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.”
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.