The Power of the Purse

Today WWD has an article about the rising clout of accessories designers. It points out what most already know; that the sales now driving luxury lab
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Today WWD has an article about the rising clout of accessories designers. It points out what most already know; that the sales now driving luxury lab
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Today WWD has an article about the rising clout of accessories designers. It points out what most already know; that the sales now driving luxury labels are from shoes and bags, not coats and dresses. Just look at Gucci: even though Frida Giannini's clothes have been panned by some critics, the house's profits are bigger than ever. It's her shoes and bags that are selling--which makes sense, given that she started off as the house's accessories designer. Though Frida's current position as creative director is regarded as more prestigious, salaries for accessories designer are now on par with ready to wear designers (at about $560,000 and up). We were very struck by this remark to WWD by Pierre-Yves Roussel, chairman and CEO of the LVMH fashion division: "We are keeping ready-to-wear, but almost as an accessory." It may sound silly, but it rings true in fashion right now. Many style guides tell you to invest in a "good bag and good shoes" and save money on clothes. And we know that lots of women save up for a Chanel 2.55 bag, but hear of few saving up for a Chanel suit. Are you investing more --both financially and emotionally-- in your accessories? --ANNA FIELDING GRIGGS