Is Farfetch exiting its beauty category?

Is Farfetch shuttering its beauty division? Credits: Farfetch In April last year, Farfetch made a grand entrance into the beauty sphere, creating quite a buzz. The launch of its own beauty category came on the heels of its acquisition of beauty retailer Violet Grey, resulting in the unveiling of its very own Farfetch Beauty. This new venture boasted an impressive lineup of over 100 brands, ranging from renowned British makeup artist Charlotte Tilbury to the esteemed Swiss luxury skincare brand La Mer. However, recent developments indicate that the category has encountered challenges, leading to reports that Farfetch may close down this division. According to insights from WWD, a fierce competition has been unfolding among retailers vying for the esteemed prestige beauty customer. A multitude of online players, including Net-a-Porter, Ssense, and The RealReal, have all dipped their toes into this category, with the latter shuttering operations earlier this year. Simultaneously, brick-and-mortar retailers have taken a deeper plunge into the beauty realm through strategic partnerships with industry giants such as Sephora and Ulta Beauty. Success and loyalty The foundations of brand loyalty and trust are pillars that the prestige beauty industry heavily relies upon. Established physical retailers have cultivated strong, enduring connections with customers over time. This poses a significant challenge for digital players aiming to swiftly establish similar rapport. Shoppers often gravitate towards purchasing beauty products from familiar and dependable physical stores, preferring them over emerging digital platforms. Within the beauty industry, the in-store experience also carries substantial weight. Potential buyers often desire the opportunity to physically engage with and evaluate products before committing to a purchase. This sensory encounter proves intricate to replicate online, even with the integration of advanced virtual try-on technologies. The tactile engagement and direct interaction in assessing cosmetics and fragrances hold a distinct appeal for shoppers. Beauty products, particularly those of a high-end nature, frequently exhibit complexity. Customers may find themselves in need of guidance while selecting the perfect shades, formulas, and products that align with their specific requirements. Conventional retailers adeptly offer in-person consultations and expert advice—elements that can prove difficult for digital platforms to effectively mirror. A slice of the beauty pie Statistics from McKinsey show that the expansive beauty market, encompassing skincare, fragrance, makeup, and haircare, raked in an impressive revenue of approximately 430 billion dollars in the year 2022. The allure of the beauty industry has enticed numerous new companies and investors to participate. Nevertheless, the key to triumph within this dynamic and increasingly competitive landscape lies in brands making strategic differentiations to stand out and flourish.
http://dlvr.it/StPZ6Y

Behind Von Dutch’s surprising return to the luxury market

Interview Von Dutch Paris creative director Earl Pickens, surrounded by celebrities: Big Money, Brooke Schofield, Tana Mongeau, Imari Stuart and Ari Aguirre at the brand's launch dinner in Malibu in November 2022. Credits: GONZALO MARROQUIN / GETTY IMAGES NORTH AMERICA / Getty Images via AFP A powerful fashion brand of the 2000s, Von Dutch (Royer Group) made a strong comeback with the 2020 launch of Von Dutch Paris, a clothing and accessories line that is about to gain visibility in the French market. "The idea of doing Von Dutch Paris actually goes back to 2017," Earl Pickens, Von Dutch creative director, confided by phone. “We were thinking about how to make a comeback with this brand." The comeback will be Parisian. A big surprise for this leading name in American culture, whose trucker cap has been popularised by celebrities such as Paris Hilton, Britney Spears and Justin Timberlake. But the Californian-born brand has its reasons. Firstly, Von Dutch Paris is based in Paris and was launched in France at Paris Fashion Week Men’s in June 2023. Secondly, Earl Pickens pointed out that the man who propelled the brand into the American market was French: Christian Audigier. Finally, the addition of the name Paris brings Von Dutch closer to the big names in Parisian fashion, who also offer luxury streetwear. The creative director was also keen to point out that the Von Dutch Paris’ manufacturing plants are the same as those of the French luxury heavyweights. Von Dutch now plays in the same league as Parisian labels such as Balmain, Celine and Balenciaga. In fact, when FashionUnited asked Earl Pickens who his target customer was, he replied: "Young girls under thirty who can buy shoes from Balenciaga". He goes on to say that it's more a question of mindset than age. Credits: Von Dutch Paris. ‘We didn't expect it’ Von Dutch Paris came as a surprise. Firstly, because its history is more associated with the ‘bling-bling’ aesthetic of American star Paris Hilton than with Parisian luxury, and secondly because its products are innovative. Von Dutch Paris' move upmarket is not just expressed in the Italian manufacturing of its items. Earl Pickens also stated he has put "more into the details, the fabric treatments, more into the hand embroidery", and proposed a more experimental aspect. The intention is clear: the company wants to distinguish Von Dutch Paris from Von Dutch. "We've tried to keep the two brands as separate as possible so that there's no competition between them. Earl Pickens, creative director of Von Dutch Paris. At Von Dutch Paris, T-shirts sell for between 250 euros and 400 euros (compared to 30 euros at Von Dutch), hoodies go for over 850 euros and denim pieces are priced between 300 euros and 1,000 euros. The big price difference with Von Dutch is also explained by the large number of leather items, a speciality of the young brand. "It's a big difference," stressed the creative director. "We've tried to keep the two brands as separate as possible so there's no competition between them." It is also a way of wiping the slate clean of the brand's sulphurous past, recounted in 2021 by Andrew Renzi in a docu-series broadcast on the Hulu platform. ‘A Brand to Die For’ highlighted the rise and fall of the company, including stories of sabotage, dirty tricks and attempted murder. With such a genesis, it's no wonder the revival of Von Dutch has come as such a shock. When we asked Earl Pickens how the brand had been received at its launch in the Paris pop-up store last June, he said: "I asked everyone to sign a book tracing the history of Von Dutch and the thing I noticed most was 'We didn't expect it'. Most people were surprised by the jeans, the leather, the well-made caps, the sunglasses. They weren't expecting that and it's been great feedback for me." Following its launch in the US, Von Dutch wants to focus on the French market. "The future of the brand is really for us to work on visibility in France. We have sales people who have started selling the brand. Boutiques [concept stores] are going to be delivered in Paris and the rest of France," informed Pickens. The number of pieces in the collection, meanwhile, is set to increase. In fact, the brand entered the optical market in March 2023 with the launch of a line of sunglasses. Aside from a potential presentation at Paris Women's Fashion Week in September, the label will be the subject of pop-up stores in Toronto and Los Angeles in August 2023. This article originally appeared on FashionUnited.FR. Translation and edit by: Rachel Douglass.
http://dlvr.it/StPZ3G

Item of the week: the oversized hoodie

(From left) O'Neill, Desigual and Nike. Credits: FashionUnited Marketplace. What it is: When the standard hoodie just won’t cut it, an oversized iteration takes comfort and warmth to another level. Oversized fits have become more popular than ever in recent years, as the casualisation of fashion continues to take the reins in design. It has even seen haute couture designers take such cues on board, many displaying a new level of high luxury in the form of baggy silhouettes that can be worn to the supermarket. The oversized hoodie is such that it has become a consistent wardrobe addition for all genders, presenting shoppers with a piece they can go back to time and time again. Burberry. Credits: FashionUnited Marketplace. Why you’ll want it: While the hoodie has always been a part of the casual clothing category, the oversized iteration of the garment has continued to rise in popularity, almost outrunning its fitted counterpart. The latter is a piece that most often appears among sportswear collections, in materials that are breathable and suitable to wear when moving. In an oversized format, however, fabrics tend to prioritise comfort, and therefore appeal to a wider target audience who are simply looking for an item to snuggle up in or throw on. Such a piece also doesn’t cater to the boundaries of seasons. It can be an item that is always there when needed, and therefore a valuable investment for shoppers. Superdry. Credits: FashionUnited Marketplace. Where we’ve seen it: As always, oversized hoodies made a regular appearance on runways, particularly defining the prominent casualwear segment of SS24 collections. If there was one brand that really led the way in breaking down the meaning of oversized, it was Vetements, which in all its typical grandeur, presented a hoodie that quite literally fell below the knees, in a size 16 XL, as noted on the garment’s front. While other brands didn’t go to such lengths, many did still challenge the confines of the standard silhouette. Dhruv Kapoor contrasted the choice of short sleeves with a drawn out hemline, while LGN Louis Gabriel Nouchi offered up a sizable zip up iteration. JW Anderson’s take on oversized differed, with hoodies that appeared in puffed up, more rigid shapes, in keeping with the designer’s typical fantastical style. Axel Arigato. Credits: FashionUnited Marketplace. How to style it: The great thing about the oversized hoodie is that there is no pressure when it comes to styling the item. Its exaggerated shape allows for the wearer to layer the piece over whatever outfit they desire, or simply pair it with casual attire like leggings or sweatpants, therefore taking away any need to dress it up. The piece can work well simply as a layer over eveningwear too, as an item that can be brought along almost as an afterthought on an evening that may turn chilly later on. Superdry. Credits: FashionUnited Marketplace. The oversized hoodie is a natural progression of the classic hooded sweater, appealing to those looking for a simple layering addition for any occasion they may find themselves in. 11 Degrees. Credits: FashionUnited Marketplace. Similar items available for (pre)order can be found in the FashionUnited Marketplace. You can find them by clicking on this link.
http://dlvr.it/StPZ1M

Born X Raised and Stüssy unveil streetwear collaboration

Credits: Photo by Antosh Cimoszko. Courtesy of Born X Raised. Stüssy has joined forces with Los Angeles-based Born X Raised for a new, limited-edition capsule. United by deep roots in street culture and style, the collection marks the first venture between the two West Coast brands. The collection will be available on both Stüssy and Born X Raised sites August 11. A mainstay of the iconic brand, Stüssy has teamed up with several brands this year across fashion, home, and beauty categories. The upcoming capsule follows Stüssy’s recent partnerships with Comme des Garçons Parfums and Martine Rose, while Born X Raised is fresh off a collaboration with the L.A. Dodgers. With an assortment of tees, outerwear, and accessories, the collection merges a sportswear spirit with everyday streetwear pieces that nod to the waning California summer. In addition to apparel, the collection also offers a range of collectible items, including a branded beach towel and a custom Zippo lighter. Various elements that speak to both distinctive brand identities are present throughout the collection, from the bespoke dual-logo to the Stüssy eight ball motif. Another signature is the “Handstyle” tee, the only of three tee shirts that features handstyle graffiti work from Spanto and 2Tone, the co-founders of Born X Raised. Spanto, who passed away earlier this year, is commemorated on the back of the shirt. Credits: Photo by Antosh Cimoszko. Courtesy of Born X Raised. Credits: Photo by Antosh Cimoszko. Courtesy of Born X Raised. Credits: Photo by Antosh Cimoszko. Courtesy of Born X Raised.
http://dlvr.it/StPYxK

Under Armour Q1 revenues drop, outlook maintained

Credits: Image: Under Armour shop in New York. Stock photo First quarter revenue at Under Armour was down 2 percent or down 1 percent currency neutral to 1.3 billion dollars. The company’s gross margin declined 60 basis points to 46.1 percent, operating income was 21 million dollars, net income was 9 million dollars and diluted earnings per share were 2 cents. "We're pleased with how we have navigated our start to fiscal 2024," said Under Armour president and CEO Stephanie Linnartz in a release, adding, "Our international and direct-to-consumer businesses, both of which realised solid growth in the quarter, continue to deliver aside a challenging consumer retail environment in North America. Based on this performance, we are maintaining our outlook for fiscal 2024." Review of Under Armour’s Q1 performance The company said, wholesale revenue for the quarter decreased 6 percent to 742 million dollars and direct-to-consumer revenue increased 4 percent to 544 million dollars due to a 6 percent increase in ecommerce revenue, which represented 40 percent of the total direct-to-consumer business in the quarter, and a 3 percent increase in the company-owned and operated store revenue. North America revenue decreased 9 percent to 827 million dollars and international revenue increased 12 percent or 15 percent currency neutral to 485 million dollars. Within the international business, revenue increased 10 percent or 11 percent currency neutral in EMEA, 14 or 21 percent percent in Asia-Pacific and 13 percent or 5 percent in Latin America. Apparel revenue decreased 5 percent to 825 million dollars, footwear revenue increased 5 percent to 364 million dollars and accessories revenue increased 1 percent to 98 million dollars. Under Armour maintains fiscal 2024 outlook The company has maintained its outlook for the year ahead, which was provided on May 9, 2023. The company added that revenue is expected to be flat to up slightly. Gross margin is expected to be up 25 to 75 basis points compared to the prior year's rate of 44.9 percent, operating income is expected to reach 310 million dollars to 330 million dollars and diluted earnings per share are expected to be between 47 cents and 51 cents.
http://dlvr.it/StPYsk

UdK Berlin to hold international conference on fashion and sustainability

Credits: Official conference promotional visual, via UdK Berlin. The University of the Arts Berlin, or Universität der Künste Berlin (UdK), has announced it will be hosting an international conference on fashion and sustainability from September 15 to September 16. The conference is entitled “De-Fashioning Education - A critical thinking and making conference” and will “explore how fashion thinking and making, learning and teaching can and must change in the light of environmental and social challenges,” the press release shared by the university reads. The two-day programme brings together teachers, learners, researchers, actors and activists from twenty countries. The conference will provide insight into learning and teaching practices and didactic innovations through lectures, project presentations, workshops, screenings, museum tours and walks. De-Fashioning Education will feature speakers such as Sandra Niessen, independent scholar and defashion activist from The Netherlands, Sunny Dolat of The Nest Collective, Kenya, Loreto Martínez and Tamara Poblete of the Colectivo Malvestidas from Chile. As well as Otto von Busch, professor of Integrated Design, at Parsons School of Design in the US and his Parsons colleague Christina H. Moon, associate professor of Fashion Studies, textile curator Mayank Mansingh Kaul from India and creative director Anjana Das, also from India. In addition, the Berlin event will include twenty interactive workshops and The Incidental Quilt: a Hybrid Conference Community Practice with The Queer Needlework Circle Berlin, and Clare Farrell and Yr Jóhannsdottir. The conference will take place at various UdK locations in Berlin and attending it is free of charge. Those interested can register online or in person.
http://dlvr.it/StLxBp

Resort 24 print trends: python, checks and stripes: classics with a twist

Credits: Burberry, Ermanno Scervino, Rowan Rose Resort 24/Launchmetrics Spotlight There are certain prints that pop up every runway season. In particular, animal prints, stripes, checks and plaids can be so varied that designers are free to experiment with them and present fresh looks; plus consumers find such structural patterns reassuring. For the resort season, there were many snake prints, a wide variety of plaids and checks as well as various sorts of stripes. Snake Eyes Animal prints are a fashion perennial; perhaps because they can offer a maximal and a minimal look at the same time. For Resort 24 several designers showed snake prints and even more specifically, python prints. Balmain – designer: Olivier Rousteing Balmain resort 24 Credits: Balmain resort 24/Launchmetrics Spotlight The designer showed a heavily print-driven collection for resort, with plenty of western references. Among the stand-outs were several python-printed leather pieces. They were mostly rendered in natural colors. Balmain resort 24 Credits: Balmain resort 24/Launchmetrics Spotlight However, look 33 consisted of a blue and brown python-print jacket and an orange and brown python-print pleated skirt. Balmain resort 24 Credits: Balmain resort 24/Launchmetrics Spotlight Look 36 included a blue and brown python-print trench coat. Balmain resort 24 Credits: Balmain resort 24/Launchmetrics Spotlight In contrast, look 40 included a black and white python-print jacket and a black and red shawl with a sweeping black fringe. Isabel Marant - artistic director Kim Bekker Isabel Marant resort 24 Credits: Isabel Marant resort 24/Launchmetrics Spotlight Marant was another brand to lean on python-print leather for pre-spring. Among the looks were short shorts, a bomber jacket and thigh-high boots, all rendered in natural shades. Ermanno Scervino Ermanno Scervino resort 24 Credits: Scervino resort 24/Launchmetrics Spotlight The python print at Scervino was rendered in natural shades, as well as in blue and in green. In some cases it was airbrushed on lace pieces or digitally printed on recycled fabrics. Ermanno Scervino resort 24 Credits: Scervino resort 24/Launchmetrics Spotlight Check-In Time Just like animal prints, checkered prints and patterns pop up every season. There is something classic and a bit retro about them. Resort 24 will be no exception, with gingham, plaid and houndstooth all resonating. Burberry – designer: Daniel Lee Burberry resort 24/ Credits: Burberry resort 24/Launchmetrics Spotlight For his second collection for the brand, Lee took a modern take to the Prince of Wales check. He showed a series of styles, including coats, suits and dresses, in a pattern that was traditional at the top and warped at the bottom. In other parts of the collection, there was a liberal use of houndstooth checks and other plaid patterns. Adeam – designer: Hanako Maeda Adeam resort 24 Credits: Adeam resort 24/Launchmetrics Spotlight Maeda chose a classic black and white gingham check for a sleeveless top with a peplum and a matching gored mini skirt. Look 20 consisted of a long-sleeved top and pleated front pants in the same black and white gingham check. Adeam resort 24 Credits: Adeam resort 24/Launchmetrics Spotlight Tanya Taylor Tanya Taylor resort 24 Credits: Tanya Taylor resort 24/Launchmetrics Spotlight The New York-based designer is well known for producing eye-catching prints, and her resort 24 collection was no exception. In addition to a wide variety of florals, was a black and white gingham check, shown on a full-length dress under a black leather belted jacket as well as on a long trench coat teamed with camel-colored canvas. Tanya Taylor resort 24 Credits: Tanya Taylor resort 24/Launchmetrics Spotlight In a third look Taylor showed a halter-neck top with a large bow in the same gingham check teamed to a long sarong style skirt in a bold blue and black floral print on a white background. Tanya Taylor resort 24 Credits: Tanya Taylor resort 24/Launchmetrics Spotlight Balmain – designer: Olivier Rousteing Balmain resort 24 Credits: Balmain resort 24/Launchmetrics Spotlight Black and white gingham pants and a diamond shaped check top with matching gloves was shown under a bold red and white houndstooth jacket. A Change in Stripes Rowan Rose – designer: Emma Rowan Rose Rowan Rose resort 24 Credits: Courtesy, Rowan Rose resort 24 The French designer showed a button-through shirt in a bold variegated stripe in shades of emerald green, red and mint. An above-the-knee skirt was in a matching stripe but cut on the bias and draped at the waist and a longer version with a side split. Rowan Rose resort 24 Credits: Courtesy, Rowan Rose resort 24 Carolina Herrera – designer: Wes Gordon Carolina Herrera resort 24 Credits: Carolina Herrera resort 24/Launchmetrics Spotlight Wes Gordon’s resort 24 show took full advantage of its Rio setting with a series of looks in bright colors and bold prints. For looks 16 and 18, he rendered a cropped knit cardigan, shorts and a tank style dress in wide stripes of red, orange, yellow, pink, fuchsia and purple. He contrasted with black and white polka dot accessories. Carolina Herrera resort 24 Credits: Carolina Herrera resort 24/Launchmetrics Spotlight Christian Siriano Christian Siriano resort 24 Credits: Courtesy, Christian Siriano resort 24 For his first resort 24 look, the New York designer showed a black and white striped wide-leg trouser suit with a double-breasted blazer that matched fabric used in his furniture collection. Christian Siriano resort 24 Credits: Courtesy, Christian Siriano resort 24 For his second look he used the same material for a dramatic ball gown. Christian Siriano resort 24 Credits: Courtesy, Christian Siriano resort 24 Look 8 consisted of a top, pants and a dress in a dramatic black and white variegated stripe.
http://dlvr.it/StLx4F

Video: Valentino SS24

Valentino SS24 Credits: Launchmetrics Spotlight In this video you can see Valentino’s SS24 collection presented at Milan Fashion Week. Video: FF Channel via Youtube
http://dlvr.it/StLx10

Video: Missoni SS24

Etro SS24 Credits: Launchmetrics Spotlight In this video you can see Etro’s SS24 collection presented at Milan Fashion Week. Video: FF Channel via Youtube
http://dlvr.it/StLwxc

Gucci continues commitment to accessibility and inclusion, despite leadership changes

Four Gucci employees smile at the Disability:In Awards holding the “Best Place to Work for Disability Inclusion” award Credits: Gucci Equilibrium website While Gucci's recent media coverage has predominantly highlighted shifts in leadership and a deceleration in Kering's revenue, noteworthy strides are being made in the brand's endeavors toward accessibility and inclusion. Under previous creative director Alessandro Michele and chief Marco Bizzari, Gucci became a brand with steadfast dedication to accessibility and disability inclusion, yielding remarkable advancements across all organisational tiers - from corporate headquarters to customer interactions within their stores. In the US its commitments were underscored with an accolade for "Best Place to Work for Disability Inclusion," as awarded by the Disability Equality Index. Now, as new technologies revolutionise the retail industry, Gucci said it is broadening its partnership with Aira, a smartphone-based visual interpreting service catering to blind and low-vision patrons. The initiative underscores the brand's enduring pledge to fostering inclusivity and accessibility for both customers and employees. Following a successful launch in Miami Bal Harbour and Beverly Hills stores, Gucci is poised to extend the Aira service to an additional 22 locations across North American cities, including New York, Washington, D.C., Detroit, Houston, Toronto, San Francisco, Philadelphia, Chicago, and Atlanta. Fostering disability inclusion Within the workplace, Gucci's systematic transformation aims to generate increased prospects for individuals with disabilities. The company's distinction in the Disability Equality Index, a benchmark tool developed by the American Association of People with Disabilities (AAPD) and Disability:IN, underscores its preeminent position in the realm of accessibility and disability inclusion, having achieved a perfect score of 100. Guided by the Global Equity Board, which includes notable figures like Sinéad Burke and Bethann Hardison, Gucci sets ambitious objectives aligned with Kering's broader diversity, equity, and inclusion mission. The Diversity & Inclusion Committee further translates these goals into actionable policies. As the company undergoes a radical transition under new operational and creative management, there is hope the foundation it has built will not be lost.
http://dlvr.it/StLwvL

Buckle Q2 comparable sales decrease 3.3 percent

Credits: Image: Buckle shop Image credit: 42031454 © Boggy | Dreamstime.com The Buckle, Inc. comparable store net sales for the second quarter decreased 3.3 percent, while net sales for the quarter decreased 3.2 percent to 292.4 million dollars. Comparable store net sales for the month of July decreased 1.3 percent. The company said in a release that net sales for the month under review decreased 2.6 percent to 95.1 million dollars. The company added that comparable store net sales for the first six months decreased 6.3 percent and net sales decreased 5.9 percent to 575.3 million dollars compared to the same period last year. Headquartered in Kearney, Nebraska, Buckle currently operates 440 retail stores in 42 states.
http://dlvr.it/StJPQs

Pakistan Accord outlines first supplier list for signatories

Karachi, Pakistan. Credits: Unsplash. The Pakistan Accord, an agreement formulated by the International Accord, has published its first list of suppliers, providing its signatories with an overview of the names, addresses and production processes, among other things, for those covered under the deal. The list comprises information on over 400 factories that supply 52 of the accord’s signatory brands, with the organisation stating that this number is expected to grow as newer participants begin to disclose their supplier information in the coming days. In a release, Joris Oldenziel, executive director of the International Accord, said: “This list holds immense value for us and all our stakeholders. Instead of merely naming the facilities supplying to our Pakistan Accord signatories, the data points in this list provide important details on the structure, floors, workforce size, and active brands within each supplier facility. “We look forward to this information playing a key role in mapping the Pakistani textile and garment industry and in ensuring transparency and accountability within the supply chains of our signatories.” There are a total 64 garment and textile brands that have joined the Pakistan Accord so far, just months after it had first been launched in December 2022. The accord’s introduction came after a decade-long push towards a safer factory industry in Pakistan, and had initially been modelled on the Bangladesh Accord, which was established after the 2013 Rana Plaza factory collapse. The legally-binding agreement requires companies to adhere to time-bound renovation plans in a bid to eliminate hazards highlighted during health and safety inspections. It further ensures that suppliers have the resources to pay for such renovations, while additionally protecting all workers throughout a brand's supply chain.
http://dlvr.it/StJPMl

AllSaints reports ‘record’ sales as international expansion continues

AllSaints Manchester storefront. Credits: AllSaints. British fashion retailer AllSaints has published its financial results for the year-ended 28 January 2023, during which time it said it saw “record sales and profits” as it continued on the path of international expansion. The group’s revenue rose 36 percent to 457 million pounds, up from 337 million pounds in the year prior, with its central AllSaints brand welcoming a revenue increase of 25 percent to 390.9 million pounds. For the label, revenue for both retail and non-retail was on the rise, increasing 22 and 44 percent respectively. Meanwhile, the company’s New York-based menswear brand John Varvatos, which was acquired by AllSaints in October 2021, reported revenues of 66.1 million pounds. The group’s operating profit was up from 18.4 million pounds to 28.5 million pounds, while its gross profit margin also took a step up, from 61 to 62.2 percent, driven by stronger full price trading. Its net cash position sat at 46.8 million pounds in comparison to the 31.1 million pounds it reported at the end of the previous period. AllSaints moves into China, John Varvatos returns to growth AllSaints credited its positive trading performance to its investment into a new e-commerce platform, as well as the roll out of new products and stores in Taiwan, South Korea and mainland China, where the company most recently opened its first AllSaints store in the country in April 2023. Alongside this, the brand has also launched into new categories, including sunglasses which were introduced in spring. In a release, Peter Wood, CEO of AllSaints, said: “This has been a record year for AllSaints, and these results are a huge credit to the passion, creativity and hard work of our fantastic team around the world. “The performance has been driven by our intense focus on product development, e-commerce excellence, growing our global store network, and rigorous inventory management. “During its first full year with us, we’ve also been pleased with the performance of John Varvatos, which has returned to growth and is showing huge potential in the alternative luxury menswear market. “Given the strong momentum across both brands, and our proven resilience in even the most challenging consumer environments, we remain hugely confident in the group’s future prospects.”
http://dlvr.it/StJPKx

Job losses feared ahead of Frasers’ potential Studio Retail merger

Studio Retail e-commerce site. Credits: Studio Retail. Employees of Studio Retail are understood to be anticipating job losses ahead of a potential merger between the company and two others owned by Mike Ashley’s Frasers Group. It is believed concerns had been sparked by a letter from Paul Kendrick, the chief executive of Studio Retail, which Frasers had rescued from administration in a one pound deal early 2022. According to LancsLive, which had initially reported the news, the letter detailed information about “significant cost efficiencies”, with the move to allow Studio Retail to “benefit from the longer-term group investments in technology by working on a shared platform”. The media outlet said that the proposal would possibly involve transferring all the business operations of I Saw It First and Missguided, two e-commerce fashion platforms Frasers acquired last year, to a single structure under Studio Retail. Staff were understood to have been briefed on the matter in a consultation meeting on July 17. In response, LancsLive said that Conservative MP Sara Britcliffe, Labour MP Graham Jones and union USDAW are stepping in to discuss the firm’s future and any potential job loss in the area of Hyndburn, where the company is headquartered. Britcliffe said in a statement: “I have worked closely with Studio Retail to protect jobs in Hyndburn in the past. I have been in touch with Studio’s CEO to ascertain how this will impact Hyndburn. As always, I will do my utmost to protect jobs here at home.”
http://dlvr.it/StJPHr

Salvatore Ferragamo CFO to become CEO of MinervaHub

Alessandro Corsi, CEO of MinervaHub. Credits: MinervaHub. Alessandro Corsi, the chief financial officer of Salvatore Ferragamo, will be stepping down from his role at the luxury fashion group to become chief executive officer of Italian manufacturing company MinervaHub. Set to assume the position on October 2, Corsi has been tasked with implementing the artisan industrial model of MinervaHub with an integrated platform for partners in the luxury sector. In a release, executive chairman of MinervaHub, Matteo Marzotto, said on Corsi’s appointment: “I extend a warm welcome to Alessandro. “I believe that the experience gained, and his brilliant career will be able to make a decisive contribution to the extraordinary platform of skills and creativity that MinervaHub represents, further enhancing our characteristics as a global unicum at the service of the best beautiful and well-made products in Italy.” Prior to this role, Corsi had served at the Salvatore Ferragamo Group since 2003, first entering in the group planning and control department and over time taking on positions of increasing responsibility. During his time at the company, he supported the group’s CEO on markets and strategic projects, including the company’s stock market listing in 2011. He stepped up to the position of chief strategy officer in 2018, and later became chief financial officer in January 2019.
http://dlvr.it/StJPC7