Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
San Francisco, United States
Retail
Beyond Disruption: Everlane’s Next Chapter
After public scandal threatened its ethical image, CEO Michael Preysman believes the L Catterton-backed disruptor can still win on radical transparency even as competitors lay claim to the sustainable fashion space.
Retail
Amazon Go Rival Bets Pandemic Bolstered Case for Cashierless Shopping
A start-up selling Amazon Go-like checkout technology to retailers has raised money from investors at a $1 billion valuation, minting a new unicorn a year into a pandemic that has helped bolster the case for automated checkout.
Retail
Gap Looks at Closing Stores in Some European Countries
The retailer to is hoping to save cash while dealing with a sales slump brought on by the pandemic.
Partner Content
How Shared Values Forged an Olympic Partnership at Athleta
Athleta and US Olympian Allyson Felix’s partnership is rooted in shared internal values that reflects the brand’s commitment to forwarding female empowerment.
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Retail
Gap Reports Surprise Rise in Comparable Sales Fueled by Online Demand
Analysts had forecast a 20.97 percent fall in comparable sales, but the company reported a 13 percent rise.
Technology
WeChat Users Sue to Block Trump’s Ban of Messaging App
The group of lawyers claim Trump’s 'vaguely worded' executive order violates WeChat users’ free speech and due process rights.
Retail
ThredUp Plans IPO Early Next Year
The secondhand fashion e-tailer could raise between $200 million and $300 million, people familiar with the matter said.
Beauty
Report: DTC Wellness Brand Hims Seeks Deal to Go Public
The healthcare brand is exploring the potential deal through a merger with a blank-check acquisition company that could value it at more than $1 billion.
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Retail
Levi Strauss Warns of Weak Sales Growth in Second Half of 2020
The denim brand reported a 62 percent drop in net revenue in the second quarter and said it will cut 700 jobs in order to save $100 million annually.
Retail
Gap Taps Into the Surging Corporate Demand for Face Masks
The US retailer has sold around 10 million of the non-medical grade face masks and requires a minimum of 100,000 masks per order.
Retail
Can Kanye West Save Gap?
The controversial and influential entertainer and designer will bring his Yeezy collection to Gap in a co-branded line of apparel in 2021.
Retail
Gap's Quarterly Sales Down 43% on Coronavirus Hit
Net loss came in at $932 million, or $2.51 per share, for the three months ending May 2.
The News in Brief
Nike, Patagonia and Lululemon Join Group Battling Microfibre Pollution
Global environmental non-profit The Nature Conservancy has launched a new industry coalition to help apparel companies tackle microfibre pollution across their supply chains.
Meta Bans Ads From TikTok on Its Apps
The policy bars ads from ByteDance, which remains in charge of key parts of TikTok, and extends to third-party advertisers running campaigns that link to TikTok.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Zankov Appoints Its First CEO
Jack Tobin is joining Diane von Furstenberg artistic director Henry Zankov’s namesake label as CEO and part owner.
LVMH, Kering Update Model Safety Guidelines
Nearly a decade since the luxury groups first published a charter of model protections, they are introducing new measures to protect those working in the industry.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.