Oct
 10
 2018



Christopher

Hello,

Welcome to today's edition of The Spin. LVMH has gotten a shot in the arm thanks to Chinese consumers still buying its brands while beleaguered Sears seems set to file for bankruptcy any day now. Nike is working with fashion's newest "it" kid (and she literally is a kid) as Amazon and Flipkart are continuing to woo additional customers in India during its big annual sale season. Enjoy the read! Best, Christopher



brands

Still going strong. LVMH announced its Q3 results yesterday and they quelled any fear that Chinese consumers were cutting back on luxury spending. The conglomerate saw a 10 percent rise in comparable sales for the period along with a 10 percent rise in revenue, to €11.4 billion. Sales in the fashion and leather goods division rose 14 percent and crown-jewel label Louis Vuitton continues to be LVMH's most successful fashion brand.


Advertisement
ANZEIGE



Italian investment. Remo Ruffini, the CEO and chairman of Moncler (which launched its new Moncler Genius retail concepts to the public last week) has purchased (paywall) a 49 percent stake in womenswear line The Attico through his independent company Archive srl. Archive hopes to grow the 2-year-old hyped brand which was initially founded by Italian influencers Gilda Ambrosio and Giorgia Tordini as a collection of robes.



Nike's 9-year-old. To mark the International Day of the Girl tomorrow – a day that celebrates female youth worldwide – Nike is releasing (company gallery) in North America a limited edition girl's collection of three T-shirts and a bucket hat designed by Dear Giana, a 9-year-old artist who has taken the fashion world by storm and amassed more than 22,000 Instagram followers. The items will drop on nike.com tomorrow.





retail

Sorry Sears. According to the Wall Street Journal embattled US department store Sears is preparing to file for bankruptcy after noting that it may not be able to pay a $134 million debt that is due on Monday. The filing may be done as quickly as this week. Sears, which has racked up more than $11 billion in losses in the last seven years, also announced it has hired Alan Carr, a financial restructuring expert, as an independent director to help it resolve these messy matters.



Chief executive ouster. In a clear sign that it's rough in the retail world today, the number of retail companies in the S&P 500 that changed their CEOs last year hit an all-time record of 23 percent, more than double the sector's average historical rate and the overall S&P 500 index for the year. Researchers also saw a growing trend of hiring outsiders to assume the role of CEO. And although male CEOs still far outnumber female ones, numerous fashion companies have recently named new female leaders.



Brawling with bargains. Amazon and arch rival Flipkart are battling for sales and additional customers as they both officially kick off special sales today to mark the start of festival season – a key purchasing period – in India. Amazon gave its Prime members early access to its five-day Great Indian Festival promotion yesterday and expects the event to be the largest one yet for its fashion arm. Combined, both Amazon and Flipkart are expected to account for 85 percent of festive season sales this year, which could be as high as $3 billion.





people

Jenna jumps back in. Jenna Lyons, who reimagined the J. Crew brand as creative director until she left the company in April 2017, is returning to the fashion spotlight. She has announced a new partnership with Turner Entertainment to launch a lifestyle brand that will be supported by a weekly unscripted lifestyle TV show and a director-to-consumer website that will be unveiled in 2019. She is also considering launching her own product line for the curated site.





last

Camp costumes. The Metropolitan Museum's spring 2019 Costume Institute exhibition has been announced and the theme is a rather unusual one – camp, the tongue-in-cheek love of exaggeration and artifice that Susan Sontag famously wrote about in her 1964 essay "Notes on Camp." The show will open May 9 and of course be centerpiece/theme of the annual Met Gala, so expect even more over-the-top red carpet looks than usual next year.







logo-small   

is a product
delivered to you by
textilwirtschaft.de | Imprint