Like any other group of chronically online young people, employees of Ssense have strong opinions about the proper length of socks.

According to the memes, Millennials cannot resist stubbornly defending their no-show socks against an onslaught of mockery from Gen-Z, who prefer longer socks. But at the fashion-forward retailer, employees of both generations agreed that socks that hit the ankle or higher are indeed superior.

Rather than come down publicly on the side of crew socks, however, Ssense saw an opportunity in the controversy itself, said Steff Yotka, head of digital content for the online retailer. On Instagram, the online retailer posed the question, “What is the correct sock length?” accompanied by different styles as seen on its website, from no-show socks paired with Bode shorts to high socks complementing Willy Chavarria khaki shorts.

The post garnered over 300 comments, more than the previous seven posts combined.

“We want to find opportunities to ask our audience what they’re interested in and showcase the breadth of Ssense rather than thinking of it as either-or marketing,” said Yotka.

As Gen-Zers hit their mid-20s, the style gap between that generation and their slightly older peers is rapidly widening. The battle over skinny jeans — a Millennial mainstay — is largely over, with baggy fits now the norm. But fighting still rages over high-waisted bottoms versus low waist, a Y2K trend embraced mostly by those too young to have watched Paris Hilton on TV. Plenty of Millennials are still holding onto floral prints, ankle boots and contouring makeup, eliciting gentle ridicule from their younger siblings and colleagues.

For brands and retailers hoping to serve customers both over and under the age of 25, the viral Gen-Z versus Millennial divide presents a conundrum: How to join the latest trends without alienating older, more conservative shoppers? While Gen-Z may be inventing new styles, it’s Millennials who still hold the spending power. The average American shopper between ages 35 and 44 spent $2,632 on apparel in 2022, according to the US Bureau of Labor Statistics, more than double the cohort under 25.

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Focusing too much on age can be a trap, marketers told BoF. The hyper-speed of the fashion cycle today means trends can come and go overnight, and that there is no longer a dominant definition of what “fashionable” looks like at any given moment. This means consumers of all ages can be exposed to any of the countless trends and fads on the internet.

Brands should not plan their assortment around how many of their customers are fashion-forward Zoomers and how many are risk-averse Millennials, trend analysts said. Instead, the key is to make products accessible to everyone through merchandising and a targeted marketing strategy.

“It’s restrictive to think of age demographics as defining [customer behaviour],” said Katy Lubin, vice president of brand and communications at Lyst, a fashion search platform. “Personal style is evolving so fast and how people choose to present themselves changes all the time.”

It’s a Gen-Z World

Given the undeniable spending prowess of Millennials today, Millennial preferences define the most popular styles on the market right now. But Gen-Z is well on its way to shaping the future.

For instance, while Millennial-approved high-waist jeans continue to be the most popular rise among retailers, accounting for 29 percent of all styles, the selection of low-rise jeans is increasing 30 percent year-on-year while the number of new high-rise options hitting the market has actually dipped 1 percent in the same period, according to market analysis data from EDITED, a retail intelligence firm.

Similarly, the Gen-Z fuelled resurgence of Y2K has brought capri pants and bubble skirts back into style, with an increase of 178 percent and 247 percent respectively in new styles year-over-year, EDITED found.

For Millennials, capri pants and bubble skirts are a blast from the past — and may bring back memories of their awkward adolescence. But this playful dynamic can become part of the conversation between a brand and its customers.

“Our brand voice is witty and funny, like we’ve communicated to customers in the past, ‘If you’re ready to say goodbye to your skinny jeans, here’s an assortment of baggy jeans,’” said Sky Pollard, head of product at Nuuly, a womenswear rental platform operated by Urban Outfitters, Inc. “We want people to rent whatever makes them comfortable.”

The majority of Nuuly subscribers are under 35, which spans older Gen-Z to younger Millennial. Like Ssense, Nuuly does not address the generational differences among its customers, instead highlighting their shared traits.

“In general, our customer is open to trying new things, and that’s part of their personality,” Pollard said.

Still, Nuuly is conscious that some trendy wares are more palatable than others. Its goal is to make new styles accessible to everyone, including less adventurous customers. Particularly edgy pieces, like a basketball jersey, for example, will often be featured in editorial campaigns that live on the website to serve inspiration.

When former wardrobe staples come back into play — Miu Miu’s Autumn/Winter 2024 collection features low-rise skinny jeans, for instance — Nuuly will reshoot product pages so these pieces can be shown in a more relevant context: skinny jeans styled with knee-high boots rather than ankle boots.

Showing Up for All Generations

The matter of age and correlating behaviour may be more relevant to how a consumer shops rather than what they buy.

For instance, beauty brand Glossier found its first set of customers a decade ago in coming-of-age Millennials who embraced the direct-to-consumer model that was disrupting the retail landscape at that time. Today, its younger Gen Z and Gen Alpha shoppers are discovering the brand through TikTok and Sephora, which began stocking Glossier last year.

“The biggest difference is how and where they encounter the brand,” Glossier CEO Kyle Leahy told BoF in an email. “When we launched into all North American Sephora doors last year, we opened the brand up to an entire new generation of shoppers and that has really helped catapult Glossier into the consciousness of younger generations.”

MeUndies too has found that a multifaceted approach to marketing is critical for reaching different segments of shoppers. For Gen-Z shoppers, the most effective channel is, unsurprisingly, TikTok, according to chief revenue officer Ariel Stoddard. For Millennials, meanwhile, the best channel is advertising in podcasts.

Ultimately, the savviest fashion companies recognise that the jabs between Millennials and Gen-Z over their respective fashion sensibilities are all in good fun.

“My Gen-Z intern cooks me daily,” said Ty Johnson, a 32-year-old DJ and marketing strategist based in Brooklyn. “What I find cool, she finds cringe and vice versa I guess. But I’m not going to start wearing Ed Hardy to try to give off a Gen-Z vibe.”

Prada SpA is renting a 8,000-square-foot store in K11 Musea, a harbourfront luxury shopping mall by New World Development Co., people familiar with the matter said.

Construction work for the two-floor store will begin soon and it’s expected to open early next year, said the people, who asked not to be identified discussing private matters. Rent is likely to be partly based on store sales, some of the people said.

This will be Prada’s first major new store in Hong Kong in years. The group shut its flagship in Causeway Bay in 2020, ending one of the city’s most expensive retail leases with a monthly rent of HK$9 million ($1.2 million). The brand, which at its peak had nine outlets in the city, now operates six, according to its website.

Prada’s communications team in Italy didn’t respond to emailed requests for comment outside of regular business hours. New World, controlled by the family of billionaire Henry Cheng, declined to comment.

Global luxury brands are increasingly returning to Hong Kong’s core business districts, attracted by property prices that are much lower than pre-pandemic levels. In Tsim Sha Tsui, where Musea is located, average rent for stores at major shopping streets is still 45 percent below the 2019 level, according to studies by Cushman & Wakefield Plc.

The city’s high-end shopping malls have accelerated a luxury push to add appeal to the moneyed classes, whose spending remains strong despite years of social unrest and a slowing economy. New World, led by Chief Executive Officer Adrian Cheng, teamed up with Louis Vuitton to host the brand’s first ever fashion show in Hong Kong last year, with the event staged just outside Musea.

Hong Kong’s wealthy residents have provided some stability for global brands against a sales slump in their key market of mainland China. The shopping hub also remains one of the most popular destinations for mainland tourists.

Hongkong Land Holdings Ltd. and tenants including Hermes International SCA  and Louis Vuitton will invest $1 billion to upgrade the developer’s flagship retail space Landmark in Central. Hysan Development Co. is also revamping its Lee Gardens, a group of luxury malls in Causeway Bay, with tenants including Hermes and Chanel expanding their stores.

By Shawna Kwan and Shirley Zhao.

Learn more:

Hong Kong Loses Top Ranking for Luxury Shopping to New York

Covid curbs and restrictions took a heavy toll on the city’s high-end retail sector.

Fashion’s first big Olympics moment came days before Friday’s opening ceremonies, when athletes from around the world took to TikTok to show off the impressive hauls they’d been gifted by Nike, Ralph Lauren, Skims and others. Those early viral videos boded well for brands that are banking on grabbing the spotlight for a moment – or a few moments – over the next two weeks.

Friday’s opening ceremony featured literal boatloads of athletes decked out in uniforms often designed by brands and designers hoping to boost their global profile by outfitting their home team. While the rain sometimes made it hard to see the work of Ralph Lauren, Armani and others, postings by athletes and designers on social media helped fill the gap. At the opening ceremony, Christian Dior haute couture costumed all five featured performers, including Celine Dion in her long-awaited return to the stage.

Now that the suitcases full of branded gear are unpacked, and the medal events themselves have kicked off, brands are more at the mercy of the skill and luck of the athletes they sponsored. This week might belong to Athleta, the “dry land” apparel partner of Katie Ledecky, who will swim in five events, as well as gymnastics superstar Simone Biles, who is favoured to take home gold in the woman’s all-around final on Thursday. The Gap Inc.-owned activewear brand, which reported a 5 percent year-on-year increase in comparable sales in the first quarter after a period of decline, recently launched its first television ad campaign to hype its high-profile partnerships.

Back-to-School Blues

Is your brand getting ready to ramp up marketing for back-to-school season? Too bad, you missed it.

According to Deloitte, parents planned to spend 66 percent of their back-to-school budget by the end of July, up from 48 percent in the same survey five years ago. Amazon is driving the shift, as its Prime Day sale on July 16 and 17 drew bargain-hunting parents. This year, the savings event came a bit later in the month, likely magnifying its impact on school shopping (Deloitte found 48 percent planned to purchase school supplies on Prime Day, up from 39 percent in 2023, when the sale fell on July 11 and 12).

Expectations are low for the category this year, with Deloitte predicting US back-to-school sales will hold steady at about $31 billion. Sluggish spending on supplies and kids’ clothes this summer will add to mounting evidence that consumers, after spending their way through two years of high inflation, are looking for ways to cut back. Surveys by Deloitte and UBS both found parents planned to spend slightly less on their childrens’ school supplies this year, with apparel sales projected to be flat. Higher prices were the most frequently cited reason for pulling back.

Retailers are responding with deeper discounts. Amazon lowered apparel prices by an average 20 percent over Prime Day, compared to 12 percent last year. That is likely to set the tone for the rest of the back-to-school shopping season, with parents holding out for similar deals as the start of the academic year approaches.

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

PARIS — After years of preparations including the rollout of an unprecedented security perimeter that deadlocked Paris’ city centre, hearts sank across the city Friday morning: It was raining. With so many things that could go wrong at the Paris 2024 Games’ ambitious opening ceremony on the Seine River, rain had not been top of mind.

But the history-making show went on despite intermittent downpours — setting a new high water mark for Olympics openers with an immersive celebration of Paris landmarks and star-studded performances. The spectacle directed by Thomas Jolly romped through French history and culture with a delicate mix of sincere hommage and cheeky deconstruction.

Amid the awe-inspiring scale of the event — which was streamed live on television by 22 million people in France alone — “Who is she wearing?” may not have been top of mind as Lady Gaga, Aya Nakamura, Juliette Armanet, Celine Dion and opera singer Axelle Saint-Cirel each sang at a roster of Paris landmarks.

The answer, however, was Christian Dior haute couture, who provided the costumes for the five of the night’s main performances as part of a major sponsorship deal between owner LVMH and the Paris Olympics.

Dior Costumier

Designer Maria Grazia Chiuri and her teams created a spectacular feather show-girl gown with removable skirt for Gaga’s joyous rendition of a French cabaret classic, “Mon Truc en Plumes” by Zizi Jeanmaire.

Nakamura sang a medley of her own hits and Charles Aznavour’s “For Me Formidable” in a body-sculpting, one-shouldered Dior mini-dress made of gold feathers, while mezzo-soprano Saint-Cirel was dressed up as the French flag in a campy twist on Marianne: she wore a white and red gown, while brandishing a gigantic blue flag.

Armanet sang on a whirling boat, backdropped by a flaming piano, in a look Dior collaborated on with the artist Clara Daguin, whose light-up embroideries flashed to the beat of the song.

The emotional peak of the night came when Céline Dion — who hadn’t performed for four years while battling a neurological condition — returned to the stage singing Edith Piaf’s “Hymne à L’Amour” in a glimmering Dior gown embroidered with thousands of pearls and over 500 metres of fringe.

Dior said the looks would be displayed at its Avenue Montaigne Museum from next week.

Louis Vuitton

Dior wasn’t the only LVMH brand to seize the Olympics spotlight Friday.

Louis Vuitton, the world’s biggest luxury brand, more or less got its own number early in the show, as dancers whirled around on the Pont Neuf and banks of the Seine pushing its signature monogrammed steamer trunks on trolleys. The number culminated in a poetic dance by Guillaume Diop, Paris Opera Ballet’s first-ever black danseur étoile, who wore Louis Vuitton by Pharell Williams.

In a pre-recorded segment, a masked torch bearer parkoured over the Paris roofs and into the brand’s headquarters, where its signature trunks — which are being used to house medals and the Olympic torch — were being confected.

National Teams

The walk-out of each national team in their Opening Ceremony ensemble is usually the fashion highlight of the night. This year, that wasn’t always the case as the delegations’ arrival by boat on the Seine was at times blurred by rain, or hard to focus on amid the landmark-studded backdrop and simultaneous performances.

Luckily for brands, social media has created opportunities to extend the impact of Olympics partnerships, as athletes and designers post about the process for design, fittings and more. Team France’s partnership with Berluti (once again, LVMH) went viral earlier this week as the brand shared a video of smouldering male hurdler Sasha Zhoya at his fitting opting to wear a skirt for the ceremony. Team Mongolia’s badass embroidered deels were another viral success. Team USA looked preppy and gorgeous as ever in Ralph Lauren blazers, while the Italians found themselves looking weather-appropriate (if not very telegenic) in neoprene hoodies from Emporio Armani.

Young Creators On The ‘Catwalk’

Several young Paris labels contributed designs for the spectacle, whose costumes were coordinated by Daphné Bürki. In one number, dancers hoisted up on poles wore costumes by Charles de Vilmorin.

Toward’s the end of the ceremony, a Joan of Arc-like rider cantered down the Seine on a robotic horse to the Eiffel Tower, delivering the Olympic flag while wearing a suit of leathery metallic armour created by emerging Paris designer Jeanne Friot.

The biggest tribute to French fashion at the opening ceremony came in a boisterous number staged on the Passerelle Debilly bridge, where a mock runway show blended ür-serious catwalk strutting with passages celebrating various styles of dance: krumping, vogueing, waacking, ballet. Drag queens and dancers stormed the runway in looks from young Paris labels — Ouest Paris, Weinsanto, Maitrepierre and Germanier.

Paris Opera Ballet’s Germain Louvet pirouetted and leaped down the runway through puddles, flanked by figures from Paris’ queer culture including Drag Race host Nicky Doll and the DJ and activist Barbara Butch.

The sequence was masterful, inclusive, funny and fresh: modern Paris at its best.

Bernard Arnault confirmed he bought a small stake in Cartier owner Richemont, as the chief executive officer of rival luxury conglomerate LVMH seeks to cool speculation about his intentions.

“I know well the owner, Mr Johann Rupert, of Richemont,” Arnault said in an interview on CNBC broadcast Friday. “And we have a good relationship and I told him that I will never do anything against him. That’s clear.”

It’s “a very minor stake,” Arnault said, confirming a report last month by Bloomberg Businessweek that he had invested as part of a broader family-owned portfolio of investments in publicly-listed companies.

News of the shareholding triggered questions around his intentions for the investment. Richemont has a strong defense against unwanted suitors because Rupert, its chairman, controls 51 percent of the voting rights despite owning only 10.2 percent of the capital. Over the past few years, 74-year-old Rupert has emphasised his desire to keep the group independent.

“He’s done something fantastic with Richemont, with Cartier, with Van Cleef and I think he’s independent, he wants to stay independent and I agree completely on that,” Arnault said.

LVMH owns jewellery brands including Tiffany & Co. as well as Bulgari, meaning a takeover of Richemont would likely attract antitrust scrutiny. LVMH’s fashion brands Louis Vuitton and Christian Dior Couture have jewellery lines, too.

Earlier this week, LVMH Moët Hennessy Louis Vuitton SE posted second-quarter results that missed estimates amid a demand slowdown for high-end goods, particularly in the key Chinese market. Arnault is the world’s third wealthiest individual, with a fortune estimated at around $185 billion, according to the Bloomberg Billionaires Index.

By Angelina Rascouet

Learn more:

Op-Ed | Could LVMH Buy Richemont?

Acquiring Richemont would catapult LVMH into a completely different stratosphere to the rest of the luxury industry, writes Andrea Felsted.

Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.

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Subscribe to the BoF Podcast here.

Background

Sport and fashion have always been a part of Stéphane Ashpool’s life: He was raised watching his artistic parents socialise with designers like Claude Montana in Paris, while simultaneously falling in love with basketball watching the LA Lakers on TV. He followed both of these passions into adulthood, eventually launching streetwear brand Pigalle in 2008 and going on to collaborate with brands like Nike.

“I have as much curiosity for couture as I have for sport kit,” said Ashpool. “I knew I wanted to kind of blend those things spontaneously. I had no clue what it was going to bring me but that’s why I started to put things together.”

This week on The BoF Podcast, Ashpool joins BoF founder and editor-in-chief Imran Amed to share his journey with clothing brand Pigalle and how his unconventional path into fashion led him to designing the French national team’s Olympic uniforms.

Key Insights

• Raised in the Parisian suburbs with his dancer mother and artist father, Ashpool was deeply rooted in the worlds of sport and fashion from a young age. “I had this charming home, and when I went in the streets, I had this more masculine type of vibe. And that was related to the sport I love the most, which is basketball,” he says. “My mother and her friends were dancers, so I’ve been surrounded by a lot of the gay community, people coming from all over the globe, eccentricity, people that really embrace style.”
• Established in 2008, Ashpool’s brand Pigalle was named for the Parisian neighbourhood he grew up in and born with the district’s multi-dimensional spirit in mind. “I didn’t exactly know what I was doing, but what I did know was the best of both worlds. I like to blend, so I have as much curiosity for couture as I have for sports kits,” he shares. “[At the start] we didn’t know how to handle things, to organise ourselves, but the fire was burning. It was really exciting to enter a lane that no one really did before.”
• When Ashpool was approached by Le Coq Sportif to design the uniforms for the French Olympic team, it came with new challenges and constraints, but Ashpool relished this learning experience. “I really embraced it because even though they put you in a frame, if you managed to break the frame even a little bit, you always got more than what they gave you. I made sure I was pushing the boundaries.”
• For young creatives, Ashpool’s advice is simple. “Dream big, but manage your expectations. Create your own lanes, be inspired, but don’t let yourself be someone else. If you start something, you need to finish it. Don’t teach yourself to not finish something. Otherwise, it’s going to enter your DNA,” he warns. “Be nice to people. It works. Be yourself. It works. Be patient. It works.”

Additional resources