Monday, 19 June 2017

Tom Ford company not for sale!

Tom Ford has recently presented his spring menswear in a private appointment in Milan. Speaking about the calendar of shows, Tom Ford said:

“But this time I am showing in New York in September. A proper show, a proper runway. Proper everything. And, I am going to stay there for a few seasons. I tried quite a few different ideas. I tried to fight the whole thing but it didn’t work. The problem is that the fashion season is not on the same calendar as the show season. When I did Buy Now Wear Now in September normally those clothes would have been in the store in June or July, but I had to hold them and lost that six or eight weeks of selling. And, already in October we had to start markdowns, meaning reducing prices when my clothes had only been in our stores for six weeks. So, we lost a lot of time and that was the problem,” he shrugs.

Last year, Ford’s beauty business achieved sales of 750 million a year at retail, up 52% in a year. Yet, Ford cautioned:  “We have very tight distribution with our eyewear. Yes, our price point is high. Yet, we sell 1.5 million frames per year. We are growing rapidly, but in a very controlled way.”

He declined to talk about precise results, but insisted, “We have a very good company, but I am not going to talk money now.” Still, it is common knowledge that hedge funds have eyed Ford’s business, given its impressive sales growth, designer talent and rock star reputation.

“I built my own business so I could do my own thing. And make movies, and show when I want. I left Gucci with enough money to not work for the rest of my life. So, I like doing what I do. So, I am not for sale.”

Tom Ford Tom Ford Spring Summer 2018 (Milan) Tom Ford Spring Summer 2018 (Milan)

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