From time to time the fashion industry is known as a large market that has an influence on the world economy. In fact, a Michele Obama admits that fashion is a business or a career that involves precise calculations and science that is not easy. This time Popbela invites you to learn from 5 lines high fashion success shines again after going through a hard time. Get Inspired, Bela!
This fashion house from Florence, Italy emerged in 1921 when its owner Guccio Gucci decided to sell bags to customers saddle the horse. Family disputes in the 1970s and 1980s made Gucci’s business conditions chaotic and had nearly gone bankrupt in 1993. Thanks to Tom Ford, in 1994 he was appointed creative director of Gucci. With De Sole, president and chief executive this fashion house, they focus on developing Gucci women’s clothing until 2015 revenue is at 4 billion Euros. Impressive!
Did Bela know that an iconic fashion line like Chanel also had a hard time in 1945? In the middle of the second world war, Chanel was forced to close couture househer while still producing perfumes and accessories. It took a long time, namely 9 years for Chanel to come back again when this fashion line introduced jackets tweed in 1954. Chanel was in a fashion moment again when Karl Lagerfield was appointed creative director of the line in 1983 until now. Recorded in 2014, Chanel earned revenues of 7.5 billion US dollars.
At the very young age of 18, Tommy Hilfiger started his fashion business in the late 1970s. Not long ago, this menswear line was hit by a crisis and nearly went bankrupt due to a lack of financial planning and overexpansion. It wasn’t until 1985 that Tommy was again on the fashion industry’s radar by cooperating with new investors. Tommy Hilfiger made history as the first fashion company to be listed in New York Stock Exchange that is in 1992.
One of the big challenges of fashion houses in the fashion business is being abandoned by their designers. This is what happened to Balmain when Oscar de la Renta died in 2014. Balmain faced the possibility of bankruptcy because an investor did not fulfill his commitments. One year later, the owners of Balmain decided to use a new face, namely Christophe Decarnin as creative director. Now, the millennial figure of Olivier Rousteing who is still 24 years old is starting to bring Balmain shine again by increasing sales to 121.5 million Euros in 2016.
By carrying out a minimalist style, Calvin Klein’s business journey looked smooth at the beginning of its appearance in 1977. Seemingly successful on the surface, it turned out that this fashion line was hit by a lot of debt and almost went bankrupt in 1992. thanks to David Geffen, an entertainment businessman who brings new nuances through advertising underwear CK which is quite controversial. What is clear is that Calvin Klein made 2.9 billion US dollars last year. With a new spirit, CK finally has chief creative officer first named Raf Simons.
“Fall seven times, stand up eight”