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.
In response to the surge in online shopping in the days after Thanksgiving, United Parcel Service Inc. told its drivers to halt picking up new packages from six retailers including Nike and L.L.Bean, the Wall Street Journal reported Wednesday morning.
UPS and other carriers like FedEx and USPS are all stretched thin this year as e-commerce exploded in growth in the wake of the pandemic, during which consumers have avoided in-person shopping.
“UPS continues to work closely with our largest customers to steer volume to capacity and ensure the UPS network is reliable for all customers,” the parcel service told BoF in an email statement. “This collaboration includes specific capacity allocations last weekend and throughout the holiday season.”
It added that it will work with its retailer clients to pick up the turned away packages once capacity eases.
Online sales increased 44 percent over the five-day period between Thanksgiving and Cyber Monday, according to the National Retail Federation.
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.