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.
Brick-and-mortar retailers in the country saw sales plummet as far as 70 percent since the onset of the pandemic, reported CNBC. Singapore re-introduced tighter Covid restrictions — including limitations of public gatherings and prohibition of dine-in service — this week as the number of new infections continue to climb. On Friday, the government introduced a new support package worth 1.1 billion Singapore dollars ($808 million) to aid businesses impacted by the restrictions, which included assistance in moving local retailers to online channels, according to CNBC.
Further Reading: Will Singapore Win Asia’s Start-Up Race?
Singapore’s fashion start-up scene is abuzz with innovation and plucky entrepreneurs, but agility, adaptability and scale are necessary to succeed in the growing Southeast Asian market.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
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.