May
 21
 2018



Christopher

Hello ,

Welcome to a new week and a new edition of The Spin. Today we're looking at what brands will benefit most from their appearance at the royal wedding. In addition, women are leading an increase in sneaker sales – but alas not very many fashion companies. Happy Monday and enjoy the read. Best, Christopher



brands

Bridal boost. As her everyday wardrobe has already helped grow the businesses of fashion brands such as Everlane and Mother Denim, it's no surprise that insiders are predicting that three labels worn by Meghan Markle (and some of her guests) at Saturday's royal wedding will soon experience a boost (paywall) in sales as a result. Those that will benefit most will be Givenchy, which provided the wedding dress, Stella McCartney, who designed the reception gown, and Cartier, which made the bride's jewels. Overall, the wedding is predicted to increase clothing sales in Britain by £150 million.



Back in the NY groove. German athletic and sneaker giant Puma announced last week that it has signed a 15-year lease to open a 24,000-sq.-foot, three-level flagship store on New York's Fifth Avenue, its first in Manhattan since it closed its three outposts there a few years ago. Located at 49th Street across from Saks Fifth Avenue, it will be the first Puma Brand Store in North America. The projected opening date of the store was not released.





retail

Soaring sneaker sales. It seems that Puma has chosen the perfect time to set up shop in North America: a new study by the NPD Group says that women's sneaker sales in the US grew 37 percent in 2017 while sales of high heels fell by 11 percent in the same period. The results are supposedly due to consumers' greater desire for comfort and an increase of product options available in the market. Overall, sales of athletic footwear in the US grew 2 percent last year to almost $20 billion.



M&S mess. Troubled UK retailer Marks & Spencer will announce this week what underperforming brick-and-mortar locations it will be shuttering as part of its plan to turn its performance around. While it was originally supposed to close about 60 stores analysts now believe the number will increase and could be as high as 100. The retailer will release its full-year results on Wednesday, which are expected to be disappointing.





markets

International appeal. Recently unseating London as the the most important international shopping destination in the world with 62 percent of global retailers present there, Dubai continues to invest heavily in retail development. Despite rising vacancy rates, the emirate plans to add about 16 million sq. feet of retail space over the next three years, including new malls and mixed-use facilities. This will be a 50 percent increase in what is currently available.



Kiwi slowdown. Retail sales in New Zealand rose just 0.1 percent in the first quarter of the year, the slowest rate since the July-September period of 2012, and well below the 1 percent rise predicted by economists. The clothing, footwear and accessories sector was particularly hard hit and fell 5 percent compared to the previous quarter.



Gender gap. While there are some exceptions to the rule, the fashion business is one that is run mostly by male executives. A new study (paywall) called "The Glass Runway" will be released this week by the Council of Fashion Designers of America, Glamour and McKinsey & Company and aims to change that fact. Another recent study showed that retail has the highest number of female executives of any sector.







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