There has been much discussion in the industry about what is happening in China and how to prepare for difficult times in the global economy. Who knows what to expect. See previews of Thom Browne’s lawsuit with Adidas and February’s NYFW schedule, then read the analysis. Don’t forget to subscribe to the Glossy Beauty Podcast. – Danny Parisi, Senior Fashion Reporter
As the results of the holiday shopping season increased, it became clear that not all retailers were doing equally well. JD Sports, for example, saw a 20% increase in profits during the holiday shopping season, surpassing his $1.2 billion in annual sales. In luxury goods, companies like LVMH did well. Meanwhile, sales at Asos and Uniqlo fell 3% and 2%, respectively.
This injustice is based on several factors. Uniqlo blamed a decline in sales on a slowdown in China, while Hermès saw an increase in sales there. Asos attributed the decline in sales to the lack of holiday spending.
With inflation, recession and Covid-19 lifting lockdowns in China, the global fashion industry’s priorities are poised to shift, leaving brands to see what happens next in a complex web of data points. have the difficult task of predicting
Some brands, like Hermès, are opening new stores in China, predicting a significant recovery in China. Meanwhile, Tsuyoshi Okazaki, chief financial officer of Uniqlo’s parent company Fast Retailing, told reporters on Thursday that “the situation in China has changed dramatically over the past month.”
Thom Browne Acquires Stripe Rights
As we covered in a previous episode of the Glossy Week in Review podcast, Thom Browne was embroiled in a legal battle with Adidas over the use of stripes. Adidas’ iconic three-stripes logo is known around the world, but Brown claimed it was different from his four-stripes he uses in some of his designs. . Adidas was happy with that distinction until Thom Browne started venturing into Adidas territory: sportswear.
But now a judge has ruled that Thom Browne can continue to use his 4-Stripes pattern. The jury reportedly took him less than three hours to reach a verdict.
The designer returns to NYFW
Speaking of Thom Browne, the designer is back in New York City for Fashion Week next month after being away for several seasons. It also helps that he’s now chairman of the Council of Fashion Designers of America, which announced its schedule last week.
And Braun isn’t the only designer returning to New York City or doing his first show in New York. Rodarte opens the week by returning to events after only showing in Los Angeles last season. Heron Preston has so far only shown in LA, but this season she’s heading to New York for the first time at NYFW. Last September he felt NYFW lively for the first time in several seasons. In the upcoming season, other flagships like Collina Strada will remain, but some notable brands like Tom Ford, Tommy Hilfiger will be absent.
Still, as more designers return, there’s mounting evidence that NYFW is returning to its status as the industry’s mega-event.