May
 06
 2019



Ulrike

Hello,

Welcome back to The Spin! To speed up trade negotiations with China, US President Donald Trump has threatened more and higher tariffs on Chinese imports to the US. Over in Paris, Virginie Viard has shown her first solo Chanel collection since Karl Lagerfeld’s passing to critical acclaim. We also tell you, which reality star makes up to $1 million for a single post on social media. Enjoy the read - and the week! Ulrike



markets

Tariff man. In response the slow progress in trade negotiations with China, US president Donald Trump unexpectedly announced the increase of tariffs on about $200 billion worth of Chinese imports from 10 percent to 25 percent, starting this Friday. Trump also threatens to put 25 percent tariffs on an additional $325 billion of goods from China "shortly". Experts view (paywall) the threats as a last-minute attempt to influence ongoing negotiations, which are expected to be finalized this week.





brands

Viard's Trainspotting. On May 3, Chanel presented Virginie Viard’s debut collection as artistic director for the French fashion house since the passing of Karl Lagerfeld. And the czar's aura was still present: Lagerfeld and Viard had previously discussed the set, a Beaux Arts-inspired train station, which also provided many ideas for Viard's Cruise 2020 collection (video). The colorful line convinced with its fun and functional accessories including head scarves, novel bum and belt bags, and 60s inspired footwear, and the final applause brought tears to Viard's eyes.



Major League. Although Nike remains the frontrunner in the embattled US athletic sports market, Adidas and Under Armour have been catching up, noticeably slowing Nike’s growth rate. Nike already started a few initiatives to accelerate innovation, speed and consumer connection. Adidas’ resurgence in the US, which started around 2016, is also hitting a snag with revenue growth slowing from 23 percent in Q1 2018 to 5 percent in Q1 2019, while Under Armour (paywall) works hard to keep its No 3 position amidst a 3 percent sales decline.





markets

Lost relevance. After almost four decades, Swedish fast fashion retailer H&M will discontinue publication of its printed catalog, which was distributed in 18 markets at its peak. Final issues in the remaining six markets were published last week. The move is in response to shopping patterns continuing to shift from paper to digital devices, and follows companies like US lingerie chain Victoria’s Secret and German mail-order retailer Otto (paywall; translated by Google).





retail

Catching up. Canadian luxury retailer Holt Renfrew plans to invest about CA$400 million to modernize (paywall) its entire business by 2020. Particular focus is put on physical stores and omnichannel activities. In the first phase, Holt Renfrew Ogilvy in Montreal already received a new 3,700 m2 menswear department and a 2,300 m2 beauty hall.





people

Kanye's Kauderwelsch. US rapper Kanye West, who openly admits to struggling with bipolar disorder, gets a lot of attention for his sometimes bizarre tweets and opinions. Still, Kasper Rorsted, CEO of German sports brand Adidas, which has been collaborating on-and-off with the Jeezy creator since 2006, claims that West’s views are not something he worries about when he wakes up in the morning.



From Altuzarra to Herrera. US fashion brand Carolina Herrera has named (paywall) Jodie Chan vice president of global marketing and communications, effective today. Chan joins Herrera from Joseph Altuzarra, where she held the position of director of marketing and communications. She succeeds Lauren Astry Sorensen, who became senior director of global communications and public relations at Ralph Lauren in December 2018.





last

The $1 million post. Since fashion company Missguided failed to respond to a lawsuit by Kim Kardashian, the US reality star is now suing for a default judgement of $5 million. Kardashian alleges, that Missguided posted an image of hers without permission, thus making her look like a brand ambassador. She justifies the requested settlement by revealing that she is usually paid $300,000 to $500,000 for each Instagram post, sometimes even $1 million…







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