The Business of Fashion Podcast

Fashion narrator Lyas is one of the most compelling and authentic fashion communicators to have arrived on the scene, and whose takes on fashion shows and editorials are incisive, honest and well-informed.  

“I think we’ve lost the mindset of thinking that it’s possible to be creative and make money for the company, because the golden age of designers is over,” he says. “Now, every designer is disposable. It’s like musical chairs—every month, there’s someone leaving, someone coming.”

Lyas’s journey has been shaped by his belief in the emotional power of storytelling, which he sees as central to fashion communication. Using  TikTok and Instagram  to communicate his thoughts and opinions, his fashion roulette videos and witty runway dissections have captured the attention of hundreds of thousands of viewers. Recently, he has bemoaned the dilution of creativity across the fashion industry.

Key Insights: 

• Growing up in France and studying drama, Lyas was first drawn to the visual world filmmaking. Frustrated by the rigid criteria of the film industry, Lyas found freedom in fashion, where he could create personas and critique without fitting into predefined moulds. He connected with fashion insiders at parties, building his presence through social media and discovering a space that allowed his voice and persona to thrive. "I didn't find the sense of belonging in that cinema crowd, so I started going out with fashion people,” he said. “It became this way of creating this superstar persona at night and I fell in love with that."

• Lyas quickly noticed the gap between private opinions and public silence in the fashion world. He began voicing unfiltered critiques, challenging the industry's hypocrisy. This unapologetic stance led to temporary blacklists but also opened doors, proving the value of staying true to his voice. “I started just saying it like it is on my TikTok... the first Sabato de Sarno I really didn't like, and I think most of the industry did not like it, but no one wanted to say it, so I took the bullet."

• Lyas is critical of the corporatization of fashion, where creativity is often sidelined for profit. "We've lost the mindset of thinking that it's possible to be creative and make money for the company, " he said. “The golden age of designers is over. Now any designer is disposable. We've seen it, it’s like musical chairs."

• On advice, Lyas keeps it simple. “Have no fear. But it's very easy to say, but I think fear is the biggest issue for anyone's confidence. … Just be fearless and if you're scared of doing it, do it.”

Additional Resources:

• Commercialising the Zeitgeist: Crafting a Successful TikTok Strategy | BoF
• Why Brands Are Inviting Customers on Influencer Trips | BoF 
• Finding Fashion Consumers Beyond Instagram | BoF 

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Nike’s streak as the undisputed leader in the activewear category spans generations, but the brand is facing its most significant hurdles in decades. However, recent shifts in leadership, oversupply issues and a botched direct-to-consumer strategy have chipped away at its once-untouchable brand image. As challengers like Hoka and On gain ground, and archrival Adidas surges, Nike faces mounting pressure to innovate and reconnect with consumers. 

“Nike remains a behemoth, … but all is not well,” says Miller. “The brand is on course for its worst financial performance in over a quarter of a century, and unfortunately for Nike, trouble is happening everywhere, all over the brand.”

This week on The Debrief, BoF executive editor Brian Baskin and senior correspondent Sheena Butler-Young sit down with sports correspondent Daniel-Yaw Miller to explore how Nike fell off track and the strategic moves it’s making to reclaim its market dominance.

Key insights

• Nike’s reliance on retro sneaker lines like Air Force 1 and Dunks is driving consumer fatigue, as these once-coveted styles now languish on shelves. “At one point not so long ago, they were like gold dust,” says Miller. “But now they’re sitting on shelves for months and sometimes being discounted.” This overabundance is diluting the brand’s appeal and paving the way for smaller, more agile competitors to capture the spotlight.

• Despite substantial investment in R&D, Nike’s innovation efforts have faltered, allowing rivals to define the next wave of sneaker trends, like performance sport styles and technology-driven designs. “Nike didn’t really have any new products to turn to and point consumers towards,” says Miller. Brands like On and Hoka have gained traction with innovations such as On’s CloudTec Technology and Hoka’s MetaRocker running silhouette.

• The “Winning Isn’t For Everyone” campaign marks a return to Nike’s swaggering marketing playbook of the 90s and 2000s, and a potential early sign of the brand’s resurgence. “It wasn’t just one simple video; it was meant to communicate a new brand ethos,” Miller explains. “This Nike campaign needed to be divisive. Consumers are looking for brands that have a point of view, and that’s what Nike is trying to bring back.”

Additional resources

• How Nike Ran Off Course
• Inside Nike’s Big Marketing Vibe Shift
• The Rise of Sportswear’s Challenger Brands, in Four Charts
• The Debate Over Nike’s CEO Bursts Into the Open | BoF

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As the first female, Black, and South Asian Vice President of the United States, Kamala Harris’s every move is closely watched — from her policy decisions to her wardrobe. With Harris now leading the Democratic ticket in the 2024 presidential election, her style and beauty choices — from her for her sleek silk press hairstyle to her endless variety of pantsuits — have sparked renewed discussion. 

“She is communicating something, even if it's not remarkable,” said BoF senior correspondent Sheena Butler-Young. “No one truly opts out of signalling something with how they present themselves.”

This week on The Debrief, BoF executive editor Brian Baskin sat down with Butler-Young and editorial apprentice Yola Mzizi to explore how Harris’s beauty and fashion choices are being interpreted by different audiences across the political spectrum, and what that means for the future of political style. 

Key Insights:

• Harris’s signature silk-pressed hairstyle has deep roots. “It's a centuries old way of straightening hair, and it's been around for generations upon generations. Most people associate it with just the hair that they have to have for Easter Sunday, or the style that the grandmothers would have,” Mzizi explains. Despite the history, Black Gen-Z voters have embraced the style, calling it the presidential silk press. “It's a way to support her candidacy in a fun way,” said Mzizi. 

• Harris’ wardrobe choices are being closely scrutinised, which has led her to more streamlined, straightforward ensembles. “The pantsuits, specifically the colour schemes — black, grey, navy blue, or just blues, with an occasional pastel, a pump as the shoe, or occasional Converse and pearls — are very much in line with how politicians dress,” said Butler-Young. Meanwhile, male politicians, like Harris’s vice-presidential nominee, Minnesota Governor Tim Walz, have more freedom to experiment. “You look at her running mate Tim Walz, and his ability to sort of play around with style with those well-worn red wing boots, the camouflage hats, rather than being distracting, they actually endear some voters to him. … Kamala, for all intents and purposes, doesn't seem to have the licence to do that.” 

• The 2024 election has highlighted the growing role of fashion and beauty in politics. Black-owned beauty brand BLK/OPL was centre stage at the DNC providing makeup services as the event’s first beauty sponsor. “Harris's candidacy is opening up new avenues for different kinds of brands to have their say in this larger conversation,” Mzizi notes.

• Should Harris win the presidency, she could use her platform to further influence the intersection of fashion and politics. Harris has already hinted at this with her past choices by wearing Black designers like Christopher John Rogers and Sergio Hudson. “She'll have more leeway to [support minority designers] when she's empowered. Right now, I think she's constrained … by this idea of having to cater to this broad, collective public palette.”

Additional resources

• How Kamala Harris’ Signature Tresses Became a Gen-Z Hit | BoF 
• Why Kamala Harris Isn’t Making Bold Fashion Choices – Yet | BoF

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2024 has brought forth the arrival of the “Sephora tweens,” which refers to members of Gen Alpha (roughly defined as those born between 2010 and 2024) who have enthusiastically taken to buying up skincare and makeup. This phenomenon, driven largely by beauty-related chatter on social media, has resulted in a new wave of brands catering specifically to this younger demographic.

“There are now teen brands, tween brands, 20-something brands, 30-something brands. … I think we can thank the DTC movement and everything that happened from 2014 on for this kind of innovation,” Rao says. “There's been a total disruption in beauty overall with challenger brands like Glossier that have come and really taken market share away from the big conglomerates and companies … that have been household names for a really long time.”

This week on The BoF Podcast, senior correspondent Sheena Butler-Young and executive editor Brian Baskin sat down with Priya Rao, executive editor at The Business of Beauty at BoF, to delve into how tweens have taken over the beauty aisle and what this means for the future of the industry.

Key Insights 

• Kids have long experimented with beauty products, but today, they’re starting earlier and earlier. "If you look at social media today, it's not just 10-year-olds or 11-year-olds. There are 5- and 6-year-olds putting on makeup and trying different lipsticks and lip glosses," shared Rao. This early engagement with beauty is not just a passing trend, but is becoming a norm, fueled by the accessibility of products to try in stores like Sephora and the influence of social media platforms like TikTok.

• Another driving force behind this trend is the rise of celebrity-led beauty brands that resonate with young people. For example, Rare Beauty, founded by Selena Gomez, not only offers products but also promotes mental health awareness. "Tweens and teens can identify with these brands not just because of the products, but because of what they stand for," explained Rao.

• The proliferation of skincare products has also led to some confusion and concern, with tweens using products like retinol that are meant for an older demographic. Brands and influencers play a crucial role in teaching young consumers what’s right for their skin. "Fear is not the way to lead here. It's about education first," advised Rao. Brands must strike a balance between engaging young consumers without overwhelming them with too many steps or products.

• As the beauty industry continues to evolve, brands that wish to stay ahead will need to be responsive to the needs of Gen-Z and Gen Alpha consumers. "Smart companies have to be agile and constantly communicate with their customers," noted Rao. This means reflecting the diverse experiences of young consumers back to them, whether through representation in ad campaigns or through the products themselves.

Additional resources 

• How Tweens Took Over the Beauty Aisle | BoF
• How Should We Feel About Tweens at Sephora? | BoF
• Tweens Obsessed With Skin Care Drive Brands to Say: Don’t Buy Our Stuff

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Many of fashion’s largest manufacturing hubs, particularly in South and Southeast Asia, are increasingly at risk of dangerous, record-breaking heatwaves. As extreme heat becomes more frequent, more intense and longer-lasting, what is the cost to industry and how will we adapt to the growing climate risks?

Senior correspondent, Sheena Butler-Young and executive editor, Brian Baskin sat down with BoF sustainability correspondent Sarah Kent to understand what rising global temperatures means for the future of garment production.

“We have to assume that it’s the new norm and or at least a new baseline. It’s not like every year will necessarily be as bad, but consistently over time, the expectation is things are going to get hotter for longer,” says Kent. “We both have to take steps to mitigate and prevent things getting worse, and we have to accept that we have not done enough to stop things getting this bad - and so we have to adapt as well.”

Key Insights:

• Extreme heat leads to productivity problems, including increased instances of illness and malfunctioning machinery — even air conditioning units. The reason this isn’t surfacing as a significant supply chain issue is that it occurs in short, sharp bursts. “The supply chain is flexible enough and sophisticated enough that it can be papered over for the moment, particularly at a time when demand is not at its peak,” shared Kent. “Not all factories are working at full capacity all the time, so if your productivity isn’t 100% you can manage that for a few days or a week.”

• When it comes to working conditions in garment factories, climate also tends to take a backseat, both for manufacturers and, often, the workers themselves. “The biggest issue for a worker is going to be okay, I’m not earning enough to feed my family, my job isn’t secure, and then it’s really hot and that’s making it worse,” Kent recalled hearing from union representatives in Bangladesh.

• Whilst brands understand the interconnectivity between their emissions and supply chain issues, the drive to produce what consumers want as swiftly and cheaply as possible doesn’t leave much room for manufacturers to prioritise investments to improve their environmental footprint or adapt their factories to be more resilient to climate extremes. “We’re going to need to raise the prices in order to do that. That becomes a very tricky conversation very quickly,” says Sarah. “The disconnect is between the delightful picture of peace, love, Kumbaya, green planet that the industry would like to suggest that it is gunning for, whilst at the same time paying prices that in no way support that.”

Additional Resources:

• Why Hotter Weather Matters for Fashion | BoF
• What Happens When It’s Too Hot to Make Fashion? | BoF. 
• Too Hot to Handle? | BoF

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Creative directors and brand strategists Juan Costa Paz and Nordine Benotmane, who founded Paris-based creative agency Convoy in 2012, are paid to think outside the box for clients from Nike  to Louis Vuitton. 

“We care about having conversations outside of the fashion echo chamber,” said Costa Paz. “I like to create tension, even if people don't like things, because I do think that it's good to try to create the conversation,” added Benotmane. 

This week on The BoF Podcast, Costa Paz and Benotmane join BoF founder and editor-in-chief Imran Amed to discuss how they do it and their paths to fashion.

Key insights:

• Convoy’s Costa Paz and Benotmane came to fashion from the worlds of music and cinema, respectively, and that’s a good thing. “The fact that both Nordine and I come from different spaces, we don't tend to abide by the rules of what makes a fashion moment,” said Costa Paz. “We're a little bit kamikaze in the way that we try to not think as the brand wants us to think,” added Benotmane.

• Over the years, Convoy has produced content around fashion shows for brands like Miu Miu, Vuitton and Balmain. Describing these moments as, “like going to war”, Paz Costa believes there is an element of both care and challenge that is required when realising ambitious ideas with clients. “Sometimes you just need to hold hands with your clients and jump together into the void. I think that we usually land very well when there is communication and transparency.”

• Convoy also leads creative direction for Condé Nast’s Vogue World, which kicked off Paris Couture Week with a pre-Olympics sports-themed extravaganza. “This is a new way of seeing media,” said Benotmane. At the same time, he recognises there is always still space to explore. “Maybe this is a new way of doing the media, but we could have told stories of the athletes, the way they prepare for the competition, their relationship to fashion, a lot of things that we maybe didn't manage to do this time because it's still a new project and it's very ambitious.” 

• Offering advice for up-and-coming creatives, Benotmane said: “Don't be scared, do it your own way.” Added Costa Paz: “Being a little bit punk also doesn't hurt.”

Additional resources 

• Vogue Names Juan Costa Paz as Global Creative Director | BoF
• ‘Vogue World’ Takes on Paris — and Sports | BoF
• Vogue World to Kick Off Couture Week With Olympics Tribute | BoF

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Willy Chavarria has become a force in American fashion, known for his Chicano-inspired take on menswear. Last year, Willy broke through, winning the CFDA award for Menswear Designer of the Year. For more than two decades before that, Willy worked behind-the scenes in major American fashion companies like Ralph Lauren, American Eagle and Calvin Klein.

But now, he is focused on building his own business. At the centre of his designs is a focus on community and equality: 

“I sat with my team before we actually started the Willy Chavarria label and I said that this is how we're going to move forward with this brand. Everything that we do is going to be aimed to raise people up and to make people feel good and to celebrate human dignity,” he said. “That will be the foundation of the brand.”

This week on The BoF Podcast, Willy joins me to discuss his journey from the San Joaquin Valley into the fashion big-time in New York City, his commitment to social justice, and how the American fashion industry is evolving today.

Key Insights

• Chavarria has always been fascinated by the way people dress. Growing up in the San Joaquin Valley in California, he was far away from the centres of fashion, but still paid close attention to style around him. “Part of my personal outlook was the way people chose to dress themselves in order to project an inclusion in a particular group,” he recalls. “The women in the family, I think of them in the red lipstick and the dark floral dresses getting ready for mass every Sunday, the black veils for the widows and the men with their fine pressed shirts.”

• Growing up half white and queer in a macho, predominantly Latinx environment, Chavarria often felt out of place. “I was always looking at my surroundings as an outsider. It was difficult when I was young, but now I look back on it and I'm so grateful because it gave me a perspective that was highly visual, very analytical, and it gave me so much time to work on my own creativity and to be just kind of in my own world as I grew up.”

• Chavarria says the American fashion system is in flux, and industry leaders need to meet customers where they are in order to stay relevant. “Our lives are so different now than they were ten years ago. It's so important for business leadership to be much more flexible and much more challenging with ideas in order to stay on top. People really need to be touched in a way that's more personal and more emotional and more connected to where people are,” he shared, adding that he believes that work involves “being communicative about social issues.”

• Chaavarria’s advice for young designers is simple: “Experience is your best friend, because what you learn in school is not what you're going to learn in the real world,” he says. “I suggest that people get jobs in every level of fashion for the experience. Even if it's a job you hate, stick it out for a year. It doesn't matter if you hate it, because that's where you're going to learn the most.”

Additional Resources:

• Willy Chavarria | BoF 500 | The People Shaping the Global Fashion Industry
• What Does the American Dream Look Like Today? | BoF

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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 

• Indie Brands Are Making This Fashion’s Biggest Olympics Ever | BoF
• Vogue World to Kick Off Couture Week With Olympics Tribute | BoF
• How the Paris Olympics Will (Really) Impact Fashion Week | BoF

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2024 has the potential to be a dynamic year for dealmaking in beauty, as brands including Makeup by Mario, Kosas, Merit and even Selena Gomez’s Rare Beauty begin exploring their strategic options. But strategic buyers and private equity firms are also adopting more selective acquisition strategies.

At The Business of Beauty Global Forum 2024, Vennette Ho, managing director and global head of beauty and personal care at investment bank Financo Raymond James shared her expert views  on this year’s M&A scene in the beauty industry. Vennette is the industry’s most respected investment banker, so when she talks, the beauty industry listens.

“M&A happens when there's a fundamental change in the consumer. The consumer needs and the consumer wants are something that the strategics today don't have,” Ho explained. “Every time there's an evolution of a consumer need or want or expectation, M&A has to become a necessity for large strategies to look at.”

This week on The BoF Podcast, Imran Amed, BoF founder and editor-in-chief sits down with Ho to discuss the evolving nature and market of the beauty industry.

Key Insights: 

• According to Ho, consumer expectations for beauty brands have changed, as well as how they engage with them. Acquiring indie brands helps conglomerates meet those expectations. “A lot of the big companies don't have … the ability to incubate internally, they don't have the ability to come up with something. It really comes honestly from the hearts of founders and it comes from private companies. As a result, M&A becomes really necessary,” she says.

• Ho advises founders to get to know lots of potential acquirers when considering a potential acquirer, in order to understand who shares your values before making a deal. “It also goes for the other side that they feel like they know you and you can have a better alignment from the beginning,” she adds. .

• The perfect exit process is not just about the closing of the deal but also what happens after. “What happened six, 12 months, three years after the deal happened? Are people still feeling the same way? I think that's where we get the most pride and say, ‘Okay, this actually impacted the industry in some huge way that went beyond just that moment of the deal,’” says Ho. 

• Looking towards the future of the industry, Ho believes we’ll continue to see the breakdown of beauty category silos. “I think some of the most interesting and most disruptive companies don't actually fit into that mould and don't actually fit into a traditional thing,” she said. “The consumer doesn't think, ‘Is this a prestige brand? Is this a mass brand? Is this a skincare brand?’. They're thinking, ‘Is this a brand that I want to engage with that engages me in a certain way?’ There's a really exciting democratisation of things where brands can exist in different channels at the same time.”

Additional Resources:

• Why L’Oréal Is Investing in Niche Chinese Fragrance Brands | BoF 
• The Changing Shape of Beauty M&A | BoF
• Beauty’s Top M&A Targets | BoF

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In a special episode, BoF founder and editor-in-chief Imran Amed joins Bob Safian on the Rapid Response podcast, part of the respected Masters of Scale series.

“The most interesting thing you can do, if you look at historical photos going back 50 or 100 years, is to look at what people are wearing. It gives you a sense of what's happening in the world at that time,” said Amed. “When we look back to 2024, and see the Hoka sneakers, the athleisure, and the streetwear looks that people are wearing, these are a reflection of what's happening in the world right now. That's what makes fashion so powerful.”

In their conversation, Amed and Safian discuss the rapid growth of the global fashion business, the dominance of the megabrands and the resulting crisis of creativity and challenges faced by independent fashion brands, as well as the impact of ultra fast fashion brands like Shein and Temu.  

Key Insights: 

• According to Amed, the fashion industry's focus on business growth is stifling creativity,  leading to a homogenised market, where innovation is increasingly scarce. "Creatives are being put into boxes and forced to work in ways that are all about meeting the demands of these large, now publicly traded companies that are analysed by all the same investment banks and analysts as Procter & Gamble and Apple. When you're in these big public companies, every quarter you have to show growth, and it really puts a drain on creativity."

• Independent designers are facing significant hurdles in a market dominated by mega brands. "The big brands in this industry have become so big, so dominant that it makes it really hard for younger independent designers,” Amed explains. “Lately, I've just had this feeling that the early stage part of our industry is not very healthy. There's been a lot of things happening in the industry that have just made it really, really hard."

• Amed believes artificial intelligence is poised to revolutionise the fashion industry. "It's going to be really interesting to see how leaders on both the creative and the business side of fashion begin to integrate AI tools and processes into the way they run the business but also the way they run the creative process. Some of the designers I'm talking to are already using some of these tools."

Additional Resources:

•  The Fashion System Is Creaking. Will It Collapse? | BoF
• The BoF Podcast | Imran Amed: ‘It Is in Our Struggles That We Find Our Purpose’ 

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