Wexner Owns Just 2 Percent of L Brands After $2.7 Billion Selling Spree

Wexner Owns Just 2 Percent of L Brands After $2.7 Billion Selling Spree

Les Wexner spent more than five decades building the apparel business he founded with a $5,000 loan from his aunt into one of the world’s biggest fashion retailers. Now, in just a matter of months, the Ohio billionaire has almost completely severed his ties with L Brands Inc., the owner of Victoria’s Secret and Bath & Body … Read more

Italian luxury fashion brand Zegna to go public in $3.2 billion SPAC deal – FT

Italian luxury fashion brand Zegna to go public in $3.2 billion SPAC deal - FT

Plywood covers the windows of an Ermenegildo Zegna store in Chicago, Illinois, U.S. October 13, 2020. Chicago police have warned local retailers to prepare for possible protests around Election Day. Picture taken October 13, 2020. REUTERS/Moe Zoyari/File Photo(Reuters) – Italian luxury fashion group Ermenegildo Zegna has agreed to go public by combining with a special-purpose … Read more

Fashion king, Bernard Arnault earns $55.5 billion in barely half a year

Fashion king, Bernard Arnault earns $55.5 billion in barely half a year

Europe’s richest man, Bernard Arnault, currently has a net worth of $170 billion according to data from the Bloomberg billionaire index, revealing the French billionaire has earned $55.5 billion since the start of this year, as the global economy recovers relatively from COVID-19.Bernard Arnault, the world’s third-richest man is the Chief Executive Officer of LVMH, … Read more

US Apparel Imports Ballooned 141 Percent to 2.28 Billion SME in May – Sourcing Journal

The surge in U.S. apparel imports continued in May, as retailers and brands restocked to meet strong consumer demand, OTEXA data shows.

The surge in U.S. apparel imports continued in May, as retailers and brands restocked to meet a strong return of consumer demand, with every major and secondary producer nation taking part in the upswing. While monthly and year-to-date comparisons are skewed by last year’s Covid-caused lockdown and store closures, the increases are still substantial. U.S…. … Read more

The true cost of online shopping, EU to see 35 billion euros in reduced profits

The true cost of online shopping, EU to see 35 billion euros in reduced profits

Covid-19 has profoundly impacted retail industries across Europe. The enforcement of store closures, social distancing measures and heightened anxieties over viral transmission has elevated ‘digital’ to new heights across the entire customer journey, according to a report by Alvarez & Marsal (A&M), a leading global professional services firm that provides advisory, business performance improvement and … Read more

Oros Fuses Space-Age Science And Fashion In The $240 Billion Sports Apparel Market

Oros Fuses Space-Age Science And Fashion In The $240 Billion Sports Apparel Market

“Imagine a technology that allows a consumer to wear a long-sleeve shirt that will keep them warm in … [+] sub-freezing temperatures,” says Michael Markesbery, CEO Oros Apparel. Photo by Nicole Schmiedl for Oros The fashion industry got a forced makeover due to the pandemic. As an industry that thrived on newness and delivering styles … Read more

From Dr Martens to Ralph Lauren, Lawsuits Are Starting to Build for $15 Billion Ultra-Fast Fashion Brand Shein

From Dr Martens to Ralph Lauren, Lawsuits Are Starting to Build for $15 Billion Ultra-Fast Fashion Brand Shein

Last month, Shein brought “Amazon’s 152-day streak as the most downloaded shopping app in the U.S.” to a halt, Bloomberg reported this week, in what it calls “a remarkable feat” for any budding clothing brand, “let alone one most Americans over 30 still have not heard of.” The rise of the Chinese fast-fashion retailer has been quiet, … Read more

Fashion Retailer About You, Holders Seek $1.1 Billion in IPO

Fashion Retailer About You, Holders Seek $1.1 Billion in IPO

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.E-commerce fashion retailer About You AG and its shareholders are seeking as much as 941 million euros ($1.1 billion) in a Frankfurt initial public offering, betting that demand for its party outfits will ramp up as night life unlocks. … Read more

Etsy Snaps Up British Fashion App Depop For $1.6 Billion

Etsy Snaps Up British Fashion App Depop For $1.6 Billion

British fashion resale app has become a cult favorite with Generation Z and will be acquired by Etsy in a $1.6 billion deal. Dave Benett/Getty Images for Depop Etsy will acquire Depop, a British fashion resale marketplace that has become a cult favorite for Generation Z shoppers, in a $1.6 billion all cash deal. The … Read more

Rent the Runway enters $33 billion fashion resale market

Rent the Runway enters $33 billion fashion resale market

Jennifer Hyman, Rent the Runway Scott Mlyn | CNBCRent the Runway said Wednesday it is expanding into resale, a major evolution for the fashion rental platform. Customers will soon be able to buy used designer clothes from the business in addition to renting them. No membership will be required, as Rent the Runway looks to broaden … Read more

Etsy is buying fashion resale app Depop for $1.62 billion

Etsy is buying fashion resale app Depop for $1.62 billion

Josh Silverman, CEO of Etsy.Adam Jeffery | CNBCE-commerce firm Etsy announced Wednesday that it is buying the second-hand fashion marketplace app Depop for $1.62 billion as part of an effort to reach a younger audience.Founded in the U.K. in 2011, Depop claims to now have approximately 30 million registered users across 150 countries. The online … Read more