Sep
 19
 2019



Ulrike

Hello,

Welcome back to The Spin! Amazon plans to double its delivery lockers in the US, Stage Stores is going off-price, Destination Maternity is considering its own sale, and hip-hop icon Nicki Minaj is launching a Fendi collaboration. We also tell you, which luxury brand is currently counting the highest online traffic. Enjoy the read and - as always - feel free to share! Best, Ulrike



tech

Locker mania. To speed up its delivery service, Amazon will aggressively grow its Amazon Hub Locker network in the US, which currently counts fewer than 10,000 units. According to insiders, the US online giant plans to evaluate about 1,000 new locations every month for their suitability to host its orange pick-up lockers, with the goal to double the network within the next twelve months. Over in Japan, Amazon has partnered with FamilyMart and Odakyu to install it lockers at local retailers and in train stations.





brands

The final countdown. The creditors of bankrupt Gerry Weber International AG have approved (press release, in German) its insolvency plan, keeping the German fashion group alive. This clears the way for the restructuring concept. The insolvency court still has to confirm (paywall; translated by Google) that the conditions precedent stipulated in the plan. As reported, funds managed by Robus Capital and Whitebox Advisors will become sole shareholders of Gerry Weber International, previous shareholders are out.



Freestyling with Fendi. Following a tribute to Fendi in her 2018 song Chun-Li (video) and an Elle cover shoot (video) with Fendi’s then-creative director, the late Karl Lagerfeld, US hip-hop star Nicki Minaj is now launching a 127-piece collaboration with the French luxury brand. The sexy Fendi Prints On (paywall) collection features strong pinks and body hugging styles for women as well as mens and kids wear. It will launch in October.



Progress in pink. Following a strong dip in sales, Danish jewelry brand Pandora is preparing for a comeback with pink as its signature color. The 15-year-old company, which sells about 100 million pieces annually, has signed models Halima Aden and Georgia May Jagger and actress Millie Bobby Brown as brand ambassadors.





retail

Off to off-price. Amidst rising losses, the holding of Texas-based Stage Stores Group plans to close 40 of its various department stores and convert the remaining locations into its Gordmans off-price division by the third quarter 2020. Currently, the company operates about 625 Stage, Bealls, Goody’s, Palais Royal and Peebles department stores and 158 Gordmans locations.



Procreation decimation. Following disappointing Q2 results, US apparel chain Destination Maternity has started (press release) a strategic review, exploring a sale or merger. Due to previous store closures and a 10.5 percent drop (earnings call transcript) in comparable sales, Q2 revenues fell almost 12 percent to under 85 million.





markets

Clearing the Causeway. Following three months of violent protests and rallies, about 102 stores are now empty in Hong Kong’s famous luxury shopping district, Causeway Bay. That’s about ten percent of the 1,087 shops in the area. Since the sentiment continues to worsen, more than 600 stores could be affected next year, fueling rising unemployment rates.





last

Millennials for Michael. According to a report by ForwardPMX, ten brands account for 76 percent of all online traffic in the luxury category, with Michael Kors, Ralph Lauren and Louis Vuitton leading the pack. They are followed by Coach, Gucci, Chanel, Burberry, Hermès, Dior and Saint Laurent. At 20.3 percent, millennials now make up (paywall) the largest percentage of visitors. These consumers are less interested in a brand’s heritage and more in its prestige.







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