The Business of Fashion Podcast

What do Poolside FM and Isamaya Beauty have in common? Their founders have created brands with unique yet relatable identities.

Background: 

Isamaya Ffrench, makeup artist and founder of Isamaya Beauty, and Marty Bell, co-founder of sunscreen brand Vacation (and Poolside FM), both took unconventional routes to turning their products into veritable brands. Vacation began as a spinoff of the internet radio station inspired by summer tunes of the 1980s, Meanwhile, Ffrench’s brand sparked attention for her new Lips line’s penis-shaped lipstick cases. Bold and risky in equal measure, these moves laid the groundwork for their businesses while giving their brands personalities and spark.

“If you're strong enough to have a vision and get a brand off the ground, you know what your audience wants,” said Ffrench. “Do the things that feel natural and right, because it's when you start doing the things that the CMO tells you you have to do and you feel awkward about it… no one's going to want your product because it doesn't look authentic.”

This week on The BoF Podcast, Bell and Ffrench speak with BoF founder Imran Amed about the power of brand building and how founders can inject their own personalities into their products to make them recognisable and memorable.

Key Insights:

• Ffrench advises founders to scrutinise conventional wisdom about how to launch a brand rather than trusting their instincts and vision. “It's really about taking things [advice] with a pinch of salt, but following your gut and your spirit and doing what feels right for you and your brand,” she says. 
• According to Bell, people gravitate towards brands that are a reflection of their founders’ personalities and beliefs. “Some of the best brands in the early stages are just true personifications of their founders… That’s very hard to compete with if you don’t have someone who has a view on the world and a perspective,” Bell explains. 
• Ffrench believes large beauty corporations struggle creating an authentic brand identity because they focus on numbers rather than forming a connection with customers. “You lose the essence, you lose the integrity and the artistry because that takes time and money and spirit,” Ffrench observes. Bell says the key to creating an authentic brand is finding an idea or aesthetic you’re interested in and creating the product line around it. “If you're not deeply passionate about the world that you're going to build [with your brand], you need to find someone who can be obsessive,” Bell says.

Additional Resources:

• The Business of Beauty Global Forum: How Do We Create Connection? During the third session of The Business of Beauty Global Forum, Pamela Anderson, Isayama Ffrench and Glossier chief executive Kyle Leahy unpacked how to build unique brands and drive authentic relationships with customers.
• Sunscreen Brand Vacation Takes Its Miami Pool Party Vibe to the Suburbs: Following a $6 million Series A funding round, the sunscreen brand prepares to move past its club of creative clientele and reach the masses. 

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The celebrated menswear designer joins BoF’s Imran Amed to discuss the evolution of his career in fashion from selling secondhand clothes to building his own brands.

Background: 

At first glance, Oliver Spencer’s story might seem like a fashion fairytale. In just a matter of a few years, he went from selling secondhand garments in a stall on London’s Portobello Road to seeing actors wearing his bespoke waistcoats in the 1994 film “Four Weddings and a Funeral,” putting his formalwear label Favourbrook into the spotlight. 

But in the subsequent years, Spencer faced the challenges that come with running an independent fashion brand: from debt to self-doubt while aiming to reach profitability milestones. 

“Small is beautiful. You have to have a certain amount of business turnover to get to these levels, but you don’t need hundreds of millions [of dollars] to run a profitable brand,” says Spencer.

Key Insights:

• The British designer’s formalwear background — which includes creating looks for highbrow events like the Royal Ascot — informed his approach to menswear, even given today’s inclinations for toned-down dressing. “Just because you’re wearing casual, doesn’t mean you’re not dressing right,” says Spencer. 
• Even as consumer preferences change, however, Spencer believes it’s just as critical to maintain clear sight of the brand’s original vision as it is to evolve it. “I will have one foot stuck in the past and the rest of my body walking into the future,” he said.    
• As a small brand, storytelling and working with the right wholesale partners go hand in hand. “The wrong wholesale partner can send the wrong message,” said Spencer. 
• Spencer has ADHD and dyslexia, which he says creates both challenges and opportunities. “You understand how to deal with problems and you understand how to work out a problem in a different way… You can see things in a problem that other people can’t see.”

Additional Resources:

• To watch “Four Weddings and a Funeral” click here.
• Explainer — Why the Menswear Market Is on Fire: From the rise of work from home to the decline of streetwear, BoF unpacks what’s driving the “unprecedented” boom in the men’s market.
• Where Does the Suit Fit into the Modern Wardrobe? The fate of the traditional suit was already in question long before the pandemic. Where does the market go from here?

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British fashion designer Samuel Ross opens up to BoF editor-in-chief Imran Amed about his work to foster more diversity in fashion.

Background: Creative industries still have a long way to go before they become truly inclusive, according to Samuel Ross, designer and founder of London-based fashion label A-Cold-Wall and industrial and product design studio SR_A. 

“There's not enough diversity in the sector for high achievers who should be there,” he said to BoF founder and editor-in-chief Imran Amed on stage at WPP Stream, during the annual Cannes Lions International Festival of Creativity.

This week on The BoF Podcast, Amed and Ross explore the designer’s creative processes, his approach to engaging younger customers as well as his mission to build a more inclusive creative sector.

Key Insights:

• As a multi-disciplinary artist, working in fields ranging from architecture to furniture design, Ross takes a “democratic approach” to his work. “I try not to operate across a hierarchy when it comes to creativity. I care as much about the texture of a raw cut glass as… I do about the reverence of a chapel,” he says. 
• He also leans into technology — be it through gaming or augmented reality — to create experiences that resonate with younger consumers. “We're using [digital] play as a handshake with the audience base to get onto those channels and to build a new relationship through product and add new characteristics to product,” explains Ross. 
• Social media also enables Ross to forge an organic connection with his community of followers. When the designer posted about A-Cold-Wall’s most recent Nike collaboration on Instagram, for example, it garnered more than 24,000 likes in 17 hours. “It's really about driving the founder-consumer connection where possible,” said Ross. 
• It was after sharing his thoughts on the fashion industry’s inclusivity shortcomings on social media that Ross decided to be more proactive about enabling change in the industry by creating concrete opportunities for people traditionally excluded from the industry through the Samuel Ross Black British Artist Grant Programme, which provides funding and mentorship to young designers, artists and other creatives. “I had to look in the mirror and say, ‘Well, what am I actually going to do about this?’ he says.

Additional Resources:

• A-Cold-Wall Founder Samuel Ross Returns With More Grants for Black British Creatives: British fashion designer, Samuel Ross created a fund to help Black creatives and startups establish themselves in the fashion industry. 

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At The Business of Beauty Global Forum, activist and author Schuyler Bailar shared his journey to understanding beauty and self-acceptance as a biracial, transgender man.

Background: 

For Schuyler Bailar, an activist, author and the first openly transgender NCAA Division I swimmer in the US, finding a sense of belonging hasn’t always been easy. Bailar realised being accepted by society wasn’t as important as accepting himself. 

“Belonging is not something that's going to be given to me. It's something that I have to find on my own,” said Bailar at The Business of Beauty Global Forum 2023. 

This week on The BoF Podcast, Bailar opens up about his own experiences with the pressures to conform to Eurocentric and cisgender beauty ideals as a biracial, transgender man, how he discovered his path to self-acceptance and why he wants others to be able to do the same. 

Key Insights:

• From an early age, Bailar was acutely aware of the negative role the beauty industry and society as a whole can play in shaping an individual’s perception of belonging and self-worth, a deep sense that was shaped by the experiences of his mother as a Korean immigrant growing up in the US. “She tried very hard to fit whatever it was that would make her feel included, which a lot of the time meant bending towards whiteness, bending towards assimilation,” said Bailar.
• Before he transitioned, Bailar attempted to conform to society’s cisgender expectations of how women should look, which ultimately led him further away from his true self. “I tried so hard to be what society expected of me. What society told me I was: a woman,” said Bailar. “I was trying so hard to figure out how to be this woman, and yet I was miserable.”
• At his first collegiate swim practice at Harvard University, Bailar said he felt hesitant and scared standing before his teammates in a Speedo, but he found the courage to continue swimming. “I stood alongside all my teammates, none of whom were transgender like me, feeling not beautiful, feeling misshapen, feeling strange, feeling weird, feeling not man enough. But I dove in… and I swam with them anyway,” said Bailar. 
• Since graduating, Bailar has turned his attention to activism, and works to challenge society’s beauty standards. “What I want from the world is for us to be able to dive into a beauty that originates at every single person so that nobody has to stop being themselves, so that nobody has to show up and change who they are in order to feel like they belong,” said Bailar. 

Additional Resources:

• Lessons From Day One of The Business of Beauty Global Forum: During BoF’s The Business of Beauty Global Forum, Schuyler Bailar discussed how the beauty industry and Euro-centric standards affected his mother’s childhood and his own. 
• Schuyler Bailar, first trans athlete to compete on a NCAA Division 1 men's team, wants all trans athletes to feel represented: CBS News interviewed Schuyler Bailar about his experience as the first openly transgender athlete to compete on a NCAA Division I men’s team. 

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On both a local and international scale, the Middle East’s fashion industry has seen significant growth thanks to changing regulations and an influx of creatives.

Background:

Substantial economic activity as well as cultural and regulatory shifts in the Middle East have accelerated the growth of the region’s $89 billion fashion industry. Middle Eastern governments are fostering this expansion as they increasingly encourage creative work from designers, social media influencers and stylists, and a more unified culture emerges across borders, said Rawan Maki, BoF Insights’ associate director of research and analysis.

This week on The BoF Podcast, Maki and Marriam Mossalli, founder and chief executive of Niche Arabia, a Saudi Arabia-based luxury communications and marketing agency, join BoF editor-in-chief Imran Amed to discuss BoF Insights’ latest report, “Fashion in the Middle East: Optimism and Transformation” and what’s happening in the region’s fashion scene. 

Key Insights:

• According to Mossali, Saudi women’s lives have changed: Women now make up 33 percent of the local workforce, women-owned businesses have increased 60 percent in the past two years, and their involvement in leadership roles has grown. “The biggest change is that it's not just coming from someone in an office saying ‘Look, we're going to open the doors for women,” said Mossali. “Women drive, women can get behind the wheel, making sure that they're directing this change.”
• With the integration of women into the labour force, fashion in the region has evolved to suit working women’s lives, and trends like “modest wear” have grown. “What we're seeing is its [garments] changing … Light fabrics, shorter, so that it doesn't get caught inside our car door or the wheels of our office chair. It's made now for us with that lifestyle in mind,” said Mossali. 
• Due to increased digital transparency and connectivity, Saudi women are now looking to brands to provide more than accessories to go with their Abayas — a full-length garment some Muslim women wear in public as outerwear, like a coat. “They [customers] want more ready-to-wear, more beauty, they want more shoes,” said Maki. 
• Mossali believes while more flexible government regulations allow brands to create a growing fashion industry in the region, cultivating the business ultimately lies with the private sector. “When it comes to manufacturing, to education, a lot of those initiatives are coming with the support from the government, but they are led by the private sector and private institutions. [The government] is enabling us and empowering us to do those things,” said Mossali. 
• During the discussion, Amed asked Mossali if Saudi Arabia can truly grow a thriving fashion ecosystem, given the criticism the country has received in the past for its stance on LGBTQ issues and the fact that the fashion industry’s workforce historically has high levels of LGBTQ representation. Mossali pointed to the Saudi Tourism Authority website, which says the country now welcomes LGBTQ visitors, and suggested that people wishing to better understand the country to visit in person. 

Additional Resources:

• Fashion in the Middle East: Optimism and Transformation | BoF Insights: Shifting consumer behaviours and new government investment strategies have set up the fashion industry in the region to develop in the upcoming years.

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The pioneering 89-year-old entrepreneur shares her life story as a child refugee who fled Nazi Germany and created a $3 billion technology company. 

Background: 

At BoF VOICES 2022, the pioneering 89-year-old entrepreneur Dame Stephanie Shirley discussed her life working with early computers at the London’s Post Office Research Station and how, against all odds, she created a software company for — and run by — other ambitious women, valued at almost $3 billion.  

“You could always tell ambitious women by the shape of our heads. They're flat on top and that comes from being patted patronisingly,” said Shirley, describing the sexist work environments of the day. 

This week on The BoF Podcast, Dame Stephanie discusses the hurdles she had to overcome as a woman in the technology industry, the growth of her influential company, Freelance Programmers, and warns us about the growing power of giant technology companies.

Key Insights:

• Growing up as a child refugee who fled from Nazi Germany Shirley realised that being able to adapt was the key to surviving and thriving. “I realised that change is often welcome indeed, that I could initiate change. And when it was necessary, that sense of personal empowerment took time to develop. But it has never left me,” said Shirley. 
• Freelance Programmers was one of the first software companies that allowed women, who had long left the workforce to create families, to work from home, she explained. “It was a company of women, a company for women, an early social business, a software house which recruited professionally qualified women who had left the industry,” said Shirley.
• For Shirley, trying to thrive in a male-dominated field like software development, required a little “subterfuge.” After other businesses refused to respond to her letters signed with her name, “Stephanie” Shirley quickly adapted and began signing them as “Steve.” “If I used the family nickname of Steve … customers would not only read them, but pick up the phone to reply. When they discovered that Steve was actually a woman, they were already half hooked,” said Shirley. 
• According to Shirley, as the Internet develops so does the divide between the corporate world and the common Internet user, further widening the gap between the truth and fiction. “Our reliance on digital technology has placed us in the hands of powerful tech innovators and the giant corporations they spawned … They have the power to influence our daily lives in ways few people understand,” said Shirley.

Additional Resources:

• How Technology Can Power a Better Future: During BoF VOICES, The Business of Fashion hosts Dame Stephanie Shirley who discusses her first company, Freelance Programmers and what it was like working in a male dominated industry in the 1960s. 

Please watch the full interview here: https://www.youtube.com/watch?v=KoOtQdBod9U 

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At The Business of Beauty Global Forum 2023, Pamela Anderson shared her perspectives on how the definition of beauty — and the beauty business — is changing with Moj Mahdara.

Background: 

“We're all trying to make ourselves beautiful so we are respected, admired, loved. So these products have to come from a loving place. That’s the secret ingredient: having heart,” said Pamela Anderson at The Business of Beauty Global Forum 2023 in Napa Valley, California.

This week on The BoF Podcast, Anderson and Moj Mahdara, managing partner and co-founder of Kinship Ventures and co-founder of BeautyUnited, discuss sustainable beauty products, shame and her own beauty and wellness journey. 

Key Insights:

• Anderson’s early experiences with beauty go back to her time at the Playboy Mansion, surrounded by beautiful women who were in charge of their own sexuality. There, watching and learning from powerful women, the former Baywatch star was able to grasp her own femininity. “And I just watched. And I want it to be sexy, too. I found that was powerful and interesting,” said Anderson. 
• The beauty industry has been known to shame women for being older and has consistently pushed an anti-ageing agenda. Anderson believes older women shouldn’t chase youth. “I like embracing our age, embracing looking as good as we can, but also being realistic.”
• Shame and insecurities caused by the beauty industry and Western beauty standards were recurring topics at BoF’s Global Beauty Forum. According to Anderson, she moves past humiliation with poise. “Grace and dignity no matter what: you hold your head high. Everyone has gone through things that are embarrassing or difficult, but we’re all just people,” said Anderson.
• Anderson imparted one last piece of wisdom to the room of beauty creatives and innovators. “I'm just this imperfect girl from start to finish who wants to do her part and be a good person in the world and share my story,” said Anderson.

Additional Resources:

• The Business of Beauty Global Forum: How Do We Create Connection? During BoF’s first Global Beauty Forum, Pamela Anderson, Isayama Ffrench and Glossier chief executive Kyle Leahy discussed how brands could better capture attention and secure lasting relationships with customers in an oversaturated beauty market. 
• Lessons From Day One of The Business of Beauty Global Forum. Speakers including John Legend and TooD Beauty founder Sharareh Siadat laid out their vision for a more inclusive beauty industry during the first session of The Business of Beauty Global Forum.
• The Business of Beauty Global Forum: Where Will Growth Come From? During the second session of The Business of Beauty Global Forum, speakers including Sephora Americas chief executive Jean-André Rougeot and Mielle Organics founder Monique Rodriguez charted beauty’s next stage of growth.

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At Egypt Fashion Week, BoF founder Imran Amed shared the origin story of BoF and reflects on the forces that will shape fashion in the coming decade.

Background: In the 16 years since he published his first post on The Business of Fashion, Imran Amed has seen the fashion industry try to adapt to adjust to seismic changes in technology, culture and business — and BoF has been a leading voice in guiding the industry through all that change. 

But he may never have created BoF if it weren’t for the challenges that he was confronting in his own life. “It is in our struggles that we find ourselves — and that we find our purpose,” he says. 

In this wide-ranging conversation which took place during Egypt Fashion Week, Amed sits down with Malak Fouad, host of the “What I Did Next” podcast to discuss BoF’s early days, Covid-19’s impact on the fashion industry, fashion in the Middle East and the impact of new technologies including the metaverse and artificial intelligence.

Key Insights:

• Amed, left his job as a management consultant and set up an incubator to support young fashion designers. When that project failed, he channelled his energy into the personal blog he had been keeping and called it The Business of Fashion. “It was for my friends and family to see my journey from McKinsey to the fashion world,” says Amed. 
• During the Covid-19 pandemic, Amed saw BoF’s role as providing guidance and information to those working in the fashion industry in the midst of great uncertainty. “I said, we have no idea what's going to happen. Our job is to act as a guide for the industry as we navigate a once-in-a-century global health crisis,” says Amed. 
• Amed advises companies to lean on local expertise to connect with customers and find success in new markets. “[Fashion brands] need to empower local teams so they can create activations, products, experiences that resonate with customers,” says Amed.
• Amed believes innovations like AI will change how people work in the industry, though fashion will always need creative people “AI has the potential to impact a lot of the parts of the industry that I think people thought were a bit untouchable,” says Amed.

Additional Resources:

• The Fashion Jobs Most Vulnerable to AI: BoF’s Sheena Butler-Young takes readers through the effects AI can have on the fashion industry, and the creative job market. 
• Luxury Adapts to the ‘New Ramadan Rush’: As the Middle Eastern market grows in the fashion industry, luxury brands like: Dior, Fendi and Valentino are adjusting to the change. 

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BoF’s Imran Amed sits down with Priya Rao, executive editor of The Business of Beauty, to go inside the findings of our new report ‘The State of Fashion: Beauty.’

Background:

The global beauty industry is booming. 

“Beauty remains one of the most dynamic, challenging and sought-after industries, much more than other consumer goods — or even fashion,” says Priya Rao, executive editor of The Business of Beauty. “What we've seen is that consumers are so rabid and fervent for their beauty products… and brands are still really excited about bringing a new proposition to market.”

This week on The BoF Podcast, editor-in-chief Imran Amed sits down with Rao to break down the five critical themes covered in BoF’s new report, “The State of Fashion: Beauty,” created in partnership with McKinsey & Company.

Key Insights:

• In the oversaturated beauty and wellness market, it can be difficult for new brands to gain consumer attention. To break through, they should first focus on one product or theme before moving to other categories. “[Rihanna’s] Fenty Beauty was known for colour cosmetics until they most recently launched skin care,” says Rao. “They didn't try to launch hair care and injectables and sexual wellness devices all at once.”
• Expert voices are key when it comes to building trust as a beauty brand. “What dermatologists or aestheticians have done for skin care, we need that in wellness,” says Rao. “The way that wellness really grows is with credibility from the people who are founding these brands and selling these products.”
• Gen-Z wants beauty products that are more environmentally friendly but also affordable. According to Rao, brands like E.l.f and Milani have been able to address that demand. “They are giving the best experience to beauty consumers, but they also check those boxes of being socially conscious and value driven,” says Rao. 
• Beauty M&A will consist of smaller deals driven by strong underlying financials. Big deals like L’Oréal buying Aesop for $2.5 billion will be a more of a rare occurrence. “Profitability is going to come into play much more… that's across the businesses out there in consumer goods,” says Rao. 

Additional Resources:

• The State of Fashion Special Edition | The New Face of Beauty: The special edition of The State of Fashion report by BoF and McKinsey & Company explores the reshaping of the global beauty industry. Download the full report to learn about the key dynamics that will impact all categories in the years ahead, from the rise of wellness to the influence of Gen-Z.
• The Business of Beauty Global Forum 2023: Streaming Live from Napa Valley, California on May 30-31.

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BoF’s Marc Bain and a group of panellists break down the state of web3 in fashion and where the technology is headed.

Background:

Over the last couple of years, the fashion industry couldn’t stop talking about the potential of NFTs, the metaverse, known in tech industry speak as web3. Now, the fervour around web3 has cooled and the speculators are long gone. But for those committed to the web3 space, the work continues, even as the discussion has shifted.

“People are pulling back, but people are investing,” said Brian Trunzo, metaverse lead at Polygon Labs. “If folks are still at the education stage, doing research either internally or through agencies, they may have cut budgets and pulled back a little bit, whereas folks who have beefed up and built out teams to execute against their web3 strategy, who have had that requisite education, they're doubling down.”

This week on The BoF Podcast, we share a conversation from The BoF Professional Summit: An Inflection Point in Fashion Tech, where our technology correspondent Marc Bain speaks with three web3 experts — Brian Trunzo, Alice Delahunt, founder and CEO of Syky, and Milton Pedraza, the founder and CEO of consulting firm the Luxury Institute — to debate the future of web3 and fashion. 

Key Insights:

• “Something that we say in web3 is that it's not so much a bear market, it's a build market,” says Trunzo. Rather than letting a drop in investments define how brands should approach the digital world, consider the performance of the brands that are actually putting resources towards building in the space. 
• Still, there are details that still need to be figured out, the panellists acknowledged. For Delahunt, purchasing a digital Gucci bag on Roblox made her realise how murky digital ownership could be, because virtual items must exist on the platform where they’re purchased. She believes blockchain has the power to change that standard. “Think about the physical world. We’ll go out on the street and there's public infrastructure that is owned by the US government… It’s public, but private enterprise sits on top of it,” she said. “I think of the blockchain as the public infrastructure that people start to build on.”
• According to Pedraza, this idea of digital identity will only become more paramount as the lines between the online and offline worlds continue to blur. “The technology keeps evolving… but the core principles of data identity, controlling your identity, taking control, monetising or doing whatever you want with your data… will all be supported by these emerging technologies,” he said.
• No matter what’s trending, Delahunt said the fact that digital tools like Blender and Fortnite can free users of the physical world’s limits. “You've always wanted to be a butterfly, you are not confined in the same way physically… and your ability to express yourselves in those spaces will inevitably be a huge part of the future,” said Delahunt.

Additional Resources:

• How AI and Web3 Are Shaping Fashion’s Future: At BoF’s tech summit experts in technology and creative innovators share their insights on how emerging technologies are impacting the fashion industry. 

To subscribe to the BoF Podcast, please follow this link.

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