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.
digitisation
Technology
The BoF Podcast | Robert Triefus on Leading Gucci Into the Metaverse
At The BoF Professional Summit: An Inflection Point in Fashion Tech, the seasoned luxury executive explained why Gucci believes in the long-term potential of fashion and web3.
Technology
Snap Offers AR Shopping Product for Retailers’ Websites
Snap Inc., the parent company of video-messaging app Snapchat, is adapting the augmented reality technology behind its popular filters and lenses — tools that can add glittery makeup or cartoon eyes to someone’s video selfie — to help retailers use AR on their own websites and apps.
Retail
Inditex Invests in Tech to Speed Future Sales
Zara owner Inditex said its Spring/Summer 2023 collection flew off shelves over the last six weeks but shares in the world’s biggest fashion retailer fell after it flagged higher spending on technology and automation.
Technology
How Next-Generation Technology Is Shaping Fashion’s Future
What You Will Learn at Our Technology Summit; Final Agenda & Speakers Announced
Technology
The BoF Podcast | How Generative AI Could Reshape Fashion
BoF’s technology correspondent Marc Bain joins Imran Amed to discuss Silicon Valley’s latest craze, and its potential for the fashion industry.
Sustainability
Is Luxury Set for Resale-Ready Products?
Chloé is set to become the first major luxury fashion brand to road-test digital product IDs that contain detailed information about the authenticity and eco-credentials of individual items and allow for easy resale via Vestiaire Collective.
Technology
The BoF Podcast | Humanity in the Era of the Rise of the Machine
Author and tech executive Mo Gawdat explores the arrival of artificial intelligence and how it will eventually affect everyone.
Luxury
Rethinking Luxury’s Distribution Strategy
Luxury brands and retailers’ business models and channel strategies are undergoing deep shifts, both online and off, as they adjust to new customer behaviours, reports The State of Fashion 2023.
Direct-to-Consumer
The Year Ahead: The DTC Reckoning Is Coming For Fashion
Mounting digital marketing costs and e-commerce readjustments have put the viability of pure direct-to-consumer business models into question. The State of Fashion 2023 reveals that most brands will need to diversify their channel mix beyond DTC to generate growth.
Technology
The Best of BoF: Technology’s Tumultuous Year
In 2022, NFTs were down but not out, TikTok was up and AI took an even bigger role in fashion businesses. Explore BoF’s coverage of these and other year-defining trends like the effort to give every clothing item a digital identity and the shopping habits of the crypto wealthy.
Retail
The Year Ahead: Can New Production Models Help Fashion Overcome Supply Chain Woes?
As supply chains remain under pressure, garment manufacturers have an opportunity to lean into vertical integration, nearshoring and small-batch production, while seeking closer upstream and downstream collaboration, according to The State of Fashion 2023.
Global Markets
Capturing Fashion’s Growth Potential in the Middle East
Brands will need to sharpen personalisation to remain attractive to the Middle East’s “increasingly assertive” shoppers, says the Dubai-based luxury group’s president in this State of Fashion 2023 interview.
The News in Brief
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.
P&G Beats Revenue Estimates, Flags Bigger Hit to Annual Profit
The maker of Pantene shampoo was helped by strong personal care demand, but expects higher commodity costs to reduce profit by about $1.4 billion this year.