Oscar de la Renta’s Post [Video]

Transcript

It's a very unconventional but special way of showing our collection. Thank you everybody. This is how Oscar de la Renta does Fashion Week 2023, an exclusive lunch for the luxury labels 50 best Customers, the high rollers they are treated to. An early look at the new line direct to consumer. We are very focused on talking directly to our customers. Fashion Week was set up years ago really to deal with wholesale community and the fashion media, CEO Alex Bolin says the decision to. Abandon a traditional show is the result of lessons learned during the pandemic. In fact, the last time Oscar de la Renta did a Fashion Week runway show was in February 2020. COVID was a near death experience for us. We lost probably 70% of our sales in 2020. Thank God we have. We've bounced back from that, bounced back, and then some, Bolin says. Last year, sales and profits were their highest ever, and this year is on pace to do even better. What do you mainly attribute that to? Well, look, I think. I attribute it to me like not sleeping for about like 6 weeks and worrying that we're gonna have to file for bankruptcy. I mean, I literally thought, like what the hell are we gonna have to do? Part of what Bolin and his team have done dressed the stars on their biggest nights. At the VMA's last week, Selena Gomez literally sparkled in her red lace. Oscar de la Renta. Thank you to all of you for listening for streaming. I could not be more honored as she accepted the award with Rima for best Afro beats. Among those cheering the loudest? Her friend Taylor Swift, who herself wore 2O dresses on her eras tour. It's a production in itself to get a garment ready for center stage. The day before the VMAs we were there as Gomez's dress was fine-tuned for its big reveal. How big of a part of your business is dressing high profile people? It's an increasingly important part of our business. Mulan gave us a tour of the labels Midtown headquarters 25 stories above Times Square, Part design studio, part factory, part showroom and while an Oscar dress usually runs north. $2500, The brand is increasingly focused on jewelry and perfume to attract a new customer at a more accessible price point. The 100 bucks part, you know, the earrings, the rings, these are, these are parts that you know have really expanded our customer base. We've been able to talk to much younger customers by offering this product and it's working. The company has outgrown its retail space on Madison Ave. and just last week signed a new lease for 80% more space. Four blocks to the South, we think that New York City is is the center of our world and so this will be our global flagship. We should open early next year. Your digital business, how important is that for telling your story and getting your message out? I cannot underestimate the importance of digital. We've got about 7 million followers on Instagram and this is a key way for us to tell our stories.