Friday, May 5, 2023

Kontoor Brands Q1 sales improve by 2 percent

Image: Joint Lee and Wrangler store in Amsterdam Kontoor Brands, Inc. reported first quarter revenue of 667 million dollars, a 2 percent or 1 percent decrease in constant currency. Revenue increases, the company said, primarily driven by strength in domestic wholesale and DTC, were more than offset by decreases in international wholesale, primarily driven by the continued impacts of Covid-policy changes in China. “As anticipated, our brands continued to gain share in the U.S. where POS outpaced shipments in the quarter. We continue to assume macroeconomic pressures will weigh on consumer demand in the second half of 2023, particularly in the U.S. However, we believe that our increasingly diversified growth across channels, categories and geographies, enabled by strategic investments in DTC, demand creation and data analytics will generate more sustained, profitable growth over time,” said Scott Baxter, president, CEO and chair of Kontoor Brands. Highlights of Kontoor Brands Q1 performance The company added that U.S. revenue was 518 million dollars, up 2 percent, and U.S. wholesale increased 1 percent, including strength in digital wholesale which increased 11 percent compared to last year. These gains were augmented by continued strength in DTC, with U.S. own.com revenue increasing 15 percent compared to the same period last year. International revenue was 149 million dollars, a 14 percent or 9 percent decrease in constant currency driven by softness in wholesale, somewhat offset by strong DTC performance. International DTC increased 10 percent or 17 percent in constant currency. Sales in China decreased 36 percent or 31 percent in constant currency compared to the first quarter of 2022, driven by impacts in the wholesale channel from the Covid-policy changes. China DTC increased 3 percent or 11 percent in constant currency compared to the same period last year. Sales in Europe decreased 7 percent or 1 percent in constant currency with wholesale pressures more than offsetting gains in DTC. Europe DTC increased 15 percent or 22 percent in constant currency compared to the same period last year. Kontoor Brands posts sales increase in Wrangler Wrangler brand global revenue was 423 million dollars, a 3 percent increase from the same period in the prior year. Wrangler U.S. revenue increased 3 percent, driven by increased shipments in U.S. wholesale reflecting category diversification including non-denim bottoms, outdoor and workwear. Wrangler U.S. DTC increased 16 percent, while Wrangler international revenue was flat or 5 percent increase in constant currency compared to the first quarter 2022. Lee brand global revenue was 241 million dollars, a 9 percent or 7 percent decrease in constant currency. Lee U.S. revenue was flat compared to the same period last year, with gains in own.com offset by softness in wholesale. Lee U.S. DTC increased 8 percent, while Lee international revenue decreased 20 percent or 16 percent in constant currency, driven primarily by reductions in China wholesale. Gross margin decreased 180 basis points to 43 percent of revenue, operating income was 95 million dollars and operating margin of 14.2 percent decreased 170 basis points compared to the same period in the prior year. EBITDA was 102 million dollars, while EBITDA margin of 15.3 percent decreased 200 basis points. Earnings per share was 1.16 dollars in the first quarter, compared to 1.40 dollars in the same period last year. Kontoor Brands expects low-single digit percentage increase in 2023 The company said revenue is expected to increase at a low-single digit percentage in 2023 with first and second half performance relatively balanced. The company continues to expect the first half to be driven by the U.S. with momentum in POS, share gains and DTC. Gross margin is expected to be in the range of 43.5 percent to 44 percent, increasing 40 to 90 basis points compared to gross margin of 43.1 percent in 2022. EPS is expected to be in the range of 4.55 dollars to 4.75 dollars, consistent with the prior outlook.
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Thursday, May 4, 2023

Farfetch takes on Reebok’s e-commerce in Europe

Image: Reebok Luxury fashion platform Farfetch is teaming up with Reebok to operate its e-commerce operations and wholesale business in Europe. In a statement, Farfetch said it has “replatformed” Reebok’s e-commerce sites in Europe, and is overseeing all marketing and e-commerce operations, as well as driving wholesale distribution to help “drive the evolution of the brand by expanding its luxury collaboration offerings globally”. The partnership was announced by Authentic Brands Group in February 2022, a month before it completed the acquisition of Reebok from Adidas. The deal will be managed by fashion production and distribution holding company New Guards Group (NGG), owned by Farfetch. NGG has formed a new division, NGG++ to operate the Reebok brand and to focus on “accelerating opportunities for NGG brands’ sportswear and sneaker categories”. Cristiano Fagnani, previously chief marketing officer of NGG, has been appointed to the role of chief executive of the newly launched NGG++. José Neves, founder, chairman and chief executive at Farfetch, said: "Reebok has great potential to expand into the luxury space, reigniting its loyal customer base and capturing the imagination of a new luxury global audience. Under the astute and energetic guidance of Cristiano and the NGG++ team, we believe this partnership will unlock huge value for the brand and for Farfetch. “Launching the partnership with Reebok is an important execution milestone in Farfetch’s plans for 2023. We are delighted that the NGG++ and Farfetch Platform Solutions teams have ensured Reebok’s wholesale and e-commerce operations are up and running on time and on budget. We look forward to delivering on further milestones for Reebok throughout our partnership.” Todd Krinsky, chief executive of Reebok, added: "Since announcing our partnership last year, I’ve been incredibly impressed with the energy, passion and opportunities the NGG and Farfetch teams have already brought to the table. "Our concept sneakers with Botter x HP that debuted at Paris Fashion Week earlier this year were a great indicator of all that’s to come and we can’t wait to introduce more game-changing collaborations and innovations that will elevate the brand’s legacy and further Reebok’s global appeal."
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Bumpsuit opens first pop-up in Los Angeles

Image: Bumpsuit; The Grove pop-up In Pictures Bumpsuit, the celebrity favourite maternity clothing brand, has opened its first physical retail presence with a pop-up at The Grove in Los Angeles, California. The pop-up pod, located on the lawn across from Nordstrom, has been fully outfitted and designed by Will Fox of Fox Fox Studio and will run until May 24. The digital native brand is stocking its essentials, including dresses, shapewear, loungewear, and baby carriers in the pop-up, as well as the brand’s newest category, shapewear swim. Nicole Trunfio, founder of Bumpsuit, said in a statement: "I am thrilled to bring Bumpsuit to life with our first retail experience at the Grove in Los Angeles. Timed to coincide with the launch of our latest product range, The Armadillo Baby Carrier, and our Bumpsuit community walks, the Pop-up is a hub of empowerment and connection. We've created an experience to celebrate women, and to help them feel strong, beautiful and supported." Image: Bumpsuit; The Grove pop-up Image: Bumpsuit; The Grove pop-up Image: Bumpsuit; The Grove pop-up Image: Bumpsuit; The Grove pop-up
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Next posts marginal drop in sales, maintains profit outlook

Image : Next Plc In the thirteen weeks to April 29, 2023, full price sales at Next plc were down 0.7 percent versus last year, moderately ahead of the company’s guidance for this period, which was to be down 2 percent. The company is maintaining sales and profit guidance for the full year, with pre-tax profit forecast to be 795 million pounds and earnings per share (EPS) of 501.9p. The company said, total trading sales, including markdown and clearance sales, were up 1.2 percent versus last year, driven by higher clearance sales. To maintain its first half forecast, Next has moderated sales forecast for the second quarter, which is now planned to be 5 percent down on last year compared to previous guidance of down 4 percent.
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JCA and Saïd Business School announce winners of design competition

Image: JCA; Valeria Peeva and Maxi Purton winners JCA x SAID Business School Contest The JCA | London Fashion Academy and Saïd Business School at the University of Oxford have named Valeria Peeva and Maxi Purton as the winners of its student design competition to create new staff uniforms for the institution. The winning looks by Peeva and Purton were inspired by Oxford’s architecture and will be rolled out across Saïd Business School’s professional service colleagues, including catering, reception and housekeeping teams later this year. As winners, the two 18-year-old fashion students from Jimmy Choo’s JCA | London Fashion Academy win 500 pounds and a place at Saïd Business School’s new Oxford Venture Series, made up of three, six-to-eight-week online programmes with tutor support and live lessons. The series aims to help new entrepreneurs, start-ups, scale-ups and small and medium enterprises, conceptualise and launch their business ideas. In addition, an additional prize was awarded to Niamh Nowlan for her print design, which will be used in new student merchandise. Nowlan takes home a 250-pound cash prize. Tania Hanniford, head of brand at Oxford Saïd, who led the judging panel, said in a statement: “It was a very close run competition and the standard of all our finalists was exceptional. Valerie and Maxi have created something special that honours the history of the University of Oxford, whilst reflecting the modernity and innovation of the Business School. We are looking forward to working with them to manufacture the designs.” Stephen Smith, chief executive at the JCA, added: “We can’t wait to see our learner’s designs being worn by Oxford Saïd’s staff and students. One of our goals with our programmes is to help entrepreneur designers launch their designs to the market and this design competition is a great platform to do so.”
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Wednesday, May 3, 2023

Consumers want more transparency about the provenance of garments

Report Image: Compostable bag via Tipa Corp Two-thirds of global fashion shoppers desire more transparency when it comes to the origin of garments, according to a report by Avery Dennison, a leading materials science and digital identification solutions company. More than half of these consumers find Virtual Reality (VR) experiences, triggered by scanning garment labels, interesting. The Digital Consumer Behaviour report, which was produced in partnership with GWI, an audience insights company. surveyed over 6,300 clothing shoppers in seven countries, including the U.S., U.K., China, France, Germany, Mexico, and Japan, to examine consumer attitudes and behaviours. QR codes in garments The report found that six out of 10 fashion shoppers globally consider scanning a QR code to understand proper garment care a valuable tool, which in turn increases the clothing's longevity. The study revealed an overall increase in comfort levels towards digital triggers on garments compared to the previous year's Digital Consumer Behavior report. The report also highlighted that the adoption of VR experiences and non-fungible tokens (NFTs) has grown, particularly among fashion consumers. Over half of the respondents globally (51 percent) showed interest in creating a digital inventory of their wardrobe, which would be beneficial for those interested in utilising secondary marketplaces. The report showed that almost half (47 percent) of global fashion shoppers were interested in virtual experiences, and over a third stated that they would be willing to buy digital outfits for their virtual gaming characters. In terms of second-hand fashion, buyers in Mexico (60 percent), the U.S. (50 percent), and Europe (50 percent) are the most open to it. Since the pandemic, 29 percent of total consumers have become more open to buying second-hand. Additionally, three out of four shoppers globally claimed that their fashion spending decreased due to the cost of living crisis. Transforming the industry According to Michael Colarossi, vice president of innovation, product line management, and sustainability, Apparel Solutions at Avery Dennison, these findings demonstrate that consumers expect smart digital solutions that enhance their shopping experience. They also desire tech tools that facilitate conscious decisions, such as resale and recycling. Chase Buckle, vice president of trends at GWI, said a mutually beneficial relationship between in-store and online shopping will be transformative for the industry.
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Item of the week: the lace dress

(From left) Image: French Connection, Madewell, La Ligne What it is: The lace dress is a style that transcends seasons and fashion trends, appearing in looks that can be linked to almost every aesthetic, from bohemia to formalwear to beachwear. While typically a trend that appears in the summer season, its prominence on the runway for autumn/winter 2023 has seen it take on new forms, in styles that allow it to be appropriate all year round and for just about any occasion. The lace itself also differed in use, either seen throughout the entirety of a garment, lining the hem or in intricate panels, most commonly as an extension of the underwear-as-outerwear trend that had its grip on the coming fashion season. Image: French Connection Why you’ll want it: The lace dress can fall into a lot of varying aesthetic and trend categories, giving it a wide appeal to different target audiences that may be looking for a transeasonal style to add to their wardrobes. The piece is particularly popular around wedding season, which typically spans May to October, and has seen a boom in business over the past year as couples continue to go ahead with weddings that were rescheduled due to the pandemic. While the lace dress is often linked to formalwear, the look can also be found in casual pieces, giving it a good scope when it comes to different occasions. Image: French Connection Where we’ve seen it: The lace dress was exhibited in ready-to-wear and haute couture runways alike for AW23, seen in both pieces that could be worn for events and ones to wear to the supermarket. Off-White set its sights on the former with a floor-sweeping, figure-hugging mermaid silhouette that had contrasting lace panels throughout. Ester Manas also offered up form fitting designs which drew inspiration from lingerie and corsetry to make their minimalistic shapes. The lace-favouring Zimmermann stuck closely to its signature bohemian aesthetic with its own designs that placed an importance on lace hems for lightweight, flowing dresses. Meanwhile, Alaïa’s lace looks went from head to toe, encircling the models in intricate materials. Image: Dorothee Schumacher How to style it: Layering the lace dress is a pinnacle point in styling the item. With the material, it is usually possible to see through the design, meaning that more often than not, an underlayer is needed. Use a slip dress in nude or a colour similar to the lace itself, or mix things up with a contrasting tone to bring depth to the piece. For casual wear, pair the dress with sneakers and a leather shoulder bag, or alternatively, for eveningwear, add sparkly accessories and strappy heels. Image: Burberry As a multi-occasion, multi-season dress style, the lace dress brings a wide appeal to various shopper groups, whether they are celebrating an occasion or simply going to the beach. Image: Stella McCartney Similar items available for (pre)order can be found in the FashionUnited Marketplace. You can find them by clicking on this link.
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L’Oréal’s sustainability journey and the challenges it faces

Biotherm Life Plankton Elixir suspended in ice at L'Oréal's Beauty and Water Experience. Image: L'Oréal On entering L’Oréal’s Benelux headquarters, located in Hoofddorp, the Netherlands, it is clear that going ‘green’ is definitely on the group’s mind. Among the strips of natural wood used throughout the building’s foundations, plants scale the interior leading down to a lobby where, on this occasion, various products from a selection of the company’s portfolio brands were suspended in large-scale ice cubes. The display was in reference to a presentation to the press held by the French cosmetics firm, which specifically centred around its relationship with water and what the substance had to do with its sustainability practices. The topic of sustainability is not a new one to L’Oréal. The company, which owns the likes of Maybelline, Garnier and NYX Professional Makeup, has been tracking its CO2 emissions for over 20 years, most recently stating that it had reduced such emissions in its distribution centres by 91 percent since 2005. Now, the group is navigating some 17 commitments spanning biodiversity to raw materials to water consumption and, like other large conglomerates, reporting its achievements in various eco-targets annually. Its efforts have been drawn out in its ‘For the Future’ programme, launched in 2020 to address specific objectives, such as reducing all GHG emissions by 50 percent per product by 2030. Water is also a central part of the strategy, and is woven into the fabric of all areas of the business, from the way it is used in the production process to how employees themselves consume it. During a presentation at the headquarters, Erik Troost, director of corporate communication, engagement and sustainability at L’Oréal, further emphasised the importance of reevaluating our relationship with H2O as a whole, while outlining a range of ways in which the group has done so itself. By 2030, for example, the company is aiming for 100 percent of the water used in its industrial process to be recycled and reused in a loop, while it is also striving for 100 percent of its strategic suppliers to use water sustainably where they operate. Erik Troost, L'Oréal's director of corporate communication, engagement and sustainability. Image: L'Oréal Group L’Oréal views role as educational Following the talk, FashionUnited sat down with Troost to get an insight into L’Oréal’s current position in integrating such practices and how he viewed its efforts so far. In his eyes, next to carrying out much of its initiatives among its own operations, Troost sees L’Oréal’s relationship with the consumer as a crucial element of how it does sustainable business. With shoppers, Troost views L’Oréal’s role as educational, where there is a particular emphasis on transparency and recognising the company’s responsibility to inform buyers on how to make more sustainable choices. His perception, and L’Oréal’s attempts to present its efforts more openly, reflects the increasing criticism placed on brands for not implementing enough eco-friendly values. At the same time. consumers' awareness of the differences between authentic communication and greenwashing – a term used to describe deceptive marketing practices when it comes to a company’s green claims – is becoming more evident, and many fashion brands have continued to come under scrutiny for their misleading practices. Still, while commonly linked to the industry, greenwashing is not exclusive to fashion. It is also a continuing discussion in the beauty and cosmetics sector, and one that even L’Oréal has not been able to steer clear of. In June 2022, the company was among several beauty and personal care firms accused of committing greenwashing by the Changing Markets Foundation (CMF), after the organisation investigated various sustainability claims made on their products. According to CMF’s report, L’Oréal prominently featured the text “100 percent recycled plastic bottle” on an Elvive shampoo pack, despite the small print on the packaging stating that this statement only referenced the bottle and not the cap. Furthermore, the product itself was described as “more sustainable”, but CMF noted that there was no further information provided to support this claim, and therefore it was not a meaningful comparison to other products. Garnier products suspended in ice at L'Oréal's Beauty and Water Experience. Image: L'Oréal However, Troost purported that at L’Oréal there is an “ongoing development in communication” when it comes to sharing its sustainable policies with consumers. “We want to be transparent and tell our story in a legitimate way,” he noted. “We are showing progress, but sustainability is like a movie that constantly evolves.” Such evolution could be seen in its Garnier product line of no-rinse conditioners, which come in an Albéa-produced cardboard-based tube where detailed information on the product’s “eco-friendly” processes is displayed. Not only that, but the product itself is also designed to reduce consumers’ impact, with the leave-on factor estimated to save up to 100 litres of water per tube, according to L’Oréal. This also directly links into another goal in its ‘For the Future’ programme, in which it is looking to reduce consumers’ water consumption linked to the use of its products by 25 percent. Sustainability’s complexity proves a challenge While the move correlates with the company’s belief that consumers should be encouraged to take small steps in their own life, this principle is further extended to its expansive workforce. “More and more of our employees have sustainability as part of their jobs,” Troost said, adding that they are urged to consider this throughout their daily tasks and their personal lifestyle. “We want to engage our employees in this process and integrate these values into their job responsibilities, as well as in other areas of their life. Everyone has an impact and people have become curious about how they can contribute.” Even with such a large conglomerate like L’Oréal, challenges surrounding the implementation of sustainable practices are still evident. In fact, the group’s vast scope, both in terms of region and portfolio, is often one of the hindrances when it comes to such moves. “Sustainability is complex,” Troost noted. “If you adjust one lever, such as water, it can possibly have an effect on another. There are a lot of factors to consider. We also need to consistently approach this area throughout the group so that all our brands follow through.” L'Oréal Group brand products displayed at the company's Beauty and Water Experience in its Benelux headquarters. Image: L'Oréal One way L’Oréal is seemingly trying to overcome this obstacle is taking its efforts on a region-by-region basis. The company recently struck up a deal with China’s Alibaba through which the duo agreed to work together on promoting circularity in the country’s beauty industry. As part of the partnership, L’Oréal and Alibaba are looking to establish green and low-carbon standards to apply to new products and create measurable circular economy solutions that can be integrated into the market as a whole. The deal strives to cover various sectors, from logistics to marketing to consumer communications. Another way the group has been attempting to overcome difficulties surrounding integration is through acquisitions and investments, an area that it has been leading in over recent months. L’Oréal has been snapping up everything from manufacturers to distributors to brands, externally broadening its reach and extending its network for the benefit of its own portfolio. In March this year, the group became a founding investor in biotechnology firm Geno, which will provide L’Oréal brands with its platform to ferment plant sugars and produce sustainable surfactants for beauty products, taking it closer to its goal of offering 100 percent eco-designed formulas. A similar proposal was made when L’Oréal acquired a minority stake in Microphyt, a French firm developing low-carbon impact microalgae, a plant organism used in cosmetics. Despite the struggles that may come with implementation, Troost remained positive about L’Oréal’s future when it comes to its eco-procedures, noting that despite difficulties, it would continue to invest in all aspects of sustainable development. “Being a commercial company allows us to develop, and as a big business we have a responsibility to do so,” Troost added. “We have an impact and we have to keep developing. Many often question this method and say that we as a society simply need to consume less, but I would argue that halts development. We need to address matters holistically, and produce products that contribute positively.” Biotherm products displayed during L'Oréal's Beauty and Water Experience at the company's Benelux headquarters. Image: L'Oréal Read more: * How fashion retailers are integrating beauty into their physical stores? * Influencers can help people switch to sustainable living
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Revlon completes financial restructuring, exits Chapter 11 bankruptcy

Image: Revlon Revlon, Inc. has completed the financial restructuring process and has emerged from Chapter 11 positioned for future success and growth. The newly reorganised company is named Revlon Group Holdings LLC. The company said in a release that with approximately 236 million dollars of liquidity, funded through an equity rights offering, a new money senior secured credit facility, and new asset-based loans, Revlon is emerging from Chapter 11 as a private company on strong financial footing. The company has simplified its capital structure by eliminating more than 2.7 billion dollars in debt from its balance sheet, leaving it with approximately 1.5 billion dollars of debt outstanding. The majority of the company’s reorganised equity is now owned by its former lenders, including affiliates of Glendon Capital Management LP, King Street Capital Management, L.P., Angelo, Gordon & Co., L.P., Antara Capital LP, Nut Tree Capital Management, LP, Oak Hill Advisors, L.P., and Cyrus Capital Partners, LP, among others. Commenting on the development, Debra Perelman, Revlon’s president and CEO, said: “Today marks an important moment in Revlon’s history and evolution. With a simplified capital structure, significantly reduced debt, and a new, highly experienced and committed board of directors, we look forward to unlocking the full potential of our globally recognized brands and continuing to offer our customers the iconic products they have loved for decades.” As previously announced, in connection with its emergence from bankruptcy, Revlon has formed a new board of directors composed of executive chair Elizabeth (Liz) A. Smith, former executive chairman and chief executive officer of Bloomin’ Brands, Inc. and former chair of the Federal Reserve of Atlanta; Martin Brok, former global president and chief executive officer of Sephora; Timothy McLevish, former chief financial officer at Walgreens Boots Alliance, Inc.; Hans Melotte, former president of Starbucks’ global channel development; and Paul Pressler, chairman of the board of directors of eBay, Inc. On a preliminary basis, the company added, net sales for the first quarter were 490 million dollars versus 483 million dollars, operating income was 51 million dollars versus 19 million dollars and recurring EBITDA was 77 million dollars, representing a 15.8 percent margin, versus 50 million dollars or a 10.4 percent margin, forecasted in the business plan announced on December 19, 2022.
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Ideal Image appoints LVMH veteran to VP, sales and operations

Ideal Image office. Image: Ideal Image, Facebook Skincare provider Ideal Image has announced the appointment of Cheryl Hallinan to the role of vice president, sales and operations, effective immediately. Hallinan joins the company with a range of experience in luxury retail and e-commerce firms, including at The RealReal and LVMH, where she previously served on the leadership teams for Louis Vuitton, Tiffany & Co., Christian Dior and Fendi. In her new role, Hallinan has been tasked with leading national sales and operations efforts for Ideal Image, as the company looks to reimagine the beauty and wellness customer experience under the leadership of its new CEO Sharon Leite. Hallinan will further drive the creation of new initiatives and consistently scaling the business across markets, while also expanding its services to offer a more personalised experience. Speaking on her appointment, Leite emphasised Hallinan’s leadership skills in a release, and noted that she had a “proven ability to drive growth and innovation”. Leite continued: “This is the first of a planned series of appointments of highly skilled leaders with exemplary records of success who will help us accelerate our growth as we deliver a new, elevated and holistic customer experience that’s welcoming, innovative and highly personalised.” Prior to Ideal Image, Hallinan served for six years in a series of sales leadership roles at The RealReal, the most recent being vice president of direct sales. During her time at the tech company, she was credited with driving sustained year-over-year revenue growth and executing go-to-market strategies.
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Tuesday, May 2, 2023

ASU and FIDM unite to elevate the fashion profile of the Southwestern US

Arizona State University. Image: ASU Arizona State University (ASU) has announced that the Fashion Institute of Design and Merchandising in downtown Los Angeles will be part of the expansion of ASU’s fashion education program. ASU’s fashion program will now be named ASU FIDM, incorporating both the FIDM community and campus, and will operate in both Los Angeles and Phoenix. FashionUnited speaks to Dennita Sewell who leads ASU’s fashion program about the motivations behind the merger and what it means for students of ASU’s 6-year-old fashion program. “Since ASU purchased the California Center we have been excited about the potential with Los Angeles,” says Sewell. “A 45 minute flight from Phoenix, or you can drive it in 5 1/2 hours, it’s the closest major center of industry, and second after NYC as a fashion capital for the US.” ASU estimates that 13 percent of its fashion graduates make their way to NYC to begin their careers, but LA is a viable local hub for internships, industry collaborations, access to guest lecturers, as well as jobs and career potential. The California Center in downtown LA occupies a historic architectural landmark, the Herald Examiner building, that was renovated to suit ASU’s needs when it moved in a decade ago. While the ASU FIDM merger enhances brand recognition for ASU’s fashion program the collaboration works both ways as FIDM students can enjoy ASU’s extensive course offerings to personalize their fashion studies; For example, a fashion student who wants to minor in French. As a city, Los Angeles has a global cultural presence and a reputation for the couture glamor associated with Hollywood and the Academy Awards, but it is also regarded as a lifestyle leader and sets trends in casual off-duty style. The school’s LA network has already been forged in other fields of study. For journalism students, its Walter Cronkite School of Journalism and Mass Communication offers experience in partnership with the *LA Times* while those studying film at the The Sidney Poitier New American Film School are poised to seize any opportunity to get their foot in the door of the US film and television industry that surrounds the campus. Purpose-built airy fashion studios at ASU. Image: ASU The demand for fashion studies at Arizona State University Launched in 2017, Arizona State University’s fashion program is less well-known than many of the country’s fashion schools. Its progress was disrupted by Covid yet Sewell says enrollment continued to grow and there were no faculty layoffs. Pre-pandemic the fashion education market had already become oversaturated and student enrollment across the board was down. But says Sewell, “The program’s existence really came out of the demand and desire from the part of the students on campus who were petitioning the dean to include fashion in the school’s offerings.” The program enrolled 90 students in the first year, 250 in the second, and continues to grow. “Being the only significant program in the state and even in the region we decided that it was very important to include both design and business from the beginning,” says Sewell who noted that students were not just coming from creative foundations, but also from engineering, supply chain, and computer science. She puts this down to the fact that many parents weren’t ready to sign off on their children majoring in fashion. Among the regional demographic it wasn’t considered a serious field with legitimate career possibilities compared to other established professional routes. Much of Sewell’s work during the past 6 years has been disabusing parents and students of this viewpoint, expanding their understanding to see across this multi-trillion dollar global industry with all its different opportunities. Fashion student at work in sewing lab at ASU. Image: ASU Diversity and inclusivity fuel ASU’s fashion program “From the beginning we’ve had a very diverse group of students especially because of our region,” says Sewell. “ASU is a Hispanic Serving Institution which allows for a lot of new perspectives and fresh ideas to come out of here.” She says that the program’s forward-thinking messaging and philosophy was baked in from the word go, which affords them agility in responding to students’ needs. Because their closet is so new, there are no skeletons in it. “There’s been a lot of criticism of some of the more established and legacy programs across the country and how difficult it is for them to change course and curriculum,” says Sewell. “But the timing of when we started combined with the industry being so disrupted has all worked as a positive for us. We were able to start fresh and our whole attitude is about being flexible, being responsive.” Since the program’s launch the importance of being located in a fashion capital has also diminished, and technology’s advances post-Covid mean that it is perhaps becoming just as valid to be a Phoenix-based fashion student as relocating to an expensive city like NYC. “We are lucky to have the studios we moved into last year in a purpose-built space,” says Sewell. “Our facilities rival any in the country, light-filled, with ample space, and all new industry grade equipment. Our professors all have industry connections and experience because that’s another pillar of what we’re trying to do: create a program that’s in step with the industry.” A public university ASU receives funding through the New Economy Initiative, a partnership between state and local government and the state’s three universities designed to fuel growth in technology, manufacture and education and propel Arizona onto an international stage. Scottsdale Fashion Square, the thriving luxury mall containing international luxury brands such as Hermès and Balenciaga, hosts the ASU graduate fashion show. If its airy atrium and oval runway offer the ASU graduating class a launchpad to shoot for the stars, the marriage of ASU FIDM aims to bring about more such prospects. “We’re really excited to be positioning ourselves as two very powerful institutions working together,” says Sewell. “And to see what heights we can reach in the leadership space with creativity, business and international influence.”
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Chanel dismisses IPO rumour, confirms it will stay private

Image: Chanel via Unsplash Chanel's CEO, Leena Nair, has denied rumors of the company considering an IPO. In an interview with the Financial Times, Nair confirmed that the French luxury brand will continue to operate as a private and independent company. Ownership of Chanel is split among members of the Wertheimer family, who have been associated with the company since the 1920s. Alain and Gerard Wertheimer, grandsons of one of the original owners, control the company. Nair was appointed CEO in January 2022. Nair also emphasised Chanel's commitment to sustainability, stating that the company must encourage customers to buy less but of better quality in order to "decouple" revenue growth from sales volumes. Chanel plans to invest in carbon capture technologies to reduce its carbon footprint. Chanel, like other luxury brands, recognises that its customers seek more than just a product. The company has prioritised delivering exceptional customer experiences, including opening private salons for high-spending customers, to differentiate itself from competitors and create deeper emotional connections with its customers. Since the pandemic, Chanel products have seen stiff price increases, with some handbags now costing more than 70 percent compared to 2019 prices. In response to competition, luxury brands are investing heavily in providing outstanding customer value to justify the high prices to their customers. According to data from Bain & Company in 2020, even though luxury shoppers make up only about 10 percent of the global population, they account for roughly 60 percent of total luxury sales, indicating that this minority group is highly influential and valuable for luxury brands.
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The world is falling short to achieve the UN's Sustainable Development Goals by 2030

Image: Climate Change via Pexels The UN Secretary General has released a report updating progress made towards the Sustainable Development Goals (SDGs) indicator framework since 2015, as the world reaches the halfway point towards 2030. Unfortunately, the report paints a bleak picture, with only about 12 percent of the roughly 140 targets with data on track, close to half moderately or severely off track, and some 30 percent showing no movement or regression below the 2015 baseline. This lack of progress is universal, but it disproportionately affects developing countries and the world's poorest and most vulnerable people due to historical global injustices. The UN is sounding the alarm Carbon dioxide levels continue to rise, and renewables are projected to remain a small fraction of our energy supply in 2030, despite a small window of opportunity to limit global temperatures to 1.5 degrees and prevent the worst impacts of the climate crisis. The report urges global Heads of State and Government to recommit to seven years of accelerated, sustained, and transformative action, both nationally and internationally, to deliver on the promise of the SDGs. The report also highlights progress made in key areas such as energy and internet access and suggests that the transformation demanded by the SDGs is one of immense opportunity. However, failure to address the SDGs' triple planetary crisis (climate change, pollution, and biodiversity loss) could fuel greater political instability, displacement, and irreversible environmental changes that cause immense suffering for current and future generations, especially among the world's poorest and most vulnerable people and countries. The report concludes that the lack of progress is cause for alarm and that it is time to redouble efforts to eliminate poverty and hunger, advance gender equality, and overcome the triple planetary crisis. It calls on global leaders to embrace the UN's Climate Acceleration Agenda to drive a just renewables revolution and secure climate justice for those on the frontlines of the climate crisis.
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Uniqlo Japan April same-store sales up 1.7 percent

April 2023 same-store sales including online sales at Uniqlo Japan increased by 1.7 percent year on year while total sales including online sales increased by 5.9 percent. The company said in a release that same-store sales rose in April due to strong sales of inter-season haori-style jackets and new spring summer products that captured the latest fashion trends. The company, part of the Fast Retailing Group, opened 14 Uniqlo stores in Japan and closed nine during the month under review.
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Unilever experiences strong sales for Q1 driven by price growth

Image: Unilever British consumer goods group Unilever has announced its financial results for Q1 of 2023, largely defined by a strong underlying sales growth of 10.5 percent driven by price growth in response to cost inflation. Its price growth rose 10.7 percent, while all of its business groups and geographies also saw increases, including beauty and wellbeing, for which sales grew by 9.3 percent. The prestige beauty and health & wellbeing categories each experienced double-digit growth, now accounting for 5 percent of the group’s turnover. Unilever said its turnover rose 7 percent to 14.8 billion euros, with its brand portfolio accounting for 54 percent of said turnover, collectively delivering a sales growth of 12.1 percent. In terms of geographies, Latin America stepped up 18.7 percent, while China returned to positive, up 1.8 percent following the lifting of pandemic restrictions. While emerging markets saw sales rise 11.7 percent, developed markets increased by 8.7 percent. Volumes held up better in North America than in Europe, the group added. Product-focused operating model drives positive outlook The results come as an offset of Unilever’s efforts to turn to a more simpler, product-focused operating model, which was put into place July 1, 2022. Due to such measures, the company said it is expecting around 600 million euros of cost savings over the first two years, with the majority delivered in 2023. Additionally, following the completion of two 750 million euro tranches in 2022 of its ongoing three million euro share buyback programme, it launched a third tranche to be complete in July 2023. For the rest of its outlook, Unilever said that despite “a volatile and high-cost environment”, it is still expecting to deliver another year of strong sales growth in 2023, with an improved performance compared to the previous year. It is further anticipating a sales growth for the full year to be at least at the upper end of its 3 to 5 percent range, while its operating margin in the first half is expected to be at least 16 percent. In its report, CEO Alan Jope further underlined the strong performance of the company, noting that it was still continuing to execute strategic priorities. Jope continued: “We have stepped up both the effectiveness of our innovation and the investment behind our brands. “Our new operating model is driving focused resource allocation, and is unlocking a culture of bolder, faster decision-making and disciplined execution. “We remain focused on navigating through continued macroeconomic uncertainty and are confident in our ability to deliver another year of strong growth, which remains our first priority.”
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Monday, May 1, 2023

Armed robbers hit Paris Bulgari jewellery boutique

Armed robbers raided the Bulgari luxury jewellery boutique in the swanky Place Vendome in central Paris in broad daylight Saturday, making off with an estimated several million euros' worth of items, police and prosecutors said. Three people who arrived on two motorbikes entered the store in the popular tourist district at around 1:45pm local time (1145 GMT), a police source said, citing preliminary information. Two were carrying long weapons, the source added, saying they had hit a security guard. The full extent of the haul and damage estimated at several million euros (dollars) was still being assessed, another source close to the inquiry told AFP. The same Bulgari boutique was also targeted in a daylight armed robbery in September 2021, when thieves made off with some 10 million euros ($10.6 million) in loot. Video footage posted on social media networks on Saturday appeared to show two large black motorbikes parked on the pavement in front of the jewellery shop. A man in a helmet with a gun and wearing black clothes is seen apparently standing guard. Later, three men can be seen fleeing the scene on two motorbikes. An investigation into armed robbery has been opened, the Paris prosecutor's office said. Following the 2021 heist at the Bulgari store, one of the robbers was wounded in the leg by a police officer. He was arrested, charged and imprisoned. In June 2022, two other suspects, aged 26 and 37 at the time, were arrested. They were also charged and placed in pre-trial detention. The Italian jeweller Bulgari is owned by the French fashion conglomerate LVMH.(AFP)
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Doja Cat becomes Skechers’ first artist-in-residence

Doja Cat, Skechers' new artist-in-residence, wearing deconstructed Skechers Uno at Time100 Gala. Image: Skechers - Kevin Mazur / Getty Images American rapper and singer Doja Cat has been announced as the first-ever artist-in-residence for footwear brand Skechers. The Grammy-award winning star revealed the partnership during her performance at the Time100 Gala, where she sported a dress made from deconstructed Skechers Uno sneakers. While on stage, the singer said: “Skechers has given me a new canvas to create and I can’t wait to show everyone what we are building.” The Los Angeles-based brand later confirmed the announcement in its own press release, where it outlined Doja’s achievements in the music industry and beyond. Her most recent work included the single ‘Vegas’ for the Elvis Original Motion Picture, which was released in October 2022 and led her to not only have the most number ones at Pop Radio this decade, but also to have the most top 10s among women on the Billboard 100 this decade. The appointment comes on the back of Skecher’s Q1 report, in which it stated that its sales had increased 10 percent, largely driven by international growth and direct-to-consumer sales. The brand has been striking up a string of celebrity endorsements and partnerships in recent months, previously working with the likes of television host Martha Stewart, fashion designer Diane von Furstenberg and broadway star Ashley Park, who collaborated with Skechers on the Uno silhouette.
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Russian fashion designer Viacheslav "Slava" Zaitsev dead at 85

Modedesigner Slava Zaitsev bei Fashion Week in Moskau (2013). Foto: Alexander Nemenov / AFP Russian fashion designer Viacheslav "Slava" Zaitsev, dubbed the "Soviet Christian Dior", has died at the age of 85, his fashion house told AFP Sunday. Confirming Russian media reports, a spokeswoman added that when Zaitsev had celebrated his birthday in March with friends, "we could already see he was very, very, weak". "The couturier Viacheslav Zaitsev has died," Russian state channel Perviy Kanal reported, paying tribute to a man who "dictated Soviet and Russian fashion for decades, an innovator who wasn't afraid of bold experiments". "It's a great loss for the world of international fashion," Ria Novosti news agency quoted Russian stylist Sergei Zverev as saying. Russia's most famous fashion designer, Zaitsev achieved global success with bright dresses adorned with the flower patterns found on traditional Russian shawls. From a modest childhood in Ivanovo, a town of 400,000 people to the northeast of the capital, his career took him to the catwalks of Paris, New York and Tokyo. The French press in the 1960s dubbed him the "Soviet Christian Dior". Watched closely by the KGB because of his contacts with Western designers and his flamboyant character, Zaitsev was initially refused permission to leave the Soviet Union and his first collections were shown abroad without him. In 1962, Zaitsev's first collection of clothes -- a uniform for female workers that featured skirts with the flower patterns of traditional Russian shawls and multicoloured boots -- was rejected by Soviet authorities. "The colours were too bright and contrasted with the greyness of Soviet everyday life, where an individual should not differ from the rest of society," Zaitsev said in an interview with AFP in 2018. But the collection, nonetheless, attracted international attention. In 1963, French magazine Paris Match became the first Western media outlet to describe Zaitsev as a pioneer of Soviet fashion. Celebrity clients Born into a poor family with a mother who worked as a cleaner, he initially was barred from attending a top-flight university because his father, taken captive by the Nazis during World War II, had, like other former prisoners-of-war, been labelled an "enemy of the people" and sentenced to 10 years in a labour camp. "When I was a child, my mother taught me embroidery so I wouldn't roam the streets without purpose," he told AFP. "In the evenings I would pick flowers with girls on Lenin Avenue to draw them and recreate them in embroidery. That's how I began my adventure in art." He studied at a vocational college until the age of 18 and then went on to the unglamorous Moscow Textile Institute. "During my studies, I lived with a family whose children I looked after. The apartment was tiny and I slept on the floor under the table," he recalled. Later in life, between 2007 and 2009, he presented a popular television show called "The Verdict of Fashion," in which stylists dressed participants in the latest street looks. He counted several Russian movie stars, singers and the ex-wife of President Vladimir Putin, Lyudmila, among his clients.(AFP)
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Louis Vuitton showed its Pre-Fall 2023 collection from Seoul's iconic Jamsugyo Bridge

Image: Louis Vuitton Pre-Fall 2023, look 1, via Louisvuitton.com If there was a sense of unease at Louis Vuitton’s first catwalk presentation in Seoul, South Korea, it was the chill that came from the Han River, which flows through the heart of the city. But more likely it was the immersive set on the iconic Jamsugyo Bridge, designed by Hwang Dong-Hyuk, director of Squid Game, that reflected the incredible energy of the metropolis where past, present, and future coexist in harmony. Guests, which included various K Pop stars, were seated outside, to see the first of Louis Vuitton's pre-fall 2023 presentations. The collection began heavy on leather pieces, with sporty blousons tucked into skirts being the first looks, emphasising a strong and rebellious attitude. In place of sneakers and heels, tough biker boots were the dominant shoe, giving the impression that Louis Vuitton customers are not one to run away from any situation, but instead will own it. Especially on this windy bridge. Mr Ghesquière is known for his mastery of retro-futurism, but this collection also included playful nods to anime, the Japanese animation style. Mr Ghesquière often incorporates elements from past eras, such as the 1960s or 1970s, and combines them with futuristic or avant-garde elements. This creates a unique and innovative style that is both nostalgic and forward-thinking, incorporating elements such as metallic fabrics, oversized shoulders, and exaggerated shapes. The best pieces were more relaxed and less structured, with sensual yet tough layered prairie dresses and some exquisite pleated pieces that demonstrate why Ghesquière remains at the top of the fashion pyramid. The show's stunning location confirms South Korea's importance to luxury sales and LVMH's Asian strategy.
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G7 countries pushing for deal to ban sales of Russian diamonds

Image: Diamonds by Edgar Soto, Unsplash Ever since Russia invaded Ukraine in early 2022, a sore point of non-enforced sanctions has been the free flow of diamonds from Russia into Europe and the West. One of the reasons the sanctions have been bypassed is due to the revenue they bring to Antwerp and Belgian, arguably the diamond capital of the world, which relies heavily on Russian exports, which are thought to be up to 30 percent of Belgium’s diamond business. The Russian diamond output is higher than that of Botswana and Congo, two key countries where raw diamonds are mined. G7 governments are preparing an international ban on selling diamonds. Details were confirmed by a European government official involved in negotiations, who said the G7 are making progress in their preparations to announce an international ban on selling Russian diamonds. The announcement is expected to take place at the summit in Japan starting on May 19, as reported by Politico, a European news site. The coordinated push by the G7 is aimed at preventing sanctions from being evaded through tactics such as importing Russian diamonds that have been processed and relabelled in other regions. Spacecode, a Swiss company, claims to have developed a solution to this problem: a new device that can determine the specific region of origin for individual diamonds. Spacecode is a technology company that offers advanced intelligent inventory management solutions to the high-values diamond and jewellery industries, allowing the tracks and traces of diamonds in real time as well as solutions for anti-theft & anti-counterfeiting.
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