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 May
 12
 2017



Ulrike

Hello,

As the fashion market is evolving at a head-spinning pace, we are working tirelessly to keep you informed about the latest global developments in this ever-changing industry. Today, the retail sector dominates the news cycle with both good and bad tidings from established bigwigs and an online up-and-comer. And it seems that the powerhouse that is LVMH is set to dip its luxurious toes back into online selling....



retail

Abercrombie & Fitch is reportedly for sale. Reuters reported on Wednesday that American young casual retailer Abercrombie & Fitch is now seeking suitors for a possible acquisition . The chain has been struggling in recent years and has now reached a 17-year low in value. With a 2016 operating income of $15.2 million compared to $72.8 million the year before, the company is relying heavily on discounting , a move that some say is only adding to its continued tarnishment in the eyes of consumers. Fellow fashion bigwigs Lululemon Athletica and Deckers Outdoor Group are also rumored as soon-to-be M&A targets .


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Australia's Myer continues to see weakening results. Aussie department-store chain Myer reflected the continuing worldwide woe of flagging sales in brick-and-mortar sites in the quarterly report it issued today . Its sales were down more than $20 million to $653 million, or a 1.3 percent drop compared to the same quarter last year, and its stock has dropped 17 percent in the last month. The once super-hot womenswear brand sass & bide, which it acquired six years ago, also continued to decline in value. Other major retailers, including Nordstrom and J.C. Penney, will provide a better look of the overall retail picture when they post their first-quarter results later this week.


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Matchesfashion to open second town house concept. London-based retailer Matchesfashion will open its second "town house" in Mayfair soon. Located in a residential building, the space will be used for appointment-only customer consultations and VIP events and join the first one and five physical stores the company operates in the British capital.


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Online stylist Stitch Fix nears value of $1 billion. Started in 2011, Stitch Fix, a U.S. online retailer that sends customers five items based on their "style profile," has emerged as an unlikely winner. It shared its numbers online this week , which revealed that it earned $730 million in revenue in 2016. Its unusual, impressive performance makes it ripe for an IPO report sources.


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Forever 21 charged with knocking off indie designer. American young fast-fashion chain Forever 21 has been sued by LA-based women's clothing and accessories brand Valfré for stealing its original designs for a rainbow phone case. It is not the first time the chain has been accused of creative theft. In April Puma sued it for stealing looks from its Fenty x Rihanna shoes


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tech

LVMH will launch digital shopping platform. Luxury conglomerate LVMH has announced that it will unveil 24 Sevres , a digital and online website and app, in the next few weeks. It will feature more than 150 luxury labels and the first time LVMH has been in commerce since dropping out of the site Luxury.com six years ago.


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brands

Adidas unloads golf division. Athletic powerhouse Adidas has sold its golf arm , which includes the brands TaylorMade, Adams Golf and Ashworth, to KPS Capital Partners for $425 million. It may just be the start of an anti-golf business trend as Nike announced in August that it was also exiting the category,







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