Amid store closures, Farfetch is working to keep its boutique partners afloat Farfetch, being an online luxury marketplace, may not be suffering from the same closures as brick-and-mortar stores, but the hundreds of small boutiques that make up much of Farfetch's business are. And when they suffer, Farfetch suffers, too.
The New Athletes: Professional esports players are becoming style icons Just like many other sports leagues, the players in the world of esports have become celebrities themselves, some of whom with hundreds of thousands of followers on social media. These players, who command massive influence among their devoted young fans, have become valuable selling points for fashion and apparel, scoring...
Luxury braces for a global recession When the 2008 recession hit, the global luxury market lost 9% of its value, luxury department stores took a major hit to sales, and luxury as a concept became distasteful as thousands of people lost their jobs and homes. So if another recession is coming, what effect will it have...
Retailers seek rent relief from landlords, but negotiations are tense Across the U.S., fashion brands are shutting down their stores as numerous states have issued orders for people to stay indoors and avoid large gatherings. To avoid the inevitable massive hit to sales that closing stores will have, some brands are negotiating with their landlords for reduced rent and other...
As retail sales grind to a halt, brands weigh the pros and cons of discounting Retail is in a tough position. With a vast swathe of the U.S. stuck at home and retail stores closed, brands are strategizing to get as many people shopping online as possible. They also need to sell off the inventory they have so it doesn’t become a sunk cost sitting...
‘You have to be hypersensitive’: As the coronavirus spreads, standard PR strategies are falling flat As the country adjusts to the new normal of social isolation, and pandemic headlines dominating every media channel, both brands and PR agencies will need to rethink how they work together and communicate to avoid insensitive missteps.
‘A great time to buy’: Why sneaker resale is booming, for now While much of the fashion world is bracing for potential long-term losses and slowdowns in sales, there’s at least one market where insiders are projecting confidence: sneaker resale.
How DTC brands are updating processes amid store closures Buck Mason is one of many brands across the DTC fashion space that has made the decision to close its stores to limit the spread of the virus. Erik Allen Ford and Sasha Koehn have set out to make the best of the situation, transitioning “a healthy percentage” of their...
The coronavirus is proving a catalyst for fashion companies to expedite long-term plans When the first flames of a trade war between the U.S. and China were stoked in the last two years, a number of brands and manufacturers began rethinking their major investment in China, citing the potentially prohibitive tariffs that might emerge. Now, the coronavirus pandemic is proving the final nudge...