September Issues

For Coach, the biggest brand in the Tapestry portfolio, the show—a display of oversized leather blazers and pointy-toe jelly flats embossed all over with Cs, with J.Lo in the front row—is a customer acquisition cost.

Could they do it another way? Perhaps. But it’s part of the formula devised by creative director Stuart Vevers , who moved to the U.S... See more

Commercially, this season of Helmut Lang may sell better than it ever has for Fast Retailing. Walking out of the show, I asked a store owner if she planned on buying the collection, and she seemed keen on the blazers and jeans, which are reasonably priced. (Reasonable, in this case, means between $300 and $600.) And then, a shop-and-copy master (wh... See more

To understand Khaite, you’ve got to view it like a merchant. (I liked the pin-tucked gazar dresses; they reminded me of this Marc Jacobs look from his Spring 1998 collection.) Holstein is very much in touch with what women with money want to wear. When I saw Yael Aflalo , founder of Reformation—another Stripes investment, which turned out very well... See more

I used to get all huffy about Ralph Lauren shows because they don’t budge one bit forward. Maybe I’ve softened, but I not only don’t care about that any more, I don’t think they should. Lauren is really like Lagerfeld of America, and his ideas hold up. The revolution will come when it’s time.

Now, it’s Khaite’s turn. The Cate Holstein -designed label is now under the watch of Stripes, one of the few investment firms that regularly takes bets on fashion. Backstage at that show, I asked Holstein how the money has empowered her: I expected her to mention supply chain upgrades or more freedom with show budgets. (The Park Avenue Armory stagi... See more

What really works in American fashion is consistency. I’m usually pretty bored by Ulla Johnson ’s shows, but on Sunday morning I couldn’t help feeling dazzled by her three-dimensional florals and dizzying zig-zag knits. (Made me think she’d be a great designer for Missoni, but that brand needs help, and she’s too smart to take on some impossible po... See more

It’s interesting to see who likes Khaite in fashion circles and who doesn’t.Many fashion journalists and editors feel a distance from it. I asked a friend if he had any inkling as to why. He said, They hate success. (Another guess: they don’t understand money.)

One person recently likened LVMH to me as a private equity firm with 40 percent carry rather than 20 percent carry. Not a bad deal.