Sep
 25
 2018



Ulrike

Hello,

Welcome back to The Spin! Although investors are not too thrilled by the prospect of Michael Kors LLC buying Versace, the new shopping partnership between Snapchat and Amazon got the market excited. We also tell you what some of the high-profile designers, who have been ousted by the recent industry shake-ups, are doing these days. Enjoy the read and feel free to share! Best, Ulrike



brands

Ambitious deal. Michael Kors LLC, which acquired luxury shoe brand Jimmy Choo for $1.2 billion last year, has agreed to purchase Gianni Versace Spa, valuing the Italian brand at about €2 billion or about three times its estimated sales. Investors were not too thrilled, sending Kors’ shares down 9 percent Monday morning.


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Scrutiny. Following disappointing Q3 results, German fashion company Gerry Weber AG is bringing in (paywall; in German) external appraisers for a restructuring report. This announcement caused the Halle-based company’s stock to plummet (in German) more than 20 percent on Monday. The report should be available by mid-October, as refinancing talks with banks continue.





retail

Fresh Face(book). To update its assortment and further engage customers during the holiday season, US department store chain Macy’s has partnered with Facebook to launch The Market@Macys in nine high-traffic stores. As part of the popup initiative, 150 online brands which advertise on Facebook will rotate every two weeks.





tech

Shopping supremacy. To make it easier for consumers to identify and buy products, Amazon has teamed up with Snap Inc in a rare shopping partnership. The SeeSnapGet feature allows participants to aim their phones at a product or a barcode, which then opens a pop-up window showing shopping results for similar items on Amazon.



Living laboratory. Before rolling out new concepts like the cashier-less Amazon Go stores, Amazon usually tests these ideas right in its hometown, Seattle. By roaming the city, people who are interested in the US online giant’s developing initiatives can find many examples for new ideas, for example a storefront for package pickups and returns as well as a grocery pickup station.





people

From Nina Ricci to Jean Patou. After taking control of Jean Patou, LVMH has named Guillaume Henry creative director of the French label, which is best known for its “Joy” fragrance. Henry, who recently left Nina Ricci, will present his debut collection in late 2019. LVMH is also looking for a new CEO for Jean Patou.



Back to reality. Due to the massive shake-up in the fashion industry, several high-profile designers like Frida Giannini, Alber Elbaz and Jenna Lyons were recently ousted from their prestigious positions at Gucci, Lanvin and J.Crew respectively. Away from the spotlight, these former creative directors are now following their personal passions, from experimental collections to charities (in Italian).





last

Surprise performance. Head-to-toe fringes, sculptural ruffles and a white cockatoo - Gucci’s 85-piece collection (image gallery) was full of surprises, including this year’s location at the Théâtre Le Palace in Paris. But the biggest one came half way through the show when singer Jane Birkin rose from her front-row seat for a live performance of "Baby alone in Babylon". Paris Fashion Week runs from September 24-30.







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