Aug
 14
 2018



Christopher

Hello,

Welcome to this Tuesday edition of The Spin. VF Corp is unloading its denim divisions after all, Virgil Abloh continues to generate serious fashion buzz (this time with Serena), Fred Segal is about to land in Europe and suddenly everyone is interested in China's massively large Millennial population, who clearly have a lot of power and potential. Enjoy the read! Best, Christopher



brands

Splitting one's jeans. Turns out the rumors we mentioned yesterday about VF Corp unloading its Wrangler and Lee brands were true and now we have the details. Rather than selling them to another company, the giant conglomerate will spin off its denim business and create a new publicly traded entity so that it can concentrate on its more profitable outdoor labels such as Vans, Timberland and The North Face. VF will also move from its longtime home of Greensboro, North Carolina to Denver by 2020; the new unnamed denim business will remain in Greensboro.


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Triple play. Red-hot designer Virgil Abloh, Nike and Serena Williams have collaborated on a new capsule called The Queen Collection that Williams will wear during the 50th edition of the US Open, which starts August 27. The offering includes a one-shoulder tennis dress, a $900 leather jacket and pair of Air Max 97 sneakers. No official release date has been announced but the full lookbook can already be viewed.



The front page. Streetwear fans are selling copies of yesterday's daily edition of The New York Post newspaper (cover price $1) for nearly $20 apiece on eBay because it featured a wraparound front page cover showing the logo of cult brand Supreme. The special edition reportedly sold out within just a few hours. Printed (see video) to announce the release of the new fall collection, the promotion covered The Post's entire print run and was the first time the newspaper ever ran a full-page front and back cover ad.





retail

Amazing Amazon. Shares in Amazon reached a new all-time high on Monday and analysts say that at its current value of $940 billion the online giant could soon join Apple as a $1 trillion company. Its shares have risen 65 percent in 2018 thus far and sales are expected to reach $265 billion this year. But its success can also be strangely helpful to its competition. A newly released survey shows that 40 percent of Amazon customers made purchases from other retailers on Amazon Prime Day.



Fred spreads. Iconic Los Angeles based multi-brand boutique Fred Segal will soon enter the European market for the first time by opening (paywall) two shop-in-shops in Zurich and one in Bern in the Swiss department store Globus. It will also open one store each in Kuala Lumpur and Taipei next month. The retailer is also expanding domestically and will add a small outpost in Malibu early next year.



Positive prediction. The National Retail Federation revised its 2018 sales forecast for the USA yesterday and predicted that annual sales there will rise 4.5 percent instead of the previously stated 3.8 to 4.4 percent. This trade organization, which has fiercely opposing President Trump's tariffs of late, has also just released its annual list of the largest retailers in America. Walmart tops it with $374.80 billion in annual sales.





markets

Millennial mania. Numerous media outlets have published stories about the traits of China's Millennial generation in the past few days. Their findings show – among other things – that these youngsters are far more likely to rack up credit card debt than their elders, visit the hidden local spots of Paris rather than do luxury shopping there and embrace retro fashion looks. And a new investment report states they present a "massive opportunity" as their population is about the same size of that of the entire USA.



Danish demonstration. Things got political during Copenhagen Fashion Week last week when Iranian-born designer Reza Etamadi used his show for the streetwear label MUF10 to protest the recently passed law in Denmark that prohibits people from wearing items that hide one's face, including some traditional Muslim scarves and veils. The designer sent models out in full burkas and had them give flowers to people dressed like police officers. The designer believes that the law infringes on a woman's right to choose whatever she wants to wear.







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