VF Corp posts increase in Q4 sales and earnings

Image: Supreme website For the fourth quarter, revenue at VF Corporation, increased 23 percent or 19 percent in constant dollars to 2.6 billion dollars. Excluding the impact of acquisitions, revenue increased 16 percent, or 12 percent in constant dollars driven by VF’s largest brands, e-commerce growth and an increase in the APAC region. “I could not be more pleased with how our organization navigated fiscal 2021,” said Steve Rendle, the company’s chairman, president and CEO in a statement, adding, “Early in the year we took important actions to protect our people and the enterprise, while maintaining investments to drive our transformation and accelerate organic growth.” Fourth quarter highlights of VF Corp’s results Gross margin decreased 100 basis points to 52.1 percent, while on an adjusted basis, gross margin decreased 120 basis points, including a 60 basis point positive impact from acquisitions, to 52.7 percent. Operating income on a reported basis was 122 million dollars and on an adjusted basis, operating income increased 98 percent to 173 million dollars, including a 34 million dollars contribution from acquisitions. Operating margin on a reported basis increased to 4.7 percent. Adjusted operating margin increased 260 basis points, including a 100 basis point positive impact from acquisitions, to 6.7 percent. Earnings per share were 16 cents on a reported basis. On an adjusted basis, earnings per share increased 169 percent or 150 percent in constant dollars to 27 cents, including a 6 cents contribution from acquisitions. VF Corp’s full year financial performance Full year revenue decreased 12 percent or 14 percent in constant dollars to 9.2 billion dollars. On an adjusted basis, excluding the impact of acquisitions, revenue decreased 13 percent or 15 percent in constant dollars, driven by store closures and lower consumer demand as a result of the Covid-19 outbreak and related government actions and regulations. Gross margin decreased 260 basis points to 52.7 percent, while on an adjusted basis, gross margin decreased 220 basis points, including a 10 basis point positive impact from acquisitions, to 53.3 percent. Operating income on a reported basis was 608 million dollars. On an adjusted basis, operating income decreased 45 percent or 47 percent in constant dollars to 742 million dollars, including a 34 million dollars contribution from acquisitions. Operating margin on a reported basis decreased 220 basis points to 6.6 percent. Adjusted operating margin decreased 480 basis points, including a 20 basis point positive impact from acquisitions, to 8 percent. Earnings per share were 91 cents on a reported basis. On an adjusted basis, earnings per share decreased 51 percent or 54 percent in constant dollars to 1.31 dollars, including a 6 cents contribution from acquisitions. VF Corp expects 28 percent revenue growth in fiscal 2022 For fiscal year 2022, VF Corp said, revenue is expected to approximate 11.8 billion dollars, reflecting growth of approximately 28 percent, including an approximate 600 million contribution from the Supreme brand. By segment, revenue for outdoor is expected to increase between 23 percent and 25 percent; revenue for active is expected to increase between 34 percent and 36 percent; and, revenue for work is expected to increase between 10 percent and 12 percent. International revenue is expected to increase between 25 percent and 27 percent. By geographic region, in the EMEA region, revenue is expected to increase between 29 percent and 31 percent. In the Asia Pacific region, revenue is expected to increase between 18 percent and 20 percent. And, in the Americas (non-U.S.) region, revenue is expected to increase between 28 percent and 30 percent. Direct-to-consumer revenue is expected to increase between 38 percent and 40 percent, including Digital revenue growth of between 29 percent and 31 percent. Adjusted gross margin is expected to exceed 56 percent, which represents an estimated increase of more than 270 basis points. Adjusted operating margin is expected to approximate 12.8 percent, which represents an estimated increase of approximately 480 basis points. Adjusted earnings per share is expected to approximate 3.05 dollars, including an approximate 25 cents contribution from the Supreme brand. VF’s board of directors declared a quarterly dividend of 49 cents per share, payable on June 21, 2021, to shareholders of record on June 10, 2021.
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H&M launches swimwear collection from recycled polyester

Image: Courtesy H&M H&M is launching a swimwear collection made from 85 percent recycled polyester. The company said in a statement it is their most sustainable swimwear range to date. Launching online and in stores from early June, the collection features classic bandeaus, curved briefs and off-the-shoulder silhouettes. The fabrics used are made from a mix of pre-consumer recycled polyester from textile waste and post-consumer waste from recycled bottles. Maria Östblom, H&M head of design, commented: “I’m particularly proud of the fabrics in this swimwear collection, its our most sustainable swimwear collection thus far, and all of the designs are made of at least 85 percent recycled polyester. We are so please to offer inclusive sizing with this swimwear collection.” H&M did not confirm details of the factory origins where the items were made nor any details of workplace conditions.
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Submissions open for Tom Ford plastic innovation prize

Courtesy of Tom Ford Creatives are now able to submit their designs for the Tom Ford plastic innovation prize worth 1 million dollars. Tom Ford in partnership with 52HZ announced the competition in November 2020, to encourage artists to create a sustainable and biodegradable alternative to thin-film plastic. Judging considerations for the prize include the designs’ environmental and social impacts of production, product performance, scalability, cost, and biological degradation. In the fight against plastic pollution, Tom Ford created the first luxury timepiece made from 100 percent ocean plastic. Submissions for the prize are open online until October 24, with the winner announced in 2023.
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Armani returns to live fashion show audiences

Milan - More than a year after switching to virtual shows, Italian fashion house Armani announced Thursday the return of live audiences, starting with its Spring/Summer Men’s collection next month. The June 21 Giorgio Armani show will take place in Milan, while on July 6, the Giorgio Armani Prive fashion show will be held at the Italian embassy during the Paris Fashion Show for Haute Couture. “The return to live attendance has been decided following the current general improvement in public health with relation to the pandemic,” the group announced. It warned its plans could still change, however, depending on the rate of coronavirus infections going forward. “The organisation of the shows will comply with the distance and safety rules required by law and the actual holding of the events, in any case, will be conditional to the evolution of the pandemic,” it added. Armani is the first big Italian brand to announce the resumption of live audiences, just as it was also the first to give them up in February 2020 as coronavirus first swept Italy. (AFP)
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Asos reportedly interested in Cult Beauty and Feelunique takeover

Asos, Facebook Asos is reportedly one of the potential suitors for London-based online retailers Cult Beauty and Feelunique. Beauty has become an important focus for Asos and is an area the company has previously indicated its interest in expanding, Sky News reports. City sources have told Sky that Asos is yet to make a formal bid on either of the businesses and it’s expected the London-listed company would only pursue one. It’s understood that both Cult Beauty and Feelunique are working with advisers on the sale to capitalise on the huge demand for online beauty products during Covid-19. This news follows Asos’ latest earnings report that revealed sales for its beauty products increased by 114 percent.
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Ralph Lauren Q4 revenues increase, reports profit

Image: Ralph Lauren newsroom Ralph Lauren Corporation reported loss per diluted share of 1.01 dollars on a reported basis and earnings of 38 cents on an adjusted basis for the fourth quarter of fiscal 2021. This compared to loss per diluted share of 3.38 dollars on a reported basis and 68 cents on an adjusted basis, for the fourth quarter of fiscal 2020. For fiscal 2021, loss per diluted share was 1.65 dollars on a reported basis and earnings were 1.70 dollars on an adjusted basis compared to earnings per diluted share of 4.98 dollars on a reported basis and 6.56 dollars on an adjusted basis, for fiscal 2020. “This fiscal year, we fundamentally repositioned our company for long-term success – accelerating our digital and marketing capabilities, eliminating structural headwinds, focusing our brand portfolio and realigning our cost structure – all while continuing our brand elevation journey around the world,” said Patrice Louvet, president & chief executive officer. Q4 highlights of Ralph Lauren’s results In the fourth quarter, revenue increased 1 percent to 1.3 billion dollars on a reported basis and was down 3 percent in constant currency. North America revenue decreased 10 percent to 569 million dollars, including adverse impacts related to Covid-19 business disruptions across distribution channels. North America wholesale revenue was down 22 percent to last year. In retail, comparable store sales in North America were up 3 percent, including a 25 percent increase in digital commerce partly offset by a 2 percent decline in brick and mortar stores. Europe revenue increased 5 percent to 370 million dollars on a reported basis and decreased 4 percent in constant currency to last year. In retail, comparable store sales in Europe were down 45 percent, driven by a 65 percent decrease in brick and mortar stores partly offset by a 79 percent increase in digital commerce. Europe wholesale revenue increased 41 percent on a reported basis and 29 percent in constant currency. Asia revenue in the quarter increased 35 percent to 289 million dollars on a reported basis and 28 percent in constant currency. Comparable store sales in Asia increased 23 percent with a 21 percent increase in brick and mortar stores and a 59 percent increase in digital commerce. Gross profit was 783 million dollars and gross margin was 60.8 percent. On an adjusted basis, gross margin was 62.9 percent compared to 59.1 percent in the prior year period. Operating loss was 26 million dollars on a reported basis and operating margin was negative 2 percent. Adjusted operating income was 44 million dollars compared to adjusted operating loss of 43 million dollars for the fourth quarter of fiscal 2020. On a reported basis, net loss was 74 million dollars or 1.01 dollars per diluted share. On an adjusted basis, net income was 28 million dollars or 38 cents per diluted share. Full year review of Ralph Lauren’s performance For fiscal 2021, revenue decreased 29 percent to 4.4 billion dollars on a reported basis and 30 percent in constant currency, driven primarily by widespread Covid-related shutdowns and other disruptions throughout the year. For fiscal 2021, North America revenue decreased 37 percent to 2 billion dollars. Europe revenue decreased 29 percent to 1.2 billion dollars on a reported basis. In constant currency, revenue decreased 32 percent. Asia revenue increased 1 percent to 1 billion dollars on a reported basis. In constant currency, revenue decreased 2 percent. Gross profit for fiscal 2021 was 2.9 billion dollars on a reported basis and gross margin was 65 percent. On an adjusted basis, gross margin was 65.7 percent, 380 basis points higher than the prior year. Operating loss was 44 million dollars, while on an adjusted basis, operating income was 211 million dollars compared operating income of 632 million dollars for the prior year period. In Fiscal 2021, net loss was 121 million dollars or 1.65 dollars per diluted share on a reported basis. On an adjusted basis, net income was 127 million dollars or 1.70 dollars per diluted share. Ralph Lauren expects FY22 revenue increase between 20 to 25 percent For Fiscal 2022, the company expects constant currency revenues to increase approximately 20 percent to 25 percent to last year, on a 52-week comparable basis, while the 53rd week is expected to contribute approximately 140 basis points to revenue growth. The company expects operating margin of about 11 percent, an increase of approximately 620 basis points on a reported basis, while gross margin is expected to be down 40 to 60 basis points as mix normalizes. For the first quarter, revenues are expected to increase approximately 140 percent to 150 percent in constant currency to last year. Foreign currency is expected to positively impact revenue growth by approximately 250 basis points. Operating margin is expected in the range of 7 percent to 7.5 percent, while gross margin is expected to contract approximately 575 basis points to last year. The company also announced that its board of directors has reinstated its regular quarterly cash dividend declared 0.6875 cents per share for a total annual dividend amount of 2.75 dollars per share.
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Crocs collaborates with Hidden Valley Ranch and The Hundreds

Courtesy of Crocs Crocs is teaming up with Hidden Valley Ranch and community-based streetwear brand The Hundreds to create a dressing-covered shoe. The new collaboration was announced on May 19 during the “Ranch With What?” segment of “Family Style To Go” on the NTWRK app - a two-day virtual festival supporting local restaurants. The off-white-colored croc features green speckles, reflecting the Hidden Valley Ranch. Customers will also be able to dip in with Jibbitz charms. These include accompaniments of the ranch dressing like chicken nuggets, vegetables, french fries, and pizza. Courtesy of Crocs Crocs will donate 10,000 pairs of its Crocs At Work shoes to help hospitality workers that were heavily impacted by Covid-19. Also, in partnership with The Hundreds and Family Style Food Fest, a monetary donation will be made to the Independent Hospitality Coalition. A limited number of viewers were able to pre-order the Hidden Valley Ranch x Crocs design on the NTWRK app. While for others, the new collaboration will be available to purchase in late 2021 on the Crocs website.
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American designers unite as New York fashion week woos home talent

Image: New York Fashion Week New York Fashion Week is on a mission to re-boot and bring talent back to its native shores. As the only continent outside of Europe as part of the Big Four fashion season, New York has, rather admittedly, taken a back seat to the prowess of Paris, the polished machine of Milan and the excitement of new talent in London. New York offers contemporary fashion that hasn’t always resonated outside of America, compounded by the exodus of its biggest names showing abroad. In an attempt to woo back some of its star designers, who often show as guests on international fashion week schedules, brands including Moschino and Thom Browne are set to return and show on home turf. Also confirmed are Telfar, Rodarte, Prabal Gurung and Proenza Schouler. New York will be all abuzz this September with the Met Gala celebrating the opening of “In America: A Lexicon of Fashion,” which may be an extra incentive show closer to home. There has been a big push to retain American fashion talent back to the city’s official Fashion Week. IMG this month launched the Fashion Alliance in a bid to return brands to American soil and collectively show the world the importance of American fashion. Tom Ford, in a letter to the Council of Fashion Designers of America, wrote: “New York Fashion Week is always a celebration of American fashion, but this will take on a whole new meaning in September. After two challenging seasons with no in-person gatherings, we anticipate a significant return to live shows. This season’s shows are an opportunity to reaffirm the resilience and independence of American fashion and New York City as a global fashion force.Together, our talent and united front give American fashion its unique character and strength.”
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Fashion's green future of seaweed coats and mushroom shoes

Paris - From making algae-sequin dresses, dyeing clothes with bacteria to planting trackable pigments in cotton, an emerging tide of technological innovations offers the fashion industry a chance to clean up its woeful environmental record. Change is urgently needed, since the industry consumes 93 billion cubic metres of water per year, dumps 500,000 tonnes of plastic microfibres into the ocean, and accounts for 10 percent of global carbon emissions, according to the Ellen MacArthur Foundation. The growing demands for change have generated ingenious responses, such as New York designer Charlotte McCurdy’s seaweed raincoat. The shimmering algae-plastic she concocted in a lab made for a striking (and carbon-free) garment, even more so when she teamed up with fashion designer Phillip Lim to make a sequin dress. They are unlikely to show up in department stores. She sees them more as a way to demonstrate that decarbonised clothes are possible. “I’m not trying to monetise it. I just want to plant a seed,” she told AFP. “Material development is so slow and it’s so hard to compete with cellphone apps for funding. Frankly, I take climate change seriously and I don’t have time,” said McCurdy, whose focus now is on forming an innovation and outreach hub. Bacterial colours Others, like Dutch designers Laura Luchtman and Ilfa Siebenhaar of Living Colour, are finding ways to reduce the toxic chemicals and intensive water consumption of dyeing clothes. They found an unlikely ally in bacteria. Certain micro-organisms release natural pigments as they multiply, and by deploying them on fabric, they dye clothes in striking colours and patterns. The research is published freely online and the pair have no interest in mass-production. Luchtman, who previously worked in fast-fashion, saw “up close the negative impact of that industry in terms of exploiting people and ecological problems” and is determined to stay small-scale. Others, however, hope such ideas can infiltrate big business. Californian start-up Bolt Threads recently teamed with Adidas, Lululemon, Kering and Stella McCartney to build production facilities for Mylo, a leather made from mushroom roots. McCartney displayed her first Mylo collection in March, and Adidas has promised a Mylo sneaker by the end of the year. Business imperative Some experts are sceptical that such initiatives can lead to large-scale transformation. “Maybe some of these things will get a foothold in the industry, but the bar is very high for new approaches,” warns Mark Sumner, a sustainability expert at the University of Leeds School of Design. “It’s an incredibly diverse industry with thousands of factories and operators all doing different things. It’s not like the car industry where you only have to convince six or seven major companies to try something new.” Sumner sees the biggest impact coming from improving rather than replacing the existing systems and says pressure from consumers and NGOs means this is already happening. “Among responsible brands and retailers, this has genuinely moved away from being a fad. They are now considering sustainability as a business imperative,” he told AFP. Not that there are any right or wrong answers. The sustainability movement’s strength comes from many actors pulling in the same direction. “Many different strategies need to run together,” said Celine Semaan, founder of the Slow Factory Foundation which supports multiple social and environmental justice initiatives around fashion, including McCurdy’s algae-sequin dress. “Technology won’t resolve the issues on its own. It needs policy, culture, ethics,” Semaan said. Cotton tracing One area many see as a priority, however, is transparency, and here technology has a clear role to play. Such is the complexity of supply chains that “many companies have no idea where their garments are made, where fabrics come from, who provides their raw materials,” said Delphine Williot, policy coordinator for Fashion Revolution, a campaign group. Recent uproar over reports that cotton from China’s Xinjiang region was picked by forced labour was compounded by the difficulty of knowing where this cotton ended up. Beijing denies the allegations. Fibretrace, which won a sustainability award from Drapers magazine this year, offers a possible solution. It implants an indestructible bioluminescent pigment into threads. Any resulting garment can then be scanned like a barcode to find its origins. “You can’t find the environmental impact of anything unless you know where it was made,” Andrew Olah, Fibretrace’s sales director, told AFP. Combined with data sites like SourceMap and Open Apparel Registry that give companies unprecedented clarity on their supply chains, it has become increasingly hard to plead ignorance. “When you don’t share your supply chain, you either do it because you’re hiding something or you’re stupid,” said Olah. “There’s a lot of work to do,” he added. “But I’m very optimistic.”(AFP) Image: Ingo Foertsch
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Christine Boland’s trend analysis for SS22: A Summary

Christine Boland is a trend analyst with over 30 years of experience in discerning relevant currents in consumer behaviour. Especially for FashionUnited she will give a bimonthly insight into the most prominent trends and must-know new developments for the fashion bizz. As our new contributing author, she kicks off with a Trend Summary for Summer 2022. The turbulent times we live in churn up a great deal of uncertainty: a pandemic, polarization, a ‘phygital’ world, paradigm shifts... Resulting in a longing for a new way forward. Therefore, currently everything revolves around reinvesting meaning into things and the systems that surround us: a reset of the balance between man and nature, between man and possessions, and between people themselves. In a nutshell: a need for ‘SOULFUL SOLUTIONS’. And ‘when times are tough, art gets loud’. This means Summer 22 promises to become an inspiring alchemy of expressive imaginative powers, virtuality, nature and spirituality in which time-consuming traditional skills and practices co-exist with high-speed technology and hyper-realist colours. Within this frame are 4 distinguishing trends: #1 VALUE THE TRUE ESSENCE The pandemic has made people look to their own resources. For many their room to manoeuvre has been sharply curtailed metaphorically, psychologically and physically. We become increasingly aware of what is really important, resulting in a clear shift towards ‘less, but better’, from innovation to ‘unnovation’. For example: the perfect white shirt in crisp cool cotton beautifully made, the simplest white tiles applied in a new way and smoother than smooth polished wood. Second, the fact that hygiene and disinfection have become a set element to our daily rituals translates into ‘clean’ materials, clear colours and the hues of medical PPE and disinfecting UV light floating on a sea of white.  Within this trend the most important style aspects to take home are:  clear and minimalist elegance in design and imagery, functionality, plain natural fabrics, shadow effects and layering.  Colourwise it’s all about fresh white, lavender, surgical green, and band-aid beige.  #2 LIBERATE THE INCREASING DISCONTENT This trend is driven by the swelling dissatisfaction with the current world situation; global warming, racism and inequality. The time is ripe for a change in the system and for new norms in our attitude towards (over)consumption, pollution and raw materials. This ‘angry’ energy is released in a loud design language via pronounced and expressive art and unique personal statements. A colourful blend of slogans, vintage, historic and hyper-new elements, with handmade details. Reuse is the recurring refrain and recycling and upcycling remain firmly embedded. It is colourful and (almost provocatively) unconventional. Its style characteristics are:  handmade and expressive artworks and fabrics, urban vibes via denim, cotton and T-shirting, recycled materials, graphic patterns, and shapes and loud combinations.  Key colours are deep red, electric blue, all shades of green, and fresh coral. #3 IMAGINE A SPECULATIVE NEW WORLD  The limitations thrown up by the pandemic have unleashed an unprecedented surge of creativity and are mirrored in this theme. Resulting in a surrealist world of human fantasy and endless digital possibilities. For example, in the virtual world of gaming we’ve already seen the borders of reality blurring. Now the opposite is happening: in the analogue world a virtual-looking design language is merging. Either surrealistic or hyper-realist. At the same time nature proves a bottomless source of inspiration. Bioluminescence inspires new ways of lighting, whilst jellyfish become the models for new ruffles and volumes. Even the plastic soup on and in the ocean can be seen in the design language and colour scheme. The most apparent style elements within this trend:  unusual and surreal animal and plant inspired colours, silhouettes and details, (apparently) natural materials, and fluid versus sculpted designs and patterns.  Colour wise it’s all about vivid green, Mediterranean blue, cool pinks and purples contrasted with wine red. #4 CONNECT TO NATURAL INTELLIGENCE  During lockdown we witnessed nature perk up and relax. A clear and must-needed proof of man’s shameless one-way relationship with nature: depleting resources, threatening biodiversity and warming up the globe. But, we also have proof that it’s not too late. ‘Rewilding’ is this trend’s catchword, where indigenous and naturally living communities are the new influencers. Hence the growing popularity of plant-based restaurants, wild foraging and Urbano music. Nature itself is slowly but steadily making its way back into our lives: our houses are literally ‘greening up’ again and materials are created with nature’s assistance. The style features that characterize this trend are:  hand-crafting techniques such as knotting, weaving and braiding mixed with modern hightech materials, ancient patterns and structures, organic irregular shapes and vegan materials.  The key colours are warm yellows, brick and burned orange, deep plums, rainforest green with dark earthy tones. Curious for and in need of a more in depth report on the trends for next summer? Join Christine Boland’s LIVE TALK “Design Language Summer 2022” on May 27th 3 pm. Register now with this link! credits: Hugo Boss, Dolce and Gabbana, Miu Miu and Hermes SS21, Catwalkpictures
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Iconic model Naomi Campbell welcomes a baby girl at 50

British supermodel Naomi Campbell has become a mother of a girl, she said Tuesday in a surprise announcement on Instagram. "A beautiful little blessing has chosen me to be her mother," she wrote alongside a photograph of her hand cradling a tiny pair of infant feet. "So honoured to have this gentle soul in my life," she continued, adding that there were "no words to describe the lifelong bond that I now share with you my angel. There is no greater love." Campbell did not give more details. She had spoken previously about becoming a mother, telling the Evening Standard magazine in 2017 that "I think about having children all the time." But she added that "with the way science is I think I can do it when I want." Celebrities were quick to offer their congratulations. "Oh my God!!!!! Today is the day?? How absolutely incredible. How lucky she is and how lucky you are! What a wonderful Mother you will be. Blessings all around," wrote designer Marc Jacobs on Instagram. "oh my goodness congrats lady! What a blessing!!!" said actress Zoe Saldana. YouTube, where Campbell has launched her own channel, also chimed in. "Such beautiful news, massive congratulations Naomi," the video sharing site's official Instagram account posted. The jet-setting, barrier-breaking model still poses for magazine covers, in between charity and NGO work -- particularly in Africa -- and reality TV appearances. In 2019, when asked about children by WSJ magazine, she replied: "Not yet -- I'll see what the universe brings me."(AFP)
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Comfort is in: how a year in loungewear is shaping trouser trends

Everlane People are not ready to ditch the sweatpants - at least not entirely. As ordinances on social distancing and facial coverings begin to lift and people return to their pre-pandemic routines, clothing trends indicate that consumers prefer the comfort of the loungewear they had been wearing during lockdown. “Comfort became a key priority for people over the past year, and it’s not going to go away anytime soon,” Alison Stiefel, GM of ShopStyle, confirmed to FashionUnited. “There was no longer a need to style a full look [during the pandemic],” she continued. “With the prevalence of video calls, we saw consumers opt for products that could be worn from the waist up like hair accessories and blouses, leaving them to dress in loungewear from the waist down.” According to data from Edited, loungewear styles such as sweatpants and leggings have seen an uptick in arrivals by 34 percent and increase of 64 percent in products selling out. Now as life starts to return to normal, consumers are interested in keeping the comfort of their sweatpants - though they still want to look fashionable at the same time. According to ShopStyle’s insights, everyday styles with comfortable fits are the way forward right now. Stiefel explained, “People will continue searching for fashion-forward pants while keeping comfort top-of-mind. We are already seeing an increase in shoppers searching for cargo pants, patterned pants, dad pants, track pants, and new takes on legging and jogger silhouettes, and we anticipate these styles to continue to grow in popularity into the fall season.” Everlane Fall 2021 trends take inspiration from loungewear “Matching sets, cut out silhouettes, and plush textures are going to be the biggest trends this fall,” Stiefel said. We have already started to see the impact of sweatpants on everyday pants styles. More consumers are shopping for styles featuring drawstring waists and more moveable fabrics, while in denim low-rise waists and wide legs are taking over in popularity compared to high waists and skinny fits. For example, Everlane currently offers a line of what it calls “Easy Bottoms.” Each style, whether denim, chino or cotton, features an elasticated waistline to emphasize comfort. This is in addition the the brand’s new line of pants featuring paperbag waists, which offer a sophisticated look while keeping to elasticated fits. “Sweatpants and leggings will continue to influence pant styles,” Stiefel described. “Pieces that are comfortable and multifunctional will take center stage – like split-hem leggings that can be dressed down or up. These pants can be easily worn from day to night by pairing with a sneaker for a casual day look, or wearing a high heel and jewelry in the evening. With some offices announcing plans to reopen fall 2021, people will be looking for outfits that are professional while also comfortable.”
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Patagonia tops reputation rankings

Image: Patagonia campaign American outfitter Patagonia has topped the list as the brand with the best reputation according to the 2021 Axios Harris Poll 100 reputation rankings. Axios, an esteemed media company that aims to provide transparent and efficient coverage of its news topics, conducted the poll in collaboration with Harris Poll to gauge the reputation of the most visible brands in America, based on 20 years of Harris Poll research. Patagonia is the only fashion company to make it to the top 10. The next ranking is Adidas at number 40. The rankings are scored and rated by categories such as Trust, Products, Vision, Culture, Affinity, Ethics, Growth and Citizenship. The Axios Harris Poll 100 is based on a survey of 42,935 Americans in a nationally representative sample. The two-step process starts fresh each year by surveying the public’s top-of-mind awareness of companies that either excel or falter in society. These 100 “most visible companies” are then rated by a second group of Americans across the seven key dimensions of reputation to determine the ranking. If a company is not on the list, it did not reach a critical level of visibility to be measured. The poll is a trusted ranking of the reputations of the companies most on the minds of Americans using a framework Harris has used since 1999. Americans are asked which two – in their opinion – stand out as having the best reputation and which two have the worst reputation in America today. All nominations – best and worst – are compiled into an aggregate list to determine the “Most Visible” companies. Subsidiaries and brands are tallied within the parent company to create a total number of nominations for each company.
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First Look: Mango x Chufy

Image: courtesy of Mango by Nacho Alegre Spanish fashion retailer Mango has launched its exclusive collection designed by influencer Sofia Sanchez de Betak, Chufy x Mango. Announced in March 2021, the Chufy x Mango capsule collection is inspired by “an imaginary of sensations, aromas and images of trips featuring the Mediterranean as a backdrop” and features six dresses made using sustainable fabrics, such as organic cotton and recycled polyester. The Boho dress silhouettes have a relaxed style, with details such as frills, cords and textures, explains Mango in a press release, with floral, paisley and geometric prints. Argentina-born, New York-based art director and fashion consultant Sanchez de Betak has been an ambassador for Mango for several years and co-created the capsule with the Mango design team. Image: courtesy of Mango by Nacho Alegre Sanchez de Betak, said in a statement: “This collection is the result of a long and fruitful relationship with the Mango family and me. After years of collaborating we’ve got to understand each other so well, and enjoy the creative process so much, that working together feels natural and joyful. Still, having my work travelling the world alongside such an iconic brand is an honour I never imagined possible.” Mango’s design director, Justi Ruano, added: “We have known Sofia for some time, and we are on the same wavelength, so collaborating with her was a pleasure. Her effortless style and naturalness fit perfectly with our brand and it was so easy to work with her, she is such a creative person.” The Chufy x Mango collection is available on Mango.com and in selected stores in countries including Germany, France, Italy, Portugal, Russia, Poland, Turkey, UAE, the United States and Spain. Image: courtesy of Mango by Nacho Alegre
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Material development lead at Patagonia on sustainable production

In this edition of sustainable fashion podcast 'Smart Creation, welcomes Material Development Lead at Patagonia, Pasha Whitmire. Pasha shares her insight on Patagonia's journey to becoming one of the leading outdoor apparel in terms of sustainability and production. She also shares some fundamental questions every brand should be asking in order to reinvent the production of a product from design to completion. Image: Pexels
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Adidas unveils low-carbon shoe collaboration with Allbirds

courtesy of Adidas/Allbirds Rival sportswear brands Adidas and Allbirds have unveiled the first product from their collaboration, Futurecraft.Footprint - a low carbon running shoe. The sportswear companies have partnered up and shared proprietary technologies and material innovations, as part of both companies goals to reimagine a lower-emission design process and make a performance running shoe with no carbon footprint. This has resulted in the Futurecraft.Footprint prototype, a running shoe with a carbon footprint of 2.94 kilograms CO2e (carbon dioxide equivalent emissions) per pair and created with 63 percent less emissions. In comparisons, a comparable running shoe the Adizero RC3 has a carbon footprint of 7.86 kilograms CO2e. Brian Grevy, executive board member global brands at Adidas, said in a statement: “Our partnership with Allbirds is a beacon of what can happen when competing brands from the same industry see the possibilities in coming together to design. “By truly co-creating and providing each other with open access to knowledge and resources – such as Allbirds’ knowledge of carbon calculation and experience with natural materials, and adidas’ capabilities in manufacturing and performance footwear – this is a call-to-action for other brands, and a milestone in the sports industry achieving carbon neutrality.” courtesy of Adidas/Allbirds Allbirds collaborates with Adidas to create a running shoe with 2.94 kilograms CO2e The shoe itself highlights not only both brand’s opening up their materials, supply chains and innovations to each other but also two of their proprietary technologies “coming together and working in synergy”. The Futurecraft.Footprint is based on Adidas’ popular Lightstrike midsole, which was reimagined with Allbirds’ sugarcane-based SweetFoam, offering a low-carbon natural component. In addition, the newly developed upper material is made with 70 percent recycled polyester and 30 percent natural Tencel, a material made from wood pulp, for a smooth, lightweight upper that both companies state “lives up to performance expectations” with a highly reduced carbon impact. Commenting on the design, Jamie McLellan, head of design at Allbirds said: “Both the upper and the outside construction are inspired by the Tangram Principle, with all individual parts in their entirety achieving as little scrap as possible in production in order to reduce waste.” Florence Rohart, senior footwear designer at Adidas, added: “With this project, less really was more. To keep minimalist not only in materials but also in construction, we went to extremes and left only what we really needed on the shoe to keep the performance properties.” courtesy of Adidas/Allbirds The creation of the low-carbon shoe was achieved in under 12 months, with Allbirds and Adidas counterparts across product design, material innovation, sustainability and supply chain studying every component and all aspects of the process with an analytical methodology. The teams collaborated digitally from development to delivery, working across multiple time zones on opposite sides of the world to reimagined materials, manufacturing techniques and even packaging to reach the lowest possible footprint, whilst ensuring that the low-carbon shoe didn’t “compromising on performance”. Tim Brown, co-founder and co-chief executive at Allbirds, said: “We believe that the challenge of solving climate change is the problem of our generation and solving it will not be done alone. We need to find new business models, new innovations and new ways of working together. Our partnership with Adidas is an example of that. “Over the past year, our two teams have raced as one to create a shoe as close to zero carbon emissions as we could possibly achieve. The results are an exciting step forward, and hopefully, an example for others to follow.” Futurecraft.Footprint will see an initial launch in May with 100 pairs to be raffled to members of Adidas’s Creators Club. A further 10,000 pairs will be available for autumn/winter 2021, added both brands, ahead of a wider release in spring/summer 2022. The price of the running shoe has not been announced. courtesy of Adidas/Allbirds "> courtesy of Adidas/Allbirds
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Vinted raises 250 million euros in funding

Image: Vinted Second-hand fashion marketplace Vinted has raised 250 million pounds in a series F funding round led by investment firm EQT Growth. This latest funding values the Lithuania-headquartered company at 3.5 billion euros, up from the 1.1 billion euro valuation it was given following its last fundraising in November 2019. Vinted CEO Thomas Plantenga [pictured] said the company will now focus on expanding the business to new countries. “We want to replicate the success we’ve built in our existing European markets in new geographies and will continue investing to improve not only our product, but also to ensure we continue having a positive impact,” he said in a release. “We are grateful to our existing and new investors, and believe today’s milestone is a vote of confidence in our commitment to the circular economy and our relentless effort to build a business that encourages more people to buy and sell second-hand.” Vinted valued at 3.5 billion euros Founded in 2008, Vinted operates in over 10 markets and has become the largest online C2C marketplace in second-hand fashion across Europe. Its impressive growth underlines an increasing consumer interest for more sustainable fashion consumption, driven in particular by a more environmentally aware younger generation. And with that growing trend comes growing interest from investors like EQT Growth. Carolina Brochado, a partner and investment advisor to EQT Growth, said Vinted is “the perfect example of EQT Growth’s strategy of backing fast-growing European tech champions that tap into several macro trends, such as the increasing consumer demand for sustainability and continued penetration of online channels within fashion”. Brochado will also join Vinted’s board of directors. A number of rival second-hand fashion platforms have taken big steps in the last year as lockdown has boosted sales, with ThredUp and Poshmark both going public. According to ThredUp’s most recent annual report published in June 2020, the second-hand market is expected to hit 64 billion dollars in the next five years and overtake the fast-fashion industry by 2029.
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Replay strengthens collaboration with Husqvarna Motorcycles

courtesy of Replay Premium Italian casual clothing brand Replay is strengthening its collaborative partnership with Husqvarna with an exclusive limited-edition motorcycle. Replay first started its partnership with Husqvarna Motorcycles in 2020, when it became sponsors of its official Moto3 team. It is increasing its move into the motorcycling sector with exclusive editions of the Husqvarna Vitpilen 701, 701 Supermoto and 701 Enduro LR motorcycles. The ten special edition motorcycles have exclusive parts and graphics, including a new colour scheme and logos reflecting the Husqvarna Motorcycles and Replay branding. The “strictly one-off” motorcycles will not go into production, instead will be “handed out to selected celebrities,” explained Replay in a statement. Alongside the limited Replay editions, there will also be a special run of machines from Husqvarna Motorcycles with unique graphics to mark the collaboration. These will feature in Replay pop-up stores scheduled to appear internationally in Europe and Japan. In addition, Replay has created a joint-logoed capsule collection featuring jeans, a T-shirt, hoodies, fleeces and jackets to celebrate the partnership. The capsule will be available in both brands’ stores and online at Replayjeans.com. Matteo Sinigaglia, chief executive of Fashion Box SpA, said in a statement: “Forming a close partnership with Husqvarna Motorcycles allows Replay to step forward in the motorcycle world together with a brand that is known for its commitment to innovation and progression, the perfect partner for us to stand beside. Creating authentic experiences is something we value highly – a belief shared by Husqvarna Motorcycles and something that is key to developing the strong link between our two brands.” Florian Burguet, vice president global marketing at Husqvarna Motorcycles, added: “Collaborating with Replay gives Husqvarna Motorcycles the perfect opportunity to establish a relationship with a brand with which we have many shared values. Replay’s focus on producing premium quality products, their progressive, forward-thinking approach to development and their flair for innovation sets them apart from others in the fashion world. “We are proud to have the Replay logo adorn our Moto3 machines for the second year since our return to World Championship road racing. We look forward to continuing our productive relationship with Replay.”
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Canada Goose expects FY22 revenues to exceed 1 billion Canadian dollars

Canada Goose, Facebook For the fourth quarter, Canada Goose Holdings Inc. reported total revenue of 208.8 million Canadian dollars, up 33.7 percent from 140.9 million Canadian dollars. Based on existing economic and operating conditions, the company currently expects total revenue to exceed 1 billion Canadian dollars in fiscal 2022. “Canada Goose has shifted from recovery to growth beyond pre-pandemic levels,” said Dani Reiss, the company’s president & CEO, adding, “We achieved our largest ever fourth quarter by revenue. Recognizing pandemic uncertainties remain, we are highly confident in our potential for meaningful growth as we move into fiscal 2022.” Highlights of Q4 results at Canada Goose The company said, DTC revenue was 172.2 million Canadian dollars from 114.2 million Canadian dollars driven by ecommerce growth and continued retail expansion in Mainland China, offset by lower store revenue in other markets due to Covid-19 disruptions. The company’s wholesale revenue was 33.3 million Canadian dollars compared to 25 million Canadian dollars due to the higher in-season orders relative to the comparative period. Other revenue was 3.3 million Canadian dollars from 1.7 million Canadian dollars. Canada Goose posts positive operating performance The company’s gross profit was 138.6 million Canadian dollars, a gross margin of 66.4 percent, compared to 93.6 million Canadian dollars and 66.4 percent. Operating income was 7.8 million Canadian dollars, an operating margin of 3.7 percent, compared to an operating loss of 17.2 million Canadian dollars and an operating margin of negative 12.2 percent. Adjusted EBIT was 5.4 million Canadian dollars and an adjusted EBIT margin of 2.6 percent, compared to negative 9.7 million Canadian dollars and negative 6.9 percent EBIT margin last year. Net income was 2.9 million Canadian dollars or 0.03 Canadian dollars per diluted share compared to 2.5 million Canadian dollars or 0.02 Canadian dollars per diluted share. Adjusted net income was 1.1 million Canadian dollars or 0.01 Canadian dollars per diluted share compared to negative 13.3 million Canadian dollars or negative 0.12 Canadian dollars per diluted share. The company’s estimate for FY22 is based on assuming annual DTC revenue approaching 70 percent of total revenue, with continued distribution expansion in-line with historical levels and annual wholesale revenue in-line with fiscal 2021. Total revenue in Q1 fiscal 2022 is assumed to be less than double the 26.1 million Canadian dollars of total revenue from Q1 fiscal 2021. As of the date, six of 28 Canada Goose retail stores, representing 21 percent of the network, are closed.
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