Dec
 13
 2018



Caroline

Hello,

Welcome to this new edition of The Spin. Today the online luxury player Farfetch is adding hot sneakers to its offer. We also give kudos to Adidas, Lululemon and Gap which took important steps to eradicate forced labor from their supply chain. On a lighter note, the American lingerie chain Aerie is on fire...Meghan Markle too. She tops the most popular inquiries on Google. Enjoy the read. Best, Caroline.



markets

Fetching sneakers. British online luxury player Farfetch is acquiring the sneaker expert Stadium Goods, now valued at $250 million. Stadium Goods opened in New York in 2015 to resell limited editions of sneakers, that can sometimes fetch thousands of $. Farfetch, eager to become the Amazon for the luxury sector, needs to have its own grip on the growing streetwear market. The company will now be able to offer sneakers on consignment everywhere.


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Forced labor. Adidas, Lululemon and Gap are (paywall) the best companies which took steps to eradicate forced labor from their supply chain. That's the conclusion of Knowthechain 2018 report on 43 big apparel and footwear companies in the world. Non profit coalition Knowthechain, a resource to understand forced labor risks, also ranks highly PVH, VF Corp, Nike, Hugo Boss, Ralph Lauren and Burberry, but Sketchers, Prada, Shenzhou and Eclat Textile Group get scores below 15/100.


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people

The new sneaker boss. Stefano Saccone has been named vice president and general manager of Vans in Europe, Middle East and Africa, effective April 1. The long time VF Corp executive was working for Napapijri and Eastpak before trying his hand at sister brand Vans. Prior to VF Corp, the Georgetown University graduate also worked for Nike, Ralph Lauren, P and G and Ermenegildo Zegna. His roadmap? Help the rapidly growing Vans to reach $5 billion in sales by 2023.



Uber cachet. Trouva, the British online marketplace for independent boutiques, has asked Niall Wass to be its non executive chairman. Niall Wass, partner of the London based investment firm Atomico, was a member of the executive team at Uber, working on the expansion of the company abroad. That's the kind of experience that Trouva is looking for. The start up landed in Berlin earlier this year and is developing right now in Amsterdam, Madrid and Copenhagen.





retail

Aerie's Secret. American Eagle Outfitters is doing well, but the real star of the company is its subsidiary Aerie . The lingerie retailer dedicated to teens has just announced for its third quarter a 32% rise of its comparable sales. This is the 16th consecutive quarter of double digit growth. Victoria's Secret competitor uses its popularity to accelerate the opening of stores: 60 to 70 new locations are on the 2019 agenda.



Send the shirt. Alton Lane, the men's custom apparel business is getting into (paywall) subscription box. The company, which opened earlier this year a flagship store in Tribeca (New York), has a new offer: Shirts for a year. Customers subscribe for 1 to 5 shirts each season. Alton Lane sends them a selection of swatches, they email their preferences and 2 weeks later, the new shirts arrive. Prices start at $475 for one shirt, one season.The subscription model is already a great success in the beauty sector.



British expat. London based Richard James has finally crossed the pond. The tailor to Prince William and David Beckham has opened its first 2260 square foot boutique at the corner of 57th street and Park Avenue in New York. The store uses a translucent screen to divide ready to wear and bespoke. The arrival of Richard James in New York is supported (paywall) by Charles Cohen, a billionaire customer turned investor, who purchased a majority interest in the label, last year.





last

Meghan mania. Google just released its 2018 year in search lists, a recap of its users most popular inquiries. And the winner is Meghan Markle, again and again. She is number 5 on the list of most searched fashion terms. She is number 1 in the category most googled person of the year and naturally she gets the number one spot in the wedding section. Every time the Duchess of Sussex wore an outfit, searches went wild and the item sold out in minutes.







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