Saturday, August 24, 2019

'The Fashion Forecasters': A closer look at the history of colour and trend prediction

BOOK REVIEW
Peering into the crystal ball and trying to spot the colours and shapes that consumers will swoon over in coming seasons is perhaps fashion‘s most obscure and fascinating occupation. The book, The Fashion Forecasters – A Hidden History of Color and Trend Prediction, seeks to demystify the ways in which trends develop by grounding the process through the lens of history, culture and business.
The 275-page book is surprisingly light on images for one forecasting trends in an industry so heavily dependent on visuals - but it makes up for their absence through its in-depth insights on the subject. The book analyzes fashion’s inner workings from a business perspective, claiming to be “the first historical study of colour and trend prediction in Europe, America and Asia”.

Shedding light on industry practices

Through deciphering the industry practice of forecasting, the book seeks to answer various tricky questions: Is producing fashion a spontaneous process or one prefabricated by a small group of people? Do trend forecasters predict trends or predetermine them, like a self-fulfilling prophecy? The book consists of seven academic essays using research based on the archives of trend studios, market researchers, colour forecasters and international trade fairs. It also includes five interviews with contemporary forecasters including WGSN and Stylesight, who shed additional light on current industry practices.

The chapters provide a thorough overview of how the profession has evolved over the past 100 years across countries and continents, including the US, Japan, and Sweden. While insightful, the overview might also feel lengthy at times, especially for those looking for a quick introduction, with each academic chapter initially rooting itself in its respective themes within research.
The structure of the book can seem loose at times as it looks at fashion production as a "collective creative process", attempting to to expound the myriad of ways in which trends are spotted, evolve, and manifest themselves within the industry. As well as covering the profession and activities of a trend forecaster, the book also examines correlations and institutions involved in the discovery and dissemination of trends – such as industry associations and trade fairs as Pitti Uomo and Interstoff.
In summary, the The Fashion Forecasters is a thoroughly academic book in its approach and style while still remaining readable to the larger fashion audience. But perhaps look elsewhere for a concise, how-to book on fashion forecasting.
’The Fashion Forecasters - a Hidden History of Color and Trend Prediction’, edited by Regina Lee Blaszczyk and Ben Wubbs, 275 pages, published by Bloomsbury, 49.99 US dollar.
Picture: Bloomsbury


* This article was originally published here

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Friday, August 23, 2019

How financial investor Permira polished Dr. Martens to a shine


The British may call them "Doc Martin's" and the Americans "Doc Marten's"; regardless of how you pronounce them, there is a good chance everyone will agree on this point: No boot in the world has ever managed to claim nonconformist and iconic adjectives over such a long period of time. There was no decade in the last almost sixty years of their existence that Dr. Martens boots did not travel the streets of the world. Of course, there were also worse phases (the brand’s most difficult time being in the late ‘90s) - but the label is now again at the forefront of fashion. Despite its longevity, the workwear style of these robust English boots has never lost its electrifying essence: It is both the indispensable companion of every self-confident goths, as well as a popular accessory of some of the biggest fashion figures, whether Kanye West or Nicki Minaj. Punk? Rock? Classic? Grunge? Male? Female? English? German? No matter: Dr. Martens is tough, above all.
And it was born twice. The first birth was an accident. A ski accident. In 1946, Dr. Klaus Märtens broke his foot while skiing. To speed up his recovery, the clever German physician invented and manufactured an air-cushioned sole, made from a car tire. The second birth took place 15 years later, when a family of English shoe manufacturers, the Griggs family, saw an ad by Dr. Maertens in a trade journal. In a flash of genius, Bill Griggs bought the design from the German inventor because he was convinced that this practical and comfortable sole would work wonders when used with professional shoe styles.

And so, in 1960, in the heart of the village of Wollaston in northern England, the first English factory of the company was started with the production of the famous model Dr. Martens 1.4.60 (the name was anglicized for marketing purposes). This was no April Fool's joke, even though the new owner would probably have laughed out loud had he been told that these working-class boots would become the favorites of rebellious teenagers the world over. Punks, rockers and goths, all wore Doc's. The metal cap, which adorned the front of some models to protect workers’ toes from falling pieces, was appreciated by hooligans in particular; you may guess why. In the early 1970s, the shoes were banned in British stadiums, and the caps have now been cancelled.
Model 1.4.60 is still in production today and its characteristics are unchanged: cherry red leather for purists, eight holes, grooved sole, black and yellow tongue with Bill Griggs' handwriting, visible seams and leather that is resistant to toxic liquids. All "Originals" models use the Goodyear technique that makes it possible to stitch most components of the shoe together with a single seam, thus minimizing the use of adhesives and adding to the firmness of the whole and the breathability of the foot.
Over the years, the boots changed hands several times as well as their place of production. A difficult financial situation in the late ‘90s forced Dr. Martens' parent company, the Griggs Group Limited, to relocate much of their production. Till today, a team still works in Wollaston on old machinery for styles from England that respect the original production process. In the year 2014, the brand was acquired for 380 million pounds sterling (380 million euros) by Permira investment fund, then owner of Hugo Boss and New Look. Permira worked wonders though: Since the acquisition, the shoe company has recorded excellent growth, sales have increased as well as the operating result. This year, too, the profit of the British brand rose by 70 percent. What happened?

E-Commerce, cooperation, vegan line: Dr. Martens' recipe for success

Since the re-conquest of the market in 2014, the brand almost tripled its sales and opened 60 stores around the world. This re-conquest took place in quite a classical way, thanks to strong allies like fashion designers and iconic figures of the English music scene. Collaboration with designer Marc Jacobs (who re-issued his Grunge collections of 92/93 with a lot of flair) and the Sex Pistols significantly contributed to the increase in sales. Another tool was the significant increase of the number of points of sale: The Group is supported by its network of 109 branches worldwide, and in the past year alone, Dr. Martens has opened around 20 new branches in Europe, the USA, Japan and China (Hong Kong). This international expansion has borne fruits: One third of the turnover comes from the domestic market, while revenues in Europe, the Middle East, Africa and the USA are increasing.
Especially one line makes this happen: The "vegan line” launched in 2016, for which the company has replaced the upper leather of the shoe with synthetic polyurethane plastic. The price of classic models ranges between 110 and 219 euros. These boots already account for four percent of total sales, which is significant. Permira has also not neglected e-commerce, which now accounts for 16 percent of the brand's revenue. This is a great achievement as it meant an increase in online sales of 67 percent in just one year. Thus, the company, which has been headed by Kenny Wilson (previously president of Levi's Europe) since last year, ends the year with a sales increase of 30 percent compared to the previous year. Sales now amount to to 486.35 million euros. Profit rose by 70 percent. In 2018, 8.3 pairs of Dr. Martens' shoes were sold. That is enough to make Permira happy. According to reports, the confident financial investor is said to already be working with investment bank Goldman Sachs to sell the brand for double its purchasing after polishing the boots quite nicely.
This article was originally published on FashionUnited.fr . Edited and translated by Simone Preuss.
Photo: Dr. Martens Facebook


* This article was originally published here

Thursday, August 22, 2019

Dick's Sporting Goods reports rise in Q2 same-store sales, raises outlook


Dick’s Sporting Goods reported consolidated net income for the second quarter ended August 3, 2019 of 112.5 million dollars or 1.26 dollars per diluted share, compared to 119.4 million dollars or 1.20 dollars per diluted share in the previous year. Net sales for the quarter increased 3.8 percent to approximately 2.26 billion dollars and consolidated same store sales increased 3.2 percent compared to 4 percent decrease last year.
“Our strong comp sales performance was driven by increases in both average ticket and transactions and represented our strongest quarterly comp since 2016. We saw growth across each of our three primary categories of hardlines, apparel and footwear, our brick-and-mortar stores developed positively and our ecommerce channel remained strong, increasing 21 percent,” said Edward W. Stack, the company’s Chairman and Chief Executive Officer in a statement.

Dick’s Sporting Goods H1 same-store sales up 1.7 percent

The company reported consolidated net income for the 26 weeks of 170.1 million dollars or 1.85 dollars per diluted share compared to 179.5 million dollars or 1.78 dollars per diluted share. On a non-GAAP basis, the company’s net income was 171 million dollars or 1.86 dollars per diluted share. Net sales for period increased 2.3 percent to approximately 4.18 billion dollars and consolidated same store sales increased 1.7 percent.
In the second quarter, the company opened two new Dick’s Sporting Goods stores and closed two. As of August 3, 2019, the company operated 727 Dick’s Sporting Goods stores in 47 states, 95 Golf Galaxy stores in 32 states, and 35 Field & Stream stores in 16 states.

Dick’s Sporting Goods raises full year outlook

Based on an estimated 90 million average diluted shares outstanding, the company currently projects earnings per diluted share to be approximately 3.30 dollars to 3.45 dollars. The company reported earnings per diluted share of 3.24 dollars for the 52 weeks ended February 2, 2019. Consolidated same store sales are currently expected to increase low single-digits, compared to a 3.1 percent decrease in 2018.
The company expects to open eight new Dick’s Sporting Goods stores and relocate three Dick’s Sporting Goods stores in 2019. The Company also expects to open two new Golf Galaxy stores and relocate two Golf Galaxy stores in 2019. Seven of the new stores are expected to open during the third quarter.
Picture:Facebook/Dick's Sporting Goods


* This article was originally published here

Wednesday, August 21, 2019

Plus-size womenswear retailer Avenue files for bankruptcy protection

New York – Plus-size womenswear retailer the Avenue announced earlier this month it will close its 222 stores nationwide.
As explained in a corporate release issued by the retailer’s designated liquidation advisers - Hilco Merchant Resources – the fashion company will shut all its stores across 33 states. Hilco is managing the liquidation with Gordon Brothers.
Avenue Stores, LLC, filed for Chapter 11 bankruptcy protection for the second time as back to2012, according to court records. In 2012, Versa Capital Management, a private equity company, acquired the retailer in a bankruptcy auction. At the time, there were 433 Avenue locations.
“Avenue shoppers will be amazed not only by the incredible savings, but also by the great selections and styles available at the closing sale," the company advanced in a press release. "Given the popularity of the brand and the seasonal trends, merchandise is sure to sell out quickly. We are encouraging consumers to shop early and take advantage of these offers.”


* This article was originally published here

Tuesday, August 20, 2019

In Pictures: Ellesse launches repositioning campaign


Italian sports fashion brand Ellesse has launched its new repositioning strategy with a new global campaign, ‘For the Win’ for autumn/winter 2019, featuring celebrities for the first time including Game of Thrones actor and musician Jacob Anderson and rapper Princess Nokia.
The campaign aims to reinforce Ellesse founder, Leonardo Servadio’s, vision that looking and feeling your best allows you to win regardless of outcome, and the campaign, created by global fashion and lifestyle agency Laird+Partners and fashion photographer Cass Bird seeks to “infuse the emotion and attitude back” into the iconic brand through its contemporary fashion and product point of view by combining “winning mindset, attitude and style”.

Ellesse global brand director Simon Breckon commented on the new positioning and campaign, said in a statement: “Collaborating with Laird+Partners, a hand-picked creative team, has enabled us to bring to life our founder’s vision of tailoring into sport, whilst elevating our style credentials. We have a tremendous heritage story that needs telling in a modern, compelling way. Built on style and attitude, ‘For The Win’ is energetic, expressive, and exudes confidence from the court to the street.”
‘For The Win’ is designed to heighten the brand’s fashion positioning, with the aim of showcasing Ellesse as more than just an outcome, but as a style, a confidence and an attitude, and the global talent featured were all chosen as they represent the “current cultural impact and embodiment of the Ellesse winning mindset,” added the Italian brand.

Alongside actor Jacob Anderson and rapper Princess Nokia is director and photographer, Margaret Zhang, US musician, rapper and songwriter Saint Jhn, Austrian model Stella Lucia and British model Kit Butler.
Commenting on the new Ellesse campaign ‘For The Win’, Trey Laird, chairman and chief creative officer, added: “We were really inspired by Ellesse’s archives and the rich history of the brand. Their legendary style DNA from the 60’s glory days of Italian Tennis and Ski sport gave us such a clear path to re-envision as a relevant message for a whole new generation.”

The campaign showcases Ellesse’s autumn/winter 2019 offering, which is divided into two central themes: ’Urban Tailored’ taking classic tailoring concepts and applying them to modern streetwear and ‘Urban Ski’, which pays homage to ski apparel’s influence on 80s and 90s streetwear, featuring form fitting, overstated colour ways alongside classic adaptations of the Ellesse logo.

Images: courtesy of Ellesse


* This article was originally published here