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.”
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
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.