Sep
 05
 2019



Ulrike

Hello,

Welcome back to The Spin! Following its merger, German department store chain Galeria Karstadt Kaufhof is seeing increased customer satisfaction. Over in the US, sports brands are encroaching on the former turf of luxury brands, while luxury brands with a strong presence in Hong Kong welcome CEO Carrie Lam’s decision to withdraw the region's controversial extradition bill. The fashion world also mourns the death of famed photographer Peter Lindbergh. Feel free to share! Best, Ulrike



retail

Happy together. Signa-owned Galeria Karstadt Kaufhof has been gaining popularity (paywall; translated by Google) in Germany. According to a broad retail customer satisfaction study (in German), the merged entity scored higher than both chains did separately, due to improved price-performance perception and digital offerings. Among fashion marketers, shopping club Brands4friends (rank 6), Intersport (16) and Decathlon (19) recorded the happiest customers, followed by SportScheck (20), Limango (21), TK Maxx (24) and P&C (27). The biggest losers were New Yorker (97) and Primark (110).



Fit on Fifth. As luxury retailers, brands and fast fashion chains like Henri Bendel, Calvin Klein and Gap flee New York’s high-priced Fifth Avenue, the once so luxurious shopping area has started to attract activewear labels. Last week, Puma opened its 1,700 m2 New York flagship on Fifth Avenue at 49th street, Lululemon recently moved to a 1,900 m2 space at 48th Street, and Under Armour has a new flagship under construction.





markets

Gettin' bodied. Sports brands in the US might benefit from the fact that the number of unmarried 25-44 year-old women in the country is projected to rise from about 41 percent in 2018 to 45 percent in 2030. After all, single females have been found to spend more time working out than married ladies.



Peace, please! The announcement to withdraw the controversial extradition bill by Hong Kong CEO Carrie Lam has the luxury market cheering. European premium companies like Cartier-owner Richemont, which were strongly affected by the months-long violent protests in the region, have already seen their shares go back up.





people

Todorovich comes... As part of its ongoing transformation, Neiman Marcus has named Ralph Lauren’s former president of North American wholesale, Lana Todorovich, as its new president and chief merchandising officer. Todorovich succeeds Jim Gold who left (paywall) the company in March. As reported, CFO Adam Orvos will exit Neiman Marcus in October.



...Luis goes... Following a disappointing quarter, CEO Victor Luis has left Tapestry Inc (formerly Coach). In addition to Coach, the company also owns Stuart Weitzman and Kate Spade, which currently performs below expectations. Luis’ duties have been taken over by Board Chairman Jide Zeitlin, who has been with the company since 2006.



...Arianna sues. Forever21, which is rumored to be close to filing for chapter 11 bankruptcy protection, has been hit with a $10 million lawsuit by Arianna Grande. According to court filings, the embattled fashion chain offered the US singer an endorsement deal which she refused. Forever21 then allegedly went ahead using a lookalike model and similar styling in at least 30 unauthorized images and videos.





last

Mourning Peter Lindbergh. German star photographer Peter Lindbergh, who stood out for his quest to free women from the terror of youth and perfection, has died. His passing was announced by his family on Instagram. The reason of death was not given. He was 74 years old. Social media are filled with tributes from models and celebrities, including Linda Evangelista, Meghan Markle and Diane Kruger.







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