MAGIC, the preeminent apparel trade show, has expanded over the years to include several events. There’s the Las Vegas event that happened over Valentine’s Day, the New York event from February 27th through March 1st, and a Nashville event happening from May 16 – 17 at Music City Center.
Licensing and fashion have always gone hand-in-hand. Early on, high fashion houses simply licensed their lines to retailers.
The Christian Dior: Designer of Dreams museum exhibit that is touring the world, recently finishing a stint at the Brooklyn Museum of Art, even had a section called “Customers and Licensees” that showed typed-written customer lists for the famed designer.
It was French designer Pierre Cardin that really took licensing and fashion to a whole new level. As Fortune stated in his obituary, “A licensing maverick, Cardin’s name went on thousands of products and in the brand’s heyday in the 1970s and ’80s, while goods bearing his fancy cursive signature were sold at some 100,000 outlets worldwide.”
Authentic Brands Group claimed the #3 position on Top Global Licensors for 2021 with over $13 billion in retail sales for 2020. ABG’s fashion brands include luxe fashion brands Brooks Brothers, Judith Leiber, and Herve Leger.
According to McKinsey & Co., sales of luxury goods could grow as much as 25% next year compared with 2019. Apparel is a big part of that growth especially as people have become accustomed to shopping for luxury online.
Apparel and footwear online sales increased to 35% – 40% in 2020 from 25% in 2019, according to a Wells Fargo report. Wells Fargo analyst Ike Boruchow expects e-commerce to represent more than 30% of sales—or $140 billion—within the next five to 10 years.
Luxury apparel brands like Chanel have even been active with startup collaborations. In 2018, Chanel invested in Farfetch, an online luxury fashion retailer, to augment its boutiques.
Apparel has always been a leading moneymaker for licensors and licensees.
According to the latest numbers from Licensing International, “Global sales revenue generated by licensed merchandise and services grew to $292.8 billion in 2019, a 4.5 percent increase over the $280.3 billion generated in 2018…Fashion was the third largest licensed property type at $33.8B with an 11.5 percent share, with sales having risen 4.8 percent over the previous year.”
Apparel was the top category for licensed merchandise with 15.1% in Licensing International’s breakdown.
New apparel deals are announced almost daily.
Just in the past few weeks, Strawberry Shortcake signed a new apparel license with Unique Vintage, PUMA, and L.O.L. Surprise! have released another apparel and footwear collection, NASCAR and FaZe Clan are teaming up for a clothing collection for the season-opening Busch Light Clash, while Oreo and Champion launch a limited-edition fashion collection.
Fashion brands are even finding new ways to share and extend their apparel reach. Ralph Lauren recently showcased their clothing line in the metaverse, creating a digital clothing collection for Roblox avatars. OshKosh has become the first apparel sponsor for TIME/Nickelodeon Kid of the Year.
And well-known brands are becoming fashion brands. Last year, Ferrari, known for its high-end luxury cars, launched its first full fashion collection by Rocco Iannone who worked at major fashion houses Armani and Dolce & Gabbana. SpongeBob SquarePants recently got an haute couture makeover.
Fashion is the outward expression of what matters to us. Miuccia Prada said, “What you wear is how you present yourself to the world, especially today, when human contacts are so quick. Fashion is instant language.”
And with connections, both in-person and virtual, becoming even more instantaneous, brands of all kinds have become fashion and apparel staples.
And that’s the true MAGIC.
As a seasoned expert in the fields of licensing, fashion, and apparel, my extensive knowledge and experience uniquely position me to delve into the concepts mentioned in the article about MAGIC, the prominent apparel trade show, and the broader industry trends.
Let's break down the key concepts addressed in the article:
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MAGIC Trade Show:
- MAGIC is highlighted as the preeminent apparel trade show that has expanded over the years.
- It encompasses events in various locations, including Las Vegas, New York, and Nashville.
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Licensing and Fashion:
- The article emphasizes the historical connection between licensing and fashion.
- Early on, high fashion houses licensed their lines to retailers.
- Pierre Cardin is mentioned as a pivotal figure who elevated licensing in the fashion industry.
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Authentic Brands Group (ABG):
- ABG is recognized as a major player, ranking #3 on Top Global Licensors for 2021 with over $13 billion in retail sales for 2020.
- Luxe fashion brands under ABG include Brooks Brothers, Judith Leiber, and Herve Leger.
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Luxury Goods Sales and E-commerce:
- McKinsey & Co. predicts a potential 25% growth in sales of luxury goods compared to 2019.
- The shift to online shopping is evident, with a notable increase in apparel and footwear online sales, reaching 35%–40% in 2020.
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Collaborations and Investments:
- Luxury brands like Chanel are actively engaging in startup collaborations, such as the investment in Farfetch.
- Ralph Lauren's foray into the metaverse, creating a digital clothing collection for Roblox avatars, exemplifies innovative approaches.
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Global Licensing Industry Statistics:
- Licensing International's data reveals that global sales revenue from licensed merchandise and services reached $292.8 billion in 2019, with fashion being the third-largest licensed property type at $33.8 billion.
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Recent Apparel Deals:
- The article mentions the continuous flow of new apparel deals, including partnerships with brands like Strawberry Shortcake, PUMA, L.O.L. Surprise!, NASCAR, FaZe Clan, Oreo, and Champion.
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Fashion Brands Diversification:
- Established brands are expanding into the fashion realm, as seen with Ferrari launching its first full fashion collection and SpongeBob SquarePants receiving a haute couture makeover.
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Metaverse and Digital Presence:
- Ralph Lauren's venture into the metaverse illustrates how fashion brands are exploring digital avenues to showcase their collections and engage with a broader audience.
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Fashion as Expression:
- The article concludes with a quote from Miuccia Prada, emphasizing the role of fashion as an instant language and a means of expressing oneself.
In conclusion, the article provides a comprehensive overview of the dynamic and evolving landscape of the fashion and licensing industry, showcasing the intersection of traditional practices with innovative trends and the influence of technology on brand expression.
