May
 02
 2019



Ulrike

Hello,

Welcome back to a new issue of The Spin! As Walmart and Amazon are battling it out on the music and content streaming front, Neiman Marcus contemplates the sale of its MyTheresa division. We also tell you, which sports brand is having high ambitions with men’s underwear… Enjoy the read and feel free to share! Ulrike



tech

Amazon's Tidal wave. With the launch of its free Amazon Music service and a planned high-fidelity music streaming platform, US online giant Amazon is taking aim at the business models of pure-player music streaming companies like Spotify and Jay Z’s Tidal.



Walmart and chill. Meanwhile, Walmart plans to finance at least six original programs for its video streaming service Vudu, which it acquired in 2010. The US retail giant, which sells almost 50 percent of all TVs in the US, aims to create both interactive TV shows and shoppable ad content through its joint-venture with interactive content startup Eko. The retailer plans to offer the family-friendly programs for free.





retail

YourTheresa. Dallas-based luxury retailer Neiman Marcus Group, which just recorded (SEC filing) the first sales decline in almost two years, is exploring strategic alternatives including a possible sale for its European subsidiary, MyTheresa. Since Neiman Marcus moved MyTheresa to its private equity owners last fall, it has been at the center of a legal dispute between Neiman Marcus and one of its creditors, investment company Marble Ridge, which vehemently opposes (press release) the plan.





brands

Gilded growth. This month, Prada is going to launch (in Italian) a fine jewelry collection featuring bracelets, necklaces and earrings. Retailing through Prada’s own stores and webshop for €580 to €4000, the line includes whimsical pieces shaped like robots, guitars and roses. The initiative (paywall; translated by Google) follows similar launches by luxury competitors including Kering’s Gucci (paywall) and LVMH’s Gabriela Hearst (paywall).



Nike's undies. A new licensing deal (press release) between Nike and PVH is designed to sell Nike-branded men’s underwear around the globe. The line is going to be produced by PVH’s Center of Excellence for Underwear, where the company also makes its famed Calvin Klein underwear. As part of the design, sourcing, marketing and global distribution agreement, Nike’s current underwear offerings for men will be significantly expanded (paywall).



The return of the Joop! Woman. After a three-year hiatus, German Holy Fashion Group is relaunching (paywall; translated by Google) Joop! Women, starting with the A/W 20/21 season. This comeback follows the successful development of Joop! menswear and the reintroduction of the Joop! Jeans casual line. Last year, Joop! Women gave (paywall; translated by Google) its bodywear license to Naturana.





tech

Insta-scam. As Instagram is working hard to replace traditional retail outlets and eCommerce sites, counterfeiters are increasingly utilizing the platform as an elegant showcase for their illegitimate wares. Using hashtags of their targeted brands as well as terms like #replica and #mirrorquality, which has just been removed by Instagram, over 50,000 accounts posted more than 65 million posts exclusively for the sale of fakes.





people

Movin' on up. Struggling Ascena Retail Group, which saw its stock plunge 51.4 percent in March, has named (press release) Gary Muto its new CEO. Muto succeeds Chairman and CEO David Jaffe, who has retired from the New Jersey-based company after 27 years. Muto has been with Ascena since 2008, most recently as president and CEO of Ascena Brands. Meanwhile, Carrie Teffner has been named (paywall) interim executive chair of the board of directors.







logo-small   

is a product
delivered to you by
textilwirtschaft.de | Imprint