Table of Contents

1. Key Highlights
2. Introduction
3. A leadership profile that signals intention
4. Accessories as a strategic lever: why bags matter
5. Reframing the product mix: outerwear, tailoring and leather
6. Retail as cultural platform: the new Marais hybrid flagship
7. Publishing and partnerships: becoming a curator brand
8. The “new luxury” framing and repositioning beyond streetwear
9. Distribution strategy: wholesale first, DTC later
10. Marketing and storytelling: the role of campaigns and cultural programming
11. Operational implications: sourcing, quality and scaling production
12. Financial considerations and commercial metrics
13. Talent and organization: building a team for growth
14. Market challenges and competitive context
15. U.S. expansion: calibrated, wholesale-led, pop-up testing
16. Measuring success: KPIs and milestones to watch
17. Strategic risks and mitigation strategies
18. What success will look like
19. Timeline and what to watch next
20. Broader implications for contemporary fashion
21. Final observations
22. FAQ

Key Highlights

• Brice Groulier joins Études Studio as CEO to amplify the brand’s cultural identity and scale accessories—targeting accessories to represent roughly 50% of sales.
• The strategy centers on handbags, strengthened outerwear and leather offerings, a larger Marais hybrid flagship with a bookstore and programming, expanded publishing and art partnerships, and phased U.S. expansion via wholesale followed by DTC pop-ups.
• The roadmap blends design upgrades with cultural curation: new product launches (first messenger bag debuted January), a bag-focused campaign slated for fall 2026, and a cultural program rolling out from September.

Introduction

Études Studio is repositioning. The Paris-based label, known for its intersection of fashion, art and publishing, has appointed Brice Groulier as chief executive officer and set a clear commercial and cultural agenda. The move follows the departure of cofounder José Lamali and a recent strategic refocus on the core label. Under Groulier, Études is working to convert cultural capital into commercial muscle—most visibly by expanding accessories into a central revenue stream, upgrading ready-to-wear with renewed attention to outerwear and leather, enlarging its retail footprint into a hybrid space that doubles as a cultural hub, and accelerating publishing and institutional partnerships. The next 18–24 months will test whether an art-rooted brand can scale without diluting the curator credentials that made it distinctive.

A leadership profile that signals intention

Hiring a chief executive with a finance and operations background signals that Études Studio is ready to move beyond boutique cultural playbooking and pursue measurable growth. Brice Groulier arrives after serving as chief financial officer at Jacquemus and earlier overseeing supply chain at Lemaire. Those roles combine two competencies essential for scaling a contemporary fashion brand: a commercial mindset attuned to financial performance, and operational fluency in production and sourcing.

Jacquemus illustrates how clear positioning plus rigorous commercial execution can convert cultural momentum into mainstream success. Lemaire offers a different kind of discipline—attention to material, construction and supply-chain resilience. Groulier’s résumé thus aligns with Études’ stated objective: preserve and amplify cultural credibility while professionalizing elements of product, distribution and marketing.

The timing matters. Cofounder José Lamali’s exit last June left Aurélien Arbet and Jérémie Egry at the creative core, with the management gap offering an opportunity to sharpen the business strategy. The company has also ended a collaboration with a French outdoor brand to refocus on its label. Together, these moves create a clearer organizational architecture for the new phase: creative leadership remains intact while the executive bench increases capacity for scale.

Accessories as a strategic lever: why bags matter

Accessories, especially handbags, are widely understood as high-margin, high-visibility product categories that can anchor a brand’s financial model. Études Studio’s plan to grow accessories to about half of total sales is ambitious but logical.

Current accessory sales are driven mainly by caps and headgear—items consistent with the brand’s roots in streetwear and art-world aesthetics. The introduction in January of the messenger-style Studio bag signaled a deliberate pivot. Études intends to expand the bag line annually and run its first bag-focused campaign in fall 2026.

Why a handbag strategy? Handbags play multiple strategic roles simultaneously:

• They offer higher gross margins than many ready-to-wear categories because consumers accept premium pricing for smaller, high-status objects.
• A successful bag becomes a brand icon, offering visibility in editorial and social channels and entry into high-turnover retail windows.
• Bags travel well across markets and seasons, smoothing revenue volatility tied to apparel cycles.

Translating those strategic advantages into performance requires more than design. It demands leather expertise, quality control, production scale, distribution partnerships, and a marketing narrative that elevates a bag from accessory to symbol. Études has signaled investments across those dimensions: an expanded leather jacket category and tailored pieces alongside the bag rollouts, and a full campaign scheduled to amplify the product in 2026.

The plan raises operational questions. Producing leather goods at scale often involves different supply chains, finishing processes and quality assurance protocols than ready-to-wear. Sourcing, traceability and compliance will become more visible operational priorities; Groulier’s supply-chain background should help navigate these complexities. Success will also depend on retail placement and storytelling—whether the Studio bag can achieve breakout status within crowded markets.

Reframing the product mix: outerwear, tailoring and leather

Études has been associated with standout outerwear—particularly bombers—since its early days. The new strategy emphasizes that heritage while expanding into tailored and leather segments. The objective is not to abandon the label’s aesthetic origins but to broaden the categories that can carry the brand’s identity.

Outerwear remains a category that offers both creative latitude and commercial resilience. Well-executed coats and jackets can become perennial sellers and travel well across seasons and geographies. The brand’s stated ambition to make outerwear “stars of the brand” points to curation of silhouette, materials and construction—presenting pieces that can sit alongside accessories in visual narratives.

Tailoring and leather jackets add two advantages. Tailoring elevates the brand’s design perception, aligning Études more closely with designer houses while retaining contemporary edges. Leather jackets require craftsmanship and material investment; successful leather pieces can justify premium pricing and create better margins.

Études says it does not plan to raise price points despite improvements in materials and construction. That creates an interesting tension: delivering higher-quality product while maintaining accessible pricing implies tighter cost management, possible sacrifices in margin, or strategic allocation—charging more for certain signature items while keeping other ranges stable. The outcome depends on sourcing efficiencies and the brand’s willingness to manage a tiered pricing architecture.

Retail as cultural platform: the new Marais hybrid flagship

The physical store will remain central to Études’ strategy, but with a different function. The brand plans to relocate its Marais boutique to a larger hybrid flagship incorporating ready-to-wear and a bookstore focused on art-world titles. The space will host cultural events—exhibitions, pop-up dining and experiential programming—and is slated to open next January during Paris Men’s Fashion Week.

This hybrid model performs multiple roles:

• It strengthens brand identity by situating retail within cultural practice rather than transactional commerce.
• It creates a destination that attracts both fashion shoppers and the art community, supporting publishing and partnership ambitions.
• It generates earned media through events and exhibitions, amplifying visibility beyond product launches.

Concept stores have a long track record of enhancing brand prestige. Colette built an aura by combining niche retail and cultural programming, creating a pilgrimage site for tastemakers. Contemporary iterations of that model—department stores and flagships that program events and curate editorial content—have become part of how brands differentiate physical retail.

For Études, the bookstore is a strategic statement. Publishing has been a core but under-communicated pillar—more than 30 books published to date, including a recent collaboration with Paris Photo. A visible bookstore will make publishing legible to customers and partners while offering a physical manifestation of the brand’s curatorial credentials.

A successful hybrid flagship requires careful balancing of retail KPIs with cultural outputs. Traffic-driving events must align with conversion metrics to make the space sustainable. Programming must be curated to attract the right communities—galleries, collectors, and curious consumers—without turning the store into an art gallery at the expense of apparel sales. The choice of Marais retains a proximity to Parisian creative circuits and international visitors during Fashion Week, maximizing impact at launch.

Publishing and partnerships: becoming a curator brand

Publishing is a surprising, potent lever for a contemporary label. Études has already produced more than 30 books and collaborated with Paris Photo, but historically the brand has not deeply communicated this dimension. Groulier plans to change that, expanding the publishing division and positioning Études as a “curator brand” of artistic projects.

Publications function as cultural proof. They embed the brand into dialogues about photography, contemporary practice and art criticism. A well-executed publishing program accomplishes several goals:

• It deepens relationships with galleries, foundations and artists.
• It builds content that can be repurposed for marketing and storytelling.
• It establishes intellectual property that differentiates the brand beyond apparel aesthetics.

From September, Études plans to roll out a cultural program including collaborations with galleries and foundations in France and the U.S., with specific partners to be announced in the fall. Such institutional tie-ins offer credibility and gate access to collector networks and cultural institutions that are often beyond the reach of typical fashion marketing.

Brands that have successfully integrated editorial and curatorial practice—sometimes called “brand-as-publisher” approaches—show how content can transform a fashion label into a cultural platform. The challenge lies in scaling this work without commodifying it; curated projects must retain critical integrity to sustain credibility among artists and institutions. The brand’s ambition to communicate publishing more visibly aligns with its desire to be recognized as a cultural actor, not merely a commercial entity.

The “new luxury” framing and repositioning beyond streetwear

Groulier frames Études’ trajectory as part of “new luxury.” The label started with streetwear roots but has “outgrown that phase,” evolving toward designer-level quality, materials and presentation. This repositioning tracks with broader shifts across fashion: consumers seek brands that combine craftsmanship, conceptual depth and cultural relevance rather than rely on pure logo play or fast-fashion trends.

“New luxury” often implies:

• Elevated materials and construction without the traditional luxury price ladder.
• A focus on authenticity, storytelling and cultural curatorship.
• A hybrid distribution strategy mixing wholesale, select boutiques and experiential direct retail.

Études’ approach—improving materials, adding tailored pieces and leather categories, expanding accessories, and amplifying publishing—maps onto that definition. The brand wants to retain democratic price accessibility while gaining designer gravitas. That balance is delicate. If the product quality rises significantly while prices stay flat, margins may compress unless sales scale fast or cost efficiencies are found.

This is also a market positioning bet. Many consumers now prize provenance, collaboration and editorial depth. By owning cultural territory—publishing, gallery partnerships, a bookstore—the brand builds intangible assets that justify higher perceived value even if price tags remain moderate. The risk is that without careful curation, the cultural program can feel performative; authenticity requires sustained investment and consistent programming.

Distribution strategy: wholesale first, DTC later

Études plans to strengthen wholesale partnerships in the U.S. before ramping up direct-to-consumer in the market. A first New York pop-up is expected in late 2026 or early 2027. The phased approach reflects practical considerations.

Wholesale-first advantages:

• Faster geographic reach through established retailers’ networks.
• Lower upfront investment in infrastructure and logistics.
• Immediate exposure to American buyers and editors via trusted retail partners.

However, wholesale constrains margins and brand control—retail partners can shape presentation and inventory prioritization. A later DTC push allows Études to:

• Capture higher margin when the brand achieves stronger recognition.
• Control storytelling and customer data, crucial for CRM and lifecycle marketing.
• Test products and price architecture via pop-ups before committing to permanent stores.

Pop-ups serve as an intermediary: they create targeted hype, allow testing of assortments, and establish retail learnings. A well-executed New York pop-up would function as both a market test and a marketing event, introducing the U.S. audience to the bag line and cultural programming.

Timing is important. The U.S. remains a key focus for growth, but entering the market effectively requires aligning product readiness, marketing budgets, and wholesale relationships. The success of the strategy depends on careful sequencing: build brand recognition through editorial and retail partners, then capture higher-margin sales through DTC as recognition grows.

Marketing and storytelling: the role of campaigns and cultural programming

Études intends to run its first major bag campaign in fall 2026. Campaigns, especially those that highlight a singular object, help brands claim a visual identity and anchor marketing calendars. A campaign timed with product rollouts and events—for example, coinciding with the Marais flagship opening or a gallery collaboration—can magnify impact.

Beyond traditional campaigns, Études’ cultural programming offers a distinctive marketing asset. Exhibitions, dinners and pop-ups create editorial hooks. Publications and gallery partnerships produce content that can be amplified across social and press channels with greater credibility than conventional ads.

Groulier’s challenge will be integrating these narratives in a way that reaches both fashion consumers and art audiences. The bookstore and in-store programs can create experiential moments that convert cultural visitors into customers, provided retail teams translate curiosity into purchase opportunities. Key metrics will include conversion rates from events, basket size linked to cultural attendees, and LTV (lifetime value) of customers sourced through publishing channels.

Operational implications: sourcing, quality and scaling production

Expanding into leather goods and aiming for higher-quality construction implies new operational demands. Leather sourcing, tanning practices, hardware provisioning and specialized workmanship require careful vendor selection and quality control frameworks. These choices carry cost, compliance and sustainability implications.

Groulier’s background in supply chain is a meaningful asset. Effective scaling will depend on:

• Building supplier relationships that can scale without compromising craft.
• Implementing quality control systems to maintain consistency across batches.
• Ensuring traceability and meeting increasing consumer expectations for responsible sourcing.

Sustainability is a reputational factor. Leather production attracts scrutiny on sourcing and environmental impact. Études will need to articulate its approach—whether through responsible sourcing, traceability, or partnerships with tanneries that meet certain environmental standards. Such commitments align with the expectations of high-intent consumers and institutional partners.

Manufacturing decisions will also affect margins and pricing. Producing leather and tailored items in Europe typically costs more than outsourcing to lower-cost regions but can justify premium positioning. The company must balance cost, quality and brand positioning—decisions that will shape profitability as accessories ramp up.

Financial considerations and commercial metrics

Targeting accessories as roughly half of sales implies a material shift in revenue composition. Achieving that target will require not just product creation but distribution growth, marketing investment and inventory management.

Key financial levers include:

• Wholesale agreements that provide revenue lift while managing inventory risk.
• Pop-ups and flagships that convert cultural attention into DTC sales and higher margins.
• Product mix optimization—identifying best sellers and allocating production accordingly.
• Pricing strategy that preserves accessibility for current customers while capturing value for upgraded products.

Groulier’s CFO experience suggests an emphasis on monitoring these metrics closely. The timing of investments—store relocation, campaign production, hiring—requires capital planning. The brand has expanded its team, with hires to be in place by June, indicating upfront operating cost increases that must be offset by sales growth.

One public nuance: Groulier insists the brand does not plan to raise price points despite higher material and construction standards. Maintaining price stability while delivering better product will compress gross margins unless offset by supply efficiencies, higher volumes, or selective premium SKUs. The brand may need to adopt a tiered offering: core ranges at familiar price points and new flagship items priced for margin.

Talent and organization: building a team for growth

Scaling a cultural brand requires new organizational capabilities: merchandising, wholesale account management, marketing at scale, PR, retail operations, and partnerships management. Groulier has already made a wave of hires; the expanded team should be in place by June. The composition of those hires will matter—experience in accessories, wholesale relationships in the U.S., and cultural programming expertise will be priorities.

Maintaining creative integrity as teams grow requires processes that protect creative decision-making while allowing commercial inputs. The original creative duo—Arbet and Egry—remain central to design, but organizational design must avoid diluting creative autonomy. Clear governance—whether through a product council, seasonal strategy sessions, or shared KPIs—can align commercial goals with creative vision.

Training frontline retail staff to speak to the brand’s publishing and curatorial work will be useful. Staff who can explain the meaning behind a publication or exhibition can elevate customer engagement and drive conversions. Similarly, wholesale teams skilled at pitching the new accessory lines and curating shop-in-shop placements will be important.

Market challenges and competitive context

Études faces a competitive landscape on multiple fronts. The accessories market is crowded with both legacy luxury houses and nimble contemporary labels. Breaking through requires not only a compelling product but also distribution, storytelling and timing.

Potential challenges:

• Competition for leather artisans and tanneries is intense; supply bottlenecks can delay launches.
• Building wholesale relationships in the U.S. requires differentiation; many retailers prioritize brands with proven sales history.
• Maintaining brand identity while scaling can dilute the cultural edge that differentiates Études.
• Pricing constraints—improving quality without raising prices—could squeeze margins if growth does not materialize fast enough.

Opportunities arise from the brand’s existing strengths. The publishing arm and art-world connections provide a distinctive narrative asset. Younger consumers and tastemakers often value brands that practice cultural curation alongside commercial activity. If Études can present handbags and outerwear with strong editorial backing—books, exhibitions, and partnerships—the product will carry deeper meaning than it would as a standalone commodity.

Real-world examples highlight these dynamics. Jacquemus turned a singular accessory—the Le Chiquito bag—into a cultural topic through creative marketing, runway visibility and celebrity adoption. Other brands have used editorial projects and concept stores to define themselves beyond apparel. Études’ path combines these tactics with a distinct emphasis on publishing and curatorship, which could differentiate the label if executed with consistency.

U.S. expansion: calibrated, wholesale-led, pop-up testing

North America is a key growth vector. The strategy to focus on wholesale first, then DTC, aligns with an approach that leverages retailer reach for initial brand-building while minimizing upfront investment in logistics and retail infrastructure.

Wholesale can provide:

• Immediate exposure to diverse consumer segments via multi-brand retailers.
• Credibility signals—being stocked by respected buyers often influences press and consumer perception.
• Seasonal feedback that informs DTC assortments and marketing.

A later DTC rollout through pop-ups allows Études to test markets, learn customer preferences and refine product-market fit. The projected first New York pop-up in late 2026 or early 2027 creates a timeline where wholesale partnerships and product refinements precede brand-owned retail. The pop-up can focus attention on the bag line and cultural programming—inviting editors, artists and buyers to experience the brand on U.S. soil.

Scaling beyond pop-ups to a permanent store, or a series of stores, will likely depend on performance data: conversion rates, repeat purchase behavior, and the brand’s ability to mobilize marketing spend in the region. The hybrid flagship model successful in Paris may serve as a blueprint for future international concept spaces.

Measuring success: KPIs and milestones to watch

Several measurable milestones will indicate whether Études’ plan is working:

• Accessories as percentage of revenues: movement toward the target of ~50%.
• Campaign impact: awareness metrics and conversion tied to the fall 2026 bag campaign.
• Retail performance: sales per square meter at the new Marais flagship; conversion from cultural events.
• Wholesale traction in the U.S.: number and quality of accounts, sell-through rates.
• Publishing engagement: book sales, event attendance, partnership activations with galleries/foundations.
• Margin health: gross margins across categories, particularly leather goods.
• Customer acquisition and retention metrics: DTC repeat purchase rates following pop-ups.

Tracking these indicators will reveal whether cultural investments translate into commercial gains. Success will depend on coordinated execution across product, marketing, retail operations and partnership management.

Strategic risks and mitigation strategies

Every growth plan carries risk. For Études, key risks include brand dilution, supply constraints, wholesale dependence, and margin pressure.

Mitigation tactics:

• Preserve a tight edit: limit SKUs to maintain design cohesion and prevent dilution of core identity.
• Phased manufacturing ramp: pilot leather goods in small runs, iterate with feedback, then scale.
• Selective wholesale partnerships: prioritize retailers that support curated merchandising and storytelling.
• Price architecture: introduce limited premium items that capture higher margins while keeping baseline ranges stable.
• Invest in storytelling: integrate publishing and programming into marketing calendars to keep the brand culturally salient.

Strong governance and disciplined operational execution will make these mitigation strategies effective rather than simply aspirational.

What success will look like

If the strategy succeeds, Études will evolve into a mid-size contemporary house with a distinct cultural footprint. Success markers include:

• A recognizable handbag silhouette in editorial and social coverage.
• A flagship that doubles as a cultural venue and sustains profitable retail sales.
• A publishing program that secures meaningful partnerships and extends the brand’s voice into art conversations.
• A growing U.S. presence with profitable wholesale placements and successful pop-ups that feed DTC expansion.

More broadly, success would demonstrate that a brand rooted in art and publishing can scale commercial operations without sacrificing curatorial depth. That outcome would reinforce the logic of “new luxury”—building value through cultural capital as much as traditional luxury mechanics.

Timeline and what to watch next

Key near-term dates and phases:

• June: expanded team expected to be fully in place.
• September: rollout of the cultural program, with initial partner announcements to follow in the fall.
• Next January: opening of the relocated Marais hybrid flagship during Paris Men’s Fashion Week.
• Fall 2026: first bag-focused campaign hits media.
• Late 2026/Early 2027: first U.S. pop-up in New York City.

Observers should watch campaign execution in 2026, wholesale listings in the U.S., and the success of the flagship opening as immediate indicators of whether the strategy is translating into momentum.

Broader implications for contemporary fashion

Études’ trajectory illustrates several broader dynamics shaping independent contemporary brands:

• Cultural programming and publishing are increasingly vital differentiators, helping brands cultivate communities and resilience.
• Accessories remain an attractive route to scale because of margin and visibility dynamics.
• Hybrid retail spaces that blend commerce with culture can create sustained engagement if they generate measurable commercial returns.
• Executive hires with cross-disciplinary experience (finance, supply chain, creative networks) can accelerate transitions from niche to scale.

If Études executes well, the label could become a case study in converting cultural capital into sustainable commercial growth while preserving a curatorial identity. If mismanaged, the brand risks stretching operationally and eroding the qualities that motivate its audience.

Final observations

Études Studio’s new chapter is a study in aligning cultural authenticity with commercial ambition. The leadership change and strategic clarity mark a decisive turn: the brand will not abandon its art-led DNA; it will amplify and monetize it through accessories, elevated product, a hybrid retail platform, and expanded publishing.

Execution will determine the outcome. The team must navigate supply chains, wholesale relationships, and a crowded accessories market, all while ensuring cultural initiatives maintain credibility. The plan balances creative continuity with managerial rigor—a combination that can produce both cultural resonance and financial growth when properly synchronized.

The next two years will reveal whether the Studio messenger bag becomes a defining object, whether the Marais flagship becomes a reproducible model for international expansion, and whether publishing partnerships translate into customer loyalty and incremental revenue. Those signals will show whether Études can become a durable expression of “new luxury”—a brand that operates at the intersection of art and commerce with both sensitivity and scale.

FAQ

Q: Who is Brice Groulier and what does he bring to Études Studio? A: Brice Groulier is the newly appointed CEO of Études Studio. He was previously chief financial officer at Jacquemus and earlier served as director of supply chain at Lemaire. His background combines financial discipline with operational and supply-chain experience, skills that will be applied to scale product categories, professionalize operations and execute a commercial growth plan while preserving the brand’s cultural identity.

Q: What is the core of Études Studio’s new strategy? A: The strategy centers on expanding accessories—particularly handbags—to about 50% of sales, reinforcing and broadening ready-to-wear with a focus on outerwear and leather, relocating the Marais store to a larger hybrid flagship with a bookstore and cultural programming, and growing publishing and institutional partnerships. The U.S. market is a priority for expansion, with wholesale-first distribution and DTC pop-ups planned.

Q: When will the first bag campaign and new flagship open? A: Études plans a bag-focused campaign to appear in fall 2026. The relocated Marais hybrid flagship, which will include a bookstore and cultural programming, is scheduled to open next January during Paris Men’s Fashion Week.

Q: How does publishing fit into the business plan? A: Publishing functions as a cultural asset. Études has published more than 30 books and is increasing visibility and investment in the publishing division. The brand aims to position itself as a “curator brand,” using books, collaborations with fairs and galleries, and partnerships with foundations to deepen cultural credibility and drive editorial content that supports product storytelling.

Q: Will the brand raise prices as product quality improves? A: The company states it does not plan to raise price points despite improvements in materials and construction. This suggests a pricing strategy focused on preserving accessibility while introducing higher-quality and possibly more premium signature items.

Q: How will Études enter the U.S. market? A: The U.S. strategy begins with strengthening wholesale partnerships to build distribution and recognition. A first New York pop-up is planned for late 2026 or early 2027 as a DTC test and brand-building event. Permanent brand-owned retail would likely follow based on performance.

Q: What operational challenges will the brand face scaling accessories and leather goods? A: Leather goods introduce new supply-chain demands: specialized suppliers, tanneries, hardware sourcing, and quality-control systems. Scaling requires vendor relationships that can deliver consistent craftsmanship, traceability and compliance, as well as management of cost and lead times.

Q: What are the main risks for this strategy? A: Key risks include brand dilution as the label grows, supply-chain bottlenecks for leather goods, margin pressure if quality rises without price adjustment, and dependence on wholesale channels for U.S. exposure. Mitigation requires careful product editing, phased production ramp-ups, selective retail partnerships and clear storytelling to maintain cultural authenticity.

Q: What milestones will indicate whether the plan is working? A: Important indicators include the share of revenue from accessories (movement toward ~50%), wholesale placements and sell-through in the U.S., sales performance of the Marais flagship and pop-up customer metrics, engagement with publishing and cultural programs, and margin trends in higher-quality product categories.

Q: What would success look like for Études Studio? A: Success would look like a recognizable bag silhouette in editorial and retail channels, a profitable hybrid flagship that sustains cultural programming, a growing U.S. presence through successful wholesale and pop-up initiatives, and a publishing program that cements the brand’s cultural authority while feeding customer engagement and sales.