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.
Fourteen percent of the US retail market is coming up for lease renewals this year, furthering a trend towards shorter length leases, reports CNBC, as retailers struggle to fill vacant spaces.
Retailers are thinking carefully about their store networks and looking to exit enclosed shopping malls.
VF Corp is among the companies that has said its leases are getting shorter, especially coming out of the pandemic. Its average lease term now is four years. Traditionally, retailers signed 10 or 20-year leases when opening new stores.
While shorter leases give stores more leverage, mall owners may increase rates in a few years. David Simon, chief executive of Simon Property Group, told analysts in February that “I’d rather negotiate two or three years from now.”
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.