Zalando, reported a Q2 net profit of €56.6 million, marking a 304.2% increase from PY. Despite a 2.5% sales drop, the company's revenue stood at €2.556 billion. Higher ASP due to new brand additions like Lululemon and Lancôme.
Birkenstock gears up for a September IPO, potentially valuing the iconic sandal maker at over $8 billion. Boosted by high-fashion collabs and a 29% revenue rise, the brand continues its upward trajectory.
Prada goes in beauty, venturing into makeup and facial care.
Zara expands its Pre-Owned platform across Europe, promoting sustainability by allowing customers to resell, repair, and donate clothes. Launched last year in the UK, it aligns with other retailers like Zalando in the secondhand market trend.
Driven by consumer demand and regulatory pressures, luxury Fashion brands are increasingly incorporating repair services, either through in-house programs or collaborations with third-party refurbishment companies.
Online shoppers are getting promiscuous. With inflation affecting spending power, consumers are hopping between brands seeking the best deals. Given the rising costs of acquiring new customers, it's crucial for brands to retain current ones and emphasize loyalty. Traditional points-based loyalty systems are no longer effective.
The sports-inspired clothing market is booming, driven by a blend of fashion and sportswear. Brands are innovating to cater to health-conscious consumers. The global market is projected to reach $233.4 billion by 2028.
Fashion Tech
The Rise of virtual try-on technology is transforming the online shopping experience, addressing the challenges of fit and appearance that many shoppers face.
The metaverse's adoption remains limited among businesses. Despite the hype and Meta's $36 billion investment, the metaverse hasn't lived up to its promises.Lacoste unveiled its New Virtual Store 🐊 Immerse yourself.
Fashion NFTs Fizzled. Brands are exploring practical uses for technology in supply chains, loyalty programs and assigning digital identities to physical items.
Gaming as a Branding Platform. Brands are increasingly merging the digital and physical realms, offering products that have a presence in both worlds. Ralph Lauren is intensifying its engagement with the popular game Fortnite, launching its own island within the game and released a limited-edition physical version.
🎙️ On the latest Wavebreak Podcast episode with Charles Gorra, CEO of REBAG on how emerging technologies, especially AI, are shaping the future of luxury commerce.
Until next time.Thanks for reading.
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