Nov
 08
 2017



Christopher

Hello,

Welcome to this Hump Day edition of The Spin. It's been a headline-making couple of hours for companies and names thanks to a bailout, legal battles, (another) retail bankruptcy plus the release of corporate financial numbers. At the same time, fashion continues to embrace the diversity trend full-on. Enjoy the read and feel free to share. Best, Christopher



brands

Life preserver for Lanvin. Although luxury house Lanvin posted a €18.3 million loss last year and rumors have flown that it might even shutter, its owner, Taiwanese mogul Shaw-Lan Wang, has committed to a new injection of cash (paywall) by the end of the year. The company is also planning to makeover the label with new product categories and other initiatives.


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Knock it off, Marc. A trio of independent accessories brands – Laser Kitten LLC, Katie Thierjung and Wildflower + Co., Inc. – filed a copyright infringement lawsuit in federal court yesterday against Marc Jacobs claiming that the brand copied their original pin and patch designs for its Resort 2017 collection. After their January cease and desist letter was ignored, the three now want damages of $25,000 per violation. Oddly enough, the situation appears to be something of a carbon copy of one last year when artist Tuesday Bassen and others accused Zara of stealing their pin creations.


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Update: Gucci vs. Forever 21. In other fashion-based lawsuit news, Gucci scored a victory on Monday in its ongoing legal battle with Forever 21 over the use of stripes when a California court dismissed the latter's complaint saying that Gucci's trademarks of the stripes should be invalidated. However, Forever 21 can refile an amended complaint by November 17.





retail

Zalando's mixed results. Weak sales in October due to warm weather caused Zalando to lower its 2017 profit guidance but its other numbers continue to be extremely impressive. The German online giant still expects its full-year revenue growth to be around 25 percent, its third-quarter sales were up 29 percent to €1.075 billion and it added one million new customers in the quarter.



Styles files. Here we go again: US teen retailer Styles for Less has filed for Chapter 11 bankruptcy protection in California. The struggling mall-based chain, which currently operates 93 stores after closing 55 others, cited both its assets and liabilities in the $10 million to $50 million range. Consulting firm AlixPartners is now predicting that 2017 may bring more than 20 retail bankruptcies, which would surpass the number filed during the crisis of 2008.





people

Telfar triumphs. Telfar Clemons, founder of the 12-year-old unisex brand Telfar, won the $400,000 first place prize at the CFDA/Vogue Fashion Fund ceremony in Brooklyn on Monday night, an event that stressed diversity and inclusivity (paywall) in fashion in both its speeches and choice of winners. The two runners-up, who were awarded $150,000 each, were Ahlem Manai-Platt for her optical range Ahlem Eyewear and Becca McCharen-Tran for her apparel brand Chroma, a label known for its democratic sizing.



Enninful's first edition. Speaking of Vogue and diversity, the first issue of British Vogue produced under new editor Edward Enninful is being released this week and this already praised December edition is a clear reflection of his commitment to make the publication more diverse. The cover stars mixed race model Adwoa Aboah while the inside features an interview with Enninful and Aboah discussing what it means to be black and British today.



Farewell, finance director. UK news outlets are reporting that Helen Weir, the finance director of Marks & Spencer since 2015, will be leaving the company as early as next year and that M&S has hired headhunters to find her replacement. The retailer may formally announce her departure today when it releases its half-year numbers, which are expected to show declines in both profit and like-for-like sales.







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