Adidas' sale of Reebok could fetch 1 billion dollars

Image: Reebok x Victoria Beckham via Reebok As Adidas’ sale of Reebok enters its operational phase, the German sportswear giant could net just one billion dollars according to some estimates. That is almost 3 billion dollars less that its acquisition price in 2005, when it was purchased for 3.8 billion dollars. According to sources cited by Reuters, Adidas is ready to begin considering offers from next week. Interested companies could be Chinese groups in the same sector such as Anta Sports and Li Ning, the Korean Fila and Wolverine World Wide, an American player who already owns brands such as Merrell and Saucony, and produces footwear for Harley-Davidson and Caterpillar. Private TPG Capital, Sycamore Partners, Cerberus Capital Management and Apollo Global Management could also be contenders. In 2020, Reebok recorded a drop in sales of more than 19 percent, to 1.4 billion euros, far from the 3 billion euros in sales that the brand was making at the time of its move to Adidas. Better apart than together “After careful consideration we have come to the conclusion that Reebok and Adidas will be able to reach their growth potential by operating independently of each other. We will work diligently over the next few months to ensure a fruitful future for the Reebok brand and the team that supports it,” Kasper Rorsted, CEO of Adidas, said last February. “Adidas aims to sell Reebok on the basis of an EBITDA of over 200 million euros by 2025, with an annual growth in turnover expected at +10 percent,” wrote FashionNetwork. Adidas shares gained over 8 percentage points on the Frankfurt stock exchange after the announcement of strong growth in the first quarter and the upward revision of the objectives for the year. In the three months to March, Adidas recorded a net profit of 558 million euros compared to 31 million a year earlier (and not too far from the 632 million quarterly in 2019), with revenues of 5.3 billion, up 20 percent (including 43 percent growth for e-commerce) as 89 percent of its stores reopened. The performance in China was highlighted (+ 156 percent at constant exchange rates), while the USA and Europe recorded growth of 8 percent, with less than half of its stores open in Europe. Adidas forecasts sales to increase by about 20 percent against the 15-19 percent previously indicated. In the second quarter of the year sales are expected to grow approximately 50 percent thanks to new products and seasonal sporting events, such as the European football championships.
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Zara teams up with Fruit of the Loom for capsule collection

Spanish fashion giant Zara has teamed up with US fashion brand Fruit of the Loom to launch their first joint capsule collection. The collection takes inspiration from Fruit of the Loom’s classic styles with bright colours across a selection of t-shirts, sweatshirts with matching shorts and pants, and undergarments. “It’s an honor to collaborate with one of the world’s most prominent and innovative fashion brands,” said Karen Kendrick, Fruit of the Loom’s vice president of brand communications and creative services. “Zara’s use of our logo from the 80s and 90s, modernized with bright colors, is a wonderful tribute to the fun, optimistic spirit Fruit of the Loom embodies.” Prices of items in the capsule collection range from 19.90 dollars to 39.90 dollars.
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Bethany Williams wins BFC/Vogue Designer Fashion Fund

courtesy of the British Fashion Council - Bethany Williams The British Fashion Council has announced London-based fashion designer Bethany Williams as the 2021 winner of the BFC/Vogue Designer Fashion Fund. Williams wins a cash prize of 200,000 pounds, alongside bespoke mentoring to help take her business to the “next level”. Edward Enninful, editor-in-chief of British Vogue, European editorial director of Vogue, and chair of the Fund Committee, said in a statement: “Congratulations to Bethany Williams for receiving the BFC/Vogue Designer Fashion Fund for 2021. Bethany is an extraordinary talent who brings a depth to her process that is nothing short of inspirational. “On top of her substantial gifts as a designer, she has rethought the way her collections are made, working with women who are homeless or in prison, among others, using her business to bring training and support. She really is a marvel.” Williams was shortlisted for the 2021 prize alongside Alighieri, Asai, Chopova Lowena, Completedworks, E.L.V. Denim, Halpern, Kwaidan Editions, Olubiyi Thomas, Richard Malone and Supriya Lele, all of which will also receive a full mentoring programme through the BFC’s business support team. BFC/Vogue Designer Fashion Fund announces 2021 winner as Bethany Williams Caroline Rush, chief executive of the British Fashion Council, added: “Bethany’s brand is a real example of a sustainable and conscious business, and as a designer, she is constantly finding new innovative design solutions to sustainability. “All shortlisted designers deserved the prize, but the judging panel was particularly impressed by Bethany’s exceptional talent for using recycled deadstock and organic materials made in the UK and her ways of collaborating with communities and charities, aiming to shape the industry towards thinking more ethically. I cannot wait to see her business grow even more.” The BFC/Vogue Designer Fashion Fund was established in 2008 to celebrate “exceptional talent and to empower the designers to play their part in positive growth”. Previous winners include Wales Bonner, Molly Goddard, Mother of Pearl and Palmer//Harding, Sophia Webster, Mary Katrantzou, Peter Pilotto, Nicholas Kirkwood, Jonathan Saunders, Christopher Kane and Erdem. The Fund is part of the British Foundation, which brings all the BFC’s charitable infinitives under one umbrella, and receives the support of British Vogue, Burberry, Clearpay and Paul Smith. The 2020 BFC/Vogue Designer Fashion Fund cash prize was split across the six shortlisted brands for the very first time due to the Covid-19 pandemic. These were Alighieri, Charles Jeffrey Loverboy, David Koma, Halpern, Métier and Rejina Pyo.
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Video: Dior FW21 menswear campaign

In this video, Christian Dior has presented its colourful and vibrant FW21 menswear campaign designed by Kim Jones in collaboration with artist Kenny Scharf. Watch the video below. Video: Christian Dior via YouTube Photo credit: Dior, Facebook
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Tapestry reports 19 percent sales increase, returns to profit

Kate Spade, Business Wire Net sales at Tapestry Inc. totalled 1.27 billion dollars for the third quarter compared to 1.07 billion dollars in the prior year, representing a 19 percent increase. Commenting on the third quarter results, Joanne Crevoiserat, chief executive officer of Tapestry, said: “Through a sharpened focus on the consumer, we fueled new customer acquisition at Coach, Kate Spade, and Stuart Weitzman and delivered robust sales growth led by digital and China. Importantly, for the third consecutive quarter, we achieved operating income gains – compared to both FY20 and FY19.” The company said, gross profit totalled 912 million dollars, while gross margin was 71.6 percent on both reported and non-GAAP basis compared to prior year reported gross profit of 616 million dollars and gross margin of 57.4 percent. On a non-GAAP basis, prior year gross profit was 720 million dollars, while gross margin was 67.1 percent. Tapestry records gains in operating income and earnings Operating income for the quarter was 117 million dollars on a reported basis, while operating margin was 9.2 percent versus an operating loss of 685 million dollars and an operating margin of negative 63.9 percent in the prior year. On a non-GAAP basis, operating income was 183 million dollars, while operating margin was 14.4 percent, which compares to an operating loss of 32 million dollars and an operating margin of negative 2.9 percent in the prior year. The company added that net income was 92 million dollars on a reported basis, with earnings per diluted share of 32 cents compared to net loss of 677 million dollars with loss per diluted share of 2.45 dollars in the prior year period. On a non-GAAP basis, net income was 145 million dollars with earnings per diluted share of 51 cents compared to non-GAAP net loss of 76 million dollars with loss per diluted share of 27 cents in the prior year period. Tapestry’s Q3 performance across core brands Net sales for Coach were 964 million dollars for the fiscal third quarter compared to approximately 772 million dollars in the prior year, representing an increase of 25 percent and a return to pre-pandemic revenue levels. Net sales for Kate Spade totalled 252 million dollars compared to 250 million dollars in the prior year, representing an increase of 1 percent, which included an impact related to a strategic pullback in lower margin wholesale disposition sales. The company further said that net sales for Stuart Weitzman were 57 million dollars compared to 51 million dollars in the same period of the prior year, representing a 13 percent increase. These results, Tapestry said, included the negative impact of a North America wholesale timing shift into the fourth fiscal quarter. Given Tapestry’s better-than-anticipated results year-to-date, and assuming a continued recovery emerging from the pandemic, the company now expects revenue for the fiscal year to increase at a mid-teens rate compared to the prior year. This outlook now includes the expectation for operating income and earnings per diluted to share to increase versus fiscal year 2019.
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Video: Louis Vuitton's 2021 summer twist bag collection

In this video, fashion house Louis Vuitton has presented its latest 'summer twist' bag collection with model Kaia Gerber as the ambassador. Watch the video below. Video: Louis Vuitton via YouTube Photo credit: Louis Vuitton, Facebook
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Silk: Can We Dethrone the Queen of Fibers?

Courtesy of Bolt Threads Silk is often called the “Queen of Fibers” known for being soft, supple, and lustrous. However, silk suffers from issues with its environmental footprint and animal welfare. Did you know that the Higg Index rates silk as the most environmentally damaging material used by the fashion industry based on factors such as global warming and water usage? Silk is considered one of the “thirstiest” materials - it is estimated that between 850 and 1000 tons of water is used in the production of one ton of raw silk. Further, many may be unaware that the majority of silk production relies on killing the silkworm to preserve the properties of the silk cocoon. Between 420 billion to 1 trillion silkworms are killed annually to produce silk. Perhaps it’s time for a cleaner, kinder Queen to take the throne. In order for the fashion industry to shrink their environmental footprint, and reduce or eliminate its reliance on animals to produce silk, the supply chain needs viable, sustainable alternatives to silk. Right now, the current generation of silk replacements are typically synthetic fibers such as polyester, nylon, and cellulosics such as rayon. However, these replacements are riddled with their own sustainability issues: namely reliance on fossil fuels and contribution to microplastic pollution for synthetics, and deforestation, water, land, and chemical use for many cellulosics. This is where “next-gen” materials can make a big impact. Next-gen silk innovations include: (1) Precision fermentation, where microbial factories are capable of creating real silk protein, without the animal. The vast majority of this innovation involves the spider silk protein, instead of the silkworm protein which comprises commercial silk fabric. One of the most influential players is Spiber, who created Brewed Protein™ that can create the proteins that form silk, as well as cashmere or wool. Other notable players include Bolt Threads, AM Silk, Seevix, and Spidey Tek™. (2) Tech which converts regenerative plants, plant waste, or algae into novel silk-like fibers. Notable players in this space include Orange Fiber, who extract cellulose from the waste of citrus juice processing, to create a soft regenerated fiber, SmartFiber AG, who include seaweed additives and zinc oxide in their cellulose-based lyocell fibers, and ENKA®, who makes a silky viscose derived from sustainably-sourced Northern European conifer trees. Each of these categories of technology are poised to have lower environmental footprints than animal-derived silk, or its current synthetic replacements. In order for these and future innovations to be successful, innovators need to know the performance factors for silk they should target, and scientifically, how silk fiber came to have these unique properties. Would you like to learn more about the ancient material that is silk, and the new wave of next-gen silk innovation? The Material Innovation Initiative will be publishing an upcoming report on “What Makes Silk, Silk?” that details the science behind silk’s luxurious properties, and the innovative strategies and opportunities to make animal-free, sustainable, high performance alternatives. Here are just some of the unique aspects of silk: -Silk is the only naturally occurring continuous filament fiber. -Silk is known for having some pretty powerful engineering properties, which academic researchers have been trying to replicate for decades. Silk, particularly spider silk, is even stronger than steel! -The unique luster, nearly a sparkle, that you see with silk fabrics, is due to silk’s unique microscopic structure - including that the fiber cross-section is naturally triangular in shape! -Silk has unique interactions with water. Sometimes this is a positive - like wicking away perspiration for comfort in warm weather, but sometimes it is a negative - like the damage that can sometimes occur to silk fabric that is laundered in a washing machine. -Notwithstanding that we should avoid farming wild animals, we actually can’t farm spiders for their silk because they are cannibals (who knew spiders could be even scarier than we thought!). The only way to make sufficient quantities of spider silk is with next-gen fermentation technology as described above. This deep dive into the science and innovation surrounding silk will be publicly available through Material Innovation Initiative (MII) in a few weeks. This article was written for FashionUnited by Sydney Gladman, Ph.D., Chief Scientific Officer at Material Innovation Initiative Courtesy of Bolt Threads (Microsilk)
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Global Design Graduate Show 2021 opens applications

The Global Design Graduate Show is returning for a second year to celebrate all art and design students, undergraduate and postgraduate, graduating in 2021. The showcase, launched by Artsthread in response to the Covid-19 pandemic cancelling end of year graduate showcases in 2020, is again teaming up with Gucci to highlight graduate talent. Last year’s event had 4,482 entries to the online showcase from 347 high-education institutions worldwide and received more than 147,000 votes cast in the public vote. To take part in the 2021 showcase, Artsthread is calling on all art and design students graduating in the Academic Year 2020-21, October 2020 to July 2021 in any related creative discipline, located anywhere in the world. Students have until August 31 to upload their end of year projects onto the Artsthread platform. Organisers are suggesting that the creative portfolio also features the personal creative journey, whether by photo or film, with a short self-curated Instagram stories style film to introduce the work “in your own words and visuals”. As with 2020, a team of independent judges will select a shortlist of creatives whose work will be displayed. The jury will then chose the winners and there will also be a public vote. The winner’s work will be showcased in October. Awards will be given in a variety of categories: fashion, textile and accessories; fine art, photography and journalism; visual communication, moving image and film; industrial, product, interiors and architecture; and ceramics, jewellery, glass and craft. Katie Dominy, co-founder of Artsthread, said in a statement: “Artsthread is immensely proud to be partnering with Gucci for the second year on the Global Design Graduate Show. We look forward to building on the success from last year, providing yet more opportunities for the artists and designers graduating this year.” 2020 fashion winners included: Womenswear - Florentina Leitner from the Royal Academy of Fine Arts, Antwerp; Menswear - Alex Wolfe from Central Saint Martins; Print and Embroidery - Quint Verhaart from the Willem de Kooning Academy; Knit / Weave - Emma Gudmundson from the Swedish School of Textiles; Sustainability - Anubha Sood from Parsons; and Sports and Denim - Emi Tanimura from London College of Fashion.
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Inditex launches AR game for Pull & Bear girls collection

Photo Credits: Courtesy of Pull & Bear Spanish apparel giant Inditex, which owns Zara, Zara Home, Massimo Dutti, Bershka, and Pull & Bear, has ventured into the world of gaming. Via its youth brand Pull & Bear, the company has launched ‘Pacific Game’, an augmented reality (AR) game available on Facebook and Instagram. The game forms a part of Pull & Bear’s ‘Pacific girls’ collection, launched in collaboration with Facebook’s Creative Shop, the brand said in a press release. By making the game available via Facebook and Instagram, the clothing chain hopes to reach Generation Z consumers in particular. Users can open the game via the front camera function on Instagram, embarking on a virtual journey from California to Tokyo. Pacific Game users then move their head to navigate between obstacles, and collect points on the way. Pacific Game is available on Pull & Bear’s official website and on the brand’s Facebook and Instagram pages. With the launch of Pacific Game, Inditex follows in the footsteps of luxury brands like Burberry, Balenciaga, and Louis Vuitton, and retail brands such as Adidas and Puma, that have introduced fashion to the world of video games over the past few years.
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Boohoo appoints Tim Morris as non-executive director

Boohoo Group newsroom Boohoo has appointed Tim Morris to the board as non-executive director, with effect from today. The company said, Morris will become a member of the audit, nomination, remuneration and risk committees on appointment. Simultaneously, after nearly four years on the board, Pierre Cuilleret steps down as a non-executive director. Commenting on the new appointment, Mahmud Kamani, group executive chairman, said in a release: “I am delighted to welcome someone of Tim’s calibre to the Group and look forward to his contribution. On behalf of the board, I would like to thank Pierre for his positive contribution to the group throughout his period of service.” Morris, the company added, is currently group general counsel company secretary at TalkTalk Telecom Group Limited, which was on the main list of the London Stock Exchange until March 2021 and which he joined prior to its IPO in 2010. He held similar positions at Carphone Warehouse Group PLC prior to its IPO in 2000 until 2015 during which time it merged with Dixons to create Dixons Carphone PLC. He is also a founding Partner of Freston Ventures Investments LLP, which invests in a number of private businesses including Five Guys Europe, in addition to various indirect private equity and investment funds. Morris is a Solicitor who worked in private practice before 2000 specialising in corporate finance. “I look forward to helping the group execute its strategy to become a leader in global fashion ecommerce and shaping a culture that creates value for stakeholders over the long term, particularly by adding increased independent oversight of risk management and corporate governance practices,” added Morris.
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Boohoo reports 41 percent revenue increase, earnings up 37 percent

Boohoo Group’s revenue for the year increased by 41 percent to 1.745 billion pounds, while adjusted EBITDA was 173.6 million pounds, an increase of 37 percent on the previous year. The company’s profit before tax was 124.7 million pounds, an increase of 35 percent, while adjusted diluted earnings per share was 8.67p, up 47 percent on the prior year and diluted earnings per share rose to 7.25p, an increase of 36 percent. Commenting on the company’s full year results, John Lyttle, Boohoo CEO, said: “FY21 has been a year of significant investment for the group as we build a platform for the future and I am very pleased to report a strong financial performance.” Review of Boohoo’s full year performance across markets The UK market accounting for 54 percent of revenue reported growth of 39 percent to 945.1 million pounds across all brands. Gross margin increased from 50.3 percent to 50.9 percent. While restrictions on movement and the effect of lockdowns in Europe impacted growth variably at different points in time across the continent, the company saw revenue growth of 30 percent to 244.7 million pounds across all brands and all major countries. Gross margin declined from 58 percent to 56.2 percent. The group’s highest territorial growth rates have been seen in the USA, as the brands’ momentum builds and market share increases. PrettyLittleThing, Karen Millen and BoohooMAN continued their growth, whilst Boohoo and NastyGal grew strongly too. Group’s USA revenue increased by 65 percent to 435.1 million pounds and gross margin improved slightly from 59.8 percent to 59.9 percent. Growth in the rest of the world was moderate at 16 percent to 120.4 million pounds and gross margin declined slightly from 55.8 percent to 54.9 percent. Boohoo expects FY22 revenue growth of around 25 percent The company said that revenue growth for the full year to February 2022 is expected to be around 25 percent at a group level, with newly acquired brands expected to deliver approximately five percentage points of this growth. Growth within the established brands remains strong and over the last two years the company has achieved a revenue CAGR of 42 percent. The company added that margins for established brands are expected to be in line year on year. Boohoo expects investment in newly-acquired brands to dilute the group’s overall adjusted EBITDA margin by 50-100bps, with the group’s adjusted EBITDA margin expected to be in the region of 9.5-10 percent for the full year. The group expects a higher adjusted EBITDA margin in the second half, reflecting investments in its scalable multi-brand platform. The group’s medium-term target of sales growth of 25 percent per annum and an adjusted EBITDA margin of around 10 percent remains unchanged. Photo credit: Boohoo Group media gallery
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Berghaus names new global brand director

courtesy of Pentland Brands Berghaus has appointed Charlie Pym as its new global brand director, responsible for the global product and marketing for the outdoor brand. Pym joins Berghaus from McLaren’s Pro Cycling programme, where he served as marketing director launching Team Bahrain McLaren. Before that, he was director of communications at Rapha and was managing partner at Saatchi and Saatchi where he led multi-disciplined teams encompassing consumer insights, brand strategy, communications planning and digital design. Commenting on his new role, Pym said in a statement: “I’m passionate about the outdoors and feel incredibly lucky to have a role that will inspire more people to see and feel the wonder that sits beyond their front door. It’s never been a better time for Berghaus, given the major shifts we’re seeing in the outdoor sector and beyond, so it’s a pivotal time to shape the brand’s future.” Penny Herriman, chief marketing officer at Pentland Brands, added: “It’s a really exciting time for Berghaus as more and more people have embraced the great outdoors. Charlie has a track record in being highly creative and innovative, often disrupting sectors to drive growth. We can’t wait for him to join.” Pym replaces Kev McFadyen, who was appointed global brand director for Speedo in November 2020. In addition, Janine Hearn has been named as the global head of brand for Berghaus, responsible for leading the marketing team as it develops and implements its communications activity to build awareness, engagement and demand for the brand in all target markets. Hearn will report to Pym. Berghaus is currently focused on a major long-term project to develop the next generation of ground-breaking products for the specialist outdoor sector through its renowned Extrem range. Alongside this work, Berghaus is also expanding its outdoor lifestyle offer, reflecting the increasing appeal of the sector among wider consumer audiences.
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Bridal retailer Kleinfeld names new executive vice president and COO

Image: Marissa Rubinetti, courtesy of Kleinfeld US bridal retailer Kleinfeld has named Marissa Rubinetti as its new executive vice president and chief operating officer. Rubinetti has over 20 years of experience in bridal and bridesmaid apparel, and was the former vice president and divisional merchandise manager for David's Bridal. In her new position, she will use her “proficiency in identifying customer preferences and forecasting consumer trends to increase profits and sales conversion at Kleinfeld”. “We are ecstatic to welcome Marissa to the Kleinfeld family,” said Kleinfeld co-owner and president Mara Urshel in a statement. “Marissa offers exceptional skills researching and anticipating sales trends, understanding markets and competitors, and a solid track record in using retail buying activities to effectively meet company directives.” Urshel continued: “We are very confident in Marissa and what she brings to the table to lead Kleinfeld into the next phase of the bridal business.”
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Global-e sets terms for initial public offering

Global-e, which provides brands and retailers with end-to-end localised cross-border e-commerce technology, has commenced its initial public offering on the NASDAQ. The Israel-based company plans to raise 360 million US dollars by offering 15 million shares at a price range of 23 to 25 US dollars. In addition, Global-e expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 ordinary shares at the initial public offering price, less underwriting discounts and commissions. Goldman Sachs and Co. LLC, Morgan Stanley and Co. LLC and Jefferies LLC are serving as lead book-running managers for the proposed offering. While Piper Sandler and Co., JMP Securities LLC, KeyBanc Capital Markets Inc. and Raymond James and Associates, Inc. are also serving as co-managers for the offering. Global-e makes selling internationally as simple as selling domestically by enabling and accelerating global, direct-to-consumer cross-border e-commerce. The technology firm works with more than 440 global brands and retailers across the US, Europe and Asia, including Marks and Spencer, Harvey Nichols, and Reformation.
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Westminster Menswear Archive to stage exhibition on face coverings

courtesy of the Westminster Menswear Archive Westminster Menswear Archive at the University of Westminster has announced a new exhibition revealing how face coverings have evolved in response to Covid-19 over the last 12 months. ‘Undercover – From Necessity to Luxury: The Evolution of Face Coverings during Covid-19’, opens on May 11, one year on from when the UK government first advised people to wear face coverings in enclosed public spaces and explores how evolved to being an everyday object. “The simple cloth face covering, which appears to be an unassuming and uncomplicated object, has quickly become a symbolic and contentious artefact,” explains the exhibition curators in a press release. The exhibition will explore how these ordinary objects have been transformed from their medical origins to become a highly desirable fashion accessory produced by companies ranging from BoohooMan, which was one of the earliest to be created in April 2020 to Louis Vuitton, selling a mask cover and matching bandana set for 350 pounds. courtesy of the Westminster Menswear Archive There are 52 unique face coverings included in the display, including Burberry, Raeburn, Adidas, Balenciaga, Ahluwalia, Liam Hodges, Mulberry, Christopher Kane, JW Anderson, Levi’s, Liberty, Manchester City FC, and Paul Smith. The masks will be displayed in chronological order to examine how rapidly the fashion industry adapted production, manufacturing, and online marketing to meet changing consumer demands, as well as how brands responded to support the global effort to produce PPE for medical personnel. The evolution of face coverings to be examined with new fashion exhibition Talking about the exhibition, Professor Andrew Groves, Professor of Fashion Design, said in a statement: “The rapidly evolving response by designers, as well as the ephemeral nature of the face covers produced, made this an exciting and challenging exhibition to curate. The objects only tell part of the story, as companies unable to rely on their usual supply chains pivoted their production to meet the unprecedented demand for this new product. “While a year ago, most masks might have seemed to be similar, over the last 12 months we have seen a divergence as consumers and brands have used their mask as a means of differentiating themselves from the masses. As is often the case with fashion, wealth, status, and access have resulted in this simple object rapidly evolving in terms of materiality, functionality, and marketing.” courtesy of the Westminster Menswear Archive Dr Danielle Sprecher, menswear curator at the Westminster Menswear Archive, added: “Collecting such a range of face coverings for this exhibition has enabled us to look closely at the different ways that the fashion industry has responded (or not responded) to the advent of this new accessory in the UK. It has been fascinating to track these developments through both online retail and in-store offerings. “Due to the nature of the Westminster Menswear Archive we have also been able to look at the historic continuity within menswear design of the use of face coverings. Generous funding from the University of Westminster Arts, Communication and Culture Research Community has meant that we have been able to acquire physical masks for the collection. This means we have been able to create a unique repository to reflect this extraordinary period.” Alongside the main exhibition will be a photographic presentation ‘Undercover. From Necessity to Debris: The Pollution of Face Coverings During Covid-19’ featuring 365 photographs taken over the last year of discarded face coverings in the street. The photographs aim to act as both an archive of highly disposable material culture and as a reflection on the environmental impact of our response to Covid-19. It will be curated digitally as 365 NFT’s (non-fungible tokens) available on OpenSea, the world’s largest marketplace for digital goods. ‘Undercover – From Necessity to Luxury: The Evolution of Face Coverings during Covid-19’ will run from May 11 to June 5, 2021. courtesy of the Westminster Menswear Archive
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Vince Holding Corp reports drop in Q4 sales, swings to loss

Image: Vince, Facebook Vince Holding Corp has swung to a loss in the fourth quarter of the year as sales at the New York-based fashion group dropped 28.4 percent. The group, which includes brands Vince, Rebecca Taylor, and Parker, reported sales of 74.8 million dollars in the three months to January 30 2021, compared to 104.4 million dollars a year earlier. Those figures reflected a 20.4 percent drop in Vince brand sales to 69.5 million dollars and a 68.9 percent decrease in Rebecca Taylor and Parker sales to 5.3 million dollars. The group reported a net loss of 5.7 million dollars for the quarter compared to a profit of 51.7 million dollars a year earlier. Sequential improvement driven by wholesale Despite the falling sales, the company pointed out it had made a sequential improvement on previous months. Chief financial officer Dave Stefko said in a release: “We saw sequential improvement in Vince during the fourth quarter led by our wholesale business. “Within the wholesale channel, retail sales continue to improve as we believe we are taking share within the contemporary luxury category. At Rebecca Taylor, the decrease in sales reflects a resetting of the brand including an elimination of one of our seasonal collections.” For the full year, group net sales decreased 41.4 percent to 219.9 million dollars, reflecting a 36 percent drop in Vince brand sales to 192.1 million dollars and a 62.9 percent drop in Rebecca Taylor and Parker sales to 27.8 million dollars. Net loss for the year was 63.9 million dollars compared with profits of 0.4 million dollars a year earlier. “As the world recovers from the Covid pandemic and life begins to normalize, we are excited about the future of our brands,” said group CEO Jack Schwefel. He continued: “Vince is distinctly positioned as a brand that embodies effortless sophisticated style. We will continue to leverage Vince’s brand equity and deep consumer connections to expand awareness and drive growth with an increased focus on the direct-to-consumer channel. “Rebecca Taylor also possesses a strong DNA and as we return to the brand’s heritage in a modernized way, we believe we can achieve a similar level of recognition that was recaptured by Vince.”
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Q&A with Yvonne de Bruyn, Fashion & Style Director for Consultancies at Peclers Paris

Photo credit: Peclers Paris How do you process trend forecasting? It is like Archaeology, but instead of unravelling the past we collect pieces of a puzzle called the Future. Driven by never-ending curiosity and fine-tuned intuition, we gather every sign providing us emotion and inspiration. By careful composition, considering major shifts in consumer values, we achieve our vision. It’s an intuitive process that reflects Peclers’s collective intelligence. What is your go-to source for trend spotting and inspiration? We have an internal source called Fashion Living Lab. All members of the Peclers community, not just designers, come together on a regular basis to share their inspirations freely. It shows how incredibly eclectic trendspotting can be: ideas come from cultural exhibitions, social media, historical references, vintage findings, personal memories and so forth. The most fascinating is the very singular angle brought to the table by each individual. For the FW21 season, based on the most recent collections which brand(s) do you think will thrive? Our team has appreciated the fast & sharp attitudes of Coperni, Atlein, and Alyx that express an urge for freedom of movement combined with body conscious confidence. At the very opposite, Bevza, Khaite and Ambush have shown soft columns with highly attractive protective appeal. “The hug” seemed to be a leitmotiv as well for the young designers of the Institut Français de la Mode (IFM Paris) that opened the Paris Fashion Week. “When in doubt, overdress”. Vivienne Westwood’s quote covered the concept of indulging in poetic, festive playfulness. The joy of getting dressed up even if nowhere to go was contagiously celebrated by Ottolinger, Collina Strada, and Blumarine. What’s in store for fashion and retail in 2021? Everything that is comfortable, but with stronger aesthetics than the pre-pandemic athleisure codes we were accustomed to. Clearly, life occasion dress codes have blurred between day & night, home & office and even more festive occasions. Dresses and knits will be best-in-class categories. Denim is about to make a full come-back. With the pandemic ongoing, how do you think digital fashion will avail? Social distancing has highlighted the importance of digital channels more than ever and the lockdown has elevated digital as an urgent priority across the entire value chain. Beyond the pragmatic aspect, it is a powerful tool to create immediate proximity and nourish the dialogue with the consumer. In the long term, the increasing part of sales through the digital channel will most certainly reshape dramatically the role of Retail from sales point to the physical incarnation of the Brand. How do you think the impact of Covid-19 has affected the fashion industry creatively? Creativity has generally gained consideration as a problem solver of today’s challenges. There is also an opportunity for the industry to reacknowledge the role of the Creative Director at the very heart of the brand: a curator composing singular aesthetic territories. Many designers have re-thought their creative process: aiming to bring sense and purpose to their creativity as well as to the industry, they express the need to break away from what they consider a hyperactive and anachronistic rhythm. A slower and more responsible tempo that will generate a leaner offer, lasting over traditional commercial cycles and remaining closer to “real” seasonality. A quest for authenticity that will resonate with consumer’s values if they are aligned with the brand’s values and actions. In parallel with slowing pace and offer optimization, ever more initiatives are taken to offer surprise and enchantment. Whether across brands like IKEA x Off White or Dior and Air Jordan, or through collaborations with artists like Urt Fischer at Louis Vuitton, these joined forces fuel energy, and offer unexpected brand expressions. Besides the homewear and eco-trend, which other two micro trends do you see occurring in the FW21 season? It is interesting that you refer to homewear and eco-trend as micro trends, we regard them as the very opposite! Homewear and intimates have now become the new fundamentals in our wardrobes. Besides their basic assets like comfort, they tap into deeper needs as the urge for protection, sensoriality, and self-care. On a completely different level, they can offer glamour and sensuality to our homely lifestyles, like the corset making a comeback in a playful retro version. When it comes to sustainability, it is no secret that a more responsible approach to fashion will be the next normal. From rethinking ownership to re-claiming the product sourcing and brands’ collective actions, new values are humanizing the fashion industry in a more conscious system under the pressure of new generations. Each brand has to define its mission, priorities and long term goals. Both the Covid-19 crisis and the shifting consumer values will turn fashion into an even more “winner takes it all” industry, where the gap between “the best and the rest” will widen, in means of sales results but also customer adherence. This is relevant for all levels in the market: fast fashion giants as Inditex and H&M constantly improve on raw fabric sourcing and circularity, designer brands as Ganni or Atlein consider sustainability is a given, Chloé expresses its ambition by emphasizing the eco-responsible vision of new artistic director Gabriela Hearst… Where do you think inspiration is coming from for fashion in FW21? I would like to end our exchange with a quote from our Inspiration Trendbook FW22-23: “No creativity without a purpose!”. In the past, creativity has been intimately connected with the search for desirable aesthetics in a frantic race for options and newness. Now, inspiration has become a part of a wider cultural conversation. Function and adaptability will be important sources. Our shifting relation to Nature as well, fueled by new found humility and the need for reconnection with its regenerating power. And of course the singularity of the creative mind, offering much needed spontaneity and enchantment. We would be most happy to get you inspired, do not hesitate to reach out for a tour in our Trend Books and Consultancies Services! Do you want to view FW21 clothing collections? Click here to explore the FashionUnited Marketplace.
http://dlvr.it/RyxVzC

Q&A with Yvonne de Bruyn, Fashion & Style Director for Consultancies at Peclers Paris

Photo credit: Peclers Paris How do you process trend forecasting? It is like Archaeology, but instead of unravelling the past we collect pieces of a puzzle called the Future. Driven by never-ending curiosity and fine-tuned intuition, we gather every sign providing us emotion and inspiration. By careful composition, considering major shifts in consumer values, we achieve our vision. It’s an intuitive process that reflects Peclers’s collective intelligence. What is your go-to source for trend spotting and inspiration? We have an internal source called Fashion Living Lab. All members of the Peclers community, not just designers, come together on a regular basis to share their inspirations freely. It shows how incredibly eclectic trendspotting can be: ideas come from cultural exhibitions, social media, historical references, vintage findings, personal memories and so forth. The most fascinating is the very singular angle brought to the table by each individual. For the FW21 season, based on the most recent collections which brand(s) do you think will thrive? Our team has appreciated the fast & sharp attitudes of Coperni, Atlein, and Alyx that express an urge for freedom of movement combined with body conscious confidence. At the very opposite, Bevza, Khaite and Ambush have shown soft columns with highly attractive protective appeal. “The hug” seemed to be a leitmotiv as well for the young designers of the Institut Français de la Mode (IFM Paris) that opened the Paris Fashion Week. “When in doubt, overdress”. Vivienne Westwood’s quote covered the concept of indulging in poetic, festive playfulness. The joy of getting dressed up even if nowhere to go was contagiously celebrated by Ottolinger, Collina Strada, and Blumarine. What’s in store for fashion and retail in 2021? Everything that is comfortable, but with stronger aesthetics than the pre-pandemic athleisure codes we were accustomed to. Clearly, life occasion dress codes have blurred between day & night, home & office and even more festive occasions. Dresses and knits will be best-in-class categories. Denim is about to make a full come-back. With the pandemic ongoing, how do you think digital fashion will avail? Social distancing has highlighted the importance of digital channels more than ever and the lockdown has elevated digital as an urgent priority across the entire value chain. Beyond the pragmatic aspect, it is a powerful tool to create immediate proximity and nourish the dialogue with the consumer. In the long term, the increasing part of sales through the digital channel will most certainly reshape dramatically the role of Retail from sales point to the physical incarnation of the Brand. How do you think the impact of Covid-19 has affected the fashion industry creatively? Creativity has generally gained consideration as a problem solver of today’s challenges. There is also an opportunity for the industry to reacknowledge the role of the Creative Director at the very heart of the brand: a curator composing singular aesthetic territories. Many designers have re-thought their creative process: aiming to bring sense and purpose to their creativity as well as to the industry, they express the need to break away from what they consider a hyperactive and anachronistic rhythm. A slower and more responsible tempo that will generate a leaner offer, lasting over traditional commercial cycles and remaining closer to “real” seasonality. A quest for authenticity that will resonate with consumer’s values if they are aligned with the brand’s values and actions. In parallel with slowing pace and offer optimization, ever more initiatives are taken to offer surprise and enchantment. Whether across brands like IKEA x Off White or Dior and Air Jordan, or through collaborations with artists like Urt Fischer at Louis Vuitton, these joined forces fuel energy, and offer unexpected brand expressions. Besides the homewear and eco-trend, which other two micro trends do you see occurring in the FW21 season? It is interesting that you refer to homewear and eco-trend as micro trends, we regard them as the very opposite! Homewear and intimates have now become the new fundamentals in our wardrobes. Besides their basic assets like comfort, they tap into deeper needs as the urge for protection, sensoriality, and self-care. On a completely different level, they can offer glamour and sensuality to our homely lifestyles, like the corset making a comeback in a playful retro version. When it comes to sustainability, it is no secret that a more responsible approach to fashion will be the next normal. From rethinking ownership to re-claiming the product sourcing and brands’ collective actions, new values are humanizing the fashion industry in a more conscious system under the pressure of new generations. Each brand has to define its mission, priorities and long term goals. Both the Covid-19 crisis and the shifting consumer values will turn fashion into an even more “winner takes it all” industry, where the gap between “the best and the rest” will widen, in means of sales results but also customer adherence. This is relevant for all levels in the market: fast fashion giants as Inditex and H&M constantly improve on raw fabric sourcing and circularity, designer brands as Ganni or Atlein consider sustainability is a given, Chloé expresses its ambition by emphasizing the eco-responsible vision of new artistic director Gabriela Hearst… Where do you think inspiration is coming from for fashion in FW21? I would like to end our exchange with a quote from our Inspiration Trendbook FW22-23: “No creativity without a purpose!”. In the past, creativity has been intimately connected with the search for desirable aesthetics in a frantic race for options and newness. Now, inspiration has become a part of a wider cultural conversation. Function and adaptability will be important sources. Our shifting relation to Nature as well, fueled by new found humility and the need for reconnection with its regenerating power. And of course the singularity of the creative mind, offering much needed spontaneity and enchantment. We would be most happy to get you inspired, do not hesitate to reach out for a tour in our Trend Books and Consultancies Services! Do you want to view FW21 clothing collections? Click here to explore the FashionUnited Marketplace.
http://dlvr.it/Rywxb5