The winners and losers of the global fashion industry last week
According to the monitoring of fashion business news, Fast Retailing Group, the parent company of Uniqlo, became the biggest winner in the fashion industry last week. The stock price has risen by more than 9%, and the market value has exceeded 8 trillion yen; Hongdou shares have risen by 6.5%, and the market value is about 13.1 billion. The share price of Levi’s has risen by 5%, with a market value of approximately US$6.9 billion; the stock price of Lee’s parent company Kontoor Brands has risen by more than 4%, with a market value of approximately US$2 billion; the share price of Ulta Beauty has risen by nearly 4%, with a market value of approximately US$20.6 billion .
The biggest loser is Farfetch, whose stock price has fallen by 14% and its market value is about 2.5 billion US dollars; the stock price of Smith Barney has fallen by 12% and its market value is about 4.2 billion yuan; the stock price of Yixian E-commerce, the parent company of Perfect Diary, has fallen by nearly 11% , with a market value of approximately US$1.1 billion; Under Armor’s share price has fallen by 7%, with a market value of approximately US$3.8 billion; Gap’s share price has fallen by more than 6%, with a market value of approximately US$3 billion.
Luxury giants began to heat up. The share price of LVMH, the world’s largest luxury goods group, rose by 3.3%, with a market value of about 305.8 billion euros; the share price of Gucci parent company Kering Group increased by 2%, with a market value of about 61.3 billion euros; Hermes’ share price increased 7%, with a market value of 117.4 billion euros; the stock price of Cartier’s parent company, Richemont Group, was almost unchanged, with a market value of 55.6 billion Swiss francs.
The founder of Zara intends to acquire a New York skyscraper for US$500 million
According to the real estate website The Real Deal, Spanish billionaire and Zara founder Amancio Ortega’s private company Pontegadea is negotiating to buy a 64-story skyscraper in New York’s financial district. to be completed in the next few weeks.
Bloomberg Billionaires List shows that Amancio Ortega’s latest wealth is US$48.2 billion, which has fallen out of the top 20 on the list and ranks 23rd. The main wealth comes from 60% of the shares of Inditex Group, the parent company of Zara. The latest Valued at $43.4 billion, Pontegadea is worth around $4.6 billion.
New Chief Executive Officer Appointed Up and Down
According to Fashion Business News, the Chinese luxury brand SHANG XIA is undergoing a new round of personnel changes, appointing Chief Operating Officer Wu Chen to succeed the brand founder Jiang Qionger as CEO. Wu Chen is the earliest frontline in ChinaOne of the general managers of luxury brands in China, he has worked in jewelry brand Qeelin and luxury brand Chloe, and has rich relevant experience.
After the handover is completed, Jiang Qionger will continue to serve as a member of the board of directors and as a brand consultant of the parent company Exor Group. His duties as art director will be handed over to the current fashion creative director Yang Li and the new home creative director to be announced soon. SHANG XIA was jointly established by Jiang Qionger and Hermès Group in 2010. In 2020, the majority of shares were acquired by Ferrari’s parent company Exor.
Nike will open a Nike Style store in Shanghai
American sportswear brand Nike opened the world’s first Nike Style concept store in the Hongdae district of Seoul, South Korea today, and said it will open a second store in Shanghai, China this fall. In addition to selling fashion and leisure series products, the Nike Style concept store also has a variety of digital devices to provide consumers with a unique shopping experience, and will create community culture by holding Nike by You seminars, SNKRS Lounge and other activities.
It is rumored that Shein will IPO in the United States in two years at the earliest
According to global market news, Shein, a Chinese cross-border fashion e-commerce company focusing on overseas markets, hopes to conduct an initial public offering in the United States as early as 2024. In fact, Shein has been preparing for listing in recent years. It was previously reported that it would be listed as soon as this year, but it was put on hold due to repeated epidemics and other factors.
Founded in 2008, Shein has surpassed Amazon to become the most downloaded shopping app in the world, providing more than 600,000 products to consumers in more than 150 countries, and has received investment from Tiger Global Management, IDG and Sequoia Capital. The current valuation is about 100 billion US dollars.
Heydude, which was acquired by Crocs, changed its logo
According to global market news, Heydude, which was acquired by Crocs, has replaced its logo in overseas markets. Shein, a Chinese cross-border fashion e-commerce company, hopes to conduct an initial public offering in the United States as early as 2024. In fact, Shein has been preparing for listing in recent years. It was previously reported that it would be listed as soon as this year, but it was put on hold due to repeated epidemics and other factors. Founded in 2008, Shein has surpassed Amazon to become the most downloaded shopping app in the world, providing more than 600,000 products to consumers in more than 150 countries, and has received investment from Tiger Global Management, IDG and Sequoia Capital, currently valued at about $100 billion.
Marine Serre launches digital fashion
French designer brand Marine Serre, known for its crescent logo, has cooperated with the digital platform Skinvaders to create virtual fashion. Players can purchase digital Hard Drive series clothing with digital currency on the virtual world Zepeto. The real thing is sold at the same time. Marine Serre is the winner of the LVMH Designer Award and launched the brand of the same name in 2016. The Hard Drive series represents the core design and environmental protection spirit of the brand.
Dickies Appoints Former Nike Marketing Director as Global Creative Director
American apparel brand Dickies has announced Matt Lambert as Global Creative Director, effective immediately. Before joining Dickies, Matt Lambert served as the creative director of Backcountry and was also the marketing director of Nike North America brand, with rich relevant experience. Founded in 1922, Dickies was acquired by VF Group for US$820 million in 2017. It has retail outlets in more than 100 countries and regions around the world. In fiscal year 2022, its revenue rose 19% year-on-year to US$837 million.
Crocs wins two infringement cases
US footwear manufacturer Crocs recently announced that it has won infringement judgments against USA Dawgs and Double Diamond Distribution, and received damages of US$6 million and US$55,000 respectively. Crocs has filed similar lawsuits against 21 companies in the past year, accusing them of infringing its registered platform shoe designs, and is seeking an injunction and monetary damages against the infringing products.
Balmain’s first high-end jewelry series released
French luxury brand Balmain recently released its first high-end jewelry series during Paris Haute Couture Fashion Week. Made with ethical 18k gold, conflict-free minerals, and traceable gemstones.
On further expanded its apparel business and launched sports underwear products
Swiss sports brand On is expanding its product range with the launch of a line of sports bras designed to give women versatility, comfort and freedom while exercising. According to On, it took more than two years to develop the sports bra to meet the standard of enhancing the running experience while ensuring that the sports bra can be used by athletes of all ages, lifestyles and performance abilities. The series includes two sports bras, one for high-intensity activities and one for daily multi-functional sports bras.
Dior Beauty International PR Director resigns
LVMH’s Dior Beauty Cosmetics recently announced that Jérôme Pulis, the international public relations director, will leave his post and has not yet appointed his successor. Jérôme Pulis started to hold this position in 2006. He is famous for planning celebrity events, such as launching a pop-up beauty salon suite at the Cannes Film Festival, providing skin care, beauty, makeup, styling and other services for celebrities participating in the red carpet. related experience.
The number of buyers participating in the 102nd Pitti Uomo men’s clothing exhibition doubled
The 102nd Pitti Uomo Menswear Exhibition was held at the Florence Exhibition Center from June 14th to 17th. A total of 682 brands participated in the exhibition, and more than 16,000 buyers, suppliers, media and visitors were invited for a record The number of buyers who came to visit this year doubled that of last summer, reaching 10,600, including 6,400 local buyers.
Fox Racing, an American extreme sports brand, was acquired for $540 million
Vista Outdoor, an American outdoor sporting goods group, announced that it has reached a final agreement with Altamont Capital Partners, a private equity fund, to acquire Fox Racing, an American extreme sports lifestyle brand headquartered in California, from the latter. The purchase price of this transaction is US$540 million, and Fox Racing may receive an additional US$50 million in revenue based on 2022 financial performance.
Amazon may completely withdraw from the private label business
According to the Wall Street Journal, citing people familiar with the matter, Amazon has begun to significantly reduce the number of products sold by its own brand, and intends to completely withdraw from the private label business to reduce regulatory pressure. As of 2020, Amazon’s 45 private labels have a total of 243,000 products, which has been controversial because of competition with other sellers on the same platform. In the past 6 months, Amazon executives have directed private labelTeams cut down on item lists and stop reordering multiple products.
