Fashion People – "Lauren Sanchez's New Bag"

Host: Lauren Sherman
Guest: Chantal Fernandez (The Cut, New York Magazine)
Date: January 30, 2026

Episode Overview

This episode of Fashion People dives into the rarefied world of luxury fashion’s Very Important Customers (VICs)—the mega-spenders whose preferences, presence, and personalities increasingly shape the industry. Host Lauren Sherman, fresh off Paris couture shows, welcomes Chantal Fernandez for an inside look at what it really means to be a VIC in 2026. They discuss how VICs have become central to brand strategies, unpack the Lauren Sanchez phenomenon in couture, debate the “ick factor” of client selection, and muse on big-picture shifts in luxury consumption—all with a candid, analytical, and irreverent tone.

Major Discussion Points & Insights

Couture Recap and Consumer Shifts (03:00–12:30)

• Personal Impressions of Couture Season
  • Lauren shares her recent experience in Paris—how couture remains about selling dreams and a few extremely expensive clothes (typically $300K–$400K a piece).
  • She praises Chanel’s subtle evolution: “If I was a rich lady, that's what I would be buying.” (05:48)
  • Discussion of Dior and Chanel’s balancing act between legacy and modernity.
• Category Health and Market Trends
  • Despite talk of a luxury slowdown (eg. LVMH’s earnings dipping, changing consumer spending priorities), insiders remain bullish—particularly on brands like Celine and trends like the popularity of cruises.
  • “Is it going to be the same kind of growth that they saw for the last 15 years? I don't think so.” (11:25, Lauren)

Notable Quotes & Memorable Moments

On Customer Age & Taste

“Chanel... understands its brand positioning and its need to change a bit for a younger consumer. I'm not talking about like Gen Z, I'm talking about like 40-year-old women...”
(Lauren, 07:30)

On Market Realities

“This business is not going away. It's still gonna be incredibly profitable. It's just... not the center of consumer spending anymore.”
(Lauren, 10:43)

On the Dream of Couture

“Couture is a very unique category because it's like the ultimate example of selling a dream. But you also do like, ostensibly have to sell the clothes.”
(Lauren, 04:30)

The Role and Rise of VICs (18:49–25:05)

• Who Are the VICs?

  • Chantal defines Very Important Customers as those “who spend an outsized amount at a brand... rewarded and encouraged to keep spending with a bunch of perks that have nothing to do with dresses and handbags.” (20:06)
  • The top 2% of customers now generate more than 40% of sales for luxury brands. Chantal suggests, “that ratio has only gotten more stark.” (19:23–19:44)

• Perks and Costs

  • Brands invest heavily in the VIC experience—think first-class flights, five-star hotels, exclusive events, and more—but also expect six-figure minimum annual spends for runway show access.
  • “You're taking... your profit off of that after you know the margin on that is 40% or something... and then you're left with like a 60 grand profit. That's still pretty good.”
    (Lauren, 23:19–23:54)

• Tiering Among Customers

  • Spend thresholds for VIC status: $200K–$300K a year for larger houses; lower for smaller brands.
  • Not all perks are equal—sometimes brands cover travel, other times just experiences.

The Lauren Sanchez Phenomenon (26:06–31:52)

• Why All Eyes Are on Lauren Sanchez

  • Lauren Sanchez, now ubiquitous at couture, is emblematic of the new VIC era—her presence has triggered debate over the “type” of wealth and person the industry platforms.
  • Lauren notes audience backlash: “People were really enraged... Look, like, this is not a commune. Like, this is not... Fashion is a capitalist business.” (26:19)

• On Access and Brand Choices

  • Chantal explains the outrage: “It's not just that she's buying, it's that she's backstage hugging the photos... she's getting that access, that personal access.”
  • The industry’s long-standing willingness to court big spenders, regardless of optics: “Fashion brands don't discriminate. If you have the money, you can buy something.” (28:15, via Kathy Horyn quote)

• Ethics and Realpolitik

  • Chantal: “It is icky, but it's not new.” (29:27)
  • Lauren: “These are capitalist businesses that people have, like, emotionally invested in.”
  • The brands are not above quietly excluding VICs whose image doesn't mesh with the latest creative vision (“one of these luxury brands uninviting a Vic because they didn’t like the way that she looked... the creative director didn’t want her front row...” (31:00)).

Managing Social Dynamics and Brand Perception (32:30–36:39)

• Influencer-VIC Overlap

  • Discussion of The Row’s “Substacker drama” as an example of blurred lines between influencer and client, and how luxury houses navigate aspirational but sometimes “tacky” client content.
  • “A lot of these luxury brands have clients that they're ashamed of, but that they have to keep entertaining. And they can't. These people are buying from them.” (34:48, Chantal)

• Social Climbing and Friendship

  • The VIC world has club/sorority vibes—people buy in for a sense of community, access, and status. Brands both foster this and try to maintain mystique.

• Regional Growth

  • US remains a stronghold for VICs, but much brand energy is directed at the Middle East and China.

State of Couture and Red Carpet Impact (38:15–40:32)

• Both Lauren and Chantal agree that this couture season’s designs straddle wearability and drama, with pieces not always translating for Instagram—but that’s “healthy and indicative of who the customer is.”
• Schiaparelli stands out as a burgeoning cult favorite among VICs, especially American clients. Daniel Roseberry’s hands-on approach is noted: “He’s from Texas. He gets it.” (40:00–40:32)

Memorable Quotes by Timestamp

• On Chanel’s Strength:
  “It really is. Any fashion writer or critic who says that their own taste doesn't kind of come into their assessment of brands is lying... but in this case...I love it.”
  (06:01, Lauren)

• On VIC Spending Stats:
  “The top 2% of customers generate more than 40% of sales for these luxury brands.”
  (19:25, Chantal)

• On Brands’ Client “Shame”:
  “These luxury brands have clients that they're ashamed of, but that they have to keep entertaining. And they can't. These people are buying from them.”
  (34:49, Chantal)

• On the Ethical “Ick” Factor:
  “It is icky, but it's not new.”
  (29:27, Chantal)

• On Social Motivations:
  “I think some people do it to make friends, especially among the younger people...there's a type of vic that we never see at shows who never wants to meet other clients and doesn't care about this at all.”
  (36:40, Chantal)

Key Timestamps for Important Segments

• Couture Recap & Market Trends: 03:00–13:30
• What is a VIC? 18:49–21:00
• Perks, Costs, and Brand Math: 23:00–25:22
• Lauren Sanchez in Couture: 26:05–32:00
• The Row & the Client-Influencer Line: 32:30–34:40
• Community/Social Dynamics: 36:20–37:20
• Couture & Red Carpet: 38:15–40:15

Tone & Style

• Direct, candid, analytical, with an undercurrent of humor and occasional irreverence.
• Lauren Sherman is both insider and skeptic; Chantal Fernandez covers the luxury landscape with calm precision.

Recap Takeaways

• The fashion industry’s economics and culture are more tied than ever to a tiny, global cohort of buyers—VICs—who shape everything from design to marketing.
• The Lauren Sanchez moment is both new and not new: social media accelerates and amplifies the age-old dynamics of money, access, and image management in luxury.
• Whether you love or loathe the elite mechanics of fashion, understanding the modern VIC is key to understanding how the wheels keep turning—even as the audience for couture and luxury evolves.

For further insider scoops, check out Lauren’s Line Sheet newsletter at Puck, and watch for Chantal’s continued coverage at The Cut and New York Magazine.