Fashion News Alert: Versace Bows Out of Paris Couture Week, Dwayne Wade Creates Capsule Collection, Reed Krakoff’s New Job, and Twitter to Phase Out Buy Button

Versace Spring 2016 image courtesy of elle.com

Versace Spring 2016 image courtesy of elle.com

Atelier Versace has decided to skip Paris Couture Week. Atelier Versace usually shows their couture collection opening night of Paris Couture Week. Instead, the iconic fashion house will host a series of fashion events for its exclusive clients.

At the moment, we do six shows a year, and my feeling is: That’s a lot of shows,” said Chief Executive Officer at Versace, Jonathan Akeroyd, to The New York Times. “Eight, if you count couture, seems excessive. And we all know the model is changing quite a lot, so why not take the opportunity to try something new?”

This bowing out of Paris Couture Week is on trend as other major fashion brands are opting out of presenting collections this season or combining their menswear and women’s wear collections. Akeroyd revealed that Atelier Versace gets more traction from dressing celebrities for red carpet appearances and hosting smaller fashion events than producing big fashion shows.

Image courtesy of fashionnetwork.com

Image courtesy of fashionnetwork.com

Dwayne and DSquared2

“I have known Dean and Dan for many years, and their innovative design influences my style choices, said Wade in a fashionnetwork.com article, so I am very happy to have joined forces with Dsquared2 for the Saks Fifth Avenue collection, a sample of our shared fashion vision.”

Image courtesy of newyorkmagazine.com

Image courtesy of newyorkmagazine.com

Reed Krakoff’s new home

Where is Reed Krakoff? Well, starting February 1, Krakoff will be at Tiffany & Co.

Krakoff has been named Chief Artistic Officer replacing Francesca Amfitheatrof. Duties will include directing design for Tiffany & Co. luxury accessories and brand jewelry, as well as lead Tiffany & Co.’s artistic and design visions in stores and e-commerce marketing, and advertising.

Krakoff has worked with Tiffany & Co. before, serving as creative collaborator in 2016. His first collection for Tiffany & Co. will debut in Holiday 2017. Reed Krakoff is a three-time CFDA Award winner, previously serving as Executive Creative Director of Coach before launching his own accessories line in 2010 and suspending his eponymous line in 2015. Tiffany & Co. holiday sales dropped by 4% in the US in 2016 but increased globally to $966 million.

Image courtesy of shopify.com

Image courtesy of shopify.com

Goodbye ‘buy’ button

Does social media sell garments? Well, apparently Twitter is no longer convinced. In 2014 Twitter instituted the ‘Buy’ button in which Twitter followers could purchase product through its social media platform.

The 300 million-user social media platform has decided to refocus its strategy to increase users and revenue. Shopify’s ‘Buy’ button was to boost Twitter’s advertising sales connecting Twitter directly to specifically targeted brands. The abandonment of this e-tail demonstrates the short lifespan of several e-tail apps and features that have been touted to drive commerce-based revenue for social media platforms.

—William S. Gooch

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