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.
US shoppers are buying up luggage, designer clothes and teeth whiteners, signalling that they’re ready to leave lockdowns behind as the vaccine rollout progresses.
America’s biggest retailers are reporting strong sales of products that have suffered in the pandemic age of face-coverings and Zoom calls. While Covid-19 hasn’t gone away, many people across the US are starting to think again about nights out and family vacations.
“After a year of reduced activity, consumers are ready to get out, reconnect with family and friends,” Macy’s Inc. Chief Executive Officer Jeff Gennette said on a conference call with analysts Tuesday. “Our customers are ready to spend.”
They’re also preparing to travel. Macy’s said luggage was one of its strongest categories last quarter, which is welcome news for struggling tourist centres around the U.S. that have been bereft of travellers, both domestic and international, since early 2020.
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Dresses are another dormant category that’s starting to revive. Macy’s said sales spiked for mother-of-the-bride dresses and prom outfits. With return-to-office efforts ramping up, Bloomingdale’s saw signs of improvement in both dresses and tailored men’s clothing like suits and blazers.
Walmart Inc. said it’s having trouble keeping adult bikes and some consumer electronics in stock. Teeth whitening products are also in high demand with masks coming off, which bodes well for other cosmetic goods for the face, such as lipstick and foundation.
“We are seeing high demand in anything related to travel, and getting back to work,” Walmart Chief Financial Officer Brett Biggs said in an interview Tuesday.
By Kim Bhasin.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.