Saturday, February 6, 2021

Weekday launches jeans made from 100 percent post-consumer waste

H&M Group-owned brand Weekday has launched a limited-edition pair of its popular Rowe Jeans made of 100 percent post-consumer waste. Weekday teamed up with Infinited Fiber Company (IFC) to create the jeans made from a material comprising 50 percent organic cotton and 50 percent Infinna, which comes from 100 percent reborn textile waste. The Infinna-Rowe jeans, which are available on Weekday’s online store for the same price as the conventional model, can be recycled again in the same process together with other textile waste, according to H&M. “What makes Infinted Fiber Company’s technology unique is that it can turn textile, cardboard and agricultural waste to new a cotton-like material,” the Swedish fashion group said in a release. “The ground-breaking process makes it possible to recycle garments again and again without compromising on the quality, thereby creating a true circular fashion economy.” Weekday previously teamed up with IFC in 2019 when it became the first brand to create a garment using Infinna. “This time around, we wanted to scale up this concept and give a wider audience the chance to choose circular design and created a limited edition of our most popular women’s jeans fit Rowe, using a 50/50 blend of Infinna and organic cotton in a denim weave,” Weekday head of design Anna Norling said in a release. It comes as H&M continues to ramp up its investments in circular initiatives. Last week, the retail giant announced the expansion of its second-hand fashion platform Sellpy to the Netherlands and Austria following its launch in Germany in the summer. Photo credit: Weekday
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Quiksilver parent Boardriders announces new CEO

Action sports and lifestyle group Boardriders, whose portfolio includes brands Quiksilver, Billabong and DC Shoes, has named former North Face and Nike veteran Arne Arens as its new CEO, effective 1 March. Arens has spent the past ten years at VF Corporation, most recently as global brand president of The North Face. Prior to that, he spent eight years at Nike where he held several marketing and commercial roles and steered the company’s football business in Germany, Austria and Switzerland. He succeeds current CEO Dave Tanner who has been at the helm of the group since 2015 and led the restructuring and turnaround of Boardriders’ predecessor company Quiksilver as well as its merger with competitor Billabong in 2018. Tanner will remain on the company’s board of directors. “I am thrilled to be joining Boardriders not only for the opportunity to lead its portfolio of world-class brands in their next phase of growth, but also to work with its amazing and talented global team,” incoming CEO Arens said in a statement. “As a former athlete and avid boardrider myself, I appreciate the passionate communities, culture, and lifestyle our brands represent. And as an experienced action sports executive, I know this industry, its people, and markets and am certain the best is yet to come for our brands.” Photo credit: Quiksilver, Facebook
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Gender-neutral fashion: fluidity as freedom

Is gender-neutral fashion a future trend? Styles for Spring 2021 saw a growing number of major brands champion gender-fluid, unisex or polysexual fashions with Marc Jacob’s “Heaven” capsule and fluid collections from designers Balenciaga and Stella McCartney. “Marc has long been a believer that clothing itself is not inherently gendered, rather society norms have previously determined certain garments are for certain people, (we) see a great deal of hope in today’s youth, that these limiting ‘rules’ are increasingly no longer relevant, with a renewed courage to be oneself,” Eric Marechalle, the CEO of Marc Jacobs International told WWD in a recent report. A 2018 study by The Advocate found that 33 percent of those in Gen-Z identify as something other than exclusively heterosexual, the highest number of any generation up. A quick search on Tik Tok shows that the hashtag for polysexuality has almost 10,000 views and is still growing as content creators produce more videos surrounding polysexual identity and polysexual people. On Instagram, the hashtag has over 1,000,000 tags. Gender-fluid looks took over New York Men's Day SS21 During the most recent New York Men’s Day, gender-fluid fashion became one of the biggest highlights of the digital event. Apotts, Ka Wa Key, Official Rebrand, and Wataru Tominaga all presented gender fluid collections. Apotts' collection conveyed the message that regardless of race or gender, we can all enjoy playing dress up. For MI Leggett of Official Rebrand, gender-fluid fashion has never been a trend, but the entire antithesis of their brand DNA. This season, the designer, who identifies as non-binary and uses they/them/their pronouns, focused their collection on anti-waste urgency and social unrest throughout history. "> A voice for the voiceless through a prism of fluidity In many parts of the world, the LGBT and gender-neutral community is still met with hostility and violence. Gucci‘s global campaign Chime For Change released the short film ‘The Future is Fluid’ —which premiered during Sundance Film Festival 2019— as a companion to The Irregular Report, a biannual report on and by Gen Z. The voices in the film represent this generation’s tenacity, curiosity, empathy, optimism and hope, redefining and representing the world through a prism of fluidity. In the video, one Gen Zer expressed, “I hold myself responsible to continue advocating and fighting for the rights of trans and non-binary youth because I have the privilege to.” “If we start seeing this fluid approach we can start seeing all the barriers open up,” another Gen Z advocate added. In São Paulo-Pri Bertucci, CEO of the [SSEX BBOX] project, talks about inclusion and diversity in fashion >> Genderless fashion: East Asia’s social protest Avant-garde and genderless fashion has had a long heritage in Japan, pioneered by revered designers Comme des Garçons and Yohji Yamamoto. So it’s not surprising that genderless youth fill the street of Harajuka, the capital’s hub of subculture and streetwear trends. Since 2016, Tokyo’s youth movement has been rejecting ideas of fashion defining sexuality through make-up, clothes and Instagram filters that draws from Japanese anime's fluid beauty standards. In this documentary, i-D Magazine met the individuals behind Tokyo’s most boundary pushing scene. Yutaro told viewers, “sometimes I’m jealous of girls when it comes to fashion. They can wear trousers and skirts without being told off for wearing boy’s clothes.” A unisex girl, Satsuki, further stated, “since I started wearing genderless clothes, I’ve come to realise that your world-view can be totally changed through fashion.” "> According to Mintel, a London-based market research firm, in 2019 K-beauty exports have grown to 2.64 billion US dollars. Mainstream South Korean media constantly promotes the ‘perfect female appearance’ which usually includes a porcelain complexion, luxuriant long hair, lots of makeup, form-fitting dresses paired with stilettos. According to the NPR article, “South Korean Women 'Escape The Corset' And Reject Their Country's Beauty Ideals", women in the nation are rebelling with genderless fashion, cutting their hair and wearing no make up as a feminist protest against the patriarchal gaze. Photos: Pexels by Lhairton Kelvin Costa, courtesy of Agentry PR, Gui Gomes
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Friday, February 5, 2021

Video: Malaikaraiss FW21 collection

In this video, Berlin-based fashion brand Malaikaraiss has presented its FW21 collection at Copenhagen Fashion Week (CPHFW). Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Copenhagen Fashion Week via Vimeo Photo credit: Copenhagen Fashion Week
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Coach parent Tapestry posts 7 percent drop in Q2 sales

Coach parent Tapestry Net sales at Tapestry Inc. totalled 1.69 billion dollars for the second quarter compared to 1.82 billion dollars in the prior year, representing a 7 percent decline. Net income for the quarter was 311 million dollars on a reported basis, with earnings per diluted share of 1.11 dollars. This compared to net income of 299 million dollars with earnings per diluted share of 1.08 dollars in the prior year period. On a non-GAAP basis, net income for the quarter was 323 million dollars with earnings per diluted share of 1.15 dollars. Commenting on the company’s performance, Joanne Crevoiserat, Chief Executive Officer of Tapestry said: “For the second consecutive quarter, we generated strong operating income growth supported by a reduction in promotional activity and higher AUR, as well as disciplined inventory and expense management. Further, we delivered this profit growth in the face of unprecedented Covid-related external headwinds, including pressured bricks and mortar traffic, store closures and capacity limits, as well as higher freight costs and shipping constraints.” Review of Tapestry labels in the second quarter Net sales for Coach totalled 1.23 billion dollars for the second quarter compared to 1.27 billion dollars in the prior year, representing a decline of 4 percent. The company added that gross profit for Coach totalled 888 million dollars, while gross margin was 72.5 percent on a reported and non-GAAP basis compared to prior year gross profit of 877 million dollars and gross margin of 69.1 percent on a reported and non-GAAP basis. The company further said, net sales for Kate Spade totalled 376 million dollars for the second quarter compared to 430 million dollars in the prior year, representing a decline of 13 percent, which included the impact related to a strategic pullback in lower margin wholesale disposition sales. Gross profit for Kate Spade totalled 233 million dollars, while gross margin was 62.1 percent on a reported and non-GAAP basis compared to gross profit of 262 million dollars and gross margin of 61 percent in the prior year on a reported and non-GAAP basis. Net sales for Stuart Weitzman totalled 85 million dollars for the second quarter compared to 116 million dollars in the same period of the prior year, representing a 27 percent decline. Gross profit for Stuart Weitzman totalled 53 million dollars on both a reported and non-GAAP basis, while gross margin for the quarter was 62.2 percent. The company said, given Tapestry’s better-than-anticipated results in the fiscal first half, and assuming a continued recovery emerging from the pandemic, the company now expects revenue for the fiscal year to increase at a high-single digit rate on a 52-week basis and in the area of 10 percent on 53-week basis. This outlook continues to include the expectation for a topline inflection and strong bottom line growth during the second half of the fiscal year. Picture credit:Business Wire
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Video: Soeren Le Schmidt FW21 collection at CPHFW

In this video, Copenhagen-based fashion brand Soeren Le Schmidt has presented its FW21 collection at Copenhagen Fashion Week (CPHFW). Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Copenhagen Fashion Week via Vimeo Photo credit: Copenhagen Fashion Week
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Thursday, February 4, 2021

Quiksilver parent Boardriders announces new CEO

Action sports and lifestyle group Boardriders, whose portfolio includes brands Quiksilver, Billabong and DC Shoes, has named former North Face and Nike veteran Arne Arens as its new CEO, effective 1 March. Arens has spent the past ten years at VF Corporation, most recently as global brand president of The North Face. Prior to that, he spent eight years at Nike where he held several marketing and commercial roles and steered the company’s football business in Germany, Austria and Switzerland. He succeeds current CEO Dave Tanner who has been at the helm of the group since 2015 and led the restructuring and turnaround of Boardriders’ predecessor company Quiksilver as well as its merger with competitor Billabong in 2018. Tanner will remain on the company’s board of directors. “I am thrilled to be joining Boardriders not only for the opportunity to lead its portfolio of world-class brands in their next phase of growth, but also to work with its amazing and talented global team,” incoming CEO Arens said in a statement. “As a former athlete and avid boardrider myself, I appreciate the passionate communities, culture, and lifestyle our brands represent. And as an experienced action sports executive, I know this industry, its people, and markets and am certain the best is yet to come for our brands.” Photo credit: Quiksilver, Facebook
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Video: Church’s FW21 menswear shoe collection

In this video, British label Church’s has presented its FW21 menswear shoe collection at Milan Fashion Week in a short film format. Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Vrai Magazine via YouTube Photo credit: 10 Magazine, Facebook
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Video: Spyder FW21 collection

In this video, American brand Spyder has presented its menswear and womenswear FW21 collections at Milan Fashion Week. Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Vrai Magazine via YouTube Photo credit: Leon Stiglitz, Facebook
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Wednesday, February 3, 2021

Video: MTL Studio FW21 collection

In this video, MTL Studio has presented its FW21 collection in a fashion film format at Milan Fashion Week. Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Nelson Corallo via YouTube Photo credit: MTLstudio matteolamandini, Facebook
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Video: Dalpaos FW21 collection

In this video, Italian label Dalpaos has presented its FW21 collection at Milan Fashion Week. Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: IMAXtree.tv via YouTube Photo credit: Nicola Caracashoff, Facebook
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Video: MTL Studio FW21 collection

In this video, MTL Studio has presented its FW21 collection in a fashion film format at Milan Fashion Week. Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Nelson Corallo via YouTube Photo credit: MTLstudio matteolamandini, Facebook
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Tuesday, February 2, 2021

Video: Vaderetro FW21 collection

In this video, Vaderetro has presented its FW21 collection in a film format at Milan Fashion Week. Watch the video below. Do you want to see more FW21 clothing collections? Click here to view the FashionUnited Marketplace. Video: Vrai Magazine via YouTube Photo credit: Vaderetro, Facebook
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The Children’s Place names Robert Helm as new CFO

The Children’s Place, Inc. has appointed Robert “Rob” F. Helm, senior vice president, finance & inventory management to Chief Financial Officer effective April 1, 2021. The company said, Helm replaces Michael Scarpa, age 65, who has decided to retire from The Children’s Place effective March 31, 2021. Helm will report to Jane Elfers, the company’s President and Chief Executive Officer. Commenting on Helm’s appointment, Jane Elfers said: “Rob is involved in all aspects of the business and has been instrumental in helping to navigate the company throughout the Covid-19 crisis. I have confidence in Rob’s ability to seamlessly transition to the CFO role and to continue to partner with me to create value for our shareholders.” Helm, 41, joined The Children’s Place in 2016. The company added that he has taken on roles of increasing responsibility over the past few years in preparation for the chief financial officer role, including his appointment as principal accounting officer in November 2018, and culminating in his appointment as senior vice president, finance & inventory management in November 2019. In his new role, Helm will take on added responsibility for internal audit. Prior to joining The Children’s Place, Rob held senior finance and accounting roles at Ralph Lauren, Fresh Direct, and Rag & Bone. Picture:Facebook/The Children's Place
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Ex-Nike executive Emma Minto joins Crocs as SVP and GM Americas

Crocs, Inc. has announced that Emma Minto was hired as Senior Vice President and General Manager, overseeing all operations for the brand’s Americas region. Minto, the company said, was formerly at Nike, where she spent 16 years in a range of leadership roles for the footwear giant, most recently as vice president and general manager of Nike Women’s, North America, where she drove integrated brand, product and go-to-market strategy for the women’s running, training and sportswear categories. “I am thrilled to welcome Emma to the Crocs team at this very exciting moment for the brand,” said Michelle Poole, Brand President. “Her strategic mindset, consumer orientation and leadership style will be a terrific fit for Crocs and a great addition to our senior leadership team.” The company added that Minto joins at a time of tremendous momentum and growth for Crocs. The brand recently announced that 2020 revenue will be the strongest in its history, with expectations for full year 2020 sales to grow more than 12 percent to a approximately 1.38 billion dollars, up from a previous range of 5 percent to 7 percent growth. Further, Crocs is predicting revenue growth of 20 percent to 25 percent in 2021. Prior to her position as vice president and general manager of Nike Women’s, North America, Minto was vice president, Nike Direct global retail operations, responsible for global real estate, construction, retail operations, risk and control and service excellence across a 1,200 store-owned fleet. In addition, Minto provided leadership in several critical roles across the country and globe, supporting various lines of apparel and footwear. “Anyone paying attention knows that Crocs’ brand and business have never been stronger, and there’s plenty of room for continued growth,” added Minto. Picture credit:Crocs Inc.
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Monday, February 1, 2021

All you need to know about Dr. Martens’ IPO

Beloved boot brand Dr. Martens offered some cheer to battled trading floors on the last Friday of January when it launched its initial public offering (IPO) on the London Stock Exchange. Here is everything you need to know about the second fashion IPO of 2021. “We have been delighted by the strong levels of interest, engagement, and support from such a high quality selection of institutional investors,” said CEO Kenny Wilson in the offer-price announcement. It’s worth recalling that Permira, owner of the brand, had been exploring options for offloading Dr. Martens since mid-2019. The private equity fund announced its intention to float Dr. Martens on January, 18. After the IPO, Permira still owns 75 percent of the boot maker’s equity. Dr Martens enters London Stock Exchange * Dr. Martens has operated as a private company for eight years, since Permira acquired it for 300 million pounds. * The company’s group revenue rose 18 percent in the six months ended September, 30. * Dr. Martens will trade using the ticker DOCS and it will be listed on the London Stock Exchange. * The company had priced its initial public offering at between 330 pence and 370 pence apiece. The pre-listing reached the top of its announced range, and then seeing an immediate 17 percent bump while London’s FTSE opened in the red. * The offer price of 3.70 pounds (or 5.06 dollars) per share meant Dr. Martens started the trading day with a market capitalisation of about 3.7 billion pounds. * 35 percent of Dr. Martens’ issued share capital was on offer, at a total offer size of 1.295 billion pounds. That’s 350 million shares going into the IPO—mostly from IngreLux, a Luxembourg-based firm owned by funds that are advised by private equity outfit Permira. * The stake of the Griggs family, who sold Dr. Martens to Permira for in 2013 but retained a 10 percent shareholding, is worth 129 million pounds of the windfall. * The IPO was 8x times oversubscribed, making it the biggest UK IPO since e-commerce firm THG’s September flotation, which raised 2.4 billion dollars, as per Yahoo!Finance’s data. * Dr. Martens’ shares’ regular trading on the London Stock Exchange will start on February, 3, once institutional investors have had their chance to invest in the company. * If there is sufficient demand, highlight analysts eyeing the stock, Dr. Martens’ investors have the option to sell a further 52.5 million shares, which would put 40 percent of the company’s issued share capital in public hands once the IPO is complete. Interested in working at Dr Martens? Click here >> Photo: Dr Martens Facebook
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JD Sports to buy American footwear player DTLR Villa

JD Sports Fashion Plc has entered into a conditional agreement for the acquisition of 100 percent of DTLR Villa LLC, an athletic footwear and streetwear retailer based in Baltimore, Maryland. The company said in a statement that total cash consideration for the acquisition is 495 million dollars, of which approximately 100 million dollars will be used to repay existing indebtedness of the company. Commenting on the acquisition of DTLR, Peter Cowgill, Executive Chairman of JD Sports Fashion Plc, said: “ Like Shoe Palace, DTLR pride themselves on the deep connection they have with their consumers and the active role they play in the communities that they serve. As such, we intend to retain the DTLR Villa fascia and its proposition.” The company added that DTLR management team, headed up by Glenn Gaynor and Scott Collins, who will be continuing in their roles as Co-CEOs, will also be reinvesting a portion of their proceeds back into DTLR in exchange for a new minority stake of approximately 1.4 percent. The acquisition of DTLR, will enhance JD’s presence in the north and east of the United States complementing its existing JD and Finish Line as well as the recent acquisition of Shoe Palace which is based on the West Coast. In the 52 weeks ended 1 February 2020, DTLR delivered an EBITDA of 45.6 million dollars. After recognising a charge for depreciation and amortisation of 24.7 million dollars and net funding costs of 19.3 million dollars, DTLR delivered a pre-tax profit of 1.6 million dollars. Currently majority owned by BRS & Co. and Goode Capital, DTLR was established in 1982. Originally named Downtown Locker Room, the company later re-branded as DTLR and, in 2017, merged with Sneaker Villa Inc, previously based in Philadelphia. DTLR currently operates from 247 stores across 19 states, principally in the north and east of the United States. Picture:Facebook/DTLR Villa
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Asos acquires Arcadia labels for 265 million pounds

British online retailer Asos has announced the acquisition of Topshop, Topman, Miss Selfridge and HIIT brands for 265 million pounds. The company said that the transaction is fully cash funded from existing cash reserves. Additionally, Asos will purchase 30 million pounds of stock upfront to support initial trading before these brands are migrated into the normal working capital cycle. Commenting on the development, Nick Beighton, Asos CEO, said in a statement: “ The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy. We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world.” Topshop, Selfridge and Arcadia other labels to strengthen Asos portfolio The company said: “These are strong brands that resonate well with our core customer base. Brand equity is strongest in the UK and they have an established presence in both the US and Germany, two of our key strategic markets.” The company added that these acquired brands will join its Venture Brands portfolio alongside others including Collusion, AsYou and Reclaimed Vintage. Asos plans to maximise the opportunity for the brands global distribution and its international warehouse infrastructure and localised online experiences will support continued growth through the company-owned platform. The company also aims to increase the brands’ reach and accelerate US strategy via partnership with Nordstrom in this key market. In 2019, before impact of Covid, the brands delivered total revenues of approximately 1 billion pounds across all channels and despite business and supply challenges over the last year, the brands continued to grow through online and retail partnership channels, with total revenues in 2020 of approximately 265 million pounds as brand sales via retail partners grew 16 percent and brand online sales grew 5 percent, while growth on Asos platform has been at 41 percent in P1 FY21. Asos to focus on new brands’ integration in FY21 In FY21, Asos expects any incremental EBITDA to be offset by initial investment and ramp up costs as the focus would be on integration, engaging with retail partners and rebuilding stock to support trading plans. Additionally, the company expects to incur one-off restructuring and transaction costs of 20 million pounds. We anticipate incremental sales in FY22 to be broadly flat to FY20 acquired brand sales as the company focused on driving growth on our ASOS platform and through select strategic retail partnerships. The acquisition is expected to be margin accretive, with strong operating leverage given the relatively low incremental costs of operation once integrated onto the Asos platform. The company expects the transaction to deliver a double-digit return on capital (post tax) in the first full year. In the most recent 52 weeks ended August 29, 2020 Topshop, Topman and Miss Selfridge made an unaudited EBITDA loss of 1.8 million pounds across all channels. HIIT was a sub-brand of Burton, which Asos has chosen not to acquire. It is estimated that the brand generated a loss of approximately 0.4 million pounds across all channels.
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