Jun
 21
 2019



Christopher

Hello,

Welcome to the first official day of summer (for those of you in the Northern Hemisphere) and a new edition of The Spin. Walmart has settled all foreign bribery charges against it by paying the US government $282 million while the UK's government has rejected a plan to make fashion greener there. Paris hosted a memorial to Karl Lagerfeld yesterday in the middle of Men's Fashion Week. And speaking of men's looks, up-and-coming basketball stars were once again peacocks at the annual NBA Draft last night. Enjoy the read and TGIF! Best, Christopher



retail

Sizable settlement. Walmart, the world's largest retailer, has agreed to pay $282 million to settle criminal investigations by the Securities and Exchange Commission and the US Department of Justice that reveal it bribed government officials in Mexico, China, Brazil and India to speed up store openings there, a violation of the Foreign Corrupt Practices Act. The investigations have lasted seven years after the New York Times wrote about the bribery in Mexico. Walmart is said to have spent about $1 billion on legal fees on the case and has been forced to overhaul its compliance systems as a result.





markets

Request denied. Missguided is feeling the scorn of environmental activists in the UK who received a blow earlier this week when the government rejected a proposal to charge a one pence tax on fast fashion pieces, ban incinerating or landfilling unsold clothing and implementing mandatory environmental targets at large fashion chains. The online retailer has gotten heat on social media for selling a £1 bikini that critics say is probably made by exploited workers. It's also 85 percent polyester and could seep its microfibers into the ocean. Missguided says the swimsuit, which has already sold out, was part of a special "thank you" promotion and that it cost far more than £1 to produce.



Second straight slowdown. In other UK retail news, overall retail sales fell for the second month in a row there in May and were down 0.5 percent compared to April. Clothing sales dropped 4.5 percent. The decline is blamed on cold weather and some fear a similar scenario this month thanks to a rainy June there thus far.





people

Karl For Ever. VIPs gathered at the Grand Palais in Paris yesterday to attend a memorial service for the late Karl Lagerfeld. Produced by Chanel, Fendi and Lagerfeld's eponymous label, the lavish service, called Karl For Ever, featured appearances by Tilda Swinton, Pharrell Williams and Cara Delevingne among others. Opera and theater director Robert Carsen conceived and oversaw the event.



Royal Ralph. Ralph Lauren, 79, is now a honorary knight of the British Empire. Prince Charles officially bestowed the title on Lauren – the first American designer to ever be given the honor – at a private ceremony at Buckingham Palace on Wednesday. Since he is an American citizen he is not allowed to be called Sir Ralph however.



Virgil does Vegas. Virgil Abloh, who showed his spring/summer 2020 Off-White and Louis Vuitton Men's collections in Paris this week, has signed on to be resident DJ at the Wynn resort in Las Vegas. He will begin spinning at the XS Nightclub starting June 29. In addition, he will open Off-White's first West Coast store at the Wynn sometime next month.





brands

Fast (food) fashion. Although Paris Fashion Week Men's still has three full days to go, one of its featured designers, Demna Gvasalia of Vetements, has made headlines because of the unusual location of last night's show: a McDonald's restaurant. The native Georgian (and Balenciaga creative director) used the collection and its setting to supposedly comment on capitalism. And, for added oddity, the show's physical invitation was a wrapped and branded Vetements condom.





last

Big & tall. As professional basketball players are increasingly viewed as legitimate fashion influencers, the annual NBA draft, which was held in Brooklyn last night, has emerged as a very important night for new suiting and menswear trends. And yesterday's so-called "concrete carpet" did not disappoint. Colorful, often custom-made suits – or ones from the likes of Gucci or JCPenney – were top choices (gallery) along with super blingy watches such as the Rolex encrusted with $50,000 worth of diamonds sported by Tyler Herro.







logo-small   

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