Aug
 06
 2018



Ulrike

Hello,

Welcome back to a new week and a new edition of The Spin! WeWork has just extended the closing date for its purchase of HBC's Lord & Taylor flagship in New York, putting the store's fate in limbo. Over in Britain, Missguided saw sales explode following its product placement on the TV reality show Love Island. And then there is the denim designer who habitually hides in a black body suit. Enjoy the read and don't forget to share! Best, Ulrike



retail

Arrested development. WeWork has extended the closing date for its $850 million purchase of HBC’s Lord & Taylor NY flagship store from August 10 to November 13. For an additional deposit of $25 million, the co-working company has the option to further push back to January 31. It could also convert $125 million of the value into an equity interest in the building which would be held (press release) by HBC through a joint-venture structure.



Well-guided. British multichannel retailer Missguided, which is reviewing (paywall) the future of its physical stores, has been taking product placement to the next level with British dating reality show, Love Island. The brand provides outfits for contestants, allowing viewers to buy the items via the shows official app, which resulted in a 9,000 percent bump in sales.





brands

Sweetening the bid. Perry Ellis International has received an unsolicited $458.6 million buyout offer from Randa Accessories. At $28.90 per share, the offer is about 5 percent higher than the $27.50 bid from founder George Feldenkreis which was approved by the company’s board on June 16, and about 3 percent higher than Randa’s previous $28 per share, which had been rejected due to “not being in the best interest of shareholders”.



Dark denim. Although 69 has a huge cult and celebrity following, its designer insists on to remaining anonymous. Now, the gender-, age-, size-, race- and attitude-neutral denim label gets its own 69: Déjà Vu retrospective at the MOCA Pacific Design Center in West Hollywood (Aug 4-Oct 28). But even that event has not pulled the notoriously anonymous designer out of hiding in a full-body-covering black body suit.





tech

Measure of man. A new generation of 3D scanners lets customers create avatars in their exact physical shape. US startup Naked Labs first marketed its device to consumers’ as a fitness tool to track body changes and is now talking to fashion companies for applications in eCommerce and custom production. Over at Shanghai’s Moda Polso, virtual fitting rooms can produce avatars to show customers how items would look on them.



Just say yes! By the end of the year, US lifestyle blog turned shopping platform PopSugar plans to expand its one-year-old shop-via-text feature Must Have It to 20,000 subscribers. Each week, participants receive texts with product suggestions including images and descriptions that they can purchase by simply replying “Yes”.





markets

Moscow calling. Chinese customers like big name brands like Balenciaga, Vetements and Yeezy, and they increasingly buy them in Moscow. Boosted by the recent Fifa World Cup and a new tax-free program, the Russian capital is attracting Chinese luxury travelers, who also appreciate Russian retailers’ transparent pricing strategies, Chinese speaking support staff and increasing acceptance of payment options like AliPay, UnionPay and WeChatPay.





last

Another head hangs lowly. The fashion world is mourning the death of 32-year-old Rick Genest. The Canadian model and muse of Nicola Formichetti and Lady Gaga also known as Zombie Boy for his disturbing tattoos died Wednesday. In addition to model gigs, Genest had starred in Lady Gaga’s Born this Way (video) and a striking Dermablend campaign (video). His passing puts yet another spotlight on mental health issues in the fashion world.







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