Louis Vuitton’s ‘Coming of Age’ exhibition kicks off, in memory of Virgil Abloh

Image: Fondation Louis Vuitton, Coming of Age An exhibition in memory of the late designer Virgil Abloh has been unveiled at the Fondation Louis Vuitton in Paris, France. Over a two week period, an extension of Abloh’s 2019 ‘Coming of Age’ exhibition will be open to the public, free of charge, running until April 27. The initial exhibition consisted of a curation of work that centred around the concept of the diversities and complexities of male youth, touching on race, class and social economics. At the exhibit, which travelled to several different cities, visitors were encouraged to take part in a DIY ‘copy centre’ where they could create their own zines with artwork from the exhibition. The concept has returned for the new iteration of the exhibition, paying homage to Abloh’s work through activities and physical events inspired by the former Louis Vuitton artistic director. In a release, the foundation said participants will serve “as an illustration of Virgil Abloh’s mission and achievement to democratise the dream embodied by Louis Vuitton”.
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Laings to open new UK flagship store in Glasgow

Image: Laings; artist impression of the Glasgow flagship Family-run jeweller Laings is investing 5 million pounds in a new UK flagship store in Glasgow, which will create a unique, immersive client experience that brings craftsmanship to the forefront. Laings has signed a 15-year lease to take over a landmark B-listed building in Scotland, which will see Rowan House on Glasgow’s Buchanan Street transformed into a 34,469 square foot outlet space. Stuart McDowell, managing director of Laings, said in a statement: “Last year, we announced our multi-layer expansion plan to transform our showrooms and workshops across the UK, reimagining the customer experience while ensuring traditional jewellers’ crafts are kept alive for generations to come. “The centrepiece of this investment plan is our new flagship showroom in Glasgow, where we’ll be bringing Laings to the forefront while creating unique, immersive experiences for our clients. With negotiations to secure Rowan House now complete, and a 15-year lease agreed, we’re excited to be able to announce our plans to deliver a new retail format that captures the imagination of our clients and further enhance the luxury shopping experience in Glasgow.” Laings the jeweller to invest 5 million pounds in new UK flagship Laings, which currently occupies the second and third-floor office space of the building owned by Royal London, has already submitted a planning application to Glasgow City Council to transform the full stone-built five-storey building to expand workspaces for its growing team of craftspeople, as well as enhance its overall retail experience. The move is part of Laings’ multi-layer growth strategy to build on its legacy as a leading destination for luxury jewellery and watches and will see it bring the brands from across its Argyll Arcade showrooms under one roof, as well as allow it to showcase its own offering of fine jewellery and diamonds. Image: Laings; artist impression of the Glasgow flagship The retail space will span the ground and first floors, while the basement, third and fourth floors will provide office space, with an enhanced hospitality area on the fifth floor. The second floor will feature a new watch workshop, which will create skilled job opportunities while inspiring the next generation of talent to train in the field. The immersive floor will also offer clients the unique opportunity to join its watchmakers and goldsmiths behind the benches to see their skills in action. Laings stated that it expects its “team of experts” to transition to the new unit and added that it also looking to recruit a general manager to oversee the operations at the new Glasgow location. Joe Walsh, chief executive at Laings, added: “As we continue to innovate with our jewellery and watchmaking retail experiences, we’re looking to bring innovation to every area of the business, while never forgetting the deep-rooted heritage of Laings. “The Argyll Arcade has been an important part of our story and we’re committed to ensuring the success of the arcade continues. Our three Glasgow showrooms have been invaluable as we’ve built our offering and presence in the city, but as we get ready for this next chapter, we’re open to enquiries about our existing retail units in the arcade.” Building warrants for Rowan House are expected later this spring to allow Laings to get work underway, with the building set to open its doors later this year. Laings, established in 1840, is one of the largest independent jewellery businesses in the UK and is now in the hands of the sixth generation of the Laing family. It currently has six showrooms across Glasgow, Edinburgh, Southampton and Cardiff, selling fine jewellery and luxury watches from brands, including Rolex and Patek Philippe and offering bespoke design and repair services.
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CNMI to offer 150 jobs to Ukrainian refugees

Image: CNMI Camera Nazionale della Moda Italiana (CNMI), which is responsible for the promotion and coordination of the Italian fashion industry, has announced the launch of a humanitarian project that looks to aid in the integration of Ukrainian refugees. Members of the CNMI have agreed to offer a collective total of 150 jobs to Ukrainian refugees, with temporary contracts that will allow for flexibility if necessary. The initiative closely follows CNMI’s involvement in a fundraising campaign led by the UN agency for refugees (UNHCR), which the organisation said raised over 4.5 million euros for those in need. “Europe is living through a severe political and humanitarian crisis,” said Carlo Capasa, chairman of CNMI, in a release. “As an institution and as individuals, we all feel the need to make a concrete contribution aimed at people.” Capasa continued: “Thanks to the commitment, the sensitivity and the generosity of our associates, we are able to activate a project which offers hope and builds bridges for a peaceful, collaborative and inclusive future.” The project will be part of a collaboration with the Presidents of the Italian Regional Councils, the regional National Association of Italian Municipalities and mayors of the towns linked to CNMI members.
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50,000 U.S. retail stores forecast to close over the next five years

Image: Pexels The shopping mall may not be dead, but that hasn’t dented the number of retail stores expected to close over the next five years. Between 40,000 and 50,000 shops could be shuttered, according to figures from Swiss investment bank UBS. The outlook is slightly better than during the pandemic, when 80,000 stores were expected to close, but the high number of retail closures is primarily expected to hit fashion and accessories industry, which will see nearly half of all closures, in addition to home furnishings and electronics store closures. Business is expected to boom for general merchandise stores such as Target and Walmart, according to CNBC. “Brick-and-mortar shops have proven to serve a critical role for retailers’ businesses during the Covid pandemic, the bank said in a new report on Wednesday, and retail sales growth has remained strong, in part due to rising inflation. This all bodes well for the future of physical stores, according to UBS retail analyst Michael Lasser,” said CNBC. Traditional shopping malls remain at higher risk for closures than neighborhood strip centers, UBS said. This is due to shoppers’ increased preference to shop local. Article source: CNBC
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Rent the Runway posts increase in Q4 revenue, but losses widen

Image: Rent the Runway Rental fashion platform Rent the Runway has reported widening losses despite a 91 percent increase in revenue in the fourth quarter. In the three months to January 31, the US business reported revenue of 64.1 million dollars, topping analysts’ estimates of 63.2 million dollars. It came as the company’s active subscribers count shot up 110 percent. Despite the growth, however, its net loss widened to 39.3 million dollars from a loss of 38.8 million dollars in the same quarter a year earlier. It made an adjusted EBITDA loss of 5.5 million dollars compared to a loss of 4.3 million dollars the prior year. Looking at the full year, the company increased revenue by 29 percent to 203.3 million dollars. However, its net loss widened to 211.8 million dollars from 171.1 million dollars a year earlier. It made an adjusted EBITDA loss of 19.2 million dollars compared to a loss of 20.3 million dollars the prior year. Looking ahead at fiscal year 2022, Rent the Runway has dropped its outlook, and now expects revenue in the range of 295 million dollars to 305 million dollars. Rent the Runway CEO and founder Jennifer Hyman said: “I’m proud that the strategic initiatives we focused on in 2021 paid off. “We improved the overall financial profile of Rent the Runway, making progress across all key financial metrics and demonstrating the resilience of the business during a year that was anything but normal.”
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Fast Retailing posts increase in first half revenue and profit

Image: Uniqlo Fast Retailing Group revenue of 1.2189 trillion yen, was up 1.3 percent in the first half of fiscal 2022, while operating profit of 189.2 billion yen increased 12.7 percent. Profit attributable to owners of the parent rose 38.7 percent to 146.8 billion yen. Uniqlo Japan reported a drop of 10.2 percent in revenue to 442.5 billion yen and drop of 17.3 percent in operating profit to 80.9 billion yen. Same-store sales were down 9 percent compared to strong sales in the previous year. The company said this was due to lost sales opportunities resulting from shortages in some strong-selling winter ranges. Uniqlo International generates strong revenue and profit Uniqlo International revenue of 593.2 billion yen, increased 13.7 percent and operating profit of 100.3 billion yen, was up 49.7 percent. The group reported strong performances from S/SE Asia & Oceania and Europe regions on the back of strong revenue and profit gains. North America region reported a large increase in revenue and a move into the black. The company said in a statement that demand in the Greater China region declined due restricted movement in the face of Covid-19, resulting in lower revenue and profit in the first half of fiscal 2022. The operating profit generated by the North America and Europe regions constituted approximately 20 percent of the total for Uniqlo International. GU segments posts drop in revenue and profit GU segment revenue of 122.8 billion yen was down 7.4 percent and operating profit of 9.3 billion yen, dropped by 40.9 percent. The company added that sales of fall items struggled in the face of persistently warm weather. While sales of some winter items proved strong, delays in production and distribution resulted in lost sales opportunities. Global Brands revenue of 58.9 billion yen rose 8.1 percent and operating profit moved into the black to 1 billion yen. The company’s Theory operation generated large increases in revenue and profit, while Comptoir des Cotonniers reported higher revenue and reduced operating loss. The company forecasts fiscal 2022 consolidated revenue of 2.2000 trillion, up 3.1 percent and consolidated operating profit of 270 billion yen, up 8.4 percent. The company expects profit attributable to owners of the parent of 190 billion yen, an increase of 11.9 percent.
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PVH sets 2025 revenue target of 12.5 billion dollars

Image: Tommy Hilfiger PVH Corp. has announced PVH+ Plan, a roadmap for brand, digital and direct-to-consumer (DTC)-led sustainable, profitable growth through 2025 to deliver accelerated financial performance and long-term value creation. The company said in a release that leveraging the strength of its two global brands, Calvin Klein and Tommy Hilfiger and connecting them closer to the consumer, PVH is targeting high single-digit global CAGR and total revenue target of 12.5 billion dollars, with operating margin expanding to 15 percent and free cash flow above 1 billion dollars in 2025. Commenting on the plan, Stefan Larsson, PVH’s chief executive officer, said: “Having successfully driven an accelerated recovery and generated record earnings per share in 2021, our priority now is to connect with the consumer in ways that reflect the formula to win in the ‘new normal’ and create long-term value. The execution of the PVH+ Plan will accelerate the growth of Calvin Klein and Tommy Hilfiger, two of the most iconic brands in the world, by unlocking their full potential across each of our regions.” PVH announces PVH+ Plan to drive growth The execution of the PVH+ Plan is also expected to achieve balanced growth from Calvin Klein and Tommy Hilfiger globally, high single-digit CAGR in Europe and the Americas; mid-teens CAGR in Asia Pacific, 20 percent CAGR in digital channels with direct-to-consumer brick & mortar outpacing wholesale brick & mortar. On April 11, 2022, the company’s board of directors approved a 1 billion dollars increase to the stock repurchase authorization and extended it three years to June 2026. As part of its growth plan, the company added, PVH will develop the best hero products in the market across key growth categories, with a focus on expanding in large and growing global demand spaces where the company’s iconic brands resonate most with consumers. By driving digital-first, 360-degree consumer engagement built around brand, products and key consumer moments, Calvin Klein and Tommy Hilfiger will meet consumers on their terms in new and engaging ways. PVH, the company further said, is accelerating digital growth by building a holistic distribution strategy for Calvin Klein and Tommy Hilfiger, led by digital and direct-to-consumer channels, and supported by key wholesale partnerships. “While investing to fully capitalize on the global, digital and DTC-focused potential of our plan, we will also drive efficiencies that together will accelerate earnings growth and deliver strong and sustainable shareholder returns,” added Zac Coughlin, chief financial officer of PVH.
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Telfar x Eastpak collaboration launching April 15

Image: Telfar x Eastpak In Pictures Telfar’s collaboration with VF-owned Eastpak featuring its first-ever backpack is launching on April 15. The four-piece collection, which launched through a blind pre-sale in March, where customers bought the bag without even seeing it, sold out in minutes, and now it is getting a full release at Eastpak and in select retailers. Following years of demand, Telfar has transformed its iconic shopping bag into a backpack in collaboration with Eastpak, where the shoulder straps convert from a shopper to a crossbody bag and to a backpack. Image: Telfar x Eastpak The collaboration includes three sizes of the Telfar x Eastpak shopper, the medium and large featuring a padded laptop sleeve, outer mesh pockets, and a bottle holder. While the small shopper has removable/adjustable padded shoulder strap so it can be worn crossbody, around the waist, or over the shoulder. As there is an emphasis on utility, Telfar has also made a tactical canvas version of its Circle bag. The whole collection also features an embossed Telfar logo co-branded with an embroidered Eastpak logo. Telfar x Eastpak launches on April 15. Prices range from 70 to 200 pounds. Image: Telfar x Eastpak Image: Telfar x Eastpak Image: Telfar x Eastpak Image: Telfar x Eastpak
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PrettyLittleThing names Alabama Barker as US brand ambassador

Image: PrettyLittleThing Fast fashion e-tailer PrettyLittleThing has named up-and-coming rapper, singer and beauty influencer Alabama Barker as its latest US brand ambassador. Barker, the daughter of legendary musician Travis Barker, has more than 1 million Instagram followers and will become the latest addition to PrettyLittleThing’s host of ambassadors, including actress Lala Anthony, Jayda Wayda and De’arra Taylor. Image: PrettyLittleThing Commenting on her new role with PrettyLittleThing, Barker said in a statement: “I am excited to be Pretty Little Thing's newest brand ambassador. I have been a long-time buyer and love how inclusive the brand is. I can’t wait for you guys to see my first shoot with the brand, launching very soon.” Barker’s first role as ambassador is fronting PrettyLittleThing’s ‘Y2K is Calling’ edit, featuring barely-there micro-mini skirts and dresses, oversized denim and separates in sugary shades that “channel that teen dream realness”. Image: PrettyLittleThing Image: PrettyLittleThing Image: PrettyLittleThing
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thredUp tackles fashion's waste problem during music festival season

thredUp The merry parade of young Hollywood in bucket hats, tie dye shirts and cowboy boots is upon us again but the dark side of summer music festivals extends beyond Kanye’s last minute cancellation as headliner at Coachella. The waste associated with the summer festival period is an environmental nightmare. Thrifting website thredUP conducted a study, the Festival Fashion survey, which found that an estimated 1 in 4 Americans plan to attend a music festival or concert this year. The season kicks off this weekend with Coachella. The study’s more worrying statistics reveal that 42 percent plan to buy a new festival outfit and nearly 1 in 3 say they buy festival outfits that they'll only wear once, and this includes 40 percent of Gen Z. The study relied on third-party retail analytics firm GlobalData and surveyed 2,000 American aged 18 and over in February 2022, asking questions about their shopping behaviors for music festivals and concerts.  thredUp.com Festival-goers 2022 will be particularly excited to be in the audience after two years of pandemic shutdown and the excitement of dressing up to enjoy their favorite musical acts cannot be overestimated. Harry Styles, Billie Eilish and The Weeknd will entertain those who decamp to Southern California’s Colorado desert for Coachella’s 2-weekend extravaganza, July’s 3-day Lollapalooza in Chicago boasts Doja Cat and Due Lipa, Austin City Limits Music Festival, which has yet to announce its line-up, extends across 2 weekends in October, and whether your vibe is bluegrass, jazz or country, there are dozens of events filling up the weekends in between. That packed calendar equals a haul of tossed, single-use clothing to weigh down our overburdened planet. Festival fashion is an ecological nightmare Music festivals already amass record amounts of waste year on year as attendees discard cigarettes, newspapers, wristbands, bottles, beer cans, toiletries, disposable cutlery, rain ponchos, sleeping bags, broken tents, and plastic sheeting for an army of litter pickers to sweep in the next morning and clean up. But less visible remains leech down into the soil and polymers from many of these items hang around in the environment for decades. The BBC estimates that the major US music festivals generate around 100 tons of solid waste every day. That's usually only considering what attendees eat, drink and sleep in and doesn't count what they wear which they will discard after returning home. thredUp.com So thredUp are targeting festival shoppers with their message to ditch disposability by thrifting. The e-commerce site has enlisted celebrity stylist and activist Karla Welch to launch thredUP x Karla Welch, a unique festival shopping experience that pairs thrifted pieces from the site with items from Welch’s celebrity styling. The idea is to inspire festival goers with the latest trends worn in exciting and innovative ways by embracing pre-used treasures over fast fashion grabs. Welch has styled 8 individual looks to take the consumer across multiple weekends and over 30 pieces within the selection are from Welch’s personal archive often sourced for celebrities with picks ranging from 14 dollars to 225 dollars. “Stylists are the arbiters of taste, dictating what’s cool on the red carpet, in street style, on social media, and beyond,” said Erin Wallace, VP of Integrated Marketing at thredUP. “We believe stylists have the power to redefine what’s fashionable, emphasizing circularity and reuse to combat the industry’s wastefulness." thredUp estimates that we would save 940M lbs of CO2E, the equivalent of taking 564M cars off the road for a day, if every festival shopper thrifted their outfits this year instead of buying new. The selection includes festival staples like novelty denim, floral shirts, leather jackets, and statement footwear. Said Welch, “Thrifting is one of the easiest ways to get a unique, eco-friendly festival look that’ll make you stand out from the crowd. Reusing all the amazing clothes already in existence is one of the best things we can do to reduce our fashion footprint.” Surely that’s music to any festival-goer’s ears.
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George at Asda establishes partnership with Netflix on licensed merch

Image: George at Asda Supermarket fashion label George at Asda has announced it will be collaborating with Netflix on merchandise collections available at select stores and via its online website. A total of 48 fashion and lifestyle products are included in the collaboration and consist of apparel, footwear, accessories, stationery and homeware, with themes centred around popular Netflix original shows such as Squid Game, Stranger Things and Emily in Paris. To launch the collaboration, 12 stores will be offering clothing and general merchandise while a further 38 will stock Netflix clothing and accessories, with more ranges set to release throughout the year. Additionally, at the retailer’s Milton Keynes store a ‘flagship’ concession will offer a broader range of experiences, including branded changing rooms and dedicated product areas. “We are extremely excited to have launched our partnership with Netflix,” said Scott Macra, senior buying manager at George, in a release. “We know that George is an important destination for customers looking to buy licensed product and Netflix has a broad range of properties that appeal to all the family.” Macra continued: “We feel this collaboration is a great fit for George, which allows us to continue to bring a range of product that is relevant and for all the family to enjoy.”
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Balenciaga to show in New York in May

Image: Balenciaga AW22 Balenciaga is to show its resort collection in New York City on 21 May. The Kering-owned fashion house follows Bottega Veneta, Thom Browne and Alexander McQueen who all showed in the U.S. recently. Balenciaga’s AW22 show during Paris Fashion Week, which saw models battling to walk through a blizzard carrying their belongings, was one of the most poignant presentations masterminded by Demna, the house’s Creative Director. The previous season saw Demna collaborate with Matt Groening, the founding artist behind The Simpsons. Expectations will be high for the Balenciaga show, especially as many European editors have not travelled to the U.S. since the onset of the pandemic in 2020. Balenciaga revenue reached 18 billion euros in 2021, an increase of 35 percent versus 2020 and 13 percent compared to 2019.
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Knix and Betsey Johnson collaborate on lingerie and nightwear collection

Image: Knix x Betsey Johnson Intimates label Knix has revealed a collaboration with Betsey Johnson consisting of a co-created collection inspired by the New York designer’s punk-like origins. A range of playful, iconic prints referencing Johnson’s typical design essence will be available in a nightgown, sleep set, three bra types and two underwear styles, including a leak proof version. “I’m nuts for Knix,” said Johnson, in a release. “I’ve never had so much fun collaborating with a design team who understands Betsey Johnson while being able to create pieces that I, myself, want to live in everyday.” She continued: “From the tiniest bikini brief, to comfy cozy PJ’s and sexy slip dresses - my Knix collection is a complete wardrobe. Wear it under, wear it over. Inside or outside. Simple as that, all you need is Betsey Johnson x Knix to have a little fun this season.” Accompanying the launch, Knix will be releasing an augmented reality (AR) feature for Instagram, allowing users to implement dedicated filters inspired by the collection into their posts. The collection launches April 12 and will be available through Knix’s official site.
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Tailoring brand TM Lewin bought out of administration

Image: TM Lewin, Facebook Formalwear brand TM Lewin has secured its second rescue deal in the span of two years, concluding a sale of the business and assets to TM Lewin Shirtmaker Limited, a company owned by its main lender Petra Group. Following a series of pandemic-induced struggles, the company was forced to call in administrators early March 2022. Its website subsequently shut down, displaying a message stating it was “undergoing maintenance”. The Petra Group reached an agreement with TM Lewin’s administrators Interpath Advisory to acquire the heritage brand. Potentially returning to the high street In a release, Will Wright, head of restructuring at Interpath Advisory and joint administrator of TM Lewin, said: “Following a great deal of interest, we’re pleased to have achieved this sale which secures the future of this famous British retail brand. “We understand the new owners will be relaunching the online trading platform over the coming weeks and, in the longer term, are considering the possibility of opening new high street stores. We wish them all the best for the future.” It marks the second time the formal menswear brand has had to be rescued from administration. In 2020, the label, which was founded over 120 years ago, was bought by SCP Private Equity after its first collapse. In response, the company closed a string of stores throughout the UK and made around 600 staff redundant at the time, as reported by The Guardian.
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NBA to open third European store in Paris

Image: NBA; Paris store The National Basketball Association (NBA) and Fanatics, a digital sports platform and global provider of licensed sports merchandise, have announced they are opening the first NBA store in Paris this summer. The store will be operated by retail giant Lids and located at 20 Boulevard Saint-Michel in Paris’s Latin Quarter and will mark the third NBA Store in Europe, joining London and Milan. Spanning more than 980 square feet, the store will feature an extensive range of official NBA and WNBA merchandise and memorabilia, including jerseys, apparel, headwear, sporting goods, toys and collectables from brands including Nike, Mitchell & Ness, New Era and Wilson. The store will also house exclusive NBA Paris-branded apparel and novelties and a customisation area where fans can personalise NBA jerseys and hats for all 30 NBA teams. Commenting on the opening, NBA Europe and the Middle East senior director, global partnerships, Steve Griffiths, said in a statement: “At the intersection of fashion and basketball culture, Paris has a unique tradition for the game and some of the most passionate NBA fans in Europe. Together with Fanatics and Lids, we look forward to welcoming fans from France and beyond to this exciting new and interactive space where they can celebrate their NBA fandom in style.” Lids Sports group president, Britten Maughan, added: “Lids is excited to bring the first NBA Store to Paris. Our location on Boulevard Saint-Michel will offer the widest assortment of NBA products in the country and will be a destination for both locals and tourists. “The NBA is an international brand and has proven to have a broad appeal globally. The new NBA Store in Paris will offer both fan apparel and trending fashion inspired by NBA culture in the US.” As part of the league’s partnership with Fanatics, additional international NBA Stores operated by Lids are scheduled to open this year, with locations to be announced at a later date. The NBA has more than 400 NBA-branded retail stores and attractions worldwide that serve as the league’s official destinations for fans around the world.
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