Dec
 07
 2017



Christopher

Hello,

Here's a new edition of The Spin to get your Thursday off to a well-informed start. Today you'll read about a new influx of cash for Moda Operandi, parcel problems in the wake of record Cyber Week sales, an unexpected event in the UAE and the latest highly offensive fashion offering favored by Trump fans. Enjoy the read and as always, feel free to share it with your friends and associates. Best, Christopher



retail

Mo' money for Moda Operandi. In another indication that luxury online sites are immune to current retail woes and actually thriving (paywall) in in the changing environment, luxury e-tailer Moda Operandi has raised $165 million to spur its growth in the Middle East and Asia. The influx of cash comes from Hong Kong billionaire Adrian Cheng and Apax Digital, a new fund run by private equity firm Apax Partners, and increases the site's overall funding to $300 million in seven years. Online luxury sales grew by 24 percent in 2017 according to a recent study by Bain & Co.


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Monday blues. The massive $6.59 billion success of Cyber Monday this year is now being tarnished due to delivery delays caused by the high volume of orders. Courier UPS confirmed yesterday that it has been unable to keep up with schedule times in certain markets and that some packages will arrive up to two days late. While UPS has put workers on overtime to rectify the problem, it is the third year in a row it has been overwhelmed by Cyber Week sales and it is being criticized by labor unions for its unpreparedness.



Modified moniker. Wal-Mart Stores Inc. is changing its official name to reflect its new multichannel approach. As of February 1, 2018 it will drop the hyphen and the "Stores" and condense its first name to one word and therefore be known as Walmart Inc. "Most of us, and I'd guess all our customers, refer to our company as Walmart," explained CEO Doug McMillon.





markets

Dopest of Arabia. Although it sounds unlikely, Dubai has become a hotbed of streetwear thanks to Sole DXB, a three-day festival that returns to UAE city for the sixth time starting today. The event, which began as a small gathering of sneakerheads, still focuses on the latest and coolest street garb but now also includes live music, sports and art. Sole DXB drew about 16,500 people last year to Dubai, which has a growing number of streetwear/sneaker stores.



Prime time. To better compete with its rival Lazada, which is backed by fellow online giant Alibaba, Amazon launched its Prime service in Singapore yesterday. The subscription service offers free international shipping on orders over SG$40 and access to the Amazon Prime Video network. It will go head to head against Lazada's similar offering called LiveUp. However, the launch was met with confusion and frustration by many Singaporeans.



Denim's death rattle. Just weeks after Cone Denim announced that it would be ceasing denim production in the USA another American textile manufacturer has said it will stop making the blue fabric there as well. Georgia-based DNA Textile Group will shutter its Denim North America division by the end of next month to concentrate solely on the production of technical fabrics, thereby leaving a scant few options to source denim that is made in the USA.





brands

Karl comes home. Once again a runway nomad, Karl Lagerfeld showed the latest Chanel collection in his native Germany yesterday at the Elbphilharmonie, the home of the Hamburg Philharmonic. The sailor-inspired collection reflected Hamburg's history as a major European port and the show drew A-listers such as Tilda Swinton and Kristen Stewart.





tech

Mall monitor. US real estate and investment management firm Jones Lang Lasalle has developed and will soon start using Pinpoint, a new geofencing tool to track shoppers in malls. The tool will divulge where shoppers come from, how long they stay and what stores they visit in real-time, which should help malls and their tenants fight the ever growing decline in foot traffic.





last

Press protection. A T-shirt made by a third-party vendor that reads "Rope. Tree. Journalist. SOME ASSEMBLY REQUIRED."was immediately removed from Walmart website after the journalist advocacy group Radio Television Digital News Association (RTDNA) informed the retailer about it and said that it could incite violence against reporters. A shirt with the same phrase was seen at a Trump rally during the presidential campaign.







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