WHY COUTURE CLIENTS KEEP BUYING SIX-FIGURE GOWNS
How designers brought the antiquated craft of haute couture into the future at the shows in Paris
How designers brought the antiquated craft of haute couture into the future at the shows in Paris
“Nobody really needs couture, to be honest,” said Demna after his Balenciaga haute couture show this week in Paris. No, most people do not need a bespoke gown that costs six figures and takes highly trained petites mains thousands of hours to make by hand. And yet.
Partaking in the official haute couture fashion week in Paris—which is rife with arcane rules about how the clothes are made—can pay off handsomely for the few designers left in the club. For the 15 or so brands that invest in the game, including Dior and Chanel, couture can multiply press and red-carpet opportunities, and have a trickle-down effect on sales of ready-to-wear and beauty and fragrance.
Then there are the orders, which can total in the millions for a single client. Wealthy couture diehards fly in for the shows and then quickly convene in cosseted showrooms to make their selections while munching macarons. Competition can be fierce, especially when a stylist nabs a gown early on for, say, Cardi B. When you’re paying this much to look unique, no one wants a duplicate.
Couture is famously over-the-top, and this season was no exception, with rampant feathered capes, obscuring hoods and trailing trains. But philanthropist, creative director and avid couture client Fredrik Robertsson told me he found the looks very wearable this season: “less PR showstoppers and more things people actually want.” He pointed to the calmer suits and cocktail dresses at Schiaparelli, which has in the past paraded out looks such as one bearing a faux lion’s head .
Couture can sag somewhat under the weight of its history. Craftsmanship, fashion’s favourite buzzword, can be a burden too, with designers feeling the need to embellish every gown with hand-embroidered butterflies and panoplies of pearls. But the following five looks show how a range of designers are making couture relevant today.
Demna, who goes by a mononym, is perhaps the contemporary designer most intent on bringing couture into the future. While he’s never far from Cristóbal Balenciaga’s archive—with its dramatic shapes and volumes—he’s also a student of streetwear. So the subcultures he reveres, from goth to skate kids, were present in his deceptively casual designs. Would the founder of the house turn in his grave at metal-band T-shirts masquerading as couture? Maybe not once he realised they were in fact hand-painted over a period of several days.
This top and skirt ensemble is made from unstitched cotton-jersey elements, which are then assembled and sewn together, and knotted on the model. It is a wearable sculpture, with the casual look of a pile of T-shirts.
Chanel, which is between creative directors after the departure of Virginie Viard, showed its haute couture collection at the Opéra Garnier. While many of the looks echoed the vibe of the classic theatre—including a sumptuous pink silk opera coat—some of the most successful moments were surprisingly dressed down. Robertsson, the Swedish couture client, exclaimed, “Chanel even had sweatpants!”
Shown on model-du-jour Amelia Gray Hamlin, the black Chanel sweatsuit was not technically a sweatsuit. It was a wool crepe jersey set trimmed in duchesse satin ruffles and organza. It was also shown in cream, and it will sell.
Maria Grazia Chiuri, one of the only female designers making couture, showed an elegantly restrained collection in a room filled with shimmering artwork by Faith Ringgold, who died earlier this year. Nodding to an Olympic year without being too heavy-handed, Chiuri presented Grecian-inspired draped dresses, flat lace-up sandals, and sporty tanks and bodysuits.
This long asymmetrical dress in cream-coloured silk jersey over a tank top is almost sporty, and a refreshing break from some of the more hobbling ensembles on display this past week. But that’s no ordinary tank top: It’s embroidered with silver-coloured micro-tube beads that have hematite-clawed jewels on them.
Daniel Roseberry, the charming Texan who’s revamped a dusty Parisian couture house, is a true believer in the art of couture. But he’s also savvy about its press potential, so this season, the show didn’t start until paparazzi magnets Kylie Jenner and Doja Cat had arrived.
The house’s founder, Elsa Schiaparelli, was a surrealist innovator who collaborated with her friend Salvador Dalí on one of the first trompe l’oeil garments . Roseberry continues his predecessor’s taste for trickery in his work. This jacket is embroidered all over with what appear to be small white feathers, but are in fact 10,500 silk-organza snippets. Because each “feather” is handmade, the jacket takes over 7,000 hours of work to create. Worn over a pair of smart black cropped pants, it’s almost work appropriate.
Jean Paul Gaultier, which maintains a healthy and bustling couture business, has adopted the clever strategy of inviting buzzy non-couture designers to collaborate on its collections. Simone Rocha, Glenn Martens, Olivier Rousteing and Chitose Abe of Sacai have all worked it out on the remix with Gaultier. Nicolas Di Felice, the artistic director behind Courrèges’s Pinault-backed renaissance, was up this season.
Di Felice, whose friends span Paris’s creative industries, brought his cool-kid approach to Gaultier. Many pieces featured couture details like rows of hook-and-eye closures, and partially hidden tulle corsets. But there were Di Felice signatures, too: koala-pouch front pockets, narrow trousers, tiny party dresses. This cheeky gown is carefully constructed to look like the top slip is falling away to reveal a bustier.
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The latest round of policy boosts comes as stocks start the year on a soft note.
China’s securities regulator is ramping up support for the country’s embattled equities markets, announcing measures to funnel capital into Chinese stocks.
The aim: to draw in more medium to long-term investment from major funds and insurers and steady the equities market.
The latest round of policy boosts comes as Chinese stocks start the year on a soft note, with investors reluctant to add exposure to the market amid lingering economic woes at home and worries about potential tariffs by U.S. President Trump. Sharply higher tariffs on Chinese exports would threaten what has been one of the sole bright spots for the economy over the past year.
Thursday’s announcement builds on a raft of support from regulators and the central bank, as officials vow to get the economy back on track and markets humming again.
State-owned insurers and mutual funds are expected to play a pivotal role in the process of stabilizing the stock market, financial regulators led by the China Securities Regulatory Commission and the Ministry of Finance said at a press briefing.
Insurers will be encouraged to invest 30% of their annual premiums earning from new policies into China’s A-shares market, said Xiao Yuanqi, vice minister at the National Financial Regulatory Administration.
At least 100 billion yuan, equivalent to $13.75 billion, of insurance funds will be invested in stocks in a pilot program in the first six months of the year, the regulators said. Half of that amount is due to be approved before the Lunar New Year holiday starting next week.
China’s central bank chimed in with some support for the stock market too, saying at the press conference that it will continue to lower requirements for companies to get loans for stock buybacks. It will also increase the scale of liquidity tools to support stock buyback “at the proper time.”
That comes after People’s Bank of China in October announced a program aiming to inject around 800 billion yuan into the stock market, including a relending program for financial firms to borrow from the PBOC to acquire shares.
Thursday’s news helped buoy benchmark indexes in mainland China, with insurance stocks leading the gains. The Shanghai Composite Index was up 1.0% at the midday break, extending opening gains. Among insurers, Ping An Insurance advanced 3.1% and China Pacific Insurance added 3.0%.
Kai Wang, Asia equity market strategist at Morningstar, thinks the latest moves could encourage investment in some of China’s bigger listed companies.
“Funds could end up increasing positions towards less volatile, larger domestic companies. This could end up benefiting some of the large-cap names we cover such as [Kweichow] Moutai or high-dividend stocks,” Wang said.
Shares in Moutai, China’s most valuable liquor brand, were last trading flat.
The moves build on past efforts to inject more liquidity into the market and encourage investment flows.
Earlier this month, the country’s securities regulator said it will work with PBOC to enhance the effectiveness of monetary policy tools and strengthen market-stabilization mechanisms. That followed a slew of other measures introduced last year, including the relaxation of investment restrictions to draw in more foreign participation in the A-share market.
So far, the measures have had some positive effects on equities, but analysts say more stimulus is needed to revive investor confidence in the economy.
Prior enthusiasm for support measures has hardly been enduring, with confidence easily shaken by weak economic data or disappointment over a lack of details on stimulus pledges. It remains to be seen how long the latest market cheer will last.
Mainland markets will be closed for the Lunar New Year holiday from Jan. 28 to Feb. 4.