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ANZEIGE



 Aug
 15
 2019



Christopher

Hello,

Welcome to a new edition of The Spin. Amidst fears of a international economic slowdown and bad news from Macy's, stocks nosedived yesterday. Amazon is making even more inroads into India, Foot Locker and Nike have a new partnership and despite the rumors, Anna Wintour ain't going anywhere. In fact, she just got a promotion. You'll also learn about a cool new clothing line that is meant to block Big Brother-like cameras. Best, Christopher



markets

Deep dive. Stocks plunged in Asia, Europe and the US yesterday as new signs pointed to a global economic slowdown. China's industrial output is the slowest it has been in 17 years, Germany may soon be entering a recession and bond trading in the US indicated the US could be facing one soon too. In the US, the Dow Jones Industrial Average experienced its fourth-largest drop of all time. Also hit hard were Macy's and other retailers after Macy's reported Q2 earnings that fell very short of analysts' expectations.


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retail

Piece of the pie. Amazon is reportedly looking to acquire as much as a 10 percent stake of Future Retail Ltd., one of the largest retail conglomerates in India, for about $281 million. The deal would give the online giant more power in the region against competitor Walmart, which invested in e-commerce platform Flipkart last year. While primarily a grocery and electronics business, Future Retail also has a chain of apparel stores called Fashion at Big Bazaar.



Absent auditor. Sports Direct, which released its annual – and pretty awful – annual results weeks late last month now needs a new accounting firm. Grant Thornton, which has been the retailer's auditor since 2007, announced it would not renew its contract as of September 11. Sports Direct has spoken to the four biggest auditing firms about taking the job but all have declined, meaning it may break stock market rules and not be able to appoint an official auditor at its annual meeting next month.



Sneaker symbiosis. The new Foot Locker store in Washington Heights, NYC is the first place other than a Nike store where customers can use the Nike app (translated by Google) to learn about and buy product thanks to a newly launched partnership between the two companies. This so-called Power Store is the first Foot Locker to be digitally focused and the company plans to open more soon.



Friday on my mind. A new study (press release) by Yieldify of about 400 retailers in the US and the UK says that most are optimistic about sales on Black Friday this year. On average they predict a rise of 28 percent compared to last year, with nearly half of American retailers expecting a jump of 25 to 75 percent.





people

Anna ascends. Condé Nast's denial several months ago that Anna Wintour was leaving was clearly true as she has just been named to a third and new position at the publishing house. In addition to being artistic director for the US and editor-in-chief of US Vogue she is now also global content advisor. In her new role she will oversee Vogue International and share global content with others at the company.





tech

Antisurveillance apparel. Designer Kate Rose unveiled her new anti-technology fashion line at the DefCon hacker conference in Las Vegas earlier this week. Called Adversarial Fashion (homepage), the clothing with license-plate prints is created to muck up the data collected by automatic license plate readers, or ALPRs, which police can use to track people's locations. The machines don't know the difference between real plates and prints so wearing the clothes could make the scanners ineffective.





last

It's raining men(swear). England's Westminster Menswear Archive is mounting the largest exhibition of menswear ever in the UK in London this fall. Called "Invisible Men," the show will run October 21 to November 24 at Westminster University and feature more than 170 garments from the past 120 years. Featuring works by key British designers such as Alexander McQueen, it will explore the design inspiration behind a lot of menswear such as workwear and the military.







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