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.
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In-depth analysis of the business, strategy, and economics shaping the global fashion and luxury industries. Covering conglomerates, market trends, startups, retail strategy, and the people driving the business of fashion.
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.
On July 27, Kering announced that they will acquire a 30% stake in Valentino from Qatari investment firm Mayhoola, the parent company of Valentino, for a cash consideration of €1.7 billion.
On July 20, Bloomberg reported that Adidas is trying to force Kanye West (Ye) to return $75 million in marketing funds that he states”mishandled”.
The Global Fashion Summit, the world’s largest fashion sustainability event, was held in Copenhagen from June 27-28. The event was attended by major conglomerates including LVMH and PVH, innovative startups such as Hilos and Circulose, charities like the Or Foundation, and prominent policymakers from Europe and the US.
Savage X Fenty, the lingerie brand co-owned by popular singer Rihanna and other investors including LVMH, has announced the appointment of Hillary Super as its new chief executive officer and director.
On May 18, the Wall Street Journal reported that Shein, China’s leading fast fashion brand, has raised $2 billion in funding at a valuation of $66 billion.
On May 15, VICE Media filed for Chapter 11 bankruptcy protection and announced its bankruptcy. According to documents filed with the court by the company, the total debt is reportedly estimated at up to $1 billion.
Glossier partners with major beauty store, Sephora to revive the brand
Glossier in decline, fired 27 employees
Social media-born New York-based makeup brand “Glossier” is undergoing changes because of its inefficiency to keep up with evolving beauty industry.
Glossier laid off 24 employees on August 2nd, 2022. They also plan to add about 20 new employees, including leadership levels in the second half of this year as it transitions to an omnichannel model with major retailers in the United States and Canada.