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.
Fashion
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.
Rakuten Fashion Week Tokyo 2024 Spring/Summer will be held for six days from Monday, August 28 to Saturday, September 2.
Peter Do, a brand synonymous with quiet luxury will collaborate with Banana Republic to launch an exclusive capsule collection in October.
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.
On August 4, Gap announced its collaboration with LoveShackFancy. A total of 76 capsule collections will be available in stores and online.
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.