AZ Factory to launch final collections designed by Alber Elbaz

Image: courtesy of AZ Factory AZ Factory has unveiled plans to launch two collections “fully finalised” by founder Alber Elbaz before his sudden passing in April, as well as a special tribute during Paris Fashion Week this autumn. In a statement, AZ Factory, the fashion start-up founded by Elbaz and Richemont, said that it would honour the late designer during women’s spring-summer 2022 Paris Fashion Week, which takes place from September 27 to October 5. The event will celebrate the “extraordinary life and work” of Elbaz while paying tribute to his “creative vision and joyous spirit,” stated AZ Factory. Laurent Malecaze, AZ Factory chief executive officer, said in a statement: “The world has lost a legend and the AZ Factory team has lost a beloved friend with the sudden passing of Alber. We are humbled and moved to launch the last two product stories he had finalised with the team. “In the next months, we will come together to honour Alber with a celebration of his life and his visionary work, aiming to bring the same level of passion and love that he brought to us each day.” AZ Factory to celebrate Alber Elbaz during Paris Fashion Week Alongside the planned celebrations, AZ Factory will launch two product stories this month, the first ‘SuperTech-SuperChic,’ which was unveiled online during couture week in January, will be available on June 12 to mark the founder’s 60th birthday. The collection “brings hi-tech to high-fashion”. Using eco-dyed, nylon microfibre traditionally used in activewear, AZ Factory has created an innovative, 3D knitting technology to create woven details inspired by couture craftsmanship to create what it is calling “athletic couture,” a new approach to formalwear that remains comfortable, breathable, and seasonless. This will be followed up by the never-before-seen ‘Free To’ product story, which the label said was finalised by Elbaz in his last weeks with the AZ Factory team. The collection is leisurewear in Elbaz’s style, with his signature raw-edged satin ribbon and metallic details. Elevated hoodies, tops, and sweatpants made of eco-sustainable fabrics feature messages of escapism and hope crafted in bold, hand-embroidered lettering. A highlight is an oversized lavender sweatshirt with ‘Kiss’ spelt out in ribbon. This collection will also support LGBTQ+ youth “in accordance with Alber’s wishes,” explained AZ Factory, with a portion of the proceeds to be donated to the It Gets Better Project, whose mission is to uplift, empower, and connect LGBTQ+ youth around the globe. Image: courtesy of AZ Factory AZ Factory to launch handbags In addition, AZ Factory will introduce handbags as a new product category, featuring designs “conceived” by Elbaz which aim “to allow women to freely hug and feel hugged”. The bags are made of high-frequency, moulded nylon and are described as “modular” to be worn crossbody, on the shoulder, belted at the waist, or held in hand. They also feature adjustable multi-strap and lightweight chain fixtures for “flexible wear”.
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New Balance appoints senior vice president of EMEA

US sportswear brand New Balance has appointed Mathias Boenke as its new senior vice president of Europe, the Middle East and Africa (EMEA). Boenke will return to the Boston-based brand in June having previously served as country manager for New Balance Germany between 2001 and 2006. He joins from Intersport where he served as chief operating officer for Germany, Austria, Czech Republic, Slovakia and Hungary. He also directed sales, marketing communications, digital expansion, and category management for the global sports retailer. He will be based at New Balance’s European headquarters in Amsterdam. Boenke replaces Fran Allen, a 25-year veteran of the company who will retire at the end of 2021. New Balance president and CEO Joe Preston thanked Allen, who he credited with driving significant sales growth for the company's North American and EMEA business. Welcoming back Boenke, he said: “We are excited to have Mathias re-join us to lead our efforts in the region as we capitalize on our brand’s energy and momentum. “Mathias has a proven track record of success and his leadership skills, industry experience and expertise in digital and omnichannel opportunities will drive our future success.”
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Lockdown results in permanent shift to online shopping

Dressipi The length and severity of lockdown in the UK has resulted in a permanent shift to consumers shopping online, new data reveals. Physical stores reopened in the UK on April 12 and most other businesses resumed on May 17. Recent data by Dressipi revealed shoppers are continuing to make purchases online instead of in-store, with around 30 percent growth online year on year. The research also found that retailers who would previously make 70 percent of their sales in-store will now likely be closer to 50 percent. As for what customers are buying, jeans and tops are extremely popular. Meanwhile, dress purchases are only slowly increasing to 2019 levels with a larger focus on highlight dresses than occasionwear. Online shopping leads to better customer insights The increase in online shopping means many retailers now have access to more customer data than ever before. The digital imprint of customers means businesses know who each visitor is and what their intent is. This provides a great opportunity for retailers to gain a deeper understanding of what areas need to be improved to increase the customer experience and revenue. Online sales are predicted to grow post-pandemic and brands will be expected to integrate the digital and physical shopping experience. Services such as buy online, pick up in-store, curbside pick-up, digital checkout, virtual concierge, will come to be expected by consumers.
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The O2 launches social media experience store called Tikky Town

Tikky Town Facebook The world’s number one music, entertainment, and leisure venue The O2 has opened a social media experience store. Tikky Town is the first TikTok-inspired funhouse in the UK where visitors are able to capture videos with their friends. The experience features over 20 unique and vibrant environments such as a pink Lamborghini, prison room, and balloon fan room as backdrops to create content. Will Bower, managing director of Tikky Town said in a statement: “The launch of sister brand, Selfie Factory, was a huge success and further to the boom of the ‘Instagram and TikTok generation’ we wanted to create a different experience, which was aimed purely at providing a playground for content to be shared on these social channels. “Icon Outlet and The O2’s strong destination performance since re-opening provides us with huge confidence that this latest experiential concept will take off following our recent launch here.” Tikky Town Facebook Marion Dillon, leasing director for Icon Outlet at The O2, commenting on behalf of AEG and Crosstree said in a statement: “Tikky Town is another great experiential concept to add to our offering at The O2 and demonstrates that we continue to remain relevant to trend-led concepts, and support our tenants’ growth and expansion where possible.” Tikky Town is located close to the Icon Outlets retail offering which includes brands such as Nike, Adidas, Levis, Next, The Cosmetics Company Store, and Tommy Hilfiger.
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Sustainable Swedish brand Asket steps into womenswear

Image credit: Denisse Ariana Pérez Sustainable Swedish brand Asket is branching out from its menswear roots with the launch of its first womenswear collection this summer. The six-year-old brand, which sells timeless menswear staples and encourages shoppers to have “smaller but better wardrobes”, announced Thursday it will begin by introducing six garments as part of a new permanent collection for women, which has been 24 months in the making. The first three of the six garments will hit the market in mid-August, and include a pair of jeans made of 98.5 percent organic cotton and 1.5 percent naturally degradable elastane, as well as a t-shirt and shirt both made from 100 percent organic cotton. “Shortly after”, the following three garments will be introduced, with the brand only revealing that they will include knitwear made from post-consumer recycled wool. Asket said each style will be launched as part of a beta-release of some 300 pieces - and only after obtaining a final round of customer feedback to refine the garments before production is scaled up in early 2022. This approach has been tried and tested through Asket’s permanent menswear collection, which to date comprises 35 men’s essentials. “Since our inception in 2015, we’ve been on a course that has continuously expanded our understanding and notion of responsibility as an apparel brand, supported by a wholly different business model,” said the brand’s co-founder August Bard-Bringéus in a release. “Our sole purpose is to help us better value our clothing, having us not just make do, but be happier with less. It’s been a journey that’s taken us six years and we hope to bring all our learnings together in introducing womenswear, with uncompromised garments in every sense, complete transparency and lifecycle responsibility from the get-go.” Asket said its womenswear collection will offer an extended sizing system like its menswear.
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JD Sports is the official activewear partner for Love Island

JD Sports British sportswear retailer JD Sports has announced a partnership with Love Island, becoming the official activewear provider for the seventh season. The sportswear brand has also launched a personalized section for fans to order caps, towels, face coverings, bags, and more. Peter Cowgill, JD Sports fashion executive chairman told Drapers: “Love Island is a cultural phenomenon and the must-see event of the summer. “As a brand, we’re always looking for new and dynamic ways to connect with and entertain our audience, and we know that Love Island will sit at the heart of their TV schedule for the coming months, so it’s absolutely a natural partnership fit.” JD Sports will reportedly have the exclusive Love Island TikTok hashtag challenge along with interactive content on Snapchat and the JD Sports app. The sportswear brand will also be the official partner for the Love Island podcast and release a new YouTube series featuring previous stars.
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PVH announces departure of CFO and Calvin Klein CEO

Image: Calvin Klein, Facebook PVH Corp. has announced two leadership updates to its global organization. The company said, Mike Shaffer and Cheryl Abel-Hodges will be leaving PVH in the coming months. Shaffer, chief operating and financial officer, will be leaving in September to pursue other opportunities and Abel-Hodges will be stepping down as CEO of Calvin Klein and moving to an advisory position with effect from July 1 through February 2022. Commenting on the leadership changes, Stefan Larsson, chief executive officer of PVH, said: “Mike has played an important role in shaping the direction of PVH over his 30 plus-year career with the company. As COO and CFO, he helped to expand our brands, including the acquisitions of Tommy Hilfiger in 2010 and Warnaco in 2013, as well as driving investments in infrastructure and operational capabilities.” “In her role with Calvin Klein, Cheryl made an impact on many areas of the company, including overseeing PVH’s innovative underwear platform, which harnesses the collective power and best practices from across the company’s iconic portfolio of brands.” The company added that Trish Donnelly, CEO, PVH Americas, who has had oversight of Calvin Klein, will take full global leadership responsibility for the business.
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Daniel Grieder takes over as Hugo Boss CEO

Image: Hugo boss media centre As of today, Daniel Grieder has begun his stint as chief executive officer at Hugo Boss AG. “I am thrilled to take over this exciting position today and to lead Hugo Boss into a successful future. It is my ambition to grow Hugo Boss in a fast but sustainable way and to unlock our brands’ full potential in the years to come, together with our teams around the globe,” said Grieder. The company’s supervisory board appointed Grieder as CEO of Hugo Boss on June 16, 2020, for a period of five years. In the interim, since October 1, 2020, CFO Yves Müller has served as spokesperson for the managing board. Until June last year, Daniel Grieder worked for Tommy Hilfiger for more than twenty years. He was largely responsible for the successful establishment of the Tommy Hilfiger brand in the European market and was named chief executive officer of Tommy Hilfiger Europe in 2008. Following the integration of the brand into the Phillips-Van Heusen (PVH) Corporation, Grieder became Chief Executive Officer and President of Tommy Hilfiger Global and PVH Europe in 2014.
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Zalando names finalists for sustainability award

Image: Teatum Jones Facebook Online fashion retailer Zalando has shortlisted Mother of Pearl, Nikolaj Storm Copenhagen and Teatum Jones for its sustainability award at Copenhagen Fashion Week. The award aims to encourage fashion brands to explore sustainable alternatives while recognising strategies that contribute to a more sustainable industry, explains Zalando, and for its second season it has been open to international applicants. The three finalists luxury sustainable womenswear brand Mother of Pearl, streetwear brand Nikolaj Storm Copenhagen and London-based label Teatum Jones were selected by an international jury. They will join the official show schedule at Copenhagen Fashion Week, taking place from August 10-13. Kate Heiny, director of sustainability at Zalando, said in a statement: “We’re delighted to have received so many applications for this year’s Zalando sustainability award and continuing our strategic partnership with Copenhagen Fashion Week. “The growing popularity of the award creates an opportunity for further work jointly with brands on growing the choice for customers in more sustainable items and making it visible across Europe. As a platform we want to use our influence to grow more sustainable choices and are happy to see that many brands want to partner with us in this mission.” Mother of Pearl, Nikolaj Storm Copenhagen and Teatum Jones shortlisted for Zalando sustainability award Each finalist will receive funding for production costs and debut their designs in the Zalando Greenhouse, the official hub of Copenhagen Fashion Week, which will showcase the latest in sustainable fashion both on and offline. The event will manifest through physical and digital experiences, added Zalando. They will compete to win 20,000 euros as well as a partnership with Zalando in developing an exclusive capsule collection, which represents sustainable advancements and innovation. Jury member Cecilie Thorsmark, chief executive of Copenhagen Fashion Week, added: “I’m happy to be working with Zalando for another year at Copenhagen Fashion Week as part of the judging panel on this year’s Zalando Sustainability Award. “It’s been exciting to review so many fresh ideas from brands that strive towards a more sustainable future. The jury shortlisted these talented designers as we think they have what it takes to provide consumers and the industry with accessible, responsible fashion.” The inaugural Zalando sustainability award was won by Swedish label House of Dagmar, who impressed the judging panel with its “strong sustainable ambition”.
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The keys to Otto Group’s decision to float About You

ANALYSIS Unlike other e-commerce operators, About You hasn’t been able to capitalise on the online shopping boom brought by the pandemic. With their recently announced initial public offering of shares (IPO), the German retailer expects to be perceived as “a recovery play” by investors. “We were not a lockdown winner,” About You’s co-founder Tarek Mueller said in a recent interview. “Our offering is geared more toward going-out clothes—there wasn’t much going out during the lockdowns, but we believe that there will be a big post-Covid pickup in that category. Investors clearly see us as a recovery play.” The retailer’s leadership also said its appeal to younger shoppers and technology platform offered a compelling growth story to investors. “We are the only company in our sector that has a proven internationalization strategy,” Mueller told Reuters. While they haven’t confirmed the listing’s date, the company issued a statement in late May advancing that they intend to become public in the second quarter of the year, with a view to raise at least 600 million euros via a private placement. The newly created stock will trade on the Frankfurt Stock Exchange. Sources familiar with the offering cited by Reuters said it would value the business at around 3 billion euros. Deutsche Bank, Goldman Sachs, and JPMorgan are acting as joint global coordinators and joint bookrunners on the deal, with Numis Securities, Societe Generale and UBS Investment Bank also acting as joint bookrunners. Proven hybrid business model combines owned fashion with apparel tech outsourcing About You competes with Asos Plc and Zalando SE on the retail side, races against THG and Shopify Inc on the outsourcing of their technology to other fashion brands, allowing them to run their own online shops. Indeed, when THG Plc listed in the London Stock Exchange a few months ago, it did so with a similar model: They operate their own e-commerce channel while THG’s Ingenuity business helps other retailers run their digital offerings. This is the business model that is proving the most successful in this day and age. Digital giants such as JD.com, Alibaba and Amazon lead the pack, with specialised players including About You, gaining market share in their respective niches. Market expects About You to reach 5 billion euro valuation Analysts consulted by Reuters highlight that comparable rivals which are already trading as public companies, such as fellow German Zalando (ZALG.DE) and Britain’s THG (THG.L) on average trade at 2.8 times forward sales. Based on that and that About You current growth rates (Revenue in the year to February grew by 57 percent to 1.2 billion euros, and the company is hoping to grow by another 50 percent in the current financial year) after floating, Otto Group’s e-tailer could get a fair value of almost 5 billion euros. Image: About You official website Image: About You official website
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Slump in travel cost the UK economy 5.4 billion pounds last week

Image: BTA Business Travel Tracker Last week the UK Business Travel Association launched a weekly Business Travel Tracker in partnership with Travelogic Data. The tracker analyses the economic value of business travel and illustrates the huge impact of the government’s traffic light system on the UK GDP. The first data released shows how much the UK is losing in contributions with travel down 90 percent over the same week in 2019. There were over 130,000 less trips taken last week, resulting in a loss of 5.4 billion pounds for the week. The figure from international travel is 4.4 billion pounds, according to the tracker’s data, and a further 1 billion pounds was lost from domestic trips. The BTA says business travel is a “crucial economic enabler for the UK, contributing to over 220 billion pounds every year.” In April retail sales volumes were 42.4 percent higher than in April 2020, according to figures from the ONS, which was affected by the first national lockdown when the tightest restrictions were in place; however, these growth rates are distorted by base effects and are not a reliable guide; sales volumes were 10.6 percent higher than February 2020, before the impact of the coronavirus pandemic. Back in February clothing retailers reported the largest fall, of 50.4 percent, in sales volumes when compared with February 2020 before the pandemic.
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UK government launch ‘call for evidence’ on the fur trade

Image: Pexels by Kaboompics The government has launched a formal ‘call for evidence’ asking for the fashion industry and general public to give evidence on the fur trade in the UK, to help “inform future government policy”. The Department for Environment, Food and Rural Affairs (Defra) is encouraging the public, fashion industry and businesses to contribute and share their views towards the fur trade, as the government considers banning the import and sale of animal fur. The ‘call for evidence’ has been launched jointly alongside the Scottish and Welsh governments, as part of plans to tighten animal welfare standards following Brexit. The review will ask for views surrounding animal welfare as well as the social and economic impacts associated with the trade, both on our shores and overseas. Environment secretary George Eustice said in a statement: “We already have some of the highest animal welfare standards in the world and as an independent nation we are now able to re-examine some of our animal welfare laws, including the import of fur for use in fashion products. “The views, data and case studies we receive will be vital to helping us inform future government policy in this area, including by better understanding the trade both at home and abroad.” The call for evidence concerns the commercial trade in fur only and does not focus on non-commercial, private activity, such as transactions and exchanges between private individuals. Fur farming has been banned in England and Wales since 2000 and since 2002 in Scotland. Strict rules are already in place for certain skin and fur products, including from commercial seal hunts and domestic cats and dogs, prohibiting them from being imported into the UK. Humane Society International/UK welcomes government review on the fur trade Animal protection charity, Humane Society International/UK, said that it “warmly welcomes” the governments ‘call for evidence’ and is encouraging the British public to “take this opportunity and make their voices heard”. Claire Bass, executive director for Humane Society International/UK, said: “We welcome Defra’s Call for Evidence as a significant milestone in our #FurFreeBritain campaign and hopefully the first concrete step towards banning the sale of cruel fur in the UK. “Our latest opinion poll confirms what previous polls have consistently shown, that the majority of Brits want nothing to do with the cruelty of fur farming and trapping and support a ban on fur being imported and sold here.” The charity also released new research showing that 72 percent of the UK public support a fur import and sales ban, including 52 percent who responded that they “strongly support” a ban. While 12 percent said that they were opposed to a ban, 14 percent were neutral and 3 percent answered that they did not know. The 2021 Yonder opinion poll, commissioned by Humane Society International/UK added that the strongest support came from Wales, with 82 percent public support for a ban, while only 6 percent of people opposed. While fur farming has been banned across Britain since 2003, the UK has imported more than 800 million pounds worth of animal fur from countries including Finland, China, France and Poland, where the Humane Society International/UK states that animals can experience terrible suffering and mental distress on fur farms. Bass, added: “This is an important opportunity for both individual consumers and fashion businesses to let the government know that fur is firmly out of fashion in the UK. As the government defines the UK as a new independent nation in trade, it’s critical that we use this moment to stop bankrolling cruel industries overseas – we banned fur farming here because it was too cruel so we should not be paying people overseas to incarcerate animals for their whole lives in tiny cages all for a bobble hat or hood trim. “When the selling stops the suffering stops too, and we are hopeful that this Call for Evidence will give Government everything it needs to move forward confidently with a ban.”
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Bangladesh Accord extended by three months

Image: Clean Clothes Campaign The Bangladesh on Fire and Building Safety Accord, which was set to expire on May 31 2021, has been extended for another three months. The accord is a legally binding pact signed by more than 200 fashion companies that aims to improve factory safety for workers following the 2013 Rana Plaza building collapse which resulted in the deaths of over 1,100 garment factory workers. The accord was set to expire in May, by which time it would be superseded by a new body, backed by the Bangladesh government, called the Readymade Sustainability Council (RSC). But trade unions and NGOs have warned that RSC is not ready to take over, citing concerns that it will not implement the same legally binding obligations for individual brands that were present in the Bangladesh Accord. On Sunday, UNI Global Union, IndustriALL Global Union and a negotiating committee representing leading fashion announced they had agreed to a three-month extension of the commitments of the 2018 Transition Accord to allow negotiations to continue. Christy Hoffman, UNI general secretary, said in a release: “We welcome this extension, which will allow us more time to negotiate a successor agreement to the Accord. We must put the mechanisms in place to ensure the success and credibility of the RSC as well as a safe workplace for millions of workers.”
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Major fashion brands accused of cultural appropriation in Mexico

Mexico has blasted major clothing brands Zara, Anthropologie and Patowl for using patterns and other elements of Mexican indigenous textiles in their collections without permission, the ministry of culture said Friday. The ministry has sent letters to the three labels asking them to publicly clarify on what grounds "the collective property" of indigenous peoples of the southern state of Oaxaca had been privatized, and to indicate how they intended to compensate the communities affected. Minister Alejandra Frausto told the brands not to undermine the cultures' "identity and economy", and called for changes that put indigenous designers from Mexico's 56 ethnic groups on an equal footing with major labels. The protection of their rights, "which have historically been invisible", was an ethical principle that had to be addressed at a local and global level, she added. Separate missives to each brand, dated May 13 and signed by Frausto, pinpoint specific products at fault. In the case of Spanish firm Zara, the ministry said a Midi dress with a belt incorporated elements from Mixtec culture, from the municipality of Oaxaca in San Juan. US brand Anthropologie's Marka embroidered shorts are said to contain elements of the culture of the Mixe people, and Patowl, also American, is accused of making a "faithful copy" of the traditional garments of the Zapotec people for its Tops printed T-shirt range. It is not the first time Mexico has taken a stand against the issue. In November, it challenged French fashion designer Isabel Marant over her latest collection which it said commercially exploited indigenous motifs. Designer Carolina Herrera, and Spanish companies Rapsodia and Mango have also been singled out for appropriating designs from Mexico.(AFP)
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LVMH presents commitment to circular economy at ChangeNOW Summit

Antoine Arnault joining the Change Now Summit virtually / LVMH At the recent ChangeNOW Summit, which took place virtually from 27th to 29th May, Antoine Arnault, responsible for image and environment at LVMH, presented the French luxury group’s commitment to supporting a circular economy. Its approach, known as “creative circularity”, is one of the four strategic pillars of the Group’s environmental program, LIFE 360. Arnault emphasised the benefits of a circular economy model for reconciling economic growth and the protection of natural resources and cited some recent initiatives by LVMH’s maisons, among them the LV Trainer Upcycling collection by Virgil Abloh for Louis Vuitton; projects to recycle surplus leather at Celine, Loewe and Berluti; and the integration of eco-design in the product development process at Hennessy.  More circular products and packaging at LVMH over next ten years He also mentioned Nona Source, a new platform launched by LVMH employees as part of the Group’s DARE intrapreneurship program. The initiative enables the Maisons to swap fabrics and budding stylists to purchase them at competitive prices. Over the next ten years, LVMH is planning to offer not only more environmentally friendly products but also packaging. This includes new circular economy services such as repairs and upcycling by 2023; zero plastic from virgin fossil fuels in the Group’s packaging by 2026; and an eco-design approach for all new products by 2030. As another LIFE 360 initiative, LVMH and UNESCO MAB (Man and Biosphere) also recently announced an extension of their joint project to combat deforestation in the Amazon, which is a major threat to the region’s precious ecosystems. A replay of Antoine Arnault’s talk at the ChangeNOW Summit can be found on the LVMH website or among the complete recording of the event on its website, event.changenow.world. 
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Why Footlocker decided to shut down their Footaction stores

After releasing strong quarterly results Footlocker Inc. announced it will call it a day for its Footaction chain. During a call with analysts that followed their financial release, the company’s leadership shared their thought process. Asked whether there was a substantial overlap between Foot Locker stores the Footaction ones, Richard A. Johnson, chairman and CEO at the athletic shoes group, explained they followed a similar process than that of last year when they close Runners Point. “We identified key points in time that if we have to make moves, then we’ll make moves. So I think the math tells us that 85 percent of our Footaction stores are located in proximity of one of our other banners. So there is a fair amount of overlap from a store base, there’s a fair amount of overlap from a consumer base, even though the great work that the Footaction team has been doing of late to try to separate with different product assortments, etc.” “We’ll be turning our focus on Foot Locker, Champs, Eastbay and Kids Foot Locker,” Johnson said. “We are assessing each Footaction location and determining the best move for each, whether they should turn into Foot Locker stores or close. We are taking advantage of lease expiration too,” further added Johnson. Footaction stores to be totally gone by 2023 Regarding the timing, Johnson pointed out that “given the timing of the lease expiries, given the timing of the digital effort that we’ve seen, this is the time to make this decision.” He referred to the fact that in the next two years, approximately 40 percent of the Footaction stores will go through a natural lease expiry. In the meantime, about a third of the chain’s stores will be repositioned into either Foot Locker Champs Sports. “As difficult as the decision is to do that, it’s the right thing to make sure that we continue to drive value for our shareholders, and we continue to drive productivity up for all of our banners that are remaining,” reassured the company’s CEO. As Foot Locker’s management reviewed their entire portfolio, they realized Footaction’s productivity and profitability run below the portfolio’s average. Image: Footaction store, Mall of America, NYC Footaction store, Mall of America, NYC
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Driven by Famous Footwear, Caleres Q1 sales rise 60.8 percent

Image: Ryka, Facebook Caleres net sales for the first quarter were 638.6 million dollars, up 60.8 percent from the first quarter of fiscal 2020. The company reported 108.2 percent sales increase in the Famous Footwear segment and 15.2 percent sales increase in the Brand Portfolio segment. Total company owned ecommerce website sales increased 21.4 percent, with ecommerce penetration of 25.6 percent of net sales. “Caleres had a strong start to the year, maintaining its solid upward momentum in the first quarter of 2021, driven in large part by an outstanding performance in our Famous Footwear business, where we achieved record quarterly earnings and delivered record first quarter sales levels,” said Diane Sullivan, the company’s chairman and chief executive officer. Highlights of Caleres Q1 results The company said, gross profit was 274.9 million dollars, while gross margin was 43.0 percent. Net income was 6.1 million dollars or earnings of 16 cents per diluted share compared to net loss of 345.8 million dollars or a loss of 8.95 dollars per diluted share, in the first quarter of fiscal 2020. Adjusted net income was 22.8 million dollars or adjusted earnings of 60 cents per diluted share compared to adjusted net loss of 50.4 million dollars or adjusted loss of 1.30 dollars per diluted share, in the first quarter of fiscal 2020. The company’s board of directors declared a regular quarterly cash dividend of 7 cents per share to be paid on June 30, 2021 to shareholders of record as of June 11, 2021. For the second quarter, Caleres expects sales levels to be between 625 million dollars and 650 million dollars– effectively flat to the first quarter of 2021 and adjusted earnings per share of between 50 cents and 55 cents.
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Cruella is a fashion feast to behold

Image: Cruella via Disney The new Disney adaption of 101 Dalmatians is a fantasia of fashion’s perennial quest for relevance and equally the making of its villain, Emma Stone, as the inimitable Cruella de Vil. It is lonely at the top, Emma Thompson’s character - the icy haute couturier Baroness - would echo. A position that requires cut-throat tenacity and unrelentless narcissism. Her advice to protégé Stone is “you can’t care about anybody else, everyone is an obstacle.” Every show and every season must see the Baroness remain top dog (even her three dalmatians are as toothily malicious as their master) as she unabashedly takes the credit for every idea her team generates. It is a caricature analysis of a bitchy industry but the pressure to achieve and sustain success is not lost on an older audience. The best office attire ever seen on film As for the fashion, Emma Thompson dons some of the best office attire ever seen on film, favouring sculptural Dior-esque jackets and fishtail gowns with never a hair out of place. Cruella, or rather Estella is she known at work, has her pulse on the zeitgeist, which is set in 70’s London during the burgeoning punk scene. Cruella is more partial to Galliano, McQueen and Westwood-inspired looks, choosing leather and lace and the spontaneity of punk instead of the rigour of cut favoured by the Baroness. When she gate crashes one of Baroness’s shows emerging from a dumpster truck in full couture, her never-ending train of sewn rubbish spills like lava onto the street. While previous iterations of Cruella de Vil poached puppies for their spotty fur, the current Disney version is all fur free and full of spunk. An origin story, it charts the becoming of Cruella, who is abandoned at birth by her mother, bullied at school, and becomes homeless after her adopted mother is murdered. After dreaming of becoming a fashion designer, she secures an apprenticeship with the Baroness. The film’s costume designer, Jenny Beavan, reportedly created over 275 costumes for the principal cast, including 47 for Cruella.
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