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.
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
Chanel’s Scottish Touch Warms Up the Scottish Highlands (IHT) “The Chanel show that Karl Lagerfeld put on last week at Linlithgow Palace, near Edinburgh, was spectacular in every sense of the word. The burning braziers, sending quivering light over old stone, and the dinner held in a tented space, arising like magic on the hillside, were outshone only by an exceptional collection.” H&M Launches First Global
Op-Ed | Making The Case Against Fast Fashion Collaborations (Opinion) “These underlying commercial motives are often obscured, however, by a ubiquitous but pernicious phrase: ‘the democratisation of fashion.’ Whoever coined the term is surely the marketing genius of the 21st century. On the face of it, who can argue that ‘the democratisation of fashion’ isn’t a good thing?” Joseph Mimran’s Fresh Approach (Intelligence)
Today, with the Maison Martin Margiela for H&M capsule collection set to arrive in stores later this week, guest contributor Eugene Rabkin, editor-in-chief of StyleZeitgeist magazine, makes the case against fast fashion collaborations. NEW YORK, United States — It’s been eight years since Karl Lagerfeld for H&M, the first collaboration between a high fashion designer and a mass retailer on a limited-edition capsule
NEW YORK, United States — “Are we failing to fulfil the potential of fashion film?” asked Quynh Mai’s Op-Ed for BoF earlier this year, citing misallocated budgets, uncompelling content, poor distribution strategies and established power structures that favour still photographers. Indeed, it’s fair to say that, while seasonal fashion shorts have become an essential part of the marketing toolbox for megabrands and emerging labels