The Business of Fashion Podcast

• The Power of a Luxury Handbag

  From the legendary Hermès Birkin to recent sensations like Alaïa’s Teckel, luxury handbags have long held a distinctive power within the fashion world. Blending brand heritage, practicality, and emotional resonance, handbags often become a signature item for brands to capture consumer attention and drive commercial success. But the ongoing challenge for luxury brands is maintaining innovation, managing consumer desire, and navigating a landscape rife with copycats and shifting trends.On this episode of The Debrief, senior correspondent Sheena Butler-Young speaks with luxury correspondent Simone Stern Carbone about the power of an iconic handbag and the delicate balance brands must achieve to keep them relevant.Key Insights: Bags often become the most recognisable symbols of luxury brands, significantly contributing to their financial performance. For instance, Alaïa’s Teckel bag – a playful, wiener dog-shaped design – helped offset the weaker performance of parent company Richemont’s other fashion labels. “That one bag was able to do so much, not just for the brand but for the larger company that the brand sits under,” says Stern Carbone. “That just says so much about the impact that a single wiener dog-shaped bag can potentially have.”Handbags are particularly attractive as entry-level luxury items because they are recognisable status symbols. “Consumers might not recognise jeans from Bottega, but they will recognise whether a bag is Louis Vuitton,” explains Stern Carbone. “Bags are something that people will purchase time and time again; they will use them daily. And if done right, it really becomes the totemic product for a brand.”Successful handbag designs can become immediate targets for imitation due to limited legal protections and the ease of replicating shapes and materials. “Once the bag gets copied, it's already over,” notes Stern Carbone, underscoring the need for continuous innovation or artificial scarcity, as mastered by Hermès with its Birkin and Kelly bags.Brands must innovate thoughtfully, staying true to their heritage and core identity rather than pursuing novelty for novelty’s sake. “Empower your creative design teams and give new voices a chance,” advises Stern Carbone. “The beautiful thing is there's variety for everybody. Brands just need to authentically strike the cord with their loyal consumer base… and handbags are a way to do it.”Additional Resources:In a Market of Copycats, Handbag Innovators Stand Out | BoF Can Slouchy Work Bags and a Selfie Mirror Grow Delvaux? | BoF How Polène Is Growing French DTC Handbags Into an International Success | BoF On the Wings of Céline | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Tory Burch and Pierre-Yves Roussel on Building a Global Brand with Local Relevance

  Right from the outset, Tory Burch had a vision: to create a business where profit and purpose could go hand in hand. She was quick to take her brand global, first to Tokyo in 2009, and then on to Rome, Paris, Shanghai and beyond. Today, Tory Burch operates more than 350 stores around the world and across the Global South, including the Middle East, Latin America and South East Asia.Her partner in life and business, Pierre-Yves Roussel, joined the company as CEO in 2019 after working with some of the industry’s top creatives as Chairman and CEO of the fashion group at LVMH. Together, they’ve taken a measured, intentional approach to growth, balancing global ambition with a focus on finding local relevance.“It seems so superficial to hear, ‘let's just transplant a Westerner into a [different] market. That's just the opposite of how we look at things,” says Burch. "Authenticity is what people are going to be looking for more and more," adds Roussel. "You don't try to please every customer in the world. You attract the people that relate to who you are and what you stand for and what you propose." This week on The BoF Podcast, BoF founder and CEO Imran Amed in conversation with Tory and Pierre-Yves from BoF CROSSROADS in Dubai, exploring what it means to build an authentic, global brand in today’s competitive fashion marketplace.Key Insights: Burch believes purpose should drive business strategy. “From day one, my business plan was how do we have a successful business with incredible products that actually have deeper meaning and support a foundation for women entrepreneurs,” she says.Roussel emphasises authenticity as the key differentiator in today’s saturated fashion landscape. "People probably feel that there's too much formula around. Everyone is doing pretty much the same thing. People are really looking for authenticity."Operating globally requires deep local insights. For Burch and Roussel, global expansion isn’t about transplanting a fixed brand formula. Instead, it’s about deeply understanding and respecting local traditions. "It seems superficial to transplant a Westerner into a market – that's the opposite of how we look at things," says Burch. Roussel adds, "You don't change the essence of who you are, but you translate it into the local culture."Navigating uncertainty, like shifting global tariffs, requires resilience. "Grace under pressure is very important," says Burch. "You have to be calm, not overreact or overcorrect, because it’s an iterative process."Thoughtful growth is central to Burch and Roussel’s strategy. "I've always wanted to be the most exceptional company, not necessarily the biggest," Burch explains. Roussel adds that "it's more about being focused and really going after things we really want."Additional Resources:BoF CROSSROADS 2025: How to Tap into Fashion’s Future Growth MarketsAfter the ‘Toryssance’: Tory Burch’s Balancing Act | BoFThe BoF Podcast: Tory Burch on Finding Purpose in Female Empowerment Hosted on Acast. See acast.com/privacy for more information.

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• Can Tariffs Really Revive 'Made in USA' Fashion?

  In early April, President Donald Trump announced an unprecedented wave of tariffs, imposing duties as high as 145 percent on imports from China. Among the rationales offered were the prospect of a US manufacturing renaissance.The American fashion sector – heavily reliant on overseas production, particularly in China – now faces significant disruption. Some brands are adapting quickly, leveraging their domestic operations and leaning into a ‘Made in USA’ identity. Others are reevaluating their reliance on China as their primary sourcing destination. But the prospect of a mass return of garment manufacturing jobs remains a remote possibility, most economists and fashion industry experts say. In this episode of The Debrief, BoF correspondents Malique Morris and Marc Bain join executive editor Brian Baskin and senior correspondent Sheena Butler-Young to assess whether the dream of American-made fashion is any closer to reality.Key Insights: The ‘Made in USA’ dream remains out of reach due to the lack of US manufacturing infrastructure. "The infrastructure just literally isn't here," says Bain. "Even if you use US grown cotton, most of the time that cotton is shipped out of the US to be spun into yarn and woven into fabric somewhere else. These are all sorts of things that we just don't have here. It's been lost over decades and it would take decades to get it back.”Brands that already manufacture domestically are seeing success from marketing craftsmanship, experience and emotional value. The outdoor clothing company Filson, for example, offers walking tours around their manufacturing facility that shares a space with their Seattle headquarters. “Fashion is already an emotional purchase, and consumers do care about the story behind a brand. That's why brand marketing is so important for building the label,” says Morris. “This is another way to tap into that. It's storytelling, not nationalism.” Whereas the US has a lack of infrastructure for manufacturing, China is in the exact opposite position. Small brands might have their supply chain concentrated in one geographical area and are especially vulnerable to tariff changes. “If that area happens to be China and suddenly there's this giant more than doubling of tariffs, you are in serious trouble,” says Bain. Although cheap overseas clothing companies like Shein and Quince will now be subject to increased duties, consumers won’t abandon cheap fashion overnight. “Even if [middle-class shoppers] are not going to buy American-made brands that are significantly more expensive, maybe they'll go second-hand, maybe they'll vintage,” says Morris. “I think the hope here is that people will just get conditioned out of the idea that they can get $2 jeans and a $10 dress.”Additional Resources:How Made-in-America Brands Turn Tariff Turmoil Into Opportunity | BoFWhy ‘Made in America’ Is Still a Fashion Fantasy | BoFUnravelling the Myth of ‘Made in America’ | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Sabyasachi on Building a Global Brand from the Global South

  Born in the suburbs of Kolkata, India Sabyasachi Mukherjee grew up immersed in the rich cultural environment in the state of West Bengal. After attending fashion school, he focused on creating his own brand with a small team and a big vision: to create Indian fashion that honours tradition while setting a new global standard. His first foray into the global market at New York Fashion Week in 2006 was dismissed by some critics as being “too ethnic”, but he remained undeterred, returning to India to build a business with power, presence, and purpose. Now he’s back in New York, creating a sensation with his first store outside India. The reception has been much warmer even if the core philosophy remains the same. “The clothing hasn’t changed at all. What’s changed is people’s perception – and I think nothing succeeds like success,” he says. “The only way you can succeed is to just stay strong. Because if you do not have a unique identity, you'll never be globally recognised.”This week on The BoF Podcast, a conversation with Sabyasachi from BoF CROSSROADS which took place in Dubai, bringing together top business and creative leaders to examine opportunities for fashion, beauty and luxury brands in the Global South.Key Insights: Mukherjee’s early setbacks in New York taught him that success doesn’t come from fitting in, but rather from standing firm. "Keep holding onto your belief system because if you do not have a unique identity, you'll never be globally recognised.” His designs haven't changed over the years but perceptions have. “Once you start having authority to tell people that this is the way you want things to happen, people stand up and listen to you."Global brands often fail in India because they misunderstand its luxury consumer. "What they need to do is they need to have a stronger cultural connection with the country for people to understand why they should pay these kinds of prices," he says. "There's a misnomer about India that Indians buy cheap, but that's not true at all. I think Indians buy value. So if you can come and show the value of your brand to India, Indians will open up their wallets."Amid shifting geopolitics and US trade tariffs, Mukherjee sees an opportunity. "This becomes a wonderful opportunity for us to say that we can together create our own dominance. Many times we think the solution only lies in the West, not knowing how much stronger the solution is within our own ecosystem," he says. "I think a lot of people, a lot of countries, designers, markets, finance people, influencers, everybody will come together to push up the might of the Global South. It's going to happen for sure."Mukherjee believes cultural craftsmanship should be protected on a global scale. "While there are certain things that can be put under tariff, I think businesses which are made with craft and which are with local cultures should be exempted so that we can let them thrive and we can make the world a more richer, diverse, and a meaningful place to live in."Additional Resources:BoF CROSSROADS 2025: Unpacking Fashion’s Future MarketsWhy Billionaire Industrialists Are Snapping Up India’s Fashion Brands | BoF Hosted on Acast. See acast.com/privacy for more information.

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• Trump’s Tariffs Change Everything

  President Donald Trump announced an unprecedented wave of tariffs on April 2, imposing duties as high as 54 percent on fashion imports from key manufacturing countries, including China and Vietnam, and 20 percent on goods from the EU. These measures immediately sparked panic across global markets, ratcheting up the odds of a US recession and causing sharp stock price declines for major fashion brands such as Nike, Victoria's Secret and VF Corp. Sustainability correspondent Sarah Kent and luxury correspondent Simone Stern Carbone join executive editor Brian Baskin and senior correspondent Sheena Butler-Young to break down the tariffs’ effects on manufacturing, luxury brands, consumer behaviour and potential future shifts within the industry.Key Insights: The belief that these tariffs could quickly restore US-based fashion manufacturing is unrealistic. "It would take years of investment to build up the infrastructure and skill base within the US to replace manufacturing capacity that has been moving abroad for decades. For the apparel industry, it just does not exist on the scale that would be needed," explains Kent.Luxury brands, traditionally insulated by European-based production, will also face pressure. "Even for luxury brands that pride themselves for their production in countries like mostly France and Italy, they are going to be hit with some tariffs too," Stern Carbone points out.The tariffs introduce a complex challenge for luxury brands, requiring careful balancing of price adjustments, consumer sentiment and creativity amid ongoing economic uncertainty. "It's this mix between pricing, demand, maybe a lack of creativity, and also incentivising customers to actually purchase luxury goods," says Stern Carbone. "You don't know what [Trump] is going to do next, you don't know if this is going to stick, so are you going to spend $10,000 on a handbag - even if you can technically afford it - when you don't know what tomorrow brings?" emphasises Kent.The industry isn’t entirely powerless. "Brands have a voice. Brands are part of the global economy. Brands can lobby," says Kent. "They can make it known that they don't like this. If you're not raising your voice and saying, 'hey, this is really hurting big business and it's not making America great again,' then you're not even trying."Additional Resources:Trump’s Tariffs Rock Fashion’s Supply Chain | BoFExplainer: How Trump’s Tariffs Threaten Luxury Fashion | BoFOp-Ed | Fashion’s Reset: What Tariffs Are Forcing Us to Finally Fix | BoF Executive Memo | An Action Plan for Navigating Trump’s Tariffs Hosted on Acast. See acast.com/privacy for more information.

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