May
 04
 2018



Christopher

Hello ,

Welcome to Friday – and today's week-ending edition of The Spin. There are two major developments in social media that you and your businesses should know about along with news from Esprit, Adidas and the new 2.0 version of American Apparel. Enjoy the read and here's to a wonderful weekend. Best, Christopher



tech

Stories of success. Facebook's chief product officer says Stories – those collections of images and videos that disappear after 24 hours – will become the most popular way people share information on social media by next year, replacing the traditional news feed of standard posts. Social media agency Block Party notes that more than 1 billion accounts will use Stories daily by the end of the year. It therefore also advices businesses to start creating them too.



Instagram adds e-comm. Instagram is starting to roll out a new native payments feature that will allow users to shop from the site without leaving it. Now available to some users in the US and the UK, the feature requires one to register a credit or debit card and set up a PIN. The service now allows people to make restaurant reservations but will soon be expanded so that they can purchase items directly from the popular picture sharing app.





brands

Esprit's exit. Esprit announced yesterday that it is leaving the Australian and New Zealand market and will close all of its 67 stores, concessions and factory outlets there by the end of the year. The brand, which began in the US but is now headquartered in Hong Kong, has seen a 64 percent drop in sales in Australia and New Zealand in the last seven years to $50.5 million in 2017.



Try, try again. American Apparel, which finished closing its chain of more than 300 stores worldwide in May 2017 after declaring bankruptcy, is putting a tiny toe back in the retail pool. Its new parent company, Gildan, announced yesterday that it will open one brick-and-mortar American Apparel store in Los Angeles later this year but that it does not plan to open any others. The store is on Melrose Avenue and formerly served as an American Apparel flagship. The rest of revived brand's business will remain online and direct to consumer.



Keeping Kanye. Adidas, which posted positive Q1 earnings yesterday that showed especially strong sales in North America, is keeping its connection with Kanye West despite a public cry to drop him after his wave of controversial remarks of late. Although nearly 13,000 people have signed an online petition asking the brand to drop him, CEO Kasper Rorsted said that the company does not support all of his comments but that West and his Yeezy label are "very important" to the company.





retail

Negative numbers. A new survey about job cuts in the US indicates that the retail sector really is in the midst of a bloodbath. With the latest monthly results consistent with the rest of the year thus far, retail accounts for more than one-third of the 176,460 slashed jobs that have been announced in 2018, making it the worst hit industry by far. The surveying firm has also tracked 2,460 announced retail store closures year to date.





people

Harrods hires. Bucking the gloomy retail trend mentioned above, Harrods is hiring and has named Amanda Hill to the newly created role of chief marketing and customer officer. A veteran of television with executive experience at A&E Networks and BBC Worldwide, she will be in charge of all marketing, communications, visual merchandising, media campaigns and customer service. Harrods has also made appointments to its senior brand and digital teams.



Contrite cover girl. Gigi Hadid has publicly apologized on Instagram (with a Story, not a regular post, by the way) for appearing on the cover of the latest issue of Italian Vogue in skin that has been so bronzed that some accused her of appearing in blackface. The model said she had no control over the creative direction or retouching of the photo by Steven Klein. Condé Nast International also issued a public apology for the image.



Margiela movie. A documentary about the notoriously mysterious Belgian designer Martin Margiela is in the works and receiving full cooperation from him. Called "Without Compromise," the film is set to be released in 2019 and will focus on the secretive creative who has never even released an official photo of himself.







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