BoF editor-in-chief Imran Amed recaps the week’s top developments in the business of fashion.
STOCKHOLM, Sweden -- Hennes & Mauritz AB, Europe’s second-largest clothing retailer, reported sales that dropped more than analysts anticipated. Revenue from stores and operations open at least a year dropped 3 percent, the Stockholm-based company said today, exceeding the SME consensus of a 1.9 percent drop.
H&M’s new Internet-inspired retail concept on Regent Street offers women a complete lifestyle brand at affordable prices.
LONDON, United Kingdom — According to an estimate released this week by Credit Suisse, Inditex, the Spanish company that owns ‘fast fashion’ giant Zara, will achieve online sales of over 600 million euros in 2013, almost double that of 2012, the results of which will be announced next week.
John Galliano in court to challenge dismissal from Dior and label (Telegraph) “Galliano appeared at a hearing at the conseil de prud’hommes (France’s equivalent to an employment tribunal) in Paris yesterday. His lawyer claimed victory after the court ruled it was qualified to hear the 52-year-old designer’s claims against his dismissal of creative director of Christian Dior in March 2011.”
Expansion costs hit H&M earnings (Reuters) “Hennes & Mauritz, the world’s No.2 fashion retailer, posted an unexpected drop in quarterly earnings, hit by competition in tough European markets and the cost of its expansion drive to take on bigger rival Inditex.” British-made fashion is back in business (Guardian) “The unique selling point of these products is, of course, that they are Made in Britain,
Op-Ed | Fashion’s Unsung Internet Forums (Opinion) “Much has been written about the rise of independent fashion blogs as both influential voices and viable businesses. But much less discussed are fashion-focused discussion sites, or forums, the Internet’s original hubs for independent fashion commentary.” Market Pulse | On Holidays (Market Pulse) “Neither the Savigny Luxury Index (“SLI”) nor the MSCI World Index
H&M to launch new concept stores in Spring (Reuters) “World number two fashion retailer Hennes & Mauritz will launch an eagerly-awaited new chain of stores targeting women shoppers in the Spring, it said on Wednesday.” Jason Wu’s New Contemporary Label Miss Wu Is Already a Hit (Daily Beast) “Miss Wu is a departure for the designer, now 30, who emigrated from Taiwan at age 9, launched his namesake label in
On Instagram, a Thriving Bazaar Taps a Big Market (NY Times) “Instagram, the picture-sharing application that Facebook bought earlier this year, has not yet figured out a way to make money. But some of its users have.” Hong Kong loses IPO crown (FT) “After three years of ruling the world, Hong Kong’s crown has undoubtedly slipped. This year the city fell to fourth place in the global rankings for initial public