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 sportswear giant is the latest company to expand into the circular economy with its products.
Nike announced Monday that with Nike Refurbished, it would take back shoes that are “like-new, gently worn and slightly imperfect.” The company will fix them up and then sell them at a discounted rate to new shoppers. The program will be available in 15 stores in the US, with plans for expansion later this year.
Nike footwear has long been a powerful commodity in resale. Bringing a refurbish program in-house will help Nike see some of the profits that have gone to marketplaces like Fight Club. But the company isn’t offering a reward to shoppers for participating in the program the way brands like Madewell give shoppers $20 credit for bringing in old pairs of denim.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.