Birkenstock Still Slides, DVF’s Ginger Fix, Boosting South Asian Art – WWD

STILL SINKING: Birkenstock continued to look for — and not find — traction during its second day on the New York Stock Exchange. 

Shares of the German sandal maker fell another 6.6 percent to $37.55 on Thursday. 

That left the stock down 18.4 percent from its IPO price of $46. 

The company is still worth a pretty penny with a market capitalization of $7.1 billion — where owner L Catterton was said to buy the company at around 4 billion euros in 2021. 

And Birkenstock continues to be seen as a compelling story with growth in both sales and adjusted profits. But the stock decline signals that the wave of consumer IPOs that was hoped for in some corners just might not be ready to crest yet.

Among the companies that are seen as preparing for an offering are Kim Kardashian’s Skims, the Softbank-backed Vuori and the Permira-backed Golden Goose, among others. 

Each company has its own story to tell, but it seems like they are stories that would be easier to tell later on when shoppers are on firmer ground. 

The economy has held on better than most hoped this year, with consumers continuing to spend despite high interest rates and inflated prices, but the outlook is still clouded and more concerns are popping up across the spectrum. 

Luxury leader LVMH Moët Hennessy Louis Vuitton saw a revenue gain of just 1 percent in the third quarter after much stronger growth in the first half. Chief financial officer Jean-Jacques Guiony said it was too early to know if it was a lasting change. “Time will tell depending on the depth and the length of the cycle, whether it was a real cycle in consumption or merely sort of blip after three extraordinary years; obviously, consumers as well have to take a pause,” Guiony said.

But nobody wants to launch their company onto Wall Street during a pause. — EVAN CLARK

JUST FOR KICKS: When Diane von Furstenberg swept through Brussels earlier this year for an exhibition at its Fashion & Lace Museum, she offered visitors to her interview suite a bracing glass of Gimber.

Turns out the organic and alcohol-free ginger concentrate is Belgian, like von Furstenberg, and a collaboration was in the works.

“I am a huge fan of ginger so I wanted to try Gimber,” von Furstenberg said, noting she met the founders while she was in town for the exhibition opening and other festivities. “I loved it so we designed the label.”

Her sleeve design adds a cheerful, designer touch with the highly recognizable prints found on her signature wrap dresses, an integral element of the Brussels retrospective.

The bottles launched recently on Gimber.com and at fine food and concept stores in Belgium, the Netherlands and France.

Dimitri Oosterlynck and Sylvie Schollier founded Gimber five years ago in their kitchen in Tubize, eager to provide an alternative in a world where there are social pressures to gather around alcohol.

“I love ginger because it’s a root,” von Furstenberg enthused. “It is pungent, provocative and healthy. I personally love to drink it with hot water…also with cold sparking water.”

Gimber characterized the “surprising collaboration as the result of a meeting between two strong women with the same positive mindset. Sylvie and Diane share the same ambition to make a difference, each in her own field.”

“Her unparalleled vitality is truly impressive,” Schollier said of von Furstenberg. “However, it is her sharpness, resourcefulness and kindness that set her apart from the rest.”

Asked about her indefatigable nature, the designer mused: “My energy? Not sure where I get it. Love for life? Honoring life?” — MILES SOCHA

BOOSTING SOUTH ASIAN ART: Art is in the air in London as Frieze kicks off.

Anita Chhiba, founder of Diet Paratha, the Instagram account that celebrates South Asian identity, has teamed with Boss to host a one-off exhibit showcasing the work of 13 artists from the diaspora at the brand’s flagship store on Regent Street.

Chhiba handpicked the artists, who include Farheen Fatima; Anika Leila; Fourth St. Home; Unza Saleem; Abid Javed; Jemisha Maadhavji; Furmaan Ahmed; Puer Deorum; Waldia & Co.; Howareyoufeeling.studio; Shyama Golden; Navinder Nangla, and Firpal.

The collaboration came together organically when the director of public relations and marketing for Northern Europe at Boss, also of South Asian descent, attended an event that Chhiba had hosted at Soho House in Mumbai, where the two women connected.

“At the beginning of my career, when Diet Paratha was taking off, it was only South Asian people that were writing about me. Representation is really important because it has to start from the inside out and only meaningful change can be made from the inside out. I always understood that to be true, but when it started to really impact me, that’s when I was like, ‘We are actually just so much stronger together,’” Chhiba said in an interview.

“We wanted to really honor the South Asian creative community and what better way to do it than Frieze, it’s such a prestigious art fair,” she added.

The main floor of the Boss store is showcasing digital artwork, paintings, photographs and installations that can be purchased, with the profits going directly to the artists without anybody taking a cut.

Chhiba worked with the brand to ensure all the vendors on the opening party Thursday night were from creative South Asian communities that spotlight the culture, from catering from the restaurant Bubala, and event photographer to the DJ set, which Harveen Rai, otherwise known as Vnee, played.

Nangla, the artist behind the “Fashion Is My Pashion” graffiti artwork, displayed his visual art that steers away from what he’s known for.

Ahmed, a set designer and sculpturist that Chhiba frequently works with, has made candle sticks for the exhibition that she describes as “weird and wonderful.”

Digital artist Firpal’s colorfully psychedelic work is also on display. The artist recently collaborated with Skims on a limited-edition summer capsule featuring their work.

Chhiba is just as much a collector of the art she’s supporting. In her living room, a golden egg from Rukaiya Daud, the artist behind Fourth St. Home, takes center stage.

Daud is exhibiting her limestone, brass and steel eggs, which are currently stocked on Net-a-porter.

Another artist on display inside Chhiba’s home is Maadhavji, whose portraits of a NHS worker landed her a spot on BBC One’s “Extraordinary Portraits.”

“The older I get the more in touch with my identity I become and that’s why I started Diet Paratha, but I also love consuming South Asian art and stories. I am the customer,” said Chhiba, explaining that she feels positively about the efforts that the creative South Asian communities are making in getting their voices heard and are finally being taken seriously.

“I hope it allows, not only the South Asians access to this, but others to see art by South Asian artists,” she added.

The overarching theme of the exhibition for Chhiba is to invoke joy. — HIKMAT MOHAMMED

AUSTRALIA WINNER: Cue Clothing Co. founder and chairman Rod Levis has won the Australian Fashion Laureate for Lifetime Achievement.   

The announcement was made at a lunch at Bennelong restaurant at the Sydney Opera House on Thursday, during the 2023 edition of the Australian fashion industry’s most prestigious awards event. 

Eighty-one-year-old Levis founded the midmarket fashion chain Cue Clothing in 1968. Today, the company operates around 200 stores in Australia and New Zealand and is Australia’s largest local fashion manufacturer, with the majority of manufacturing still done onshore. With an eye to supporting emerging talent, in 2013, the company acquired a majority stake in Australian designer Dion Lee and manages the business side of the brand. The award was accepted by Levis’ two children, Cue Clothing Co. executive directors Melanie and Justin Levis. 

Established in 2008 by Australian Fashion Week organizer IMG, in partnership with the New South Wales government’s tourism and events company Destination NSW, the awards recognize excellence in achievement across the industry, in consultation with a wide industry panel. 

Designer of the Year was won by Christopher Esber, who made his Paris Fashion Week runway debut on Sept. 28.

Lisa Havilah, chief executive officer of Sydney’s Museum of Applies Arts & Sciences, which operates the Powerhouse Museum, won the Carla Zampatti Award for Excellence in Leadership — an award introduced in 2021 to honor Zampatti, who died in April that year. The Powerhouse has staged a number of fashion retrospectives and supports emerging talents by providing studio space through its Creative Industry Residents Program. Current residents include multidisciplinary designer Jordan Gogos and the First Nations Fashion + Design collective. 

Alix Higgins and Denni Francisco, who designs under the Ngali label, won the Emerging Designer and Indigenous Designer categories, respectively, while Kit Willow Podgornik, of the KitX brand, won the Sustainable Designer award.

“The Australian Fashion Laureate champions the best in Australian fashion and this year’s winners showcase the diversity of skilled creatives and professionals who have contributed to Australian fashion’s cultural and economic impact” said Natalie Xenita, vice president, managing director of IMG Fashion Events and Properties, Asia-Pacific. — PATTY HUNTINGTON

TODD’S EXPANSION: Todd Snyder is continuing to roll out retail.

During a presentation of his spring 2024 collection in New York on Wednesday, he revealed that he will be opening two more stores in California early next year, in South Coast Plaza in Costa Mesa and the Marin Country Mart in San Francisco.

Snyder, who operates 14 stores around the U.S., said: “Our number-two and number-three markets are Los Angeles and San Francisco,” prompting him to seek space to serve customers in those communities. His top market is New York, where he has units in NoMad, Rockefeller Center, TriBeCa and Williamsburg, Brooklyn. He already operates boutiques in The Grove in Los Angeles and Hayes Valley in San Francisco.

Snyder had initially wholesaled the menswear brand when he launched his eponymous collection 12 years ago. But over time, he decided to sell it exclusively in his own stores and on his e-commerce site. Although the designer did not rule out one day selling the line to other stores, that’s not in the cards right now. Instead, the focus is on expanding his collection and adding stores where appropriate.

Case in point, the spring offering will include a couple of additions, such as bags and a larger assortment of shoes, the latter of which he introduced last year. For spring, slides and espadrilles will be offered.

Snyder’s spring collection is titled “La Playa” and was inspired by a vintage photo he found of Gary Cooper and John Wayne from the ’50s at Acapulco’s famed Hotel Los Flamingos decked out in resortwear.

That translated into tunics with mandarin collars, leisure jackets, mesh tops, long dressy shorts and oversize pleated trousers. Linens, dobbies, ribbed cottons and mesh were prevalent throughout the line and complemented the more-dressy gabardine trousers and boxy blazers. There were also cargo shorts in suede, printed rayon shirts and a dark chocolate gabardine suit. — JEAN E. PALMIERI

BEHIND THE STARS: Jeremy Murphy is detailing his life as a former magazine editor in a new book.

Murphy, the former editor in chief of CBS’ Watch! Magazine, has penned a book titled “Too Good to Fact Check: Flying the Skies With Stars, Scotch and Scandal (Mostly Mine),” with cowriter Sophia Paulmier to detail his work and experiences at the magazine. 

The book, which is being published by Post Hill Press in March, recounts Murphy’s travels, photo shoots and many memories with celebrities like LL Cool J, Neil Patrick Harris, Julianna Margulies, Harrison Ford and others, offering humorous anecdotes and an inside look at Hollywood.  

 “I didn’t think I had this book in me, but in recalling that insane decade I realized I had so many ridiculous stories I can laugh about now that the statute of limitations has passed,” Murphy said. “These are memories I’ve never shared, and I’m frankly surprised I can still recall given the over-the-top lifestyle I’d come to enjoy. ‘Too Good to Fact Check’ is a diary, love letter, stand-up act and mea culpa in one book, and great way to become un-employable.”

On cowriting the book, Paulmier stated: “Jeremy told me about this idea and I was fascinated, but not sold until he [told] me a couple of crazy stories; I could not believe what I was hearing. Bringing this to life was a challenge that intrigued me. We spent months recreating this decade through his voice and memories, and the end result is a genuine, character-rich narrative that brings readers back to the highest era of pop culture.”

Murphy, who spent 14 years as a vice president at CBS, previously wrote the book “F-ck Off, Chloe: Surviving the OMGs! and FMLs! in Your Media Career,” a guide to navigating a career in media. He is also a screenwriter and is the founder of New York-based PR agency 360bespoke. — LAYLA ILCHI

TIME FOR LUNCH: Lidia Bastianich was going to make sure that no one went away hungry.

The celebrity chef was the guest of honor at an HSN holiday luncheon Wednesday at her Becco restaurant in New York’s theater district.

Although the initial plan was to have guests munch on passed hors d’oeuvres, when Bastianich realized everyone had taken a seat at the long table in the back room and was hungry, she immediately told the kitchen to start serving some of the restaurant’s most famous dishes including pasta, breaded shrimp, stuffed mushrooms and Caesar salad.

“These people need to be fed,” she said.

Once everyone was full, she returned to the original intent of the event, which was to lead the group in the making of their own parfait di Fragola e crema, or strawberry and cream parfaits.

Bastianich is one of the newest additions to HSN’s roster of celebrity partners and her collection of cookware will be among the company’s key offerings for holiday.

Rob Robillard, chief merchandising officer of HSN, said: “We like our celebrities.” In addition to Lidia’s Kitchen products, HSN will be highlighting pajamas from Jaclyn Smith, outerwear from Kathy Ireland and G by Giuliana as well as sparkly holiday outfits from Christian Soriano’s C Wonder. Other key brands include Warm & Cozy and Tarte cosmetics.

“Our customers want basics with a twist,” he said.

HSN actually started promoting its holiday assortment on Sept. 25 and Robillard said sales so far have been robust. “We’ve seen incredible results so far.”

After leading the group through making the parfait, Bastianich signed copies of her latest cookbook, “From Our Table to Yours,” for the attendees. The book, which she wrote with her daughter Tanya Bastianich Manuali, features more than 100 favorite family recipes, some of which have been modernized to today.

Although kale had its place in her family’s cupboard growing up, it was generally cooked. But young people today want kale salad, she said, so she included a recipe for that. “As we enter a new phase, food evolves,” she said. — J.E.P.