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ANZEIGE



 Feb
 14
 2019



Christopher

Hello,

Happy Valentine's Day and I hope you'll love today's edition of The Spin. You'll soon be able to literally take stock in Levi's as you put on make-up by Victoria Beckham. And should a bouquet of red roses not be enough for your significant other today, why not buy them the department store Liberty of London for a mere £300 million? Of course, it's not just love that's in the air – designer Philipp Plein and a style writer are having an extremely nasty war of words. Enjoy the read. Fondly, Christopher



brands

Listing Levi's. Levi Strauss has filed for an initial public offering, the second IPO in its nearly 166-year-old history. (It first went public in 1971 but was reprivatized in 1985.) The company will be listed on the New York Stock Exchange and the offer could raise up to $100 million. Levi's, which has emerged a winner under CEO Chip Bergh, notes that it hopes to expand its non-denim offerings and grow its business in Asia and Europe.


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Taking Trussardi. Asset management company QuattroR has acquired a 60 percent majority stake in Italian brand Trussardi, which had been family owned since its founding in 1911. The acquisition will give Trussardi the means to expand internationally and strengthen its image and offerings. Tomaso Trussardi, a fourth generation family member to work at the label, will serve as chairman of the board of directors.



Hitting 3K. Skechers' brand new store in Shenyang, China is remarkable for two reasons: At 32,000 sq. feet it's the company's largest in the world and its opening has made the total number of Skechers stores surpass the 3,000 mark. Skechers says its plans to add up to 580 company-owned and third-party branded stores in 2019. It also just bought out its partner Future Group in its joint venture in India thereby making its Indian business a wholly owned subsidiary.



Beauty by Beckham. Victoria Beckham is adding a beauty and wellness arm to her eponymous brand. The line of make-up, skincare, fragrance and wellness items will launch in autumn/winter 2019 and will be sold directly to consumers through the brand's webshop. Sarah Creal, who worked with Beckham at Estée Lauder on their brands' 2016 collaboration, will serve as co-founder and CEO of the new entity.





retail

Listing Liberty. Storied UK department store Liberty of London is up for sale. Media outlets report that its owner, private equity firm Blue Gem Capital Partners, is putting the store and its famous fabrics division on the market for an asking price of more than £300 million. (Blue Gem paid £32 million for it back in 2010.) Liberty's last reported annual EBITA was £21 million, making it a success story in UK's increasingly beleaguered retail landscape.



Closings to come. A new report by Coresight says that announced store closings in the US since the start of 2019 are already 23 percent higher than they were during the same period last year and that more will come as there is "no light at the end of the tunnel." In addition, the US retail sector has another problem: while its millennial salespeople are now often well educated and "woke," their salaries do not at all match the skills and knowledge they bring to the selling floor.





markets

Rinse, repeat. In the latest chapter of what seems to be a never-ending saga of fashion supposedly perpetuating racism, Vogue Brazil's style director, Donata Meirelles, has apologized after receiving criticism for posting a photo of herself at her 50th birthday party posing on a white throne next to two black women in native dress. Critics said the image was reminiscent of 19th century slave owners posing with their slaves to show off their enviable "property." Vogue Brazil also issued an apology – just one month after Vogue America got heat for mixing up a Muslim journalist Noor Tagouri with Muslim actress Noor Bukhari.





people

Biting back. Designer Philipp Plein has been accused of "fat shaming" a journalist on social media after she wrote a negative review about his recent show at New York Fashion Week. Alexandra Mondalek, who covered the show/dinner for Fashionista, has shared now deleted Instagram posts from Plein that included –among other insults – an old photo of her when she was heavier with a promise to feed her more the next time. Mondalek has called his response a personal and "cruel social media blitz." Thus far, Plein has not commented on the controversy.







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