Guest contributor Rachel Arthur recaps the highlights of this year’s SXSW Interactive conference and identifies key takeaways for the fashion industry.
HERZOGENAURACH, Germany — Adidas is to stick with its troubled Reebok business even though the German sportswear group had to make a 265 million euro ($344.5 million) write-down on the brand at the end of last year. Adidas, which bought Reebok in 2005 for $3.8 billion to try to close the gap with market leader Nike, last year had to cut its 2015 sales target for the brand by a third after two quarters of declining sales. But the
BoF editor-in-chief Imran Amed recaps the week’s top developments in the business of fashion.
CHICAGO, United States – Yesterday, US First Lady Michelle Obama celebrated the 3-year anniversary of ‘Let’s Move,’ her campaign to fight childhood obesity. She was joined by Mark Parker, president and CEO of Nike, who announced that the sportswear giant was committing $50 million to Mrs. Obama’s cause, to be spent on a multi-pronged effort to bring physical activity back to American schools over the next five years.
NEW YORK, United States — Coach Inc. shares rose 5 percent on Wednesday to $48.90 after a DealReporter article said there were rumours among investment bankers that the leather-goods maker was exploring a sale of the company. A Coach spokeswoman said the company does not comment on speculation or rumours. A share price of $48.90 would give Coach a market value of $13.7 billion. DealReporter cited two bankers as saying there were rumours Coach was exploring a sale, and a third banker who said Coach was rumored to be exploring strategic options, but was unable to provide specific information. Last month, Coach reported disappointing quarterly earnings and has faced growing competition from companies like Michael Kors Holdings Ltd. Two weeks…
The dramatic, public falls-from-grace of Nike brand ambassadors Oscar Pistorius, Lance Armstrong and Tiger Woods should create pause for high-profile brand association in the digital age.
Nike sells Umbro brand to Iconix (FT) “Iconix Brand Group has agreed to buy Nike’s Umbro sports apparel and footwear unit for $225m in cash, marking the fashion brand’s second deal with the US sportswear group.” Accessible Luxury Brands Ride China’s Middle-Class Wave (Jing Daily) “As the battle rages on between high-end and high-street brands in mainland China and Hong Kong, one ongoing trend to watch is the
Are Fashion Brands Underestimating the Importance of China E-Commerce? (Global Briefing) “In order to succeed in a fast-changing China, brands must refocus attention on e-commerce. ‘Companies cannot have a major presence in China without having an online presence, not only to generate sales but also to engage with customers where they spend so much time.’” Fashion 2.0 | Connecting With Consumers Through
NEW YORK, United States — “We see this as a world where every product we create is a smart product,” Stefan Olander, Nike’s vice president of digital sport, told BoF following a SXSW presentation centered on Nike+ FuelBand, a sleek motion-tracking wristband and iPhone app that measures and visualises everyday physical activity, providing users with realtime data on each step taken and each calorie burned. “RFID tags are so tiny now