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What does it take to design the ultimate partywear brand? Australian designer Rebecca Vallance is confident she has the answer. So much so that, not long after the pandemic almost wiped it out, she is investing in the international expansion of her eponymous — and privately owned — brand.
It’s a bold move at a time when people continue to tighten their belts amid the ongoing cost of living crisis. While partywear rebounded sharply after pandemic lockdowns lifted, growth is expected to slow to 1.4 per cent in 2023 compared to 4.9 per cent in the wider fashion market, as shoppers cut back on spend to manage the impact of inflation on their household budget, according to consumer research firm Kantar. Designer Michael Halpern recently decided to shutter his namesake partywear label, signalling how tough the environment is for independent brands.
Stiff competition, including from third-party rental platforms, is another concern, as is the sustainability (in every sense) of being based in Australia when around 60 per cent of the brand’s sales come from overseas. But Vallance — who was named designer of the year at Marie Claire Australia’s annual Women of the Year awards on 23 November — is not one to be put off by risk.
“We were up 200 per cent last year. All areas of the business have had excellent growth, but dresses are on another level,” she says, speaking from her home in Sydney over Zoom. “Women want to dress up — and I’m here for it.” (The brand does not disclose figures.)
Her focus on timeless styles that could be considered investment pieces at a relatively affordable price point (starting at £240 for separates and reaching £1,200 for a wedding dress) has put her in a strong position to buck the economic downturn. The aesthetic — bold and sexy for women who enjoy the powerful feeling of dressing up — is resonating globally, much as it has for fast-growing Scandinavian party label Rotate. Hero pieces include the playful Veronica mini dress, which has bows along the front and puff sleeves. Alongside Rotate, the brand speaks to the same customer as Self-Portrait, Roland Mouret, Zimmermann and Alex Perry.
Vallance launched her brand in 2011 when she was residing in London. The plan was always for it to be an international brand; for its first season, Vallance showed the collection in Paris, where it picked up stockists including Harvey Nichols. In 2012, she returned to Australia and launched the brand locally. Over the years, Rebecca Vallance has expanded into bridal, jewellery, swim and childrenswear. A recent coup was a partnership with Australian airline Qantas to design its pyjamas and amenities kits. More brand extensions are in the pipeline, although she can’t disclose details at this stage.
What sets Rebecca Vallance apart? “It stands out a mile on a rack, and I’m quite unapologetic about the design; I like the wow factor,” says Vallance, a former fashion publicist. She adds: “I’m unforgiving with the quality. Whether it’s the fabrics we develop with our mills [in France and Italy], the unique design, or the delivery. It’s a luxurious experience.”
The brand has 220 wholesale stockists globally, including Net-a-Porter, Mytheresa, Harvey Nichols, Selfridges, Farfetch, Nordstrom, Neiman Marcus, Saks Fifth Avenue, Brown Thomas, Galeries Lafayette and Holt Renfrew. This network gives a useful barometer of demand for the retail side of the business, which currently accounts for 53 per cent of sales.
Net-a-porter started stocking Rebecca Vallance for Spring/Summer 2017. The brand is a “go to” for occasion and event dressing, says market director Libby Page. “Blending timeless elegance and effortless femininity, Rebecca Vallance’s collections are meticulously crafted with the modern woman in mind.”
Last Friday, the brand opened its sixth store in Australia, in Brisbane. Another three will follow across the country by June of next year. Internationally, the focus is on opening in London and the US: likely New York, though Miami, LA and Dallas are also in play. Beyond those markets, the Middle East is in focus for mid-term expansion; specifically Dubai, where Rebecca Vallance performs well through its wholesale partners. Southeast Asia is also on the agenda.
There’s a big opportunity in brick-and-mortar stores, says Vallance. “Our figures for online are incredible, but there is a girl that likes to go to the shop — for the experience, to see and feel the product. I’m a big fan of retail, I think if it’s done well, it can be very successful. But you’ve really got to research where your customer is.”
Coming back after Covid
The occasionwear sector was battered during the pandemic. Designers like Roland Mouret, known for his form-fitting party dresses, called in administrators (the brand was later acquired by Han Chong, founder of another party girl favourite, Self-Portrait). Vallance had the added challenge of being based in Australia, where the restrictions were especially draconian.
“The pandemic was horrendous,” she recalls. “We’re essentially a dress brand, and no one was buying dresses. My business was larger overseas, so the government grant situation wasn’t great for us initially. I had quite a big team, and orders were being cancelled out of nowhere. Like most brands, I had to let people go.”
Last month, Vallance flew to the UK for a breakfast event, ostensibly to promote the arrival of her holiday 2023 collection in stores. But it held greater significance: heralding her return to London department store Harrods, where she had been stocked until the pandemic lockdowns stalled sales.
The rebound in demand has, of course, been welcomed — allowing her to hire back some of the people she lost (headcount currently stands at 82). Still, Australia is not an easy place from which to grow a global fashion brand. Sydney is almost 10,000 miles from New York and 10,500 miles from Paris, with its clock running 14 and eight hours ahead of those two cities, respectively.
To help, Rebecca Vallance goes into production before buyers’ order books open. It’s a risky approach, but one that’s necessary to allow her to deliver in a timely manner. “It’s what keeps me up at night,” she admits. “I can put the stock into my shops [if it doesn’t sell at wholesale], but it’s not perfect.” Yet, she stands by the strategy. “You’ve got to be in control of your own destiny. And it’s more important to me that we deliver on time.”
The rental opportunity
Keen pricing is one of Rebecca Vallance’s strengths. Mytheresa began stocking Rebecca Vallance around six years ago. “We felt there was a gap and need in the market for sophisticated evening/occasion wear that has a sharp price point. So when we saw Rebecca’s collection, it ticked all boxes,” explains chief buying officer Tiffany Hsu. It has become a “steady business” for Mytheresa since then, she adds, thanks in part to exclusives Vallance designs for the e-tailer’s customers.
“It’s not that we’re at a cheap price point,” says Vallance. “[But] the fabrications we use feel expensive, so you get value.” She points to the brand’s suiting, which satisfies the quiet luxury consumer and can be worn for work, not just events. “People feel they get a lot of bang for their buck.”
Nevertheless, consumers are feeling the squeeze, and more people than ever before are turning to rental for their occasionwear. Matchesfashion and Flannels have entered the rental market. Last week, Net-a-Porter announced a new partnership with rental platforms By Rotation and Hurr, which features more than 100 partywear pieces from a selection of brands, including Rebecca Vallance.
Vallance says she’s in conversations to do more rental partnerships. “It’s a part of life now, and the products we make are made to last a lifetime [so lend themselves to rental and resale],” she says, though she notes that the brand is conscious of “maintaining the exclusivity for our full-price customers”.
This willingness to evolve in line with her customer is part of what has spurred Vallance’s success, despite the challenges. On winning designer of the year, she says: “It meant the world to me. I never thought we’d make it through Covid. What a celebration, not only for myself, but for everyone who works for me.”
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