Dec
 17
 2018



Christopher

Hello,

It's not February 2 but this edition of The Spin sure feels like "Groundhog Day." It's another day, another case of a fashion brand coming across as blatantly racist.... Which begs the question: How can these multibillion dollar powerhouses be so freakin' clueless? And in another story that sounds familiar, Canada Goose is now facing the ire of Chinese customers too – but through no fault of the brand this time at least. Finally, yet another British retailer has gone belly up. So cue up that song "History Repeating" and enjoy today's read. Happy Monday, Christopher



markets

Deja vu. Prada has removed its Otto animal character from its Pradamalia collection of accessories and apparel after a Facebook post saying that it resembled blackface caricature went viral last Thursday. The Prada Group immediately pulled the items and tweeted that it "never had the intention of offending anyone and we abhor all forms of racism and racist imagery." It later added (paywall) that it will form an advisory council on diversity, inclusion and culture and make a donation to a group that fights for racial equality.


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Beijing boycott. Dolce & Gabbana isn't the only foreign fashion label to irk Chinese consumers of late: Canada Goose, which was scheduled to open its first store in China on Saturday, said the unveiling would be delayed because of construction problems. However, many suspect the holdup may really be due to a growing boycott of the brand there to protest the arrest of Huawei's CFO Meng Wanzhou in Canada earlier this month. One Chinese outlet even says that that chances are minimal that Canada Goose will open the store until Chinese-Canadian relations are repaired.





retail

Blue Inc's blues. Menswear chain Blue Inc has entered administration – and is the latest victim of the retail bloodbath that is happening on the UK high street. For now, its 31 locations will remain open until the store's future is decided; two parties are said to be interested in acquiring some or all of the brand. Overall, November's in-store sales on the UK high street were the lowest (paywall) since 2015 and nasty weather helped keep shoppers away this past weekend, too.



Flipping Lids. US retailer Genesco, which owns such stores as Journeys and Johnston & Murphy, has sold its headwear-store division, Lids, for $100 million – 40 percent less than what it paid for it 14 years ago – to Ames Watson Capital LLC, the owner and operator of Fanzz, a licensed sports apparel chain. Lids has experienced decreased sales for years and has been on the market since February. It currently has more than 1,200 locations.



Into India. Miniso, the low-cost Japanese-style retail chain that is actually Chinese, is blossoming in India, where fashion and beauty product sales are helping drive its growth. It entered the Indian market in August 2017 and currently has 67 stores there but plans to increase that number to 800 by 2020. It will also start sourcing Made in India products to its stores in other countries, including Australia and the US.





people

Ugo's United Colors. Salvatore Ferragamo CFO Ugo Giorgelli, who we told you on Friday will be leaving that company on January 11, already announced (paywall) his next move. In March he will become (in Italian) general staff director at Benetton Group where he will handle such areas as finance and IT. The Group's current CFO, Sandro Saccardi, will move to its real-estate holding company Edizione upon Giorgelli's arrival.





tech

Goody 2.0 shoes. Puma has reissued a technologically updated version of its RS-Computer Shoe, a 1986 sneaker model that is now considered the world's first "smart shoe." The shoes featured an embedded computer chip that measured speed, distance and calories burned a la a Fitbit. The new version looks just like its retro brethren but boasts state-of-the-art technology that works with smart phones and apps. Just 86 models were released last week in honor of the style's birth year – and one of these limited editions is already being offered on eBay for a mere $11,500.





last

Fancy father. A Russian Orthodox priest was forced to issue a public apology and close down his Instagram account after being investigated by church officials for posting photos of himself posing with Gucci and Louis Vuitton accessories that were clearly not the trappings of the "immodest and unrestrained lifestyle" the church expects from its clergy. He also clarified that many of the photos were taken in stores and that he could no way afford to actually own such luxuries – the oldest Insta influencer trick in the book!







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