Oct
 20
 2017



Christopher

Happy Friday, ,

This final edition of The Spin for the week is extra heavy with news from the retail sector including Stitch Fix's just announced IPO, Target's reinvention plans and the odd but actually quite logical pairing up of Walmart and Lord & Taylor. And in another weird teaming, Anna is apparently going hipster as Vogue and Vice announce a forthcoming collaboration. Enjoy the read, feel free to share it with colleagues and friends and most importantly, have a lovely weekend! Best, Christopher



retail

Fixing to go public. Stitch Fix, the six-year-old San Francisco-based online online retailer/stylist service, filed for an initial public offering yesterday. A mega-successful startup, it brought in $977.1 million in sales for fiscal 2017, which is more than double the number from just two years ago. However, this growth is actually a slowdown compared to prior years. Stitch Fix filed to raise $100 million for the IPO and has an estimated valuation of $3 billion to $4 billion.


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Allied against Amazon. The Wall Street Journal reports (paywall) that Walmart is on the brink of finalizing a deal with Hudson's Bay Co.'s department store Lord & Taylor that will give the latter dedicated sales space on the former's online shop. It is said to be Walmart's first step in creating a so-called "online mall" from its site, which is expected to eventually include its recently acquired brands Bonobos and Jet.com as well and is clearly a reaction to the product diversity offered on Amazon.



Targeting midtown Manhattan. The first Target store in midtown Manhattan is opening today across the street from Macy's flagship in Herald Square. The 43,000-sq.-foot store is the retail giant's 55th with a small format concept. It will be increasing these shrunken shops to 130 by 2019 as they generate nearly twice as many sales per square foot as Target's traditional big boxes. The retailer's additional overhaul plans to win against competitors such as Amazon and Walmart include major store renovations.



H&M under fire. H&M has officially denied (company statement) recent allegations made by Danish television program "Operation X" (in Danish) that it has incinerated approximately 60 tons of new unsold garments in the last four years. The show's investigative report (paywall) claims that H&M, which has been very vocal about following sustainable practices after the press revealed it cut up and threw away unsold clothing in 2010, has been sending unsold clothing to a Danish waste disposal company for burning.





brands

Aldo scrubs acquisition. Footwear giant The Aldo Group will not be buying fellow footwear maker Camuto Group's footwear and accessories arms after all. Although the two announced in August that they would be merging for an undisclosed amount, they now say that they have mutually agreed to scrap (paywall) that plan but will continue to work together independently as key strategic partners.



Boxed bodywear. Famed fitness outfitter Under Armour has launched its first boxed subscription service, Armour Box, which sends customers items selected by a real-life stylist based on criteria such as the customer's gender, fitness goals, favorite workout activities, etc. Unlike many similar services, ArmourBox has no membership, styling, shipping or return fees.





markets

Local love in China. The most recent edition of Shanghai Fashion Week, which concluded on Wednesday, stressed homegrown talent over foreign labels more than ever, reflecting that country's growing willingness to embrace outstanding domestic designers over imported ones. Key trends spotted on the catwalks there included androgyny, futuristic sport, rich fabrics and feminine frills.





last

Opposites attract. In what has to be one of the most unexpected brand collaborations in recent memory, media outlets Vogue and Vice will work together starting early next year on a new website called "Project Vs" which will feature video and written reportage from both titles about people and issues currently affecting society. A video starring Anna Wintour and Vice's Tom Punch announcing the unusual union launched yesterday on vogue.com.







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