Jan
 16
 2019



Christopher

Hello,

Welcome to this midweek edition of The Spin. On the retail front online sales boomed in the US over the holidays and a German chain is in even worse financial shape than it initially admitted. Nike's new shoes replace shoelaces with smartphones and Chinese seniors are being courted and appreciated by brands who want their buying power. Enjoy the read. Best, Christopher



retail

Record set. New data released by Adobe Analytics showed that US consumers spent a record breaking $126 billion online during the holiday season, a 16.5 percent increase from 2017. Cyber Monday sales were $1.7 billion more than Black Friday for a total of $7.9 billion. And although this news was upbeat, some speakers at the NRF Big Show in New York on Monday said there is more than a 50 percent chance that a recession will curb consumer spending later this year.


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Larger loss. Troubled German retailer Gerry Weber has adjusted its financial results for the fiscal year 2017/18 and the news is not good. It said that its previously announced EBIT loss of €148.1 million did not include an additional loss of €44.2 million, thereby making the total €192.3 million. It will release its final numbers for the year at the end of February and has already said that it will soon shutter 230 of its stores.





tech

Electron-kicks. Nike unveiled its most technologically advanced sneaker – the Nike Adapt BB – at a press conference at its New York offices yesterday. The high-tech laceless basketball sneakers, which will be released next month and cost $350 per pair, include electronics in the sole that can adjust the fit and snugness of the shoes either by pushing two buttons on the heel or via a smartphone app. The shoes' batteries must be charged about every two weeks. Star basketball player Jayson Tatum will be the first athlete to wear them on court at an NBA game in Boston tonight.





people

Very Virgil. Designer and industry darling Virgil Abloh will launch a new eponymous jewelry line during Paris Fashion Week tomorrow. The initial items will feature precious necklaces, earrings, etc in the shape of paper clips. He also has a new collection with Mr. Porter that drops next week and can celebrate the fact that his debut spring 2019 collection for Louis Vuitton has already outsold the super hyped LV x Supreme collaboration by 30 percent.





markets

War on wool. PETA has taken up a new battle: banning the use of wool. It and other animal lovers claim that although sheep are not killed to harvest the natural fiber that shearing them is inhumane, a claim that is fiercely denied (paywall) by sheep farmers. As a part of this fight, PETA has targeted Forever 21 and erected a billboard in Times Square last month starring a naked Alicia Silverstone that says "Leave wool behind."



Stressing sustainability. The CFDA has released its first report to help guide American designers who want to follow sustainable strategies. The 233-page document includes a guide to these strategies, step-by-step ideas on how to implement them, a materials index and a sustainability directory of terms and organizations. It stresses that people, companies and the industry as a whole must work together to make fashion cleaner.



China's endless summer (Fridays)... To jump start shopping and the slowing economy in general, the Chinese province of Hebei has proposed extending the weekend to include Friday afternoons. While some have praised the plan others say it will only benefit civil servants and cut back on the services that their agencies provide.



...and growing Golden Girls. By 2050 one in three people in China will be over the age of 60 and brands there are already increasing their efforts to attract these so-called silver spenders. Chinese catwalk shows feature more and more older models such as 56-year-old Ma Yinhong. More Chinese seniors are also embracing digital technology including popular apps such as WeChat.







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