Is fast fashion — the sector said to be taking sales away from many retailers — the next retail channel to face a slowdown?
Rumblings have circulated in the markets in the past month that the fast-fashion sector is slowing down. When juniors’ chain Styles for Less Inc. filed its voluntary Chapter 11 petition last week seeking bankruptcy court protection, its chief financial officer August DeAngelo in a court document attributed the retailer’s difficulties in part to “shifts in consumer spending away from fast fashion and toward services and experiences.” Now Kurt Salmon, a part of Accenture Strategy, has weighed in with a study indicating that fast-fashion firms are facing strong pressures on growth amid an ongoing struggle with high inventories and slow sales. It also said the trend toward shifting to lower-cost production channels is not the right answer to counter margin pressures.
The iconic Tiffany & Co. Fifth Avenue flagship will have a whole new look come 2021, reports @mistywhitesidell . The 10-story store is being expanded and renovated under the vision of chief artistic officer, Reed Krakoff. #wwdnews
“I feel like the [Emmy] nomination is this absurdly generous bonus to something that I’ve already been excited by for quite some time now,” Darren Criss tells @ktauer about his nomination for his role as Andrew Cunanan in The Assassination of Gianni Versace: American Crime Story, “My general attitude toward life is I hope for everything but expect nothing. But when you’re playing for the Warriors, there’s a good chance you’ll make it to the championships. And I’m not saying I’m Steph Curry, but when you’re on [showrunner] Ryan Murphy’s team, it seems more palpable than ever,” he continues. (Criss previously starred on “Glee,” another Murphy creation, although they didn’t directly work together.) “I feel like I’ve already won the lottery.” Read more in WWD.com (📸: @lexieblacklock ) #wwdeye #darrencriss #americancrimestory #emmys2018