American Fashion in Crisis? Not at These Shows
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,613,207 (-0.60%)       Melbourne $969,484 (-0.54%)       Brisbane $991,125 (-0.15%)       Adelaide $906,278 (+1.12%)       Perth $892,773 (+0.03%)       Hobart $726,294 (-0.04%)       Darwin $657,141 (-1.18%)       Canberra $1,003,818 (-0.83%)       National $1,045,092 (-0.37%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $754,460 (+0.43%)       Melbourne $495,941 (+0.11%)       Brisbane $587,365 (+0.63%)       Adelaide $442,425 (-2.43%)       Perth $461,417 (+0.53%)       Hobart $511,031 (+0.36%)       Darwin $373,250 (+2.98%)       Canberra $492,184 (-1.10%)       National $537,029 (+0.15%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 9,787 (-116)       Melbourne 14,236 (+55)       Brisbane 8,139 (+64)       Adelaide 2,166 (-18)       Perth 5,782 (+59)       Hobart 1,221 (+5)       Darwin 279 (+4)       Canberra 924 (+36)       National 42,534 (+89)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,638 (-81)       Melbourne 8,327 (-30)       Brisbane 1,728 (-19)       Adelaide 415 (+10)       Perth 1,444 (+2)       Hobart 201 (-10)       Darwin 392 (-7)       Canberra 1,004 (-14)       National 22,149 (-149)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $820 (+$20)       Melbourne $620 ($0)       Brisbane $630 (-$5)       Adelaide $615 (+$5)       Perth $675 ($0)       Hobart $560 (+$10)       Darwin $700 ($0)       Canberra $680 ($0)       National $670 (+$4)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $590 (-$5)       Brisbane $630 (+$5)       Adelaide $505 (-$5)       Perth $620 (-$10)       Hobart $460 (-$10)       Darwin $580 (+$20)       Canberra $550 ($0)       National $597 (-$)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,197 (+313)       Melbourne 6,580 (-5)       Brisbane 4,403 (-85)       Adelaide 1,545 (-44)       Perth 2,951 (+71)       Hobart 398 (-13)       Darwin 97 (+4)       Canberra 643 (+11)       National 22,814 (+252)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,884 (-22)       Melbourne 6,312 (0)       Brisbane 2,285 (-54)       Adelaide 357 (-14)       Perth 783 (-14)       Hobart 129 (-14)       Darwin 132 (+6)       Canberra 831 (+15)       National 21,713 (-97)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.64% (↑)      Melbourne 3.33% (↑)        Brisbane 3.31% (↓)       Adelaide 3.53% (↓)       Perth 3.93% (↓)     Hobart 4.01% (↑)      Darwin 5.54% (↑)      Canberra 3.52% (↑)      National 3.34% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.17% (↓)       Melbourne 6.19% (↓)     Brisbane 5.58% (↑)      Adelaide 5.94% (↑)        Perth 6.99% (↓)       Hobart 4.68% (↓)     Darwin 8.08% (↑)      Canberra 5.81% (↑)        National 5.78% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.8% (↑)      Melbourne 0.7% (↑)      Brisbane 0.7% (↑)      Adelaide 0.4% (↑)      Perth 0.4% (↑)      Hobart 0.9% (↑)      Darwin 0.8% (↑)      Canberra 1.0% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.1% (↑)      Brisbane 1.0% (↑)      Adelaide 0.5% (↑)      Perth 0.5% (↑)      Hobart 1.4% (↑)      Darwin 1.7% (↑)      Canberra 1.4% (↑)      National 1.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 29.8 (↓)     Melbourne 31.7 (↑)      Brisbane 30.6 (↑)        Adelaide 25.2 (↓)       Perth 35.2 (↓)     Hobart 35.1 (↑)      Darwin 44.2 (↑)        Canberra 31.5 (↓)     National 32.9 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 29.7 (↓)       Melbourne 30.5 (↓)     Brisbane 27.8 (↑)        Adelaide 22.8 (↓)     Perth 38.4 (↑)        Hobart 37.5 (↓)       Darwin 37.3 (↓)       Canberra 40.5 (↓)       National 33.1 (↓)           
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American Fashion in Crisis? Not at These Shows

By RORY SATRAN
Sun, Feb 18, 2024 7:00amGrey Clock 4 min

In the 1990s, New York fashion had the Big Three: Donna Karan, Ralph Lauren and Calvin Klein. Of them, only Lauren remains a fashion force. Klein’s brand now only calls to mind Jeremy Allen White in boxer briefs. A recent reboot of the Donna Karan brand, sans Donna, drew yawns. In their heydays, these designers set the fashion agenda for the United States, and to some extent, the world. But in recent years, many have bemoaned the state of American fashion and wondered whether its fashion week should even exist.

Crisis of confidence no more! This past week, several New York designers made compelling cases for a new era in American fashion, one ruled more by a rigorous approach to separates than splashy marketing campaigns. As the luxury industry slows its roll , designers here showed the value of playing it safe, with investment-worthy coats, work-appropriate tailoring and go-everywhere dresses. Of course, in fashion, “safe” might also include sans-pants looks and four-figure shearling coats, many of which were also on display.

“I thought it was a really strong season for New York,” said independent fashion critic Jeremy Lewis. After years of streetwear, irony and everyone wanting to be “extra,” he said, “It’s led to more sober and grown-up clothes.” Lewis, like many of the commentators and retailers I spoke to, named Proenza Schouler as a standout. He said that its “exquisite tailoring” was “relevant to a daily, city-centric wardrobe.”

The new energy around realistic wardrobing was visible in many collections, from downtown darlings Eckhaus Latta and Kallmeyer all the way up to megabrand Michael Kors. On fashion runways, it’s more common than one would think to see unzipped zippers, nipple slips and faulty shoes (or abandoned shoes, which happened at at least two shows). The most successful designers working in New York today—highlighted below—are the ones that are focusing on fit, integrity and a connection to their customer.

Altuzarra’s Calculated Whimsy

For his 15th-anniversary show, Joseph Altuzarra revealed his strongest collection perhaps ever by zeroing in on idiosyncrasy and eschewing influencer culture. To a room of about 100 editors and buyers, he presented unique looks with notes of equestrian culture, harlequin-inspired whimsy and Princess Diana polished quirk. Gabriella Karefa-Johnson, who styled the collection, said that it “felt like the kind of wardrobe we dream to collect over years of our lives.” That mix looks like: a pair of jodhpurs found in an attic; a sweater from Portobello Road; wool joggers stolen from an ex-boyfriend.

“People’s wardrobes are not merchandised,” Altuzarra explained about this way of dressing. “When you walk into your closet, there’s this feeling of eclecticism.” He wanted to emphasize that one-of-a-kind feeling. It’s creating a wardrobe, he said—not of basics but of “preciousness and emotion.”

It’s a strategy that could have a positive effect on the brand’s business, as fashion becomes, in Altuzarra’s words, “more item-driven.” Rather than offering an overwhelming array of options, he said, “I want there to be a unique proposition.”

Proenza Schouler’s No-Nonsense Manifesto

Lazaro Hernandez and Jack McCollough have always made clothes for the women of their own generation, with muses including artist Olympia Scarry, entrepreneur Lauren Santo Domingo and creative director Jen Brill. They’ve followed these women from their it-bag and party-dress days into their 40s . Today, those muses (like many of us) are far more likely to require a bag that holds a computer and a warm coat they can wear for 10 years than a pair of super-high boots to pose in.

Liane Wiggins, head of womenswear for retailer MatchesFashion.com, has told me how crucial coats are to the women’s designer business these days. A good coat can last forever. You can throw it over a simple WFH outfit. It keeps you warm in today’s weird, ever-changing weather. Proenza Schouler’s coats, in hand-sheared shearling, leather and double-face cashmere, are superlative. Hernandez and McCollough describe them as “strong and soft layers of protection.” Which you will certainly need if you decide to try one of the brand’s more risqué sheer-organza tops.

Willy Chavarria’s Character-Driven Separates

Willy Chavarria, who cut his teeth at legendary American brands Calvin Klein and Ralph Lauren, presented a sprawling show, including a short film and staged banquet recalling “The Last Supper,” in a warehouse in Brooklyn. Although his work is categorised as menswear, the show featured models of all genders, and a diverse range of backgrounds. The signature look—broad-shouldered blazers with nipped-ankle pants—would truly work on anyone.

While Chavarria’s collections have veered costumey in the past, this one struck a more wearable note. In his second season of wholesaling the brand, he said he was happily becoming more commercial. His cable-knit sweaters, camel suiting and aviator leather jackets are positioning him as a new-gen Ralph Lauren.

Michael Kors’s Pitch-Perfect Restraint

Although Kors sometimes gets a bad rap for being too commercial, his recent collections have had a smidge of an edge. Much in the same way that Tory Burch has recently gone from safe to cool, Kors is primed to reach a new audience with his canny sampling of 1990s and early 2000s minimalism. Unlike many of the designers that are mining that pared-back period, Kors was actually designing clothes back then. His work for Celine during that period , including straight knee-length skirts, animal prints and simple coats, is finding new lift on the resale market among younger women. undefined undefined So he’s smart to go full Carolyn Bessette-Kennedy for his eponymous multi-billion-dollar business. Shown in the old Barneys building in Chelsea, a temple of bygone chic, his dark skirt suits, pleated trousers and lace slip dresses felt convincing. And 50-year-old supermodel Amber Valletta, bare-legged with a leopard-printed coat and black pumps, is a contender for look of the season.

Sergio Hudson’s Unapologetic Power Dressing

As the Lox’s 1990s rap anthem “Money, Power & Respect” boomed from the loudspeaker, Sergio Hudson’s boardroom babes strutted defiantly down the runway. Hudson, a favorite of Kamala Harris and Michelle Obama, has built a solid reputation on monochromatic dresses and 1970s-inflected suiting. Hudson said that his vision was about presenting “that boss diva that we aim to please.”

This collection, Hudson’s most cohesive in recent memory, made me think that the fashion world hasn’t been taking Hudson seriously enough. Tom Ford, vulnerable after Peter Hawkings’s derivative debut last season, might do well to pay attention to Hudson, with his strong tailoring and unabashed sensuality.

The designer, who had attendees smiling and bopping in their seats, said that he aimed to “bring back the joy of New York fashion week.” And what’s more, “to bring back the great days when New York sportswear was held in high regard across the world. That’s been a bit lost.”



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The Top 10 highest paid CEOs of the ASX 200 revealed

Along with pay rates, the latest report from the ACSI shows bonuses are no longer based on exceptional results

By Bronwyn Allen
Tue, Jul 23, 2024 2 min

The CEOs of the ASX 200 were paid a little less in FY23 compared to the year before, but bonuses appear to have become the norm rather than a reward for outstanding results, according to the Australia Council of Superannuation Investors (ACSI). ACSI has released its 23rd annual report documenting the CEOs’ realised pay, which combines base salaries, bonuses and other incentives.

The highest-paid CEO among Australian-domiciled ASX 200 companies in FY23 was Greg Goodman of Goodman Group, with realised pay of $27.34 million. Goodman Group is the ASX 200’s largest real estate investment trust (REIT) with a global portfolio of $80.5 billion in assets. The highest-paid CEO among foreign-domiciled ASX 200 companies was Mick Farrell of ResMed with realised pay of $47.58 million. ResMed manufactures CPAP machines to treat sleep apnoea.

The realised pay for the CEOs of the largest 100 companies by market capitalisation fell marginally from a median of $3.93 million in FY22 to $3.87 million in FY23. This is the lowest median in the 10 years since ACSI began basing its report on realised pay data. The median realised pay for the CEOs of the next largest 100 companies also fell from $2.1million to $1.95 million.

However, 192 of the ASX 200 CEOs took home a bonus, and Ed John, ACSI’s executive manager of stewardship, is concerned that bonuses are becoming “a given”.

“At a time when companies are focused on productivity and performance, it is critical that bonuses are only paid for exceptional outcomes,” Mr John said. He added that boards should set performance thresholds for CEO bonuses at appropriate levels.

ACSI said the slightly lower median realised pay of ASX 200 CEOs indicated greater scrutiny from shareholders was having an impact. There was a record 41 strike votes against executive pay at ASX 300 annual general meetings (AGMs) in 2023. This indicated an increasing number of shareholders were feeling unhappy with the executive pay levels at the companies in which they were invested.

A strike vote means 25 percent or more of shareholders voted against a company’s remuneration report. If a second strike vote is recorded at the next AGM, shareholders can vote to force the directors to stand for re-election.

10 highest-paid ASX 200 CEOs in FY23

1. Mick Farrell, ResMed, $47.58 million*
2. Robert Thomson, News Corporation, $41.53 million*
3. Greg Goodman, Goodman Group, $27.34 million
4. Shemara Wikramanayake, Macquarie Group, $25.32 million
5. Mike Henry, BHP Group, $19.68 million
6. Matt Comyn, Commonwealth Bank, $10.52 million
7. Jakob Stausholm, Rio Tinto, $10.47 million
8. Rob Scott, Wesfarmers, $9.57 million
9. Ron Delia, Amcor, $9.33 million*
10. Colin Goldschmidt, Sonic Healthcare, $8.35 million

Source: ACSI. Foreign-domiciled ASX 200 companies*

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