Audemars Piguet to Certify Its Pre-Owned Watches Following Rolex
Whereas Rolex is both a buyer and seller of its second-hand watches through official retail partners, Audemars is setting up a marketplace where sellers set prices.
data
Retail
The Year Ahead: Consumers to Reboot Wardrobes for Post-Pandemic Life
Consumers will reallocate wallet share across fashion categories as pent-up demand for newness intersects with more social freedoms. Companies should prepare for this shift by honing data-driven product development and adjusting their inventory mix.
Technology
The Year Ahead: What Product Passports Will Do for Brands
Brands are adopting new technologies that store and share product information to improve authentication, provide transparency and boost consumer trust. However, for “product passports” to truly gain traction, businesses must coalesce around common standards and engage with pilot projects at scale.
Technology
The Year Ahead: Shoring Up Fashion’s Cyber Defenses
Businesses face more threats than ever of cyber attacks and improper data handling. Fashion players must urgently improve their defenses and make digital security a strategic imperative.
Retail
Making Sense of This Year’s Black Friday Sales
Consumers began shopping for gifts earlier than usual this year, leading to a lacklustre Thanksgiving weekend — but likely stronger holiday spending overall.
Technology
Inside Adidas’ Billion-Dollar Digital Transformation
The German sneaker giant is investing for a new era of tech-enabled retail in a bid to close the gap with Nike.
Technology
Can Levi’s Turn Regular Employees Into Data Scientists?
Levi’s is aiming to turn employees in roles across the company from AI novices to capable practitioners as it seeks to weave data science throughout its business.
Luxury
European Luxury Stocks Slide on China Stagflation Concerns
European luxury stocks were the top decliners in London, Paris and Milan on Wednesday after data showed China’s factory inflation jumped in October, heightening stagflation concerns in the country, a top buyer of high-end products.
Workplace & Talent
Can Fashion Compete with Tech for Executive Talent?
With some of the industry’s top executives flocking to tech giants like Google and Slack, it’s going to take more than a sleek office and brand cache to bring them back.
Retail
Why Price Inflation Is Coming to Fashion
Apparel prices are rising at their fastest pace in years, as the cost of everything from cotton to container shipping soars. BoF lays out how to seize the opportunity to break a decade-long cycle of discounting.
Retail
Neiman Marcus To Acquire Retail Platform Stylyze
The deal, to be finalised in 2022, is part of a wider digital strategy that includes $500 million in investments over the next three years.
Technology
New Resale Start-Up Sees Data as the Answer to Courting Luxury Brands
From the creator of shopping app Fancy, the Archivist allows brands to monitor resale activity from 150 platforms that sell preowned fashion.
Technology
Where VCs Are Placing Their Bets
Financiers are pouring money into e-commerce businesses at a record rate, anticipating new pandemic-driven opportunities.
The News in Brief
Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.