Welcome to this new edition of The Spin. Today we follow up on Victoria's secret shakeup. A new president has been chosen to refresh the brand. We're also interested in the topic of bankruptcy, because David's bridal fell into chapter 11, but the Mattress Firm example shows that a company can quickly be back in business, as usual. In other news, Black Friday is fast approaching. Guess who could prove to be the most active buyer? The man of the house. Enjoy the read. Best, Caroline.


Victoria's new king. John Mehas, the president of Tory Burch, will join Victoria's Secret early next year as its new president. He replaces Jan Singer, who resigned last week. John Mehas, according to Leslie Wexner, the chairman of parent company L Brands 'is an outstanding retail merchant". He will have (paywall) to redress Victoria's Secret "poor assortment" and fix "Pink's fashion errors in loungewear". Lately, Victoria's has been facing competition from younger brands with alternative styles.

Neiman's transformer. Neiman Marcus has named (paywall) Katie Mullen to the newly created role, chief transformation officer. The Boston Consulting Group alumnus was picked by the CEO Geoffroy Van Raemdonck to spearhead growth initiatives and deploy the company's transformation. Kate Mullen, a graduate of Princeton university has previously worked at Neiman Marcus on several projects as a BCG consultant. Geoffroy Van Raemdock relies on her fresh perspective to shake up business at Neiman Marcus.


Bankruptcy's vows... David's Bridal's has just filed for (paywall) bankruptcy protection in Delaware. The company said that it has entered into an agreement with its creditors to reduce its debt by more than $400 million. The reorganization scheme provides $60 million in financing to maintain business as usual both online and in its 300 stores. David's Bridal suffers from increased pressure by pure players and stores that offer customized options.

...but it's not the end. It's true that David's Bridal is entering chapter 11, but Mattress Firm shows that this process, while disagreeable can be quick. One month after announcing its own bankruptcy, the company's chairman Steve Stagner says that Mattress Firm is ready to exit chapter 11, with the benediction of the court. The new company is closing (paywall) 700 unprofitable stores. It will be streamlined to 2600 locations with enhanced omni-channel capabilities to fight the online competition.


Friday's specials. Black Friday, the legendary American commercial extravaganza, on the Friday after Thanksgiving, is a few days away. Last year, consumers generated $7.9 billion in online retail sales only. Of course retailers expect better in 2018 and multiply initiatives to squeeze out those extra dollars. Amazon's deals are already showing up online, Target has 15% cyber Monday discounts and Walmart will soon reveal its online must-haves. Consumers need to think hard about their buying strategy.

It's him! The big spender in the family is not her, it's him! According to a new study by JLL, American men are expected to spend more than women during November and December: 30% of men plan to buy more than $750 in gifts while only 25% of women are expected to do the same. Men are encouraged by the strong economy and they find more products that they like online and in store. New online players Untuckit, Rhone, Bonobos...will benefit from this trend.

Successfully declining. On the heels of positive Singles' day sales, announced a great third quarter financial result. China's second largest e-commerce platform tripled its net profit to $400 million and its revenue increased more than 25%. Still investors were worried by geo-political concerns and the slowdown in big ticket items hasn't allayed their fears. The stock declined 8.42% Monday morning.


Fake bags? Chanel last week filed a lawsuit against the consignment startup the RealReal, alleging that some Chanel handbags sold on the platform are in fact counterfeit. The RealReal protested saying that the company "stands behind its authenticity guarantee". Chanel doesn't like these re-sellers and pledges to firmly protect the brand. On the other hand, the RealReal (paywall) champions the circular economy...with success. Re-commerce upstart are growing 20 times faster than the retail market.


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