Weekly News Brief
THE THING ABOUT MODESTY
A largely underrated slice of the lucrative fashion industry pie is modest fashion. That's strange for a market that has been predicted to grow to $484 billion by 2019. Modist is breaking new ground by being the first e-commerce player to move into the luxury space for modest fashion, targeting discerning consumers from over 100 countries.
While dressing in accordance to your faith still remains a contentious matter in this globalized world, we see fashion as a vehicle of progress. StyleSage talks about modest fashion and its extraordinary market potential in our recent article.
In the wake of disappointing second quarter earnings, Neiman Marcus has declared a possible sale of the company. Hudson's Bay Company (HBC) has been identified as the most likely candidate to buy the struggling company. HBC has made similar acquisitions in the past - Lord & Taylor as well as Sak's Fifth Avenue.
In other news, Urban Outfitters just got the boot from the S&P 500 to its less prestigious younger sister the S&P MidCap 400. Fortune analyzes the ailments that have led to the company's poor performance, which include sluggish store sales and high e-fulfillment costs.
OUT ON THE STREETS
Professional street style photographers might just be running out of jobs. Business of Fashion reports that the market has become increasingly saturated, because the supply of street style images has ballooned. Barriers of entry are low and fashion weeks are a favorite for novice photographers to cut their teeth on building a portfolio.
Influencers documenting their own experiences during fashion week are also competition for these professional photographers. Vogue UK tells the story of different stakeholders in fashion influencer marketing here in this article.
NEW PLAYER IN TOWN
Rumors have buzzed about Imaginary Ventures, the company Natalie Massenet filed after leaving Net-a-Porter in 2015. While Massenet has kept her intentions under wraps, WWD recently revealed that Imaginary Ventures will be launched as a venture capital firm in spring 2017. The firm's portfolio will likely focus on the e-commerce space, leveraging on Massenet's and firm partner Nick Brown's expertise in luxury commerce.
Bets are on Farfetch as the first name on the shortlist for investments.
INTO THE FUTURE
After 18 months of waiting, it's finally here! At South by South West (SXSW), people could finally feel and try out the much anticipated Levi's Commuter x Jacquard By Google Jacket in a live demonstration. This is exciting progress for wearable technology as all the cool tricks of a smartwatch have been built into the denim jacket, allowing you to control the connecting Jacquard app just by swiping on the cuff of the sleeve.
For those of you who missed SXSW, don't worry. The jacket will finally have a public launch this fall and is expected to retail at the price point of $350.
☀️ THIS WEEK'S BRIGHT SPOT ☀️
Just as we know that the world is round, we know that bodies come in all shapes, heights and sizes. It is why there is always a cause for celebration when fashion entities actually start to see from our world view to make clothing that suit such diversity. WWD sums up the 2017 pro-curvy moves made by Nike, Prabal Gurung, Michael Kors and more that have us reaching for a round of toasts.
And now it's time for some mid-week cheer! A bold new instagram called @siduations has been making waves in the industry lately, and you definitely will want to scroll through for some light-hearted fashion humor.