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.
Nike Inc. said it would postpone the release of a sneaker collaboration with rapper Travis Scott’s Cactus Jack label after a crowd crush resulted in the deaths of 10 people at his concert earlier this month.
“Out of respect for everyone impacted by the tragic events at the Astroworld Festival, we are postponing the launch of the Air Max 1 x Cactus Jack,” Nike said in an email to users of its SNKRS app on Monday.
Nike had promoted the upcoming shoe drop at Scott’s concert, which took place at Houston’s NRG Park, ahead of the planned December release.
Scott’s limited-edition line with Nike, which is hyped for months prior to each release date, often sells out quickly when made available to the public.
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Travis Scott Has Become Corporate America’s Go-To Pitchman
The rapper has partnered with an unusually diverse array of brands to churn out everything from food to apparel to toys and more. The result is an entire economy of highly sought-after Scott-branded products, giving companies a ready-made way to generate hype and reach young consumers.
Richemont, owner of jeweller Cartier, said on Wednesday it would not inject any cash into online luxury retailer Farfetch, following a report that the latter was exploring going private.
Consumer spending over Thanksgiving Weekend may have exceeded expectations, but shoppers may be stretching their wallets too thin, analysts say.
A small but growing online fashion community is practising a more critical form of consumption, marrying the quiet luxury trend with a desire for value and environmentally responsible products.
With consumers expected to buy less this holiday season, categories poised to outperform the industry include off-price and personal care. But brands can still appeal to shoppers by conveying a sense of value, whether through discounts or a point of differentiation.