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ANZEIGE



 Feb
 11
 2019



Christopher

Hello,

Happy Monday and welcome to a new edition of The Spin. A German retail chain is off the chopping block while UK stores continue to suffer. New names are making waves at fashion week in New York, which may not be Amazon's next home after all. And Gucci is still dealing with its racial PR nightmare. Enjoy the read. Best, Christopher



retail

Saved (for now). German retailer Gerry Weber, which recently declared bankruptcy, has temporarily saved its women's brand Hallhuber thanks to a €10 million bridge loan by an unnamed investor. In May 2019 the funder (paywall; text translated by Google) will have the opportunity to purchase the 400+-store Hallhuber chain outright, with Gerry Weber International keeping a 14% stake or a 12% one on top of the purchase price. The company said the deal was "an essential step" in its reorganization and restructuring.


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No to New York? Media outlets are reporting that Amazon is considering abandoning its plan to open an East Coast headquarters in Long Island City, Queens in New York City. The online giant is apparently unhappy about the backlash it has received from certain community and political leaders who oppose its planned arrival there and the generous government subsidies it will receive. Amazon has not yet purchased or leased land in the area so a backout would be a PR headache but not necessarily a financial one.





markets

Numbing numbers. Just released studies by the British Retail Consortium, Springboard and Altus Group indicate just how dire the current retail situation is in the UK. According to the findings, almost one-tenth of all high street stores are now vacant and 14,000 retail jobs have been lost since last Christmas. In addition, customer footfall at UK physical stores was down 0.7% in January, the 14th consecutive monthly decline.



Still loving luxury. Although China's economy is showing signs of slowing down for the first time in nearly 20 years, it has not affected the performance of many international luxury brands such as Hermès and Louis Vuitton there, which continue to see robust if not record-breaking sales in that country. China now accounts for one-third of the total global luxury market but that could soon shift. According to new research, Chinese consumers are also increasingly turning to domestic designers and brands for luxury purchases.





people

In print. UK newspaper The Daily Telegraph published a story on Saturday describing the details of the alleged sexual misconduct by Arcadia Group chairman Sir Phillip Green after Green dropped his legal case that sought to prevent the publication from running the story. The allegations accuse Green of sexual, racial and physical abuse against employees, some of whom have signed nondisclosure agreements. He denies all charges but some are now calling for him to be stripped of his knighthood.



Crazy for Koizumi. Japanese designer Tomo Koizumi, who held his first ever runway show on Friday night at the Marc Jacobs store on Madison Avenue, has emerged as this season's toast of New York Fashion Week. His frothy, colorful tulle creations wowed editors and celebrities alike and boosted his number of Instagram followers from 3,000 to 18,000 virtually overnight. He was invited to show in New York by celebrity stylist Katie Grand.



Loco for Luka. Designer/influencer Luka Sabbat has created a small collection of clothes to raise awareness about climate change. On display at Milk Gallery in New York through Thursday, the line, which he named "Unfortunately, Ready to Wear," includes garments that are meant to protect against heat waves, air pollution and punishing storms. He created it in partnership (press release) with the Natural Resources Defense Council.





brands

No excuses. Although it formally apologized and removed the offending item last week, Gucci is still facing fire for its sweater that many said resembled someone in blackface. Harlem designer Dapper Dan, who works with the brand, said via Twitter that there was "no excuse or apology" that could repair the damage and that he would personally meet with the brand's CEO this week. In addition, celebrities Spike Lee, Soulja Boy and TI are now calling for a boycott of the label.







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