Big brands are seeing declining wholesale revenue Canada Goose saw its wholesale revenue decline 18% in the first quarter of 2023, reported on August 3. Under Armour saw a global wholesale decline of 6% in the same quarter, as reported on August 8. Fossil saw a 13% decline in wholesale revenue, per its August 10 earnings report....
Fashion Briefing: The Rihanna effect is still boosting maternity fashion When Grammy-winning singer Rihanna revealed her pregnancy during this year's Super Bowl halftime show, she became an instant maternity influencer. This week, her lingerie brand Savage x Fenty leveraged that influence, launching its first maternity capsule. Centered on bras made to be convenient for breastfeeding, the included styles feature the...
Week in Review: Allbirds struggles, Victoria’s Secret brings back old models, British stylists unionize This week, we talk about Allbirds struggling to stay on top of its declining sales, Victoria’s Secret going back to its old self with iconic models from its past and British celebrity stylists unionizing.
Despite slow adoption, mushroom leather isn’t dead yet Who says there’s no interest in mushroom leather? MycoWorks, a material science company that develops mushroom-based alternatives to leather, announced on August 8 that it will open the world’s first commercial-scale manufacturing facility focusing specifically on Fine Mycelium, the core ingredient in MycoWorks’ leather alternative material, Reishi.
ThredUp’s resale-as-a-service business will turn it profitable this year While ThredUp has lost some of its users over the last year, its revenue has grown by a healthy 8% year-over-year in the last quarter, according to its second-quarter earnings report on August 8. That revenue growth is, in large part, thanks to its booming resale-as-a-service business where it provides...
Weekend Briefing: Kering’s acquisition spree continues with Valentino deal Last week, Kering announced that it had bought 30% of Valentino with an option to buy the rest within the next five years. Meanwhile, Prada showed strong earnings but slow sales in the U.S. But that’s nothing compared to the current slump of retail sales in the U.K.
Fashion Briefing: The Women’s World Cup is drawing fashion brands to soccer The Women’s World Cup, taking place from July 20 to August 20 in New Zealand and Australia, has wrapped its first week. The tournament is one of the biggest women’s sporting events in the world, and soccer is by far the most popular sport globally. Fashion brands, always eager to...
- Week in Review: LVMH earnings, Mattel president joins Gap, Shein’s legal troubles
On this week’s episode, we talk about LVMH’s earnings and how all of its advertising expenditures are impacting the bottom line. Plus, Mattel president Richard Dickson joins Gap as its new CEO, and Shein is juggling various lawsuits.
Caraa’s Aaron Luo: ‘We let the product take center stage’ Aaron Luo launched the DTC bag brand Caraa in 2015 alongside CFDA Award-winning designer Carmen Chen Wu. Now, eight years into the brand’s life, Luo has another brand under his belt — Mercado — and a new perspective on how DTC brands can grow and be successful in the modern...