Weekly News Brief
FASTER THAN FAST?
The UK fast fashion holy trinity that is Boohoo, Asos and Missguided have retailers quaking in their boots. Zara and Uniqlo are left in the dust as Boohoo churns out collection after collection in two weeks flat and drops over 700 new styles on site every week. That's a record-breaking time nobody has been able to match just yet. What's more, the trio are in the process of cutting their teeth on the US consumer market, and it's working. Racked gives the juicy, in-depth deets on the situation at hand.
In contrast, this startup is trying to resist with what it calls an "Anti-Fast Fashion" movement. Fame & Partners is their name, and made-to-order is their game.
WHERE OPPORTUNITY KNOCKS
It's about time Asia shared the spotlight with Latin America. Despite most of the media attention paid to the growth of the Asian markets (specifically China), we shouldn't forget that Latin America packs a hefty punch of its own with a fashion market worth $160 billion. Business of Fashion talks more about the players positioning themselves to take a prime cut out of this lucrative revenue pie.
ALL BOXED UP
Condé Nast continues its revenue diversification strategy with another subscription box in the works. GQ will launch a grooming box this coming June, joining the likes of Brides, Teen Vogue and Condé Nast Traveler in tempting their readers with limited-edition boxes. So far it has been a success, but it's always a fine line to tread between total flame-out and on-point curation with subscribers.
On the topic of subscription boxes, Birchbox is enjoying a revenue boost by educating an unexpected demographic: men. We say keep up the good work because well-groomed men are always welcome!
NOT A GAME CHANGER
Earlier this month, NYU Stern launched a brand new luxury and fashion MBA, further promoting the idea that your dream career at Gucci or LVMH is just within your reach. Well, hold your horses because it doesn't change the status quo. Financial Times reports that making a career switch to fashion is still tough even with these specialist fashion MBAs.
Guess there are limits to higher education after all. Think twice before taking that MBA loan, yeah?
☀️ THIS WEEK'S BRIGHT SPOT ☀️
Miroslava Duma proves she's one helluva #girlboss with her recent launch of Fashion Tech Lab, a new venture targeted at funding the sustainability-driven, tech-fuelled transformation of the fashion industry. With $50 million in the bank, Duma is taking charge and determined to help this industry make an eco-change for the better.