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AAFA applauds House for passing Inform Consumers Act
The American Apparel & Footwear Association commended the US House of Representatives for its passage of the Inform Act and is encouraging the Senate to push forward the bill
Farfetch reports third quarter profit loss
The luxury online retailer posted a slight revenue increase of 1.9% and a GMV decline of 4.9% in the third quarter of 2022, year-over-year, lowering its guidance for the full year
Japan Retail: apparel and footwear retail will hardly remain safe amidst such troubling waters
The further easing of COVID-19 border control measures brought tourists back to the stores, but the anticipated consumption-led recovery is being curbed by the high wholesale inflation, as the weak yen is inflating the costs of imports. On the other end, if the yen depreciation is fostering exports, the fear of a global economic slowdown is a bearer of bad news. Both the Apparel & Accessories Retail and the Consumer Confidence indicator are currently trending down, and not to increase prices is no longer an option. As for online commerce, now that the pandemic boosting effect is over, the competitiveness between this channel and physical retail is at stake, however, it is yet soon to claim a winner
Amazon rebounds
The Seattle-based online retail giant returned to profitability in the third quarter of the current year, but it is preparing for a slower last quarter, most likely due to a weaker consumer demand
Zalando focuses on profitability
The e-tailer posted growth in the third quarter of 2022 amid a challenging macro-environment, underlining its focus on improving profitability. Active customers base exceeded 50 million this year
Germany Retail: after a surprising summer, retail might not be able to withhold the impacts of recession
The analysis of both TCF (Textile, Clothing, & Footwear) Retail Index and footwear imports show that German consumers chose “to enjoy the present before it is too late”. In July, retail trade was still healthy enough to accommodate the price increases caused, first, by the impact of the pandemic on the global supply, and then, by the skyrocketing of energy prices following the Ukraine crisis, not to mention the high inflation. However, given the free fall of consumers’ and retailers’ confidence observed since March, additional uncertainties are expected to arise throughout Autumn. Furthermore, despite all gains observed in the recent past, the online seems to be losing some track, and the macroeconomic environment will not be an ally during the second half of 2022
France Retail: news are not uplifting footwear retail
The Footwear Retail Sales Index (by BdF) reached in July its lower score in thirteen months in a row, and data from imports from the same month which will most likely make importers revise their decisions to the downside after the increasing value available for june. Despite a slight relief in consumer confidence in August due to Governmental aid, the increase in prices left little space in the wallet for discretionary footwear purchases. Meanwhile, online retail seems to have gained about 50 percentage points in 30 months in France, but data does not allow us yet to conclude whether the footwear segment shares this performance
GOAT Group acquires resale platform Grailed
The marketplace group has acquired Grailed, the resale platform for men's luxury, streetwear, and vintage fashion. This move will enable GOAT to accelerate its apparel and accessories categories' growth
Gucci appoints new CEO of its Vault and Metaverse Ventures
The luxury House has named Robert Triefus as CEO of Gucci Vault and Metaverse Ventures, the newly created division designed to scale and expand the brand's metaverse and gaming strategies
Zalando and Nike strengthen long-term partnership
The German-based online retailer announced a new step in its strategic partnership with Nike with the introduction of a new membership programme in ten European countries
UK Retail: the second quarter might have been the lull before the storm
Despite a 6 percentage points gain in the TCF (Textile, Clothing, & Footwear) Retail Sales Index in the second quarter of 2022, over the prior one, and a positive trajectory in footwear imports, prospects do not look good for retail. Amidst skyrocketing inflation and the worst consumer sentiment since 1974, the footwear consumer can barely afford further price increases, making the retail volume tilted to the downside. With the threat of a recession from the fourth quarter on, the majority of retailers believe that the cost-of-living crisis will be almost twice as damaging as the COVID-19 pandemic
Taipei Fashion Week partners with JOOR Passport
For a third season, the Taiwanese Fashion Designers will be featured in an exclusive event on JOOR Passport’s digital platform
Brazil: e-commerce represents 30% of the sales of the footwear industry
The statement comes from the Brazilian Footwear Industries Association (Abicalçados) and is the reflection of an increase in online sales, which was fuelled by the pandemic and the subsequent lockdowns
Ferragamo partners up with Farfetch to reach younger generations
The Italian luxury group is partnering up with the online luxury retailer to boost its digital innovations capabilities and "engage in conversation" with Millennial and Gen Z shoppers
Amazon's carbon emissions grew in 2021
The online retail giant reported an 18% increase year-over-year in planet-warming carbon emissions last year due to the surge in online sales during the COVID-19 pandemic-
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