Apr
 23
 2018



Caroline

Hello,

Welcome to a new edition of The Spin. Today we look at the executive shift at Ferragamo and Macerich, new leadership means change. We also welcome back the American Apparel online store in England and while we pay attention to all things American, we stop at the Coachella festival to savor Beyoncé's fashion moment. Enjoy the read, Caroline.



people

Three as one. Ferruccio Ferragamo, the executive chairman of luxury brand Salvatore Ferragamo just appointed (paywall) Gucci veteran Micaela Le Divilec as general director. She will be part of a triumvirate with Ferruccio's son James and finance chief Ugo Giorcelli in charge of strategy. Ferruccio Ferragamo wants to take his time to recruit the future CEO of the company after the departure in March of Eraldo Poletto. The Florence based family business is battling falling sales and profitability.


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Out at the top. Macerich CEO, Art Coppola is set to retire at the end of the year, after 25 years at the helm of the shopping mall giant. Art Coppola, 65 years, supervises 48 properties in America, among them Santa Monica Place. His departure, encouraged by 2 activist hedge funds investors, could signal future merger and acquisitions. Malls facing traffic slowdown are regrouping to resist the Amazon tsunami. Last month Brookfield Asset Management announced the acquisition of GGP.





retail

Back to the basics. American Apparel is back in Europe. The Canadian company, Gildan Activewear, which bought the brand out of bankruptcy 2 years ago, is opening a digital store in England on April 23rd and it is offering low international shipping rates in 200 countries. The new team, replacing the founder Dov Charney, has kept the basic best sellers: disco pants, bodysuits, hoodies...but is avoiding the sexualized images preferred by Dov Charney. Gildan also dropped the made in USA tag.



Sneakers alert. Skechers' stock plunged by 28% last Friday after the sneaker company issued a weak outlook for its second quarter. All seemed to be growing (paywall) nicely, during its first quarter, which ended March 31, same store sales were up by 9.5%. However, Wall Street investors are nervous because the sneaker market is (paywall) so crowded. Giants like Nike and Adidas continue to fight to increase their share of the market and new young brands like Canadian Vessi Footwear keep the competitors on their toes.





brands

London calling. English footwear designer Nicholas Kirkwood is going back (paywall) to England in September to show his collection during London Fashion week. The brand, part of the LVMH family, has been showing in Paris over the past 5 years. This said, the Central Saint Martins alumnus feels it is time to present his collection where he lives and works. It is for him a necessary step before the brand expands beyond footwear into accessories, bags, jewelery and sunglasses.



Coachella souvenir. Beyoncé's double performance at Coachella festival was bedazzeled by Balmain designer Olivier Rousteing. The creator imagined all the looks for the singer, plus the costume for the 200 performers on stage and the camouflage outfits for the Destiny's Child reunion. Coachella is the place to spot emerging trends and introduce new looks. The Rousteing-Beyoncé collaboration is celebrated in an online pop up store opened until May that sells pieces inspired by the spectacle, such as Nefertiti T-shirts.





tech

Chinese trick. NetEase found an astute way to challenge Chinese E-commerce giants Alibaba and JD.com. Through its own label Yanxuan, the company sells apparel and accessories made by manufacturers supplying top luxury brands...at lower prices. The brands owners in question don't like it but consumers do: William Ding, the founder of NetEase announces $1.8 billion E-commerce revenue in 2017 and expects to reach $3 billion this year.





last

The Matrix obsession. The Matrix strikes again. The turn of the century science fiction minimalism style of the movie has inspired eye wear designer Ace and Tate. The company working with menswear label CMMN SWDN has created a 2018 collection named after the Matrix's Neo and Pris from Blade Runner. Eyewear designers are not the only movie buffs. The Matrix is also responsible for the resurgence of leather shirts, crocodile skin trench coats, bondage pants, catsuits...







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