Jul
 16
 2018



Christopher

Hello,

Happy Monday and welcome to a new edition of The Spin. Today is the start of the world's newest made-up retail holiday, Amazon Prime Day, but all is not perfect for the online giant. High street stores are going more classic with their designs and Louis Vuitton is increasing the size of its Chinese footprint. And one California politician wants to ban neckties. Enjoy the read and the start of your week! Best, Christopher



retail

Prime time. Today marks the start of Amazon's fourth annual Prime Day, a now 36-hour sales event that rewards Amazon Prime members with sales and discounts. Experts estimate that the worldwide event, which is being rolled out in Australia for the first time this year, could generate up to $3.4 billion in revenue for the online behemoth. However, its arrival is not entirely rosy: striking European Amazon workers are calling for a buying boycott and several of Amazon's competitors are also benefiting from the hype by launching similar sales.


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Tired of trendiness. In an effort to improve their faltering sales and join the increasingly popular mindset of "buy less and buy quality" UK high street stores John Lewis and Marks & Spencer have revamped their offerings to include more classic pieces that are more timeless than trend-driven. Analysts say the approach could work but that these and other stores must make sure that their assortment is not too watered down fashion-wise.





brands

LV goes nationwide. In the wake of the recent announcement that it was lowering prices in China by 3 to 5 percent because of the Chinese government's reduction of import duties, Louis Vuitton has taken another step to boost sales there: its e-commerce and related special services are now available throughout the country. Launched exactly one year ago, the brand's e-comm has only catered to China's 12 largest cities until now. Sales of luxury goods in China are predicted to grow by 20 to 22 percent this year.



Great '78. Calvin Klein has launched a new sub-label called Calvin Klein Jeans Est. 1978 that is named after the year the brand was founded. The latest creation of creative director Raf Simons, it is separate from the main Calvin Klein Jeans collection and offers street-friendly graphics such as one of the silhouette of Brooke Shields in her iconic Calvin Klein Jeans ad from 1980.





people

Crazy rich Asian. India's Mukesh Ambani, the chairman of Reliance Industries Ltd., which recently announced it was launching a platform to compete against Amazon and Walmart, has overtaken Alibaba's Jack Ma as the wealthiest person in Asia. According to Bloomberg Ambani is worth $44.3 billion, a bit more than Ma's $44 billion. Reliance Industries began as a manufacturer of textiles.



Emir exec. Emaar Malls, a leading property developer in the Middle East and the owner of The Dubai Mall, the world's largest shopping mall, will have a new CEO as of next month. Patrick Bousquet-Chavanne, the former head of digital and marketing at Marks & Spencer, will take over the position from Nasser Rafi who is leaving to pursue "new challenges."





markets

Keen on Kenya. The African nation of Kenya is making headlines for its entrepreneurs who help create fashion. Residents of the country's refugee camps have created several successful small independent businesses including a clothing line. Likewise, a lakeside tannery there creates leather from leftover fish skins.





last

Nixing neckties. The mayor of Lancaster, a small town in Southern California, has proposed banning neckties as a workplace dress code requirement due to quality of life concerns. Mayor R. Rex Parris read on a science blog the the accessories restrict 7.5 percent of blood flow to the brain and discussed the proposal at a recent City Council meeting. If passed, few believe such an ordinance would stand up in court.







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