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.
The author has shared a YouTube video.
You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future.
NEW YORK, United States — For the latest in our series of #BoFLIVE events, Executive Editor Lauren Sherman connected with BoF correspondents Zoe Suen, Tamison O’Connor and Cathaleen Chen to reflect on what’s next for retail as brick-mortar stores from China to Europe to the US resume operations.
As lockdown measures begin to ease across the globe, many brands are looking to China for signs of recovery, with predictions of "revenge buying" spurring cautious optimism among business owners. China's 618 shopping festival and adoption of vouchers have stimulated consumption in the post-pandemic recovery period.
“The level of caution is a lot higher in Beijing, but in other cities people are really trying to get back to normal life,” said Suen.
However, in the US and the UK, the economic fallout of the pandemic paints a slightly different picture for the future of retail, where bankruptcy filings are on the rise and the financial challenges faced by stores pre-Covid-19 have been exacerbated. Companies are now doubling down on their e-commerce offering as a means of attracting consumers, many of whom remain cautious about visiting shops.
“I think the British high street is going to look very different over the next few months and possibly a couple of years,” O’Connor said. “This very traditional approach to retail that a lot of British brands have stuck to is not working anymore… there will probably be some consolidation and there will have to be some innovation as well.”
To participate in #BoFLive, BoF’s digital events series offering insight, advice and inspiration, visit our calendar where you can find details of upcoming digital events.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.