Zero10 and Crosby Studios open pop-up with digital-only apparel

Image: Zero10 x Crosby Studios Zero10, an augmented reality (AR) fashion platform, has revealed a new partnership with Crosby Studios which will see the duo collaborate on a pop-up store concept that brings together a physical and virtual retail experience. The store, located in New York’s Soho neighbourhood, will feature a five-piece virtual collection, available to purchase on-site, and an interior designed by Crosby Studios. Items include a chequered suit, light shirt, pixel leopard hoodie, disappearing pants and video game pants, with looks also incorporating Crosby Studios’ signature 90s video game print. By utilising Zero10’s proprietary AR technology, shoppers will have the opportunity to try on the digital-only clothing within the concept space. The store itself is designed to be interactive, with tech-forward fitting rooms, a bubble tea bar and an area to meet with friends. To try pieces on, guests must scan QR codes which will lead them to Zero10’s app where they can then sport the items in real-time or via a photo. Three items will be free-of-charge to fit and save to a virtual wardrobe in the app, while one item must be purchased prior to trying on and another will be available as a limited edition collection of non-fungible tokens (NFTs). The pop-up will be open September 7 to 18, during which time the collection will only be available in-store. However, once the space closes, the looks will be available to shop via Zero10’s app.
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Richemont to sell YNAP stake to Farfetch and Alabbar

Image: Richemont; Johann Rupert Luxury conglomerate Richemont has confirmed that it is selling its stake in online fashion retailer Yoox Net-A-Porter (YNAP) to Farfetch and Alabbar, while also announcing its brands and YNAP will be switching to Farfetch Platform Solutions as part of its Luxury New Retail vision. Richemont said in a statement that Farfetch will acquire a 47.5 percent stake in YNAP, while Symphony Global, one of the investment vehicles of Mohamed Alabbar will take 3.2 percent, meaning that YNAP will be a neutral platform with no controlling shareholder. The deal also laid the path, through a put and call option mechanism, towards Farfetch potentially acquiring the remaining shares in YNAP. Johann Rupert, chairman of Richemont, said: “Today’s announcement is a significant step towards the realisation of a dream I first voiced in 2015 of building an independent, neutral online platform for the luxury industry that would be highly attractive to both luxury brands and their discerning clientele. “We knew back then that if we wished to control our own destiny and protect the uniqueness of the luxury industry as it was digitalised, we would need to collaborate as the task was too big to undertake on our own.” Farfetch and Alabbar acquire stakes in Yoox Net-A-Porter The luxury giant, which owns brands including Cartier, IWC and Van Cleef & Arpels, said the partnership will also allow Richemont and YNAP to leverage Farfetch’s technology platform to advance its Luxury New Retail programme. YNAP will adopt Farfetch Platform Solutions to facilitate its shift towards a hybrid retail-marketplace model, with Richemont adding that the move will “significantly advance” the roll-out of YNAP’s marketplace offering, as Farfetch’s platform is already connected with the inventory of many of its luxury brand partners. This shift to a first-party curated inventory ownership for YNAP with a third-party e-concession/marketplace offering is expected to improve YNAP’s financial performance, added Richemont, while also enriching the shopping experience for its customers. YNAP and Richemont Maisons’ to use Farfetch Platform Solutions The partnership also marks a step change in Richemont Maisons’ omnichannel distribution capabilities, with the luxury group adding they will use Farfetch’s technology platform to advance the delivery of its omnichannel strategies for its brands, which will also join the Farfetch Marketplace. Richemont said that the Farfetch platform was “well-positioned to deliver end-to-end capabilities for the luxury industry,” and envisions "further collaboration on innovative technology solutions" will be made available to luxury brands and retailers to meet the increasing omnichannel demands of the luxury customer. Rupert added: “Farfetch’s sophisticated technology will enable Richemont Maisons to benefit from the best route to market and realise their Luxury New Retail vision, while implementing a hybrid model at YNAP will greatly enhance its prospects.” The addition of Richemont Maison’s e-concessions on the Farfetch Marketplace will also boost Farfetch’s offering, especially for watches and jewellery. The retail group stated that the move is a “step change” in its strategy to target hard luxury, which has a growing customer demand and represents more than 20 percent of the luxury industry globally but currently makes up just 3 percent of Farfetch’s sales. Farfetch founder, chairman and chief executive, José Neves, said that the deal “unequivocally establishes Farfetch as a pre-eminent global platform for luxury,” and that his company was “excited to acquire 47.5 percent of YNAP and partner with Richemont in YNAP’s transformation into a hybrid business model which we believe will drive strong growth and profitability for YNAP”. Neves added: “This investment and work we will do with Farfetch Platform Solutions for YNAP will pave the way to a potential acquisition by Farfetch, which would create a complementary portfolio of iconic luxury destinations, appealing to different demographics, price points and regions. “Our Farfetch Platform Solutions’ capabilities are perfectly tailored to the luxury industry, and that has now been recognised by Richemont’s Maisons as well as pioneering luxury e-tailer YNAP, who will all be able to elevate the digital experiences of their global customers.”
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New York Textile Month spotlights Belgian design, curated by Lidewij Edelkoort

Image: The Gift to be Simple New York Textile Month with see a special exhibition celebrating the craft of Belgian design, curated by Lidewij Edelkoort and Philip Fimmano. Titled The Gift to be Simple, the exhibition features nine designers, who work with a variety of fabrics and textiles, from leather and raffia to hand-threaded linen rugs and clay lamps. Belgium has long been a source of inspiration in textiles and still has a thriving flax, linen and weaving industry, even if the spinning factories no longer exist. Like its fashion counterpart, a new generation of Belgian textile designers are creating works that very much embrace the future with their material research and experimental approaches. New York Textile Month was founded by Ms Edelkoort, and the September edition will be its 7th outing, with the aim to celebrate textile creativity and promote textile awareness. In a manifesto Ms Edelkoort says today’s artists no longer know the materials they work with. She calls for a renewed interest in material processes, with fashion design starting to focus on fabric, interior design bringing back upholstery and art students reaching out the loom. Natalia Brilli, one of the exhibitors, may be best known for her erstwhile fashion label. She now creates beautiful objects sheathed in upcycled leather, like tapestries and raffia objects made in a family workshop in Madagascar and hand-finished in Belgium. Her work oscillates between surrealist and symbolic influences and always urges a second glance. Brussels-based textile designer Laure Kasiers creates and manufactures carpets and other textile objects in her studio. Using linen in unconventional and artisanal techniques, she creates shapes and patterns that are mostly organic, as if they came from nature, like a subtle degrade rug that oozes timelessness and craft. Other designers in the exhibition are Emma Cogné, Design for Resilience, Vanessa Colignon, Charlotte Lancelot, Geneviève Levivier, Pascale Risbourg, Alexia De Ville and Céline Vahsen. Textile design, recontextualised. Whether it is in furniture, wall hangings or artistic installations, traditional ideas of Belgian textile design are being confounded and recontextualised, with the event in New York showing that the discipline is spinning, weaving and meshing new stories. The exhibition is part of an initiative by Belgium is Design, which promotes Belgian design around the world and is an initiative of 3 institutions: Flanders DC, MAD – Home of Creators and Wallonie-Bruxelles Design Mode (WBDM). The latter is a platform that supports the internationalisation of designers and firms in the fashion and design sectors in Wallonia and Brussels. The exhibition The Gift to be Simple will show at New York Textile Month from 2 – 10 October at 138 Wooster Street in Manhattan.
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Marks & Spencer gender neutral changing room policy sparks online debate

Image: Marks & Spencer Marks & Spencer has become the centre of a heated online discussion after the topic of its gender neutral changing room policy arose on Twitter this week, despite it being in place for almost three years. It came following the retailer’s response to a complaint from a customer that had asked for confirmation of privacy in the gender neutral format. A spokesperson for Marks & Spencer responded to the Tweet stating: “In all of our stores, we have fitting rooms located within our womenswear and menswear department and each is made up of individual lockable cubicles to ensure every customer feels comfortable and has the privacy they need. “While they are mainly used by customers of that gender, as an inclusive retailer and in line with most other retailers, we allow customers the choice of fitting room.” The hashtag ‘#boycottMarksandSpencer’ began making its rounds on the social media platform, with responses from hundreds of users expressing a divided opinion on the matter. One Tweet by a user named Tractor Girly read: “I would be happy to #boycottMarksandSpencer because they haven’t considered the feelings of the millions of women who shop there. Seems a bit like misogyny to me. Women will not put up with this anymore. Listen to our concerns. Be a champion of change for the betterment of us.” Meanwhile, Twitter user Louise LaTran used the hashtag to outline her support of the policy, stating: “Just dropping #boycottMarksandSpencer to say that my experience as a trans woman shopping with M&S has been nothing but a pleasure – their staff/policies really are as super friendly and supportive as the anti-LGBTQ fauxrage today are making out.”
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URW sells Californian retail park for 537.5 million dollars

Image: URW - Westfield Santa Anita Unibail-Rodamco-Westfield (URW) has sold Westfield Santa Anita for 537.5 million dollars to a real estate investor who operates retail assets in Southern California. The sale was funded by the buyer through the combination of equity and new debt, reflecting a sub-six percent net initial yield and a 10.7 percent discount to the latest unaffected appraisal. The 1.48 million square foot property is 96 percent leased and, according to URW’s press release, posts sales of 611 dollars per square foot. The group said that its 2022 H1 sales reached 93 percent of 2019 levels. Eastdil Secured, the firm which advised URW during the sale, added that the transaction was the largest for a mall in the US since 2018. The sale comes as part of URW’s goal to streamline its regional asset portfolio, falling in line with its deleveraging programme that looks to radically reduce its financial exposure to the US. In total, the group said it has made 0.9 billion dollars of disposals in the US since 2021, including the transfer of ownership of five other regional properties. Similarly, in Europe, URW has made 3.2 billion dollars of its four billion dollar target of disposals.
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Gap remains 'cautiously optimistic' about FY22 results

Image: Gap store on Oxford Street Second quarter net sales of 3.86 billion dollars, were down 8 percent at Gap Inc. compared to last year, while comparable sales were down 10 percent year-over-year. While the company is making progress balancing its assortments, it remains cautiously optimistic in light of the consumer environment as it relates to its revenue in the second half of fiscal 2022. “While we search for a new leader, I am taking on the role as interim president & CEO of Gap Inc. with a deep commitment to the company’s success and impatience for change. Having navigated the global retail industry across brands and markets, I am not approaching this work from the sidelines,” said Bob Martin, adding, “We are taking actions to better optimise profitability and cash flow in the near term, reducing operating costs as well as impairing unproductive inventory.” Highlights of Gap’s financial results Online sales declined 6 percent compared to last year and represented 34 percent of total net sales, while store sales declined 10 percent compared to last year. The company ended the quarter with 3,390 store locations in over 40 countries, of which 2,799 were company operated.The company’s reported gross margin was 34.5 percent; while adjusted gross margin was 36 percent, deleveraging 730 basis points versus last year. The company's reported operating loss was 28 million dollars in the quarter; with reported operating margin of negative 0.7 percent. Adjusted operating income was 65 million dollars; with an adjusted operating margin of 1.7 percent. The company’s reported net loss was 49 million dollars, while adjusted net income was 30 million dollars. Reported diluted loss per share was 13 cents and adjusted diluted earnings per share were 8 cents. Review of financial results of Gap brand portfolio Old Navy net sales of 2.1 billion dollars, were down 13 percent compared to last year, while comparable sales were down 15 percent. Gap brand net sales of 881 million dollars, were down 10 percent compared to last year and global comparable sales were down 7 percent with North America comparable sales down 10 percent. Net sales at Banana Republic of 539 million dollars, were up 9 percent compared to last year. The brand’s comparable sales were up 8 percent. Athleta reported net sales of 344 million dollars, up 1 percent, while comparable sales were down 8 percent. Gap remains cautiously optimistic about FY22 outlook Coming off of peak inflation and the higher gas prices particularly impacting the lower-income consumer in June, the company has seen an improvement in sales trends in July and into August consistent with many other retailers. The company expects to open about 30 to 40 Athleta stores and 20 to 30 Old Navy stores in fiscal year 2022. As part of its 350-store closure plan, the company continues to expect to close about 50 Gap and Banana Republic stores in North America during the year. The company continues to expect a net benefit to GAAP earnings in the third quarter due to the sale of its UK distribution centre now that its European partnership model transition is complete.
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Farfetch posts revenue and GMV growth

Image: Farfetch For the second quarter, Farfetch Limited’s GMV increased by 12.6 million dollars from 1,007.8 million dollars, up 1.3 percent. Revenue increased by 56 million dollars to 579.3 million dollars, representing growth of 10.7 percent. The increase, the company said, was driven by a 60.3 percent increase in brand platform revenue to 116.6 million dollars, a 52 percent growth in in-store revenue and an increase in digital platform revenue of 0.7 percent. Commenting on the second quarter trading, José Neves, Farfetch founder, chairman and CEO, said: "At Farfetch our mission is to be the global platform for luxury. Since the acquisition of Browns, through the launch of F90 with Gucci, partnerships with Chanel and Harrods, our China JV with Alibaba, Richemont and Kering, and more recent signings of Neiman Marcus and Salvatore Ferragamo, to name just some of the milestones, we have built upon this vision relentlessly and this week we celebrate a landmark partnership where we are partnering with Richemont.” Review of Farfetch’s Q2 performance The company’s digital platform GMV decreased by 30.3 million dollars to 883.1 million dollars in the second quarter, representing a decline of 3.3 percent. The company added that digital platform GMV performance reflects continuing headwinds from suspension of trade in Russia, where trade has ceased since March 2022, and China, where regional Covid-19 restrictions continue to impact orders in Mainland China. Additionally, while the shift to full-price continued in the second quarter, this was more than offset by a decline in markdown sales. Brand platform GMV increased year-over-year by 47.3 percent to 107.1 million dollars or increased 68.4 percent excluding the impact of changes in foreign exchange rates. In-store GMV increased by 38.8 percent to 30.2 million dollars, driven by additional openings of New Guards brands' stores in the last twelve months as well as growth from existing stores. “In second quarter 2022 Farfetch demonstrated our ability to navigate macro challenges while delivering robust underlying growth and managing resources effectively. We achieved revenue growth, on a constant currency basis, of 21 percent year-on-year, and expanded gross profit margins with strong unit profitability,” added Elliot Jordan, CFO of Farfetch. Digital platform services revenue increased by 2 percent driven by first-party revenue. Digital Platform Services first-party revenue increased 8.7 percent primarily driven by increased markdown sales of Browns' products on the marketplace. Digital Platform Services third-party revenue decreased by 2.5 percent. Digital platform fulfilment revenue decreased 4.7 percent, above the overall digital platform GMV decline of 3.3 percent. Brand platform revenue increased by 60.3 percent. Farfetch profit drops, targets break-even adjusted EBITDA Profit after tax decreased by 20.2 million dollars to 67.7 million dollars in the second quarter, with the increase in gross profit of 37.6 million dollars. Basic EPS was 18 cents and diluted EPS was negative 50 cents. Adjusted EBITDA declined by 3.6 million dollars to negative 24.2 million dollars and adjusted EBITDA margin declined from negative 4.7 percent to negative 4.9 percent. For the full year, Farfetch expects digital platform GMV growth of 0 percent to 5 percent, brand platform GMV growth of 0 percent to 10 percent. The company is targeting break-even adjusted EBITDA.
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Louis Vuitton launches sustainable sneaker

Image: Louis Vuitton French fashion house Louis Vuitton has released a new sustainable unisex sneaker designed by its creative director Virgil Abloh, who passed away at the end of November last year. It is a new version of the LV trainer made from 90 percent recycled and organic materials that “blends creativity, sustainability and eco-design, with its utterly graphic silhouette,” according to the brand. Image: Louis Vuitton The sole is made of 94 percent recycled polyurethane, according to Louis Vuitton “with unchanged efficiency in terms of bounce, cushion and foot support”. The inner pads are made of recycled cotton and the insole is made of fully recycled polyurethane. The upper is made from a blend of recycled polyester and a corn-based plastic material. The laces are made from used plastic, the tongue from recycled polyester and the eyelets contain 91 percent regenerated polyurethane. The packaging is also environmentally friendly: the shoe box is made entirely from recycled and recyclable cardboard and can be converted into a bag with a built-in handle. This saves up to 70 percent of material to minimise the environmental impact during transport and storage. The cardboard was printed with vegetable-based inks. A felt shoe bag made of Tencel - renewable fibres from sustainably managed forests - further protects the sneaker. Image: Louis Vuitton The LV trainer is available in three colour variations (white with green, red or black) and is decorated with the house’s signature Sustainable Development logo and monogrammed flowers on the outer sole and “#54” on the back. Sizes range from 4 to 15.5. “A newcomer to the Louis Vuitton collection and the embodiment of the Maison’s innovative spirit, this unprecedented model created by Virgil Abloh marks a new chapter in eco-design. Manufactured in the Louis Vuitton workshop in Fiesso d’Artico, Italy, using a highly complex process, the sneakers blend eco-design with fine craftsmanship, in accordance with the codes of circular creativity,” states the fashion house in a press release. The LV Trainer is available in white with green accents at select Louis Vuitton shops worldwide and via the official website, and in red and black from September. No details were given regarding the price. Also read: * Ferragamo launches recyceled sneaker * Adidas unveils low-carbon shoe collaboration with Allbirds * Puma launches Re:suede experiment with 500 pairs of shoes * Why Nike designed a sneaker that is made to be disassembled
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Uniqlo takes first physical step into Poland with Warsaw pop-up

Image: Uniqlo Uniqlo is set to open a new pop-up store in Warsaw’s Domy Towarowe Wars Sawa Junior this autumn, marking its first physical presence in Poland. The space will span 800 square metres, covering two floors, and will house a selection of women’s, men’s, kids and baby apparel. Despite the pop-up being its first physical opening, the company has been retailing its LifeWear range in the market for six years via its European online store. In a release, CEO of Uniqlo Europe, Taku Morikawa, said: “We are extremely pleased to be able to engage with customers in Poland for the first time in person and explain LifeWear – apparel that is created from our Japanese values of simplicity, quality and longevity. “The decision to establish a physical presence in this new market builds on our experience of offering customers the latest products via the Uniqlo Europe online store. “Through our pop-up store, we hope to gain a deeper understanding of the Polish market and use learnings to make long-term plans for the future.” According to Scott Dwyer, group managing director, retail at Atrium European Real Estate, Wars Sawa Junior is the “perfect place to start a presence in the Polish market”. Dwyer added that the location is close to the city’s busiest community hubs and popular tourist attractions, with the brand also able to contribute to the destination’s goal of attracting a new generation of customers.
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Kohl’s launches new own brand celebrating diversity

Image: Kohl's - Sonoma Community US retail giant Kohl’s has revealed a new sub-brand of its private label flagship brand, Sonoma Goods for Life, which will offer products that celebrate diversity and inclusion. For its kick off, ‘Sonoma Community’ will launch with a line dedicated to celebrating Hispanic Heritage Month, featuring apparel and products that highlight Hispanic and Latino culture and traditions. The new brand will build on the work of Kohl’s Diversity Design Council (DDC), a group of associates who look to create authenticity in the retailer’s products by sharing their cultures and experiences. Throughout the year, Sonoma Community will offer seven collections reflecting different cultures, including Lunar New Year, Black History Month and Women’s History Month, with artwork created by either the DDC or external guest artists. In a release, Kohl’s chief diversity and inclusion officer, Michelle Banks, said: “As a national company with a presence all over the country, it’s imperative that we are able to offer apparel and products that accurately and authentically represent and celebrate the different customers that we served, and associates that work at Kohl’s. “The debut of Sonoma Community is the next step on Kohl’s DEI journey, and through these collections, we are excited to more purposefully deliver offerings that help our customers and associates see themselves reflected and represented in our brands.”
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Ferragamo launches recyceld sneaker

Image: Ferragamo Italian fashion brand Ferragamo has launched a sustainable unisex sneaker for its autumn/winter 2022 collection, combining responsible and high-tech materials to create a “lightweight and comfortable model with a luxurious vintage look”. Image: Ferragamo The sneaker features a slim silhouette and bright colours, and uses fabric elements alongside suede and smooth leather. Among the versions is one with the iconic Ferragamo rainbow and one with an all-over Gancini pattern. Image: Ferragamo The sneaker's upper is made from econyl fibres, which are 100 percent derived from fishing nets and other nylon waste. All suede inserts were made from production waste generated in a carbon reduced production process. The footbed and lining are made from chrome-free tanned leather. The sneaker is sewn from 100 percent recycled polyester thread. Image: Ferragamo The sneakers are available on the Ferragamo website and cost between 595 and 650 euros. They are available in sizes 34.5 to 47 (US 4 to 13). Image: Ferragamo
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Forever Unique to collaborate with Paige Thorne from Love Island

Image: Forever Unique Love Island’s Paige Thorne has signed a six-figure fashion deal with Forever Unique to launch her own collection. Thorne was chosen personally by the owner of Forever Unique and star of the Real Housewives of Cheshire, Seema Malhotra, who describes the reality star as the “absolute perfect fit” for her brand. The deal marks the first ever Love Island partnership for Forever Unique and Thorne’s first collaboration since leaving the villa this summer and will see the star launching her own collection in time for the party season. The highly anticipated collection will be inspired by Thorne’s “premium and girly aesthetic,” said Forever Unique, and will showcase elevated, high-fashion, feminine shapes with attention to detail being at the core. Commenting on the collaboration, Thorne said in a statement: “I love that Forever Unique offers wardrobe staples that last a lifetime. I wanted my collection to be a considered purchase, using high quality materials and taking me out of my comfort zone. "This is a real pinch me moment, I can’t believe I have my very own collection with a brand I’ve loved for years.” Image: Forever Unique Forever Unique announces first partnership with a Love Island star Malhotra added: “We are beyond excited to announce Paige as our latest celebrity signing! We were drawn to Paige immediately in the villa and love what she stands for as a strong, independent and driven female. "She knows what she wants and that is at the core of our ethos as a brand. The new collection has been designed to make a statement and I can’t wait for you all to see it.” Forever Unique has reported strong direct-to-consumer growth in the last two years, following a successful rebrand in 2021 to offer curated collections featuring premium, sustainable and style-led clothing that lasts a lifetime. Its collaboration with Thorne will launch in October, exclusively on its website, foreverunique.com. Thorne’s deal with Forever Unique is the second fashion collaboration announced this week for a Love Island star. Finalist Gemma Owen was named as a PrettyLittleThing UK brand ambassador, and earlier this month, Tasha Ghouri was announced as eBay’s first pre-loved ambassador. Image: Forever Unique
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Apricot to exit CVA ahead of schedule

Image: Apricot, Facebook British fashion brand Apricot is reportedly exiting its company voluntary arrangement (CVA) 16 months ahead of schedule. In January last year, the company switched 13 of its 14 UK stores to a turnover-based rent model following creditor approval of its CVA. There were no planned store closures. The CVA was due to end on December 31 2023, but creditors voted to exit the process early on August 23, Drapers reports. Apricot director and owner Philip Chaimo told the news publication that the company managed to renegotiate terms on most of its stores and has seen an improvement in its trade. Based on that, Apricot has decided to exit the CVA process early in order to free the business from the restructuring process and for creditors’ dividends to be increased. CVAs and the switch to turnover-based rents have become increasingly popular in the past few years - especially so during the pandemic - as a way for companies to more closely align their rents to the performance of individual stores. In the past years, LK Bennett, Ann Summers, Moss Bros, Clarks, New Look, AllSaints, Bair Group, and Monsoon Accessorize all launched CVAs. The decision was unopposed by creditors, who all voted in favour of finishing the process early on Tuesday August 23.
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Afterpay launches NTF ‘Keys’ for consumers to unlock NYFW

Image: Afterpay; The Blonds/Kim Shui Buy now, pay later payment service Afterpay is continuing its partnership with IMG for New York Fashion Week for a third season by offering consumers NFT ‘keys’ to unlock New York Fashion Week. Afterpay has teamed up with designers Altu by Joseph Altuzarra, AnOnlyChild, Jonathan Simkhai, Kim Shui and The Blonds to launch limited-edition NFT ‘keys’ for consumers to mint on the Polygon network. Each designer NFT is a one-of-a-kind phygital collectable, explains Afterpay, inspired by the designer’s upcoming spring/summer 2023 collection. They will retail for 100 US dollars, and for the first time, consumers will be able to purchase the NFTs by splitting the payment into four interest-free instalments using Afterpay on Keys.NYFW.com. Image: Afterpay; Altu by Joseph Altuzarra The NYFW digital collectables will give users ownership of limited-edition art and unlock IRL access to New York Fashion Week. With the Altu by Joseph Altuzarra NFT, consumers will also receive a special edition logo tote and an oversized T-shirt or annual membership to one of New York City’s premiere art museums, while The Blonds offers the choice between an invite to its NYFW after party or a signed copy of “The Blonds: Glamour, Fashion, Fantasy” forthcoming book. NYFW designers launch NFTs with Afterpay Other perks that come with the NYFW NFTs keys include a custom-designed hoodie by Kim Shui or tickets to her catwalk show on September 12 and an exclusive invite to AnOnlyChild’s after party or a limited edition belt bag. While Jonathan Simkhai is offering a private meet and greet shopping experience or original, signed catwalk sketches from his new collection debuting September 13. Image: Afterpay; Jonathan Simkhai In addition, Afterpay said that it is also issuing its first-ever free NFT in a limited quantity, making it easier than ever for consumers to mint a digital collectable on the blockchain. The Afterpay NFT also unlocks utilities like a Tidal HiFi Plus 6 Month Free Trial, access to an NYFW close-friends Instagram group, and an invitation to RSVP to NYFW: The Talks sessions. All proceeds from the sale of the designer NFT Keys will be donated to Free Arts NYC, which brings art and mentoring programmes to children in underserved communities in New York City. Image: Afterpay Image: Afterpay; AnOnlyChild
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Hanky Panky opens first standalone store in New York

Image: Hanky Panky Hanky Panky has announced the opening of a brick-and-mortar store in New York’s West Village as it looks to grow its store presence throughout the US. The 600 square foot store, which is the 40-year-old brand’s first standalone location, will offer a curation of its signature styles through a new shopping experience. The interior aims to further reflect the underwear brand’s aesthetic with customised branded features and a thong wall highlighting its range of bold colours and prints. As part of the opening, Hanky Panky will be debuting a build-your-own-bundle offer with it also set to roll-out more in-store activations in the future, such as its Lingeriecycle recycling programme. The New York-born brand is further planning to expand its US retail footprint with ten more stores by 2025, it said in a release, each one of which will focus on bringing direct contact to consumers. Furthermore, Hanky Panky also revealed plans to soon offer international shipping, building on its current presence in 60 countries. For its launch, the brand will be hosting a mobile unit featuring exclusive promotions and a lingerie cycle activation on August 27.
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Adidas chief executive Kasper Rorsted to leave role in 2023

Image: Adidas; Kasper Rorsted German sportswear giant Adidas has confirmed that chief executive officer Kasper Rorsted will stand down from his role next year, with the search for a new successor already underway. In a statement, the Adidas Supervisory Board said it “mutually agreed” with Rorsted that he would hand over the CEO position in 2023, a position he has held since 2016. The search for Adidas’ new boss has already started, added the sportswear brand, and Rorsted will remain CEO until a successor has been appointed to "ensure a smooth transition at the helm of the company". Thomas Rabe, chairman of the Supervisory Board of Adidas AG, said on behalf of the board: “We would like to thank Kasper for his major achievements. During his tenure since 2016, he has strategically repositioned the company and fast-forwarded its digital transformation. Under Kasper’s leadership, Adidas has substantially advanced its digital capabilities and grown its online sales by a factor of more than five. In North America, the world’s largest sporting goods market, Adidas has doubled its sales. “In addition, Adidas has strengthened its leadership position in sustainability and increased diversity, equity and inclusion throughout the company. One example is the share of women in leadership positions that increased significantly during his tenure. Following the successful divestiture of TaylorMade, CCM Hockey and Reebok the company is now able to focus its efforts on its core brand Adidas.” Kasper Rorsted to step down as CEO of Adidas in 2023 Rabe added: “After three challenging years that were marked by the economic consequences of the Covid-19 pandemic and geo-political tensions, it is now the right time to initiate a CEO transition and pave the way for a restart. We are pleased that Kasper will ensure a smooth transition at the helm of the company during the upcoming months jointly with the Supervisory Board and Executive Board of Adidas AG.” Commenting on his resignation, Rorsted, said: “Adidas is an iconic sports brand. As a company, we have achieved great progress in strategic areas of our business. I am proud of our achievements as a team. The past years have been marked by several external factors that disrupted our business significantly. It required huge efforts to master these challenges. This is why enabling a restart in 2023 is the right thing to do - both for the company and me personally. “Our business is heading in the right direction. We are growing double-digit in 85 percent of our business. In the months to come our focus will be to accelerate our growth as soon as all markets can operate without major disruptions. Together with the adidas team I am looking forward to realizing this growth and, jointly with the Supervisory Board, to ensuring a smooth transition at the helm of the company.” The news of Rorsted’s departure comes after Adidas reported continued “strong momentum” in western markets in the second quarter and a return to growth in Asia-Pacific, despite continued challenges on both supply and demand, as well as suspending its business in Russia.
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Strike begins over pay at UK's largest container port

Image: Pexels An eight-day strike by workers at the UK’s largest container port in the East of the UK began on Sunday. Between August 21 and August 29, 1,900 dockers working at Felixstowe port are going on strike over a proposed 7 percent pay increase, which they argue is “significantly” below the real (RPI) inflation rate of 11.8 percent. According to Unite the Union, 48 percent of containers brought into the UK are transported via the Port of Felixstowe. The union warned the strike action “will have a huge effect on the UK’s supply chain and will also cause severe disruption to international maritime trade, as well as the UK’s supply chain including the logistics and haulage sectors”. It is the first time workers at the Port of Felixstowe have gone on strike since 1989. Unite general secretary Sharon Graham said in a statement: “Both Felixstowe docks and its parent company CK Hutchison Holding Ltd are both massively profitable and incredibly wealthy. They are fully able to pay the workforce a fair day’s pay. “The company has prioritised delivering multi-million pound dividends rather than paying its workers a decent wage. “Unite is entirely focused on enhancing its members’ jobs, pay and conditions and it will be giving the workers at Felixstowe its complete support until this dispute is resolved and a decent pay increase is secured.” The Port of Felixstowe wrote on its website that it was “disappointed” that Unite had not called off the strike “and come to the table for constructive discussions to find a resolution”. It continued: “We recognise these are difficult times but, in a slowing economy, we believe that the company’s offer, worth over 8 percent on average in the current year and closer to 10 percent for lower paid workers, is fair. Unite has failed our employees by not consulting them on the offer and, as a result, they have been put in a position where they will lose pay by going on strike. “The port regrets the impact this action will have on UK supply chains. We are grateful for the support we have had from our customers and are working with them to mitigate disruption. The port provides secure and well-paid employment and there will be no winners from this unnecessary industrial action.”
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Berluti launches on Alibaba’s Tmall

Image: Berluti LVMH-owned French luxury menswear brand Berluti has launched on Alibaba’s Tmall Luxury Pavilion to expand its digital footprint in China. In a statement, Berluti said it has been “steadily expanding” in China, which it adds is on pace to be the world’s largest luxury market by 2025 and aligning itself with Tmall is crucial in targeting affluent Chinese consumers. Laurent Barrere, managing director of Berluti, China and Asia Pacific, said in a statement: “As a crucial step in the brand’s business expansion and digitalisation process, we have high hopes for this strategic cooperation with Tmall.” To celebrate its digital expansion, Berluti is offering Tmall shoppers exclusive access to its global debut of Playoff sneakers, inspired by high-top basketball sneakers of the 1980s and early 1990s that pay homage to Berluti’s first-ever sneaker Playtime. Tmall shoppers can shop two low-top styles in nero grigio and honey shades. Janet Wang, general manager of Tmall Luxury Pavilion, added: “Tmall Luxury Pavilion platform has a large number of high-net-worth consumers, as well as young people with a high degree of digitalisation.” Tmall Luxury Pavilion is the first luxury platform in China to offer consumers brands from the world’s five major luxury groups: LVMH, Kering, Chanel, Hermes and Richemont. It also counts 67 percent of its shoppers as Millennials, while the more digitally-native Generation Z makes up over 17 percent of its audience, according to a report by consultancy Roland Berger and Alibaba.
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