Richemont posts strong Q1 sales despite Mainland China restrictions

Image: Richemont Swiss luxury giant Richemont reported a 20 percent increase in sales on a reported basis in the first quarter of the year despite the impact of Covid restrictions in Mainland China. The group, whose portfolio includes Yoox Net-a-Porter (YNAP), Chloé, and Cartier, posted sales of 5.264 billion euros in the three months to June 30, up from 4.397 million euros a year earlier. Breaking it down by region, sales in Asia Pacific, which in recent years has been its biggest market, dropped 15 percent to 1.78 billion euros due to ongoing restrictions. Sales in Mainland China fell 37 percent in the quarter, but that narrowed to 12 percent in June as restrictions were eased. The Americas become Richemont’s biggest market The drop in Asia Pacific was offset by strong double-digit growth across almost all of Richemont’s other geographies. In the Americas, sales were up 25 percent to 1.344 billion euros, making it Richemont’s biggest market in the quarter. In Europe, sales were up 42 percent to 1.29 billion euros, with France the standout performer with triple-digit growth. Sales in Japan surged 83 percent to 421 million euros. Meanwhile, sales in the Middle East and Africa were up 6 percent to 429 million euros. Breaking it down by business area, sales at Richemont’s Jewellery Maisons were up 12 percent to 3.015 billion euros, while sales at its Specialist Watchmakers were up 10 percent to 1.002 billion euros. Sales at the group’s ‘Online Distributors’ division, which includes its e-commerce platform YNAP, were up 2 percent to 691 million euros. At Richemont’s ‘Other’ division, which includes its fashion and accessories labels, sales jumped 28 percent to 600 million euros.
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Chinese officials gather Alibaba execs over data heist

Alibaba shares sank on Friday after a report said the tech giant's executives had been called in for meetings with Chinese officials over the theft of a vast police database. A hacker last month put on sale what they claimed was the personal information of hundreds of millions of Chinese citizens -- which, if true, would make it one of the biggest data heists in history. Cybersecurity analysts subsequently confirmed that the data -- partly verified by AFP -- was stored on Alibaba's cloud servers, apparently by the Shanghai police. The company's shares slumped 5.7 percent at the open in Hong Kong on Friday, hours after The Wall Street Journal reported that Shanghai authorities had called in its executives for talks in connection with the heist. The Journal cited unnamed people familiar with the matter as saying the executives included Alibaba Cloud vice president Chen Xuesong, who heads the unit's digital public security work. The report added that senior managers from Alibaba and its cloud unit held a virtual meeting on July 1 after a seller advertised the stolen database in a cybercrime forum. As part of an internal investigation, company engineers have cut access to the breached database and have started reviewing related code, the Journal said, citing employees familiar with Alibaba's response to the hack. The database is believed to have been stored on Alibaba's servers using outdated and insecure technology. Alibaba did not immediately respond to an AFP request to confirm the information in the report. China maintains a sprawling nationwide surveillance network that collects huge amounts of data from its citizens, ostensibly for security purposes. Beijing has passed stronger data protection laws in recent years as public awareness of data security and privacy issues has grown. There are few ways, however, for ordinary citizens to stop the government from gathering information on them. The sample of 750,000 entries posted online by the hacker showed citizens' names, mobile phone numbers, national ID numbers, addresses, dates of birth and the police reports they had filed. The hacker wanted 10 bitcoin -- around 200,000 dollars at the time -- for the entire database. Some of the information appeared to have been drawn from express delivery services, while other data included summaries of police incident reports in Shanghai over more than a decade until 2019. At least four people out of more than a dozen contacted by AFP last week confirmed their details were listed in the database.(AFP)
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FW23 According to trend forecaster Jan Agelink: Nomadic, prints and a futuristic vibe

From left to right: Isabel Marant FW22, via Catwalkpictures.com, Gucci x Adidas via Gucci, Sheltersuit image of Alex Pommier via Sheltersuit and Diesel FW22 via Diesel Trendforecaster's job is not an easy one in these turbulent times. With so much uncertainty in the world, it is difficult to look ahead, reports Jan Agelink of Buro Jantrendman during his online seminar for the FW23 season. "It's a big story because there's a lot going on." Fortunately, consumer trends and themes can indeed be found in today's unsteady world, as it turns out during the presentation. FashionUnited selected a few highlights. Those who attended multiple trend talks during the season will recognize several of the themes and trends that Agelink has spotted. The first theme is a 'nomadic look', which consists of a combination of denim, outdoor, patchwork and quilting. As well as a big element of deconstruction. "The more, the better," says Agelink. In addition to the patchwork, there is also a certain element of folklore to be seen. Sheltersuit presentation in Paris, image by Alex Pommier, via Sheltersuit Sheltersuit presentation in Paris, image Alex Pommier, via Sheltersuit So what are some good examples of this? Take Sheltersuit's first collection of looks, for example, presented at the beginning of this year, or the combination of historical fabrics with sportswear from Ahluwalia. The influences of quilting can also be seen in the Bode brand, from Emily Bode who received the Karl Lagerfeld Award For Innovation at the beginning of this year. Those who want an example of the denim styles within this theme can look at the Glenn Martens collection for Diesel that was shown during Milan Fashion Week in February. Combine all this together and a true 'clochard' look is created, a nice word for bum. Image: Diesel FW22 look, owned by Diesel. Image: Diesel FW22 look, owned by Diesel. Image: Diesel FW22 look, owned by Diesel. Three themes for FW23 according to forecaster Jan Agelink The second theme that Agelink raises for FW23 is 'copycat'. Where you can see a mix of streetwear and a grunge look. For example, there are many protest prints and clothing items that seem to have been hacked. Here too, a strong element of collage is apparent, just like with the first theme. Prints are an important tool within this theme. Not only are the protest prints here, but also the 2D versions of 3D designs (such as the knitted and printed Gucci Loafers) and the body as a print. Don't forget the retro and seventies prints in the range of prints spotted for the season. Recent collections in line with the theme include those from Gucci x Adidas, Y Project, Botter and Loewe. Loewe FW22, image via Catwalkpictures.com Image: Gucci x AdidasImage: Gucci x Adidas The third and final theme of Agelink's presentation has been given the name 'fashionaut'. It is a theme in which future systems are examined. There is also a futuristic atmosphere within this theme through the use of technical materials and silver, but this again finds a combination with earthy materials. For example, the trend forecaster describes very hairy or woolly materials. "There is a fanciful feeling, with exotic, almost alienated structures." More pronounced colors come to the fore in this theme: think of 'Very Peri', the color of 2022 proclaimed by Pantone, soft pink, various shades of green - from moss green and mint to green screen. Brands that fit well with 'fashionaut' are Duran Lantink, Rick Owens, Isabel Marant and Balmain. Alberta Ferretti FW22, image via Catwalkpictures.com Isabel Marant FW22, image via Catwalkpictures.com Fashionauts, copy cats and nomads in FW23 according to Jan Agelink All this takes place against a background of contradiction: people want to stay safe, but also want to be out and show off their bodies. There is an even stronger need for inclusiveness and diversity, which the metaverse and Web 3.0 can also help with as the digital world partly democratizes fashion and allows consumers to experiment with who they want to be. In addition, the 'mixed reality' of the physical world that clashes with the digital world is a major underlying factor for the trend forecast for FW23. Mix an element of sustainability and circularity there and you have the current combination that sets the tone. Agelink warns: "It cannot be underestimated how informed consumers are about materials and sustainability." Therefore, for the future, Agelink sees an even larger share of track & trace in the fashion industry where even more items have a qr code and a blockchain with all the information about the garment. Whether you choose to take inspiration from the nomadic theme, opt for an abundance of prints from the 'copycat' theme or take the futuristic atmosphere of 'fashionaut', the FW23 season promises plenty of inspiration. This article was originally published on FashionUnited.NL, translated and edited to English by Kelly Press.
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Columbian designers shine at Miami Swim Week

Image: Alma Arena Miami Swim Week, a key event in the swimwear and resortwear calendar, has seen a surge in Columbian designers since it fostered a partnership with a government body that promotes Latin American designers. Now in its third year, 10 Columbian designers showed runway collections, as part of a union between ProColombia and Paraiso Miami Beach. “The Colombian fashion industry has been gaining worldwide recognition over the last decade, currently we are the number one swimwear provider in Latin America for the United States and number 9 provider worldwide,” says Flavia Santoro, president of ProColombia, the government agency in charge of promoting Colombian exports internationally. “Our country offers unique swimwear designs at the forefront of global trends, incorporating innovative techniques and sustainable fabrics and practices. We are also well-known for our delivery times and our flexibility in production volumes. Specifically in the U.S., our swimwear sector, between January and May of 2022, has grown over 70 percent compared to the same period in 2021 and reached exports over 8 million dollars.” Brands including Alma Arena, Bahama Mama, Bahia Maria and Palmacea Swimwear all showed collections on the runway. The global swimwear market is set to grow 6.63 billion dollars between 2021 and 2026, according to data from Technavio. The increasing demand for long-sleeve swimsuits is one of the key drivers fueling the swimwear market growth, the company said in a report.
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Nike debuts new Nike Style retail concept in Seoul

Image: Nike Style store, Seoul Sportswear giant Nike has revealed a new store concept in Seoul, South Korea, that is set to expand internationally. Opened July 15, the ‘Nike Style’ concept looks to “expand the definition of sport”, the brand said in a release, blurring the lines between physical and digital. A highlight of the concept is the retailer’s gender-agnostic zones for fleece, tops, sport lifestyle footwear and accessories, as well as for locally curated collections. Digital-physical spaces within the new store include a content studio for local creatives and shoppers, allowing visitors to create content for their own social channels. Additional QR codes located throughout the store offer augmented reality experiences related to product innovation and displaying art installations. Furthermore, Nike Style will also feature community-centred initiatives such as ‘Nike By You’ workshops and ‘Snkrs Lounge’ events. It builds on Nike’s relationship with Seoul, through which it has launched a number of retail concepts and experiences. A second Nike Style concept is set to open in Shanghai in autumn 2022, with the brand also expecting to expand the concept to other countries in the future. Image: Nike Style store, Seoul Image: Nike Style store, Seoul Image: Nike Style store, Seoul
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Inversa Leather expands invasive species leather, adds Dragonfin

Image: Inversa, Dragonfin leather Exotic leather manufacturer Inversa has announced that it is adding to its capabilities with a new invasive species, Dragonfin. The firm entered the market in December with an alternative leather made from the invasive Lionfish, a species running rampant in various global oceans and causing increasing damage to coral reefs. Its second venture, Dragonfin, a relative of the Carp, is similarly considered an invasive and has caused damage to native species since it was intentionally imported from Southeast Asia to aquatic vegetation ponds in the US. While initially used to manage the ponds, flooding in the 1990s allowed the fish to move to the Mississippi River where it outcompetes other species and is degrading the water quality by killing off sensitive organisms. According to a statement from Inversa, the company’s new Dragonfin hide will contribute to protecting up to 150 native fish and endangered freshwater species, as well as a 500 billion dollar economy dependent on the Mississippi River. The leather manufacturer, which was founded in 2020, has secured partnerships with the likes of Trenton Leather Co. and Italian footwear label P448, for which its collaboration has just launched.
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Amazon sold over 300 million items at its Prime Day event

Image: Courtesy of Amazon Amazon sold 100,000 items per minute over its Prime Day sales bonanza, totalling over 300 million items purchased around the world. The e-commerce giant said it was its most successful Prime Day event to date, taking in 3 billion dollars of revenue. “Prime Day is a celebration of our Prime members, who look forward to this event every year, and we’re thrilled to have delivered incredible savings to them once again,” said Doug Herrington, CEO of AmazonWorldwide Stores. “This special event is made possible because of the support of our employees, vendors, and sellers, and I want to give a big thank you to all of them for making this a Prime Day to remember.” Many shoppers took advantage of the savings, buying household products that in times of inflation have seen prices soar. Insights from Numerator show the average order size was 52.26 dollars, up 17 percent from 44.75 dollars compared to Prime Day 2021. Nearly two-thirds (62 percent) of households shopping Prime Day placed 2 or more separate orders, bringing the average household spend to roughly 144.56 dollars. A total of 58,934 Prime Day orders were placed. 25 percent of shopper purchased apparel and shoes, just below the 28 percent shopped for health and beauty. The most popular category was household goods with 29 percent of shoppers making purchases. Amazon has over 200 million paid Prime members.
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Riskified partners with Axerve to aid in SCA compliance

Image: Kiko Milano, Facebook Fraud management platform Riskified has revealed a new partnership with Axerve allowing for its machine learning solutions to be used by the Italian payment hub’s clients. The partnership includes Riskified’s PSD2 Optimize solution, which aims to help brands navigate the European Union’s (EU) Payment Services Directive (PSD2), a revised European law that looks to regulate payment services in the market. According to Riskified, since compliance with PSD2 regulations, Strong Customer Authentication (SCA) requirements have become more complex for merchants. In response, the platform’s PSD2 solution intends to help merchants tackle this complexity through leveraging Transaction Risk Analysis (TRA) exemptions, enabling low-risk orders and legitimate users to access “seamless and secure” payment experiences. Axerve’s first client to use the feature, beauty retailer Kiko Milano, said it saw an exemption of nearly 99 percent of orders from SCA using TRA, and a further 10 percent increase in approval rates for transactions, according to a press release. “When PSD2 went live, Axerve notified us that our denied transactions rate was quickly increasing, and our customer care team also alerted us that the number of tickets opened by customers was multiplying four-fold,” said Diego Morgandi, e-commerce director at Kiko. Morgandi continued: “The benefits from PSD2 Optimize were immediate. We saw a reduction in failed transactions that drove the approval rate up and allowed us to grant our customers a real frictionless checkout experience. This partnership is key for us to succeed.”
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Burberry appoints Danuta Gray as chair of the remuneration committee

Image: Burberry, Facebook Burberry Group plc has announced that Danuta Gray will succeed Orna NiChionna as chair of the remuneration committee with effect from September 1, 2022. The company said in a release that Gray has been a member of the remuneration committee since her appointment to the board on December 1, 2021. The company added that NiChionna will remain on the board as senior independent director and as a member of the remuneration and nomination Committees. Gray has previously served on a number of remuneration committees including as chair of the remuneration committee at Direct Line Insurance Group plc, Old Mutual plc and Page Group plc.
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Burberry drops virtual handbag collection on Roblox

Image: Burberry In Pictures Burberry has dropped a virtual handbag collection taking inspiration from its Lolo bag on the open-world platform Roblox. The exclusive limited-edition virtual Lola range is comprised of five unique handbags drawing on Burberry’s spirit of adventure and affinity for nature and the outdoors. The virtual bags have been created in partnership with one of the Roblox community’s most established digital fashion designers, @Builder_Boy and are crafted from materials including clouds, water and wild foliage. Image: Burberry Each bag will only be available to purchase for 24 hours, from July 11 to 15, in the Roblox Avatar Marketplace for 800 Roblox, which costs around 8.99 pounds. The digital fashion items will then be owned on the Roblox platform and members will be able to dress their avatars with the handbag. Rachel Waller, vice president of channel innovation at Burberry, said in a statement: "We are thrilled to partner with Roblox to share a virtual handbag collection and to bring our iconic Lola bag to life in an entirely new creative way. The expression of our digital personas is a fascinating concept and one which we know is increasingly important to our customers. “Roblox is a platform built on imagination, community and creativity pillars which are central to our brand, and we’re delighted to bring our virtual products to this community.” Image: Burberry Burberry launches digital fashion with Roblox As part of the collaboration, each handbag is accompanied by an exclusive emote, a unique action that avatars can perform on Roblox, available to users for free for a limited time. The distinctive movements, such as levitation or dance, mirror each handbag’s design theme. Christina Wootton, vice president of global partnerships at Roblox, added: “For our global community of over 50 million daily active users, self-expression through digital fashion and personalization of avatars is an important part of their day-to-day experience on the platform. “Roblox enables people to be whoever they want to be, create and experiment with personal style and fashion. We are excited to welcome Burberry to our platform with this creative accessory line that expands our already vast collection of avatar personalization options with luxury items created in collaboration with our community.” Image: Burberry This isn’t Burberry’s first foray into digital fashion and follows the luxury house’s earlier virtual experiences, including releasing its first online game, B Bounce, in October 2019, followed by its extension Ratberry, in celebration of Chinese New Year, in January 2020. In July 2020, Burberry also introduced its first multiplayer game, B Surf, developed in-house by Burberry’s digital teams to support the TB Summer Monogram campaign. In August 2021, the fashion label launched its first in-game NFT collection in partnership with Mythical Games, and in June this year, Burberry continued its partnership to release a second NFT collection in its flagship title, Blankos Block Party. The collection included a limited-edition Burberry Blanko, a unicorn named Minny B, and a selection of Burberry branded in-game accessories that players could add to their virtual portfolio. Image: Burberry Image: Burberry Image: Burberry
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Latin American Fashion Summit partners with Luxury Stores at Amazon

Image: Alexandre Birman, courtesy of Madison McGaw/BFA.com In a bid to bring Latin American designers to customers, Luxury Stores at Amazon has announced a new collaboration with the Latin American Fashion Summit (LAFS). The partnership with the multiplatform will allow Amazon customers to purchase from Latin American designers such as Alexandre Birman, Silvia Tcherassi, Adriana Degreas and Maygel Coronel. It comes as part of LAFS’ mission to elevate and enrich the Latin American fashion industry. To celebrate the launch, Alexandre Birman hosted an intimate dinner party alongside Amazon, with a string of famous guests such as models Martha Hunt and Richie Shazam. “This was an unforgettable night celebrating our launch on Luxury Stores at Amazon,” said Birman, in a release. “I know my parents, especially my father and mentor who taught me my craft, would be proud of this moment.” The initiative builds on the new Luxury Stores concept for Amazon, which launched the platform as a way to feature both established and emerging luxury brands on its site. Products are all sold directly to consumers from the luxury brands and authorised retailers, ensuring authenticity, Amazon said.
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On, Patagonia, Puma and Salomon link with Carbios to enhance product circularity

Image: Puma Carbios has revealed it has signed a consortium agreement with On, Patagonia, Puma and Salomon which will see the apparel companies collaborate on enhancing the recyclability and circularity of their products. As part of the two-year deal, each of the companies have agreed to speed up the introduction of Carbios’ bio recycling technology. Additionally, the partnership will involve co-researching how products can be recycled, with the goal of developing solutions to take back worn polyester clothing, and gathering data on fibre-to-fibre recycling. “This Consortium model has proved to be very efficient based on the success of the milestones previously achieved in packaging,” said Emmanuel Ladent, CEO of Carbios, in a release. Ladent continued: “We are very pleased to partner with these prestigious brands. Our common goal is to contribute to reducing the environmental impact of the textile industry by offering an industrial solution to recycle polyester fibres and help our partners to meet their sustainable development goals.” According to Carbios, a future challenge to be potentially faced in the fashion industry is the shortage of PET bottles – which will be used for circular production in other industries – something the recycling firm relies on for its production process. Carbios extracts the PET polyester from textile waste through the use of enzymes, using the resulting fibres to make new products. On’s senior sustainability manager, Adrianne Gilbride, also commented on the formation of the consortium, furthering the sportswear company’s goal to become fully circular before the end of the decade. Gilbride added: “Our partnership with Carbios and the other consortium members is an important step towards enabling the industry to game-changing circular technologies at scale. Fibre-to-fibre recycling is a key building block in closing the loop within the textile and footwear industry".
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Christiana Smith Shi joins Columbia Sportswear Company’s board of directors

Image: Columbia Facebook-Page Columbia Sportswear Company’s board has appointed Christiana Smith Shi to serve as a director and member of its audit committee, effective July 8, 2022. “Christiana’s deep direct-to-consumer experience will be a tremendous asset to our board as we look to grow that portion of our business,” said the company’s chairman, president and CEO, Tim Boyle in a staement. Shi is the principal at Lovejoy Advisors, LLC, an advisory services firm focused on digitally transforming consumer and retail businesses, which she founded in 2016. Previously, she served as president, direct-to-consumer at Nike, Inc. from 2013 until 2016 after serving in various roles beginning in 2010. Shi serves on the board of directors, governance and people committee and compensation committee of Mondelēz International, Inc. She also serves on the board of directors, compensation and human capital committee and risk committee of United Parcel Service, Inc.
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True Religion names new CFO and COO

Image: True Religion, Facebook US denim and sportswear brand True Religion has appointed Sandip Grewal to the newly created, joint role of chief financial and chief operating officer, effective July 5. Grewal joins from houseware supplier Bradshaw International, where he has served as CFO since 2017, during which time the company completed two acquisitions and grew its revenue by more than 50 percent. Prior to joining Bradshaw International, Grewal served as CFO of oral care company Dr. Fresh LLC. Commenting on the appointment in a release, he said: “I am excited to join True Religion as it continues its remarkable transformation. It’s a brand that, after 20 years, has such a bright future ahead. I look forward to working with Michael and the rest of the team to help unlock even greater growth and value creation.” True Religion CEO Michael Buckley said: “Sandip’s impressive credentials and innovative thinking made him the perfect executive to take on this important new role. “He brings more than 30 years of leadership experience in both private and public companies, including private equity portfolio companies, where he has driven growth, built best in class financial teams, increased operating efficiencies, and completed multiple acquisitions.”
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Idris and Sabrina Elba launch genderless skincare line

Image: S'able Labs' Idris and Sabrina Elba, courtesy of Alex Piper Actor Idris Elba and his model wife Sabrina have revealed an expansion of their lifestyle brand S’able Labs with the launch of an inaugural vegan collection of genderless skincare products. Consisting of a Qasil Cleanser, Black Seed Toner and Boabab Moisturiser, the line aims to provide shoppers with an environmentally conscious skincare regime that has been designed with the intention of appealing to people of all ethnicities, genders and backgrounds. A selection of ingredients used for the three products are sourced in collaboration with international smallholder farmers, said a press release. “I grew up watching my mother mix up various lotions and masks, indulging her skin with techniques and ingredients that had been passed down from generation to generation,” said Sabrina, who is also a social media personality and actress. “I wanted to incorporate some of this knowledge into our skincare range, which we hope to expand in the future.” The product range is additionally packaged using post-consumer materials, with further refill options for its toner and moisturise to be made available in September. The husband-wife duo founded S’able in 2020 in a bid to explore healthy partnerships and mutual support in a business setting. The company has previously launched lifestyle products and established partnerships with organisations all with the mission to make personal well-being accessible to a diverse audience. The Elbas join a growing number of celebrities and public figures in launching beauty and cosmetics products over the past months, most recently including Hailey Bieber and Kim Kardashian.
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Latin American Fashion Summit partners with Amazon Luxury Stores

Image: Alexandre Birman, courtesy of Madison McGaw/BFA.com In a bid to bring Latin American designers to customers, Amazon Luxury Stores has announced a new collaboration with the Latin American Fashion Summit (LAFS). The partnership with the multiplatform will allow Amazon customers to purchase from Latin American designers such as Alexandre Birman, Silvia Tcherassi, Adriana Degreas and Maygel Coronel. It comes as part of LAFS’ mission to elevate and enrich the Latin American fashion industry. To celebrate the launch, Alexandre Birman hosted an intimate dinner party alongside Amazon, with a string of famous guests such as models Martha Hunt and Richie Shazam. “This was an unforgettable night celebrating our launch on Luxury Stores at Amazon,” said Birman, in a release. “I know my parents, especially my father and mentor who taught me my craft, would be proud of this moment.” The initiative builds on the new Luxury Stores concept for Amazon, which launched the platform as a way to feature both established and emerging luxury brands on its site. Products are all sold directly to consumers from the luxury brands and authorised retailers, ensuring authenticity, Amazon said.
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Resale marketplace The Luxury Closet launches in the UK

Image: The Luxury Closet The Luxury Closet, the global resale marketplace for luxury and designer pre-owned fashion, has launched in the UK as part of the company’s ongoing expansion plans, which will see it launch in additional markets within Europe later in the year. The platform, founded by Kunal Kapoor in 2012 in Dubai, quickly became the largest luxury resale marketplace in the Middle East, while growing its clientele across the Americas, APAC and Europe. It currently has a global community of 15 million. The Luxury Closet is also the chosen partner of FarFetch for its Second Life service in the Middle East. The UK launch will give British clients access to The Luxury Closet’s desirable pre-owned inventory, which includes brands such as Hermes, Rolex, Cartier, Gucci and Dior, while also allowing them to tap into the marketplace's popular VIP concierge service. Image: The Luxury Closet Commenting on the company’s expansion, Kunal Kapoor, chief executive and founder of The Luxury Closet, said in a statement: “The launch represents an important milestone in our journey as we further expand within Europe and welcome UK customers to our global community. “The launch will give UK customers the opportunity to enjoy our exceptional white glove concierge service for the first time whilst also accessing our incredible catalogue of pre-owned designer pieces sourced from some of the world’s most desirable closets.” Image: The Luxury Closet The Luxury Closet allows consumers to buy and sell pre-owned designer fashion and has become known for its white glove concierge service, highly desirable designer inventory, exceptional customer experience and its rigorous authentication process. The platform also offers a unique feature where it tracks trending pieces week-by-week and offer sellers an instant cash payout for the most popular pieces to ensure buyers can pick up the hottest styles at accessible prices.
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Coca-Cola unveils Disneyland Paris collaboration

Image: Highsnobiety / Coca-Cola and Disneyland Paris ‘Classic Paris’ In Pictures Coca-Cola and Disneyland Paris are launching a collaborative capsule collection, ‘Classic Paris’ to celebrate the entertainment resort turning 30 years old this year. The limited-edition eight-piece, 90's-inspired apparel and accessories collection, centres on modern classic silhouettes and includes baseball caps, crewnecks, straight-cut T-shirts and hoodies. The pieces feature Coca-Cola and Disneyland Paris branding, which for the first time, have been reimagined as a joint logo and are available in washed red, grey and egg-white colourways, a take on the iconic palettes of both Coca-Cola and Disneyland Paris. Image: Highsnobiety / Coca-Cola and Disneyland Paris ‘Classic Paris’ Aylin Kosova Bilgin, head of Coca-Cola, Europe, said in a statement: “We’re excited by the launch of the collection with Disneyland Paris as there is a striking simplicity in two brands, both well versed in driving the cultural conversation, coming together to create real magic in a new and unexpected way. “Coca-Cola has always been a part of the conversation around fashion and for a brand with our heritage, we’re continually innovating to find new ways of showing up in the cultural conversation to surprise the next generation of tastemakers. The ‘Classic Paris’ collection is a fun step-change and reflective of our real magic proposition, whilst still remaining true to a culturally connected audience.” The collaboration has been curated by fashion and lifestyle platform, Highsnobiety, as part of its ‘Highsnobiety’s (Not) in Paris,’ the fourth installation of its series of bi-annual digital exhibition, commerce and experiential programming celebrating fashion during Paris Fashion Week Men’s SS23 season. Image: Highsnobiety / Coca-Cola and Disneyland Paris ‘Classic Paris’ Laure Albouy, vice president of business strategy and integration at Disneyland Paris, added: “I am particularly excited and proud to celebrate the launch of our exclusive co-branded fashion collection with our historical alliance partner Coca-Cola. This is a first for Disneyland Paris and a trendy tribute to the 30 years of the sparkling collaboration between our iconic brands. As cultural pioneers, we are creating real magic together celebrating the timelessness of our relationship.” Coca-Cola and Disneyland Paris have had a relationship since 1992 and past collaborations have included special bottle designs, homeware and accessories. The ‘Classic Paris’ collection will be available via Coca-Cola's concept store in Covent Garden, London, online at Highsnobiety's shop from July 15 and at the Disney Fashion Shop from July 19 at Disneyland Paris. Image: Highsnobiety/Coca-Cola and Disneyland Paris ‘Classic Paris’
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Inflation bites into UK's post pandemic retail recovery

Image: FashionUnited New data tracking the UK’s retail sales shows the high street is at its lowest growth since the pandemic. Figures from BDO’s High Street Sales Tracker show like for like sales increased by 8.4 percent in June, the lowest since February 2021. Footfall was down 10.5 percent in June compared to three years previously, with soaring inflation, political upheaval and increasing interest rates affecting consumer purchasing. The news is not all bad, with the fashion sector recording a total sales growth of 15.2 percent, the 16th consecutive month of positive BDO figures. Categories including homewear and lifestyle fell, with consumers holding back big ticket spending. Current inflation is measured at 9.1 percent and is forecast to rise to 11 percent as the year progresses. Sophie Michael, head of retail and wholesale at BDO, said: “These results confirm that the outlook for retailers is of concern. With consumer confidence at historically low levels, real wages falling to a 20-year low and interest rates set to rise further, there are few signs of encouragement for retailers.” Sales of fashion have remained upbeat “The fashion sector has undoubtedly been boosted by consumers refreshing their wardrobes for summer holidays. However, the weak sales growth for online retailers and the negative results for the homewares sector are key indicators that consumers are tightening their purse strings on discretionary spend and in particular on big ticket items.” Data released by the British Retail Consortium (BRC) shows high street footfall was down 13.9 percent compared to June 2019, while shopping centre visits were down 24.1 percent. BRC chief executive Helen Dickinson said: “Rising inflation, particularly soaring energy costs, is limiting customer spending power and damaging consumer confidence. This is only set to worsen in October as the energy price cap rises and the colder weather increases usage. With many people struggling, retailers are doing all they can to support their most vulnerable customers – from expanding value ranges to offering discounts to vulnerable groups, raising staff pay and investing in lower prices for the future.”
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Joules calls in advisors as cost-of-living crisis deepens

Image: Joules AW21 Lifestyle group Joules has confirmed it has appointed debt advisory firm KPMG to assist in improving profitability for the company. Joules’ statement comes as a response to an article published by The Sunday Times that said the “struggling” British firm had called in advisers to “shore up” its cash position. However, the group hit back at the report stating that it expects to have “sufficient liquidity” in order to manage its working capital requirements over the coming period. In its statement, Joules said: “As of 29 May, the group had a net debt of 21.4 million pounds, giving 11.3 million pounds headroom within its banking facilities, in line with the board’s expectations. Whilst the group continues to manage its cash resources carefully over its seasonal borrowing peak, it expects to have sufficient liquidity to manage its working capital requirements over this time.” KPMG has been tasked with aiding the heritage brand in improving its profitability, cash generation and liquidity headroom. Continues adapting business strategy In its recent statement, Joules noted that it was making “good progress” in terms of its previously announced initiatives which centre around simplifying the business and “optimising the cost base to improve long-term profitability”. The strategy includes implementing “significant” changes to its wholesale operations, including a focus on fewer accounts, and improving its end-to-end product process, with the priority of reducing costs and shortening lead times. The news follows a profit warning issued by Joules on May 4, with the company citing that the cost-of-living crisis was impacting its sales across its full-price range and gardening products. Joules shares have also declined dramatically since the beginning of 2022, dropping from 144 pence at the start of the year to 25,50 pence as of Monday, July 11. The slump was further heightened in May by the announcement that the group’s CEO Nick Jones was planning to exit the business during the first half of its next financial year. At the time of the announcement, Jones said Joules would continue to deliver its priorities to achieve its long-term potential, as he and the board looked to help the business “navigate the current challenging trading environment”.
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Kinnevik's net asset value declines by 10 percent in Q2

In the second quarter, Kinnevik reported net asset value (NAV) of 61.1 billion Swedish krona or 218 Swedish krona per share, down 6.7 billion Swedish krona or 10 percent and down 11.3 billion Swedish krona or 16 percent year-to-date. The company’s net cash position was 13.6 billion Swedish krona, including the proceeds from Tele2 sell-down and received dividends, corresponding to 28 percent of portfolio value by quarter-end. ”As we close out the first half of 2022, our environment is radically different to where we were one year ago. The aftermath of the covid pandemic with inflationary pressure, challenged supply chains and rising interest rates, exacerbated by the war in Europe, has put strong pressure on the valuations in our pocket of growth equity markets,” said Georgi Ganev, CEO of Kinnevik in a statement. Highlights of Kinnevik’s Q2 investments The company made a follow-on investment in Budbee, valuing the company at 7.3 billion Swedish krona. Kinnevik also participated in Mathem’s funding round valuing the company at 2.3 billion Swedish krona, in line with the company’s first quarter 2022 valuation. The company divested 27 percent of its shareholding in Tele2 for 6 billion Swedish krona, providing additional financial strength at a time of market uncertainty. Kinnevik invested a modest 0.5 billion Swedish krona during the quarter, reflective of the current funding environment, of which 155 million Swedish krona into Mathem and 115 million Swedish krona into Budbee. For the first half of 2022, the company invested 2.1 billion Swedish krona in aggregate.
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New Hulu documentary: Victoria's Secret: Angels and Demons

Image: Hulu Victoria's Secret documentary According to the producers of latest fashion documentary, Victoria's Secret: Angels and Demons, the show could not go on. A behind the scenes look at the rise and fall of Victoria’s Secret, which debuts on Hulu this week, the underworld of fashion, the billionaire class, and Jeffrey Epstein are revealed to all be inextricably intertwined in this legendary brand that spectacularly fell out of favour. The three-part documentary premieres on July 14th and will reportedly unveil some of the mysteries of former CEO Leslie Wexner's relationship with disgraced financier Epstein and chart the brand’s downfall after its out-dated approach to sexuality and lingerie fell out of touch with customers embracing diversity. Victoria’s Secret, currently in its second act, has made great strides in the past two years to leave its troubled past behind, hiring an all female executive team and redefining ‘sexy’ by putting its angels to rest. The documentary follows that of Netflix show Abercrombie & Fitch "White Hot", which debuted last month, a behind the scenes look at the the brand's pop culture reign in the late '90s and early 2000s and how it thrived on exclusion.
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Afro Fashion Association partners with Trussardi on diversity initiatives

Image: Sebastian Suhl and Michelle F. Ngomno A new partnership between the Afro Fashion Association and Italian luxury house Trussardi will see the duo partner over the course of three years on a series of diversity-centred initiatives. Established by the association’s president Michelle F. Ngomno and the fashion brand’s CEO Sebastian Suhl, the agreement spans projects focused on tackling diversity and inclusivity issues and global citizenship education, each with a particular focus on the fashion sector. “Synergies such as this one are crucial elements in the perspective of a business system that is truly sustainable all round,” said Ngomno, in a release. “It is a first step that shows how brands have finally decided to take this path and embrace the multiplicity of talents and profiles that the ecosystem of our country offers. There is a concrete and active awareness that diversity is an essential value for the future of our country’s system.” The partnership consists of initiatives promoting diversity and inclusion within the fashion industry, mentorship and coaching for emerging talents, driving projects in the art and cultural world and scouting new multicultural individuals in the creative sector. Additionally, the two will work together on a series of workshops for Trussardi’s C-suite, ‘Next Level Leadership’, in which participants will explore the challenges of being a multicultural leader. Trussardi’s Suhl said the agreement was a very important step for the brand in promoting its policies of inclusion, adding that the company has “found in Afro Fashion Association a perfect partner”.
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Hugo reveals collaborative capsule with Mr. Bathing Ape

Image: Hugo x Mr. Bathing Ape German fashion label Hugo has revealed a new collaboration with Mr. Bathing Ape, the formalwear arm of popular streetwear brand A Bathing Ape (BAPE). The limited edition capsule collection sees the duo bring together their individual aesthetics to offer a reinterpreted take on streetwear style. Releasing for pre-fall 2022, pieces in the line reimagine the staple BAPE Camo pattern using Hugo’s signature red hue, with each item complete with the new branding. The collection consists of hoodies, sweatpants, caps, socks and logo t-shirts, as well as accessories, including a skateboard, caps, socks and bodywear basics. To launch the line, Hugo and BAPE came together for a virtual metaverse event in ComplexLand, an online open-world platform by culture-led media publication Complex. During the event, attendees were able to make their own retail experience within the virtual world while shopping the collaborative collection at Hugo’s in-experience pop-up, where they could dress their avatars in Hugo x Mr. Bathing Ape hoodies.
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