REI Introduces New Product Standards, Skechers Collaborates with Diane von Furstenberg in Latest Developments
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In the world of fashion and retail, there's always something new and exciting happening. Here's a roundup of some recent developments:
Fashion Collaborations
- H&M and Mugler have teamed up for a Spring 2023 collection, creating a blend of Mugler's bold, cutting-edge design language with H&M's mainstream reach. The collaboration, overseen by Mugler's creative director, Casey Cadwallader, features standout pieces like cut-out dresses and ribbed materials, sparking high consumer interest and resale value.
- Skechers has announced a footwear and apparel collaboration with fashion designer Diane von Furstenberg, dubbed Skechers x DVF. The partnership will launch with the Endless Kisses capsule, which includes fashion sneakers, running footwear, a sandal, T-shirt, leggings, shorts, and a racerback bra. The collection is available at select Skechers stores and its website.
Retail News
- Wayfair has reported a significant drop in active customers for the fourth quarter, with a 19% decrease compared to the same period last year, resulting in a loss of 5.2 million active customers.
- Dillard's reported flat Q4 comps and a slight decline in retail sales to $2.1 billion (excluding its construction business). The company has also postponed a store opening planned for South Dakota, now scheduled to open some time next year.
- Target is planning to invest $100M to expand its next-day delivery capabilities and expects to deliver around 50 million packages from its sortation centers this year, double the amount it delivered last year.
- Bath & Body Works anticipates 115 real estate-related projects in 2023, including 90 new off-mall stores and the remodeling of 25 White Barn candle store locations. As part of its growth strategy, the company plans to close about 50 mall-based stores.
Other Interesting Findings
- Goldfish has released a hand-shaped serving dish, the same size as Boban Marjanović (10.75 inches).
- Mugler has gained attention for designing Kim Kardashian's 2019 Met Gala dress, Dua Lipa's concert attire for her Future Nostalgia tour, Madonna's Grammy looks, and SZA's Grammy looks this year.
- REI has introduced the third evolution of its Product Impact Standards, which seek to address social and environmental concerns within its network of over 1,000 brand partners. The third iteration includes "elevated expectations" around greenhouse gas emissions, chemicals management, and advancing equity.
- Diane von Furstenberg expressed excitement about the Skechers collaboration, stating it's designed for those who push boundaries and inspire others.
- Bath & Body Works reported Q4 net sales fell 4.6% to $2.9 billion, while full-year net sales decreased 4% to $7.6 billion.
- Target expects to deliver around 50 million packages from its sortation centers this year, double the amount it delivered last year.
- Bath & Body Works expects $300 million to $350 million in capital expenditures this year.
References:
[1] Resale.com
[2] Vogue Business
[3] The Zoe Report
[4] WWD
[5] Mugler Instagram
- The fashion industry is not only embracing collaboration but also updating its practices to address environmental concerns, as demonstrated by REI's third iteration of Product Impact Standards.
- As science and technology continue to evolve, artificial intelligence is gradually making its way into the fashion and beauty sector, changing the retail landscape.
- The future of labor in the fashion industry remains a topic of debate, with some voices advocating for fairer working conditions and ethical production practices.
- In the world of finance, retail giants like Target and Bath & Body Works are investing heavily to improve their delivery and logistics systems, aiming to offer better services and compete in the increasingly competitive market.
- The business of war has indirectly impacted the fashion and retail industry, as sanctions and trade restrictions force companies to reconsider their supply chains and sourcing strategies.
- Research in the field of sustainability is essential for the future of the fashion and retail industry, as it could lead to innovative solutions for reducing waste, minimizing carbon footprint, and ensuring ethical labor practices.
- The rise of online shopping and fast fashion has had a significant impact on the environment, prompting a call for action from industry leaders, policymakers, and consumers alike.
