Revolve Festival Draws Celebs, Plus Balenciaga’s New Hamburg Store & Jacquemus’ Playful Pool Chairs
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Revolve Celebrates: Revolve Festival returned this weekend.
A more intimate affair, the e-tailer was celebrating its 20th anniversary with a much smaller guest list this year. The production, though, was just as big. Performers on day one included Don Toliver, Ice Spice, PinkPantheress, Siobhan Bell, Amaarae and Honey. Day two brought out City Girls and 21 Savage.
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“We’ve been kind of reminiscing a lot, honestly,” said Raissa Gerona, chief brand officer. “And we’ve activated in the desert now — with Revolve Festival it’s been officially six years — but bringing influencers, this is going to be our 10th year. Looking back at how it’s evolved so much, it’s really incredible.”
It was a mix of big-name influencers, music and Hollywood names who joined Gerona, and Revolve founders Michael Mente and Mike Karanikolas, including: Kendall Jenner (who had 818 Tequila flowing), Hailey Bieber (who provided a Rhode beauty claw machine), Shay Mitchell (with her companies Onda Tequila Seltzer and Béis on site), Suki Waterhouse, Camila Morrone, Leonardo DiCaprio, Lewis Hamilton, Lori Harvey, Paris Jackson, Storm Reid, Saweetie, G-Eazy, Aimee Song, Camila Coelho, Chriselle Lim, Draya Michele, Natalia Bryant, Leon Bridges, Emma Roberts, Evan Mock, Idris Elba, Irina Shayk, Jasmine Tookes, Josephine Skriver, Teyana Taylor, Tyga, YG, Olivia Culpo, Madison Bailey, and sisters Charli and Dixie D’Amelio.
Partnering with The h.wood Group, the daytime parties were Saturday and Sunday from 2 p.m. to 7 p.m., just in time for guests to head to the Coachella grounds a few miles away to catch headliners Blackpink and Frank Ocean, respectively.
On Friday, Revolve held a pool party at The Colony Palms Hotel and Bungalows in Palm Springs, where the company hosted its “friends and family.” They had a gifting suite available, decking everyone out in Revolve wear. — RYMA CHIKHOUNE
GRAY MATTER: Balenciaga brought its “raw architecture” concept — which exalts aged concrete floors, stained metal fixtures, exposed ventilation and unfinished walls — to its new boutique in Hamburg, Germany, which opened Monday.
The two-story unit at 20 Neuer Wall spans about 5,800 square feet and carries the brand’s menswear, womenswear, accessories, bags, jewelry and eyewear.
The French fashion brand, controlled by Kering, also operates stores in Munich and Berlin. The Hamburg addition brings the number of Balenciaga stores in the world to 299.
The brand shared images of the store empty, extolling what it calls an “atemporal setting, not associated with one particular era.” Its intentionally rough surfaces and “simulated corrosion” certainly stand in contrast to the stereotypical codes of luxury — acres of rare marble and gleaming surfaces.
A bench by Tejo Remy for Droog Design, composed of vintage and deadstock Balenciaga fabrics strapped tightly together, offers a touch of color and texture to the uniformly gray environment.
Polished shelving, floor-to-ceiling mirrors, and digital screens will “punctuate the vacated effect with modernity,” according to the brand.
In line with Kering’s ambitions to reduce its environmental impact, Balenciaga said its raw stores are “are designed with respect to existing structural elements resulting in stores inherently consuming fewer virgin materials.”
Balenciaga, which went quiet in the wake of its advertising scandal last year, seems to have resumed normal brand communication after its return to the runway last March — a low-key show that dialed down the provocation to put the focus on the “art of making clothes.” — MILES SOCHA
Sunny Days: Simon Porte Jacquemus is known for his vibrant celebration of Provençal living, so it makes sense that his first foray into interior design includes a pool chair in a sunny striped fabric.
Jacquemus collaborated with Italian company Exteta to launch a reedition of Gae Aulenti’s Locus Solus outdoor furniture, designed in 1964. The four pieces launched on Monday, just in time for the Salone del Mobile in Milan, and are available exclusively on the Jacquemus website and at its store on Avenue Montaigne in Paris.
“I have always dreamed of developing a furniture line,” Jacquemus said in a statement. “I’m a great fan of designer chairs and I have collected Gae Aulenti vintage chairs for many years, ever since I saw them in the movie ‘La Piscine’ by Jacques Deray. I wanted to add a Jacquemus touch to the chair, with a yellow striped fabric inspired by ‘80s beach mattresses and umbrellas.”
Prices start at 1,188 euros for a Locus Solus chair in an off-white structure and yellow striped fabric, and rise to 5,940 euros for the matching sun lounger. Exteta originally relaunched the collection in 2017 and offers the items in a variety of colors and fabrics.
Jacquemus is famous for his playful store designs, which include a giant popcorn machine and automatic lockers dispensing handbags. He also designed a café and a restaurant that reflected his fascination with everything Mediterranean.
The Gae Aulenti furniture line launched in tandem with a capsule collection titled Objets, designed to complement the Le Raphia collection, presented in Paris in December. It includes vases, plates and trays in soft leather and earth tones, in addition to hair pins shaped like flowers and leaves, and key rings featuring leather cutouts of everyday objects like a knife and fork.
In addition, the designer curated a selection of the photographs and books that inspired his collection. They include photos shot by Lucien Clergue, including a rare portrait of Pablo Picasso at the Fréjus corrida in 1962, priced at 4,800 euros, and vintage books from David Hockney, Tarsila do Amaral, René Burri, Luis Barragán and Claude Nori, among others. — JOELLE DIDERICH
Nordstrom Numbers: The brothers at the top of Nordstrom Inc. both saw their compensation fall last year as incentive pay from 2021 was not repeated and their stock option awards were reduced.
Erik Nordstrom, chief executive officer, and Peter Nordstrom, president and chief brand officer, each saw their 2022 take fall 46 percent to $3.5 million, according to the company’s proxy statement.
The brothers, great-grandsons of the company’s founder, received largely identical pay packages, including salaries of $758,500 and stock and option awards valued at $2.7 million.
In 2021, they both received stock and options valued at $3.7 million as well as $1.9 million in incentive pay.
The stock-based compensation is dependent on the company’s Wall Street performance, tying executive pay to the stock movements that impact investors.
The retailer noted in the statement, filed with the Securities and Exchange Commission, that roughly 85 percent of the CEO’s target pay last year “was variable or linked to our financial or market results.”
That theoretically leaves much of the Nordstrom’s pay in their own hands, although there is only so much even top executives can control in the topsy-turvy world of retail today.
Two Nordstroms as well as chairman Bradley Tilden addressed some of the broader landscape in a letter to shareholders that was included with the proxy.
“In 2022, we marked 121 years since John W. Nordstrom opened the downtown Seattle shoe store that would become Nordstrom as we know it today,” the trio said. “121 years may seem like an arbitrary milestone, but in an industry that’s constantly reinventing itself, you learn not to take a single day for granted.
“Our company has navigated this ever-shifting landscape by focusing on a collective purpose: to help customers feel good and look their best,” they said.
“This focus has proven especially critical in the face of challenges or periods of rapid change, and 2022 was no exception,” they said. “We started the year with a plan to improve inventory flow, increase the speed and efficiency of our supply chain and sharpen our focus on driving top- and bottom-line growth at Nordstrom Rack.”
This year, the company is working on the Rack more, to boost inventory productivity and continue to optimize its supply chain while making sure its resources are matched up with the best opportunities, a factor cited in relation to the closure of Nordstrom’s Canadian stores.
And the company’s going to have a little extra help in the boardroom to work on its plan having named Eric Sprunk, former Nike Inc. chief operating officer, as a director in a separate announcement on Monday. — EVAN CLARK
Pay Slip: Martin Waters, chief executive officer of Victoria’s Secret & Co., saw his total pay slip 3 percent to $12.5 million last year, according to a regulatory filing by the company.
The vast majority of that take came in stock awards that vest over time and were valued at $9.5 million, an approach that ties Waters’ compensation to the fortunes of stockholders.
Waters — who has been transforming the company, revamping its brand image and integrating the $400 million-plus Adore Me acquisition — received a $1.3 million salary as well as $1.8 million in total incentive and bonus pay.
Public companies detail executive compensation in their annual proxy statements filed with the Securities and Exchange Commission. The filing is designed to give shareholders information ahead of the firm’s annual meeting, which will be held this year on May 25.
A letter from Waters and the Victoria’s Secret chair Donna James said the company was two years into a five-year turnaround.
“In 2022, we declared our goal to be the world’s leading fashion retailer of intimate apparel and defined the three pillars of our strategy to achieve that goal: strengthen the core, ignite growth [and] transform the foundation,” the duo wrote. “We are listening to our customers and revolutionizing and diversifying their experience from the sizes and products they can buy, to the way they shop in our stores and online, the talent they see us champion and the brand content they interact with on our channels.”
To prompt additional growth, the company bought Adore Me, invested in Frankies Bikinis and also formed a partnership with size-inclusive brand Elomi last year.
More of the same is on Victoria’s Secret to-do list.
James and Waters said they planned to continue “adding new brands to our portfolio through strategic investments and building a market collection to complement and enhance the Victoria’s Secret and Pink assortments, enhance our customer and category reach and access new capabilities.” — E.C.
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