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.
End., the Newcastle-headquartered retailer of luxury fashion and streetwear that was acquired by The Carlyle Group last year, is undergoing a leadership change.
Parker Gundersen, who previously led retail operations at LVMH’s travel retail competitor, DFS Group, and also served as CEO of Zalora, an important fashion e-commerce player in Southeast Asia, will succeed co-founders Christiaan Ashworth and John Parker. Ashworth and Parker will remain on the board of directors of the company, which opened its first brick-and-mortar store in 2005 but emerged in the late 2010s as a serious online competitor in the accellerating race to reach the growing ranks of young, often male, luxury consumers. By 2018, it was generating $180 million in sales a year, on track to surpass $300 million by 2020.
The introduction of Gundersen, who will also have a seat on the board, indicates that Carlyle is eager to further End.com’s expansion both online and off with a seasoned operator.
In recent years, the number of major players battling for the online luxury consumer has proliferated, with companies like End., Ssense and Highsnobiety receiving investment on the back of their ability to reach that coveted menswear customer.
In a rare interview, the founders of the Newcastle-based shopping destination reveal their plans to reach $350 million in annual revenue by 2020.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
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.