The Row and Phoebe Philo Are Explaining Big Bling’s Crisis
The Olsen sisters have created a very successful fashion brand, The Row.
Photographer: Paul Morigi/Getty Images North AmericaHundreds of people queued for hours in New York City in October to get their hands on discounted luxury clothing and accessories. But the frenzy wasn’t for designer gear from a household name, such as Kering SA’s Gucci or LVMH Moet Hennessy Louis Vuitton SE’s Louis Vuitton. Shoppers were clamoring for The Row, an understated US label established by former child stars Mary-Kate and Ashley Olsen.
The successes of The Row — it raised funds in 2024 valuing the company at about $1 billion, according to Bloomberg News — and London-based Phoebe Philo go some way to explaining the malaise in the luxury industry. Demand for top-end goods hasn’t evaporated: It’s shifted from the mega-brands to a new breed of labels.