BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
TOKYO, Japan — Fast Retailing Co., Asia’s largest clothing retailer, raised its forecast for annual profit as the seller of Uniqlo apparel expanded overseas and benefited from the yen weakening to a three-year low.
TOKYO, Japan — Fast Retailing Co., Asia’s largest apparel retailer, rose to a record in Tokyo trading after saying warmer weather and an extra Sunday in March fueled the biggest monthly sales jump in more than three years.
The Queen of Clean (WSJ) “Sander is one of the few who has managed to return to her namesake company—not just once, but twice. ‘The first time I left was difficult,’ Sander admits. ‘But it was even more sad the second time. I sold my shares and cut completely.’ In her new setup, as creative director, Sander is an employee of a publicly traded company: She doesn’t own any shares; she does not sit
Chanel’s Little Black Jacket: How Chanel split the fashion atom (Telegraph) “That innocuous cardie turned out to be fashion’s equivalent of the atom. And Coco split it. First, she took its pockets, which were perfectly positioned far enough down the front panels to encourage a woman to thrust her hands in them confidently, and placed them in corresponding places on jackets. Prior to Coco, women did not thrust, and
Fast Retailing May Buy Bigger Rival in U.S., Europe on Yen (Bloomberg) “Fast Retailing Co., Asia’s largest clothing chain, may buy a bigger rival in the U.S. or Europe after the yen’s advance to a postwar high against the dollar boosted the Japanese company’s purchasing power… The billionaire aims to take advantage of the yen’s climb to expand outside Japan, where an unexpectedly long summer damped demand for fall and
Fast Retailing sets sights on US expansion (FT) “Fast Retailing is poised to expand aggressively in the US, where it is opening its largest Uniqlo store on Friday, as part of its plan to globalise operations rapidly and reduce dependence on its home market… Fast Retailing, which made its name selling high quality, affordable, casual clothes, is accelerating its overseas build-up, with plans to open 200 to 300 stores
End of the line for Zara tsar (Independent) “Amancio Ortega, the wealthiest man in Spain and perhaps one of the world’s most reclusive moguls, has tiptoed into the spotlight this week by announcing his imminent retirement from the fast-fashion giant Inditex… which he founded with a single store in La Coruna 35 years ago.” Who’s Buying All That Luxury? Not the Rich (WSJ) “Luxury is soaring again…
‘Superficial’ Fashion Leads Uniqlo Billionaire Astray (Bloomberg) “Tadashi Yanai, Japan’s richest man, used advice from management guru Peter Drucker to build his Uniqlo clothing empire. To pull out of a slump that’s hammered profits and shares, the billionaire is revisiting the lessons.” J. Crew Board Didn’t Have Many Details Ahead of Bid (WSJ) “J. Crew’s chief executive Millard
Fast Fashion Meets Couture in Paris (IHT) “H&M has a particular reason to welcome the [Lanvin] collection to Paris: a new 2,800-square meter… store on the Champs-Élysées, designed by the French architect Jean Nouvel — the first time a ‘fast fashion’ chain has followed the architectural route.” Coach Gallops Into Europe (IHT) “Mr. Frankfort, chairman and CEO of the American accessories
US luxury stores outperform rest of retail sector (FT) “US luxury department stores outperformed the rest of the retail sector during September, underlining the extent to which more prosperous shoppers are leading the recovery in consumer spending.” Asos launches US site (Retail Week) “Asos is promoting the new website, Us.asos.com, by giving US customers free delivery. It plans to launch French and German
Profiling the Value Retailers (WWD) “Stores, like people, have personalities. Whether that personality determines the customer, or the customer the personality, is one of those chicken versus egg questions that’s a matter of perennial debate (well, at least among retail nerds).” Selfridges and Dolce & Gabbana in ‘giant falling out’ (Telegraph) “From next spring, the chain’s department stores