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.
youth-culture
Luxury
Dissecting Luxury’s Love for Streetwear
Signs of streetwear’s importance to the luxury business model were everywhere this week, from Virgil Abloh’s last collection for Louis Vuitton to LVMH’s Aimé Leon Dore deal to Bally’s appointment of Rhuigi Villaseñor.
Sports
Why Luxury Wants in on Mystery Boxes
LVMH’s venture arm joined the seed funding round of start-up Heat, which has tapped into Gen-Z’s appetite for social commerce and resale by selling surprise selections of high-end products.
Sports
Priya Ahluwalia on Changing the Fashion Narrative
The London-based designer has won recognition for her vibrant designs patched together from vintage clothes. Now she wants to grow her business without sacrificing its core values.
Luxury
Virgil Abloh’s Blueprint for Black Advancement
The late designer identified with the Black condition and set about designing not just products but a better future, writes Jason Campbell.
Retail
Boohoo Falls to Five-Year Low as Shoppers Return More Party Wear
Sales growth will be no more than 14 percent, down from an earlier projection of as much as 25 percent, Boohoo said Thursday.
Technology
The Year Ahead: Building Brands With a Metaverse State of Mind
By experimenting with NFTs, gaming and virtual fashion, brands will unlock value streams in the metaverse that engage young consumers and will find new routes to creativity, communities and commerce.
News & Analysis
The State of Fashion 2022: Global Gains Mask Recovery Pains
The sixth annual State of Fashion report by The Business of Fashion and McKinsey & Company forecasts that the global fashion industry will find its feet again after nearly two years of disruption, though supply chain headwinds will threaten growth prospects. Download the full report to understand the 10 themes that will define the industry in the year ahead and how to navigate the currents they create.
China
A New Era for China’s $15 Billion Streetwear Market
Luxury brands, local labels, major exhibitions and digital platforms are driving a more complex and increasingly fragmented streetwear sector in China.
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.