Peter Hawkings - Designer, Creative Director of Tom Ford

It seems that the main goal with Zegna has with Tom Ford is to strengthen the brand's womenswear segment. My best guess is that Zegna aims to use the Tom Ford brand to act as a "feminine counter-energy" in the company next to the more menswear-focused Zegna and Thom Browne.
What to Watch: The New Course of Tom Ford Fashion
Eyes will be on the debut of Peter Hawkings as creative director of the brand, licensed to the Ermenegildo Zegna Group, and the newly appointed CEO Lelio Gavazza.

By LUISA ZARGANI
AUGUST 31, 2023, 12:01AM


MILAN — Peter Hawkings will unveil his first collection as creative director of the Tom Ford brand on Sept. 21 at 9 p.m. CET during Milan Fashion Week — and it is one of the most awaited debuts this fall.

Hawkings is certainly not new to the label, as he began working with Ford in 1998 as a menswear design assistant at Gucci, going on to become the senior men’s designer at the company. He left Gucci in 2006 to join Ford in the launch of his eponymous brand, where he oversaw the design and production of menswear, eventually adding accessories including eyewear, bags, shoes and jewelry. Most recently, he was senior vice president of Tom Ford menswear.

Ford showed his final women’s collection last April and, upon the appointment that same month, he described Hawkings as “an incredibly talented leader with tremendous industry experience,” which led him to be confident that his own “commitment to creating fashion products with the highest level of design and quality will continue.”

Given his proximity to Ford, observers imagine Hawkings’ first collection will indeed be aligned with the brand’s aesthetic and vision. But clearly a lot is at stake for the Ermenegildo Zegna Group, which is responsible for all of Tom Ford’s fashion business. Fresh off the success of Thom Browne’s first couture show in Paris and closing the first half of the year confirming its 2 billion euro sales target by the end of fiscal 2025, chairman and chief executive officer Gildo Zegna said in July that he is focused on propelling Tom Ford Fashion to stand among the top 10 luxury fashion names in the world.

To help achieve that, Zegna has named Lelio Gavazza to the newly created position of chief executive officer of Tom Ford Fashion, effective Sept. 18. He brings more than 20 years of experience in global luxury, joining from LVMH Moët Hennessy Louis Vuitton, where he is currently executive vice president, sales and retail at jeweler Bulgari.

At the time of his appointment in July, Gildo Zegna touted Gavazza’s “world-class business acumen,” his “track record of strong global leadership” and his “outstanding luxury expertise” across retail management, wholesale distribution, marketing, digital and key markets, including China, expressing his confidence that the executive will “prove invaluable” in the development of the fashion brand globally.

Tom Ford and chairman Domenico De Sole will continue to serve as brand advisers through the end of the year.

The Estée Lauder Cos. acquired Tom Ford’s company last November in a deal valued at $2.8 billion. Under Lauder, Ford’s men’s and women’s ready-to-wear is licensed to Zegna, which previously held the license for menswear since around 2006. At Lauder, Guillaume Jesel is Tom Ford’s president and CEO.

With this deal, Zegna, which is listed on the New York Stock Exchange, is venturing into new territory: In addition to Ford’s men’s and women’s rtw, Zegna is now licensed for Ford’s accessories and underwear, fine jewelry, childrenswear, textile and home design products. Zegna Group will be in charge of the end-to-end Tom Ford Fashion business, from collection creation and development to merchandising through to production, as well as retail and wholesale distribution. Marcolin holds the perpetual license for Tom Ford eyewear.

Tom Ford’s fashion operation is expected to create synergies for Zegna, which also owned a 15 percent stake in the company, and will allow it to strengthen its womenswear segment. Gildo Zegna has repeatedly said he was not looking to expand the Zegna brand into womenswear.

As reported, a rebound in China and momentum in the U.S. and Europe helped the Zegna Group report a 23.9 percent growth in revenues to 903 million euros, reflecting the consolidation of Tom Ford International starting from April 29, as well as the consolidation of tannery Pelletteria Tizeta.

In the period from April 29 to June 30, Tom Ford Fashion reported revenues of 64 million euros.
 
He sounds like a really sweet and balanced guy in the interview. Im interested to see his debut and a more synced women's and mens.
 
I’m more excited for this show than Gucci tbh and I think he understand quite well the challenges of a brand like Tom Ford. There was indeed a disconnect between menswear and womenswear and he tells it like it is. I think it’s fantastic that he is working with Marie Chaix as her styling is not linked to her personal style in the way that Carine’s is. It will allow him to look at Tom and his work with a lot more distance.

Tom Ford menswear has been quite flamboyant in the past few years and because of it success, it also has it formula. The challenge for him will also be to refresh it.
 
So tonight is the show...Interestingly, Marie Chaix is styling it, not Carine.
Interview with Peter here: “I Feel Like I’ve Been Preparing for This My Entire Life”—Peter Hawkings Is Ready For His Tom Ford Debut
Full article:
“I Feel Like I’ve Been Preparing for This My Entire Life”—Peter Hawkings Is Ready For His Tom Ford Debut

BY MARK HOLGATE
September 21, 2023


Peter Hawkings, the recently appointed creative director of Tom Ford, cuts a dashing figure in a crisp ivory suit, possibly the most pristine white v-neck tee I have ever clapped eyes on, and tinted aviator shades (I forgot to ask if they were prescription, or simply sunglasses) when we meet at the brand’s London HQ in early September. He was, until his appointment in April, an almost entirely unknown figure, but that is all set to change when Hawkings makes his debut this Thursday in Milan with his Tom Ford show at the Palazzo del Ghiaccio.

Understandably, Hawkings, 49, was pretty tight-lipped about what he was actually going to present, not wanting to spoil it. “Stop digging, Mark!” he said, laughing, when I tried for the umpteenth time to get a sliver of info about the collection. Yet what is apparent is his absolute joy at following in the footsteps of a designer (and a good friend) he reveres, and a brand he loves. (And to show his support, Ford will be at the show.)

Of course, Hawkings’s connection to Tom Ford—the man and the brand—goes way back: He has only ever worked for Ford, designing menswear, first at Gucci, and then at his namesake label, starting some 25 years ago. Hawkings also met his wife, Whitney Bromberg—nowadays better known as the founder and CEO of Flowerbx—at Gucci (back then she was Ford’s senior vice president of communications). The couple have now been married for 18 years and have three children: sons Barron, 15, and Snowdon, 13, and daughter Wallis, 7.

Something else Hawkings is readying himself for in his new role: Having to talk about his work. This was to be his first interview, and I am not sure who was more nervous—me or him. On reflection, perhaps the former: Hawkings is charming, down to earth, and with a keen sense of humor. He might have wanted to keep schtum about his debut, but otherwise, he had plenty to say.

Vogue: Talk me through how you see Tom Ford—your Tom Ford?

Peter Hawkings:
Obviously it’s a huge responsibility to move the brand forward while respecting Tom and the legacy that he’s created. I worked with Tom for 25 years—so many of his codes and design references have become ingrained in me. I’ve used that to create my own codes—of glamour, sexiness, elegance, and beauty. What’s really important as well is to have the men’s and the women’s collections closer together—for them to be unified.

When you mention your vision, I’m assuming those four linchpins you mentioned are part of it. They’ve also been part of Tom’s vision. How do you plan to tweak them, make them yours?

I built the men’s. Tom was very gracious—he let me run with it—and that’s what I’m doing again, in a certain sense. There are codes that I’ve built into the menswear—it’s like a club: Obviously the handmade buttonhole on the lapel, the 18 hours of hand work, the obsession with details—and that’s what I wanted to give to the women’s.

The women’s, under Tom, had a fabulous bravura quality—whatever vibe Tom was feeling that season—while I always thought the men’s, perhaps by dint of who it was aimed at, felt rather more unchanging.

Absolutely—100 percent. That’s what I wanted to do with the menswear, and that’s exactly what I want to do with the womenswear: for it to evolve, not go crashing from one place to another, to another, to another. That continuity—that consistency of understanding who the man and the woman are—that’s very important to me.

I do think we can get a bit exhausted by trend after brutal trend—and we saw the whole embrace of quiet, Succession luxury. Do luxury brands perhaps need some stabilizing—maybe that’s the wrong word, but maybe an image for your customer that’s less constantly changing?

Exactly—that’s it. For me, it’s a question of drumming home a message and keeping some consistency. Otherwise, people are like, What is this? Where are you? Who are you? Where are you going? The branding, the imagery, the Instagram, the website—the whole world it should speak to—should have some kind of continuity. It’s about dressing the man and the woman, both on the red carpet and in real life. This Tom Ford couple is quality-obsessed, unafraid of being the most glamorous pair in any room, and supremely confident in their style, their look, and their beauty. Historically, the Tom Ford man wasn’t the one that would naturally be paired with the Tom Ford woman, but my hope is that we bring these two worlds closer together so they coexist visually and ideologically together.

In terms of crystallizing the image of womenswear, who are you talking to? Whitney [Hawking’s wife]? People inside or outside the office?

Both—friends, though Whitney is my number one: She’s my rock, my everything. It helps, I guess, that she was Tom’s right hand for 20 years and has lived all of this before. I’m also incredibly lucky to have an amazing team who are as obsessed with quality, luxury, details, and modernity as I am. On my men’s team, Christopher Rawstron is my right hand and has been amazing and such a support—as has all my team. We push each other, and it’s so healthy. I think it’s really great. I never want to be surrounded by “yes” people. It’s really important to me that Whitney’s honest with me, my team is honest with me, and I’m honest with them. I’m not dictatorial. I’m also super grateful and happy to be working with Marie Chaix, the stylist. She challenges me in a good way and makes me look at things in a new way, which is invaluable—to have someone who pushes you out of your comfort zone.

How’s she doing that for you?

Marie encourages me to take an idea and keep pushing it to the max—while I might feature a specific look in one or two exits on the runway, she helps drive the idea home by repetition in different colors and fabrics. She’s very professional, but also very militant [laughs] about editing and taking away as much, if not more, than she’s adding on.

Marie’s an interesting collaborator, because she’s not an obvious choice. She has a rigor to her work, but I don’t equate it with the world of Tom Ford.

There needed to be a change. Her eye is very interesting, and without me even saying—before she even came into actually working with the clothes and the brand—she just got it. We were on the phone with each other and she was sending me images, inspiration, ideas, and we were both completely on the same page. You never know when you first start working with someone—obviously it can go one way or the other—but we are building a great working relationship.

So talk to me, Peter, about how you’re going to show the collection. Obviously Tom had a very specific, and I thought very cinematic, way of showing his collections—the whole in-the-spotlight thing—ever since Gucci.

I loved the glamour of that—and I hope that in this show there is a nod of that. This season, one of my inspirations was Donyale Luna, the first black supermodel (Editor’s note: A new documentary Donyale Luna: Supermodel is now available on HBO.) She was a muse to Warhol and to Avedon, who photographed her constantly and became her manager. I am fascinated by her mysteriousness and her masterful control over her body—and the way she owns anything she wears in her unique way. She is feline, mysterious, supremely elegant, and has a covert but undeniable sexiness in her ’70s glamour which I have tried to capture in the casting, the cut, the fabrics, the attitude of the models, and the general mood of the show.

Of course, there’s also the spotlight that will fall on you with your debut. How are you preparing for that—the move from backstage to center stage?

It’s funny, because whilst it’s also new, it feels like a natural evolution for both the brand and for me. And whilst the pressure is huge, I feel like I’ve been preparing for this my entire life. I have been lucky enough to learn from one of the biggest brand-builders of our time, and I’m excited to use that when creating my own vision.

Why was showing in Milan important to you?

It felt like a natural choice. In a sense it’s like returning to the beginning, where I started my career with Tom at Gucci. But more importantly, Italy to me symbolizes unparalleled craftsmanship and quality—in leather goods, in tailoring, in accessories.

I want to ask you about the whole notion of sex and sexiness—it’s obviously something we associate a lot with Tom and his work, both with Gucci and with his own label.

That’s always been in the DNA, hasn’t it, of Tom Ford. I’ve thought a lot about it, and I absolutely want to embrace that when pushing the brand forward. At the end of the day, desire is what makes the world go round, and Tom Ford is synonymous with desire. That said, sexiness is subjective, and my vision of sexiness is going to be probably more subtle than Tom’s.

I was interested to read in The Guardian recently a piece about the new Yorgos Lanthimos movie Poor Things, starring Emma Stone, and the reaction to its many explicit sex scenes—the piece talked about younger generations being more comfortable than ever with showing skin, but less approving of depictions of sex that they might feel are gratuitous….

Being married to an amazingly strong woman, and having a daughter, it’s very important to me—obviously—the respect of women. As Beyonce says, they should actually run the world! Coming back to nudity, or exposure: If it’s done on their terms, and they’re in control of that, that should make a woman feel powerful and in control. To me, it is vital to make a woman feel confident. If she feels confident, she feels sexy. My goal is to empower women by helping them look and feel their absolute best.

Of course, you’re designing for men too, so we shouldn’t just be thinking about the idea of sex and sexiness as it pertains to women—will there be synergy between your women and men? Tom certainly liked a smoldering kind of vibe….

He did—and I feel like there’s been a disconnect, to be honest with you, because Tom was in LA, with a women’s team that I never saw, designing a women’s collection, and I was based here in London designing the men’s collection, checking in with Tom twice a season. Tom trusted me just to get on with it, which is great—but when it came to showtime, the disconnect between everything being done over in LA and everything being done in London, the men’s shoehorned into women’s, with the outfits and the vision of what I was doing in men’s changed to work with the women’s… that wasn’t my view at all. So bringing the Tom Ford man and the Tom Ford woman together is going to really help me create a unified aesthetic—and that makes me just feel so good inside, because it’s what I’ve wanted to do. I’m really excited to create those clothes where the image of the woman in my head is standing next to my man. Does that make sense?

Yes, completely.

Because there were so many women—I won’t tell you exactly who—back in the day when I was designing men’s who were like, Oh, I really wish you did what you do for men’s for women’s.

And your debut comes at a time when so many younger designers are riffing on Tom’s work….

Tom’s Gucci woman continues to have a huge influence, because his look at the time was so new and so modern; it has lasting relevance.

Let’s talk about you taking on this new role. It looked from the outside that Tom decided to step away from his brand and you were the heir apparent. Was that how it was?

In November, I got a phone call out of the blue from Tom, and he dropped this massive bombshell—that he was selling the company—and it was like a big encyclopedia landing on the desk. I honestly never, ever thought that Tom would ever sell. I thought he would be one of the Ralph Laurens of the world and continue and continue. So he dropped that bombshell—and then the second bombshell was that he was putting me forward for creative director. I was speechless. That night and the following night, I just didn’t sleep. Whitney didn’t either. I was like, Are you awake? And she’s like, Yeah—you awake? Yep. But when the nerves subsided, I realized that I was being given an amazing opportunity—and I and the team haven’t looked back. There hasn’t been time, to be honest. It’s just been go, go, go, go.

What’s your story about working with Tom? I know you started, what, about 25 years ago at Gucci.

Working for Tom was my first job out of Central Saint Martins. I was obsessed. I tailored my portfolio towards Tom at Gucci. I started as a menswear designer, head down, and worked my way up. And then Tom called me for Tom Ford menswear. I was employee number two after Whitney, who’s employee number one. And I basically started with a blank sheet of white paper, literally. Tom was very gracious. He was great. He let me get on with it, and I held the role of senior vice president of men’s design at Tom Ford until now, basically.

To go back further, when did you get interested in fashion?

I always had a thirst and an obsession for glamour and beauty, and I think that was driven by my mother. I’m from near Tunbridge Wells. My mother was a nurse and my father was a builder. My mother was always very glamorous and really cared about what she looked like, what we looked like as a family, how we were perceived. I remember her buying Yves Saint Laurent Vogue patterns—those patterns on that really ugly brown tissue paper. [Laughs] And she used to find these amazing antique fabrics and trims and things like that, and she was always on the sew. She could whip these things up just like that—these amazing ’60s, ’70s outfits—and the big hair and that glamour. She was always very well turned-out, and that really had an impact on me. She was also the one who taught me how to draw, how to paint. It was clear that I would pursue a career in the arts. I did a foundation course in art in Brighton—Kim Jones was there at the same time—and then from there I did a degree at Middlesex University, graduated with first degree honors, and then approached the infamous Louise Wilson [the brilliant and legendarily salty professor of fashion design at art school Central Saint Martins].

Oh my gosh. What was your interview like?

It was brilliant. She was sitting there—I mean, you knew her—and she’s brilliant. She’s got a chocolate muffin on the table, munching away at it, talking at you at the same time, bits of the muffin coming out, flying everywhere. And I loved her—just the way she was, no bullsh*t at all. It was just excellent. And I said to her—because at that point I was broke as a joke; I was working in Liberty [the London department store] selling menswear—“I hear you give scholarships out.” And she stared down at me, and she’s like, “I don’t give them out. I choose who I give them to.” She clearly liked me or my work or thought there was potential there. She did give me a scholarship, for which I have to thank for my career. And so I did my master’s at St. Martins. And then I think it was probably the glamour of my mother and those ’60s, ’70s outfits and the way she looked that attracted me to what Tom was doing then at Gucci. It just felt like a natural fit.

How was your interview with Tom to work at Gucci?

I had had an interview with John Ray [former head of Gucci menswear], who I adore and who I learned so much from. He really brought out a hell of a lot in me, exposed me to amazing elegance and chic things. He clearly liked me and my work, and he said, “I’d love you to go over and see Tom.” Got on the Eurostar, which was quite new then, to visit Tom at his offices in Paris. I took all my portfolios and this and that and the other. And Tom was very gracious—he looked through everything, he walked through everything. I don’t think he was interested, honestly, in my work, if I’m being super honest. I think that he thought that I was attractive, so he liked that. But he went through the motions, let’s say. He was very polite—he is always very polite, Tom. And then he closed the book and he said, “I think you’re going to really enjoy working with John.” And I was like, “Sorry?” And he said, “Yeah—we’d love to hire you. You got the job.” I was just on cloud nine on the Eurostar going home, staring out the window, not actually believing that I’d got the job. And 25 years later I was still with him.

What are some of your favorite moments of your time with him? What were some of the things that were particularly—

Oh my goodness—so many great moments with Tom: All the shows we used to do, the energy that used to be there at Gucci, Kevin Krier [the late fashion show producer], and putting those looks together. Working on the collections with him. Tom was very... he always let you come to the table with ideas, and challenged John and I when we were in fittings. And I paid attention to what he was doing, and to his taste level. Which is why, when I came here, I knew him so well. He could leave me to it because I’m like, “No—Tom would like that like that; he wouldn’t like that like that.” That kind of trust and knowledge.

What was the first collection you worked on with him?

Spring/summer 1999. It was a great collection. When I went to the show for the first time, I was like, “f*ck—how am I going to follow that?” But it was a total eye-opener for me, coming from doing a master’s into the real world. They don’t prepare you for that at Central Saint Martins and those kinds of places—there’s a lot of building you up, like sh*t doesn’t stick to you, and you think you’re so amazing. But at the end of the day, it’s a business. And it’s a serious one.

What about the advice that Tom gave you—does anything stand out?

One brilliant piece of advice, and I’ve always stuck to it: Never hire anyone you don’t want to go and have dinner with. It’s a brilliant one. Because the reality is, I spend most of my life in this office working with my team. And I love them like my family—they mean the world to me. Creating that environment is vitally important, because I can’t stand egos in the office. And I think that piece of advice is so true—you should feel like you want to hang out with the people that you work with. I’m here more than I am at home with my family.

Speaking of family, how has it been for you and them adjusting to this new role? Whitney obviously has her own business, Flowerbx, and you have three kids….

Whitney’s absolutely amazing. I could not be more lucky, honestly. She’s the CEO of her own brand. but the support she gives me—in fact, she makes me lunch and dinner to bring here every day—is unbelievable. She is just a force of nature. And she’s been balancing everything so amazingly for us as a family. The kids are so sweet as well, and so supportive, and understand, obviously, what’s going on, and super involved.

Are the kids coming to the show?

I would love them to come to the show, but I can’t pull them out of school.

I’m sure you have been working 24/7 for the last few months, but I know you and Whitney are also super-committed, hands-on parents—what are you doing to spend time away from work?

We just came back from a few weeks on a remote island in Greece, which was restful and restorative—it’s so important to rest and recuperate and recharge the batteries before the show and what’s ahead. And we visited the Parthenon and the temple beside it. It was so inspiring—the attention to detail and the craftsmanship and the symmetry. It’s mind-blowing, to be honest with you.

Also, seeing something that has been around for so long is a reminder that we are a speck in this infinitesimal world….

Yes—it takes you out of that self-absorption of what I’m doing, what I’m going through, all the rest of it. It was very healthy; it was heaven. And then, obviously I exercise every day.

What do you like to do?

I go to the gym, and I run to the gym, and I run home from the gym. Early, early, early. I like to get to the gym early, so I can get back home and walk Wallis to the school bus, and have that moment with her as well. But exercise and food and diet are important for endurance—and fashion. Fashion’s an endurance sport, isn’t it?

And once you’ve finished running that marathon to your first show in Milan, what happens?

To be honest with you: It’s going to be raising a glass with Whitney and my team, and thanking everyone. And then it’s back to work. It’s literally right back to work.
Source: Vogue
 
Tom Ford's opinion on Hawkings and his debut collection:
You sent me a text the other day about your successor at Tom Ford, Peter Hawkings, who worked for you for years. You mentioned how displeased you are by some of the things he’s been saying as he gets started.
I have, since, calmed down a little bit. But I read in a GQ blog or something that Peter said he was given a blank page to start Tom Ford menswear.

Yes.
It really upset me because starting Tom Ford menswear [in 2007] was one of the things I’m probably the most proud of in my entire career. I was used to being at Gucci and when I wanted something, I just had it made. And all of a sudden, I couldn’t – I didn’t have any clothes. So I brought in all the clothes from my wardrobe. I had everything made in my size. Luckily, I’m a 48 regular, which is the fitting size. So I fit all the suits on myself. Peter wasn’t able to start for a while. He was still John Ray’s assistant at Gucci. So those first few years, that collection was built on me. It was enormously personal. I literally sent my sofas out to be copied for the stores. I loaned art from my house to the stores. It was one of the things I’m the most proud of, because it was the foundation of the company. So I got in touch with him [recently]. I said, “Pete, I don’t want to say these things publicly and contradict you, but it wasn’t exactly a blank page.” I was very worked up about it. I’m less worked up about it now. When you sell your company, you’re prepared for anything. And I really am prepared for anything. Whatever direction they go, Peter’s blank page starts now. But, you know, that’s my fashion legacy. The Tom Ford company, the Tom at Gucci, the Tom at Saint Laurent – that’s mine. It’s tied up in two neat volumes with a bow.

How did you feel after talking directly to Peter?
We didn't talk. We exchanged emails because what I had to say, I wanted to say carefully, and I wanted to take away the emotion. And then I sat on the email for a day, which I think is always the best. I wasn't upset about anything he sent down the runway. I thought it was beautiful. I thought it was very well made. He was certainly in the spirit of the brand. I think women's fashion is very hard. I think now he's going to need to do something somewhat revolutionary in the way that Alessandro Michele did with Gucci. Anyway, it's easy to sound petty – I’m self-conscious in a way even admitting that I feel this way. Because I've been very lucky. I've had a great career.

Between Peter Hawkings’ debut at Tom Ford and Sabato De Sarno’s debut at Gucci, all anyone was talking about at Fashion Week in Milan was the influence of Tom Ford at Gucci.
Well, it’s very nice, but I didn’t give it a lot of thought. Fashion is cyclical. That was, God, 20 years ago. I’m glad that what I did has come back again.
Excerpt from Death, Sex and Money: the Tom Ford exit interview by GQ
 
Timothée Chamelet wearing Tom Ford by Peter Hawkings to the Wonka Movie Premiere:
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Dula Peep wearing Tom Ford by Peter Hawkings:
 
Don't particularly like the suit on Timothée. The lack of shirt isn't helping, it's such a strange "styling" choice. And frankly, a shirt can help fill in a well cut jacket even more to give it more presence so here the fit isn't adjusted to a shirtless styling. Pants are cut well though.
 
Don't particularly like the suit on Timothée. The lack of shirt isn't helping, it's such a strange "styling" choice. And frankly, a shirt can help fill in a well cut jacket even more to give it more presence so here the fit isn't adjusted to a shirtless styling. Pants are cut well though.
Men should stop the shirtless thing. I don’t know who told them it was sexy or appealing but it’s not. I cringe every time I see a shirtless man in a blazer.
 
I hope Peter doesn't change the uniform for female SA...Tuxedo with black bow-tie blouse, black peep-toe pump...So chic!
 
Zegna's Group growth strategy, concerning Zegna, Thom Browne and Tom Ford:
• Zegna Group has signed a 30-year licensing agreement for the production and distribution of Tom Ford womenswear, menswear, accessories, leather goods, accessories, underwear, fine jewelry, childrenswear, textile and home design products
• Zegna Group is aiming for growth throughout all their brands through a strengthened DTC strategy and streamlined wholesale accounts
• Zegna Group places emphasis on the aim of each brand having very different, but complimentary identities and clienteles
• Common points across the three brands are the focus on "quiet luxury" and the inclusion of made-to-measure services
• Tom Ford's goals are to met €2'000'000'000 in sales by 2026
• Tom Ford will continue to show their runway collections in Milan, creating a stronger presence in Europe and Asia
• Zegna Group is aiming to strengthen the womenswear categories at Tom Ford and Thom Browne, while Zegna will remain exclusively menswear-focused
• There's the possibility of the acquisition of factories and workshops capable of producing womenswear and leather goods
Gildo Zegna: Tom Ford Fashion Sales to Grow at CAGR Rate of 10-plus Percent in Medium Term

Zegna Group unveils updated group strategy during Capital Markets Day in New York, following Tom Ford Fashion acquisition.

By LUISA ZARGANI
DECEMBER 5, 2023, 7:06AM

MILAN
— Two years after its IPO, and on the occasion of its second Capital Markets Day, the Ermenegildo Zegna Group on Tuesday provided an updated group strategy following the Tom Ford Fashion acquisition, consolidated since April 29.

Chairman and chief executive officer Gildo Zegna said the group, beginning with the full year 2023, plans to deliver more than 10 percent compound annual revenue growth in the medium term, with adjusted operating profit CAGR of around 20 percent.

Following Zegna’s rebranding, the company expects store productivity to grow by almost 50 percent in 2023 from the 2021 baseline, ahead of its May 2022 medium-term guidance, and to gain market share globally. Zegna’s store productivity is projected to further increase at an around 10 percent CAGR in the medium term compared with 2023.

Thom Browne expects a high teens CAGR in direct-to-consumer revenues in the next years, with a streamlined wholesale distribution, doubling revenues since 2021 in the mid-term, Zegna said.

Tom Ford Fashion expects to grow its revenues by more than 10 percent CAGR in the medium term, capitalizing on the potential of the brand, “whose strength today is much larger than its business,” said Zegna, and by leveraging group synergies to fuel its growth, especially in Europe and Asia, given its already strong brand awareness and business in the U.S.

Zegna said that, compared with the group’s first Capital Markets Day held at Oasi Zegna in May 2022, he was “pleased to say that today we are ahead of the plans we presented back then by one year, following the acquisition of Tom Ford Fashion.” At the time, the objective was to reach 2 billion euros in sales in the medium term, or by 2026.

“Our financial performance today paints a very clear picture: we are a stronger, more thriving company than ever before — we achieved these results while strengthening our brands, and this despite the challenging geopolitical and macroeconomic conditions over the past two years,” Zegna said.

The executive touted the opportunities ahead of “ building on the strong portfolio of our three complementary luxury brands and on the different stages in their growth cycles.”
Gildo Zegna Touts Tom Ford Growth Opportunities, Group Scale
On the occasion of the group's second Capital Markets Day, the executive spoke of its increased contractual power and aggregated strength.

By LUISA ZARGANI
DECEMBER 5, 2023, 2:41PM

MILAN
— “Tom Ford Fashion should be one of the top 10 luxury brands globally.”

This was one of the objectives mapped out Tuesday by Gildo Zegna, chairman and chief executive officer of the Ermenegildo Zegna Group. The executive was speaking at the group’s Capital Markets Day in New York, providing an updated strategy following the Tom Ford Fashion acquisition, consolidated since April 29.

“Our scale is different now and this is fundamental,” said Zegna in a separate interview with WWD, pointing to the increased contractual power the group has as unity, leveraging its aggregated strength.

The group, beginning with the full year 2023, plans to deliver more than 10 percent compound annual revenue growth in the medium term, with adjusted operating profit compound annual growth rate of around 20 percent.

Following Zegna’s rebranding, the company expects store productivity to grow by almost 50 percent in 2023 from the 2021 baseline, ahead of its May 2022 medium-term guidance, and to gain market share globally. Zegna’s store productivity is projected to further increase at an around 10 percent CAGR in the medium term compared with 2023.

Asked during the interview to elaborate on achieving increased store productivity, the executive highlighted the importance of “format, product mix, and converting the outreach to customers into sales, strengthening sales assistants with new talent and compensating them accordingly, adding events in stores, social media activations, higher average ticket — all these applied with method and constancy contribute to success.”

Another key element at the Zegna brand was the launch of Essentials, the must-haves that never go out of stock in stores, which offer “a great competitive advantage,” he said. “This was developed from the Classic Thom Browne project and has been very successful for Zegna, too.”

While vertical and horizontal integration and exchange of information are key for the group, maintaining the autonomy of each brand is a must, he continued, and in “no way” would he consider selling the three brands under the same roof. “The customers are different and there should be no overlapping.”

On the other hand, “stores placed near each another is an interesting real estate” proposition.

Thom Browne expects a high-teens CAGR in direct-to-consumer revenues in the next few years, with a streamlined wholesale distribution, doubling revenues since 2021 in the midterm, Zegna said.

Tom Ford Fashion expects to grow its revenues by more than 10 percent CAGR in the medium term, capitalizing on the potential of the brand, “whose strength today is much larger than its business,” Zegna remarked, and by leveraging group synergies to fuel its retail growth, especially in Europe and Asia, given its already strong brand awareness and business in the U.S.

Following the first Tom Ford fashion show by creative director Peter Hawkings in September in Milan, the idea is to continue to unveil the brand’s new collections in the Italian city, “an extremely important fashion capital, at the level of Paris,” Zegna said.

“Our ambitions are high, we want to grow double-digit compared with 2021 in the medium term, and develop womenswear and accessories, and geographies” for Tom Ford, observed Zegna, noting that the brand was already “well represented” in America.

He gave a shoutout to The Estée Lauder and Marcolin companies for “the strong development” of the brand in terms of beauty and eyewear, and underscored his goal to “strengthen Tom Ford and achieve what we say, a consistent and balanced growth. We don’t want to overpromise.” This includes doubling the number of stores in the midterm and increasing their productivity.

In November last year the Estée Lauder Cos. Inc. said it was acquiring the Tom Ford brand in a transaction valuing the company at $2.8 billion. As part of the deal, the Zegna Group and Marcolin entered long-term licensing agreements for Tom Ford fashion and Tom Ford eyewear, respectively.

Zegna has had the license for Tom Ford menswear since around 2006, but with this deal the company is venturing into new territory as it will be producing and distributing all of Ford’s men’s and women’s fashion, accessories, underwear, fine jewelry, childrenswear, textile and home design products.

Zegna said that, compared with the group’s first Capital Markets Day held at Oasi Zegna in May 2022, he was “pleased to say that today we are ahead of the plans we presented back then by one year, following the acquisition of Tom Ford Fashion.” At the time, the objective was to reach 2 billion euros in sales in the medium term, or by 2026.

“Our financial performance today paints a very clear picture: we are a stronger, more thriving company than ever before — we achieved these results while strengthening our brands, and this despite the challenging geopolitical and macroeconomic conditions over the past two years,” Zegna said. He believes that the brands are “in sync with the demand for quiet luxury fashion — the future in luxury is quiet luxury.”

The executive touted the opportunities ahead of “building on the strong portfolio of our three complementary luxury brands and on the different stages in their growth cycles.”

Asked about other potential acquisitions, Zegna said that the group “is open to other challenges,” but that the focus now is on developing the Tom Ford Fashion brand. “You never know what can be on the horizon, we’ll see what the market has to offer,” he said. However, in the interview, he admitted that acquiring “or supporting” small and medium-sized suppliers that will help produce Tom Ford’s womenswear and leather goods could be in the cards.

Zegna has famously built its own vertical supply chain over the years, from Lanerie Agnona and Tessitura Ubertino or Tessitura di Novara, as well as partnering with the Prada Group on acquiring a majority stake in cashmere firm Filati Biagioli Modesto. The group’s integrated textile manufacturing facilities are also strong assets.

“There is no fashion if no industry is behind it and now we can put it at the disposal of all our brands,” the executive said, pointing to the extensive research and development of fabrics done in-house. As a group, costs and services can be shared and more talent attracted. That said, the group’s size still allows for “flexibility and speed.”

Zegna firmly denied any idea of a double listing in Milan. “We have enough on our plate, challenges and costs and the New York [Stock Exchange] is providing good enough satisfaction,” he pointed out. It has also helped strengthen awareness in the U.S., a strong market for the group.

Zegna said that replicating the growth path of Thom Browne and the repositioning of his family’s namesake brand for Tom Ford is achievable.

“In the 1980s, Zegna was identified in the U.S. with the power suit; now we are a lifestyle brand,” he said. “We have an exceptional team, I remain confident about the future, we will be able to defend ourself and attack the market.”

He touted the Made to Measure business, “our Formula 1” at Zegna — a strength that is also benefiting the Thom Browne and Tom Ford brands.

The brands are complementary, he continued, citing for example Tom Ford’s strength in eveningwear, which balances Zegna’s strong development in the casualization of tailoring.

“Womenswear is smaller at Thom Browne and menswear accounts for half of Tom Ford’s fashion business, so here lies the opportunity,” said Zegna, citing a Bain & Company/Altagamma study whereby, globally, menswear is a 65 billion euro market and womenswear a 120 billion euro market. The latter, with the 30-year license, offers a huge opportunity to the group, he explained. He reiterated once again that he has no intention to launch a Zegna womenswear line.

“Asia is very important for Thom Browne, less for Tom Ford , whose number-one market is America, and [Asia–Pacific] and [Europe, Middle East and Africa] are bigger for Zegna than Tom Ford,” he continued, pointing to additional opportunities.

During the call with analysts, in sync with his peers, Zegna said he expects increased Chinese tourist flows to Europe in the second half of next year. The performance in China has been strong also in November, he added.

As reported, in the third quarter of the year, the group’s preliminary, unaudited revenues totaled 431.1 million euros, up 20.8 percent compared with 356.9 million euros in 2022.

In the period, sales of the Zegna segment rose 12.7 percent to 297.8 million euros and Thom Browne segment revenues were up 8.5 percent to 73.64 million euros. The Tom Ford Fashion segment reported sales of 74.6 million euros. Direct-to-consumer sales rose 12.9 percent to 281.8 million, while wholesale rose 8.1 percent to 148.2 million. As of Sept. 30, the group had 635 stores, up from 503. This increase was due in large part to the addition of 121 Tom Ford Fashion stores.
Source: WWD
 
Thank you @LadyJunon!
It’s actually interesting to learn that Tom Ford fashion is 50/50 in terms of ratio between menswear and womenswear, precisely because I remarked that they were less developed in terms of womenswear in Europe. The international luxury customer goes to either Paris, London or Milan and the womenswear has been less represented.
I think that showing at NYFW ultimately made his global brand more local. They even closed the Rue Cambon store really quickly even though they had the best location in Paris for womenswear.

All they need is a strong vision with no compromises. The good thing is that they have a great balance in terms of identity for menswear and womenswear. So they can actually grow in both segments.
When I compare Tom Ford to a brand like Saint Laurent, I think that 2 billions is achievable. And at Saint Laurent, they have a weak menswear identity and offer.

Hawkings has to deliver fashion moments now to have a voice, beyond the name. And in terms of strategy, I trust Zegna.
 
I'm struggling with the identity of the Tom Ford Man right now. Even when he was completely covered in a turtle neck, Jon Kortajarena was always oozing sensuality. Ilias Loopmans and Dara Gueye are in the new campaign, and even if they are beautiful, they do not scream "Tom Ford."
 
Timothy Chalamet is incredibly over rated, he looks like a 90s coffeeshop lesbian. I prefer more ruggid, burly men
To his credit, he remains one of the few male celebrities who can actually pull off proper men's "fashion" (as in: Celine, Haider Ackermann, McQueen) with nonchalance and not just what every other male celebrity who is being praised in magazines like GQ would wear.

In order for Tom Ford menswear to expand, it's necessary for the brand to be perceived attractive both for fashion and more traditional menswear customers. Chalamet is therefor an obvious celebrity to endorse, as he represents that more fashionable menswear customer (and a more youthful democgraphic than what is normally associaed with Tom Ford) perfectly.
 
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All they need is a strong vision with no compromises. The good thing is that they have a great balance in terms of identity for menswear and womenswear. So they can actually grow in both segments.
When I compare Tom Ford to a brand like Saint Laurent, I think that 2 billions is achievable. And at Saint Laurent, they have a weak menswear identity and offer.

Hawkings has to deliver fashion moments now to have a voice, beyond the name. And in terms of strategy, I trust Zegna.

You have too much faith in this guy!

He’s already made that iconic velvet suit so annoying. He hasn’t proven nor shows the potential to offer a fashion moment. The time to have done so would have been during his debut. And all he’s shown is that he’s capable of a meek revision of Tom’s signature looks— on a cast of kidz with no presence, like every other brand out there. Absolutely no distinction. I’ve mentioned this before, but the branding is very much awkward super rich kidz raiding their much cooler parents’ wardrobe and failing to convince anyone that they’re as cool as their parents. When Tom debuted under his own name, the cast of confident women of superstars, legendary models and not meek girls in his reliable Gucci/YSL signatures with a slight vintagey vibe was all that was needed for a fashion moment without even trying.

The S/S campaign is a tepid step in the right direction. But again, the casting simply drags it back a few steps. A more mature cast instead of banal children would have elevated the imagery. The kidz whom are drawn to the brand will come whether you desperately pander to them or not. And showing respect to the reliant older customer whom have always supported the brand, whom have grown up with his Gucci/YSL/Tom Ford by casting older models— whether vets or newer older faces, would give the brand a timeless and authentic heritage— and still be able to snatch that 2 billion projection.
 
You have too much faith in this guy!

He’s already made that iconic velvet suit so annoying. He hasn’t proven nor shows the potential to offer a fashion moment. The time to have done so would have been during his debut. And all he’s shown is that he’s capable of a meek revision of Tom’s signature looks— on a cast of kidz with no presence, like every other brand out there. Absolutely no distinction. I’ve mentioned this before, but the branding is very much awkward super rich kidz raiding their much cooler parents’ wardrobe and failing to convince anyone that they’re as cool as their parents. When Tom debuted under his own name, the cast of confident women of superstars, legendary models and not meek girls in his reliable Gucci/YSL signatures with a slight vintagey vibe was all that was needed for a fashion moment without even trying.

The S/S campaign is a tepid step in the right direction. But again, the casting simply drags it back a few steps. A more mature cast instead of banal children would have elevated the imagery. The kidz whom are drawn to the brand will come whether you desperately pander to them or not. And showing respect to the reliant older customer whom have always supported the brand, whom have grown up with his Gucci/YSL/Tom Ford by casting older models— whether vets or newer older faces, would give the brand a timeless and authentic heritage— and still be able to snatch that 2 billion projection.
I agree on a lot of things you said but at the same time, this is a weird time.
Even if he started working in fashion in the 80’s, Tom Ford access to stardom started 30 years ago. We have been used to his aesthetic for 30 years and now we are witnessing a change of generation and the building of an heritage brand in front of us…

I don’t expect it to be strong right away. And I don’t necessarily expect this to speak to me in a way that Tom Ford by Tom spoke to me. I love the Gucci / YSL years. They have shaped my taste. I loved the Tom Ford by Tom Ford days…And they were highly controversial. I have at least 1 item from almost every collection, even if on paper you wouldn’t associate Tom Ford the brand with my style.

I think we would want a John Galliano at Dior kind of situation but maybe the company, in order to establish itself need a Marc Bohan. And I’m totally fine with it.

They chose Hawkings because menswear is the most established category for the brand. In an ideal world, they would have had a separate designer for the womenswear and my choice would have been Alexandre Vauthier.
But the brand needs a singular vision.

Maybe Hawkings will surprise us but I don’t expect the brand to be though provoking, pushing taste or being a leader in terms of fashion conversation.

At least, I know the integrity of the house will be preserved.
And in a way, going back to the spirit of the Gucci days will allow him to be more free with the heritage quite contrived of Tom Ford the brand.
 
Gildo Zegna is definitely ambitious, but not to the point of stupidity. His successes with Zegna and Thom Browne shows that he knows how to take advantage of each brand's separate strengths and identities instead of relying on fleeting trends and logoed products.

€2bn for 2026 seems like a perfectly realistic goal for a brand like Tom Ford. The name has credibility, the core products are desirable and flattering. The distribution strategy needs a bit of work, but Zegna is already planning on opening more stores with a focus in Europe and Asia.

From what I've seen of Hawkings' vision, it seems to be directional than Ford's. First, he recentered the studios in London and moved the shows to Milan, which was a very smart move. Then we had the show back in September which was very well received (the failure of Gucci Ancora helped immensely) and the recent released campaign and pre-collection. It would be very interesting to see what the stores would look like under his direction.

The menswear is good as always. That said, in the recent show, it look fresher. Stripping off all the "costume-y" elements that were probably added for previous shows made it feel so more modern. Introducing a few daywear styles would be smart. It might also be a good idea for the brand to consider holding separate menswear shows.

The womenswear is going to play an extremely important role for the brand image as it's often the loudest and most forward-facing aspect of a fashion label. As I said before, the long-term success of the womenswear is really going to depend immensely on creating an aesthetic and a silhouette that is versatile and flattering, but anchored in modernity.

The appeal behind Chamelet is similar to that of Harry Styles and male K-Pop idols. He's slender and androgynous enough to pull off more "radical" fashion propositions without looking silly. To add to that, he fits that "female gaze male" that could hopefully attract female customers to the brand. That said, it would definitely be a good idea to avoid alienating their more traditional customers like Michele's Gucci did.
 

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