As diversion of salon brands accelerates in the mass market, at least one specialty retail chain has decided to update its current business model to make it more competitive.
Trade Secret, the 630-unit business owned by Minneapolis-based Regis Corp., was designed to be a destination for those craving a plethora of professional hair care brands. Today, these products — which once offered up a recipe for unique positioning — are now sold in a range of retailers, from Sephora to Ulta to the neighborhood drugstore, the latter of which has become the biggest thorn in Trade Secret's side, and to the salon industry overall. The result has taken a toll: Trade Secret this year posted a 4 percent sales dip, the first decline since Regis bought it in 1992.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)