On the 10th of this month, Tapestry, Inc., owner of brands such as Coach, Kate Spade, and Stuart Weitzman, made headlines when it announced that it would acquire Capri Holdings, owner of fashion brands such as Michael Kors, Versace, and Jimmy Choo, for approximately $8.5 billion.
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On August 24, Shein, the E-commerce giant known for ultralow prices, announced a partnership with the SPARC Group, the US parent company of Forever 21.
The popularity of SKIMS, the apparel brand co-founded by Kim Kardashian, continues unabated. In just four years since its founding, the brand has quadrupled its valuation to become a unicorn company.
This fall, UNIQLO will debut a new women’s line, UNIQLO: C.
Peter Do, a brand synonymous with quiet luxury will collaborate with Banana Republic to launch an exclusive capsule collection in October.
On August 9, synthetic biotechnology company Amyris, Inc. filed for bankruptcy in the U.S. Bankruptcy Court in Delaware.
Last April, luxury marketplace Farfetch made a splash with its entry into the beauty sector. However, the company has recently been facing difficulties in running its beauty division, and industry insiders are reporting that Farfetch’s beauty division may be shutting down.
Tapestry, the parent company of Coach, is acquiring Capri Holdings, which owns fashion brands such as Michael Kors, Versace, and Jimmy Choo. The purchase price is approximately $8.5 billion.
Leading sports apparel brand Nike has announced plans to partner with FitLab, an integrated operating company of performance lifestyle brands, to open group fitness studios called Nike Studios later this year.
Since the pandemic, consumers’ expectations of physical stores have changed dramatically. In recent years, it is no exaggeration to say that having the right technology tools in stores is an “indispensable prerequisite” for improving the convenience of stores.