Nov
 22
 2017



Christopher

Hello,

Welcome to this Wednesday edition of The Spin. Today we're bringing you more retail results from the US, discussing one of the year's biggest limited-edition launches and seeing how a decidedly unfashionable president is influencing womenswear trends. Enjoy the read and the rest of your week. (In honor of Thanksgiving and Black Friday The Spin will not be published tomorrow and Friday but will return on Cyber Monday with a new edition.) Best, Christopher



retail

Neiman's nice marks. Luxury department store Neiman Marcus Group finally ended its losing streak yesterday and posted its first increase in quarterly same-store sales since August 2015, a rise of 4.2 percent. The company said the jump resulted from its "Digital First" initiative which stresses omnichannel selling and the implementation of new technologies.



J.Crew's blues. There was more bad news from American retailer J.Crew yesterday when it released its Q3 results. Same-store sales of its eponymous brand were down 12 percent and the company announced that it would shutter 50 doors this year, 20 more than it predicted in August. Sales at Madewell stores actually rose 13 percent but their footprint is too small to counter the group's overall drop of 9 percent. The total net loss for the period was $17.6 million.


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brands

Pumped up kicks. One of the year's most highly anticipated limited-edition fashion collaborations, the Chanel x Pharrell x Adidas NMD Hu sneaker, officially launched at a star-filled party (paywall) at Colette in Paris yesterday. Priced at €1,000 and limited to 500 pairs, the red-hot shoes are being made available via an online lottery that drew 120,000 entrants. The shoe's resale value is already €32,000 and could rise as high as €40,000. Justin Timberlake was the lucky person to buy the first pair.


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markets

Asian artistry. Speaking of expensive shoes, the traditionally European art of creating bespoke footwear is a growing business in Japan. Local manufacturing of high-end shoes there has expanded dramatically in the last 20 years or so to include about 100 bespoke manufacturers nationwide and at least 40 in Tokyo alone, which puts the country on par with Europe.



Ethiopia is the new China. Ethiopia is making headway in its quest to become a major global manufacturer of apparel and textiles as prices rise in China. Major players such as Gap and H&M have started producing there and PVH and others are building their own factories. In all, foreign investment in Ethiopia's textile industry has skyrocketed from about $166.5 million in 2013-14 to $1.35 billion this year. However, this African nation has a long way to go: its textile exports pale compared to China's and it still must overcome transportation and domestic cotton-growing problems.



Trumpian trends. A new study by Danish futurist and trend analyst Lidewij Edelkoort recently cited by Vero Moda's trend and color analyst Annika Moller Henry has named a highly unusual suspect as a "fashion influencer": Donald Trump. They say his ascension led to a recharged women's movement which in turn caused designers to create key looks based on "women's revolution" from 1980s-inspired "power" pantsuits to hippie-like styles. They also claim that the women's marches are the reason that pink has emerged as a top trendy fashion hue.





tech

Musk makes must-haves. Magnate and inventor Elon Musk has raised $300,000 towards his new high-tech tunnel digging venture The Boring Company through the sale of logo baseball caps. Through this so-called IHO, or "Initial Hat Offering," the Tesla CEO has sold 15,000 of the caps at $20 a pop since they were made available in October. He calls the item "the world's most boring hat."





last

Song surge. Breakout 25-year-old rap star Cardi B has caused a huge spike – 217 percent – in online searches for Christian Louboutin shoes after mentioning her favorite red-bottomed brand in her hit song "Bodak Yellow." While the designer dismissed her influence in a recent interview (paywall), others are referring to the increased hype about the brand as "the Cardi B effect."







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