NEW YORK, United States — Nike Inc.’s addition to the Dow Jones Industrial Average is a testament to the company’s ability to shrug off hard times and transcend its U.S. origins, making its swoosh logo known from Beijing to Buenos Aires. The world’s largest maker of sporting goods will join the 30-member gauge when the market opens on Sept. 23 along with Goldman Sachs Group Inc. and Visa Inc. They are replacing Bank of America
Baroque Japan — owner of womenswear brands including Moussy, Sly, Rodeo Crowns, Shelter, Black and Rienda — has a new Chinese majority shareholder, which already owns some 25 percent of the Chinese footwear market and aims to create one of the biggest fashion retailers in Asia. JapanConsuming reports.
NEW YORK, United States — U.S. low-price retailer T.J. Maxx plans to open an online store this year, as does rival Saks Inc's Off Fifth outlets, making 2013 the year technology may have caught up with the speed of fashion.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
PORTLAND, United States — Not long ago, Nike Inc. could simply open stores in China and wait for newly minted middle-class shoppers to show up. No longer. Though it has been in China for 30 years, the world’s largest sporting-goods maker is losing customers to Adidas AG’s more fashionable street wear and Hennes & Mauritz AB’s H&M cheap, hip clothing.
PORTLAND, United States — Nike Inc. promoted Eric Sprunk to chief operating officer and said Charlie Denson, president of the company’s flagship brand, will retire next year.
RANCHO PALOS VERDES, United States — Speaking yesterday at the All Things Digital conference, Apple CEO Tim Cook said the company would release “several more game changers” like the iPod, iPhone and iPad, hinting that wearable devices could be among them.
Sportswear giant Nike, known for the cultural fluency of its niche marketing and communcations efforts, is running a visually arresting four-page spread in the latest issue of under-the-radar architecture and design magazine PIN-UP.
HONG KONG, China — Armed with empty suitcases and same-day return tickets, an army of mainland Chinese is descending on suburban outlet shopping malls and international fashion chains in Hong Kong, turning cheap into the new chic as luxury falls out of favour.
BoF distills recent fashion stories from the French media.
Credit Suisse has issued a report on the rise of the wearable technology market, which, it says, has hit “an inflection point” and will have “a significant and pervasive impact on the economy,” reaching $30-$50 billion over the next 3-5 years.