FASHION INDUSTRY NEWS – WEDNESDAY
Good morning designers! The Wednesday edition of the StylePortfolios.com Daily Fix is up and ready for your reading pleasure. What are you waiting for? Get a coffee, sit-down and get your day started-off right with the The Daily Fix…
12 RETAILERS THAT BOMBED IN 2015 – Business Insider
“Not every apparel retailer had a great 2015. In fact, some brands seriously struggled. These are some brands that did not fare too well — many suffered from low sales and misguided sartorial choices. Some companies even had to file for bankruptcy.“
NIKE HAS A BIG PLAN TO BOOST ITS ECOMMERCE SALES FROM $1 BILLION TODAY TO $7 BILLION IN 2020 – Business Insider
“Nike currently makes just over a billion dollars annually through its ecommerce channels and expects upcoming investments over the next four yeas to push it to $7bn.”
FOREVER 21 OPENS THREE NEW F21 RED STORES – FashionMag
“Forever 21 on Friday announced the opening of three new F21 Red stores in New York City, San Diego and Kendall, Florida. F21 Red is a new concept from Forever 21 that offers a deeper inventory of styles at entry-level price points from Forever 21 and its many lines including Forever 21 Men, Forever 21 Plus and Forever 21 Kids. The New York City store stands at 35,000-square-feet in Brooklyn, and the San Diego and Kendall stores are both over 20,000-square-feet.”
UNDER ARMOUR TAPS CHIP MOLLOY FOR CFO SLOT – Footwear News
“Chip Molloy, the former CFO of PetSmart Inc., will join Under Armour as its new CFO on Jan. 19, 2016. The Baltimore-based footwear and apparel company’s CFO and COO Brad Dickerson announced in October that he would leave the firm in February to accept the CFO role at recipe delivery service Blue Apron.”
RENT THE RUNWAY UNDER FIRE FOR MARKETING WHOLESALE BRANDS AS “EXCLUSIVE,” DRIVING UP PRICE – Pret-a-Reporter
“Rent the Runway, a digital e-commerce site which allows customers to rent designer dresses, has come under fire for allegedly marketing two brands as exclusive in-house labels when in fact they are also sold at department stores — often at much, much lower prices.”
ABERCROMBIE & FITCH PRESIDENT IS OUT, HOLLISTER PRESIDENT TO OVERSEE BOTH BRANDS – Pret-a-Reporter
“It’s been a whirlwind of a year for Abercrombie & Fitch and its sister brand, Hollister, following the dismissal of controversial CEO Mike Jefferies. Since then, the company has been on a mission to revamp its image in an effort to return to its glory days at the top of the mall food chain.”