Sep
 11
 2018



Christopher

Hello,

Welcome to this Tuesday's edition of The Spin. Amazon continues its domination of the online retail space (and continues to grow) while Richemont has a big boss again. You'll also see how politics and fashion intertwine in India and be reminded how the weather can have a massive effect on retail sales. Enjoy the read and please share The Spin with colleagues and friends. Best, Christopher



retail

Amazon's in the lead.... Wells Fargo agrees with a prediction made by Morgan Stanley earlier this year: Amazon will become the top seller of apparel and footwear in the United States in 2018, snatching the top spot away from Walmart. The new Wells Fargo reports says the online giant will rack up annual sales in the category of more than $30 billion by year's end. And Amazon's recent applications to trademark eight private label apparel lines show that it is pursuing this goal full steam ahead.


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...and getting even stronger. In a separate recently released study, Citigroup believes that Amazon will more than double the number of subscribers to its Prime service by 2029, with 275 million of them (about 80 percent of all households) in the US alone. While Amazon continues to expand the service worldwide, Prime is currently available in 16 countries.


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people

Ruling Richemont. Swiss luxury conglomerate Richemont has turned back time and appointed a CEO after doing away with the position in November 2016. Jérôme Lambert, the current COO and a 19-year veteran of the company, takes on the new position effective immediately. He previously served as CEO of Richemont-owned Montblanc and will undoubtedly work to further increase Richemont's growing sales, especially online.





brands

Election Day at Ellis. Perry Ellis has set the date: shareholders will vote (paywall) at a special meeting in Miami on October 18 whether to accept the offer by founder George Feldenkreis to take the company private for $437 million. If approved, Perry Ellis will be delisted from the stock exchange. Issued on August 30, the company's most recent quarterly earnings report was positive and beat analysts' estimates.



Brunello's new baby. E-tailer Mr. Porter has just launched a new exclusive collection made in collaboration with esteemed Italian luxury brand Brunello Cucinelli. The 60-piece offering includes apparel, footwear and accessories, many of which are transitional items. Although it only went on sale yesterday, some items have already sold out.





markets

Inclusive India. Reflecting the societal and political change there that led to last week's court decision that decriminalized gay sex nationwide, India is increasingly embracing and celebrating genderless and LBGTQ fashions. Several Indian designers have shown such creations on the catwalks of late, shattering traditional style rules. Last month's Lakme Fashion Week even included a segment entirely devoted to genderless clothes.



Facing Florence. Fashion retailers in North and South Carolina are already experiencing slower foot traffic and preparing against potential property and stock damage as Hurricane Florence, a now a Category 4 storm, is set to hit landfall there on Thursday. Hurricanes can be devastating to a store's bottom line and cause a reduction in direct retail spending well into the millions.





last

Show me the money! Some of the most unusual and original designs shown at the Parsons MFA Show in New York last week were by Kota Okuda, a jewelry brand that has now crossed over into clothing design. The currency-themed collection included a dress made from giant one-dollar bills complete with a Pop Art-sized money clip and a huge black billfold top with a super-sized American Express card. Apparently money both talks and walks these days.....







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