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 department store, along with its subsidiaries Bluemercury and Bloomingdales, and the American fashion magazine are the latest organisations to take up Aurora James’ 15 Percent Pledge to allocating a set amount of retail space, content and collaborations with Black-owned brands.
James started the pledge campaign after the killing of George Floyd by police officers in May, which spurred wider awareness and support of the Black Lives Matter movement, as well as conversations about discrimination in the fashion industry.
Other organizations that have signed the pledge include Sephora, Rent the Runway and American Vogue. Macy’s Inc. will be the largest company to take the pledge and said it will dedicate 15 percent of its buys in all product categories to Black-owned businesses.
InStyle magazine pledges that 15 percent of the brands it covers are Black-owned, and it also promises to promote Black creatives in the fields of modelling, styling and other adjacent fields.
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.
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.