Apr
 04
 2018



Ulrike

Hello,

Happy Wednesday and welcome back to The Spin! Today we examine Trump’s new tariff targets, and check out why Amazon might have trouble reaching its goal of global fashion domination. We also tell you, which bankrupt US retailer might have found a buyer, and how a sick new fashion trend addresses mental health issues in Japan. Enjoy the read and feel free to share! Best, Ulrike



markets

Trade tension. US President Donald Trump has released a preliminary list of 1,300 Chinese goods subject to new tariffs, re-escalating fears of a trade war. Targeted industries include aerospace, technology, machinery and medical equipment. The National Retail Federation (NRF) is pleased that apparel and shoes are not listed, but criticizes the process and urges (press release) the administration to work with China to find solutions.





retail

Stony path. The sheer scale of Amazon might be (paywall) a hindrance to its development of credible fashion labels. In addition, the online giant's promise of low prices and convenience is not flying with Generation Z, which is not as pressed for time and money as Millennials - and prefers trendy styles to private-label product. Either way, Amazon's path to its planned fashion dominance remains stony.



Bon buy. US mall operators Namdar Realty Group and Washington Prime Group are said to be in talks to acquire US department store chain Bon-Ton Stores out of bankruptcy. The Pennsylvania-based retailer filed for Chapter 11 bankruptcy protection in February. The deadline for bids has been extended until today, and the auction is set for April 9.



Shoe York, Shoe York! Following in the footsteps of Saks Fifth Avenue, Macy's and Selfridges, Bloomingdale's has revamped the shoe department at its New York flagship store. Featuring more than 100 brands and nine designer boutiques on over 26,000 sq. ft., the new "The Heart of Shoe York" department provides (paywall) repair services for shoes and handbags as well as plenty of seating. It will open this Thursday.





tech

Banking on the unbanked. To allow customers without a bank account to transfer money globally, Walmart has launched Walmart2World (press release). The platform was developed with MoneyGram International and services more than 200 countries. It is an international extension of the domestic Walmart2Walmart, which was launched in 2014 and permits customers to transfer up to $2,500 between US Walmart locations.





people

Changing the board. German premium casualwear brand Marc O'Polo has named (paywall; in German) Susanne Schwenger CPO. Bernd Keller who held this position prior to Schwenger will leave the company and wants to establish himself as a consultant on sustainability issues for the premium and luxury sector. Susanne Schwenger comes from German fashion giant S.Oliver and is well-known at the Stephanskirchen-based brand: From 2002 to 2015 she held the position of Creative Director Marc O'Polo Womenwear.



From liquor to luxury. Neiman Marcus has named Adam Orvos CFO, effective April 25. At that time, Dale Stapleton, who served as interim CFO since May 2017, will return to his position as Senior Vice President and Chief Accounting Officer. Orvos, who held CFO positions at May Department Stores and Belk in the past, most recently served as CEO at the liquor superstore, Total Wine & More.





markets

Revving up resale. Thanks in part to the sustainability-mindedness of Millennials, the market for second-hand apparel is expected to overtake the fast fashion market in ten years. According to the resale platform Thredup, the entire resale market will be worth about $41 billion by 2022, with 49 percent contributed by apparel. Next to Threadup, the largest online players in the segment are The Realreal and Postmark.





last

Cry for love. The Yami Kawaii subculture highlights (paywall) mental health issues in Japan, where about one in four people considers suicide. Loosely translating into "sick-cute", Yami Kawaii (video) plays with elements of disease and depression. Using fake blood, band-aids and syringes as well as morbid slogans, Japanese youngsters visualize the strong tension between their inner and outer worlds, and this cry for attention is catching on. At Jenny Fang's Fall 2018 show, some models seemed to have missing limbs, while Gucci sent decapitated heads down the runway…







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