Counterfeits Rule the World and Sears Fails...Again
COUNTERFEITS RULE THE WORLD
The shadowy trade of counterfeit goods has a footprint that reaches from the expanse of the Chinese mainland to ports in the U.S., with everything from replica luxury fashion products and copycat automobiles to fake cigarettes and pharmaceuticals making their way into the consumer marketplace.
Based on figures from U.S. Customs and Border Protection (“CBP”), the fashion industry is routinely the hardest hit by the trade in counterfeit goods. According to the CBP’s review of the 2017 fiscal year, which was still being updated as recently as last month, apparel and accessories topped the list of products seized in terms of volume, accounting for 15 percent of seizures for the year with 5,223 seizures, followed by watches and jewelry, footwear, consumer electronics, and handbags and wallets.
DON'T PUT LULULEMON IN A BOX
Lululemon often gets credited with fueling the so-called athleisure movement in the U.S., as many women don its famous leggings and tops to wear, not only to the gym, but around town. But CEO Calvin McDonald feels otherwise, “I don’t cringe at it, but I don’t think it represents who we are,” Lululemon CEO Calvin McDonald told CNBC’s Sara Eisen.Read More
RETAILWINDS JOINS LINGERIE WARS
RTW Retailwinds, Inc. (formerly New York & Company) has tapped a former Victoria’s Secret merchandising executive for a new online lingerie brand launched Thursday, dubbed "Uncommon Sense." Prices range from $12.50 to $20 for panties (with a buy two, get two free option), to $19.50 to $45 for bras, $24.95 to $79.95 for swimsuits, and $18 to $59.50 for sleepwear, according to the e-commerce website.Read More
SEARS, SEARS, SEARS.
The failure of the newly renovated 56-year-old Sears in Oak Brook, which was viewed as a prototype for future Sears locations, casts considerable doubt over the company's recovery post-bankruptcy , according to Neil Saunders, managing director of GlobalData Retail.
The company spent a year renovating the location, then trumpeted its grand reopening in October with a live band, celebrities, and a giant ribbon-cutting. Six months later, the store is liquidating its inventory and closing permanently.
"It underlines the fact that Sears does not have a credible plan for its long-term survival," Saunders said. "Making stores a bit nicer and reducing space are sensible steps, but they do not represent a holistic solution."
The outlook for Sears continues down a bleak path.
INSTAGRAM TO GET RID OF LIKES
“We want your followers to focus on what you share, not how many likes your posts get,” says Instagram. While Influencers are currently in a panic, this could also pose a threat to retailers who market on the platform.
THIS WEEK'S BRIGHT SPOT
Did you celebrate National Lingerie Day? To bask in the occasion, Rihanna‘s Savage x Fenty released a number of new styles, while hosting a giveaway to five lucky winners. Promotional ideas, anyone?