This week, H&M reported significant increases in profits despite adverse circumstances and luxury brands like Jacquemus are pushing their global expansion. At the same time, the European Union is taking action against the unregulated fast fashion glut with new fees on cheap imports. In the midst of these upheavals, prominent new appointments at Mulberry and Oakley as well as forward-looking sustainability dialogues are providing important impetus for the creative and ecological transformation of the industry.
Business
Mergers and investments
A billion-dollar transaction is looming in the cosmetics industry: Puig and The Estée Lauder Companies have confirmed their merger negotiations. At the same time, the French label Jacquemus is securing fresh capital for global expansion by selling a minority stake in Sandbridge Capital.
Business figures and analyses
H&M was able to record a strong increase in profits in the first quarter despite a slight decline in sales. The outdoor specialist Bergzeit also increased its annual sales by 17 percent, while Bijou Brigitte was also able to increase its annual profit. The optician Mister Spex meanwhile reduced its annual loss by 67 percent and the Otto Group plans to achieve sales of ten billion euros by 2028.
Market conditions and crises
The EU is reacting to the flood of cheap imports and introducing a new processing fee for online purchases from third countries. In order to take action against fast fashion in Germany, a new textile law is to be introduced that will make manufacturers more responsible. At the same time, disrupted supply chains and skyrocketing freight costs as a result of the crises in the Middle East are putting a strain on the industry’s schedule.
fashion
Collaborations and innovations
Swedish giant H&M and Stella McCartney launch a joint sustainability dialogue forum to push green standards, while Zara unveils a collaboration with Willy Chavarria. The Berlin label GmbH also wins the prestigious FCG/Vogue Fashion Fund. Technologically, the company Nothink is providing new impetus with patented shoes for switching from high to flat heels.
Trends
Tokyo Fashion Week presented trends for the coming winter that range from “fairy dust” to sculptural shapes.
retail
Expansion and new concepts
The first Zara Man flagship store has opened in the German capital. Internationally, Ralph Lauren is scoring points with a new store and its first café in Zurich, while Montblanc is returning to Munich’s Maximilianstrasse. Drykorn is also expanding with a new store in Düsseldorf.
Realignments and awards
The discounter Kik is closing around 300 locations to optimize its branch network. Meanwhile, the Frühauf fashion house is using a completely new store concept after a renovation in Freystadt. There was recognition from the HDE: &Other Stories and the Eppli Haus were named “Stores of the Year”.
Personal details
Creative realignment
This week’s personnel changes promise aesthetic changes: Christopher Kane becomes the new creative director at Mulberry, while Matthew Williams takes over the creative direction at Oakley. Meanwhile, Nicolas Di Felice is saying goodbye as creative director of Courrèges.
management
At the top of On, the founders are taking operational helm again as co-CEOs and Closed is appointing the former Tom Tailor manager Christian Werner as CFO. At Snipes, Samuel Deichmann succeeds Dennis Schröder as managing director, while Hervis brings industry expert Thorsten Schmitz onto the supervisory board. The arrest of a former Signa manager on suspicion of breach of trust also made headlines.
culture
Fashion heritage is celebrated in Antwerp: The exhibition about the “Antwerp Six” has officially opened and highlights the influence of the legendary designer group on contemporary fashion.
