Fashion Briefing: How Jenni Kayne's New Store Concepts Are Driving Growth

The 20-year-old brand, founded by Kayne as a clothing brand in California after she dropped out of college, has grown into a lifestyle empire with women’s clothing, beauty and home goods and 29 stores across the United States. It’s all part of Pacific Group, the Kayne family business that was created in 2022 to encompass Jenni Kayne, Jenni Kayne Home and Oak Essentials. Its revenue has grown from $120 million in 2022 to more than $140 million last year, and the DTC-focused business is profitable.

The growth of the Jenni Kaynes brand is due, in part, to the support of celebrities who make kings like Meghan Markle and Emma Stone. Kayne's embrace of the understated luxury trend that has defined fashion over the past two years was also a factor.

According to Kayne, the brand’s stores are the most important drivers of future growth. The most recent opening was a boutique in Carmel-by-the-Sea, California, which will be followed in the fall by the opening of Farmhouse, a shopping and hospitality concept in upstate New York. Farmhouse builds on Jenni Kayne Ranch, a similar hotel-retail combination that opened in Santa Ynez, California, in 2022.

The farm will be home to the Oak Essentials Wellness Club, a first for Jenni Kayne. The space will feature products from the 3-year-old beauty brand Oak Essentials, as well as offer esthetician services and Pilates classes to guests. Kayne called the farm and its wellness club a true wellness haven showcasing everything the brand has to offer.

According to Kayne, opening new stores and physical spaces with unique concepts will continue to be a theme for the brand.

“We’ve been opening about five stores a year for the past few years, a trend that’s been driven by our desire to expand into new markets and bring our world to life through the in-person retail experience,” Kayne said. “E-commerce is a critical part of our business, but when you walk into one of our stores, you really understand and feel what the brand stands for.”

Statistic of the week

24%

That’s how much Moncler’s profits have grown in the last quarter, the Italian company announced Wednesday night. That’s a far cry from the 50% drop in profits announced the same day by Kering, another luxury company. The day before, LVMH had reported a 14% drop in the same metric. While the rest of the luxury market may be going through a downturn, the strong performance in China has allowed Moncler to avoid the trade problems plaguing the rest of the sector.

New funding for craft products

On July 18, the American nonprofit Nest announced the launch of the Makers Future Fund. Nest aims to connect artisans with brands and retailers among its partners, including Amazon, Anthropologie, Crate & Barrel and Gap.

This program was designed to address a challenge facing creators in the United States: small business financing, said Rebecca van Bergen, Founder and Executive Director of Nests. By combining business development grants with expert coaching and peer support, we are equipping creative entrepreneurs with the resources to succeed, making our communities more vibrant, beautiful and inclusive.

Nest says the fund will help about 60 artisans per year create long-term financial projections and future-proof their businesses. The fund also has backing from major companies, including Pinterest, fintech firm Block, and Etsy, though the latter has been specifically accused of alienating craft makers on its platform in recent years.

The craft market in the United States is already quite large, with over $331 billion in annual sales. Etsy alone accounts for nearly $3 billion of that market. But sales of craft products are expected to more than double to $744 billion over the next eight years.

Over the past two years, fundraising has been an increasingly volatile experience for founders. Executives told Glossy, both on the record and anonymously, that it’s extremely difficult to get funding for anything (other than AI) because investors want immediate profits and are skeptical of new ideas.

Travel of executives

Vanessa Wallace, formerly Nike's head of brand marketing, was appointed CMO at Rihanna's Savage x Fenty.

Sergio Rossi has announced CFDA Award-winning designer Paul Andrew as his new creative director Wednesday.

And on Monday, Peter Hawkings, who was named creative director at Tom Ford in April 2023, announced his departure after just one fashion season.

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