Dec
 19
 2018



Christopher

Hello,

Welcome to a new edition of The Spin. Thus far market analysts are still hesitant to place their bets on Burberry while two big watch trade shows have agreed to get their schedules in sync to make life easier for the industry. There are more store closures coming to the UK and yet another fashion company has fumbled when it comes to race relations. And it's time we all get at least one fact straight.... Best, Christopher



brands

Turnaround... to come. In the eyes of most stock market analysts Burberry is still not a "buy." Although the company is showing strong signs of a comeback under the leadership of CEO Marco Gobbetti and chief creative Riccardo Tisci the latter's new critically praised collection has not been released yet and shares in Burberry are down 4.6 percent this year. Along with Hermès, Burberry is currently the lowest ranked European luxury and apparel stock among analysts, a clear sign that they are not confident about its future growth.


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Saving time. Faced with numerous brands dropping out as exhibitors, the rival watch trade fairs SIHH (Salon International de la Haute Horlogerie) and Baselworld have synchronized their schedules and will occur one right after the other in April 2020. The former, which usually takes place in January, will instead happen April 26-29 in Geneva, with Baselworld running in Basel starting the following day, April 30. Although the new agreement – which is set to last through 2024 – may not bring back the exited brands, it will be advantageous to time- and money-crunched buyers and press.





retail

Asia for Ashley. Traditional English brand Laura Ashley, which is owned by Asia's Malayan United Industries, is reducing its footprint in the UK by 40 stores in order to concentrate on its Chinese e-commerce business "in a much bigger way." After the closures, the brand will operate 120 stores in the UK but it also plans to expand some of them to make up for the losses. Laura Ashley will also shutter all 18 of its stores in Australia by the end of the month after its arm there went into administration and failed to find a buyer.



Mall overhaul. Many shopping malls in the US are currently – and must continue to do so according to experts – making themselves over to offer better attractions, more enticing stores and special services including those for shoppers' pets such as water stations or temporary doggy daycare. One such recently renovated complex is Los Angeles' 36-year-old Beverly Center, which reopened last month after a $500 million makeover.





markets

Forever flub. Forever 21 has issued and apology after it – in yet another case of a fashion brand being racially clueless – tweeted out pictures of a pale, blond white model wearing its "Wakanda Forever" sweater to promote its "Black Panther" collection. The photos, which have since been removed (but they were, of course, screen captured beforehand) were met with outrage or utter disbelief on social media. One user even responded: "Wakanda bullshit is this, @Forever 21?"



Supporting secondhand. While the government and burgeoning fashion industry of Nigeria promote newness and innovation at the increasingly buzzed about Lagos Fashion Week, secondhand clothing trading is actually a huge part of the fashion-driven economy there. Bazaars such as the Aswani Market in Lagos create thousands of jobs and generate huge revenue for Nigerians. The growing secondhand sector is so important that the most recent Lagos Fashion Week even launched a campaign to celebrate it.





people

Adieu, Anthony. Anthony Chalhoub, co-CEO of Chalhoub Group, the largest retail operator in the Middle East with more than 650 luxury boutiques in 14 countries, has died. The executive, 63, passed away from cancer in Paris on Monday. He became joint CEO with his brother Patrick of the family business seven years ago. During his tenure he helped establish a retail academy to train the next generation of luxury retail executives.





last

Myth busting. Although it is constantly cited as a rock-solid statistic, the so-called "fact" that "fashion is the second-most polluting industry in the world" has never actually been proven. Now that this "fake news" has been uncovered (paywall) as such, even eco-friendly designers such as Eileen Fisher are asking people to stop saying it.







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