May
 13
 2019



Caroline

Hello,

Welcome back to this new edition of The Spin. Rihanna and LVMH are launching their new label in Paris. The American private equity firm Sycamore tries for the second time to buy women's apparel chain Chico's. Victoria's Secret, the biggest lingerie chain in America, says good bye to its annual show on network television. Enjoy the read. Best, Caroline.



markets

Riri in Paris. LVMH and Rihanna's fashion venture is getting (paywall) some traction. The new label called Fenty will present its first collection on May 22 in Paris. Rihanna is a 49.99% shareholder in the company, LVMH which has put up €30 million in the venture, owns the other half. Bernard Arnault, LVMH chairman, rarely launches a fashion brand from scratch, but he knows Rihanna from their previous partnership Fenty Beauty. "I discovered a true entrepreneur" he says.



Styling in London. Katrine Lake, CEO of Stitch Fix, the US online clothing styling company, is introducing (paywall) her personalization technology to the UK. The $1.5 billion group relies on a questionnaire detailing size, preferred styles...following which the algorithms and real stylists make a selection of the apparel, sent to the customers. England is the first outpost for Stitch Fix because Brits love online shopping. According to Mintel's report, they spent £20 billion on clothes and shoes online in 2017. The Germans? Only £12 billion.



Bidding in Florida. Once again private equity firm Sycamore Partners is trying to buy Chico's, the Florida owner of 1400 women's apparel stores, known as Chico's, Soma lingerie and White House Black Market. The hostile takeover offers $3.5 per share in cash, which evaluates Chico's at about $408 million. The group, that targets mature women is fighting harsh competition from department stores and online brands. Chico's board of directors "will carefully review the proposal."





brands

No more TV. Victoria's Secret famous fashion show bids farewell to network television. Les Wexner, the CEO of parent company L Brands sent a memo last week to employees stating that "we must evolve and change to grow". Last year's show had (paywall) an audience of 3.3 million viewers, three times less than in 2013. Victoria's Secret use of supermodels in high heels and crystal encrusted lingerie no longer seduces an evolving consumer. It's time for "a new kind of event on different platforms" says Les Wexner.



New York's appetizers. New York Fashion Week: Men's will begin (paywall) with a Men's day on June 3, organized by Agentry PR to showcase emerging designers. Abysm, Amirok, David Hart among others, will make their presentations at Daylight Studios, close to the new Hudson Yards, on the West side of New York. Agentry PR chose dates in advance of the premiers for London, Milan and Paris so that buyers may see the American collections before they leave for Europe.



Paris anyway. Sies Marjan, one of the great New York fashion labels, will unveil (paywall) its first men's only show...in Paris, during the French fashion week. Sander Lak, its designer, had launched the women's collection Sies Marjan in 2016 and added men's last fall in 2018. The creator chose Paris in preference to New York because that's where higher profiled brands tend to debut. Sander Lak, who once worked at Dries Van Noten, Balmain and Phillip Lim is known for his colors and plush fabrics.





tech

Just buy it. Nike and the US women's soccer team partnered on May 9 to let fans use shoppable Snapchat lens. Thanks to the augmented reality feature, women could decorate their Snapchat selfies, try on jerseys of the coming FIFA Women's World cup tournament and buy them. It was the first time that Nike sold apparel via Snapchat. Adidas, Coty, STX entertainment...have also sold on Snapchat. Other platforms such as YouTube and Instagram are testing their own shoppable opportunities.





people

Disruptions expert. PVH, the owner of Calvin Klein and Tommy Hilfiger has created (press release) a brand new role in the C suite: Chief Digital Officer. Marie Gulin Merle, who is already in charge of marketing at Calvin Klein, is adding (paywall) that new position to her resume. The CDO's mission is to drive consumers engagement by leveraging technology and to react strategically to new disruptions. Prior to PVH, Marie Gulin Merle spent 15 years at L'Oreal, refining her digital transformation experience.







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