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Business of Fashion
a day ago
- Business
- Business of Fashion
Tracee Ellis Ross: Understanding the Diversity of Humanity is Good Business
Listen to and follow the 'BoF Podcast': Apple Podcasts | Spotify | Overcast Background: When Tracee Ellis Ross launched Pattern Beauty in 2019, she set out to challenge the beauty industry's lack of products for curly, coily and tight-textured hair. Despite numerous obstacles, including scepticism about market viability and systemic biases in the product testing process, Ross has built Pattern into a leading haircare brand addressing an underserved market. 'Black beauty and textured hair was not being mirrored back as a celebration but instead it was a problem,' Ross shared. '[Pattern] is to allow people to have the access to their most beautiful hair and self in their own bathroom as opposed to having to always trust a professional.' During her conversation with BoF founder Imran Amed at The Business of Beauty Global Forum 2025 in Napa Valley, California, Ross shared her journey from Hollywood actress to entrepreneur, detailed the systemic changes she's driving in the haircare industry and emphasised the importance of humanity in business building. The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Accept Key Insights: Ross described her early struggle with understanding and accepting her natural hair as a deeply personal and emotional journey. 'Making sense of how my hair grew out of my head was difficult,' she said. 'I had to master and understand and gain a sense of love and celebration in my hair.' This experience became the foundation for her brand Pattern, which aims to shift the narrative around textured hair from one of difficulty to one of pride and empowerment. Ross articulated how the standard beauty narrative has often required Black women to erase parts of themselves to be seen. 'There's a part of beauty and beauty culture that has been about erasing who we are in order to fit in,' she said. Through Pattern, she seeks to change that narrative by celebrating individuality and authenticity: 'I want people to have their hair. They just need the right products to support their hair. That's what doesn't exist.' Pattern was not an overnight success born of celebrity privilege — it took a decade of perseverance, rejection and self-education, Ross said. 'There's this myth that I was this famous actress who had lots of money to start a company — garbage,' she said. 'I'm a Black actress in Hollywood. Let's be clear about my finances.' While products are at the heart of Pattern, Ross stressed that her brand is rooted in community, identity and purpose. 'Pattern is about allowing people access to their most beautiful hair, their most beautiful self, in their own bathroom,' she said. 'You have an opportunity to take all that wasted space not serving this customer and turn it into money, purpose, and value.' Additional Resources:
Business of Fashion
13-06-2025
- Business
- Business of Fashion
Hailey Bieber on Building Rhode into a Billion-Dollar Beauty Brand
Listen to and follow the BoF Podcast: Apple Podcasts | Spotify | Overcast Background: When Hailey Bieber launched her beauty and skincare brand Rhode in 2022, it quickly built a loyal customer base and achieved rapid commercial success. By early 2025, Rhode had generated $212 million in annual sales and, in May, was acquired by E.l.f. Beauty in a landmark $1 billion deal. 'Rhode is not just about the product; it's the whole entire world of Rhode. I want people to feel something when they get the products. When they use it, I want them to feel that they are a part of something,' Bieber shared this week at The Business of Beauty Global Forum 2025 in Napa Valley, California. 'I really do see us being a legacy brand. Rhode is going to go down as one of the greats.' In her first public appearance since the acquisition, Hailey spoke with The Business of Beauty's executive editor Priya Rao about launching her brand, how the deal with E.l.f. transpired, and her vision for the future of Rhode. The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Key Insights: Rhode is intentionally positioned as more than a skincare brand. 'It's not just about the product, it's the whole entire world of Rhode,' Bieber said. She envisions the company evolving into a lifestyle brand with editorial flair and cultural relevance beyond just beauty. In building Rhode, Bieber looked past traditional beauty incubators and industry insiders and instead focused on building a close-knit team with a fresh perspective. 'I knew I wanted to put my own money into it. I knew I always wanted to be the majority owner,' she said. The result is a brand that feels 'super curated and tight' — an intentional strategy to maintain clarity and control. The $1 billion sale to E.l.f. Beauty was not a quick decision. Bieber was deliberate about finding a partner that respected Rhode's DNA. 'Rhode is like my baby; I'm so precious about it. The idea of ever even considering [a sale] was a very big deal to me,' she said. Bieber underscored the importance of personal connection and integrity in building a brand that resonates. 'I am Rhode and Rhode is me,' she said, explaining that the brand's tone, aesthetic and communication all reflect her own sensibilities. 'That's why I always say, Rhode is my world. It doesn't feel like a job to me.' Bieber said she is building Rhode for the long haul, something that endures, rooted in authenticity and longevity rather than trend-chasing. 'I really do see us being a legacy brand,' Bieber said. 'Rhode's going to go down as one of the greats.' Additional Resources:
Business of Fashion
30-05-2025
- Business
- Business of Fashion
Giancarlo Giammetti on Securing Valentino's Legacy
Listen to and follow the 'BoF Podcast': Apple Podcasts | Spotify | Overcast Background: Giancarlo Giammetti met Valentino Garavani by chance on July 31, 1960, setting in motion one of fashion's most enduring — and most successful — creative partnerships. Together, they transformed Valentino into a global fashion powerhouse, celebrated for its elegance, craftsmanship and cultural influence. In 2016, Giammetti co-founded the Fondazione Valentino Garavani e Giancarlo Giammetti to preserve their remarkable legacy, promote creativity and foster charitable initiatives. This week in Rome, BoF founder and CEO Imran Amed had the honour of sitting down with Mr. Giammetti at PM23, the newly opened home of the foundation, located right next to the Valentino headquarters where their journey together first began. In this exclusive interview, Mr Giammetti reflects on the founding days of Valentino, the importance of protecting creativity in a fashion market that prioritises commercialisation and why it's critical for the industry to support future generations of designers who are overlooked by a fashion system under pressure. 'This continuous change of people, using people to cover jobs … it makes a big confusion. None of them really becomes a part of the legacy of the company. That's what is a big problem today,' says Giammetti. Key Insights: Giammetti highlights the strength of his decades-long partnership with Valentino, emphasising their deep personal and professional connection. 'We grew up related so much to each other that we cannot be separate,' he says. 'Even when we had some rupture in our private life, after a while, we kept our family. That's why we have such a big family — because all of our friends became friends of our family with us.' Giammetti expresses concern about the fashion industry's current state, noting the disconnect between creative integrity and business pressures. 'Designers have become their own stars, they have their own style, and they don't want to really become a witness to the work of the companies where they are hired to prolong life – they want to work for themselves,' he says. Giammetti believes in preserving the heritage of fashion through new means. 'I hate fashion museums. I think that to see all the mannequins like Madame Tussauds look really like wax things. I don't think there is a life inside,' he says. 'With digital work, you have to work with that to project your legacy in a different way.' Giving advice to aspiring creatives, Giammetti encourages young designers to remain true to themselves and avoid distractions. 'Be yourself. Don't get distracted. You have to believe in yourself and do what you want.' The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Additional Resources:
Business of Fashion
27-05-2025
- Business
- Business of Fashion
Beauty Is in Its Flop Era
Listen to and follow the BoF Podcast: Apple Podcasts | Spotify | Overcast Background: The beauty sector historically thrived during economic downturns, earning a recession-proof reputation encapsulated in the 'lipstick index.' However, recent earnings from major beauty conglomerates like Estée Lauder, L'Oréal, Coty and Shiseido indicate that beauty's resilience is being tested. Sales are declining, layoffs are coming and consumer habits appear to be shifting dramatically. BoF Senior Beauty Correspondent Daniela Morosini joins Brian Baskin and Sheena Butler-Young on The Debrief to examine what's driving this slowdown and how the industry is adapting. Key Insights: Traditionally, small luxury purchases like beauty products thrived during economic pressure. But the landscape has changed. 'Prices have really, really grown, and there's just so much more to choose from,' says Morosini. The combination of escalating prices, excessive market saturation, and a shift to online platforms like Amazon and TikTok has diluted the impact of small luxury indulgences. 'It's really hard to get seen. So even if you have a more affordable product that more people can afford, you still have to get people to come and look at you and come and interact with you,' she adds. Brands once benefited from consistent replenishment and customer loyalty. Today, consumers are more transient, constantly seeking newness. 'Customers seem to have this insatiable appetite for more products and more newness,' Morosini notes. But after years of heavy consumption, shoppers are starting to tire of new for the sake of new. 'Something that's really starting to come into focus is that, specifically, American middle-class shoppers are starting to buy fewer beauty products – and that's having a big knock-on effect.' As consumers become more price-sensitive, brands need to redefine value beyond just pricing. Morosini suggests brands return to basics, emphasising their core strengths and fostering loyalty through consistent, quality products rather than frequent launches. 'People are really, really attuned to perceptions of value,' says Morosini. Additional Resources:
Business of Fashion
23-05-2025
- Business
- Business of Fashion
Inside The Great Luxury Reset
Listen to and follow the 'BoF Podcast': Apple Podcasts | Spotify | Overcast Background: Instead of his usual place in the host's seat, BoF founder and CEO Imran Amed appears this week as a guest in an interview with Jonathan Wingfield, editor-in-chief of System Magazine, alongside Luca Solca, senior research analyst at Bernstein — as featured in the debut issue of System Collections. This conversation was recorded on March 14, about two weeks before Donald Trump's shock announcement of so-called reciprocal tariffs on countries around the world, most notably China. Together, Amed and Solca explore major shifts in the global luxury market, the growing fatigue with high prices and mass production, and why creativity, innovation and strategic alignment between business and creative leadership are more crucial than ever. 'These companies are run by human beings, and if you don't give people incentives to change, they will kill you. If you see that you're making as much money as you like, and the business is as good as it ever was, then you probably will not change very much,' says Solca. 'I think that adjusting to a more normal environment is causing a lot of soul-searching and is getting these companies back in line.' Amed adds: 'Where brands work best is where there is that impeccable alignment between the creative leadership and the business leadership. Many creative directors feel like a lot of decision-making and creativity is being dictated to them rather than being in conversation with them. And I think that's what we need to see now.' Key Insights: Excessive price hikes and product ubiquity are causing consumer pushback. Amed says, 'When customers look at a €10,000 bag that used to cost half of that, there's real pressure because the value proposition no longer adds up.' The industry's future success depends on brands' abilities to innovate and excite consumers. Solca stresses, 'If people need to pay these prices, they must be excited; they need to feel they haven't seen these products yet, and that they desire them.' Amed adds, 'Brands need to inject new creative energy to get customers excited again.' In a stagnant market, luxury brands can no longer rely on organic demand and must instead compete aggressively for market share. 'In order to grow now, brands need to actively win market share from competitors,' says Imran Amed. This shift has forced operational changes across the industry. 'Fashion shows are getting smaller, not just for intimacy, but also to cut costs,' he adds. Luca Solca agrees: 'You need to take into account that a lot of the costs in this industry are fixed ... When sales decline by as much as 20 percent, you really need to cut the fixed portion of your costs.' Maintaining exclusivity remains challenging yet essential. As Solca puts it, 'The nature of the industry is that you need to sell exclusivity or perceived exclusivity.' He warns that high visibility can backfire for smaller brands: 'We've seen it a number of times; smaller brands hit gold, but at one point, they succumb to that very success because they become too visible and people move elsewhere. They tend to be a bit of a flash in the pan or face a glass ceiling around €2 to 3 billion, which is very difficult to break through.' Effective luxury strategies hinge on strong creative-business collaboration. As Amed explains, 'Where brands work best is where there is that impeccable alignment between the creative leadership and the business leadership.' He continues, 'Many creative directors feel like a lot of decision making, a lot of creativity is being dictated to them rather than being in conversation with them. And I think that's what we need to see now.' Additional Resources:
