There's plenty of excess merchandise and it's not always easy to unload.But Inturn, the b-to-b technology introduced last April to automate how buyers procure excess inventory from brands, is extending its service to make it easier for brands to transact globally."Initially, Inturn addressed some of the pain points that existed in the domestic U.S. market. What we are really addressing here are the issues of going into international markets which don’t allow major brands to operate in the same way, the reason being that the products they make and distribute in different countries have different perceived values," Ronen Lazar, Inturn's chief executive officer and cofounder, told WWD."We are simply providing robust tools to enable them to liquidate product in international markets. In Europe, there can be a discrepancy in the pricing in the product. It could be 25 percent higher or more, from one country to the next," Lazar said, adding that what's considered a moderate or discounted brand in the U.S. could be considered a luxury brand in another country.“It’s no secret that the single greatest inventory challenge for fashion and apparel brands occurs in international markets,” Lazar said. "We believe U.S. off-price retailers will also benefit from our global solution as it allows them to source product directly from international brands far more efficiently.”Among the new Inturn features are: optimizing the pricing across different markets since countries value labels and items differently; enabling transactions across different currencies; market data; assisting brands to find the right buyers for the best values and exposing them to a broader pool of potential retail buyers, off-price inventory management and allocation across different markets.Lazar characterized the off-price marketplace as less developed internationally than it is in the U.S., with fewer off-price buyers and opportunities to unload goods, and the potential to have merchandise valued lower than expected. At the same time, manual and antiquated methods used to sell excess inventory have left the process costly and inefficient.As previously reported, Inturn, has some high-profile industry investors including Ken Seiff, founder of Bluefly; and Silas Chou, who backed the Michael Kors and Tommy Hilfiger businesses. Lazar declined to say what brands and retailers are utilizing Inturn. Two of the biggest off-pricers overseas are TK Maxx and Vente-Privee.Inturn’s platform automates how brands can sell off-price merchandise to off-price retailers and eliminates the manual labor involved in creating spreadsheets. It sorts by classification; shows sizing and color information; indicates quantities, suggested retail prices, wholesale prices, new asking prices, purchasing rules such as whether you can buy all of the inventory or part of it, and, in effect, creates “private, curated showrooms for retailers” that give clear reads on the offer. There’s a margin analyzer that calculates purchase prices to get the desired margins. Frequently, buyers are writing orders without product pictures, descriptions, UPCs, color codes and country-of-origin information.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)