STOCKHOLM, Sweden — Counting on the old adage that sales of affordable luxuries like lipstick and scarves climb in tough times, Hennes & Mauritz AB is rolling out a new chain called & Other Stories that focuses on upscale accessories.
There’s little doubt that H&M’s glossy marketing initiatives generate significant consumer buzz. But what impact do they have on the bottom line?
BARCELONA, Spain — Two years ago, Spanish retailer Mango could barely convince its employees to wear its dresses, skirts, and blouses, which many workers — and customers — thought were too formal. Today, Mango has ditched the glitz in favor of more casual attire like that from Spanish rival Inditex SA, the world’s biggest seller of apparel and owner of the Zara brand. The change has helped Mango outpace Inditex in Spain’s 16.2 billion-euro ($21 billion) clothing market. “We had gone way too far with our focus on clothes for parties and events,” said Enric Casi, general manager of the Barcelona-based retailer. “Not even our employees wore Mango.” The casual push wasn’t the only lesson Mango took from Arteixo, Spain-based Inditex as it…
MADRID, Spain — Zara owner Inditex tapped fashion-hungry consumers in new markets in 2012 to grow net profit by 22 percent even as austerity-hit shoppers in Europe tightened belts. The world's largest clothing retailer, which runs eight brands, posted net profit of 2.4 billion euros ($3.1 billion), opening new stores in 64 markets. It entered markets like Georgia, Bosnia and Ecuador for the first time.
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.
MADRID, Spain — The fourth day of Paris Fashion Week saw Raf Simons unveil the latest chapter of his journey after nearly a year at the design helm of Christian Dior. Following his acclaimed debut last year, the pressure has been stacked on the Belgian designer to deliver again in what is only his second ready-to-wear show in one of the most influential jobs in fashion. Spain's Amancio Ortega, elevated by Forbes to become the third
As materials, transportation and labour costs rise, putting pressure on margins, producers of fast fashion face growing challenges that only some will survive.
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)