Fanny Packs Lead Industry Growth and FarFetch Buys Stadium Goods
FANNY PACKS LEAD ACCESSORIES GROWTH
At the midpoint of 2018, fanny packs were noted to be undergoing a revamp. The nostalgic tourist essential made hands-free accessories a trend again, and despite accounting for only 1 percent of fashion-accessories sales this year, the waist bags were responsible for nearly 25 percent of the accessories industry growth this year.
According to NPD Group a market-research firm, fanny packs are also the fastest-growing segment in the men's accessories market.
During 2018, the gender-fluid accessory arrived in iterations from high-end brands such as Alexander Wang, Louis Vuitton, and Gucci, driving sales in the luxury industry as well. Read more on the future of luxury with our overview of the key areas of disruption here.
FARFETCH DABBLES IN SNEAKERS FarFetch is playing its hand in the premier sneaker and streetwear category. This week, it was announced that the luxury marketplace has acquired Stadium Goods for $250M. The deal comes less than a year after LVMH entered into a partnership with the consignment sneaker company to expand the luxury resale ecosystem. Read More |
RETURNED PRODUCTS MEAN BIG BUSINESS Last year, customers in the U.S. returned about $351 billion worth of items, according to estimates by the National Retail Federation. Nevertheless, there's a silver lining in this return-to-sender cloud. To offset costs, retailers work with resellers and B2B marketplaces to handle returns and excess items. Read More |
####L BRANDS SELLS LA SENZA
L Brands has announced a definitive agreement to transfer ownership and operating control of its Canadian lingerie brand, La Senza, to the private equity firm Regent LP.
The North American stores, e-commerce, and international partnerships, and home office organization will be allocated to Regent LP, who will assume 100% of La Senza's liabilities.
As its flagship, Victoria's Secret struggles with psychographic changes amongst its customer base, L Brands is channeling focus towards its largest brands.
ADIDAS PARTNERS WITH SNAPCHAT Adidas is partnering with Snapchat to engage with younger, digitally-native users. With an AR lens, Snapchat will allow users to virtually try-on sneakers. The integration will allow consumers to preview the company's new Ultraboost 19 before its December 15 release date. Read More |
THIS WEEK'S BRIGHT SPOT Countless notable fashion moments took place this year on the red carpet. Iconic moments like Rihanna's Pope ensemble were our focus at the Met Gala, and new designers made a debut at Givenchy and Celine. There was never a dull moment! Here are the top 28 picks for 2018's best-dressed celebrities and a homage to their hard-working stylists. Read More |