Under Armour's Q4 revenues rise 9 percent

Image: Under Armour newsroom Fourth quarter revenue at Under Armour, Inc. was up 9 percent or 8 percent currency neutral to 1.5 billion dollars compared to the prior year. Net income for the quarter was 110 million dollars and adjusted net income was 67 million dollars. The company reported diluted earnings per share of 23 cents and adjusted diluted earnings per share of 14 cents. "The final quarter of 2021 demonstrated the power and consistency of Under Armour's strategic playbook, which allowed us to capitalize on improving brand strength and consumer demand. By staying hyper-focused on operational excellence and serving the needs of athletes, we were able to deliver record revenue and earnings results for the full year," said Under Armour president and CEO Patrik Frisk. Under Armour’s fourth quarter review The company said, wholesale revenue increased 16 percent to 768 million dollars and direct-to-consumer revenue increased 10 percent to 720 million dollars, driven by solid performance in company-owned and operated stores and 4 percent growth in ecommerce, which represented 42 percent of the total direct-to-consumer business during the quarter. North America revenue increased 15 percent to 1.1 billion dollars and international revenue increased 3 percent or 2 percent currency neutral to 461 million dollars. Within the international business, revenue increased 24 percent or 23 percent currency neutral in EMEA, decreased 6 percent or 7 percent currency neutral in Asia-Pacific and decreased 22 percent or 23 percent currency neutral in Latin America. Apparel revenue increased 18 percent to 1.1 billion dollars, footwear revenue increased 17 percent to 283 million dollars, while accessories revenue decreased 27 percent to 107 million dollars. Gross margin increased 130 basis points to 50.7 percent compared to the prior year, operating income was 86 million dollars and adjusted operating income was 100 million dollars. Under Armour’s full year revenues rise 27 percent For the full year, the company’s revenue was up 27 percent or 25 percent currency neutral to 5.7 billion dollars compared to the prior year. Wholesale revenue increased 36 percent to 3.2 billion dollars and direct-to-consumer revenue increased 26 percent to 2.3 billion dollars, driven by strong performance in company-owned and operated stores and a 4 percent increase in ecommerce, which represented 39 percent of the total direct-to-consumer business in 2021. The company’s North America revenue increased 29 percent to 3.8 billion dollars and international revenue increased 34 percent or 28 percent currency neutral to 1.9 billion dollars. Within the international business, revenue increased 41 percent or 35 percent currency neutral in EMEA, increased 32 percent or 26 percent currency neutral in Asia-Pacific and increased 18 percent or 14 percent currency neutral in Latin America. Apparel revenue increased 33 percent to 3.8 billion dollars, footwear revenue increased 35 percent to 1.3 billion dollars and accessories revenue increased 12 percent to 462 million dollars. Gross margin for the year increased 210 basis points to 50.3 percent compared to the prior year, while adjusted gross margin increased 180 basis points to 50.4 percent. Operating income was 486 million dollars and adjusted operating income was 527 million dollars. Net income was 360 million dollars, adjusted net income was 397 million dollars, while diluted earnings per share were 77 cents and adjusted diluted earnings per share were 85 cents. Under Armour provides outlook for transition quarter ending March 31, 2022 Under Armour's outlook for the transition quarter ending March 31, 2022, when compared to the same calendar period of fiscal 2021, expects revenue increase at a mid-single-digit rate compared to the previous expectation of a low single-digit rate increase. This expectation includes approximately 10 percentage points of headwinds related to reductions in our spring-summer 2022 order book from supply constraints associated with ongoing Covid-19 pandemic impacts. Gross margin is expected to be down 200 basis points compared to the prior year period's adjusted gross margin. This expectation includes approximately 240 basis points of negative impact due to higher freight expenses resulting from ongoing Covid-19 supply chain challenges in addition to unfavourable sales mix, partially offset by pricing benefits. Operating income is expected to reach approximately 30 million dollars to 35 million dollars and diluted earnings per share are expected to be 2 cents to 3 cents.
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Milan Fashion Week unveils jam-packed line-up

Image: CNMI For the autumn/winter 2022 season, the Milan Fashion Week Women’s Collection is set to return with a schedule of 169 appointments, 67 physical fashion shows (eight of which will be digital), 69 presentations, eight appointment presentations and nine events. The event is to be held from February 22 to 28, boasting a strong line-up of emerging, returning and big-name brands preparing to present their upcoming collections. Returning brands and new names Bottega Veneta, Diesel, Trussardi and Plein Sport will all be returning to the calendar for this season. It will also mark the return of Gucci, which, for the past few seasons, has hosted various events outside the typical fashion week schedule, such as its star-studded and theatrical Hollywood Love Parade. A cohort of fresh names have additionally been introduced to the runway schedule, each presenting for the first time at Milan Fashion Week. AC9, Ambush, Andreadamo, Aniye Records, Cormio, Ferrari, Hans Kjøbenhavn, Husky, Palm Angels and Tokyo James are among those making their Milan debut, while many other newly launched brands will take to the presentation schedule. The Italian event will welcome the likes of Miss Sohee, which is supported by Dolce&Gabbana, Balestra, Andrea Incontri and Edoardo, also each featured for the first time. Special events to look out for Alongside the presentation and runway overload, this fashion week will also be home to a number of hybrid events set to highlight both new designers and established names. Presented by White Milano and System Preferences, the ‘Beyond the Norm’ exhibition and art performances will run next to the fashion week schedule at the Mudec Museum, while the event ‘Bvlgari B.zero1 Avrora Awards’, celebrating women and organised by Bulgari and Vogue Italia, is scheduled for February 27. The Fashion Hub, which will be inaugurated on February 22, is also set to host a packed schedule of activations supporting a young, diverse and sustainable range of designers. Located in the ADI Design Museum, the event will include the We Are Made in Italy project, exhibiting five BIPOC designers, The Designers for Ethical Fashion project, dedicated to ethical and social fashion, five eco-forward brands for the Designers for the Plant project and the seventh edition of Budapest Select, promoting emerging Hungarian creators. Young talents and emerging designers For this season, the Camera Nazionale della Moda Italiana (CNMI) has said, in a release, it is looking to “give even more room to the topic of promoting emerging talents”. A set of initiatives by the organisation aim to do just that, giving way to a new generation of Italian and international designers. Philanthropic community organisation Camera Moda Fashion Trust will be launching a contest for independent brands, offering financial support, business mentoring and tutoring to selected recipients. Additionally, a photography platform launched by CNMI and Vogue Italia also looks to aid models, designers and photographers through an offline activation that will see five creators’ works displayed throughout the city.
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Danish brand Han Kjøbenhavn to open London flagship

Image: Han Kjøbenhavn FW 22 via Catwalkpictures Danish brand Han Kjøbenhavn plans to open a flagship store in London. Only a month ago, the brand’s first flagship opened in its hometown of Copenhagen, Han Kjøbenhavn announced on Linkedin. Now it seems the second location is already in the works. In an Instagram story by stylist Uly Gold, which was shared by Han Kjøbenhavn, a store front donning the name of the brand can be seen, with renovation work being done inside. The post is captioned: “I spy @hankjobenhavn in Soho, London, UK." No other details about the opening have been revealed. The recently opened Copenhagen flagship integrates technology into the design. The rather simplistic space is decorated in grey and white. One side of the store consists of large screen walls that play visual effects like fire, juxtaposed with the collection on the plain side of the store. This is intended to make the store a place where art, culture and aesthetics merge, according to the Linkedin post. “Physical retail has to develop to stay relevant for people. We are at a place where we feel the time is right to make a change and to create a new way of experiencing physical retail,” says CEO Daniel Søndergaard Hummel. “Our focus has been on creating a space that is able to change and provide different feelings and experiences on a continuous basis.” The flagship store in Copenhagen is located at Pilestræde 30. Han Kjøbenhavn was founded by creative director Jannik Wikkelsø Davidsen. The brand offers men's and women's clothing and accessories.
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Breuninger buyer: “It's getting dressier again, but with the comfort we've grown to love”

Interview Breuninger’s head of style Martina Haberbosch / Image: Breuninger With the new round of orders for FW22/23, buyers are again faced with the challenge of planning ahead for a season whose general conditions are more difficult to estimate than usual. What kind of ranges will fashion brands and retailers present to their female customers next year? What kind of fashion do women want next autumn? Will they still want to dress in oversized and comfortable clothes or in figure-hugging and sexy ones again? What trends can one already identify? We asked Martina Haberbosch, head buyer at German department store retailer Breuninger, for her forecast. Ms. Haberbosch, for the FW22/23 order season, what do you see as the most important trend themes in womenswear? There are various themes. First and foremost, modern ready-to-wear, so it's getting dressier again, but the comfort we've grown to love is still there. Specifically, I expect casual blazer styles and loose-fitting pants in comfortable, high-quality materials, and ready-to-wear sets will also remain strong. The mix-and-match idea in general allows for a variety of possibilities. Breuninger flagship store in Stuttgart, Germany. Image: Breuninger Timeless, high-quality pieces with a longevity factor are also important as key wardrobe pieces, like wool coats and cashmere knits. Knitwear in general plays a major role as a feel-good guarantee in high-quality cashmere and comes in interesting material blends and great new styles - as cardigans, casual jumpers, workwear shapes and also still as sweater vests with fresh updates. Fashion highlights are open knitted fabrics with loose stitch patterns and details such as deep necklines. Just as important: highlights that playfully blend into the current wardrobe and create a ‘wow’-effect, often also for occasions. From one’s desk to the party, so to speak. What about silhouettes and lengths? In addition to relaxed silhouettes and modern layering, which give maxi silhouettes the right appearance, we are also seeing more body-hugging shapes again. Here I'm thinking of knitted sets and knitted dresses, which are tight yet still comfortable. In the basic knitwear sector, too, we see tighter turtlenecks and knits, which can be combined with casual pants - narrow at the top, wide at the bottom. Bodycon and mini silhouettes are fashionable, especially for evening wear. What kind of dresses can we expect at Breuninger next winter? Dresses will play a big role - from sophisticated drapes and wrap effects to casual boho-style dresses. Prints give a new impulse and of course, all party dresses are about sophistication and glam effects. Trend agencies are talking about a new desire for sexiness due to the current Corona restrictions. What do you think? We have to keep a close eye on our target groups and see what is feasible for our customers and in what form. Sexiness can also be expressed more subtly, for example by wearing a crop top under a blazer. That way it also works for the broader market. Then you can also play with details that pave the way for this new sexiness, for example with cut-outs or simply by choosing a slimmer silhouette. In party dressing, however, mini- and bodycon shapes clearly provide new impulses. Here, the glam factor with sequins, metallics and lamé remains important, even the party blazer with leggings. We see a huge range of different pant cuts right now. Will it stay that way? The variety will remain. In addition to relaxed fits and wide pants in the denim segment, we are getting more straight to narrow shapes again. Leggings are also getting a push again in the fashion area. Let's see how and whether the narrower shapes will catch on quickly. What colours and materials will dominate next winter? Warm, nut-brown tones will form the basis, up to chocolate brown; grey tones will also come into play again. Colour is and remains important! Pink and red will remain while orange and green are on the way. Not to forget violet and lilac, which is the Pantone Colour of the Year 2023. Softness and comfort are important for materials, in contrast to everything technical and functional. Sustainability is also an important trend topic. How do you implement it? Breuninger is actively addressing the issue of sustainability within the framework of four specially created fields of action. For us, it is not a trend but an important part of our corporate social responsibility, which is part of being a member of society. In the Breuninger online shop and the department stores, we identify all brands and products accepted by us and certified as sustainable accordingly. In your experience, is sustainability a decision-making aspect for your consumers? We are observing an increasing awareness and interest from our customers. What kind of styles have worked well so far, what not so much? Anything that is comfortable and practical works very well. Cashmere knitwear is clearly a winner in our ranges. Quilted jackets have also done well - from waistcoats in autumn to long coats in winter. In addition, fashionable highlight pieces are doing well, for example a particularly attractive print or an eye-catching colour. Aboout Breuniger E. Breuninger GmbH & Co. is a Stuttgart-based German department store retailer trading under the name Breuninger. The company has 12 department stores in Germany, and an online store. In 2021 it aquired Konen in Munich and Bram in Luxemburg, making the total number of stores 14. This interview was conducted in writing, originally published on FashionUnited.de. Edited and translated by Simone Preuss
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In pictures: Moncler unveils collaboration with DingYun Zhang

Image: Moncler x DingYun Zhang In Pictures Italian fashion house Moncler has revealed a futuristic collection designed in collaboration with Chinese designer DingYun Zhang. The line incorporates Moncler’s design values with Zhang’s specialisation in padding and volume, resulting in the development of sculptural and inflated silhouettes made through thermo-glued irregular quilting. Coats, padded vests, cropped blousons, face masks and cycling shorts make up much of the collection, each displaying oversized volumes that have been achieved through lightweight materials. Organic colours are inspired by underwater animal activity and coral growth, which has held much of the influence over the line and have translated into abstract prints and blocked layers. Zhang, a Central Saint Martins MA graduate, also utilises Chinese techniques seen in knotted buttons, hidden zips and ribbed cuffs, each developed to add a sense of functionality to the pieces. Image: Moncler x DingYun Zhang Image: Moncler x DingYun Zhang Image: Moncler x DingYun Zhang
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Meta's platforms are hotbeds for counterfeit goods

Image: Pexels Facebook parent Meta is a hotbed for counterfeit goods, with fake items from Gucci to Chanel widely available on its platforms and social media apps. Research from Ghost Data says Meta’s apps continue to provide lucrative channels for sellers of fake consumer goods all over the world. “Particularly Meta and its subsidiaries have developed a strategy increasingly aimed at becoming an e-commerce leader, thus attracting a more diversified crowd of ruthless counterfeiters. In turn this has further exposed Facebook’s inability to keep under control such activities on its platforms. This controversial behavior led to an increase of counterfeit sellers and eventually to a general user distrust still evident today.” Ghost Data first exposed the issues in 2014, and contributed to an NBC News report about fake sales on Instagram. In 2020 the company uncovered over 10,000 counterfeit masks on Instagram. A booming trade The global trade in counterfeit and pirated products was worth an estimated 464 billion dollarsin 2019, amounting to approximately 2.5 percent of world trade, according to the latest data from the Organisation for Economic Co-Operation and Development (“OECD”). The Paris-headquartered intergovernmental economic organization asserted in June that the volume of trade in fakes – from pirated goodsand products bearing counterfeit trademarks, including common consumer products like clothing and footwear and luxury items to business-to-business products. Counterfeit acceleration due to Covid-19 Such growth is likely to have accelerated further amid the COVID-19 pandemic, as government mandated lockdowns and widespread consumer caution has significantly impacted consumption behaviors and prompted a stunning rise in e- commerce activity. Counterfeiters have benefited from the spike in online shopping, which has been prompted in part by the increased comfort of consumers of various demographics to not adopt e-commerce as a mode of shopping but to shop for a wider array of goods online than ever before. This has allowed counterfeit-sellers to reach and potentially dupe more sizable pools of consumers than in the past. At the same time, counterfeit-sellers have piggybacked on the production and distribution disruptions that have led to widespread shortages of authentic goods, thereby, enabling them to fill glaring voids for various types of products – albeit with inauthentic ones. Online commerce is a key priority for Meta, said Reuters, which has pushed new shopping features that could help grow its revenue as it faces pressures like ads tracking changes and after a slowdown in new users.But users exploiting its platforms to sell fake goods present a persistent problem for the company, which also faces scrutiny from lawmakers and regulators about its content moderation. "The sale of counterfeits and fraud is a problem that has always persisted with new technology," said a Meta company spokesperson in a statement. "We are getting better every day at stopping these sales and cracking down on fraudsters," the person added. Counterfeit sellers consistently adopt new methods to obscure their identities and activities, said the report, making it difficult for brands to easily put a halt to their operations. Ghost Data uncovered 26,770 counterfeiters' accounts active on Facebook at the end of October 2021 over a period of 20 days. They further estimate that on Facebook and Instagram combined there are about 6,000-7,000 wholesalers from China, with an annual business turnover ranging between 1.8 billion dollars and 2.1 billion dollars. Counterfeiter statistics * Their potential audience can easily reach 20 million users only through people that are “friends” with such counterfeiter accounts. The vast majority of Instagram and Facebook counterfeiters are based in China – 65 percent (up from 43 percent in 2019) – followed by Russia (14 percent) and Turkey (7.5 percent). * The brands most pictured are items by Louis Vuitton (almost 6 out of 10), followed by Chanel (8.5 percent), Fendi (6.7 percent), Gucci and Prada (both over 3 percent). * The LVMH group items/brands cover about 67.8 percent of the overall visual content posted by counterfeiters. Far distant are Kering and Chanel, both with over 8 percent, and the other groups combined with about 15 percent. Yupoo, a new visual platform combining some features of both Flickr and Pinterest, is now the catalog system most used by counterfeiters. It is a China-based service enabling users to easily create detailed albums (with pictures of zips, seams, labels, etc.) that can be shared via a simple link over the Internet. Ghost Data identified over 6,500 unique links with over 2 million images of images and videos of counterfeit items. The report concludes Meta’s security reports and legal initiatives, the effects of their supposed crackdown on these illicit activities are disappointing and insufficient. This apparently unstoppable trend is causing a whole array of serious problems, including child labour, exploitation of women, toxic products, digital frauds, and funding of criminal and terrorist organizations. Article source: Ghost Data “The Meta Counterfeiting Empire, A Global Threat Thriving on Today’s Social Media”
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Estée Lauder Companies invests in skincare brand Haeckels

Image: Haeckels Beauty British natural skincare and fragrance brand Haeckels has announced that Estée Lauder Companies has made a minority investment in the company. Terms of the investment were not disclosed, with both companies just stating that the deal would enable Haeckels to continue championing sustainability, creating game-changing products and fighting for greater transparency in beauty. Estée Lauder Companies said that the deal was in line with its commitments to environmental and social responsibility, and would leverage its strong track record of identifying and nurturing high-potential brands such as Dr. Jart+ and The Ordinary to support Haeckels’ in its development as they scale up on a global level. Founded in Margate, Kent, in 2012 by Dom Bridges, Haeckels marries a love of natural ingredients, pioneering design, high-quality craftsmanship and a celebration of coastal regeneration and sustainability. Inspired by its love of the ocean, the skincare and fragrance brand manufactures natural products from renewable resources such as seaweed while implementing and supporting solutions to help crises facing the planet’s oceans. Image: Haeckels All Haeckels products are made in-house and offer customers a plant-based alternative to traditional formulas. The brand also promotes a more circular economy that includes an ecosystem of locally harvested seaweed and highlights sustainable packaging solutions, with all products being fully recyclable or compostable. British natural skincare brand Haeckels secures investment from Estée Lauder Companies Image: Haeckels Charlie Vickery, Haeckels managing director, said in a statement: “The Estée Lauder Companies understands what we do and the love we have for it, with a shared goal to pioneer and disrupt the beauty industry. “This minority investment provides us the freedom to continue with our vision and purpose. We thank The Estée Lauder Companies for their commitment to our future, and are excited to be partnering with the company, which has felt like a family since day one.” The investment follows the 2013 opening of Haeckels’ first store in Margate, as well as the 2019 and 2020 launches of Haeckels House, the brand's immersive spa treatment spaces located in Margate and London. Image: Haeckels Haeckels founder Dom Bridges added: “Estée Lauder Companies came to us at a time where we were looking to grow sustainably and although we are in the early days of our partnership, the discussions and steps forward are healthy and our future symbiotic - we are a positive influence on them and they are a positive influence on us.” Image: Haeckels
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Philipp Plein purchases 1.4 million dollar plot of metaverse land

Image: Philipp Plein Luxury designer Philipp Plein has purchased a plot of land in the 3D virtual reality platform, Decentraland. The Plein Group reportedly bought the digital estate for 510,000 Manas, the platform’s own cryptocurrency, which corresponds to around 1.4 million dollars. It is said that the location has been dubbed Plein Plaza, in a report by WWD, and covers 65 Decentraland parcels, the equivalent of approximately 176,528 square feet. The project will include stores, entertainment, an art museum, hotel and luxury residences. Digital artist Antoni Tudisco and Jason Rosenstein, founder and chief executive office of NFT auction house Portion, will be involved in the development of the estate. In a statement via the publication, Plein said he was “proud” to have made this move into the Metaverse “so early on in the development and establishment of this new universe”. Last year, the designer was among the first to adopt elements of the digital world, accepting more than 20 different cryptocurrencies as a means of payment at the brand’s physical and online stores. Additionally, Philipp Plein’s menswear presention for autumn/winter 2022 also presented sculptures of NFT-artwork that the designer is intending to exhibit in this year’s Art Basel Miami.
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Brooklyn-based BIPOC brand discusses impact of Black History Month on business

Novel Swim lookbook image Interview In honor of Black History Month, Edify, an online direct-to-consumer marketplace for ethical and sustainable BIPOC-owned businesses highlights brands to make it easier for shoppers to allocate their purchasing power accordingly. Edify’s purpose of hand-picking products and companies that appeal to a conscious consumer simultaneously aims to support, empower, and celebrate underserved communities, with their ultimate goal to end racism in the fashion industry. This month Edify’s spotlight shines on Brooklyn-based Novel Swim, a fun, inclusive swimwear brand founded by Laura Paulino Rosenbaum who works with local seamstresses in New York City’s garment district to ensure everything is ethically made to last. FashionUnited speaks with the designer/founder to understand how the pronounced attention of Black History Month impacts BIPOC-owned brands and how a small business operates within NYC’s corporate climate. Novel Swim image from ShopEdify.co As founder of Novel Swim, how do you feel about the promotions and PR pushes that occur during Black History Month?  As a business owner that truly believes in the value of my product, I've welcomed the influx of PR that comes during Black History Month, but it's been a complicated feeling because I believe it should be seen and recognized year round. Novel has been here for 7 years, so it's been amazing to finally get noticed, but it also makes you wonder why people didn't notice you before. It's been especially critical to have exceptional retail partners that value us and our product. Our partner, Edify, highlights that we are Afro-Latina owned, but they make sure their customers also know that our swimsuits are beautifully and ethically made, sustainable, and locally manufactured in the USA. It's important for us not only to be seen for being BIPOC when we are relevant to the social calendar but also be seen for the range of values that we bring to the table every other day of the year. Do you see an uptick in business during February as a result of these promotions?  We've absolutely found that these pushes result in a huge spike in sales. Last year, we saw business go up 75 percent in one day as a result of a PR push. The power of promotion is strong and translates to more sales for us and our retail partners. But it's important for all parties involved to see the actual dollar value we are bringing and not withhold opportunities for exposure exclusively during February. No business can survive if it is only thriving for one month. If people are truly invested in seeing BIPOC brands grow and stay on the playing field, they need to keep the field open all year long. As inclusivity and diversity appears to gain more importance within the fashion industry, especially over the past two years, have you seen a positive impact on your business? Totally! The emergence of purpose driven shopping platforms like Edify Clothes that create a destination for shoppers who are seeking BIPOC brands to invest in year round has given us more outlets to exist on. In January, Novel participated in an Instagram Live with Edify, which was another powerful way we were able to reach new audiences.  Novel Swim designer Laura Paulino Rosenbaum; image ShopEdify.co As a Brooklyn-based business with manufacturing in NYC's garment district, do you find there is satisfactory networking and industry collaboration in the city? Despite everything and everyone being super close, there are still a lot of doors that have remained closed. But I have spent the last few years pushing, and some are beginning to crack. I've had to be extra aggressive and constantly keep my ear to the ground in order to make satisfactory connections to propel my business, but I think that goes for anyone. Thankfully, there are more virtual spaces opening up to provide resources for business owners like me to network and collaborate.
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Paris Fashion Week confirms 45 physical shows

Image: Nahmias Paris Fashion Week has confirmed 45 physical shows for the upcoming season. The Row and Vtmnts will be the latest addition to the calendar. Off-White will also stage a runway show in tribute to their recently deceased founder, Virgil Abloh. The preliminary schedule went live yesterday. Paris Fashion Week is set to run from February 28 to March 8 and will feature 95 brands in total, with 37 presentations and 13 digital showcases. Off-White’s show is scheduled for February 28 at 8 p.m. This season’s schedule includes returning heavy hitters, namely Dior, Saint Laurent, Balmain, Chloé, Chanel, Miu Miu, Rick Owens, Loewe, Hermès, Balenciaga, Valentino, and Givenchy. Lanvin, traditionally a staple of the Paris Fashion Week Calendar, will be digital only this season.
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