Nov
 17
 2017



Christopher

Hello,

Aren't you glad it's Friday? This final edition of The Spin for the week has lots of news, including stories about Calvin Klein's controversial decision to give Amazon exclusive merchandise, important retail IPOs and several new executive appointments (and a new side gig for Marc Jacobs). Enjoy the read and have a wonderful weekend. Best, Christopher



retail

Exclusive undies. In a slap in the face to its traditional department-store base, Calvin Klein is selling its new underwear and jeans styles exclusively with Amazon. The arrangement, which launched yesterday online and via two physical holiday pop-ups (one each in New York and Los Angeles) that will be open until the end of the year, is the first time Calvin Klein has offered Amazon first dibs on its products. The fact that department stores won't have access to the items until after the new year could send "shock waves down" the industry says one retail analyst.


Advertisement
ANZEIGE



Downsized IPO. Online subscription-box retailer Stitch Fix (paywall) will officially go public today and start trading on the NASQAQ with an initial public offering of $15 per share, a price that is significantly lower than the previously expected $18 to $20. In addition, it is selling 8 million shares instead of 10 million. The trimmed down IPO, which probably shrank as a result of poor performances by other recently listed e-commerce companies, is expected to raise $120 million.


Advertisement
ANZEIGE



Farfetch figures. Another online retailer that is said to be pursuing an IPO, Farfetch, has released highly impressive sales numbers. Revenue at the London-based luxury e-tailer jumped a whopping 74 percent to £151.3 million in 2016 and the total value of all the merchandise it sold rose 81 percent to £547.9 million. However, losses were also up 18 percent to £34 million due to deep investments in staff and technology.



Beleaguered Bon-Ton. Struggling US department-store company Bon-Ton Stores Inc announced yesterday that it will close at least 40 stores, or about one-sixth of its properties, in 2018. However, it did not reveal which ones it will place on the chopping block. The company's Q3 same-store sales decreased 6.6 percent year-over-year.





markets

VAT refund lands in Russia. Russian retailers are welcoming (paywall) this week's passage of law by the Duma that will allow foreigners to get a value-added tax refund on purchases made in the Russian Federation. Major player Tsum says that the change could potentially help double its turnover in the next three years.





people

Lululemon's creative creative director. Athleisure giant Lululemon has hired (paywall) Rémi Paringaux, a veteran magazine art director of titles such as Dazed & Confused and Garage, to be its newly created brand creative director. The news comes just a week after the company, which also launched its first sneaker collaboration yesterday, announced (press release) that its EVP and creative director Lee Holman would be stepping down at the end of the year.



Edios gets Spurr. Heralded menswear designer Simon Spurr is the newly named creative director of Eidos, a division of luxury menswear company Isaia Corp. Spurr has designed for his now shuttered eponymous line and also worked at Saint Laurent, Ralph Lauren Purple Label and Ralph Lauren Black Label. He also recently launched (paywall) a DTC online-only line of men's and women's luxury footwear called March NYC.



From toys to shoes. Footwear brand Skechers has named John Vandemore, a former VP and CFO at Mattel Inc and a 12-year veteran of The Walt Disney Company, as its new CFO. David Weinberg, who has been with the Skechers since it began in 1992, has served as COO and CFO since 2006. He will now hold the former title only.



Professor Jacobs. Marc Jacobs has been tapped to teach a 15-session online class in fashion design for digital education company MasterClass. The online course includes a downloadable class workbook and will cost students $90. Pre-enrollment is currently open.





brands

Reading, eating and offending. Dolce & Gabbana have had a busy month. Their new coffee table book that celebrates Millennials and says that this generation is behind a "new renaissance" was published by Rizzoli on Tuesday and they have just launched a line of €99 pasta after revealing their decorative takeover of Harrods for the Christmas season on November 2 with an elaborate in-store fashion show. But now Stefano Gabbana is again getting flack and raising eyebrows for speaking his mind. In a new interview with British Vogue he calls sexual harassment "not violence."





last

Elaborate ears. Numerous designer names from Gucci and Prada to Burberry have designed high-end Pudsey Bear ears for the annual Children in Need charity drive sponsored by the BBC. Based on the ears of the charity's teddy bear mascot, the creations were modeled by celebrities and are being auctioned on eBay through Sunday where they have already generated massive bids.







logo-small   

is a product
delivered to you by
textilwirtschaft.de | Imprint