Welcome back to this new edition of The Spin. Today we are anticipating heated shareholder meetings at British retailers Superdry and Debenhams. At stake is the control of both companies. We are also looking at the promising Levi Strauss' IPO and keeping an eye on the financial results of Tod's, the purveyor of Italian luxury goods. It is not so easy to keep up with the younger generation. Enjoy the read. Best, Caroline.


Denim's return. Levi Strauss could raise as much as $587 million on the New York Stock Exchange. The San Francisco based group has filed yesterday with the SEC (Securities and Exchange Commission) for an IPO. It plans to offer 36.7 million shares, of between $14 and $16 per share, thereby yielding giving a value of as much as $6.2 billion to the group. Jeans are back in vogue: the category having grown 2.2% to $16.7 billion in 2018, after 4 years of decline, according to Euromonitor.

Digital sourcing now possible
Foursource, a tech start-up in Berlin offers apparel buyers a unique solution to match with garment manufacturers worldwide. The platform allows buyers and manufacturers to create profiles describing their business, product range, countries, certifications, target groups etc. Then, buyers can start searching using a matching algorithm that shows manufacturer profiles sorted by relevance or take advantage of the several filter and search by picture options. In short, LinkedIn meets for the apparel industry. Despite being officially launched 20 months ago, has managed to get manufacturers from over 60 production countries to create verified profiles - the network reached over 15.000 companies already.
Buyers can register for free now.

Founders' fight. The British retailer Superdry will hold what promises to be a heated shareholder meeting on April 2 in London. Co-founders Julian Dunkerton and James Holder who own together 27,5% of the company want (paywall) to return to the game. Dunkerton, who has been very critical of Superdry 's management expects a seat on the board, but the management says it would be "extremely damaging" and "cause the departure of key personnels."

Shareholders' fight. British department store Debenhams is closing on a £150 million loan from its current creditors to snatch back control from Mike Ashley, the owner of Sports Direct. The retail tycoon, who already has a 30% stake in Debenhams would like to appoint (paywall) himself as chef executive of Debenhams. The £150 million loan would give more latitude to the management team to restructure its store portfolio...without Mike Ashley's input.


Loafers'alert. On Monday, the Italian luxury goods company Tod's reported (paywall) a 33.6% drop in net profits to €47 million and a 2.4% decrease in revenue to €940,5 million. The parent company of chic loafers Tod's, luxury sneakers Hogan, high end shoe maker Roger Vivier and outerwear maker Fay has difficulties catching (paywall) the eye of a younger generation. To reverse this falling trend, the group launched in late 2017 Tod's factory. It promises new products and more frequent collection releases.


Magic discount. When American department stores (Macy's, Sears) and specialty stores (Gap, Chico's, Payless Shoe Source) are closing thousands of locations, Off price giant Ross is quietly pursuing its expansion. The Californian retailer plans to add 100 new stores in 2019 to its 1745 stores portfolio. The Ross formula - offering designer apparel at prices 20 to 60% off department stores - is still winning new consumers. Same store sales rose 4% in fiscal 2018.


Holy appointment. Marino Edelmann will take on (paywall, translated by Google) the position of managing brand director of Strellson in the fall of 2019. Strellson, the largest menswear manufacturer in Switzerland, belongs to the Holy Fashion Group, the parent company of Joop! and Windsor. Marino Edelmann comes from Drykorn, where he was sales manager. The German Drykorn, founded in 1996, is known for its metropolitan, reachable and progressive style.

Bye Bye Simoens. The Parisian brand Azzaro just announced the departure of its artistic director Maxime Simoens who had been discovered at the Hyeres festival in 2008. An alumnus of the Chambre Syndicale de la Haute Couture, he was appointed at Azzaro in 2017 to relaunch its premium women's and men's ready to wear lines. The brand's owner, the fund Reig Capital Group, based in Andorra, didn't elaborate (in French) on the reasons for the departure of the young man.


Aladdin's logistics. Alibaba tightens (paywall) its grip on the Chinese logistics industry by injecting $693 million in STO Express. The investment that gives Alibaba a 15% stake in STO Express, is its 4th investment in a domestic delivery company. Unlike American Amazon or its Chinese competitor, Alibaba doesn't own its logistics components. Alibaba focuses on the tech platforms to connect them together.


is a product
delivered to you by | Imprint