Zumiez increases sales and earnings in Q4

Zumiez Inc. net sales for the fourth quarter increased 4.6 percent to 346.7 million dollars. Compared to the fourth quarter 2021 net sales increased 5.5 percent. Net income was 38.2 million dollars or 1.70 dollars per diluted share compared to 42.8 million dollars or 1.68 dollars per diluted share, in the fourth quarter of the prior fiscal year. Net income for the fourth quarter of 2019 was 37.9 million dollars or 1.48 dollars per diluted share. Total net sales for fiscal 2021 increased 19.5 percent to 1,183.9 million dollars. Compared to fiscal 2019, net sales increased 14.5 percent. Net income for the year was 119.3 million dollars or 4.85 dollars per diluted share compared to 76.2 million dollars or 3 dollars per diluted share and compared to net income for fiscal 2019 of 66.9 million dollars or 2.62 dollars per diluted share. Commenting on the results, Rick Brooks, chief executive officer of Zumiez, stated: “Fiscal 2021 was a year of tremendous growth and record profitability for Zumiez. Our multi-year success is directly attributable to the execution of the long-term consumer centric growth strategy the company has been building and evolving since its inception.” Zumiez first quarter-to-date sales decrease 1.9 percent Total first quarter-to-date sales for the 35 days ended March 5, 2022 decreased 1.9 percent. Given the positive impact of stimulus on net sales in the first quarter of fiscal 2021 and the current economic uncertainty, the company anticipates that net sales for the first quarter of fiscal 2022 will be between 215 million dollars and 221 million dollars, down from the prior year. Earnings per diluted share for the quarter are expected to be break-even to positive 10 cents per diluted share. The company currently intends to open approximately 34 new stores in fiscal 2022, including up to 15 stores in North America, 14 stores in Europe and five stores in Australia.
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Pri Shumate to join Columbia brand as chief marketing officer

Image: Pri Shumate, Business Wire Columbia Sportswear Company has announced the appointment of Pri Shumate as chief marketing officer for the Columbia brand. In this role, the company said, Shumate will report to Joe Boyle, executive vice president and president of the Columbia brand, effective March 14, 2022. “Pri is a consumer-obsessed marketing leader with global experience in demand creation. I feel certain that her background and dynamism will help drive continued growth for the company,” said Joe Boyle. “We are excited to have Pri join our team leading the marketing efforts in the largest brand in our portfolio,” said Tim Boyle, chairman, president and CEO of Columbia Sportswear. “I am really excited about growing the Columbia brand and the business by diversifying and expanding our consumer base,” added Pri Shumate.
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Adidas posts strong growth in 2021, forecasts higher FY22 results

Image: Adidas AG In 2021, Adidas was able to increase its currency-neutral revenues by 16 percent. In euro terms, the company’s revenues increased 15 percent to 21.234 billion euros. In total, the company said, the challenging market environment in Greater China, extensive covid-19-related lockdowns in Asia-Pacific as well as industry-wide supply chain disruptions reduced revenue growth by more than 1.5 billion euros during the year. Commenting on the financial results, Kasper Rorsted, CEO of Adidas said in a release: “In 2021, we delivered a strong set of results despite several external factors weighing on both demand and supply throughout the year “Wherever markets operated without major disruptions we have been experiencing strong top-line momentum. In 2022, we will build on this momentum and continue to grow both our top- and bottom-line at double-digit rates amid heightened uncertainty.” Review of Adidas’ 2021 performance The company’s wholesale revenues as well as sales in Adidas’ own-retail stores grew at strong double-digit rates in 2021. E-commerce revenues increased 4 percent during the year, on top of the exceptionally high growth in 2020 when e-commerce revenues had grown by more than 50 percent. The company added that currency-neutral sales in EMEA, North America, and Latin America increased by 24 percent, 17 percent and 47 percent, respectively. At the same time, the challenging market environment in Greater China, up 3 percent and the extensive covid-19-related restrictions in Asia-Pacific, up 8 percent, weighed on Adidas’ results in these markets. The company’s gross margin increased 0.7 percentage points to 50.7 percent. As a result of the strong top-line increase in combination with the improved gross margin and lower operating expenses as a percentage of sales, the company’s operating profit increased 166 percent to 1.986 billion euros and the operating margin increased 5.3 percentage points to 9.4 percent. Net income from continuing operations increased 223 percent to 1.492 billion euros in 2021 and both basic and diluted EPS from continuing operations also increased 223 percent to 7.47 euros. The company further said that the Adidas executive and supervisory boards will recommend paying a dividend of 3.30 euros per dividend-entitled share, representing an increase of 10 percent compared to the prior year dividend. Adidas posts decline in Q4 revenues The company said, currency-neutral revenues in the fourth quarter declined 3 percent. In euro terms, Adidas revenues were flat versus the prior year at 5.137 billion euros. Significant supply shortages as a result of the lockdowns in Vietnam last year, the challenging market environment in Greater China as well as covid-19-related lockdowns in Asia-Pacific reduced revenue growth by more than 400 million euros in Q4. DTC revenues were stable versus the prior year, reflecting a 14 percent increase compared to the 2019 level. While Adidas e-commerce revenues experienced a strong increase in full-price sales, revenues in the company’s own digital channel declined by 2 percent. Compared to the 2019 level, e-commerce revenues grew 39 percent in the fourth quarter. The company’s currency-neutral revenues in North America declined 4 percent during the quarter. While EMEA was also significantly impacted by the supply shortages, revenues grew 15 percent, driven by double-digit growth in both DTC and wholesale. Fourth quarter revenues in Latin America improved 9 percent, reflecting strong double-digit growth versus the 2019 level. Revenues in Greater China, down 24 percent and APAC, down 6 percent, declined due to the supply shortages, covid-19-related restrictions and – in the case of China – the challenging market environment. In the fourth quarter, the gross margin declined by 0.1 percentage points to 49 percent. Operating profit amounted to 66 million euros, resulting in an operating margin of 1.3 percent. Net income reached 123 million euros in the quarter compared to 143 million euros last year. Both basic and diluted EPS from continuing operations were 0.58 euros compared to 0.70 euros in Q4 2020. Adidas expects currency-neutral sales to increase between 11 percent to 13 percent After the recovery from the coronavirus pandemic in 2021, Adidas expects double-digit top-line growth to continue in 2022 amid heightened uncertainty. Driven by the execution of the company’s strategy ‘Own the Game’ as well as its strong product pipeline currency-neutral revenues are projected to increase at a rate between 11 percent and 13 percent. From a regional perspective, currency-neutral revenues are expected to increase in all markets. While currency-neutral sales in North America and Latin America are projected to grow at a mid- to high-teens rate, currency-neutral revenues are expected to grow at a rate in the mid-teens in EMEA and Asia-Pacific. Greater China is expected to record a sales increase in the mid-single digits. Adidas’ gross margin is expected to continue to increase and reach a level of between 51.5 percent and 52 percent. The company’s operating margin is expected to increase to a level of between 10.5 percent and 11 percent. Driven by the strong top-line growth in combination with the margin improvements, net income from continuing operations is projected to increase to a level of between 1.8 billion euros and 1.9 billion euros in 2022.
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Carbon38 unveils new brand identity

Image: Carbon38 Direct-to-consumer performance fashion retailer, Carbon38 has unveiled a refreshed brand identity and updated its website to highlight the brand’s evolution. Co-founded in 2012 by chief executive Katie Warner Johnson, Carbon38 is launching a new brand identity to reflect the company’s transformation, which has developed into a 100 million US dollar business in just six years and generating more than 350 million US dollars in lifetime sales. The new brand logo has been designed to mirror the brand’s progression, while staying true to its founding goal, to curate functional, elevated collections, alongside its renewed focus on activity-driven styles, and is highlighted with a sleek, clean typeface that has an Art Deco feel to it. Alongside the new branding, Carbon38 has also updated its digital user experience, following its migration to Shopify in 2021, with a virtual storefront that can add extra modules for further storytelling and provide guidance for styling and similar offerings. This is all focused through a refreshed visual brand direction, added Carbon38, which it states will focus on an activity-driven assortment, where the visuals move from studio to elevated lifestyle. Carbon38 offers more than 265 brands, 70 percent of which are female-led, alongside its own Carbon38 label that includes exclusive fabric offering, including the Takara Shine, which has sold over 200,000 pairs since its launch. Following the re-launch, Carbon38 added that the year ahead will bring additional initiatives, including a redesigned ambassador programme, brand spotlights, enhanced activations, and trend outfitting, as it continues to drive forward the brand. Commenting on the brand refresh and outlook for Carbon38, Johnson said in a statement: “Since the inception of Carbon38, the activewear industry has exploded, with womenswear being one of the fastest-growing segments in the market. This growth has been both exciting and challenging. Our committed customers have continued to drive us forward and inspired us to continue to better our best. “It is because of their loyalty that we are able to enter this next phase of Carbon38, which I feel will be our best yet. I am excited to lead Carbon38 2.0 through our ‘Plan to Win’. We are doubling down on creating and curating the best product in terms of fit, fabric, and fashion. We are recommitting, at a personal level, to our incredible community of customers who supported us through our first 8 years. And we are excited to meet the next wave of customers as we strive to serve her ever-evolving needs.”
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Video: Gauchere FW22 collection

In this video, fashion label Gauchere has presented its FW22 collection at Paris Fashion Week (PFW). Watch the video below. Video: IMAXtree.tv via YouTube Photo credit: Image via IMAXtree.tv on YouTube
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A Cold Wall opens second store in Korea

Image: A Cold Wall at Lotte department store in Jamsil, Seoul / A Cold Wall After London streetwear brand A Cold Wall opened its first retail store at Hyundai Coex department store in Seoul, South Korea, last month, a second one followed, also in the capital. Like the first shop, it is a concept store developed in collaboration with South Korean fashion consultancy and importer Modern Works. The 53-square-metre shop is located on the fourth floor of well-known Lotte department stores' in the city’s Jamsil district. The store-in-store is part of the men's department and again, designer and founder Samual Ross' knowledge of industrial design went into the shop's aesthetic. It picks up on the brand's visual language to create an innovative space with a wide range of clothing, accessories and exclusive products. Image: A Cold Wall at Lotte department store in Jamsil, Seoul / A Cold Wall “In keeping with the label’s fundamental tenets of culture and community, Ross seeks to offer Korea’s engaged and informed audience a truly immersive entry into the ACW universe,” said the brand in a press release. As in the Hyundai Coex department store, the most striking feature is the bright orange colour, which the brand says “creates a palpable energy throughout the space” and “signals positive intentions”. Also read: * A Cold Wall enters Korea with first physical store * Video: A Cold Wall at Milan Men's Fashion Week
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Video: Acne Studios FW22 collection

In this video, fashion label Acne Studios has presented its FW22 collection at Paris Fashion Week (PFW). Watch the video below. Video: Acne Studios via YouTube Photo credit: Image via Acne Studios on YouTube
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Fashion brands show support to Ukraine and halt sales in Russia

Image: Pexels by Mathias P.R. Reding Following the Russian invasion of Ukraine, pressure has been mounting on the fashion industry to do more to support the country and to cut off their Russian revenue streams. Vogue Ukraine is urging major fashion companies to place an embargo on Russia as luxury goods have not yet been included in international sanctions. "In the wake of unprecedented military aggression from the Russian Federation and growing humanitarian crisis in Ukraine, Vogue UA urges all international fashion and luxury conglomerates and companies to cease any collaborations on the aggressor’s market effective immediately," the publication wrote on Instagram. It added: “These measures should apply to the brands and other entities that produce and also distribute and sell fashion goods, accessories, fine jewellery and watches, luxury lifestyle products in the Russian market. “Showing your conscience and choosing humanity over monetary benefits is the only reasonable stand one can take in confronting the violent behaviour of Russia.” Vogue Ukraine urges embargo on fashion and luxury goods to Russia YNAP, which owns Net-a-Porter, Mr Porter, Yoox and The Outnet, were one of the first to stop shipping to Russia, stating that all orders would be “suspended until further notice,” while Balenciaga became one of the first Paris Fashion Week brands to its show support to Ukraine by clearing its Instagram feed and dedicating it to channels to sharing reports on the war. “We stand for peace and donated to WFP (the World Food Programme) to support first humanitarian help for Ukrainian refugees,” said Balenciaga on Instagram. “We will open our platforms in the next days to report and relay the information around the situation in Ukraine.” This then led to other designers, retailers and suppliers stepping away from Russia and donating to charities to support Ukrainian refugees, including H&M, Asos, John Lewis, Kurt Geiger, Ganni, Nike, Boohoo, and Nanushka. H&M Group temporarily pauses all sales in Russia H&M Group, which includes H&M, Cos, Monki, Weekday, & Other Stories, and Arket, has announced that it is “deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering”. In a show of support, H&M Group said that it was temporarily pausing all sales in Russia and had already closed its stores in Ukraine due to the safety of customers and colleagues. “The situation is continuously monitored and evaluated. Representatives of the company are in dialogue with all relevant stakeholders,” added H&M Group. The fashion group also joined calls for peace and said that it would be donating clothes and other necessities to those in need. H&M Foundation has also made donations to Save the Children and to UNHCR (The UN Refugee Agency). Ganni freezes all trade with Russia Danish contemporary brand Ganni showed its support for Ukraine with a statement for peace on its social media while adding that it would be donating to help refugees and freezing all trade with Russia, with immediate effect. “At Ganni, we stand for peace,” said Ditte Reffstrup, creative director at Ganni. “As a company we are aligning with international sanctions and are freezing all trade with Russia. On behalf of both Ganni and our founders Ditte and Nicolaj Reffstrup we are donating 100.000 DKK to the Danish Refugee Council who are currently on the ground in Ukraine, supporting their efforts to save lives and provide emergency relief and protection for those affected by the conflict. We stand in solidarity with all our teams and communities across nationalities in this dark time.” Nanushka stands in solidarity with the citizens of Ukraine Hungarian brand Nanushka took to its social media to tell its fans that it was “pausing its business arrangements” with Russia, which it added was “an essential action” during the current situation. “This decision is not against our Russian clients, or friends, but a stand against the invasion of Ukraine,” added Nanushka. “Our action commits to cease delivery of orders placed and unfulfilled, and to temporarily take no further orders from our Russian partners.” The brand went on to explain further, saying: “Nanushka’s founder and creative director, Sandra Sandor, was born while Hungary was still under a Socialist political system. Sandor therefore has a close understanding of, and emotional connection to, today’s crisis. We have chosen to use our platform to draw further attention to the crisis and to provide support.” The fashion brand is also partnering with Hungarian charity Order of Malta, which is providing accommodation, food, clothing, and transport to and in Budapest for those seeking shelter as they leave Ukraine. It also added that it would be introducing a programme to support members of the fashion industry in Ukraine to maintain their businesses. LVMH and Kering make donations to humanitarian charities French luxury conglomerate LVMH Group has made an emergency contribution of 5 million euros to support the International Committee of the Red Cross (ICRC) to help the direct and indirect victims of the conflict in Ukraine. “The LVMH Group is closely monitoring the tragic situation in Ukraine and stands alongside all those severely affected by this war,” said the luxury conglomerate in a statement. “The Group’s first concern is the safety of its 150 employees in Ukraine and is providing them with essential financial and operational assistance.” LVMH also added that it would be “constantly tracking the situation” and will adapt its measures as needed. The luxury group also launched a fundraising campaign in support of the ICRC to facilitate the contributions of employees across the Group and its 76 Maisons. While Kering, which includes Saint Laurent, Bottega Veneta, and Gucci, shared the word Peace in the blue and yellow colours of Ukraine on its social media, along with a statement that it was contributing to humanitarian efforts to bring aid and support to Ukrainian refugees. Kering added that it would make a “significant donation” to the UNHCR, the United Nations Refugees Agency and added, “we hope for a peaceful resolution of this conflict”. In addition, Gucci also donated 500,000 US dollars to the UNHCR. Image: Pexels by Katie Godowski Asos suspends sales in Ukraine and Russia Online fashion retailer Asos has halted its operations in Ukraine and Russia stating that its priority is the safety of its colleagues and partners in the region. “Asos has suspended sales in Ukraine as it became impossible to serve customers there,” explained the e-tailer in a statement. “Against the backdrop of the continuing war, Asos has decided to suspend sales to Russia.” In FY21 Russia and Ukraine represented c.4 percent of Asos’ revenue and contributed approximately 20 million pounds to Group profit. Boohoo Group closes Russian websites Boohoo has suspended all sales to Russia and closed its Russian trading websites, due to Russia’s ongoing invasion of Ukraine. In a statement, Boohoo said I was “deeply concerned about the tragic developments in Ukraine,” and that following the invasion it decided to halt all trade with Russia. Sales made by the Boohoo Group into Russia total less than 0.1 percent of Group revenues. John Lewis, Kurt Geiger and Burberry support British Red Cross Ukraine Crisis Appeal John Lewis Partnership has donated 100,000 pounds to the British Red Cross Ukraine Crisis Appeal and will match donations from customers and employees, up to an additional 150,000 pounds to support the people of Ukraine. A statement from John Lewis Partnership chairman, Sharon White, on the brand’s website, said: "I am deeply distressed by the humanitarian crisis unfolding in Ukraine – innocent people losing their lives, their loved ones, their homes, and families being separated. "The John Lewis Partnership is making a first donation of 100,000 pounds to the British Red Cross directly in support of their Ukraine Crisis Appeal. This will help provide food, water, medicine, warm clothing and shelter to those whose lives have been torn apart by this invasion." While footwear retailer Kurt Geiger has donated 50,000 pounds, a week's store profits, to support the British Red Cross appeal to support Ukraine during this crisis. Kurt Geiger chief executive, Neil Clifford, said in a statement: “We have always been ardent advocates of empathy, compassion and spreading kindness to those who need it most. Currently, there are hundreds of thousands of Ukrainians in need of financial, practical and emotional support. This is a situation of human suffering, and we believe we have a moral obligation to reach out and help in any way we can. “In light of this human crisis, we will be donating 100 percent of last week's Kurt Geiger store profits to the sum of 50,000 pounds to the British Red Cross' Emergency Appeal which is currently working with the Ukrainian Red Cross Society and the International Committee of the Red Cross preparing to help those affected by the crisis." Burberry also put its weight behind the British Red Cross to help provide urgent aid, food, warm clothes, and shelter to communities in desperate need. The luxury brand said that it was donating to the cause and would also be matching any employee donations to charities supporting humanitarian efforts in Ukraine. “These are incredibly difficult times for many people and our thoughts are with all those impacted by the crisis,” added Burberry. Acne Studios places Russian activities on hold and makes donation Scandinavian fashion brand Acne Studios announced that it was placing all its Russian activities on hold, in a show of support and solidarity with the people of Ukraine. Acne, which presented its autumn/winter 2022 collection during Paris Fashion Week, also added that it was donating 100,000 euros to UNHCR and UNICEF to provide humanitarian help to those in need and to support relief work in Ukraine and its neighbouring countries. “We are following the developments carefully and are ready to further extend our support as the situation evolves,” added Acne Studios. “We encourage those who can to do the same.” OTB to support Ukraine through UNHCR Fashion conglomerate Only The Brave Foundation, which owns Diesel, Maison Margiela, Marni, Viktor & Rolf, Amiri and Jil Sander, said it was supporting UNHCR with an undisclosed sum to help people and families forced to leave Ukraine to neighbouring countries due to the invasion from Russia.
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Gap assembles advisory board to drive systemic change

Image: Gap Inc., CEO Sonia Syngal Multi-brand group Gap Inc. has brought together The Power of the Collective Council to build upon its efforts of pushing for systemic change and advocating for historically marginalised communities. As part of its 2025 commitment, Create For All, With All, the new council has been tasked with addressing three strategic pillars - Community, Customer and Employee - that each member will focus on individually, based on their own specialisation. Aurora James, founder of Fifteen Percent Pledge, an initiative that pushes for Black-owned brands in stores for which Gap is an advocacy partner for, will deepen her relationship with the retailer, supporting the Community pillar. For the Customer pillar, Leonardo Lawson will be joining the council as the creative impact advisor. Lawson has served as head of YZY Gap, Kanye West’s brand, since August 2021 and will bring expertise in luxury and fashion brand building. Additionally, joining as employee experience advisor, Amber Cabral, who has been at Gap since 2018, will aim to advance the company’s internal inclusion efforts. Through the council’s guidance, the retail group looks to further its Equality and Belonging (E&B) commitments. In a release, the vice president of E&B, Kisha Modica, said: “We have momentum built on a strong foundation, years in the making… but this year must be met with increased speed, efficiency and accountability. Their collective counsel will ignite and guide our teams to uphold our company’s purpose, which is to be Inclusive, by Design.”
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Abercrombie & Fitch Q4 net sales increase by 4 percent

Image: Abercrombie & Fitch For the fourth quarter ended January 29, 2022, Abercrombie & Fitch Co. reported net sales of 1.2 billion dollars, up 4 percent compared to last year and down 2 percent compared to pre-Covid, 2019 fourth quarter. Commenting on the results, Fran Horowitz, the company’s chief executive officer, said: “2021 is a testament to the fundamental changes we have made to strengthen our foundation and improve our profitability. We are pleased with our recent performance. Following inventory receipt delays that impacted the peak holiday selling period, sales trends initially improved as products began to arrive. While mid-January was impacted by the Omicron surge, sales rebounded in late January as cases fell and new assortments set. Momentum has continued quarter-to-date.” Highlights of Abercrombie & Fitch’s Q4 performance The company’s digital net sales were 556 million dollars or 48 percent of total net sales compared to 475 million dollars or 40 percent in the fourth quarter of 2019. Gross profit rate was 58.3 percent, down approximately 220 basis points compared to last year and up 10 basis points as compared to 2019. Operating income was 98 million dollars and 100 million dollars on a reported and adjusted non-GAAP basis, respectively, as compared to 116 million dollars and 131 million dollars last year, on a reported and adjusted non-GAAP basis, respectively. Net income per diluted share was 1.12 dollars and 1.14 dollars on a reported and adjusted non-GAAP basis, respectively, as compared to 1.27 dollars and 1.50 dollars on a reported and adjusted non-GAAP basis, respectively. Summary of Abercrombie & Fitch’s full year results Net sales were 3.7 billion dollars, up 19 percent compared to last year and 2 percent compared to pre-Covid 2019 full year net sales. Digital net sales were 1.7 billion dollars or 47 percent of total net sales compared to 1.2 billion dollars or 33 percent in fiscal 2019. Gross profit rate was 62.3 percent, up approximately 180 basis points as compared to last year and up 290 basis points as compared to 2019. Operating income was 343 million dollars and 355 million dollars on a reported and adjusted non-GAAP basis, respectively. This compares to operating loss of 20 million dollars and income of 52 million dollars on a reported and adjusted non-GAAP basis, respectively. Net income per diluted share was 4.20 dollars and 4.35 dollars on a reported and adjusted non-GAAP basis, respectively, as compared to net loss per diluted share last year of 1.82 dollars and 73 cents on a reported and adjusted non-GAAP basis, respectively. Abercrombie & Fitch expects FY22 net sales to be up 2 to 4 percent For fiscal 2022, the company expects net sales to be up 2 to 4 percent from 3.7 billion dollars in 2021 with the U.S. continuing to outperform EMEA and APAC driven by growth in both comparable sales and store count. The company expects gross profit rate to be down around 200 basis points as compared to the fiscal 2021 rate of 62.3 percent, with 300-400 basis points of cost inflation partially offset by higher average unit retail. For the first quarter of fiscal 2022, the company expects net sales to be up low-single-digits to fiscal first quarter 2021 level of 781 million dollars and gross profit rate to be down around 400 basis points to fiscal 2021 rate of 63.4 percent.
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66°North receives B Corp certification

Image: 66°North SS22 Outerwear brand 66°North has become the first Icelandic company to receive B Corp certification, reinforcing its “made for life” approach to fashion. “Earning a B Corp Certification with a score of 93.5 validates 66°North’s longtime commitment to doing business in a way that’s thoughtful and considerate of the planet,” said Helgi Rúnar Óskarsson, chief executive of 66°North in a statement. “We are proud to be the first Icelandic brand to receive this distinction and look forward to continuing to build a purpose-driven brand.” 66°North, originally founded as a matter of survival for Icelandic fishermen, has been creating multipurpose outerwear for nearly 100 years. The company has been carbon neutral since 2019 and creates products that combine durable materials that are traceable and certified to the highest standard, along with a design philosophy and manufacturing techniques that eliminate waste and ensure longevity. As part of its commitment to the planet and to reduce long-term consumption, 66°North also offers a repair service for everything the brand has sold over the past century. Nille Skalts, chief executive and founder of the Nordic B Corp Movement, added: “I am honoured to welcome to the B Corp movement 66°North as the very first Icelandic B Corp. It is an endeavour for any company to become a certified B Corp, but it is even more so when you become the first B Corp of your country. “Being a pioneer trailblazing the way for others to follow takes dedication and courage, as you’re treading a path that no one has tread before you. I could not think of a more fitting company than 66°North to lead the way for the B Corp movement in Iceland.” 66°North states that achieving B Corp Certification is only the beginning and that it is continually learning and improving its operations across all areas of its business. It adds that it is on track to reach a B Impact Score at its next assessment in three years, which would place the brand among the top three sustainable outerwear brands globally. Image: 66°North SS22 Image: 66°North SS22
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Italy's luxury sector and Belgium's diamond leaders brace for economic impact from Russian sanctions

Image: Diamonds via Pexels As EU leaders band together to decide on an applicable sanctions package for Russia invading Ukraine, it is becoming increasingly clear that the luxury sector will suffer some impact. Belgium’s diamond businesses and Italy’s luxury companies are two countries who have strong economic ties to Russia. While both support government sanctions, they must face the possibility of the impact on their own sectors to minimise any economic damage. “Sanctions can have a significant impact on the diamond business,” said Tom Neys, spokesperson for the Antwerp World Diamond Centre (AWDC), reported Gazet van Antwerpen on Wednesday (prior to Thursdays attack). “It is a blow that should hurt Russia but there is a chance that we do more damage to ourselves. The Russians can easily trade their diamonds with non-EU countries.” The Brussels Times reported more than 1 billion euros of Russian diamonds passed through the Belgian port in 2020. A recently signed agreement between Antwerp World Diamond Centre and Russia’s ALROSA would see 86 percent of its rough diamonds pass through Belgium, the AWDC stated. In Italy, Carlo Capasa, president of the Italian National Fashion Chamber, said more than 1 billion euros worth of luxury exports to Russia could be at risk, even as Russian buyers return to Milan for the first time since the pandemic thanks to a deal brokered with the government to recognise the Sputnik V vaccine for business travellers, reported Euronews. "It is high risk, of course, but what is worrying us is the risk of the war,” said Capasa. “The centre of our worry is the death of so many people, the life of the people, the health of the people. We are coming out of two years of pandemic and we don't need a war so we wish that we find another solution." 17.32 - This article has been updated to reflect that Tom Neys' statement in the Gazet of Antwerpen preceded Thursdays attack. Article source: The Brussels Times, Antwerp Gazette, Euronews
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Asos Marketplace launches collaboration with Collusion

In Pictures Image: Asos Marketplace x Collusion - Dream But Do Not Sleep / Groovy Gal Asos Marketplace, the online platform for vintage sellers and independent boutiques, has launched its first-ever brand collaboration with Asos’ in-house label, Collusion. The collaborative collection features three Asos Marketplace boutiques, Dream But Do Not Sleep, The Marcon Court Project, and Groovy Gal, who have reworked Collusion samples donated by Asos into one-off pieces. The capsule collection features 60 products for women and men that reflect the “unique style” of each boutique including painted denim jackets from Groovy Gal and spliced outerwear from The Marcon Court Project. Each boutique will receive 100 percent of the profits from sales, added Asos Marketplace. Image: Asos Marketplace x Collusion - The Marcon Court Project As part of the collaboration, each boutique will receive support from the Collusion team on marketing strategies to help promote the range, including partnering with influencers and content creators to showcase them to a global market. Jo Hunt, head of Asos Marketplace, said in a statement: “Our much-loved Asos Marketplace boutiques are the perfect partners to help reimagine these products into fresh, unique new pieces that will resonate with our customers. “The focus of Asos Marketplace has always been to champion and support talent across the fashion industry, and this new collection perfectly showcases the talent and creativity of the boutiques on our platform.” Collette Olumide, owner of Groovy Gal, added: “Working with bright and graphic pieces while incorporating my original print designs has been my focus for this collection. The Collusion collaboration gave me a chance to experiment and learn new skills, such as printing onto fabric. When I started Groovy Gal, I didn’t even know how to sew or design fabrics, so this project is a real milestone for us – I can’t wait to see what’s next.”
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Victoria’s Secret to make seven million dollar investment in women-led businesses

Image: Victoria's Secret x For Love and Lemons Lingerie retailer Victoria’s Secret has announced its intention to invest seven million dollars into women-owned businesses through a partnership with venture capital firm, Amplifyher Ventures. The goal of the investment is to provide female entrepreneurs with access to capital and growth opportunities, as well as potentially closing the gender investment funding gap to ensure “women are represented in companies from the ground up”. The news comes as part of the brand’s ongoing reformation, as it directs its vision towards becoming a “leading advocate for women”. In a release, the retailer’s CEO, Martin Waters, said: “As a company whose associate base is nearly 90 percent women, ensuring that women are represented and supported in their careers is extremely important to us.” Waters added: “With Amplifyher, we are championing women entrepreneurs who are already leading the way and also supporting them in paving the way for the next generation of women founders.” Victoria’s Secret has continued to exhibit this women-led mission through the building of strategic partnerships via its own platform. Women-founded intimates and lifestyle brands, such as Love and Lemons and Mindd, are among those available through the retailer, with it ultimately hoping to develop a “curated women powered ecosystem” that supports entrepreneurs.
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Milan FW22: the top five trends store buyers need to know

Image: Courtesy Fendi FW22 Those watching the Milan fw22 collections entered a parallel universe on the third day of the shows when Russia invaded its neighbor Ukraine. Certainly it begs the question, is it frivolous to watch fashion shows at the very moment one country declares war on another? Perhaps it could be conceived in that way, but the show must go on, especially after two years of mostly digital presentations. The trickle down effect from the major and indeed, some of the minor, fashion weeks is immense, providing work for thousands and thousands of people and creating revenues larger than the GDP of many small countries. In any case, fashion trends reflect the cultural zeitgeist so if you want to know what's happening in the world you could do worse than watching the current shows. Masculine/Feminine Image: Courtesy Prada FW22 For several years now, the main cultural conversation has centered upon gender fluidity. The fashion world has answered the call, with fashion brands all over the world using non-binary and transgendered models, showing skirts and dresses for men and designing broad-shouldered tailored suits for women. More and more often men's and women's wear are shown simultaneously. Several Italian designers including Fendi, Versace, Blumarine and Dolce & Gabbana went a step further showing looks that combined both masculine and feminine details in a single outfit. Nowhere was this more evident than at Prada; a singlet or a wool blazer decorated with a ring of feathers around the upper arm worn over layers including a crystal embellished sheer midi-length skirt. Image: Blumarine FW22 Gothic Glamour figure> Image: Courtesy Andreadamo FW22 As seen throughout the pre-fall and fw22 seasons, designers including Elisabetta Franchi, Andreadamo and Dolce & Gabbana showed skin baring looks in head-to-toe black. At Roberto Cavalli, Fausto Puglisi showed fetishistic "cage" tops and dresses with cutouts and metal rings. Fendi showed sheer black dresses that revealed black lingerie beneath. At Versace there were latex leggings under a corseted mini dress and Julia Fox in the front row with a latex-wrapped ponytail! Image: Courtesy Roberto Cavalli FW22 Puffed Up Image: Courtesy Maxmara FW22 The puffy nylon sporty trendsees no signs of abating and Milan was no exception. At Anteprima, that meant puffy nylon ochre colored outerwear and scarves. At Max Mara, quilted burnt orange nylon pants had zips on the sides and were teamed with second skin cashmere sweater and matching balaclava and a pair of ochre colored nylon pants were shown with a ribbed mockturtle neck sweater. Canasa and Daniela Gregis both showed nylon bomber jackets. Image: Courtesy Anteprima FW22 Tartan and Plaid Image: Courtesy Gucci FW22 Following on from the pre-fall collections, Milan designers showed many outfits rendered in tartan and plaid fabrics. Some used it in an anarchic way, perhaps a nod to the kilted Scottish warriors who fought the English, or more recently Vivienne Westward's punk movement of the late '70s. Case in point, Francesco Risso showed an earth-toned tartan skirt with a shredded satin pink top and overlong red and black pants. At AC9, oversized pleated plaid pants were shown with a long line bra and long fingerless organza gloves. Gucci collaborated with Adidas this season and the result was a collection that included many show stopping looks. In one, a yellow and brown tartan skirt was shown over classic blue Adidas track pants and teamed with a tailored look on top. At Roberto Cavalli, Fausto Puglisi showed a layered mini kilt over an all-in-one printed with roses and thorns. Image: Courtesy Marni FW22 Winter Pastels Image: Courtesy Jil Sander FW22 With each passing year, there is a growing desire for clothing in trans-seasonal colors. Winter white has been trending for many seasons now and this coming fall will be joined by various pastel shades more traditionally associated with spring. At Fendi, icy pink, green and lavender, work back to pearl grey and a pop of red. At Jil Sander, Easter egg colors of pale yellow, lavender and peach were worked into a palette of earth tones and monochromes. Marco Ramhaldi's sporty collection of mostly knit pieces was rendered in pastels. At MM6 Maison Margiela, John Galliano showed a group of looks in pale colors including a peachy toned parka. Image: Courtesy MM6 Maison Margiela
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