Harry Kane fronts Skechers first football boots

The first Skechers Football boot, the SKX_01 worn by global superstar striker Harry Kane Credits: Skechers England’s national football team captain, Harry Kane, who recently moved to FC Bayern Munich from Tottenham Hotspur, has signed a long-term partnership with football brand Skechers to front its first football boots launching in the UK and Europe in September. In a statement, Skechers said that the deal marks a “lifetime” commitment from Kane, who will wear the new Skechers Football boots SKX_01 on the pitch and appear in a multiplatform marketing campaign as its brand ambassador. Commenting on the deal and wearing the football boots, Kane said: “It’s definitely a time of transition in my career and I’m thrilled to announce my signing with Skechers just as I’m making a big move. Ever since meeting the design team and seeing the boots for the first time, I felt confident that Skechers was onto something special. “I’ve been wearing the boots for weeks, scoring in them in preseason. They’re unlike anything I’ve experienced before. Own it, own who you are. Own what you want to achieve. And that’s what I feel like I’ve done throughout my whole career. They’re the main messages I think my partnership with Skechers sends to people in general all around the world. I wouldn’t back a brand or gear if I didn’t 100 percent believe in it. This is the real deal.” The first Skechers Football boot, the SKX_01 worn by global superstar striker Harry Kane Credits: Skechers The Skechers Football boots SKX_01 are designed to offer players “360-degree touch and control on the ball,” explains the footwear brand, featuring its Hyper Burst Pro lightweight and cushioning technology with a lace-up Performance FitKnit engineered upper, as well as P.S.C. moulding detail for precise ball control and multi-directional traction outsole. Michael Greenberg, president at Skechers, added: “We’ve been developing Skechers Football boots for some time and as we perfected the design, we enlisted players to test them and offer feedback—including one of the best on the pitch, the great Harry Kane. “Harry had the entire football world following his every move over the last few weeks and his determination, skill, and leadership align perfectly with our plans for the sport. He already feels like part of the Skechers family. This first boot is just the beginning with more innovative Skechers Football boots featuring our signature comfort and performance technologies on the way.” Skechers Football boots will be available directly from the footwear brand’s website and at select Skechers retail stores and select speciality football retailers in the UK and across Europe from September 8 for 195 pounds.
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Express maintains Q2 sales and EPS outlook

Credits: Image: Express Inc via Business Wire Fashion apparel retailer Express, Inc. expects to report net sales in the range of its previously-announced outlook of 400 million dollars to 450 million dollars, and diluted loss per share of 50 cents to 60 cents. “Net sales for the Express brand improved sequentially throughout the second quarter driven by the corrective actions we have taken to address imbalances in our women’s assortment architecture. These results give us confidence that we will continue to see improvement in net sales for the Express brand in the back half of the year,” said Tim Baxter, the company’s chief executive officer. “Today we are announcing a goal to deliver 150 million dollars in annualised expense reductions by 2025 versus 2022 and have already identified and implemented 80 million dollars for 2023 and 120 million dollars for 2024. In addition, we are also aggressively pursuing at least 50 million dollars in gross margin expansion opportunities by leveraging efficiencies in sourcing, production and the supply chain,” Baxter added.
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UK has over one million fake watches in circulation, says report

Rolex Credits: Pexels Recent research conducted by Watchfinder & Co., a luxury pre-owned watch specialist, has shed light on the prevalence of counterfeit goods in the market. The study revealed 14 of Britons have fallen victim to counterfeit products. Specifically, the research identified a staggering 1,010,572 fake watches circulating within the UK market alone. This issue extends globally, with an estimated 40 million counterfeit watches being sold worldwide annually, resulting in profits exceeding 1 billion dollars. Notably, among luxury watches, Rolex imitations constituted at least half of the fakes identified by Watchfinder & Co. over the past year. 40 million counterfeit watches sold every year In response to this challenge, Watchfinder & Co. has taken proactive measures to raise awareness among customers about the escalating influx of counterfeit watches. The company is also urging pre-owned traders, retailers, and marketplaces to be transparent about their authentication policies, processes, and credentials. This move aims to guide consumers toward trustworthy shopping environments. Counterfeit watches have experienced a notable increase in sales, accounting for more than 35 percent of counterfeit transactions. The sophistication of replicas has grown due to advancements in technology, such as 3D printers and CNC machines, enabling scammers to create convincing imitations. The cumulative knowledge accumulated by fake manufacturers over time has also contributed to the rising aesthetic accuracy of these counterfeits. Remarkably, Watchfinder & Co.'s experts have observed a shift in the detectability of fakes. Approximately five years ago, 80 percent of counterfeit watches were easily recognisable as such, while only 20 percent demanded closer scrutiny. Today, this pattern has reversed, with 80 percent of fakes necessitating closer inspection and only 20 percent being glaringly obvious forgeries. Nevertheless, even with the increasing resemblance of counterfeit watches to authentic ones, genuine timepieces still stand out due to their superior technology and functionality. The study unveiled that 16 percent of counterfeit watches malfunctioned after minimal usage, underscoring the inferior quality of these imitations. Arjen van de Vall, CEO of Watchfinder & Co., says the purchase of a luxury watch carries significant emotional and financial weight. Consequently, discovering that a purchased watch is fake can be devastating. The prevalence of counterfeit goods not only deceives consumers but also casts a shadow on the pre-owned market. The study found that 68 percent of individuals who fell victim to counterfeit products expressed reluctance to purchase pre-owned items again. In light of these findings, Watchfinder & Co. is advocating for transparency within the pre-owned watch industry. The company's rigorous 60-step inspection and authentication process, along with their dedicated team of authenticators and watchmakers, serves as an example of their commitment to ensuring that every timepiece they handle is genuine. This effort is aimed at instilling confidence in consumers and preserving the integrity of the pre-owned market.
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Ross Stores ups FY guidance as Q2 sales, profits rise

Ross Stores storefront Credits: Ross Stores US retailer Ross Stores has upped its full-year sales and earnings outlook after a better-than-expected Q2 performance. The discount department store chain reported a 7.7 percent increase in sales to 4.9 billion dollars in the three months ended July 29. Comparable store sales were up 5 percent, compared to a drop of 7 percent in the prior-year period. It had expected same-store sales to be relatively flat in the second quarter. The retail group made a Q2 net profit of 446 million dollars, up from 385 million dollars the prior year. Ross Stores ups guidance “We are pleased with our second quarter results, with both sales and earnings well above our expectations,” said CEO Barbara Rentler in a statement. “Along with easing inflationary pressures, customers responded well to our improved value offerings throughout our stores,” she said. The company’s second quarter operating margin remained flat at 11.3 percent. “Despite the recent moderation in inflation, our low-to-moderate income customer continues to face persistently higher costs on necessities,” Rentler said. Accordingly, the company has raised its full-year sales and profit outlook. It now expects same store sales for the year ending January 27, 2024 to be 2 percent to 3 percent higher than the prior year. It had previously expected sales to be relatively flat. The retailer now expects FY23 earnings per share (EPS) in the range of 5.15 dollars and 5.26 dollars versus 4.38 dollars last year. It previously expected FY23 EPS to be in the range of 4.77 dollars and 4.99 dollars.
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Item of the week: the print shirt

(From left) Desigual, Scotch & Soda and Selected Homme. Credits: FashionUnited Marketplace. What it is: Print shirts are a regular part of fashion week collections, however each season they are defined by current trends and the desires of consumers. For SS24 menswear, for example, the most common iteration was bold, graphic prints in a myriad of colours, mostly seen on loose-fitting shapes that bore resemblance to 80s cuts. In place of the typically popular florals, prints this season were more angular and solid in design, many appearing in primary hues that contrasted the other tones in an outfit. Superdry. Credits: FashionUnited Marketplace. Why you’ll want it: Graphic printed shirts are a fun addition to a collection, providing men with a colourful alternative to standard button-downs and tees. Such styles are particularly popular around festival season, where print shirts have become somewhat of a fashion staple among attendees who use such events to dress up and expand beyond their comfort zone. Not only that, but the oversized fit sometimes used for these pieces, has further enabled the shirt to become genderless in some ways. Women are able to also get in on the trend by sporting the menswear pieces, giving the print shirt an even wider appeal. Garcia. Credits: FashionUnited Marketplace. Where we’ve seen it: While there were a variety of different ways to explore the print shirt trend for SS24, stark, angular shapes defined the print styles this season. Belgian designer Walter Van Beirendonck, who is known for his eye-catching creations, led the way here, offering up yellow, red or black shirts that came complete with distinct graphics and were layered against contrasting prints. To create its own prints, Sacai embroidered blocked-out shapes onto its shirts, while Koché used handwriting to form distinctive designs. Feng Chen Wang and Marine Serre, on the other hand, stuck to florals; the latter utilising a patchwork effect, the former adopting the print in a more traditional sense. Komodo. Credits: FashionUnited Marketplace. How to style it: Print shirts can provide playful styling opportunities for wearers, encouraging them to break out of fashion boundaries. It can sometimes be possible to find a shirt that comes with matching shorts, providing an effortless and easy fashion-forward outfit for those that may be a little more daring in their approach. If this is not for you, tone the piece down with tailored trousers or denim shorts, each of which can be paired with sneakers or smart shoes, depending on the occasion. Layer the piece with a tank top or t-shirt underneath, letting the shirt hang open to provide depth to the look. Weird Fish. Credits: FashionUnited Marketplace. The print shirt is a fun, all-year-round wardrobe staple, which can be relevant just as much in the colder months as it can in summer. Styling options enable this ability, giving menswear a playful collection addition that appeals to a broad consumer base. PME Legend. 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.
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The Children’s Place cuts full year outlook

Credits: Image: The Children's Place The Children’s Place, Inc. reported a decrease in net sales of 35.3 million dollars or 9.3 percent to 345.6 million dollars in the second quarter. The company attributed the decline to the impact of a slowdown in consumer demand resulting from the unprecedented inflation impacting customers, an increase in promotional activity across the sector, and the impact of permanent store closures. Comparable retail sales decreased 9 percent for the quarter. The company is narrowing its previously provided guidance for the full year and now expects net sales to be in the range of 1.575 billion dollars to 1.585 billion dollars, adjusted operating profit to be in the range of 2.7 percent to 3 percent of net sales and net income per diluted share to be in the range of 1 dollar to 1.25 dollars. Commenting on the financial results, Jane Elfers, the company’s president and CEO said: “Our Q2 results exceeded our guidance on both the top- and bottom-lines. The top-line beat was the result of a strong digital performance fueled by a strong start to back-to-school. In addition, our wholesale channel delivered another outstanding quarter driven by the strength of our Amazon partnership.” Review of The Children’s Place Q2 results The company’s gross profit decreased 27.7 million dollars to 87.8 million dollars and adjusted gross profit decreased 27 million dollars to 87.8 million dollars. Adjusted gross margin declined 480 basis points to 25.4 percent of net sales. Operating loss was 36.9 million dollars and adjusted operating loss was 25 million dollars, while adjusted operating loss declined 410 basis points to negative 7.2 percent of net sales. Net loss was 35.4 million dollars or 2.82 dollars per diluted share, while adjusted net loss was 26.5 million dollars or 2.12 dollars. The Children’s Place posts 10.2 percent decline in H1 Net sales decreased 76 million dollars or 10.2 percent to 667.2 million dollars in the six months period. Comparable retail sales decreased 8.6 percent. Gross profit for the quarter decreased 73.2 million dollars to 184.2 million dollars, while adjusted gross profit decreased 72.5 million dollars to 184.2 million dollars. Adjusted gross margin dropped 690 basis points to 27.6 percent of net sales. Operating loss was 67 million dollars and adjusted operating loss was 49.5 million dollars compared to the first half of 2022. Year-to-date adjusted operating loss declined 860 basis points to negative 7.4 percent of net sales. Net loss was 64.2 million dollars or 5.16 dollars per diluted share, in the six months ended July 29, 2023 and adjusted net loss was 51.2 million dollars or 4.12 dollars per diluted share. The company permanently closed three stores during the second quarter and has permanently closed 603 stores since 2013. The company is planning to close a total of approximately 80 - 100 stores this year. The Children’s Place cuts outlook For the back half of 2023, the company continues to expect to deliver double-digit operating margin. Net sales for the combined 3rd and 4th quarters are expected to be in the range of 910 million dollars to 920 million dollars, representing a decrease in the mid-single digit percentage range as compared to the prior fiscal year. Adjusted operating income for the six-month period is expected to be approximately 10 percent of net sales and adjusted net income per diluted share is estimated to be in the range of 5 dollars to 5.25 dollars. For the third quarter of 2023, the company expects net sales in the range of 470 million dollars to 475 million dollars, representing an approximately 7 percent decrease as compared to the prior year third quarter. Adjusted operating profit for the quarter is expected to be approximately 13.5 percent of net sales and adjusted net income per diluted share is estimated to be in the range of 3.55 dollars to 3.65 dollars based upon an anticipated weighted average number of shares of 12.7 million.
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Farfetch posts decline in Q2 revenue

Credits: Image: Courtesy of Farfetch Farfetch Limited’s GMV increased 1.2 percent in the second quarter to 1,032.6 million dollars, while revenue decreased 7.3 million dollars to 572.1 million dollars, down 1.3 percent. The company said in a statement, this decrease was primarily driven by a 42.2 percent decrease in brand platform revenue to 67.4 million dollars, as well as a 15.1 percent decrease in in-store revenue to 22.7 million dollars. These decreases, the company added, were partially offset by an increase in digital platform revenue of 10.5 percent to 482 million dollars. Commenting on the second quarter trading, José Neves, Farfetch founder, chairman and CEO, said: “Our Q2 results show Farfetch is growing, becoming more efficient, and executing on our key strategic priorities. We have also taken decisive action to adapt to the macro environment of the last 18 months. 2023 is set up to be a great year for Farfetch, toward strong GMV growth, adjusted EBITDA profitability and positive free cash flow.” Farfetch expectations for the full year For the full year, Farfetch expects group GMV of approximately 4.4 billion dollars, up from 4.1 billion dollars in 2022, digital platform GMV of approximately 3.85 billion dollars, up from 3.5 billion dollars in 2022, and brand platform GMV of approximately 0.45 billion dollars, broadly flat compared to 2022. The company forecasts revenue of approximately 2.5 billion dollars, up from 2.3 billion dollars in 2022. Digital platform order contribution margin is expected to range between 33 percent to 35 percent, up from 32 percent in 2022, and positive adjusted EBITDA margin up to 1 percent, improving from negative 5 percent in 2022. Highlights of Farfetch’s Q2 results The company’s digital platform GMV increased 61.2 dollars million to 944.3 million dollars, representing a year-over-year increase of 6.9 percent, brand platform GMV decreased 40.8 percent to 63.4 million dollars, and in-store GMV decreased 17.5 percent to 24.9 million dollars in the second quarter. Digital platform services revenue increased 9.9 percent, reflecting a 14.6 percent increase in first-party revenue and a 6.3 percent increase in third-party revenue. Digital platform fulfilment revenue increased 13.5 percent, due to an increase in duties and a decrease in Farfetch-funded promotions. Brand platform revenue decreased 42.2 percent. Gross profit decreased 24.8 million dollars or 9.3 percent, while gross profit margin decreased 370 bps to 42.5 percent and digital platform gross profit margin decreased 340 bps to 49.3 percent. Loss after tax decreased 349 million dollars to a 281.3 million dollars loss in second quarter 2023, while basic and diluted EPS was negative 68 cents. Adjusted EBITDA decreased 6.3 million dollars to a loss of 30.6 million dollars, a 26.2 percent decline compared to second quarter 2022. Adjusted EBITDA Margin decreased by 150 bps to negative 6.4 percent.
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Tracing a Trend: ‘Historical Romance’

Credits: Molly Goddard fw19/Launchmetrics Spotlight An Antidote to ‘Quiet Luxury’ It’s not exactly new, but you might want to call the ‘Historical Romance’ trend, the current antidote to ‘Quiet Luxury.’ Chiffon, tulle, voile and lace are used in big frothy volumes that emulate the crinolines of the Victorian Age. Maybe we think of them as being in black, but It is interesting to note that before the death of Queen Victoria’s beloved husband, Prince Albert, society ladies wore dresses in bright colors! Comme des Garçons ss20 look 1 Credits: Comme des Garçons ss20/Launchmetrics Spotlight Rei Kawakubo: a pioneer of the ‘Historical Romance’ trend It’s a look that has been around since the 1980s when Japanese designers such as Rei Kawakubo of Comme des Garçons championed the style, which the brand promotes to this day. Lynn Yaeger Credits: Lynn Yaeger/Launchmetrics Spotlight The editor and curator, Lynn Yaeger, is renowned as being a longtime proponent of the historical romance style. The London scene In recent years, young British designers including Emma Chopova, Laura Lowena and Simone Rocha appear to have been inspired by gothic Victorian novels like Jane Eyre and Wuthering Heights as well as venerated British houses Vivienne Westwood and Alexander McQueen. In addition to the expected black, they show voluminous confections in a variety of colors, including pink, yellow and green. When Killing Eve’s Villanelle stomped around in a voluptuous pink dress, everyone wanted to know more about its designer, Molly Goddard. She has since become one of the big names on the London Fashion Week calendar. The London fashion week schedule for ss24 has been announced and several designers known for their takes on ‘historical romance’ will be showing. Bora Aksu The Turkish designer will show his collection for ss24 during LFW on Friday 15 September 2023. Fw23: look 20 Credits: Bora Aksu fw23/Launchmetrics Spotlight A long pink satin dress with balloon sleeves and a square neck with a black voile and lace overlay. Street style Credits: Bora Aksu street style/Launchmetrics Spotlight As seen on the street in 2022 from the fw21 collection, a pale pink layered dress with ivory ruffled and floral trim. Molly Godard Molly Goddard will show her ss24 collection during LFW on Saturday 16 September 2023. Fw19 look 61 Molly Goddard fw19 look 61 Credits: Molly Goddard fw19/Launchmetrics Spotlight A bright pink dress with a heavily embellished top and a multi-layered skirt over black pants. SS23 look 11 Molly Goddard ss23 look 11 Credits: Molly Goddard ss23/Launchmetrics Spotlight A red and ivory Toile de Jouy long dress with a ruffled trim under a chiffon layer with polka dots in red. Roksanda Roksanda Ilinčić will show her collection for ss24 during LFW on Saturday 16 September. Street Style Show attendee in Roksanda Credits: Roksanda street style/Launchmetrics Spotlight A bright yellow vee neck cotton dress with billowing sleeves. Simone Rocha Simone Rocha will show her collection for ss24 during LFW on Sunday 17 September SS22 look 47 Simone Rocha ss22 look 47 Credits: Simone Rocha ss22/Launchmetrics Spotlight A long dress in a blurred floral print with ruffles over a pink embellished petticoat and a white ruffled petticoat. Fw23 look 49 Simone Rocha ss22 look 47 Credits: Simone Rocha ss22/Launchmetrics Spotlight A long transparent chiffon dress with balloon sleeves, embellished with crystals and pearls over an underlay and balled-up straw. Erdem Erdem Moralioglu will show his collection for ss24 during LFW on Sunday 17 September. Ss23 look 40 Erdem ss23 look 40 Credits: Erdem ss23/Launchmetrics Spotlight An embroidered velvet jacket under a chiffon layer over a wide net black tulle skirt with a multi-layered underskirt Chopova Lowena Emma Chopova and Laura Lowena will show their collection for ss24 during LFW on Friday 15 September. Street Style Chopova Lowena ss23 street style Credits: Chopova Lowena ss23/Launchmetrics Spotlight In 2022, Christine Bateman was seen wearing a white and red Chopova Lowena flocked dress with a pointed collar from ss21. Ss23 look 25 Chopova Lowena ss23 look 25 Credits: Chopova Lowena ss23/Launchmetrics Spotlight A long, white ruffled dress with a red print, a scoop-neck and short puffy sleeves, and a ruffled crossbody add-on with a contrast dark red print.
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10th edition of Ermenegildo Zegna Founder's Scholarship kicks off

Zegna SS24 collection. Credits: Courtesy of Ermenegildo Zegna Launched in 2014, the Ermenegildo Zegna Founder's scholarship project is now in its tenth edition. The sponsorship will continue for a further 15 years of the project's total 25 years since its inception. The programme, with an annual contribution of up to 1 million euros, allows selected students from over 20 Italian universities and schools of excellence to gain experience at prestigious international institutes, fuelling a virtuous circle of skills and competences, which upon the young creatives' return to Italy are expected to benefit the development of the country. Over the 10 years of the project 425 scholarships have been awarded and for the 2023-24 edition the 71 students selected will travel to institutes such as Harvard, Columbia and UCLA in the USA; Oxford, Cambridge and the London School of Economics in the UK; the College of Europe in Belgium; the Max Planck Institute in Germany and Eth in Switzerland; Adelaide University in Australia and Keio University in Japan. The deadlines for participating in this edition vary depending on the university the candidate chooses. "The Ermenegildo Zegna Foundation collaborates in creating a better future for the next generations. Inspired by the ethos of giving back to one's community that has guided the founder since 1910, the third generation of the family created the foundation in 2000 to give continuity to the philanthropic legacy it inherited," the note read. This article was originally published on FashionUnited.IT. Translation and editing from Italian into English by Veerle Versteeg.
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Coach parent Tapestry posts increase in Q4 profit, sales remain flat

Coach Play Chicago store Credits: Coach Coach owner Tapestry has reported widening profit in the fourth quarter despite its sales remaining flat. The group, which last week announced plans to acquire rival US fashion giant Capri Holdings, made a net profit of 224 million dollars in the three months ended July 1, up from 189 million dollars a year earlier. Sales in the fourth quarter remained flat at 1.62 billion dollars, with a 3 percent increase at its star label Coach to 1.25 billion dollars offset by a 10 percent fall at Kate Spade to 309.5 million dollars, and a 13 percent drop at Stuart Weitzman to 62.6 million dollars. For the full year, sales at Tapestry fell slightly to 6.66 billion dollars compared to 6.68 billion dollars the prior year. It had previously expected sales to hit 6.7 billion dollars. Net profit for the year widened to 936 million dollars from 856 million dollars, while earnings per diluted share (EPS) increased to 3.88 dollars from 3.17 dollars the prior year. It had expected EPS of between 3.85 dollars and 3.90 dollars. “We achieved record EPS this fiscal year, reinforcing the power of brand building, consumer-centric strategies, and disciplined execution,” Tapestry CEO Joanne Crevoiserat said in a statement. Full-year outlook Looking ahead, the group expects FY24 revenue to increase by approximately 3 percent to 4 percent to 6.9 billion dollars. It forecasts earnings per diluted share of between 4.10 dollars and 4.15 dollars, which would represent growth of between 6 percent and 7 percent. The financial update comes after Tapestry announced last week it would be forming a new US luxury powerhouse by acquiring rival group Capri Holdings in a deal worth approximately 8.5 billion dollars. That same day, Capri, the parent of luxury labels Michael Kors, Versace, and Jimmy Choo, reported a 9.6 percent drop in first-quarter revenue to 1.23 billion dollars. Capri’s net profit in the quarter narrowed to 48 million dollars from 201 million dollars the prior year, while adjusted net income fell to 88 million dollars from 215 million dollars. John D. Idol, the chair and CEO of Capri Holdings, said at the time that the merger “marks a major milestone” for the business. “We are confident this combination will deliver immediate value to our shareholders,” he said. “It will also provide new opportunities for our dedicated employees around the world as Capri becomes part of a larger and more diversified company.” Idol said the deal will provide Capri Holdings with “greater resources and capabilities to accelerate the expansion of our global reach while preserving the unique DNA of our brands”.
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The MET’s Costume Institute to house exhibition celebrating women designers

Gabriela Hearst at the end of the Chloé autumn-winter show Credits: Spotlight Launchmetrics The Metropolitan Museum of Art (The MET) has revealed details of its upcoming ‘Women Dressing Women’ exhibition, set to take place at The Costume Institute from December 7, 2023, to March 3, 2024. Comprising around 80 objects by over 70 makers, the exhibition looks to celebrate the creativity and legacy of women designers, while also tracing a lineage of women-led fashion houses from the 20th century to the present. Among pieces included are works by the likes of Rei Kawakubo for Comme des Garçons, Gabriela Hearst, Claire McCardell, Miuccia Prada and Vivienne Westwood. The exhibition will walk through four key notions – anonymity, visibility, agency, and absence/omission – and examine the ways the industry has served as a vehicle for women’s social, financial and creative autonomy. In a release, Andrew Bolton, Wendy Yu curator in charge of the institute, said: “Women have been instrumental to the success of The Costume Institute since its inception—its founding members include several inspiring women—and the department remains dedicated to recognizing the artistic, technical, and social achievements of women. “We look forward to this opportunity to honour many of the designers, donors, and scholars who have contributed to shaping The Costume Institute and, more broadly, the history of fashion.”
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Revolutionising cotton production: Australia's climate-positive initiative

Cotton farm Credits: Supima Cotton, a staple of global textiles and the fashion industry, bears a significant carbon footprint, emitting 2-4 tons of CO2 per hectare during production. However, a pioneering venture in Australia is poised to offer a climate-positive solution to cotton cultivation, potentially transforming the landscape for international farmers and supply chains. In a strategic partnership between Hiringa Energy, a trailblazing green hydrogen enterprise, and the Sundown Pastoral Co., an agricultural and pastoral enterprise and certified B. Corp, the Australian state of New South Wales (NSW) has allocated nearly 36 million dollars in funding. The partnership involves the establishment and operation of a groundbreaking renewable ammonia and green hydrogen production facility, situated on a cotton farm within NSW. Integral to this initiative is the innovative process of generating green hydrogen through electrolysis, where renewable electricity is harnessed to split water into oxygen and hydrogen. This emission-free methodology marks a paradigm shift in sustainable energy production. An added advantage emerges in the form of low-carbon ammonia, a by-product of the process, which holds potential as a crop fertilizer. Climate-positive cotton The farm, which will be underpinned by a 27-megawatt solar farm, is projected to generate approximately 45,000 MWh of energy annually, as reported by Australia's ABC Rural news. The implications of this venture are profound: the produced hydrogen could supplant over 1.4 million liters of imported diesel fuel, thus yielding a direct offset of more than 17,000 tonnes of CO2 emissions. This initiative not only underscores Australia's commitment to fostering climate-friendly innovations but also paves the way for a new era of sustainable cotton production worldwide.
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Côte&Ciel open first Paris flagship

New Paris flagship store Credits: Côte&Ciel Côte&Ciel, the avant-garde accessories label best known for its architectually designed bags, is embracing its Parisian origins with its first store in Le Marais, the same locale where the brand was founded almost 15 years ago. In a press release the brand said the new store is a deliberate shift away from the digital realm to provide customers with an immersive and intimate encounter with its offerings. DTC brands have been facing new challenges in 2023, and many are exploring options for physical spaces to better understand their audiences and drive traffic. Founded in Paris back in 2008, Côte&Ciel emerged as a conduit for pioneering design perspectives, responding to the aspirations of progressive creatives across the globe. Characterized by its commitment to travel-inspired and conceptually driven products, the brand resonates with those seeking innovation and ingenuity. For the store's interior, the brand turns to Berlin-based studio Balzer Balzer, who also designed its Tokyo location in Roppongi Hills. The intention is to seamlessly translate the brand's external narrative into an architectural design language that exudes minimalism and functionality. Nestled in Paris' vibrant 3rd arrondissement, the store is situated on Rude du Pont aux Choux, the heart of Le Haut Marais. The locale appears to be a conscious nod to the brand's name, "Coast and Sky" in French, manifesting as a dynamic visual interplay between bright sandy hues and dark anthracite accents. This colour scheme provides a universal backdrop, allowing the products to command center stage. Paris flagship Credits: Côte&Ciel
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TJX posts Q2 sales and profit growth, raises outlook

Credits: Image: TK Maxx The TJX Companies, Inc. net sales for the second quarter were 12.8 billion dollars, an increase of 8 percent versus the same quarter of fiscal 2023. The company’s comp store sales increased 6 percent. For the first six months, the company’s net sales were 24.5 billion dollars, an increase of 6 percent, while comp store sales increased 4 percent. Commenting on the trading update, Ernie Herrman, chief executive officer and president of The TJX Companies, Inc., stated: “I am extremely pleased with our second quarter performance. Our comparable store sales increase of 6 percent, pretax profit margin, and earnings per share all significantly exceeded our plans. It was terrific to see Marmaxx, our largest division, drive an 8 percent comp sales increase.” TJX posts increase in net income Net income for the quarter was 1 billion dollars and diluted earnings per share were 85 cents, up 23 percent. Net income for the first half period was 1.9 billion dollars and diluted earnings per share were 1.62 dollars versus the first half of fiscal 2023, an increase of 37 percent, and were up 19 percent versus last year’s first half adjusted earnings per share of 1.36 dollars. TJX raises full year outlook “Our overall apparel and accessories sales were very strong. Overall home sales significantly improved and returned to positive comp sales growth, with HomeGoods posting a 4 percent comp sales increase. TJX Canada and TJX international also both delivered comp sales growth and customer traffic increases. With our above-plan results, we are raising our full-year outlook for comparable store sales, pretax profit margin, and earnings per share,” added Herman. For the third quarter, the company is planning overall comparable store sales to be up 3 percent to 4 percent, pretax profit margin to be in the range of 11.3 percent to 11.5 percent and diluted earnings per share to be in the range of 95 cents to 98 cents. For the fiscal year ending February 3, 2024, the company is now planning overall comparable store sales to be up 3 percent to 4 percent. Pretax profit margin is now expected to be in the range of 10.7 percent to 10.8 percent and diluted earnings per share to be in the range of 3.66 dollars to 3.72 dollars, while adjusted pretax profit margin is expected to be in the range of 10.6 percent to 10.7 percent and adjusted diluted earnings per share to be in the range of 3.56 dollars to 3.62 dollars. Based on the company’s third quarter and full-year outlook, the company is planning fourth quarter comparable store sales to be up 3 percent to 4 percent, pretax profit margin to be in the range of 10.7 percent to 10.9 percent and earnings per share to be in the range of 1.10 dollars to 1.13 dollars. Adjusted pretax profit margin expected to be in the range of 10.3 percent to 10.5 percent and adjusted diluted earnings per share to be in the range of 1 dollars to 1.03 dollars. During the second quarter, the company increased its store count by 19 stores to a total of 4,884 stores.
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Australia starts digital platform Circular Sourcing for surplus and designer deadstock fabrics

Rolls of pink fabric. Credits: Jonathan Borba / Pexels According to research, over 10 million kilograms of excess textiles are created, imported or accumulated from production leftovers every year in Australia, amounting to about 500 million dollars. Reason enough for the Australian circular fashion brand A.Bch World to do something about it. Thus, six weeks ago, Circular Sourcing was launched, Australia's first digital platform to recirculate high-quality surplus and designer deadstock fabrics. According to the platform, surplus and deadstock fabrics currently occupy space in over 85 percent of fashion- and textile-related businesses. “The pilot phase has been supported by Sustainability Victoria's Circular Economy Business Innovation Fund (SVCEB) and we're already seeing huge interest from both buyers and sellers,” says the initiative in a press release. A.Bch was founded in 2018 when founder Courtney Holm experienced a major shortage of circular raw materials on the market. In 2022, the online shop was transformed into a marketplace where other businesses could sell their surplus material as well. Apart from the SVCEB, the platform is also supported by project partners Full Circle Fibres, Melbourne Textile Knitting, The Social Studio and collaborators like Harvey and The Good Egg Collective. “Our goal is to radically shift the needle, supporting the Australian fashion and textile industry as it transitions to working with more surplus or recycled materials and less virgin materials,” says the initiative on its website. How does it work? Those interested in sourcing fabrics can browse the platform by categories like “new arrivals,” “collections,” “prints,” “MOQ 1 metre,”, recycled,” “organic” and “Australian milled”. Filters allow to streamline one’s search according to material, fibre, colour, quantity or price. The website also mentions how many metres of a particular fabric are in stock. There is also a Learning Hub with more information about materials, related articles and local circular economy news. This is also where customers find more information about recyclable fabrics that qualify for a take-back program: “Imagine a product stewardship that went so deep that you could pack up those offcuts and return them to the manufacturer. Welcome to actual circular sourcing.” Those who have access materials to sell can also use they platform to list what they have: They just have to apply for a seller account, list their products, send samples of their fabrics and then the listings can go live. Those customers who would like to see and feel a fabric can do so in the Circular Sourcing showroom in West Melbourne, Victoria.
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