This year’s Paris Fashion Week kicked off with a glamorous Yu Prize event, where fashion insiders gathered to toast rising Chinese designers.
Yu, the founder of venture capital firm Yu Holdings, co-hosted a glamorous cocktail reception at the Le Royal Monceau – Raffles Paris hotel on September 25.
Fédération de la Haute Couture et de la Mode (FHCM) executive president Pascal Morand, industry veteran Julie Gilhart, Diesel founder and OTB Group president Renzo Rosso, beauty founder Pritika Swarup, and Chinese singer Yu Yan joined some of China’s most promising designers for the event.
In the opening speeches, Morand noted the room’s “warm atmosphere” and offered his congratulations to the inaugural outing.
“This [relationship] is very promising,” he added, stressing the FHCM’s long-standing relationship with Shanghai Fashion Week, Chinese designers and the Yu Prize programme.
“Paris is the fashion capital of the world, and it’s the next big step or milestone for Chinese designers,” said Wendy Yu. “Here, you get the best of the media and buyers. Paris gives [brands] more opportunity and global spotlight.”
Du explained that she had been eager to travel to the fashion capital after travel restrictions were lifted.
“Paris offers me the opportunity to experience many different cultures. As a creative, I think you need this. I find Shanghai can be quite commercial but Paris is more open and creative.”
The benefits are not only creative: Paris offers much business potential, according to brand consultant Hao Yaqun, with the city allowing brands the opportunity to be “commercialised in showrooms”.
According to Hao, who has worked at Paris-based Chinese brand Icicle and beauty brand Harmay, this helps them “build connections to, and up their presence in, international stores”.
That also rings true for former fashion PR turned producer Jiang Youpo.
“You have to come here to be internationally recognised. But doing that is really useful because it forces you to grow up,” says Jiang. “It’s totally different to China so you learn from both sides, making you a more well-rounded brand.”
More Chinese designers than ever are eyeing the French capital, says Yu. Avant-garde designer Windowsen, for example, has relocated there after stationing his brand in Antwerp, in Belgium, and Shanghai.
Other designers have also expressed their interest in moving to the city or onto the city’s fashion schedule. Designer Ming Ma, for example, is contemplating “a slow move into the market”, potentially during the coming pre-autumn or resort seasons.
Industry veteran Gilhart, now the chief development officer of sales agency Tomorrow, suggests that Paris offers Chinese designers a hub to show outside Shanghai.
“It’s a place where they can all gather and show, not just as singular designers but they can be stronger as a group,” she points out. The Yu Prize offered just that this season.
However, even as the allure of Paris grows, Yu remains pragmatic about the future.
“Designers can learn and absorb this great energy here. But it’s important to keep their relevance to the Chinese market too. That’s where the audience will be.”
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