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.
It’s been a week since the enormous cargo ship that blocked one of the busiest trade routes in the world was released, but it will likely be months before supply chain patterns recover.
The six-day disaster caused a delay for about 370 ships. Europe’s supply chain is expected to be hit the hardest, but several brands in the US, including PVH Corp and Walmart, will also experience shipping setbacks, according to a report from S&P Global Market Intelligence.
Stefan Larsson, chief executive officer of PVH Corp, told investors in a call last week that the company was anticipating “minimal impact” from the Suez Canal disruption, but added that the company’s “actual 2021 results could differ materially from our current outlook as a result of the occurrence of any of the uncompensated events.”
The category’s biggest brands by market capitalisation report results this week, and will need to show they have a plan to fend off fast-growing competition.
By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.
The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales seem to keep ticking up.
The fashion resale company finally became profitable last year, but it was at the cost of losing consignors who complain that reselling is no longer as lucrative as it once was on the platform.