May
 19
 2017



Ulrike

Hello,

Happy Friday and welcome back to The Spin. Today, we're exploring the latest financials from Burberry, interesting and unusual goings-on at Arab Fashion Week in Dubai, how fashion brands are using hackathons late in the game and the strange, sudden power of romper suits for guys. Enjoy the read – and the weekend!



brands

Burberry profits fall 21% in fiscal 2017. British luxury label Burberry has released its initial fiscal results for 2017 and reported a 21% drop in pretax profit due primarily to a diminishing demand for its products in the USA. Current CEO and creative head Christopher Bailey described 2017 as "a year of transition" in "a fast changing luxury market" and the company reported adjusted pretax profit of £462 million with strong sales in its native UK, which may actually be driven by Chinese visitors. The company's new CEO, Marco Gobbetti, will take the reins in July while Bailey will remain head of creative.


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markets

Arab Fashion Week spotlights international designers, diversity in a growing fashion market. Currently taking place in Dubai, the latest edition of the biannual Arab Fashion Week opened earlier this week with shows by some unlikely contributors: Canadian Rad Hourani , who is famous for his unisex looks, Arkansas-based designer Jenanne Filat and her menswear line Baraka Bespoke , and Marchesa by Georgina Chapman and Keren Craig. Their participation shows the growing potential of the Muslim market for fashion brands, which by 2019 is estimated to spend $327 billion on clothes – greater than the UK, Germany and India combined. Arab Fashion Week will also feature a show by American Wardrobe called The International Dwarf Fashion Show featuring models with dwarfism (it began in Paris in 2014) thereby furthering the trend for fashion runways and models to reflect people all all shapes and sizes and from all walks of life.


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American fashion-trade groups support Trump's new Trade Representative. Robert Lighthizer, who was sworn in at The White House as the new US Trade Representative on Monday and is the final member to be confirmed for President Trump's cabinet, has been publicly lauded by several US fashion trade organizations including the American Apparel & Footwear Association, the Retail Industry Leaders Association and the National Council of Textile Organizations, who are hopeful that his forthcoming meetings and negotiations with the Asia-Pacific Economic Cooperation and the North American Free Trade Agreement, or NAFTA, will prevent foreign market price distortions, create new growth in global ones for US manufacturers and that the latter agreement would be saved despite Trump's hatred of it.



Israeli minister's Jerusalem gown sparks controversy at Cannes. The sartorial choice of Israel's Culture and Sports Minister Miri Regev received both cheers and jeers when she appeared on the red carpet at the Cannes Film Festival in a gown that showed the skyline of Jerusalem, the capital of Israel that Palestinians still lay claim to. Designed by Avian Arik Herman, the dress was later Photoshopped by some to instead show the separation wall that divides Jerusalem from the West Bank or bombs exploding in Palestine. But it's not the first time that fashion has helped make a political statement at the festival.





tech

Fashion brands turn to hackathons to find digital talent. According to a story on glossy.co, fashion companies are increasingly turning to hackathons or codefests – hours- or even days-long cramming sessions of those in the digital field – that serve as problem solvers and prototype development sessions. However, digital experts say that many fashion companies are reluctant to explore new business solutions via technology as was noted at the first Facebook Luxury Forum held earlier this week.





retail

Bergdorf Goodman continues to find success with niche designer collabs. New York department store Bergdorf Goodman is continuing to embrace a more modern image – and be successful doing so – with an ongoing series of collaborations and in-store shops with streetwear labels such as Kith and John Elliott. The second drop by Kith will arrive in-store in a now permanent space today and features a hoodie, T-shirt and hat designed by Kith founder Ronnie Fieg, an icon in sneaker circles. Competitor Barneys New York has taken a similar approach, especially with its BNY Sole Series of exclusive footwear by names big and small.





last

The RompHim sets Internet ablaze with criticism but already far exceeds fundraising goal. Debuting this past Monday on Kickstarter, The RompHim a printed or pastel onesie for guys created by ACED Design of Chicago, almost immediately "broke the Internet" and four days later, continues to be the hot topic of fashion critiques online, in traditional media outlets such as CNN and in viral memes across social media. However, in another example of "there is no such thing as bad publicity," the often reviled garment had far surpassed its Kickstarter funding goal of $10,000 and had pulled in nearly $279,500 by midnight on Friday, proving that this crowdfunding site is still a good one for fashion startups. Now Reebok has also launched The ReeRomp , a one-piece men's athletic training suit. So while these guys' rompers are in fact legless perhaps they do have some fashion legs after all....







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