Apr
 17
 2019



Ulrike

Hello,

Welcome back to The Spin! In the aftermath of the shocking fire at Notre-Dame, companies from all over the world have pledged support. Meanwhile, some of the current retail gloom has been defied by surprisingly positive results at Zalando and JD Sports. We also tell you, why venture capitalists are suddenly interested in astrology. Enjoy the read and feel free to share! Ulrike



brands

Operation rescue. Following the devastating fire at Paris’ Notre-Dame de Paris, several French companies and families have already pledged more than €600 million to help rebuild the landmark. Among the first contributors were Kering CEO François-Henri Pinault, and his father François Pinault, who will contribute €100 million from their Artémis fund. LVMH and the Arnault family as well as L’Oréal and the Bettencourt Meyers family offered €200 million each. Additional companies include Total, Air France-KLM and Apple.



Navy blues. Italian designer label Jil Sander is going to discontinue (in Italian) its diffusion line, Jil Sander Navy, following the current Spring/Summer season. Starting with Autumn/Winter, the main collection will be expanded by sustainable Jil Sander+ items (images), which stand for organic, high-performance and often eco-sustainable fibers. The company also plans to expand its new store concept, which launched (press release) with the new flagship in Tokyo.





retail

Saving Fascies. The Kienast Group plans to buy (paywall; translated by Google) German shoe retailer Schuhpark Fascies out of self administration. Kienast, which operates 400 stores under the ABC Schuhe, Shoe4You (in German) and Street Shoes labels, prevailed against several fellow bidders. However, the deal is still subject to the approval of the creditors. Founded in 1975, Schuhpark Fascies employs (in German) around 910 people. As part of the restructuring, 18 of the 89 stores are to be closed this summer, affecting about 150 jobs.



Sweet surprise. Due to an unexpected 15.2 percent rise in revenues, German online retailer Zalando expects (paywall; translated by Google) a profit for Q1, beating most estimates, which had predicted a loss. Investors liked what they saw and sent the stock up 10 percent. Complete Q1 results will be presented on May 2.



Bright spot. An additional highlight in the gloomy retail scene is British JD Sports, which just reported a record 49.2 percent increase in revenues thanks to its focus on Millennials and Gen-Z. Although store expansion contributed to the growth, pretax profits rose a healthy 15.4 percent to almost £340. The Bury-based retailer also received shareholder approval for the acquisition of the Footasylum footwear chain, based in nearby Rochdale.





people

From Chloé to Karl. To further its wholesale expansion, Karl Lagerfeld has named (paywall; translated by Google) Nicolette Veendorp as Sales Director. Veendorp joins the Amsterdam-based fashion label from Compagnie Financière Richemont, where she was wholesale commercial director for the Chloé and See by Chloé labels. She’ll report (paywall) to CEO Pier Paolo Right and divide her time between Paris and Amsterdam. Karl Lagerfeld also has over 100 monobrand sales points worldwide.





tech

Digitizing Sports. The online sports arm of Signa, the parent company of German department store group Galeria Karstadt Kaufhof, has entered (translated by Google) into a partnership with the technology service providers Soccerwatch.tv and Tracktics. The goal is to support (in German) amateur and professional sports teams in their digitization efforts. Meanwhile German union Verdi has called (translated by Google) for strikes at Karstadt Sports to put pressure on Signa-owner René Benko to further wage negotiations.





last

Star struck. Fueled by Millennials, the US market for astrology services has grown to over $2.1 billion per year, starting to attract venture capitalists. Apps like Sanctuary offer free daily horoscopes and monthly chats with an astrologer, while the Co-Star and Pattern apps let members compare their birth charts. Co-Star has already been downloaded about 3 million times.







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