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.
Just four months after the Japanese retail giant surpassed the Spanish fast fashion behemoth to nab fashion’s highest market capitalisation, the tables have turned, Nikkei Asia reports.
Fast Retailing’s market cap was just over 8.7 trillion yen ($79.4 billion) as of Wednesday, lagging far behind Inditex’s value of 100 billion euros ($121 billion).
When Fast Retailing last outpaced Inditex in February, the Asian markets were recovering more rapidly than those in the West; now, sluggish vaccine rollouts in countries like South Korea and Japan have become a stumbling block for Uniqlo, while swifter programmes and re-openings in markets like the US and UK are boosting sales for Inditex.
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.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.