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Thursday, August 25, 2011

Tom Ford Japan

On 15 October the Tom Ford label will open their fourth retail door in Japan at the soon-to-be newly renovated Yurakucho Hankyu Men’s.

The other Tom Ford stores in Japan are in Hankyu Men’s at Umeda Hankyu, Isetan Men’s in Shinjuku, and the most recently opened Mitsukoshi in Ginza.

Tom Ford a favorite designer of mine is best known for his turnaround of the Gucci fashion house and the creation of the Tom Ford label before directing the Oscar-nominated film A Single Man, but can his success as a designer and director transfer to that of a retailer in Japan?

With the stagnated Japanese economy and the shift away from luxury brand labels to fast-fashion still continuing are there really enough customers in Japan to support four Tom Ford stores? After all how many people in Japan are really buying off-the-rack suits for 500,000 yen and bespoke suits from 1 million yen?



3 comments:

  1. It's like luxury exhaustion. I'm sure there's a market there for another store. Tom Ford may be greedy but he's not stupid. Do you think Japan is starting to shun luxury? I just can't imagine people saying 'I'm done with silk. Bring me poly/cotton'.

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  2. Nigel, Thank you for your comment. The Japanese consumer is not shunning luxury just becoming more discerning and less free spending. Unfortunately retail-wise the luxury brands are not keeping up with this and continue opening new stores. There will always be a customer but just not enough to support each brand's extensive retail network i.e., Louis Vuitton 41 stores. Hermes 44 store. Chanel 36. Each of these brands has more stores in Tokyo than the do in the entire United States. A different market I know but Japanese consumers are not consuming enough to make each store profitable.

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