appiolaza’s debut), Tom Ford

Friday

Milan Fashion Week: Tod’s (Matteo Tamburini’s first collection), Gucci, Marni, Versace

Renewcell reports full-year results

Saturday

Milan Fashion Week: Ferragamo, Dolce & Gabbana, Jil Sander, Bally, Bottega Veneta

The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to brian.baskin@businessoffashion.com.

Welcome back to Haul of Fame, the weekly beauty roundup of new products, new ideas, and one Elliot Page encounter.

Included in today’s issue: Dieux Skincare, Donna Karan, Elemis, Glossier, Hermès, Huda Beauty, It Cosmetics, Make Up for Ever, Morphe, Smashbox, Skylar and going to therapy (or not).

But first…

A few years ago, fashion started taking up more space. Simone Rocha and Molly Goddard inflated the humble circle skirt; Valentino and Cecilie Bahnsen made sleeves into statements; Luar and Saint Laurent jet-packed their power shoulders. The trend was an apt reaction to lockdown anxiety — “six feet apart” and all that — but now that shapes are slimming back down, hair is getting a literal boost.

In recent weeks, Beyoncé and Miley Cyrus have emerged with barrel curls and bouffants, and Janet Jackson and Becky G. have sported high-flying space buns. On the New York runways, Thom Browne and hair stylist James Pecis turned hair braids into menacing antlers while Sergio Hudson and Brandon Maxwell went for full ‘80s hair commercial vibes, with locks of hair that bounced as models walked. Even slicker hair stories, like the strict side parts at Tory Burch, came with extra-long plaits down the back.

It’s no coincidence — or at least it shouldn’t be — that these looks are converging with legal protection for all hairstyles. That’s thanks to The Crown Act, a national movement to ban race-based hair discrimination in the workplace that’s been passed in 23 states. In November, New York took it further, passing a law that all cosmetology schools must teach their students how to style “all hair types and textures, including, but not limited to, various curl or wave patterns, hair strand thicknesses, and volumes of hair.”

The market is already beginning to react. Spenders are flocking to Drybar, which sold out of its new hot roller set on Feb. 14. (Sephora still has a few, along with Amika’s curl-boosting Blowout Babe brush.) Nordstrom put Shark’s volumising hair tools on the very top of its homepage this week, above any clothes or accessories. And on Feb. 8, BondiBoost debuted the Infrared Bounce Brush to ensure “all-day volume.”

Why do we care? Because for anyone who’s been told their hair is “too much” by a stylist (or even a middle school classmate), this trend is more than a relief — it feels a bit like beauty justice. So does the visibility of bigger, bouncier hair on style icons like Lana del Rey and natural coils on starlets like Ice Spice. (Even Olivia Rodrigo’s once-goth strands had a nice big wave on the Grammy red carpet.) The fact is, when our hair is given breathing room, our psyches are, too — and maybe, just maybe, our beauty budgets loosen up as a result.

Product development teams, you’ve been warned.

What Else Is New?

Skincare

On Feb. 11, IT Cosmetics introduced its Bye Bye Redness serum, which is “clinically proven to reduce redness and improve clarity, skin texture, and tone evenness in just one week.” But you still have to drink your eight glasses of water a day.

Feb. 13 saw the launch of Rationale’s Décolletage creme, a neck-and-boob formula that further solidifies “body care” as the term of 2024.

On Feb. 14, John Legend’s skincare line LOVED01 (Get it? “Loved one?”) dropped at Amazon Beauty for the first time.

Congrats to Dieux Skincare, the beloved internet brand that landed on real-life Sephora shelves on Feb. 13! They celebrated with a big dinner and cake. Two days later, Elemis launched their own skincare line there. And on Feb. 16, Kate McLeod’s water-free Daily Stone moisturiser appeared for the first time in Sephora stores.

Cosmetics

Huda Beauty launched her new Creamy Obsessions eyeshadow palette the old fashioned way: She put it in every single gift bag at the LaQuan Smith show on Feb. 12. Let’s hope front row guests like actress Kiki Layne and dancer Misty Copeland enjoy it!

Also at New York Fashion Week, Jason Wu’s ombre manicures were a simple standout, thanks to nail artist Jin Soon Choi, who used a makeup sponge to dab a deep maroon shade onto the nail beds for an airbrushed effect.

Make Up For Ever launched their HD Skin setting powder on Feb. 10. It’s got the same skin-blurring qualities as a good primer, but in powder form.

Speaking of good primers, Smashbox’s Photo Finish primer has enlisted Pam Anderson as its new face. Anderson is also a co-owner of Sonsie Skin, but I appreciate the bombshell admitting, and celebrating, the fact that she still wears makeup, too.

On Feb. 13, Glossier premiered their Cloud Paint Bronzer, an extension of their creamy blush pigments meant for a buildable sunkissed glow.

The new glitter tubes from af94 that you’ve likely spotted at Sephora? They’re Swirl’d liquid marble eyeshadow, and they officially dropped Feb. 13. Elsewhere in the Gen Z space, Freck Beauty launched their Makeout Club Nude Muse lip liner on Feb. 14.

Morphe’s Lightform Extended Hydration foundation debuted Feb. 15. It claims to “improve skin barrier function at 12 hours and one week.” (I would like my foundation to just make me prettier, but sure, let’s multitask!)

Fragrance

Skylar turned their best-selling Boardwalk fragrance, which smells like cotton candy and coconut, into a hair and body mist on Feb. 8.

Meanwhile, Hermès dropped a new fragrance called Oud Alezan that was “motivated by [creative director] Christine Nagel’s desire to overcome her innate fear of horses.” Sniffing it will not make you less terrified of going full gallop, but its “petal-like” rose hydrosol and rose oxide will make you smell quietly perfect.

And in the zombie beauty space, Donna Karan’s Cashmere Collection fragrances have risen from the licensing dead, with very pretty new packaging. This is the same week that Donna Karan’s ready-to-wear collection has reemerged with a campaign starring classic supermodels like Amber Valetta and Liya Kebede.

And Finally...

Are we obsessed with protecting our skin barriers because we still haven’t mastered personal boundaries, and this feels like a baby step? Discuss.

Target said on Thursday it will offer some everyday essentials at prices starting less than a dollar as part of the retailer’s new private-label brand.

The move comes at a time when value-conscious customers are increasingly opting for cheaper private-label brands as cost-of-living pressures strain household budgets.

Prices of products such as apparel, cosmetics and electronic items that are housed under the private-label brand, known as dealworthy, will start from less than $1, with most under $10, Target said, adding that the goods will arrive in stores and on Target.com this month.

“We know that value is top of mind for consumers and dealworthy ... will not only appeal to our current guests but position us to attract even more new shoppers to Target,” Rick Gomez, Target’s executive vice president, said.

A Labor Department report on Wednesday showed US consumer prices rose more than expected in January amid a surge in the cost of rental housing.

Rival retailers such as Walmart and ecommerce giant Amazon.com also have low-price brands targeting customers looking for bargains on food and household items.

By Savyata Mishra; Editor: Shounak Dasgupta

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How Mini Beauty Became Big Business

Once seen as a last-minute impulse purchase, bite-sized products are becoming a main attraction for prestige brands and retailers looking to widen their customer base.