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Agentic commerce isn’t a future concept. It’s already reshaping how people shop. Static storefronts are giving way to guided,

conversational experiences that don’t just surface products. They drive decisions and conversion in real time. Swap’s Agentic Commerce 101 breaks down what’s real and what it means for brands right now. Inside:

• What agentic commerce is and why most AI tools don’t qualify

• Why AI discovery platforms aren’t built to convert for your brand

• Why owning your AI experience and your data is becoming non-negotiable

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Last week in Milan, I was having a conversation with one of my favorite editors-in-chief about the state of fashion. “Here’s the real question,” she said. “How are these fashion editors affording all this Chanel and Phoebe Philo?” The answer, of course, is credit cards, trust funds, and shopping addictions; it’s not like either of these brands are in the business of gifting. (Maybe a discount for the lucky ones.)

But her instinct to name those two brands said everything about who’s on top right now. Besides Matthieu Blazy at Chanel, the only other obvious, recent fashion success story is Phoebe Philo. Stop by the expanded shop-in-shop at Galeries Lafayette on Boulevard Haussmann, in Paris, for proof: Everything sells out fast, and it’s always busy with shoppers transacting. Last week at Salone del Mobile, the design fair in Milan, I spotted so many women in Phoebe pieces—mostly wearing shoes and gig bags, but also the twill Harrington jacket and the trousers. In Europe, where there’s still a walking culture, not to mention a get-dressed culture, her collections are made for real life. A pair of €1,200 pants can carry you through a season; so can a €650 ballet flat, or a €420 belt.

A MESSAGE FROM OUR SPONSOR

Agentic commerce isn’t a future concept. It’s already reshaping how people shop. Static storefronts are giving way to guided,

conversational experiences that don’t just surface products. They drive decisions and conversion in real time. Swap’s Agentic Commerce 101 breaks down what’s real and what it means for brands right now. Inside:

• What agentic commerce is and why most AI tools don’t qualify

• Why AI discovery platforms aren’t built to convert for your brand

• Why owning your AI experience and your data is becoming non-negotiable

👉 Download the full report

These prices are nowhere near affordable, but they are arguably reasonable in the context of what Big Luxury is charging these days. At the beginning, one of Philo’s challenges was that pieces cost more in the U.S. than the British and European originals. Now that’s changed—a pair of ballet flats costs $850, practically unheard of at a time when it’s hard to come by a designer shoe under $1,000—and so Americans are getting on board, too.

Despite a predilection for a certain strain of exclusivity, Philo is making sure the U.S. market can access her goods. In its earliest days, the brand was focused on selling to V.I.C.s. Now the U.K.-based company, which is already generating something like $30 million in annual revenue, has gone wide on Mytheresa this season. And after months of speculation, the brand will open a shop-in-shop on the fourth floor of Bloomingdale’s 59th Street flagship. Launching in late June with Philo’s “Collection D,” the space will feature ready-to-wear, shoes, handbags, eyewear, jewelry, and will later carry the highly anticipated “Collection E”—her best-reviewed yet.

The launch is a testament to Bloomingdale’s chief merchant, Denise Magid, and C.E.O. Olivier Bron’s success in filching market share from the likes of Bergdorf Goodman and even Nordstrom, whose executives created a war room at one point to tackle the Bloomies threat. It’s also a credit to Macy’s Inc. C.E.O. Tony Spring, who has encouraged the Bloomingdale’s team to push luxury hard—a seed he planted when he was running the store himself, prior to his big promotion.

In many ways, it’s remarkable that PP is extending itself this way. During Céline’s Philo era, super-merchant Sarah Rutson, who has a direct relationship with the designer, did everything she could to get the totally offline brand—no e-commerce, no social media—to sell at Net-a-Porter when she was running things there. It never happened because Philo had a tremendous store network to rely upon. In the past year, though, Philo has used new retail distribution—from Bloomingdale’s and Mytheresa to McMullen in San Francisco—to ramp up sales and increase cashflow in order to open her own stand-alone stores in London and beyond. (They’re coming soon, I promise.)

Philo has taken a different approach with media buying, too. Rather than showing up in every glossy magazine, or even somewhere like The New York Times, Philo has used her accidental-influencer status to make social media her main channel to distribute visuals, which are shared and copied endlessly. She has also experimented with print advertising.

You’ll find a Phoebe Philo advert in the new issue of Double, but that’s no surprise. She has a long working relationship with editor-in-chief Fabrice A. Paineau. What was perhaps more intriguing was an extensive spread in the current issue of the Erotic Review, a U.K.-based literary and arts journal “exploring desire.” Phoebe Philo was the exclusive advertising partner for the book, and occupied the Playmate of the Month–like centerfold, including a tear-out poster of that soon-to-be-iconic image of a model on a bike wearing the Pace runner (already in competition for the shoe of the summer). There is nothing base or overt about the advertising, and it is certainly on-brand. After all, Philo is the reason that sex is back in fashion.

At minority-owner LVMH, I’m sure folks are feeling both proud and annoyed. Their funding is one main reason that Philo has managed to get so far, so fast. I am also sure they wish she was still designing for one of their billion-dollar-plus businesses, most of which could benefit from Philo’s facility for connecting with consumers. Also, the PP business is being run by Philo and her husband, Max Wigram, neither of whom has the operational experience of a more traditional executive, which may be frustrating for LVMH executives who see mistakes being made in real time—and recognize that great designers matter, of course, but they are only one ingredient in an exceptional fashion business. But maybe that’s the key to success here. All they need is time, money, and the opportunity to learn a few lessons.

I truly love this Chloë Sevigny editorial, especially the composition of the Louis Vuitton dress. Shot by Chaumont–Zaerpour. Styled by Robbie Spencer. Written by Laia Garcia-Furtado. [Harper’s Bazaar]

Emerging designers are finally getting some time on the red carpet in between contractual obligations. I credit Danielle Goldberg with being unafraid to pull the likes of Colleen Allen and Lii. [Vogue]

I’ve always liked Atlanta-based influencer Reese Blutstein a lot; here, she documents her “decade on the internet.” It’s interesting. [With Care]

You can now get Attersee at Bergdorf Goodman. [Enjoy]

I went to see The Drama this weekend. My big takeaway? We all need to be wearing a berry lip. (My combo is Violette Bisou Balm in Amour Fou and Ilia Lip Sketch Hydrating Crayon in Night Bloom.) [Allure]

Here is Beyoncé wearing Saint Laurent in her lead-up to co-chairing the Met Gala with Anthony Vaccarello. [Instagram]

Jodie Chan, the woman who made my Dario Versace suit dreams come true, got the Jenny Kim job at Bottega Veneta. [WWD]

Until tomorrow,
Lauren

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