The rise of fast fashion and growing consumer demand for the newest looks has challenged Kohl's, Gap and other traditional apparel retailers to find ways to speed production and get new styles to their stores faster. US-based designer and manufacturer Jackie Wilson won a contract with Kohl's eight years ago, and today her company delivers new designs to the stores in eight weeks.
Under Armour has joined dozens of other footwear brands including Nike, Sperry and Stride Rite in signing a letter urging President Donald Trump not to impose new higher tariffs on imports from China. "US footwear tariffs stifle innovation and job creation and raise the cost of shoes for every American," the letter said.
Four former Gilt executives have launched CoEdition, an e-commerce marketplace that will bring together plus-size fashions from a variety of designers and brands. The plus-size apparel market is valued at about $21 billion, according to NPD Group, and it's growing twice as quickly as traditional apparel.
Toronto-based luxury coat brand Canada Goose will expand its in-house manufacturing from one-third of its total collection to one-half in the next few years in a push to boost profits and control quality, CEO Dani Reiss said. The company is best know for its luxury parkas that sell for as much as $1,700.
High-end footwear retailer Stadium Goods will open a shop inside Nordstrom's first standalone men's store, which is set to open in New York City next month. The store will feature limited-edition sneakers from brands including Adidas and Nike.
Private-equity firm Sycamore Partners has generated above-average returns with its investments in traditional retail chains including Staples, Hot Topic and Nine West. The company generates returns by selling off the most profitable parts of the companies it acquires and using other companies it owns as middlemen between its retailers and suppliers.
UK-based retailer New Look will close 60 of its 593 stores as part of a reorganization that will cut about 980 of its 15,300 staff positions. The company has launched a voluntary arrangement with its creditors to avoid insolvency, and 98% of the creditors have approved the store closure plans.
Young people in China are turning away from foreign brands in favor of domestic labels on goods including appliances and sportswear, according to a Credit Suisse survey. "Like it or not, China is becoming a major power globally, which makes the younger generation feel more proud to be Chinese," said Charlie Chen, the firm's head of China consumer research.
A major part of Walmart's planned investment in Indian e-commerce company Flipkart will go toward building a logistics chain aimed at boosting the US-based retailer's share of omnichannel food sales in the country, sources said. Rival Amazon won government approval last year to start selling locally produced food online and in stores.
Patricia Nakache is one of the longest-tenured and most prominent female venture capitalists in Silicon Valley, and she oversees a US company that is an early stage investor in e-commerce. Nakache spoke to STORES Magazine about the intersection of venture capitalism and retail. Read the Q&A.
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