The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
THE CHEAT SHEET
The Sneaker Market Perks Up
Dior x Nike | Source: Courtesy
The Dior X Air Jordan sneakers have had a tortuous road to release. First teased at the luxury brand's pre-fall show in December, the shoes were originally slated to drop in mid-March. The pandemic put an end to that plan, and marketing $2,200 sneakers would have been inappropriate immediately after anti-racism protests erupted in late May. The delays have probably worked in both brands' favor. A few pairs that have found their way to StockX — perhaps sold by influencers who received the shoes in the original marketing ramp-up — received bids topping $12,000.
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The Bottom Line: Drops are a reliable way to generate hype for a brand, but Yeezy's trajectory shows they can have a downside. Consumers trained to expect a constant stream of new product are quick to move on when the flood slows to a trickle.
Hitting Pause on Reopening
Stores reopen in Newport Beach, California | Source: Paul Bersebach / MediaNews Group / Orange County Register via Getty Images
The Bottom Line: Brands have largely woken up to the reality that the coronavirus will be with us for the long haul, and shopping patterns may have changed permanently.
Checking in on Department Stores
Macy's New York flagship store prepares to reopen | Source: David Dee Delgado/Getty Images
Macy's is preparing for leaner times by cutting costs, closing underperforming stores and laying off corporate staff. Luxury retailers are doubling down on services. Saks and Bergdorf Goodman are both offering same-day delivery to the Hamptons and private, by-appointment shopping in stores. And at every price tier, discounts are the norm (though this was often true pre-pandemic as well).
SUNDAY READING
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Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.
Manhattanites had little love for the $25 billion megaproject when it opened five years ago (the pandemic lockdowns didn't help, either). But a constantly shifting mix of stores, restaurants and experiences is now drawing large numbers of both locals and tourists.