Saturday, March 21, 2020

Pronovias Group supports engaged hospital staff worldwide

Pronovias Group supports engaged hospital staff worldwide

With the novel COVID-19 impacting all aspects of the world, many — including those planning to get married — have had to shift their lives and plans. And as hospital workers maintain their presence on the frontlines of the pandemic, global bridalwear label Pronovias will be showing its support for those employed in hospitals around the world by donating wedding dresses to brides-to-be.

According to an announcement from the company, Pronovias Group’s artistic director Alessandra Rinaudo has curated “The Heroes Collection” specifically for this time, which is a wide selection of wedding dresses for these brides. This program, which began in China at the beginning of the year, has already provided many nurses and doctors with gowns. Now, Pronovias is extending their support to hospital employees worldwide.

“Donating our wedding dresses to wonderful women is the least we can do to bring happiness and joy to their wedding day, making them look and feel their best,” Pronovias chief executive officer Amandine Ohayon said in a statement.

All hospital-employed brides-to-be who have assisted through the crisis of the pandemic are eligible for a free gown from now until Aug. 31, 2020. The collection will be available exclusively in Pronovias flagship stores around the world.

Image: Pronovias



* This article was originally published here

Friday, March 20, 2020

Li & Fung's 2019 turnover decreases, receives privatization offer

Li & Fung's 2019 turnover decreases, receives privatization offer Li & Fung Limited has said in a statement its core operating profit (COP) decreased by 22.9 percent to 228 million dollars for the year to December 31, 2019 due to reductions in turnover and margin pressure in the Supply Chain Solutions business. The company added that turnover decreased by 10.1 percent to 11.4 billion dollars due to continued destocking by customers, store closures and customer bankruptcies, as well as the company exiting a number of higher-risk and non-strategic customers. Net profit attributable to shareholders was 17 million dollars representing a return to profitability, while adjusted profit decreased by 43.9 percent to 74 million dollars. The company also announced that its board has received a proposal to privatise Li & Fung.
Commenting on the results, Spencer Fung, Group CEO of Li & Fung, said: “While our financials were affected by strong headwinds in the retail sector and global markets, we achieved important gains in our goal of creating the Supply Chain of the Future in our recently completed three-year plan. We are successfully transforming from a traditional, analog agent into a unique digital supply chain service provider. We now have a leadership position in 3D digital product development and are delivering a suite of value-added services to our customers.”

Review of Li & Fung’s annual trading

The company further said that its board of directors do not recommend the payment of a final dividend for the year based on the benchmark against profit attributable to shareholders for the year and also taking into account the economic uncertainties as a result of the COVID-19 virus outbreak. An interim dividend of 1 Hong Kong cent per share was paid by the company on September 19, 2019.
With strong demand for in-country logistics services, Li & Fung said, its logistics business turnover increased 3.5 percent to 1.2 billion dollars and COP increased 1 percent to 94 million dollars, driven by strong growth momentum in China, e-logistics growth, expanded relationships with core customers in the ASEAN region, and solid results in the new markets of Japan, Korea and India.
Commenting on how the COVID-19 outbreak is affecting global supply chains, Spencer Fung added: “We are working around-the-clock with our customers and suppliers during this period of deep uncertainty. Our teams on the ground across the world are actively supporting customers, just as we did during the US-China trade war to help address the disruptions to their business.”
A consortium of the Fung family along with Singapore-based GLP Pte Ltd., an investment management firm specializing in logistics, has offered 1.25 Hong Kong dollars per share to take the company private, the company said in a statement.
Picture:Li & Fung


* This article was originally published here

Thursday, March 19, 2020

Covid-19: How retailers in the UK and Ireland can learn from Italy’s online sales surge

Covid-19: How retailers in the UK and Ireland can learn from Italy’s online sales surge
As the fashion industry continues to feel the effects of the ongoing coronavirus pandemic, buying behaviours are changing, with many consumers going online to shop while they have limited access to physical stores.
Data emerging from Italy, which is considered to be several weeks ahead of the UK in terms of the advancement of the outbreak, suggests there could upcoming boom in online sales in the UK and Ireland. Between 24 February and 1 March, online sales of consumer products in the country soared by 81 percent compared to the same week last year, according to data analytics company Nielsen.
Ciaran Bollard, CEO and founder of Dublin-based e-commerce software firm Kooomo said retailers should prepare their online stores for these potential surges in customer traffic and make sure their business processes can cope.
“The impact of coronavirus on the global economy is accelerating the need to start delivering products to customers who cannot leave their homes,” Bollard said. “Retailers that have invested in omnichannel solutions and have in-store stock available online will help to ease the negative effect of no footfall on the high street. I know some retailers considering resupplying the main delivery warehouse with shop stock to help fulfil this demand.”

UK and Ireland prepare for surge in online orders

Bollard also advised retailers to be open and transparent with customers about any potential disruptions to deliveries. “Although this will put pressure on retailers, there are great opportunities for those that rise to the challenge and hopefully the UK and Irish markets can learn from the situation unfolding across Italy,” he said.
“Where the supply chain is affected for home deliveries, customers are willing to have a longer delivery window to avoid going to stores. Therefore, we would advise retailers to make sure communications with customers are accurate and transparent, as it is crucial to ensure delivery timings on an online store are updated to avoid disappointment.”
The advice on transparency echoes guidance given last week by retail data company Edited which highlighted five strategies fashion retailers could implement to minimise the impact of Covid-19 on their businesses. Edited also this week published a podcast on the same subject with its analysis director Rebecca Milne.
Bollard continued: “This is an ever-evolving situation as the world is grappling to contain the virus and there will be few regions that won’t be affected by coronavirus, but some regions are more affected than others. Stockpiling and substitute stock supplies could be a helpful move to alleviate possible supply chain problems. Smart merchandising can also be used to help retailers focus on selling with lots of stock and no issues in the supply chain.
“Although it may take some planning and changing of existing processes, online retailers may be able to mitigate the serious financial losses that are affecting their businesses and negatively impacting national economies by using the latest e-commerce technology and responding proactively to this sharp rise in customer demand.”
Click here to see the latest updates on how the coronavirus effects the international fashion industry
Photo credit: Mentatdgt, Pexels


* This article was originally published here

Wednesday, March 18, 2020

Vegan Fashion Week charges forward with live stream event

Vegan Fashion Week charges forward with live stream event
In light of the cancelation of more fashion-related events such as the postponement of Los Angeles Fashion Week or the 2020 Met Gala, Vegan Fashion Week has held its plans to continue on. However, how the event will be held is taking a shift.
Vegan Fashion Week charges forward with live stream event
For the health and safety of those involved with the occasion, Vegan Fashion Week’s founder Emmanuelle Rienda will be shifting the format of the event to a streaming service, according to California Apparel News. Originally schedule for April 3 and 4 at The Void in Los Angeles—complete with a showroom, a panel series, and a fashion show—Vegan Fashion Week will be streamed online behind closed doors, without an audience present.
Vegan Fashion Week charges forward with live stream event
Due to the format shift of the event, Vegan Fashion Week will forego some of its scheduled events in order to push forth its mission and spread its message.
Vegan Fashion Week charges forward with live stream event
Image: Dale Arden Chong


* This article was originally published here

Tuesday, March 17, 2020

L Brands announces store closures, withdraws Q1 outlook

L Brands announces store closures, withdraws Q1 outlook To help limit the spread of the coronavirus, L Brands has decided to temporarily close all Bath & Body Works, Victoria’s Secret and Pink stores in the United States and Canada, effective March 17 through March 29, 2020. Additionally, the company said in a statement, home office associates have been asked to work from home if possible and all employees will continue to receive pay and benefits during the temporary closure period.

Due to the heightened uncertainty relating to the potential impacts of COVID-19 on the company’s business operations, including its duration and its impact on overall demand for merchandise, L Brand is also withdrawing the first quarter 2020 earnings guidance issued on February 26, 2020, where it expected adjusted loss per share of about 5 cents.

As a caution and proactive measure, on March 16, 2020, the L Brand decided to draw down 950 million dollars from its Revolving Credit Facility. After the drawdown, the company said, it has more than 2 billion dollars in cash.

Picture:L Brands resources



* This article was originally published here

Monday, March 16, 2020

Coronavirus causing fashion retailers to shut stores

Coronavirus causing fashion retailers to shut stores

A number of fashion and sportswear retailers, including Nike, Anthropologie, Urban Outfitters and Lululemon, have announced temporary store closures in light of the spread of the coronavirus (Covid-19).

Over the weekend, fashion and lifestyle retailer Anthropologie sent out an e-mail to its customers saying that it would be closing all of its global stores until at least March 28.

“As all of our thoughts are on the COVID-19 situation, we wanted to share an update on how Anthropologie and our partner brands Terrain and BHLDN are responding. The safety and health of our community, including our loyal customers and dedicated associates, is always of the utmost importance to us.

“As far as we know, none of our employees have tested positive for Covid-19. In an effort to protect our communities, we have decided to close all of our global stores. They will not reopen until at least March 28. We will continue to pay our store teams during this time. Because the situation is complex and evolving rapidly, our plans may change. If they do, we’ll let you know.”

Anthropologie, continued: “While we’ll miss seeing you in our stores, our website and app are always open (please allow us to provide a break from the news). We hope to bring you a touch of joy and inspiration in this difficult time.

“Look out for one another, and be well. We’ll see you soon.”

Urban Outfitters shuts stores globally

Urban Outfitters took to their Instagram to announce their store closures, stating that its global network would be “closed until further notice”.

"We’re proud to call ourselves a part of your local community, and our goal has always been to provide you with safe spaces to come together, laugh and be inspired,” explained Urban Outfitters in their Instagram caption. “While we work through these changes, know that we’re here to answer questions, keep you entertained, and to continue to engage with our UO Community however we can. Take care of yourselves.”

Lululemon confirms closures in North America and Europe

Sportswear brand Lululemon has confirmed the closure of all its stores in North America and Europe, from March 16 through March 27.

Lululemon chief executive officer, Calvin McDonald, said in a statement: “We are living in uncertain times and we’re learning more about this virus every day. We are taking this step to help protect our global community, guests and people, and ensure we are doing our part to prevent the spread of Covid-19.

“During this time, Lululemon employees will continue to receive pay for all hours they have been scheduled to work and have access to Lululemon’s Global Pay Relief plan.”

Retailers Nike, Anthropologie, Urban Outfitters and Lululemon among store closures to limit the spread of coronavirus

Eco-friendly footwear brand Allbirds took to its Instagram to explain that all of its stores in the US and Europe would be closed until March 27 and that its corporate staff would now be working from home. They added that all employees would receive full pay and benefits during this time.

The update from Allbirds co-founders Joey Zwillinger and Tim Brown said: “To our friends around the world, our thoughts are with you and your families during these uncertain times. Now more than ever, we can all appreciate just how small the world truly is, and the importance of coming together to protect out global community in times of need.

“Our online stores around the world are still open for business as usual, and we’re working closely with our suppliers to ensure their safety while we also fulfil your orders.”

3.1 Phillip Lim closes stores in New York, Los Angeles, London and Waikiki

Designer brand 3.1 Phillip Lim, also confirmed on Instagram that it would be closing its retail locations in New York, Los Angeles, London and Waikiki, and that its store teams would be available via email to help customers with their orders or purchases.

“It is essential that during this time, we restructure our practices and operate in accordance with the wellbeing of our colleagues and our global citizens,” said the company. “As we adjust to the new and challenging practice of social-distancing, we maintain our larger and constant mission of fostering community. We are taking all necessary precautions to assuage the potential spread of the coronavirus while continuing to act with love, empathy, and connectivity top of mind.”

Land’s End closes US stores until March 29

While Land’s End has stated that it will close all of its retail stores in the US until March 29, adding that it will continue to pay all of its retail employees for the hours they have been scheduled to work.

Land’s End said in a statement: “For the safety of our employees and customers, we have restricted international and domestic travel, instituted flexible work plans, including working remotely where available to encourage social distancing in our offices.”

Reformation to be available only on the “corona-immune” internet

Sustainable fashion brand Reformation said it didn’t want to “add to the stress” of Coronavirus and would be closing all of its stores “for now” and that all of its retail teams would be given paid time off. It also added that it was cancelling all events and factory tours.

In the Instagram post, the retailer said: “As it is a complicated situation, these plans might change, and if so we’ll let you know. We are closely monitoring what’s going on, and will follow recommendations from the WHO, CDC and NHS.

“As always, we’re available on the Corona-immune Internet.”

But the fashion brand also asked its customers what was “appropriate” content for it to be sharing, asking “what’s resonating with you? Do you still want to hear about new collection launches and sustainability related stuff? Old do you need a break? Please let us know.”

Sportswear giant Nike closes stores in the US, Canada, Australia, New Zealand and Western Europe

Nike announced on Sunday that it will temporarily close all of its stores in the US, Canada, Australia, New Zealand and Western Europe, from Monday, March 16 through March 27 “to limit” the spread of the coronavirus. Nike-owned stores in South Korea, Japan, most of China are currently open and will continue their normal operations it added.

Additionally, the sportswear giant has announced additional steps in other Nike-managed facilities, including the option to work from home, staggered work schedules, social distancing and additional safety and cleaning steps to “help protect and support our teammates”.

For more updates on how the coronavirus is impacting the international fashion industry here >>

Image: courtesy of Anthropologie



* This article was originally published here

Sunday, March 15, 2020

Superga releases second installment of collaboration with LoveShackFancy

Superga releases second installment of collaboration with LoveShackFancy

Footwear label Superga is continuing its partnership with vintage-inspired fashion brand LoveShackFancy with a new collaboration of colorful, floral print sneakers. According to an announcement from the company, this release follows the successful launch of its first collection with the womenswear label — which debuted in June 2019.

Superga releases second installment of collaboration with LoveShackFancy

The latest collection from the Superga x LoveShackFancy collaboration introduces platforms, espadrilles, as well as more styles for children. The latest drop also features new details such as bead threaded laces.

Superga releases second installment of collaboration with LoveShackFancy

“The LoveShackFancy girl is just as happy dancing on the beach in a ruff-mini skirt as. She is in a taffeta gown in the grandest ballroom, and she’s so free-spirited she’ll pair either with floral sneakers and still be the belle of the ball,” said LoveShackFancy founder Rebecca Hessel Cohen in a statement. “This season we introduced a dusty rose-colored espadrille with diaphanous floral laces and added a beaded moment to the classic sneaker in the prettiest prints.”

Superga releases second installment of collaboration with LoveShackFancy Superga releases second installment of collaboration with LoveShackFancy

The latest collection from the Superga x LoveShackFancy collection features seven styles for women and two styles for children on both brands’ websites. The collection ranges from 65 USD to 139 USD.

Superga releases second installment of collaboration with LoveShackFancy

Images: Superga Facebook, Courtesy of Superga



* This article was originally published here