Profit

The relationship between commercial gain and art in fashion has seen a change in the approach brands around the world operate with statistics like revenue in the Fashion market is projected to reach US$768.70bn in 2023 (Statista, 2023) portraying its change in significance it holds today. 

In the 1980s, there were possibly just two collections per year, but in 2020, an astounding number of up to 32 collections can be the norm (Mitterfellner, O., 2023), which enables the understanding of the impact that the concept and importance of profit has risen over the years in the fashion industry. The creative director has become a position of high prestige and its importance, especially in recent times, has grown as the idea of marketing a brand, not just the product, has become the initiative, and Karl Lagerfield work is a perfect representation of this. Various sectors within a brand have to work together in order to communicate with the consumer, and Karl’s work on Fendi when he joined in 1965 embodies this idea. Karl Lagerfeld turned around the idea of fur being a heavy, serious and dusty representation of a rich man’s wife to a fashionable, light, young and playful luxury item… he changed the drape of the coats, played with the lengths, the shape of the sleeves, embellished and decorated and combined different types of fur in a light-hearted yet elegant manner (Mitterfellner, O., 2023). Karl’s work on the design and manufacturing of the fur coat helped Fendi continue their reign as one of the top fashion houses in the world. But it does not end there, he also designed the famous FF logo, transforming the brand’s name into a highly marketable and recognisable logo (Mitterfellner, O., 2023). The relationship between the creative director and the various sectors within a brand can help evolve the brand as a whole, further impacting the brand’s commercial performance. This can be further evaluated when considering a creative director’s actions in uncertain economic times, like MCM in the 1990s.The MCM monogram was considered to be more popular than Louis Vuitton but with the financial crisis in Asia, MCM suffered a major blow and was abandoned by financial creditors, the founder was made to leave, and the brand was sold for a negligible amount and put up for administration. When MCM was picked up by Sung-Joo-Kim the brand was resuscitated and became successful again through its new approach in marketing in modern times. 

To conclude, brands today can bridge the gap between commerce and creativity through their creative directors instatement and how their creative process matches up with the current times can prove to be what makes them profitable. Their relationships with various sectors within the business can maneuver their position above competitors as well as in the eyes of consumers.  

Reference List:

Mitterfellner, O. (2023) Chapter 6 – Decline and Resuscitation of Luxury Fashion Brands  

Mitterfellner, O. (2023) Chapter 2 – From the Creative Director to the Fashion Show.

Statista, Fashion – Worldwide, 2023.