October 29, 2014
Beyoncé and Topshop to duet on new fashion line
In the world of celebrity endorsements, it’s hard to imagine a bigger name today than Beyoncé Knowles. The pop star and the British chain, Topshop, recently announced a 50/50 joint venture company, Parkwood Topshop Athletic, which will produce a line of "athletic streetwear" for sale in the retailer’s stores and websites.
The line, which will include clothing, footwear and accessories for dance, fitness and sports, is expected to debut in the fall of 2015.
Ms. Knowles, who was already a Topshop customer before the deal was made, said in a statement, "I have always loved Topshop for their fashion credentials and forward thinking. Working with their development team to create and produce a technical and fashion led collection is exciting and I’m looking forward to participating in all aspects of this partnership."
"We have been looking at this category as fashion inspired fitness develops, and know this is right in our customers’ heartland," said Sir Philip Green, Topshop’s owner. "Creating a partnership with Beyoncé, one of the most hard-working and talented people in the world, who spends many hours of her life dancing, rehearsing and training, is a unique opportunity to develop this category."
Topshop’s entry into athletic wear will follow Lululemon, Athleta, Macy’s, Urban Outfitters and others looking to grab market share in the space. Recently, J. Crew CEO Mickey Drexler told Bloomberg TV that his company was not planning to get into the category "because we don’t have the expertise to do that."
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Recent Discussions
Discussion Questions
Will the Beyoncé/Topshop joint venture become a fashion winner on both sides of the Atlantic? How do you expect other retailers selling athletic wear to react to the news?
Poll
Well, forgive me if I’m not exactly stopping my personal presses.
Is Beyonce a big name? Obviously.
Is this a defining moment in the history of retail? Doubtful.
Celebrity endorsements come all too easily these days, perhaps a reflection of how celebrity is created and how ephemeral it really is.
One could argue for example, that Oprah creating a designer chai for Starbucks didn’t turn the foodservice industry on its ear.
Asking me about fashion is kind of like asking Kim Kardashian about modesty, but my guess is the joint venture may sparkle for a moment but will fade into the shadow of the next “superstar.”
Oh, and if those other retailers are really selling athletic wear they will probably focus on finding an athlete to endorse their products, not Lady Gaga.
What’s interesting to me is not the Beyonce angle (although she’s bigger than big) but the apparel category. There’s a lot of evidence that athletic wear has become the new standard for casual clothing. Companies famous for their jeans are undoubtedly paying close attention to this and will need to adapt, and quickly.
Well first, Ryan—Beyoncé is hip. You need to get hip (took me years). Blending the right player with a fashion leader can provide a mix that creates a style line or offering that makes a difference and thus becomes another challenge for activewear players.
This is another trend we will see rise and fade to a flat line. The ones that stay in a growth mode with be fashion teams that really know their shoppers and cater to them first and their own egos last.
This mix will do well. Good names. Good audience following and fast trend makers.
This is not the first time a celebrity has partnered with a retailer to create a line of fashion. Is it a good strategy? Beyonce’s popularity will certainly bring attention to a line of clothes. How will other athletic wear companies respond? If they are followers, they will find another well known personality to do the same thing. Other companies will formulate their own strategies based upon the relationship with their consumers.
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Well, forgive me if I’m not exactly stopping my personal presses.
Is Beyonce a big name? Obviously.
Is this a defining moment in the history of retail? Doubtful.
Celebrity endorsements come all too easily these days, perhaps a reflection of how celebrity is created and how ephemeral it really is.
One could argue for example, that Oprah creating a designer chai for Starbucks didn’t turn the foodservice industry on its ear.
Asking me about fashion is kind of like asking Kim Kardashian about modesty, but my guess is the joint venture may sparkle for a moment but will fade into the shadow of the next “superstar.”
Oh, and if those other retailers are really selling athletic wear they will probably focus on finding an athlete to endorse their products, not Lady Gaga.
What’s interesting to me is not the Beyonce angle (although she’s bigger than big) but the apparel category. There’s a lot of evidence that athletic wear has become the new standard for casual clothing. Companies famous for their jeans are undoubtedly paying close attention to this and will need to adapt, and quickly.
Well first, Ryan—Beyoncé is hip. You need to get hip (took me years). Blending the right player with a fashion leader can provide a mix that creates a style line or offering that makes a difference and thus becomes another challenge for activewear players.
This is another trend we will see rise and fade to a flat line. The ones that stay in a growth mode with be fashion teams that really know their shoppers and cater to them first and their own egos last.
This mix will do well. Good names. Good audience following and fast trend makers.
This is not the first time a celebrity has partnered with a retailer to create a line of fashion. Is it a good strategy? Beyonce’s popularity will certainly bring attention to a line of clothes. How will other athletic wear companies respond? If they are followers, they will find another well known personality to do the same thing. Other companies will formulate their own strategies based upon the relationship with their consumers.