How well have you read your BoF this week? Test your knowledge of all of the latest news and analysis from around the world of fashion in our Pop Quiz, which covers Brunello Cucinelli, Kris Van Assche, and more.
You can find the correct answer and detailed explanation for each question immediately following the question (simply highlight to read), along with all the answers at the end of the quiz. Good luck!
Question 1: Who said, “Contemporary capitalism is a human capitalism”?
a. Blake Mycoskie
b. Brunello Cucinelli
c. Neil Blumenthal
d. Stella McCartney
Answer 1: Choice (b) is correct. Brunello Cucinelli recently said, “ I believe in capitalism, but it must be contemporary like everything else in mankind. And for me, contemporary capitalism is a human capitalism.”
Question 2: What did Kris Van Assche study at Antwerp’s prestigious Royal Academy of Fine Arts?
d. costume design
Answer 2: Choice (a) is correct. At the Academy, Kris Van Assche studied womenswear.
Question 3: Spanish brand Loewe has its showroom located in _____.
Answer 3: Choice (c) is correct. Loewe’s showroom is now located in Paris. Previously, the LVMH-owned Spanish brand had kept its design team in Madrid.
Question 4: Approximately 25 percent of female chief executives of Fortune 500 companies wear ______ regularly for work.
b. Nina McLemore
Answer 4: Choice (b) is correct. At least a quarter of female chief executives at Fortune 500 companies have appeared publicly in Nina McLemore’s clothes or shopped with the label, according to Wall Street Journal research.
Question 5: All of the following statements about fragrance are true EXCEPT?
a. Companies invest on average 2 to 5 percent of fragrance revenue in research and development.
b. The average lifespan of fragrance is only three to four years.
c. A top selling fragrance can generate more than $1 billion in annual sales.
d. Launching a perfume can cost up to $70 million.
Answer 5: Choice (a) is correct. Companies invest, on average, between 7 and 12 percent of their perfume revenues in research and development.
Question 6: Why is cashmere so personally important to Brunello Cucinelli?
a. Because it’s the most luxurious fibre
b. Because it’s the best way to differentiate the brand
c. Because it’s his favorite fibre
d. Because it would be never thrown away
Answer 6: Choice (d) is correct. Brunello Cucinelli recently shared the reason cashmere is so important to him: “…because I never thought it would be thrown away. I wanted to manufacture something that theoretically never dies.”
Question 7: Zac Posen was recently named womenswear creative director for Brooks Brothers. His priorities include which of the following?
a. heavy focus on work wear for women
b. new campaign focused on American Glamour
c. choice (a) only
d. choice (a) and (b)
Answer 7: Choice (d) is correct. The two definite priorities are women’s work wear and a new campaign to communicate the new direction – American Glamour.
Question 8: Who said, “The more you sell, the more you are in trouble”?
a. JW Anderson
b. Christopher Kane
c. Kris Van Assche
d. Jonathan Saunders
Answer 8: Choice (c) is correct. Kris Van Assche shares his number one rule for fashion: “The more you sell, the more you are in trouble.” Van Assche thought after his first show he would have around 15 clients. Instead, 45 retailers placed orders. “That sounds great but it also means you have to make the stuff, buy the fabrics and finance the production. Then you send the clothes in June but people don’t start paying until July and we just didn’t have enough cash for all that. The bigger you become, the more money you need.”
Question 9: Which fashion company’s EBITDA multiple is currently trading at a 50 percent premium to the sector average?
a. Brunello Cucinelli
d. Michael Kors
Answer 9: Choice (a) is correct. Brunello Cucinelli’s share price lost almost 12 percent due to profit-taking, its EBITDA multiple nevertheless remaining at a 50 percent premium to the sector average at the end of June.
Question 10: Which perfume is sold somewhere in the world every 55 seconds?
a. Miss Dior
b. YSL Paris
c. Chanel No. 5
d. Tom Ford Jasmin Rouge
Answer 10: Choice (c) is correct. It is estimated that a bottle of Chanel No. 5 is sold somewhere in the world every 55 seconds.
Answer Key: 1. (b) 2. (a) 3. (c) 4. (b) 5. (a) 6. (d) 7. (d) 8. (c) 9. (a) 10. (c)
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