Japan’s Fast-Fashion Frenzy (JC Report) “Japanese consumers have fallen head over heels for cheap clothing and may never turn back.” McCartney Sets New Tokyo, Paris Stores (WWD) Although the brand is only seven years old, Stella McCartney has opened new stores in Tokyo and Paris. The Gap’s Resurgence: Great Start to the Holiday Season (Seeking Alpha) At Gap, “spending is up significantly” for
So it’s official. As of the first quarter of 2008, Inditex, the phenomenally successful Spanish fast-fashion conglomerate and parent company of Zara, has officially overtaken The Gap to become the world’s biggest fashion retailer. In the meantime, the once venerable Gap is still tweaking its product around the edges, struggling to find a formula that works. Zara stores have been popping up on high streets and in malls
Big fashion business news Stateside last week were the dismal sales results of Gap Inc, the venerable American high street retailer that also owns Old Navy and Banana Republic. December 2006 like-for-like sales were down 8% versus 2005, which in turn were down 9% versus 2004. In the same period, many other retailers saw an increase in sales versus last year. Of late, the Gap has been struggling to recapture the heady days of growth
