Oct
 19
 2017



Ulrike

Hello,

Happy Thursday and welcome back to The Spin! Today we check out why, for the time being, German Galeria Kaufhof has to remain without CEO. We also tell you who is going to share spaces with Macy’s in Seattle and Chicago, and how Amazon is going to manage the last inch of its logistics chain. Enjoy the read and have a great day, Ulrike



retail

Headless. For now, German department store chain Galeria Kaufhof will remain without CEO. The board of the Cologne-based retailer, which is part of Canadian Hudon's Bay Company (HBC), was scheduled to fill the position on Wednesday, but unresolved issues and discussions with unions foiled (in German) the process. As planned, HBC Europe CEO Wolfgang Link, was voted on the board. He succeeds Don Watros, who moves (press release) to the slip resistant footwear specialist Shoes for Crews as President and CEO. Link had been interim CEO at Kaufhof since May.


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Moving in with Macy's. In an ironic move, embattled US department store operator Macy's Inc has leased (paywall) the top six floors of its building in downtown Seattle to online giant and rival Amazon. Over in Chicago, the top seven floors of the 14-floor Macy's flagship store have just been sold to Canadian real estate investment company Brookfield Asset Management. Macy's will retain the lower half for its department store and restaurant.





tech

Last millimeter. To take control of the last mile of its logistics chain, Amazon has teamed up (paywall) with large US landlords to install storage lockers in residential dwellings. Buildings will have a one-time cost between $10.000 and $20.000, but might ask usage fees from their tenants. Lockers will accept packages from both Amazon and other vendors and should be accessible day and night. Amazon Hub currently covers a total of 850,000 apartments and is scheduled to get under way before the holiday season kicks off.



New weave. Stella McCartney wants to foster real change in the highly polluting (trailer) fashion industry. Having banned fur, leather and feathers from her collection for years, she now also collaborates with an innovative fiber startup. California-based Bolt Threads is specialized in Engineered Silk fibers, which are bio-engineered from yeast-based proteins and mimic real silk.



No more weaves. Denimheads around the world are heartbroken to hear that after more than 110 years of continuous production Cone Denim White Oak mill in Greensboro will be ceasing operations. According to a press release from the City of Greensboro International Textile Group will close the plant before the end of the year.





brands

Soft growth. US lingerie and casualwear specialist Hanesbrands has bought Alternative Apparel for $60 million in cash. The Winston-Salem, Pennsylvania-based company, which just released preliminary Q3 results in line with expectations, expects the acquisition to support its activewear growth strategy. Alternative Apparel is specialized in relaxed casual wear with a soft hand and lived-in character, and should generate about $70 million in 2017.



Luxe leisure. Rapper P. Diddy's fashion label Sean John, which was bought by Global Brands in 2016, plans to expand internationally next year. To broaden (paywall) the product range into luxury athleisure, the company has re-hired its original designer Scott Langton, who's since been working for companies like Punk Royal, Phat Farm and Ecko Unltd. In the US, Sean John is exclusively distributed by Macy's.



Mr & Mrs China. Chinese private investment company Hony Capital is acquiring a 30 percent stake in Duemmei Spa, the holding of Italian luxury outdoor label Mr & Mrs Italy. Founded (in Italian) in 2007, Mr & Mrs Italy is known for its iconic hand-made fur-lined luxury parkas, which retail in the US for $2,000 to $7,000 and up.





markets

Past the age of innocence. Back in July, Man Repeller coined the unsexy word menocore. Composed of menopause and normcore, the term stands for comfortable clothing "somewhat resembling the outfit of a retired masseuse". But for young women, these easy looks represent not just comfortable casualwear, but also the status symbols of middle age: a house, money and sufficient vacation time.





last

Model movies. This winter, Karlie Kloss gets to host her own TV show. During the six part talk series Movie Night with Karlie the super model is going to watch movies and chat with fellow models like Kendall Jenner and Ashley Graham as well as actors and magicians. The first show is going to air on December 28th.







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