Nov
 30
 2018



Christopher

Hello,

Here's one more edition of The Spin to help you wrap up the week informed about all things that are in style. It turns out that fashion played a major role in election meddling (who would have thought?) and that China is officially a fashion powerhouse. Both Abercrombie and Prada are looking forward to the future while discount chain Payless has proven an interesting point about how pricing – not quality – can make customers think they are buying something special. Enjoy the read – and your weekend. Best, Christopher



markets

Sustainable Stella. Designer and avowed environmentalist Stella McCartney will introduce a new United Nations charter next month at the climate talks in Poland. The agreement calls for the fashion industry to become more sustainable in order to fight climate change. It was prompted by the UN's climate change secretariat in Bonn, Germany. While McCartney is the only fashion name attached to the charter thus far, the names of the other supporters will soon be revealed – and are said to include several fast fashion companies.


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Clothes do make the man. Cambridge Analytica, the now shuttered political consultancy that used pilfered personal Facebook data to influence elections in the US and elsewhere, looked closely at people's fashion choices to determine who were the best targets for pro-Trump messaging. At a conference in the UK yesterday former employee Christopher Wylie revealed that mining Facebook data for people's favorite fashion brands was a key tactic and an extremely useful one.



Great haul of China. According to a just released report co-sponsered by McKinsey & Company and the Business of Fashion, China will surpass the United States in 2019 and become the biggest consumer fashion market in the world. It also reports that India will hit sixth place by 2022. The surveyed 270+ fashion executives for the study also believe that luxury sales will continue to grow in the Asia-Pacific region next year.





brands

Upbeat Abercrombie. According its just released quarterly numbers, Abercrombie & Fitch is indeed in turnaround mode. It topped analysts' expectations by more than doubling its net income compared to the prior year and net sales also rose albeit slightly. As a result, the on-the-mend company now plans to close fewer stores than it previously declared. It also announced that Kristin Scott, who headed Hollister, has been promoted to global brands president and that the brand president of Abercrombie & Fitch is leaving.



Prada hearts NY. Prada will show its resort 2020 collection in New York on May 2, 2019 at a location that has not been revealed yet. The news comes in the wake of the announcement that Louis Vuitton will also show resort in the Big Apple six days later. Both luxury labels are said to be piggybacking on the fashion/celebrity hype associated with the annual Met Gala, which will take place in New York on Monday, May 6.



For the girls. After receiving a handwritten letter from a nine-year-old girl asking why his Curry 5 sneakers for Under Armour were not available for girls, basketball star Steph Curry quickly responded and sprang into action. The father of two girls and vocal supporter of female empowerment sent her a letter back assuring her that the sizes would no longer be labeled "for boys" and that he was sending her a complimentary pair. As of yesterday, Under Armour's website already featured "girls" options for the shoes.





people

A prize for Priya. Priya Ahluwalia, a graduate of the University of Westminster, London, won the eighth annual H&M Design Award in Berlin yesterday for her eponymous and sustainable menswear collection. The prize (press release) includes a cash award of €25,000 and a six-month paid internship at the H&M headquarters. Last year's winner, Richard Quinn, has since become one of London's hottest and most buzzed about young designers.





last

Punk'd by Payless. Discount retailer Payless recently pulled a fast (and clever) one on so-called fashion influencers. Taking over a former Armani store in California and renaming it "Palessi," it invited shoppers to buy its shoes, which are regularly priced from $20 to $40, for up to $600. Numerous people fell for the scam and the store quickly made $3,000 in sales. Payless later informed them of the prank, refunded their money and will now use the video evidence as commercials to show that despite its smaller price tags, the chain is still a great place to find fashionable footwear.







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