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☆ The fall of Gucci was inevitable
▼ + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.

Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia

☆ Free Shipping and Free Returns From Online Shopping Are Dying. Good.
▼ + stars: | 2024-02-18 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

Well, if you’ve ever bought stuff online and received free shipping or returns, you’ve also been a little bit of a jerk — and now it’s time to pay up. Fast, free shipping and easy, no-cost returns have become a baseline expectation in the modern online shopping experience. Instead of fighting for market share by offering free shipping and no-hassle returns, retailers are trying to squeeze more money out of every transaction. Free shipping is not actually free . Returns are a necessary and inevitable part of online shopping.

Persons: you’ve, —, ASOS, ” Neil Saunders, hasn’t, Emily Stewart Organizations: National Retail Federation, Appriss, Urban Outfitters, Saks, Amazon, Retailers, Business Locations: Zara, J.Crew, what’s

☆ Retailers Are Turning to AI to Get Smarter About Inventory
▼ + stars: | 2023-11-30 | by ( Liz Young | ) www.wsj.com time to read: 1 min

Merchants like Walmart are using technology that takes in everything from weather patterns to social-media trends. Photo: Victor J. Blue/Bloomberg NewsRetailers are turning to artificial intelligence technology to better predict shopper demand and repair supply chains whipsawed by volatile consumer buying patterns during the pandemic. Merchants including Walmart , retail-pharmacy giant Walgreens and online fashion seller ASOS are rolling out the increasingly sophisticated technology that takes in everything from weather patterns to social-media trends to evaluate huge sets of data and guide decisions on where to place inventory.

Persons: Victor J Organizations: Walmart, Bloomberg News Retailers, Merchants, Walgreens

☆ What is fast fashion, and why is it so controversial?
▼ + stars: | 2023-11-24 | by ( Amaya Mcdonald | Taylor Nicioli | ) edition.cnn.com time to read: +7 min

But while cheap chic may seem like the way to go, the fast fashion industry sees clothing pushed out on a scale that is even too large for most consumers to keep up with. Why is fast fashion so popular? Fast fashion accounts for “quick designs, quick manufacturing, quick marketing, quick retailing — it doesn’t leave the time to consider these bigger needs, like ethical considerations or rights of workers,” Osnes said. “The planet is on fire, and the truth is the fashion industry aids in a percentage of that.”Is ‘sustainable fashion,’ a viable alternative? But shop responsibly… try to use your budget to buy one good quality item,” Arya said, instead of a glut of fast fashion basics.

Persons: CNN —, Preeti Arya, Vox, Shein, Jade Gao, Beth Osnes, ” Osnes, “ It’s, ”, Aja Barber, Technology’s Preeti Arya, Richard Levine, Arya, ” Arya Organizations: CNN, Fashion Institute of Technology, New York Times, Times, Shein, Getty, United Nations Environment Programme, Greenpeace, George Washington University . Apparel, University of Colorado, Fashion Institute, Technology’s, Thrift Locations: New York, United States, Paris, Zara, Singapore, China, Guangzhou, AFP, India, Bangladesh, Pakistan

☆ These big names in retail could get hit by Temu's surging growth, Bank of America says
▼ + stars: | 2023-11-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The explosive growth of Temu, the U.S. arm of Chinese e-commerce giant Pinduoduo , could spell trouble for some major retailers, according to Bank of America. Just six months ago, Temu's sales were only 4% of Target's. The analysts say Temu's growth has been fueled by aggressive advertising using influencers, social media and search, with daily active users reaching 40% of Amazon's level. Retailers at risk The BofA analysts say retailers competing on price alone are particularly exposed to Temu's disruption. Separately, analysts at UBS investment bank also see Temu's growth in a similar vein.

Persons: Thomas Thornton, Kohl, Zara, Inditex, Pinduoduo, Lowe, CNBC's Michael Bloom Organizations: Bank of America, Consumers, of America's, Navy, Urban Outfitters, Walmart, Target, UBS, Costco Locations: Temu, U.S, United States, Swiss

☆ 17 Best Dress Shoes for Men, According to Style Experts
▼ + stars: | 2023-11-03 | by ( Leah Melclinton | ) www.wsj.com time to read: +8 min

The laces and classic body shape are characteristic of traditional men’s dress shoes, while the rugged rubber soles still make a statement with any formal outfit. “Good leather shoes are not an arena in which it pays to cut costs,” he says, recommending investing in “the pair of a decade” from this made-in-England favorite. (Crockett & Jones has regal and Hollywood credentials: the brand received a Royal Warrant of Appointment in 2017, and this is the style of dress shoes worn by Daniel Craig’s James Bond). Sleek sneakersThe key to dressed-up sneakers is finding a leather pair free of busy accents or logos. The style is “acceptable to wear with dress clothes,” confirms Los Angeles-based personal stylist Rayne Parvis, who advises people to wear these sneakers in place of brown lace-up dress shoes.

Persons: Leah Melby Clinton You’ve, Magnanni Marco, Jim O’Brien, O’Brien, Wes Sharpton, Cole Myers, ”, Jones, Daniel Craig’s James Bond, Nolan Beck, Rivera, suede Myers, Myers, cushioned, ’, ” Beck, Johnny Cash, Saint Laurent, “ They’re, Beck, Rayne Parvis Organizations: Huntington, Cleobella, Kansas, Monroe, Crockett, Chelsea Boots Locations: Huntington Beach, Calif, Catskill, N.Y, New York City, Paris, Kansas City, Mo, England, Polish, Richmond, Va, Montreal, French, Alsace, ”, Mexico, Nisolo, Los Angeles

☆ Zalando cuts 2023 sales forecast as demand stays weak
▼ + stars: | 2023-11-02 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. Zalando now expects 2023 revenue to fall between 0.5% and 3%, having previously guided to a 1% decline at worst. An unusually warm September weighed on sales of autumn and winter clothes, Zalando said, exacerbating the impact of weak consumer sentiment. Gross merchandise volume - a measure of sales on the platform by Zalando and partner brands - fell by 2.4% from a year ago. The company's market value has dropped over the past two years as shoppers, freed from pandemic restrictions, returned to stores and ordered fewer clothes online.

Persons: Clodagh, Zalando, Clément Génelot, Bryan Garnier, Zalando's, Génelot, Gross, Helen Reid, Christian Schmollinger, Sonali Paul Organizations: REUTERS, Thomson Locations: Galway, Ireland, Paris, Germany, Austria, Switzerland

☆ ASOS fashion retailer says turnaround to bring back growth in 2025
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Smartphone with ASOS app, a keyboard and a shopping cart are seen in front of a displayed ASOS logo in this illustration picture taken October 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 1 (Reuters) - British online fashion retailer ASOS (ASOS.L) forecast another year of falling sales in 2024 but said its turnaround plan was starting to take shape and growth would return the following year. Casting 2024 as a transition year, the group said that historic stock problems would continue to drag on sales and profitability during its current financial year, and it forecast sales declines of 5% to 15%. In its 2025 financial year, ASOS said it expected to return to growth with core earnings margin around pre-COVID levels. Calamonte is focused on reducing the amount of stock ASOS carries and refreshing ranges more quickly, while cutting costs and improving its cash position, and he said on Wednesday ASOS would focus on its core fashion offering in 2024.

Persons: Dado Ruvic, José Antonio Ramos Calamonte, ASOS, PwC, Sarah Young, William James, Tomasz Janowski Organizations: REUTERS, Thomson

☆ Turkey Conducts Fresh Air Strikes in Northern Iraq
▼ + stars: | 2023-10-03 | by ( Oct. | At P.M. | ) www.usnews.com time to read: 1 min

ANKARA (Reuters) - Turkish air forces conducted fresh air strikes in northern Iraq on Tuesday and destroyed 16 targets of the outlawed Kurdistan Workers Party (PKK), Turkey's defence ministry said. The operations were conducted in the Metina, Gara, Hakurk, Qandil and Asos regions of northern Iraq at 8 p.m. (1700 GMT) and that every measure was taken to avoid harm to civilians and the environment, the ministry said. Two attackers detonated a bomb in front of Turkish government buildings in Ankara on Sunday, leaving both of them dead and two police officers wounded, and the PKK claimed responsibility for the attack. (Reporting by Huseyin Hayatsever)

Persons: Huseyin Hayatsever Organizations: Kurdistan Workers Party Locations: ANKARA, Iraq, Gara, Hakurk, Ankara

☆ Amazon and more: Barclays reveals internet winners and losers for an AI world
▼ + stars: | 2023-09-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Analysts at Barclays have named consumer internet stocks set to do well — and badly — in an age of generative AI. Outlining what they called "a framework for generative AI success," the bank analyzed possible opportunities and risks as generative AI is embraced around the world. "We think it's still too early to declare the AI (artificial intelligence) 'winners' and 'losers' in the consumer internet space. Stocks to watch Barclays named several stocks that it says screen well, including U.S. tech giants Google , Meta and Amazon . Barclays warned that, for these companies, generative AI could make audience acquisition more difficult and limit opportunities for investments.

Persons: Stocks, Michael Bloom Organizations: Barclays, Google, Meta Locations: China, U.S, Tencent, disruptors

☆ Some say 'deshopping' or returning already-worn clothes should be illegal. Others argue it's an invaluable marketing tool — so who's right?
▼ + stars: | 2023-07-25 | by ( Sara Davies | ) www.businessinsider.com time to read: +7 min

Last year, fashion returns created 750,000 tonnes of carbon-dioxide emissions in the UK. But shoppers who buy clothes with the intent of returning them after wearing them are adding fuel to the fire. The environment likely suffers from fashion returns a lot more than we dare to estimateStaff aren't the only ones that we need to consider. A big proportion of unwanted clothes that companies can't resell or recycle end up burned or in landfills. Last year, fashion returns were responsible for 750,000 tonnes of carbon-dioxide emissions in the UK.

Persons: Dani H, who's, —, Deshopping, Stuart Higgins, BearingPoint, wardrobing, Zeenia, Naqvee, PrettyLittleThing, aren't, Chloe Organizations: . Research, Service, Retailers, Marketing Management, Observer, Institute of Positive Locations: Wall, Silicon, Sheffield, England

☆ One consumer returns 95% of the clothes she buys online. Some say it should be illegal since it hurts workers and the environment, but companies don't seem to mind — heres why.
▼ + stars: | 2023-07-25 | by ( Sara Davies | ) www.businessinsider.com time to read: +7 min

Last year, fashion returns created 750,000 tonnes of carbon-dioxide emissions in the UK. Today, companies consider returns management to be more of a marketing tool, and handling returns well can help companies gain new customers and keep them coming back. The environment likely suffers from fashion returns a lot more than we dare to estimateStaff aren't the only ones that we need to consider. A big proportion of unwanted clothes that companies can't resell or recycle end up burned or in landfills. Last year, fashion returns were responsible for 750,000 tonnes of carbon-dioxide emissions in the UK.

☆ H&M to grow third-party brand strategy as online rivalry intensifies
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, June 29 (Reuters) - H&M (HMb.ST) plans to sell more third-party brands online and in stores, CEO Helena Helmersson said on Thursday, as one of the world's top fashion retailers ramps up its effort to take on e-commerce rivals. Its marketplace strategy, launched last year, is aimed at challenging online rivals like Zalando, ASOS, and fast-fashion giant Shein as competition intensifies. Inditex-owned (ITX.MC) Zara features other brands only for exclusive collaborations, such as with South Korean label Ader Error and British shoemaker Clarks. "This has been really well received by customers who also complement the H&M assortment with other brands," Helmersson said. "Inditex's thinking is focused on its own brands, own stores and own online," said Lowery.

Persons: Helena Helmersson, M's, Zara, Clarks, Helmersson, Geoff Lowery, Inditex's Zara, Lowery, Marie, Helen Reid, Josephine Mason, Emma Rumney Organizations: Adidas, South, Marie Mannes, Thomson Locations: STOCKHOLM, Cos, Swedish, Monki, Hong Kong, Stockholm, London

☆ European shares slip after ECB rate hike
▼ + stars: | 2023-06-15 | by ( Shreyashi Sanyal | Bansari Mayur Kamdar | ) www.reuters.com time to read: +2 min

(Reuters) -European shares slipped on Thursday after the European Central Bank (ECB) raised borrowing costs as expected and signalled more policy tightening in its fight against sticky inflation. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 13, 2023. REUTERS/Staff/ FILE PHOTOThe continent-wide STOXX 600 index closed 0.1% lower after falling as much as 0.8% earlier in the day. The ECB increased the deposit rate by 25 basis points to 3.5%, the highest level in 22 years. This was the central bank’s eighth successive raise.

Persons: Christine, Lagarde, ”, Stuart Cole, Halma, SoftwareOne Organizations: Reuters, European Central Bank, REUTERS, Staff, ECB, Equiti, U.S . Federal Reserve, ASOS, Bain Capital Private Equity, Informa Locations: Frankfurt, Germany, Swedish, British, Swiss

☆ Fashion retailers resilient despite consumer fears
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

Shares in H&M gained 6% as analysts forecast a stronger third quarter after flat sales from March to May. Bank of America analysts said H&M's sold-out collaboration with luxury brand Mugler could also help boost half-year earnings expected on June 29. Despite sales falling, it said its focus on profit per order was paying off. The online retailer, bruised by shoppers' return to physical stores post-pandemic, has cut stock by 15% since the start of the year and said it was removing unprofitable brands from its platform. "While cracks are clearly visible in the U.S. consumer environment and to a lesser extent in Europe, Hugo Boss has been immune so far," Citi analysts said.

Persons: Sweden's, Inditex, M's, ASOS, Hugo Boss, Helen Reid, Marie Mannes, James Davey, Linda Pasquini, Sharon Singleton Organizations: Bank of America, Citi, Thomson Locations: U.S, Europe, China, Zara, London, Stockholm, Gdansk

☆ ‘I Wear It Every Single Day.’ Why 20-Somethings Can’t Get Enough of This Y2K Hair Trend
▼ + stars: | 2023-06-14 | by ( Grace Rasmus | ) www.wsj.com time to read: 1 min

IT TOOK Kirstie-Anne Woodman a month and a half to master the claw clip. “I tried to do [my hair] the way women with [finer hair] hair do it—just kind of twist and then flip up—and it wasn’t working,” said Woodman, who is Black. “I take my hair and split it in two like I’m doing pigtails,” she said. Next, “I twist the two strands together, flip it up and start wrapping it like a bun. Then the claw clip will go straight in the middle and the ends will go up and over the back.”

Persons: Anne Woodman, ”, “, Woodman Locations: London

The pan-European STOXX 600 index (.STOXX) ended 0.4% lower after a survey showed the U.S. services sector barely grew in May, while factory orders rose less than expected. "There's a bit of profit taking after some of the moves we've had recently," said Steve Sosnick, chief strategist at Interactive Brokers. "The economic reports that we've gotten around the world (signal) a somewhat slowing economy." Shares of Indivior Plc (INDV.L) jumped 7.8% to top the STOXX 600 index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips, Dhanya Ann Thoppil and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: we've, Steve Sosnick, Christine Lagarde, Joachim Nagel, Shreyashi Sanyal, Sherry Jacob, Phillips, Dhanya Ann Thoppil, Richard Chang Organizations: PMI, Interactive, U.S . Federal, European Central Bank, Amazon.com Inc, Indivior Plc, Trendyol, Viaplay, Volvo, Copenhagen Stock Exchange, Thomson Locations: U.S, Alibaba, Swedish, Sweden, Bengaluru

☆ UK's Boohoo profit halves as shoppers squeezed
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 16 (Reuters) - British online fashion retailer Boohoo (BOOH.L) reported a halving of annual core earnings as shoppers were hit by a cost-of-living crisis and many returned to physical stores post-pandemic. Sales at Boohoo and rival ASOS (ASOS.L) surged during COVID-19 when high street rivals were closed by lockdowns. But supply chain issues, higher product returns, competition from rivals like Shein and accelerating living costs have hit them hard. Boohoo does, however, expect an improved performance in its new financial year. It forecast 2023/24 revenue would be flat to down 5%, with a focus on profitable sales, and adjusted EBITDA of 69-78 million pounds, in line with market expectations.

☆ ASOS reports first half loss as shoppers cut back
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] New employees wait in the lobby on their first day of work at the ASOS headquarters in London April 1, 2014. REUTERS/Suzanne PlunkettLONDON, May 10 (Reuters) - ASOS (ASOS.L), Britain's one-time poster child for the shift to online fashion retailing, swung to a first half loss, hurt by a squeeze on household budgets and elevated product returns but said it was confident of a return to profit in the second half. Shares in ASOS have halved over the last year, with some analysts fearing it may need to raise further equity. ASOS ended the half with cash and undrawn facilities of 408.6 million pounds. Assuming no improvement to the external trading environment, it forecast a "low double-digit" decline in second half sales but with core earnings of 40-60 million pounds, reflecting its focus on profitable sales.

☆ See the pitch deck these 2 best friends made on Canva to raise $675,000 for their tequila brand
▼ + stars: | 2023-05-04 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +4 min

They registered their tequila brand, Pimantae, while working full-time jobs in 2021. They decided to pursue angel investors and used a pitch deck they made on Canva. They considered crowdfunding and venture capital as financing options, but settled on approaching angel investors. With their first investor locked in, other investors started expressing interest. They closed their pre-seed round in September 2022 having raised £545,000, or around $675,000, between 13 angel investors and Distill Ventures — far exceeding their original £250,000 goal.

☆ Early Asos and Boohoo investor leads $10 million round in discount fashion marketplace startup Secret Sales
▼ + stars: | 2023-05-03 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

UK-based fashion marketplace startup Secret Sales has raised a $10 million Series B round. Clothing marketplace startup Secret Sales has raised $10 million in a round led by an early backer of fashion giants Asos and Boohoo despite a cooldown in investor interest in the sector. Some fast fashion retailers are under investigation by the Competition and Markets Authority for supposedly greenwashing how eco-friendly their fashion lines and manufacturing efforts have been. This allows brands to connect to Secret Sales in under two weeks, while legacy outlets take up to eight weeks, Griffin added. Secret Sales' "model is not just a small niche of a market, it's a vast market, and it scales potentially globally," said Iain McDonald, founder of Belerion Capital Group.

☆ Amazon, other retailers revamp 'free' shipping as costs soar
▼ + stars: | 2023-03-24 | by ( Lisa Baertlein | ) www.reuters.com time to read: +6 min

REUTERS/Alyssa PointerLOS ANGELES, March 24 (Reuters) - There is no such thing as free shipping. "The days of free delivery are numbered," Ken Morris, managing partner at Cambridge Retail Advisors, said of the fast-changing retail marketing tool. It is an open secret that most retailers raise product prices to subsidize free shipping. Postal Service hitting record levels, the industry where nearly three-quarters of e-commerce companies offer some sort of free shipping is rethinking the financial cost of habituating shoppers to free shipping. While retailers like Amazon and fashion purveyor Asos Plc (ASOS.L) have raised thresholds for fast shipping, others are dropping free shipping altogether or taking product prices up again.

☆ Britain's early retired resist calls to work, despite higher living costs
▼ + stars: | 2023-03-09 | by ( David Milliken | ) www.reuters.com time to read: +8 min

The exodus of older workers has no equivalent in other advanced economies. "The best part of 90% of people who say they are early retired ... say that they will probably or definitely never work again." Based on data from before the pandemic, Britain's Resolution Foundation found the richest fifth of 50-59 year olds were 10 times likelier to retire early than the bottom fifth. Other companies say they value older workers for their experience. "Older workers are the ones that have got the skills - we don't find young people with the skills that we need.

☆ This 28-year-old turned her fashion blog into a clothing line that sold $3.5 million worth of products in 2022. Here's how she built her lucrative online business.
▼ + stars: | 2023-01-20 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Sarah Ashcroft started her blog in 2013 after trying to land a job in fashion public relations. Since then, Ashcroft has taken her influence and turned it into a clothing line called SLA the Label, which launched in 2019. In 2022, that number jumped to $3.5 million (2.9 million pounds). "It's just amazing how something so simple has just grown so big," said Ashcroft, 28, who has more than 1.4 million followers across social media. During her job hunt, employers frequently asked her whether she had a fashion blog, Ashcroft said, because they were looking for someone with a fresh understanding of blogging.

☆ Online retailer Boohoo sales drop 11% in Christmas period
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 19 (Reuters) - British online fashion retailer Boohoo (BOOH.L) said revenue fell 11% in its key Christmas trading period, hurt by delivery disruption and tough comparatives, as it broadly stuck to annual guidance. Its forecast for a 12% decline in annual revenue was slightly behind the downgraded guidance for a 10% drop it gave in September. The sales fall during the Christmas period, the four months to the end of December, was partly due to longer delivery times, said Boohoo, and its UK market, where sales were also down 11%, was against a tough comparative period, as last year, COVID-19 meant shoppers favoured online orders. Those retailers noted that store sales benefited from delivery problems in Britain, where postal strikes, made people worry about orders turning up in time. Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

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