Fashion
Zalando ads pre-owned trade to its platform
Customers can now shop and trade in pre-owned, or second-hand, fashion directly on the Zalando platform. The new service is being launched in a reduced number of markets for now. If successful it can be expanded to other countries
Retail Council of Canada and the Association of Footwear + Apparel Canada in partnership
According to both entities the aim of the new partnership is to work on building a united platform for the retail and supplier community, within the fashion category of footwear, apparel, and accessories
LVMH with 84% decline in net profit sees recovery in China
In the first half of the year, LVMH Moët Hennessy Louis Vuitton recorded revenue of 18.4 billion euros in the first half of 2020, down by 27%. Net profit was down by 84% in the period. However, the group already witness recovery in China
Joint statement from AAFA, FDRA, NRF, RILA, and USFIA on supply chains and Xinjiang
A group of US-based footwear, apparel, retail and fashion industries associations have issued a statement regarding the issues around suspects of forced labour in parts of the supply chain
Coronavirus driven lockdowns return to the US
Some US states such as California and Oregon are bringing back orders to lockdown as new cases of people infected with coronavirus continue to climb. Consumers in badly hit areas might not feel comfortable to visit stores
Nike, Zara and adidas are the most valuable fashion brands
The BrandZ top 100 ranking of the world’s most valuable brands, released by WPP and Kantar, listed the Germany-based brand as number one brand in the apparel category. Nike is followed by European-based brands Zara and adidas
RTW Retailwinds voluntarily files Chapter 11 Bankruptcy
As a result, the retailer expects to close a significant portion of its brick-and-mortar stores. Company expects to fully repay approximately 12.7 million US dollars in remaining loan outstanding
Richemont: quarter sales down by 47%
During the quarter under review, the group’s trading and operations were strongly impacted by Covid-19 and sales contracted significantly across all regions, channels and business areas, notwithstanding a 49% increase in China
The Feeting Room opens new store
The Portuguese-based project has opened its third store in Foz do Porto, in the north of the country. Dedicated to the promotion and commercialization of national and independent brands, The Feeting Room is focused on Portuguese Footwear brands
Messe Frankfurt France is providing a new digital platform
The organiser of the international textile fairs Messe Frankfurt France teamed up with Foursource to offer a digital platform for Fashion fairs: Apparel Sourcing, Avantex, Leatherworld, Shawls&Scarves, Texworld and Texworld Denim Paris
Informa cancels Las Vegas shows
Trade show organizer Informa Markets Fashion announced that it will cancel its Magic trade show events planned for Las Vegas in September, mentioning uncertainties related to the pandemic
Tod's: Diego della Valle denies sale and talks about recovery in China
The Chairman and CEO of the Italian premium fashion brand said he has no intention of selling the company. Diego della Valle says the brand is already seeing optimism in certain markets
Brooks Brothers files for bankruptcy
The two-century-old company filed for bankruptcy after taking the hit of the COVID-19 pandemic’s impact on clothing sales. Pandemic kept customers at home reducing the demand for suits and formal attire
New appointment to Richemont Senior Executive Committee
Philippe Fortunato has been nominated to head the fashion and accessories division of the luxury group, which includes brands such as Chloé, Dunhill or Montblanc, amongst others
Inditex wants 25% of sales online within 2 years
The Spanish group owning brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, wants online sales to represent over 25% of the total by 2022. This compares with 14% in financial year 2019-
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A study reflecting on the main global consumer trends and the key changes for the footwear industry.
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