Jan
 31
 2019



Ulrike

Hello,

Welcome back to The Spin! In Germany, the retail correction continues with the bankruptcy of Monsoon Accessorize GmbH. Over in the US, sports giant Nike got itself into hot water with a sole design, that some say resembles the Arabic word for Allah. On a lighter note, the fashion world is getting excited about the upcoming Dior exhibition at London’s V&A Museum. Enjoy the read and have a wonderful day, Ulrike



retail

Slow down, Sesame! Although Alibaba beat Q3 earnings estimates, sales (press release) at the Chinese online giant grew at the weakest pace in three years, reflecting a slowdown in the Chinese economy and first effects of the Sino-US trade war.


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When it rains, it pours. British Monsoon Group has filed (paywall; in German) for bankruptcy for its German subsidiary Monsoon Accessorize. The move puts 30 stores with about 190 employees at risk. The online business in Germany is not affected, nor is the British arm, which has recently been ailing as well. Parent company Drillgreat Ltd reported pre-tax losses of £10.5 million in fiscal 2017/2018, as sales remained flat at £424 million.


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The high cost of working. According to German union Verdi, the majority owner of the Karstadt/Kaufhof joint-venture, Signa Holdings, is asking (in German) employees to relinquish €70 million to contribute to the companies’ restructuring. Verdi's tariff commissions are scheduled (paywall; in German) to discuss the next steps in February. By then, the cornerstones of a future concept of the company including a possible employee contribution should be available in writing.





tech

Before midnight. Amazon is planning a third-party seller marketplace in the Middle East, which could replace the Dubai-based e-commerce platform Souq.com Amazon acquired in 2017. For Amazon competitors in the US, FedEx has announced a late-night shopping option offering next-day delivery on merchandise ordered as late as midnight.





markets

From store to storage. An increasing number of vacant anchor stores in US shopping malls are being converted into warehouses and logistics centers for online retailers. Amazon even takes up entire mall sites. The US online giant already moved into a new facility at Ohio’s former Randall Park Mall and is currently building a new Amazon fulfillment center at the empty Euclid Square Mall in Ohio, scheduled to open this spring.





brands

Don't step on Allah! More than 14,300 Muslims have signed a petition asking Nike to recall its Air Max 270 sneaker style, which they claim has a sole design that resembles the Arabic word for Allah. The petition was launched by Saiga Noreen, who calls the design offensive to Muslims and insulting to Islam and wants the US sports giant to remove the model from its worldwide market. She aims for 15,000 signatures - which should not be too far off...





people

From Cambridge Analytica to H&M. Whistleblower Christopher Wylie, who exposed the Facebook/Cambridge Analytica scandal, has signed a consultancy contract with Hennes & Mauritz. The Swedish fast fashion retailer expects the ethically oriented data scientist to help increase its insights on customers, products and markets and to further its efforts in artificial intelligence (AI).





last

Designer of Dreams. Expanding on last year’s couture Dior display in Paris, the highly anticipated Dior exhibition at London”s V&A will feature the largest look into the house of Dior, including 162 objects that have never before been displayed. Scheduled to run from February 2 to July 14, the magical line-up of haute couture dresses follows the aesthetics of Christian Dior, who passed on just a decade after helming the house, Yves Saint Laurent, John Galliano and current artistic director, Maria Grazia Chiuri.







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