At BoF VOICES, Remo Ruffini speaks to Imran Amed about adapting his brand’s programme of designer collaborations to a post-pandemic reality where Chinese customers and online activations are paramount.
After global fashion sales fell by 27 percent to 30 percent this year, according to estimates in BoF and McKinsey’s State of Fashion 2021 report (released Wednesday), the industry is bracing for a difficult and (likely incomplete) recovery next year. The important thing is to adapt. “This crisis could be an opportunity,” Moncler chief executive Remo Ruffini said at VOICES last week, predicting the fashion market is unlikely to return to pre-pandemic norms before 2023. “You cannot stay sitting in your chair for two or three years. We need to find new projects and new ways to work.”
With an eye on the rising importance of both digital and China, he’s planning to stage the launch for his next round of “Genius” collaborations in the country this September, with an event mixing physical and online elements. Since 2018, the Italian outerwear label’s “Genius” programme — a series of ultra-hyped, one-off collections from guest designers — has helped the brand reach untapped consumer niches, been a focal point for parties and store activations, and, perhaps most importantly, fuelled visibility on social media.
“The collection will be more customer-centric,” Ruffini said. “We’ll still have people there, but with a different approach.”
Elsewhere, the executive is planning bolder moves. Our conversation took place shortly before Moncler announced it would acquire Stone Island in a transformational move — opening the door to becoming a multi-brand group after nearly two decades of rapid expansion under the banner of a single brand.
Related Articles: Moncler Buys Stone Island in Transformative Move VOICES 2020: Fixing the Fashion System Moncler to Stage Genius Show in China in Pandemic Pivot
Find out more about #BoFVOICES here. To contact The Business of Fashion with comments, questions or speaker ideas please email podcast@businessoffashion.com.
Sign up for BoF’s Daily Digest newsletter.
Ready to become a BoF Professional? For a limited time, enjoy 25% discount on an annual membership, exclusively for podcast listeners. Simply, click here, select the Annual Package and use code PODCASTPRO at the checkout.
For all sponsorship enquiries, it’s: advertising@businessoffashion.com.
Hosted on Acast. See acast.com/privacy for more information.