Luxury fashion business Victoria Taylor Ltd is reporting a positive first quarter of FY25 (March to June), with founder and creative director Vicki Taylor telling Ragtrader this indicates a “promising trajectory” for the future.
Alongside her own fashion labels Taylor and Symetria, Taylor’s luxury business also includes designer retailer The Shelter - which stocks both local and international designer labels.
“Financially, the last year has been particularly strong for us,” Taylor (pictured) says. “We finished the previous year with significant growth compared to the prior, achieving our largest January and February to date.”
This positive growth is despite market challenges affecting clothing retailing in New Zealand - including plummeting sales across fashion, rising business costs and surging retail crime - which has led to some long-running businesses closing doors. Department store Smith + Caugheys will shut up shop in 2025, with designer labels Kate Sylvester and Maaike confirming they will close doors soon alongside newcomers Mina and Hej Hej.
Another blow to the fashion industry was the cancelling of New Zealand Fashion Week for 2024.
Taylor confirms that her business has also recorded a significant increase in business costs over the last few years, particularly across manufacturing. Her Taylor business in particular is based in Eden Terrace, Auckland, with all products designed in New Zealand and, wherever possible, made in New Zealand.
Despite the rising costs, Taylor says the brand’s commitment to quality is paramount.
“Our Italian and Japanese fabrications have always been at the heart of our collections, and we believe that continuing to use these premium materials sets us apart,” she says.
“Supporting local manufacturing also comes into play. By prioritizing local production where we can, we can ensure high standards but also contribute to the community and local industry.”
She also cited team building and customer interaction as other key factors in the recent successes. According to Taylor, the challenges of hiring during the pandemic were significant, but her business has emerged with a renewed focus on placing the right people in the right roles.
“Additionally, we are committed to the ongoing development and upskilling of our team, helping them grow and excel in their positions with all the right resources.
“We are [also] focusing on being exactly where our clients want us, providing the styles they are looking for, and continuously enhancing our services,” she said. “As a high-touch brand, service has always been at the core of everything we do.”
Speaking on her luxury retailer The Shelter, Taylor said the brand’s recent growth comes off the back of her emerging designer program, which allows start-up designers to sell their work within an award-winning conceptual space.
Taylor says these emerging designers can control every aspect of their brand’s identity and representation, such as merchandising, launching in-store activations, creating window displays and hosting events.
“It doesn’t happen overnight, but our brand offering does evolve throughout the year,” Taylor says. “When we first opened the space 10 years ago, we had 50% fewer racks than we do today. It’s all about fostering relationships with our existing brands and giving opportunities to new ones.”
The program also offers support across all business areas, including guidance in marketing and e-commerce, assistance with production and manufacturing, support across retail financials, and mentorship from Taylor herself.
The Shelter initially held brands such as Maggie Marilyn, Wynn Hamlyn and Paris Georgia in the early years, and has since expanded into owned bricks-and-mortar and into international markets.
The retail business currently stocks 18 New Zealand brands, all at different stages of business growth, alongside a wider selection of international labels including Rick Owens DRKSHDW, Uma Wang and Henrik Vibskov. Established local labels include Kiri Nathan, Company of Strangers, Lela Jacobs as well as new designers such as J’ake and Finding Jaga.
“We have just begun introducing menswear to the space,” Taylor says. “Whilst we consider all of our brands to dress everyone, we have been receiving quite a lot of requests to stock menswear brands that fit within The Shelter’s aesthetic.
“We were approached to look at young brand J’ake, who works closely with Kiri Nathan’s own indigenous designer program. He is still in his early months with us but his quality of work and fabrication has garnered a wonderful response from our clients.
“From this, we have now introduced another new menswear brand Finding Jaga. These brands both have very unique identities, it’s exciting to watch and build into this new market.”
Taylor’s business now operates five retail stores across New Zealand, with its fifth being opened in Dunedin last year, becoming a flagship South Island store and a creative amalgamation of her two brands Taylor and The Shelter.
“We already had a loyal database in the South Island with our Taylor Christchurch store, but we’re seeing an interest in our international brands, especially those that we hold exclusively, so we knew it was the perfect moment to bring The Shelter range to our South Island community.”
As for Symetria, the brand has been stocked in Selfridges in the United Kingdom for five years new, and is stocked in a host of independent boutiques globally.
Meanwhile, regarding surging retail crime in New Zealand, Taylor says she has yet to experience it first-hand, despite the brand increasing security measures to keep staff safe.
“Our bespoke service has definitely played a part in this, and customers are welcomed into the store and walked through the range,” Taylor says. “It’s a lot more personable within our smaller spaces.
“We also feel very supported by the business associations we are part of across the country. Newmarket, where our Auckland Taylor store is located, has had an amazing initiative, launching its own Newmarket Security and installing a new CCTV network to protect local retailers.”