Feb
 02
 2018



Christopher

Hello,

Welcome to this Friday edition of The Spin. Today we're discussing Amazon's best ever quarterly numbers, Macy's new modest fashion line, yet another claim of sexual impropriety by a fashion bigwig and the latest misstep when it comes to cultural appropriation. Enjoy the read, pass it on and have a terrific weekend! Best, Christopher



retail

Affluent Amazon. Amazon, the world's largest online retailer, reported its most profitable quarter ever yesterday saying its net income for Q4, which ended December 31, more than doubled to $1.86 billion. Spurred by growth of its Prime quick-delivery service and the recently passed Republican tax law that added $789 million to its coffers, the behemoth said that sales rose by 38 percent to $60.5 billion in the period. Its net income for the full year was a whopping $3 billion.


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Modest Macy's. US department store Macy's is courting the Muslim market with a new collaboration with Islamic boutique Verona Collection that will launch on the Macy's website on February 15. The new modest women's line will include hijabs (headscarves) and abayas (loose cloaks) as well as tops, pants and dresses. Estimates say that Muslim consumers will spend $464 billion on fashion by 2019.


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people

More #MeToo. Guess brand co-founder Paul Marciano is the latest famous name to be accused of sexual harassment. On Wednesday model, actress and former face of the brand Kate Upton called him out on Twitter writing: "It’s disappointing that such an iconic women’s brand @GUESS is still empowering Paul Marciano as their creative director. #metoo." While Marciano denied her claims citing bad blood between the two, stock in the company fell 18 percent yesterday, its worst performance in six years.



Lost at sea. French authorities have called off the search for Pierre Agnes, CEO of Quicksilver's parent company Boardriders, after he went missing and his boat washed ashore in southwest France near Biarritz on Tuesday. The 54-year-old executive last messaged authorities that he was stuck in a thick fog on his return home from a fishing trip. He is now presumed to be dead.



Marking down Marc. John Targon, co-founder and creative director of Baja East, has been named to the newly created position of Creative Director of Contemporary at Marc Jacobs. He is expected to steer the LVMH-owned brand back into a lower price point after it shuttered its diffusion line Marc by Marc Jacobs in 2015.





markets

Skirt slip-up. Zara is the latest fashion brand to make the mistake of cultural appropriation. The giant fast-fashion chain has received flack on social media for offering a checked brown skirt for $90 that resembles the traditional lungi skirts worn by men and women in southern parts of India and Asia. Aside from the item's highly inflated price compared to genuine models, people are aghast the the retailer did not cite the inspiration for the design.



Malcolm X collection. Harlem Fashion Week, which is actually a one-day event happening on Sunday, will feature the launch of the Malcolm X Legacy Collection, a line created by the six daughters of the late and controversial civil rights leader. It includes sweatshirts, hats and tees with slogans/quotations inspired by his 12 principles such as "By Any Means Necessary" and "A Man Who Stands for Nothing Will Fall for Anything."





brands

Yes to Yeezy. The latest marketing campaign by Kayne West for his Yeezy brand has garnered unexpected raves (paywall) from The New York Times' fashion critic Vanessa Friedman. The series of Instagram photos, which were released earlier in the week, re-create the images of West's wife Kim Kardashian West wearing the collection's season 6 clothes that went out months ago. However this time, the round two shots feature such people as Paris Hilton and Sami Miro in blonde wigs looking exactly like Kim.







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