Welcome to this new edition of The Spin. Today we are looking at 4th quarter results of big American companies. TJ Maxx, the off price retailer did quite well during the holiday season, Victoria's Secret not so well. Fortunately, new projects are in the making to keep consumers interested. The star singer, Rihanna is perfecting her partnership with LVMH and Shayne Oliver is relaunching the cult brand Hood By Air. Enjoy the read. Best, Caroline.


Three suitors. The Italian brand Roberto Cavalli, part of Clessidra since 2015, has attracted (paywall) 3 mysterious suitors, according to the magazine Women's Wear Daily. German designer Philipp Plein is very much interested in buying the brand. He identifies with Roberto Cavalli's lifestyle and jet set attitude. Nevertheless, he is not alone. Renzo Rosso, the owner of Diesel has looked at the brand and Tapestry, the parent company of Coach and Kate Spade made contact with Rothschild, Clessidra's financial advisor.

Treasure hunt. TJX cos, the American owner of off-price retailers TJ Maxx and Marshall's had a very Merry Christmas. When classical department stores had a disappointing 4th quarter, TJX enjoyed (paywall) a rosy $11,1 billion quaterly net sales, and comparable store sales were up by 6%. For the full year, TJX revenue rose 9% to $39 billion. The treasure hunt atmosphere in TJ Maxx stores brings in more traffic. The strong economy stimulates customers' spending, even though they are not ready to buy at full price.

Victoria's nightmare. L Brands shares have plunged more than 8% after hours trading, following mixed fourth quarter earnings. Net sales for the quarter grew 3% to $4.85 billion, thanks to the good performance of its Bath and Body Works subsidiary, but Victoria's Secret, the other subsidiary, was disappointing. Comparable sales in stores fell 7% at the lingerie retailer. Women who once loved sexy bras are switching to more comfortable styles. Aerie, Third Love, Adore Me...are gaining market share.


The golden goose. The first details about the luxury fashion line that Rihanna is launching with LVMH are emerging. She is investing her own money, close to €30 million, to keep 49,99% of the joint venture shares. She hired people from Louis Vuitton and Celine to help her. Furthermore, the president of the new company, Jean Baptiste Voisin comes from LVMH. Riri's lifestyle brand is called Project Loud. It will include ready to wear for men, women and children, footwear, leather goods and athleisure.

Gold medal. Nike has strengthened its position as the world's most valuable apparel brand, according to Brand Finance, a valuation consultancy business. Nike's brand value has increased by 16% to $32.4 billion since last year, thanks to its "bold marketing". The silver medal goes to Zara, the bronze goes to Adidas, runner up number 4 was H&M. Adidas is gathering steam in the US, underlines Brand Finance, but the gap between Nike and its rival remains colossal.

HBA return. The bad boy of New York fashion week, Shayne Oliver is relaunching the cult brand Hood By Air (HBA). The emerging brand went "on hiatus" in 2017 and Shayne Oliver kept busy collaborating with Diesel, Colmar and Longchamp. He was also an artist in residence for Helmut Lang. Nowadays refreshed and full of ideas, he is ready to bounce back but don't look for him at fashion week, He'd love to operate outside of the "ridiculous fashion schedule".


Triathlon fan. Adidas has appointed Martin Shankland to his board of directors and head of global operations. He replaces (paywall) Gil Steyaert, who has left the company. The Australian Martin Shankland, 47, is the perfect internal candidate, The triathlon fan joined Adidas in 1997. He has been managing director for emerging markets since 2017. Prior to that, he was in charge of Russia where during 17 years he developed a retail network for Adidas and Reebok.

The new rider. Dietmar Axt, the CEO of Mustang bids farewell (translated by Google) to the jeans brand after 7 years at the helm of the company. He will be replaced by Andreas Baur, the former COO of the s.Oliver Group. Andreas Baur has a solid experience in the apparel industry. Prior to s.Oliver, he was an executive at the Holy Fashion Group. Armin Fichtel, chairman of Mustang is sure to have the right man in the right position.


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