Thakoon Panichgul has a new business partner. Vivian Chou, a daughter of Silas Chou and the leader of Bright Fame Fashion, a family investment vehicle, has taken a majority interest in Panichgul’s 11-year-old company.
Thakoon is Bright Fame’s first major investment. According to a press release, Panichgul will remain chief creative officer of the Thakoon brand and Maria Borromeo will continue as CEO of Thakoon USA. But there will be other changes. Building on the brand’s current foundation, Chou and Panichgul are looking to pivot toward a new business model, one that delivers “real time” designer fashion—i.e., “show now, see now, buy now, wear now”—with an omni-channel approach. E-commerce is expected to be a key component, complemented by brick-and-mortar stores and social sales.
“This exciting partnership will allow me the opportunity to build upon the Thakoon foundation and bring it to the next level, while focusing on designs that have made Thakoon so special to customers,” Panichgul told Vogue.com exclusively. “We will be reaching a wider audience, and engaging in ways that bring them ever closer to us.”
In a statement, Chou added, “Our partnership with Thakoon comes at a time when the brand’s foundation is strong, our collective vision is clear, and the industry is incredibly dynamic. The cultural conversation is increasingly provocative and accepting of change, new ideas, and channels. What comes next will be an evolution, and a total embrace of innovation for the Thakoon brand.”
2015 is the year that fashion began to seriously question the runway show system; Panichgul is only the latest designer to do so. Raf Simons abruptly left Dior in October, at least in part because of the relentless show schedule. On Wednesday, LVMH Prize winner Thomas Tait announced he’s opting out of a runway show to focus his energy and funds on what counts: the clothes. As for the preseasons, more brands are choosing to hold images until the clothes are in stores—there can be as much as five to six months between a presentation and deliveries—in hopes of preventing customer fatigue.
Panichgul, who celebrated his 10th anniversary last year by re-creating some of his hits for a capsule collection at Barneys New York, is a dress specialist with a flair for print, though lately he has found a lot of success with uniquely cut shirts. Earlier this year he combined his signature collection with his more affordably priced line, Thakoon Addition.
It has not been confirmed, but Panichgul could take a hiatus from the runway during the Fall 2016 shows in February and use the time to work on the new real-time business model, to be unveiled later in the year.
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