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.
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.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.