Brands have begun seeking out alternative channels to offload inventory. They include quietly shipping products to resale platforms, striking deals with marketplaces that don’t require big inventory orders and linking with one of the new platforms that have cropped up with the sole intention of making use of the unsold...
In Tapestry’s fourth quarter earnings call on Thursday, interim CEO Todd Kahn (stepping in for Jide Zeitlin, who resigned in July) shed some light on the company’s customer acquisition strategy, particularly how it has attracted young consumers and Gen Z. Kahn attributed the majority of the audience growth in the...
The Black Lives Matter protests have forced many brands to do some soul searching in the last few months, with many reckoning with an ongoing lack of diversity and visibility for people of color. While Faherty’s efforts to improve its own product catalog predate the protests, they represent a model...
Brands like Ralph Lauren and Michael Kors have sold through WeChat for years, and they also use WeChat to advertise and relay information to Chinese consumers. WeChat Pay is accepted at many U.S. stores. Every Fendi store in the country accepts WeChat Pay, as do Rebecca Minkoff, Macy’s, American Eagle and...
Retailers are now focused on making their stores as safe as possible, offering customers maximum choices for how to engage and incorporating the online components of retail into brick-and-mortar to improve efficiency.
The pandemic has had a deadening effect on consumer spending, thanks in part to millions of people losing their jobs or being furloughed. But the wealthiest customers are continuing to spend, particularly on high luxury items with sentimental value, and fine jewelry has proven to be a resilient fashion category.
When Lord & Taylor filed for bankruptcy on Sunday, along with its owner Le Tote, it became the latest in a long line of department stores recently reporting bad news. The pandemic has only hastened what was already becoming clear: The era of the department store is on its way...
The platforms are working to get more brands, especially newer ones, using their tools, facilitate wholesale relationships and assist in revitalizing wholesale at large, said Heath Wells, co-founder of online wholesale marketplace NuOrder.
There’s a combination of factors at play for why reopened stores haven’t translated to restored sales. Kering’s CFO Jean-Marc Duplaix said it was due to a lack of travel to Western Europe, which normally accounts for 65% of sales in that region.