Vetements Hui Highsnobiety: "Are We Selling Well?"

Buyers of Saks Fifth Avenue, Harrods and Jefferey New York are all in support of Vetements.

In March 29th, the trend media Highsnobiety released an article entitled "2 years after they broke the Internet, it looks like nobody like". Many anonymous sources say that the company is losing fans and retailers' favor. Anonymous sources are widely distributed, such as "a buyer" or "front door store manager". These people say that the move to Zurich is due to selling too badly, and at the same time lacking innovation and high price.

Once the article came out, it immediately caused sensational discussions on the Internet.

Three days later, Vetements chief executive Guram Gvasalia finally sat down, and stood up to respond directly to the fact that the news reported by Highsnobiety was not true.

Issued in Guram

In a statement, he pointed out that the company's performance exceeded market expectations, and sales rose by over 50% in the latest fiscal year compared with the previous year.

Vetements CEO Guram Gvasalia

Vetements's statement on Instagram

In the statement, Guram boldly attacked the news media environment. He wrote: "the news industry we see today is really sad. In the contemporary era, they publish the report by attracting click through rate, and our brand name in the title can undoubtedly attract clicks, let alone a negative news headline.

It's a pity that we may be disappointed with those sprout, because the fact is that the status quo of Vetements can't be better, whether it's creativity or sales volume, so we can't go bankrupt. The speculation about Vetements sales data is not only a fact, but also constitutes a libel.

Guram points out: "sadly, some journalists prefer to report false news and attract traffic with gimmick headlines, but never seek facts to show the full picture of events.

What is particularly shocking is that some fashion bloggers are attacking the brand names of young brands by attacking their young independent designer brands for their advertising budget.

Many news media that should have been serious should be turned into gossip and gossip blogs, reporting hearsay views and fabricated stories as facts.

Vetements 2018 spring summer series

Vetements creative director Demna Gvasalia

In this regard, Highsnobiety also issued a statement to the women's wear daily, but it did not indicate whether the author had verified the authenticity of the source, or sent a request for comment to Vetements before publication.

Highsnobiety wrote: "Vetements is not completely immune to the problems faced by contemporary independent designer brands. What we are analyzing in this paper is whether they can maintain the ability of marketing and publicity and their influence on young consumers.

Although we can not measure its credibility in the streets, we have noticed the rapid decline of Vetements in the global trend reports. Most of the buyers we have contacted are working on small independent retailers. They need to rely on the ability of a brand to measure whether they have the order value and whether they meet the needs of the target consumers.

The situation now is that brands like Vetements will never survive in the hands of bigger and more mainstream retailers, which is a big blow to their belief in the authority of the industry.

Although Vetements is far from dead, it has been "over" for many people in the industry.

When Highsnobiety released the article, the picture was MyTheresa's buyer manager Tiffany Hsu wearing Vetements photos, Tiffany Hsu also responded by Instagram that she was still ordering for Vetements, and said that since 2015, Vetements has been an important part of the performance of the MyTheresa, and other buyers besides her have the same view.

Highsnobiety article title

Jeffrey Kalinsky, the founder of Jeffrey New York, says they can sell Vetements products of $350 thousand to $450 thousand a year, including collaboration with Tommy Hilfiger.

T-shirts and raincoat jackets have been selling well, and most of them are sold at full price. "Whether or not you sell them at full price determines whether you want to continue paying the brand, so we are very satisfied with the sale of Vetements."

Kalinsky said.

Helen David, the buyer's director of Harrods department store, said that customers' interest in Vetements was high. In terms of turnover and expectation, sales of Vetements were four to five times higher than the original plan. "This Unicorn brand sells hoodies well, and some retailers want to get more orders."

David said, "I don't think so.

What brand is overvalued or underestimated? Everything depends on price sensitivity and how much the final consumer is willing to pay to determine the correct value of the product.

As far as Harrods is concerned, I don't think the price of this brand is too high. If it is, customers will not be willing to pay the price is the index of desire.

Vetements $924 T-shirt

When asked whether the creative director Demna Gvasalia would play a role in the sale of Balenciaga at the same time, David gave a negative reply: "these two brands can operate in parallel, and I think what he did in Balenciaga is totally different from that in Vetements."

The Webster

Rodolphe Nantas, the buyer's director, admitted that Balenciaga did sell more because of relatively low prices, but Vetements still did well. He said he had not received any complaints about pricing.

Street brands have sprung up in the past year, and even extended to the field of luxury goods. However, many attempts to create a gimmick brand by virtue of hype have been widely questioned. But David still feels that Vetements's vitality will be very durable. "If you look at the design of the first few seasons of Vetements, it is very disruptive. When a brand breaks through the original architecture of the industry, I believe this brand will never be out of date."