The German company PUMA has returned to Fashion Week 2022 with famed stylist June Ambrose (who was named designer and creative director last year) running the show at Cipriani’s in New York, the Futrograde show. Among PUMA’s re-imagining of old and new street wear there was also the collaboration capsule’s like Dapper Dan. Dan’s convergence of high fashion and sportswear, which Dapper Dan said: “the best thing that could’ve happened to fashion.”
“It’s just an incredibly important moment for us for so many different reasons,” said Adam Petrick, chief brand officer of Puma. “Returning to fashion week for the first time in several years is significant because we knew we needed the right combination of factors to be present. With an emphasis on digital, a great lineup of ambassadors and an amazing creative partner in June Ambrose, the foundation and creativity for a great show are there.”
The end of July 2022 PUMA’s second quarter sales earning jumped 18.4 percent, more than 2 Billion Euros.
Chief brand officer Adam Petrick said: “So we’re going to look at our values and core principles, which is sports first. Sports never goes away. It’s something humans love and need, whether it’s the competition or the fitness or just the general health aspects. It’s absolutely not recession-proof, but it’s certainly something that we can count on as continuing to be interesting to our consumer.”
The German brand also launched a parallel Metaverse fashion show experience called Black Station that has exclusive NFTs which are redeemable for a limited-edition physical sneakers. Black Station connects consumers with various web3 activations slated to emerge over the coming years.
The fashion brand owners of Karl Lagerfeld have sold the majority stake to G-lll Apparel Group Ltd. for 200 million euros ($210 Million) paying in cash. G-lll purchased 81% of Karl Lagerfeld’s brand from a group of private and public investors headed by Fred Gehring of Amlon Capital, in addition to the 19% stake brought in 2016 while forming a North American joint venture in 2015. The apparel group also owns Donna Karen.
The buyers anticipate retail sales of the brand could reach over $2 billion. Hun Kim (former Tommy Hilfiger designer) is now head of design, along with Carine Roitfeld and Amber Valletta to create collections. Pricing is considered “Affordable Luxury” with a mid-tier price point.
Included in the deal G-lll will also acquire the 10% stake in it’s China joint venture with global expansion and ramped up licensing deals.
A Paris judge on December 17th approved a 10 Million Euro (11.27 million) settlement, offered by prosecutors to LVMH owned by Bernard Arnault, the world’s third-richest person according to Forbes magazine that shuts down a criminal probe in the luxury group’s role in a “spying” case which involves the ex-top boss of France’s security services.
“This ruling infuriated François Ruffin, a journalist, filmmaker and leftwing politician who made headlines in 2016 with “Merci Patron!” (Thanks Boss!), a film that skewered Arnault as a heartless tycoon impoverishing the French working class.”
Ruffin filed a lawsuit in 2019 claiming that LVMH contracted the former head of France’s DGSI domestic intelligence agency, Bernard Squarcini, to spy on him for almost three years while filming the movie, that won a Cesar (the French equivalent of the Oscars) as best documentary in 2017. Ruffin had requested the court to refuse the settlement, saying 10 million euros was just 0.02 percent of the nearly 45 billion euros in revenue last year for LVMH.
“Can justice be bought so cheaply? The answer is yes,” Ruffin told journalists after the hearing Friday. It’s a blank check for all future spying operations by multinationals. All LVMH had to do was pay to get out of the proceedings.”
Quiet Logistics a third party supplier chain for over 50 customer direct brands which utilizes a hybrid of human and robotics capabilities. With eight fulfillment centers, and based in Devens, Massachusetts creating inventory efficiencies and providing affordable same-day and next-day delivery options to customers and stores.
Quiet Logistics was acquired this month by American Eagle Outfitters in a all cash deal for $350 million this month. This deal follows a May acquisition of Airterra a delivery start up.
During Milan Fashion Week 2021, Gucci launched it’s Vault Vintage e-commerce web site offering refurbished Gucci products, as well as capsule collections by new young designers. Gucci Vault, which is a continuation between the brand and independent young designers from 2020’s GucciFest. The festival in 2020 (which replaced it’s runway shows) resulted in a 25% increase in Gucci’s revenue’s in the first quarter of 2021.
“The Gucci Vault expands on the Gucci universe in an online space and gives the stage to restored vintage pieces and exclusive items from almost all of the 15 designers originally featured in the festival. The lineup consists of Ahluwalia, Shanel Campbell, Stefan Cooke, Cormio, Charles de Vilmorin, JordanLuca, Yueqi Qi, Rave Review, Gui Rosa, Bianca Saunders, CFDA/Vogue Fashion Fund finalist Collina Strada, Boramy Viguier and LVMH prize finalist Rui Zhou.” The Gucci Vault is “speaking to the belief that past, present and future can co-exist through the power of the imagination.” The brand said in a statement.
There next show will be in Los Angeles on Nov 2nd, which will run parallel with the 10th LACMA Art & Film Gala that Gucci is also sponsoring.
This continuing trend of “Big Brand” conglomerates is breathing new life (and revenue) to the large fashion brands after the post pandemic slump.
The Luxury fashion retailer FarFetch is taking on the huge sustainability issues the industry faces, by launching a pre orders service that allows customers to buy from designers before they are on the shelves. The pre order initiative will launch with brands like: Oscar del la Renta, Off-White, Balenciaga and Khaite, in an effort to reduce fashion waste.
The first pre order’s clothes are already made, however the idea is (for the long term) is to offer pre-production so that brands may make only enough clothes that is desired, and by effect reduce waste.
A total of ten brands have joined Faefetch in this sustainability push, and more brands will be on board monthly as for many brands this will be their first time jumping in the pre-order arena.
In an effort to capture a more younger and diverse set of customers, LVMH has given the rapidly rising fashion designer Virgil Abloh a huge role in creating new business segments and fashion brands for major expansion!
This exciting agreement has LVMH buying a majority stake (60%) of the street wear brand Off White for a price that was not disclosed. Abloh will also continue to serve as creative director of Louis Vuitton Menswear line.
This partnership is herald’s a new generation of “Luxury Masterminds” as the luxury industry embraces more and more black artists and designers.
The fast fashion world…..or should I say, Ultra Fast Fashion has just been taken over by SHEIN! While not a household name SHEIN (which is rapidly about to change) has taken the lead of the online (Ultra!) Fast Fashion scene.
Solely focused on targeting GEN Z with laser beam accuracy, SHEIN has become the most installed e-commerce shopping app in America! The company is based in Nanjing and was founded in 2008, attracting Gen Z shoppers with TixToK and Instagram influencers along with almost endless discount codes to become a $15 Billion Fast Fashion Empire, uploading hundreds of new products each week.
The publicity shy ultra fast fashion king has made it clear that it’s ready to take on Main Street after a very suprisingly potential bidder for failing U.K. fashion company Arcadia (which failed), and is known to buy out it’s competition. SHEIN has taken the lead in the global fast fashion arena and does not seem to be slowing down, despite also being routinely criticized for copying designs from indie designers.
On March 25th 2021 Gap Inc. announced that it will be selling it’s children wear brand Janie and Jack which includes about 115 brick and mortar stores along with it’s e-commerce site. The luxury children’s brand was purchased by Gap for $35 million in 2019 from Gymboree Group.
The “brand investment platform” Go Global Retail is set acquire Janie & Jack, but the price of the purchase has yet to be announced with a closing date of April 2nd 2021.
Gap Inc. announced in late February that they will invest $140 million on a distribution center in Longview Texas, with construction to start in April 2021. The 850,000 square foot facility will create a projected 500 full time jobs in Longview by 2023, and is expected to increase to 1,000 jobs over five years with plan to double online sales within two years.
The 850,00 square foot facility will be capable to process 1 million packages a day will start processing orders for Old Navy at first, and then will gradually service the other segments of the business, such as Banana Republic and Gap online orders as they close 30% of the Gap and Banana Republic brick & mortar stores.
Chief Operating Officer, Shawn Currin of Gap Inc said: “As we look to deliver on our three-year strategy and double our online business, we needed to expand our fulfillment network to provide a great experience for our customers today and ensure we have the ability to grow in the future.”