Summer brings to mind ideas of lightness and floral undertones, possibly mixed with citrus or berry. I can’t handle berry scents, reminds me too much of middle school chapstick that you ruin drawing pictures on desks, so I steal my brother’s shower gel instead.

For a slight spin on summer scents, in the shower use the (generally male oriented) Molten Brown Black Pepper Gel on the body core and then, after the shower, apply Van Cleef & Arpels Gardenia to pulse points (wrists, lower neck). It’s the perfect (light) blend of musk and floral to add a deeper spin to summer scents.

Valentine’s Day has never really meant much to me, probably because I’ve never had anything that so much as resembles a relationship that’s lasted longer than 3 weeks. I usually just get underwear from my grandmother. I did get a rose once from a boy in high school. I kinda freaked out. He never talked to me again.

I have somewhere around 100 days left in my undergraduate career, probably 100 of the busiest days of my life. I put off writing my thesis (creating a sustainable economic model for organic food in the style of the French wine certification system) first semester because of the job search so I’m writing it now…while learning German, learning GIS (geographic information systems), discussing the future of the European Union and enjoying a social life I seemed to have developed in the last year. On the whole, this is not an unsustainable lifestyle, but, it’s a good thing I don’t need a lot of sleep.

Sophomore year when life got really busy I discovered something called the fashion industry and found its business model based on creativity, color and art a perfect complement to the analytical nature of my work. (My appreciation of the industry’s art and creativity also led me to be completely shocked at the news of Alexander McQueen’s death. The industry has lost someone truly great.) This fascination is going to be no less true this semester. I’m already in love with what I’m seeing at NY fashion week, and it’s only Day #4–the draping at Costello Tagliapietra, the attitude at Chado Ralph Rucci, and the color blocking and necklines at Lacoste. Mmm, mamma like. As a student of economics, I can’t tell you that the recession is over yet. But as a student of behavioral economics, I can tell you that designers think the recession is over and the personality they’ve returned to their work is fantastic.

To stay sane and motivated right now, I’m reading bits of Linchpin by Seth Godin, a fantastic business book right next to Women, Work and the Art of Savoir Faire by Mireille Guiliano, and listening to experimental electronic music like the song “A/B Machines” by Sleigh Bells featured in the video ad for LOVE Magazine above. It’s not great for dancing but it gives you a great power-walk.

Happy Valentine’s Day!

Ems

I’m just going to say it: Career Service’s Interview Dress Guide is crap. I agree with the whole “understated” and “conservative” angle. But “skin-colored hoisery” and “portfolio in place of handbag or purse”? Don’t think so.

I had 18 interviews this fall and in every single one of them I watched a parade of people go by, from Middlebury and other schools, who had followed their school career guide to the letter: countless girls with super-straight hair pulled back in a ponytail, pearl studs, black suit with white blouse, pants or skirt and hose, .5 in. heels, Longchamp purses and black portfolios with a school logo. It was like watching a parade of droids or “Job Interviews: The Stepford Edition.” The lack of individuality afforded by the process was mind boggling.

So I changed it. I never wore a jacket or a suit. My heels were 4 inches. Statement necklace. Super skinny skirt. Tiny belt. White or black blouse, sleeves rolled up to the elbows like I’ve been buried in files all day. I carried my (mother’s) trusty square Louis Vuitton full of pens, Moleskine notebooks and business cards. No portfolio. Just a file folder to be pulled out only if necessary. Hosiery? Not over my dead body.

When dressing for job interviews, I say dress like you already have a job, not like you want one (this goes for men and women). In other words, when you get on the subway before your all day interview or call your mom at Barnes & Noble afterward, no one should be able to tell whether you’re dressed for an interview or a business meeting. Jobs anymore are about being a team player, working in groups, etc. But, especially for your first few jobs, you can’t lose your independence or personality in the process. Your clothes allow you to be/express yourself while your actions are about others. I realize that dressing against the guidelines is risky, but it’s important. (N.B. In no way am I talking about cutoffs, sandals and visible bra straps here. Those are still out.) If you choose to dress more like yourself, a little more independently, a little against the trusty guidelines and tradition, and a prospective employer docks you because of it, then they’re not worth it. To them, you would have become just another number anyway.

My own suggestions after the jump. Take them at your own risk.***

Women:

The suit: Here, I agree with career guides, suits with skirts are preferable to suits with pants. It’s more feminine that way. If you want to be different, avoid black. Go with navy blue or deep gray. Add some pinstripes in the winter if your figure allows. Don’t wear a blouse underneath. Wear a white, beige or gray tshirt or camisole. Try pink in the summer. Skirts and pants should be as skinny as possible without showing your underwear lines. Word to the wise, however, Barney’s doesn’t  have a suiting section on their online shop. Hence, suits are by no means necessary.

The separates: When going for separates, avoid a jacket. Wear a blouse that is clearly not meant to be worn with a jacket. Roll up the sleeves or maybe avoid French-cuffs. Try a tuxedo blouse or one with non-distinct prints in black and white. A basic white or black blouse also works. Dark greens, purples and blues can be flattering if your skin tone allows but can sometimes look less professional. Again, try light pastels in the summer. When wearing a skirt, make it skinny in black, navy, brown or grey. If wearing pants (for more casual interviews), make them skinny, too. I say skinny for everything because a) it looks more youthful, fashion-foward and b) it produces less static. A great alternative overall outfit would be something Mad Men style: bright colored cardigan completely buttoned up with a wool pencil skirt. You can also wear a dress if you can find a shift dress or a boat neck with sleeves.

The accessories: Wear your favorite pair of earrings. Bold necklaces and bracelets are a good compliment, especially if your outfit is all black. Never button your shirt up all the way. Wear your favorite perfume and do your makeup as usual, erring on the conservative side. GOOP’s 5 minute makeover is a good place to start. Don’t wear hose, ever. Maybe black opaque tights if it’s below freezing. You’re in your 20s in the 21st century. You’re allowed to show some skin. Just make sure your legs are shaved and maybe slightly shiny. Underwear should be in skin tones if you’re wearing white or any color if you’re wearing darks. If you need an outer jacket, make it a trench coat or a cross between a baby doll and military jacket.

The shoes: Closed-toe are obviously preferable. Peep toe, if nice enough, could work. Who gives a damn about height. If you can walk in 4 in. heels and you’d wear them to work anyway, then wear them to your interview. Show off a little. Try to stick to black or nude, but if you find something else that’s perfect, wear that. If you’ve ever seen a pair of Louboutin‘s, however, you know that nude and black are far from boring. If you’ve found a good dress, and it’s winter, you could try a pair of black boots with heels.

The purse: Either buy a designer portfolio or keep everything in your purse. Never put anything on the table in front of you until it’s absolutely necessary. You want to be completely open and cause as few distractions as possible. A notepad looks more professional if it has a cover, like a Moleskine, so the whole world can’t see your scribbles. Make sure the purse is structured like a briefcase though isn’t actually a briefcase. That’s way too Michelle Pfieffer in the ’90s. Don’t bring a Lonchamp or any hobo purse, even if it’s Gucci. It has no structure and speaks of laziness.

At the end, make it sleek, make it feminine and wear it with confidence. Even if you just change one thing from the interview guides, whether it’s your jewelry or your shoes, you’ll be a step ahead of everyone else and let your interviewer know just a little bit about yourself that’s not on your resume. For further ideas, watch the series Lipstick Jungle. Powerful women in creative, powerful jobs. Fabulous clothes.

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Men:

For men, it’s pretty hard to disagree with the interview guides. Suit. Belt matches the shoes. But it’s also easy to follow the interview guides and still look like terrible. Basically, always wear a suit, never khakis with a sport coat (except for maybe if it’s start up internet company run by 28 year olds). Here are some suit suggestions, however, that will make people do a double-take.

The Power Suit: In all my interviews, I never saw a guy wearing a power suit: a rich navy blue with a red tie and crisp white shirt. I don’t really know why. Politicians do it all the time because it instills voter confidence. When in a job interview, if your employer has some confidence in you, you’re already on your way to the job. So try a power suit. If you’re wearing a basic suit, try a striped shirt to mix things up a little.

The Skinny Suit: A skinny suit, where the legs of your pants are like poster tubes instead of drainage pips, screams young European businessman. Note: You cannot find these at Brooks Brothers. Department stores and designer styles are your best bet. When the suit is skinny, it looks best in navy blue or a gray. Again, pinstripes in the winter. You’ll probably still want a white shirt underneath. Try one with French-cuffs and add some links, even little ones. Watch White Collar or the last half hour of (500) Days of Summer for inspiration.

Sans-tie: When my uncle dropped me off at one of my interviews, he saw one of my fellow interviewees and gasped, “What, no tie?!” I agree with him, it doesn’t really look impressive to see a guy interviewing without a tie. I’ve seen one exception, however. There was one guy, in all his lacrosse playing, blond hair glory, who was wearing a designer suit (likely Ralph Lauren Black Label) that had been perfectly tailored to fit his body. It was black and narrow. He wore a crisp white shirt, French-cuffs, underneath with no tie. He left his jacket unbuttoned. Whoa. I honestly thought he already worked at the firm. Personal tailoring is an expensive route to go, but it screams of personal attention and detail and is a nice touch.

The accessories: Keep it simple. An oversized watch speaks to timeliness. Bold ties in solids or contrasting patterns, no bow ties. Try long and narrow. If using cuff-links, don’t be ostentatious, but don’t be afraid to wear them in colors. Belts should be leather, never canvas. And, of course, a portfolio, but never one with your school logo. In six months, you won’t be at the school any more. Why need the logo? If you absolutely need a bag, try something that brings out your inner stylish architect.

The shoes: The shinier, the better. I find ox-blood red/mahogany/burgundy to be chic and attractive right now. It goes with everything. Slip-ons are fine if they’re a good brand but polished pointed toe oxfords are great, especially if you’re wearing a grey or a skinny suit.

Again, at the end, make it sleek, not good-old-boy masculine and wear it with confidence. Shave within 24 hrs before and get a hair cut within one month before. If you’re going to change one thing, make it your dress shirt or your shoes. And, if you do one thing before an interview, watch Tom Ford give one.

Comments, critiques, additions and further suggestions are more than welcome.

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*Disclaimer #1: All my interviews and jobs have been finance and consulting related. That does not mean these recommendations do not apply for other places. Always, however, have a feel for the culture of the firm before going into an interview and always dress more formally than your interviewers.
**Disclaimer #2: I’m not trying to win the award for finding affordable clothing. I believe in starting with the finest as an example and then adapting to fit your own budget.
***Disclaimer #3: I will not hide that these suggestions are geared toward the undergrad or recent graduate student, but that doesn’t mean that others shouldn’t pay attention.

Finals To-Do (minus buying Christmas gifts):

-Corporate Finance Project: Presentation on Verizon last week, tied for first place.
-Corporate Finance Exam: Someday, I’m gonna need to know project finance…someday.
-History Exam: Columbus to the Civil War. Isn’t there a song for that?
-History Paper: Short essay drawing from the words of the men in power leading up to the Civil War.
-Economics of the EU: Price convergence in the pharmaceutical industry in the European Union (data-based).
-Architecture: How the luxury of department stores is a function of their architecture, not the products sold on their floors.

The work really isn’t that unbearable, mostly because there’s a light at the end of the tunnel that involves a glass of red wine at home and my dog so excited to see me he tries to eat my hand off. This year, I’m getting through the week with the help of an adrenaline rush from daily 6 AM workouts powered by Lady Gaga, a double-shot Americano in the afternoon and the possibility that Love Actually can be watched at any point in the day because there’s no class.

Oh…and the growing number of fashion video editorials like the one above for Chanel No. 5 by the director of Amelie.

The two most visited posts on my blog are College Chic: The Messenger Bag and Louis Vuitton and the Economic Crisis. The first one I can’t do much about. The second one, however, is less about LV’s actually economic performance and more about its image. To benefit those who Google “louis vuitton and the economic crisis” I give you here a more robust analyst report compiled late at night, while doing laundry, by yours truly for LV’s parent company, LVMH. It’s neither comprehensive nor perfect. It’s probably more waxing and idealistic, but you get the point. Ask questions in the comment section, and I’ll be sure to get back to you.

LVMH Moet Hennessy Louis Vuitton (LVMH) – as traded on the Paris Stock Exchange (An ADR is available OTC in the US)
Price (11/09):          74.90 EUR
Market Cap:             36.7b EUR
Dividend:                 1.60 EUR
Yield:                         2.14%
52 Week Hi/Lo:      75.89/38.10 EUR

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LVMH Moet Hennessy Louis Vuitton is the world’s largest luxury company that, as a conglomerate, has existed since 1987, but, accounting for its numerous entities, can trace its roots to the 16th century. Now based in France and run by CEO Bernard Arnault, the company is divided into five major divisions: Wines & Spirits, Fashion & Leather Goods, Perfumes & Cosmetics, Watches & Jewelry, and Selective Retailing. Notable brands under the LVMH umbrella include Moet & Chandon, Hennessy, Veuve Clicquot, Louis Vuitton, Givenchy, Guerlain, Sephora, Fendi, Pucci, Marc Jacobs, Thomas Pink and over 50 others. While its holdings are impressive, LVMH’s enormous reach into the global luxury market exposed the company to some of the harshest aspects of the recent global financial crisis. This same reach, however, may be just what helps move the company forward as 2010 comes around the corner.

Overall, if one were really to ask the question, “How did LVMH perform during the financial crisis?”, the answer would be, “Fairly well.” LVMH reported revenues of over EUR 17 million in 2008, a 4.3% increase from 2007. (See its Annual Report and Financial Statements.) Other than Hermes, it was the only global luxury retailer to report a net profit for 2008, though 4th quarter comparable sales were down year over year. The hardest hit division was Wine & Spirits. Perfumes and Fragrances were the primary sales drivers. Of total net sales, including all divisions of the company, 14% were generated in France, 24% in the rest of Europe, 23% in the US, 30% in Asia and 9% in the rest of the world.Though year over year profit was down for both the 2nd and 3rd quarters of 2009, LVMH has managed to increase its revenues and keep its operating margins relatively steady. Destocking of wines, spirits and department store inventories have contributed to this stability. Given that analysts predicted the luxury industry would shrink by at least 10% in 2009, LVMH’s performance, while not stellar, is to be commended.

The trepidation that surrounds LVMH today, consequently, has less to do with its financial efficiency and more to do with its place in the global luxury market at as a whole. At a recent Innovation Forum hosted by LuxuryLab, several luxury executives came to the conclusion that, “today, affluent consumers are becoming less interested in traditional status symbols and more interested in ‘content-rich status experiences.’” In other words, those who still care about luxury are less concerned with status symbols and more concerned with a way of life. I would argue that this is because Gen Y was raised with the “I have the luxury to do whatever I want” instead of “I have the luxury to buy whatever I want” mentality. And now, it’s Gen Y that’s taking the reins of the business sector. Some doubt whether or not LVMH will be entirely able to make the necessary shift to mirror this changing mindset.

According to an article in the Economist in September 2009, LVMH’s four elements are “product, distribution, communication and price.” As the article explains, the company hopes to do the first three so efficiently, people forget about price. And, for the most part, LVMH is succeeding. As far as fashion and leather goods are concerned, the products of the company’s various entities continued to be some of the most sought after high quality items in the world. And, given its global diversification, distribution also doesn’t seem to be a problem. Furthermore, in a recent analysis by LuxuryLab, Louis Vuitton has the highest “Digital IQ” of any other fashion brand because of its large social networking presence. Thus, it is price that is LVMH’s biggest concern. As unemployment and jobless claims rise and incomes continue to fall, many are unwilling to pay the large sticker prices of luxury goods, or at least unwilling to face the guilt associated with the purchases.

How does LVMH hope to combat anatogism towards its prices? By getting back to the “basics”. It’s much easier to justify spending an exorbitant amount of money on a watch when you know the profits are going to the person who helped hand make it and not to the construction of another lavish store with a purse bar or two. LVMH is at a distinct advantage, however, compared to most other luxury firms. Its status as a conglomerate means that it does not face the problems of smaller fashion houses, like Escada, that are backed by a single private equity group. And the fact that over 75% of its sales are outside of the US, the hardest hit market in the crisis, likely mean that the company will be able to recover faster as 2010 comes along.

Consequently, if LVMH is going to continue to come out of the economic crisis as strong as ever, it’s going to have to do as many, if not all, of the following: keep its margins tight, embrace the digital age as much as possible, communicate (but not necessarily sell) to as many people as possible, and accept a dynamic rather than static definition of luxury. We are at a point right now where global lifestyles are changing drastically and rapidly and a new generation of consumers is taking control: Gen Y. Gen Y, however, has no money because no one left any for us. What we have are our ideas, our creativity and our iPhones that we hope to be able to drool over the latest runway shows with. Despite its financial strength, LVMH, just like all other fashion houses, cannot afford to miss this shift, not after nearly five centuries of sales and innovation.

Happy Halloween! John Galliano’s show in Paris a few weeks ago was the only one that I felt appropriately represented the ostentatiousness and deviousness of this particular holiday. Enjoy!

1. Leave the Tags – Hey look, another trench coat. I don’t love the cut of this one because, if you have hips of any sort, you have to be very careful what you wear for bottoms. But…not only does the coat have broaches alla Madeleine Albright, but it also still has little price tags all over it, like the kind you find at Midwestern antique stores. Will people now be wearing price tags like they carry around shopping bags from designer stores?

2. Destroyed Black Mini – This goes beyond the distressed boyfriend look and completely destroys the skirt, but, instead of ripping holes, it plays with buttons, lace, etc. Tricky. This could get bulky easily, but it looks nice with the peasant-like top. Have we found a new utility skirt?

3. Lace it Up – Lace is all over the place in Galliano’s show, but I like here how it forms a structured jacket and it’s not entirely see through, completely changing to of the purposes of lace. Again, tricky.

4. Show Some Skin – I love a plunging v-neck. And, this one’s great because it’s sheer but doesn’t actually reveal the skin on the chest….look closely. There’s a yellow one earlier in the show (covered up by a trench coat). Cool, fun, flirty yet grown up.

5. Greek Goddess of the Future – This dress stands out because to some extent it’s out of place with the rest of the show. It’s shiny, flowing, airy and gorgeous. Yet, the bold color, the make-up, and the determined look on the girl’s face…then, look at Galliano’s devious expression at the end of the show. Devious. You better hope that there aren’t Greek goddesses in the future, because they don’t look like someone you’d want to mess with.

(Photos via NYMag)

In the world of fashion, a Buyer, like Erin Mullaney at Browns, is one of the people who, after the dust has settled on the fashion shows, makes things happen. They are part of the select group of people who filter designers’ masterpieces into wearable, sellable pieces. They are the people who help select which colors, styles and trends make it to the stores and which don’t.

The way I see it, there are three ways a Buyer can approach a designer’s line. 1) They can go with their own gut feeling about trends, wearability, price range, target customers, etc. 2) They can use specific market analysis of consumer tastes and a barometer of how consumers are reacting to market conditions. 3) They can find what they feel the designer did best and channel that into the public. Ideally, I think it should be a little bit of all three.

Because I don’t want to aimlessly watch the fashion shows in my copious amounts of spare time, I’ve decided to go through the shows I watch and pick out what I think would be 5 key pieces a Buyer would pick out, ideally approaching the project from all three perspectives. And, it really doesn’t matter if I’m right or wrong because, well, I’m a total nube at this.

Anyway, to start off, I give you 3.1 Phillip Lim SS10 RTW as shown in New York.

1. Ruffled Dress – This year, in a few instances, Lim followed the general trend of turning over-sized night shirts into dresses. For the most part, however, he preferred embellished mini-dresses. This one is perhaps the most wearable because it has no obstructions in front and, instead of accentuating the hips, with the black bands, makes them appear smaller.

2. The Tank – Over half of this season’s collection involved separate tops and skirts. The loose fitting tank with embellishments would go with anything–jeans for class, fun skirts for dates and dark pants and heels for night. Stylish and universal.

3. The Altered Trench – Several Shows this season featured some form of a trench coat. Most of the others in Lim’s line this season were boxy and covered up everything beneath them. This one, however, keeps a flattering neck line, reveals a bit of the dress underneath and adds some variety with the cropping and asymmetrical buttons.

4. The Gold High Waisted Pants – High waisted pants and skirts are ubiquitous in this year’s collection but this particular pair, with the gold and the rolling at the ankles, makes the look softer and more feminine, which is good for people who aren’t as rail-thin as models. These are almost an update of a pair Penelope Cruz wears in Vicky Christina Barcelona.

5. Red, Sleeves and High Waist - This look strikes me as the epitome of Lim’s SS10 line. It has the high waisted pants, the little barrettes in the hair, the boyfriend jacket with Rosie the Riveter sleeves (response to economic environment?) and the plunging neck line to reveal skin in the same way as short sleeves. This would probably be too much in one look if it weren’t pulled together by the red. It’s time to move on from Hillary and Heidi’s hot pink pantsuits and slip into the red. We’re on the back end of the recession. Time to get to work.

(photos via NYMag.)

I think so.

Today I broke out the Oxford shoes I bought in Paris last fall, paired them with my military jacket and was set to go. Too bad I had nowhere to go. Instead, I finished all my work for the entire week. Now what do I do?

Muse.

- Lady GaGa has some new songs. I particularly like Bad Romance, but possibly because it mirrors the fact that I’m getting antsy. Middlebury is really small.
- I already have 2 pairs of boots, but want a pair the really dominate. Like these. Some little fall dresses would be nice, too. Clearly the insanity of the last week has made me more materialistic than usual.
- I really wish I spoke better French.
- Job interview season is like taking a fifth class…with field trips.
- I love the fact that I have my Corporate Finance class right after Modern Architecture. It’s the perfect way to use both sides of the brain.
- I have found that the fastest way to get ready in the morning is to put on an episode of something (Mad Men, Lie to Me, Castle, Glee, Gossip Girl) in the background. 42 min and 43 sec or give up.
- Free designer perfume samples are the best way to take the musty smell out of dorm rooms.
- Fashion consultants say Asia is leading the global recovery and so do finance gurus. See, I can be both.

(Photo via Jak & Jil)

I’m feeling very “Annie Leibovitz” today, minus the whole bankruptcy thing. Black and gray clothing, messy hair, basic (sun)glasses, boots, brooding yet content.

Other things on my mind today:

- Robert Shiller’s article on Financial Innovation in the FT. I find his choice of venue just as interesting as his choice of argument.

- Bye bye, Ken.

- The luxury industry’s under-utilization of Web 2.0.

I haven’t had nearly enough time as I would like to watch the Spring/Summer 2010 fashion shows. (To date, there has been New York, London and Milan. Paris is next.) But, here’s a sampling of what I’m liking so far and what I hope to see more of.

Images via NYMag