Sep
 13
 2018



Christopher

Hello,

Today's issue of The Spin again leads with lots of news from the retail front. Inditex, Printemps and Macy's are all predicting a bright foreseeable future while whispers about Debenhams just won't seem to stop. In addition, there's still plenty of hype about streetwear in New York and a beloved designer is again making headlines for his latest creations. Enjoy this Thursday read. Best, Christopher



retail

Record breakers. Zara's parent and the world's biggest apparel retailer, Inditex, released its financial results for the first half of the year yesterday which reflected growth for the period and broke some company records. Like-for-like sales rose 4 percent and Inditex predicted that they would increase by as much as 6 percent in the second half due to the positive reaction to its fall fashion offerings. Another well-known European retailer, France's Printemps, also expects to have a record year (in French) and announced it will launch a luxury e-commerce site by 2020.


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Retail rumor mill. Tongues once again wagged yesterday about the potential merger of Debenhams and House of Fraser after a director at Sports Direct, the new owner of House of Fraser and a 29.7 percent investor in Debenhams, told reporters at its annual meeting that the topic "had been discussed." He was soon forced to clarify his words and said that no such deal was in the works at present, a statement the company soon verified. Sports Direct also announced the departure of its chairman Keith Hellawell.


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Merry Macy's. As further proof of its push to focus on Internet sales, Macy's will hire 5,500 more holiday employees to work at its online fulfillment centers across the US than it did last year. Of the 80,000 total temps it intends to take on for the season – the same number as last year's initial holiday hiring which was later increased to 87,000 after a positive Black Friday results – 23,500 will work in the centers. Macy's is also testing a new sales technique by dropping limited edition watch models every week through November.





brands

Happy Hermes. Inditex and Printemps aren't the only fashion companies posting record numbers this week. Yesterday Hermes announced that its first half operating margins were its best ever at nearly 35 percent of sales. Hermes' sales were up across all markets and the luxury brand continues to perform very well in China, which helped increase overall sales in Asia by 13 percent.



Fresh fest... Media brand/website Hypebeast is taking a page from the playbook of Zalando or Modefabriek and Kingpins, which run the Bread&&Butter and Denim Days (press release) events respectively, and launching its own consumer-based fashion, music and art festival (paywall) in Brooklyn next month. Called Hypefest, the free ticketed event (paywall) will be open to 10,000 visitors and feature streetwear-centric booths by labels such as Adidas and Moncler among other attractions.



...and fresh feet. The latest limited edition sneaker by BBC x Pharrell N.E.R.D. x Adidas NMD Hu dropped exclusively in New York on Tuesday at the Billionaire Boys Club store and immediately – and unsurprisingly – sold out. Unlike prior sneaker drops where eager buyers line up in front of the store, this one was done via the Frenzy app and winners were notified if they were eligible to pick up a pair. The green and yellow shoe is currently fetching upwards of $2,000 per pair on sneaker resale sites.





markets

Social statement (Part II). As it continues court political controversy with its Colin Kaepernick ad, Oregon-based Nike is also speaking out on another hot-button issue: Immigration. Nike CEO Mark Parker and Tim Boyle, CEO of fellow Oregonian brand Columbia, have both publicly declared their support of state law that is facing potential repeal. The so-called sanctuary law protects immigrants from profiling by the federal authorities.



Growing the Goose. Outwear and knitwear brand Canada Goose unveiled its third manufacturing plant in Winnipeg, Manitoba on Tuesday in a ceremony that was attended by Canadian Prime Minister Justin Trudeau. The Manitoba government will invest about $1.5 million in the new $15.8 million facility to help create about 700 jobs.





people

Alber returns. Former Lanvin designer Alber Elbaz, who has kept a generally low profile since being fired from the house three years ago, is in the spotlight again thanks to his new multiseason collaboration with bag maker LeSportsac, which he recently promoted during New York Fashion Week. He also hints that he is working on a new project but has not revealed any specific details..







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