The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — The five-day Thanksgiving shopping period saw combined sales at 80 of the largest 100 US web retailers rise more than 23 percent over last year to $24.2 billion, according to Adobe Analytics. Not only did Cyber Monday rack up the most purchases — as in years past — but revenue of $7.9 billion made it the largest online shopping day of all time in the US, the group's data showed. Mobile transactions soared, with $2.2 billion of the day's sales originating from smartphones. "Sales coming from smartphones hit an all-time high," said John Copeland, head of Marketing and Customer Insights at Adobe. "We saw a significant spike in the Buy Online, Pick Up In-Store trend."
By Nancy Moran; editors: Anne Riley Moffat, Sophie Caronello and Lisa Wolfson
Earnings season kicks into high gear, with companies riding high and plumbing new lows reporting.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.