Turning Red Carpet Design Into Costume Cash

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

March 3 (Bloomberg) -- Howard Hogan, a partner at Gibson, Dunn & Crutcher, discusses the high stakes for a designer outfitting a celebrity on the red carpet. He speaks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

What is the connection between lawyers and what happens on the red carpet?

I know -- i had no idea there was a legal agreement that went on.

It is funny, vera wang has said that outputting celebrities for the oscars is a gamble of the highest order.

It is right up there with a guess.

Not only do have to worry about designing something that matches, works, is not going to be radical, you ought to be worried about the celebrities bailing at the last second.

Over the recent years, number of celebrities have done just that.

They change their mind at the last second.

Most famously, and happily -- and hathaway was scheduled to wear valentino, and switched to brought up.

They just decided they wanted to wear other close?

Exactly.

When a design team spends up to a year designing, sewing, perfecting it for their particular celebrity, and then sometimes releasing press releases about it, cannot only be embarrassing, it can be a disaster.

Many design houses compare oscars to fashion week in new york.

There are legal agreement, contract signed between celebrities and the fashion houses, to where the particular clothes.

The winner, last night, just give us a description of what exactly will that inspire?

What time do business are we talking about?

Sometimes celebrities are not willing to sign contracts about what they wear.

I do not know what hurt -- her deal was, but she was bragging about how she worked personally with prodded to develop her own style.

I think that is something that the consumers can identify with and relate to.

Even if they do not want to buy that particular down, it will make them want to look for product.

Is that a continuing trend?

That the celebrities will get involved in the design it becomes a focal point of the selling and merchandising?

It to pens on the disposition of the celebrities.

In a world where marketing is not only who is wearing what you're think of a budget was tweeting about you and who is advocating you, getting celebrities involved by whatever appeals to them is going to be the key to getting and making sure they wear your fashion on oscar night.

Let's talk tabout the men's fashion.

How does that affect sales?

What is a meme for new celebrity endorsements?

-- what does it mean for new celebrity endorsements?

There have been some pretty outrageous manens where in years past.

What seems to be new is the more colors being represented regularly.

Blue, white, to velvet.

They're going to be more color tuxedos worn to prom across the country.

Retailers will want to get man color comfortable.

Is a possible to track the connection between what goes on at red carpet and social media world, and then what gets stored throw -- sold for high school proms around the country?

I do not know that anyone has done a good study of the 121 analysis -- 1 to 1 analysis.

But there is no doubt about it, teenagers want to look like they're hollywood idols.

You're good to see blue decks he does at the prom next may.

1-wood agreement look like?

What how much when a celebrity star get paid to wear a fashionable dress from one of the top fashion houses?

Just to give you one example, charlie theron had many of her records exposed to the public record because she got into a very public lawsuit who had paid to wear her watches.

She was sued for wearing a competing watch.

In the lawsuit, we saw that there was a payment of $82 million for the entire term of the contract.

$82 million to be a watch spokeswoman?

Exactly.

That is fully full -- for a full year, not showing up at the oscars.

They saw a million dollars in damages for wearing a different watch on a number of occasions.

Do they keep the clothes?

Some do, some donate them to charity.

Some who are not as famous have to return them.

Thank you for being with us.

Coming up next, my mystery guest

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change