Dec
 12
 2017



Caroline

Hello,

Good Tuesday and welcome back to a new edition of The Spin. Today we are reflecting on GGP's refusal of Brookfield Property's $15 billion bid...but long term negotiations could still close the deal. We are also looking at London's enduring appeal. Two European creators expand their presence in the most desirable streets of the British capital. Finally, we examine upcoming Fashion Weeks' calendars with cult brand Vetements in Paris and Gucci in the suburbs of Arles. Enjoy the preview. Cheers, Caroline.



markets

Still talking. Chicago based GGP, proprietor of 125 high end retail centers, has rejected Brookfield Property Partners' $14.8 billion initial public offering but the talks remain active. Negotiations could last several months and Brookfield, already a 34% shareholder of GGP, could end up acquiring the remaining stock that it doesn't already own. The buyer is a subsidiary of Brookfield Asset in Toronto. Its portfolio includes London's Canary Wharf and New York's Brookfield Place.


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Risky rating. The British House of Fraser has been branded a "very high credit risk" by Moody's the ratings agency. The department store group owned by China's Sanpower has had 3 weak consecutive quarters. The retailer is in a fragile position after the failed (paywall) upgrade of its ecommerce platform in April. Several brands suffered a drop in sales. The Scottish originated House of Fraser has 60 stores in England and Ireland as well.





retail

London calling... Spanish brand Loewe is expanding (paywall) in England. The London store will move into a larger 500 square metre space on Bond Street come September 2018. It is also increasing its presence among department stores. Loewe plans to quadruple its footprint at Harrod's Department Store. Jonathan Anderson, the creator of the brand, adores London and the sentiment is mutual. He just became British designer of the year for his eponymous line of women's wear and for Loewe accessories.



...twice. Italian Fendi is likewise unveiling (paywall) a new 2 story boutique on Sloane Street in London. The store, designed by Dimore Studio has the look and feel of a residential apartment. Accessories and bags occupy the first level, women's wear and men's wear are on the second level. This new Fendi store is part of the 5 year plan designed by CEO Pietro Beccari to enhance the appeal of the brand.



Seoul experiment. To counteract declining traffic in department stores, Louis Vuitton is trying a new strategy in Seoul (South Korea). The luxury brand is separating women's and men's departments to give potential male customers a unique and personal experience. It's happening at Shinsegae Department Store and at Galleria Department Store. That new focus is too recent to judge its success but hope springs eternal. After Shinsegae's Gangnam branch refreshed its men's salon, sales had doubled.





brands

Back to Paris. Vetements is back with its road show. Demna Gvasalia, the founder of the cult brand, will present his fall 2018 coed show during Paris Men's Fashion Week, on January 19. The creator, always eager to disrupt tradition, had decided last season to skip the runway in favor of simple showroom appointments. Demna Gvasalia, who is also artistic director at Balenciaga, likes to challenge the vogues of fashion with his choice of venues and models. This time, men and women will share the stage.



Buongiorno Arles. Next time it will be Arles in France. Alessandro Michele, the creative director of Gucci has decided to stage his upcoming cruise show on May 30 in the Provencal city of Arles, precisely at the Alyscamps, home to a Roman Necropolis. The designer, an avid student of history, already showed his cruise collection in Westminster Abbey (London) and the Palazzo Pitti (Florence). Other brand creators also like to travel the world. Louis Vuitton tried Kyoto and Dior went to Calabasas.





people

Mourning Otto Kern. German designer and fashion entrepreneuer Otto Kern is dead (in German). The "King of Shirts" died at the age of 67 in Monaco. Since 2000 the Otto Kern brand belongs to Herford-based menswear company Ahlers AG which is also a big licensee of the Pierre Cardin brand.





tech

Try it. The new app Try.com downloadable from the Apple store lets customers try on clothing from online retailers. Here is how it works: the customer pays an annual fee of $49, thereafter can select a maximum of 5 items from the online store using the Try check out button. The start-up is linked to major credit card networks and they will not charge anything for the first 7 days, enough time to check the outfits at home and return what's not desired. Amazon is doing the same thing with its Prime Wardrobe formula.







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