All pinked out
Digest #1 The delicate boundary between revitalizing a color and spoiling its essence.
Fashion
"Barbie pink" has become an overwhelming trend.
The Barbie movie's record-setting opening was accompanied by a wave of Barbie products, thanks to Mattel's extensive marketing strategy with countless products and collaborations capitalizing on the color. From Zara x Barbie, Balmain and Vans to Burger King Brazil Unveiling a 'Barbie' Burger With Pink Sauce.
Loewe, crowned as the hottest brand globally by the Lyst index, previously held by Prada.
Adidas scores a hit with first batch of unsold Yeezy shoes in May. The Three Stripes received over $560 million in orders for inventory it had originally planned to write off. Next relaunch will take place starting on August 2.
Winter is comming. Retailers are preparing for an inflationary autumn, adjusting strategies by revamping outerwear offerings and postponing product launches. UK retail sales experience the fastest decline since 04.2022. Retailers pare back suppliers orders and brace themselves for another sales contraction.
Luxottica, maker of Ray-Ban and Oakley sunglasses, been sued for supposedly colluding with rivals to hike prices by up to 1,000%.
H&M has sued Shein for design infringement. Shein planning a NYSE listing, aims to surpass Inditex and H&M's combined turnover by 2025.
“Who sayed that Luxury is slowing down?” Half-year results:
Hermès experienced a substantial 27.5% increase in sales , reaching €3.32bn, reflecting global demand for luxury goods.
Prada also reported strong performance with a +17% rise in profits, particularly from Asia and Europe.
Moncler saw a 24% sales surge in the same period, breaking past the €1bn milestone.
LVMH, however, faced a contrasting situation. Although it reported a +15% uptick. The U.S. market is a weak spot, demonstrating a broader slowdown in luxury demand in the region.
Kering, has acquired a 30% stake in Valentino for €1.7 billion. This comes after a disappointing round of earnings, particularly for Gucci, 1% decline in earnings YoY.
Aspirational luxury shoppers, typically making a few entry-level purchases a year, have cut back on spending, especially in the US.
Millennials and Gen Z are reshaping the luxury market with their increased spending and high demands. Expected to represent 75% of luxury goods buyers by 2026, driving new trends such as the resale and rental of luxury goods. BCG x AltaGamma Report.
LVMH signs a major deal with the Paris 2024 Olympics, further deepening its ties to the world of sport. The deal promises high-profile exposure for LVMH's brands during the games, includes designing medals, dressing the French delegation, and supporting select athletes.
Still Shinning? US jewelry trends show a decline in precious stones and metals, with a rise in semi-precious stones like Garnet and Cubic Zirconia. Quartz, offering diamond-like sparkle, sees a 44% surge in demand.
Thredup estimates that the global secondhand market will grow to $248 billion by next year and to $351 billion by 2027.
Mid-tier luxury watches including Omega and Cartier are outperforming as high-end pre-owned Rolex, Patek Philippe, and Audemars Piguet models see falling prices (-16% YTD).
Pre-loved Hermès bag prices, being sold for +500% than their original retail price. This trend is enabling consistent price increases for luxury brands. (The Fresh Kid)
Tennis clothing is trending on and off the court. In the US, sales have risen by 15% in the past year, with the sector growing by 38% compared to three years ago.
Quiet Luxury for all. HBO's "Succession" S4 sparks a 684% surge in Google searches for "quiet luxury", a minimalist, branding-free lifestyle fashion trend with high-quality materials and neutral colors. Sofia Richie, becoming the face of the quiet luxury, shared that she's working on a new clothing line.
MSCHF x Crocs. Ignited by Paris Hilton, dressed by Victoria Beckham and Maluma. Big Yellow Boot revealed during the most recent round of Paris Fashion Week.Priced at $450 and available starting Aug. 9th.
Fashion Tech
Rubi Laboratories has developed in partnership with Ganni and Walmart a new cellulose fiber with a negative carbon footprint, turning carbon emissions into textiles.
Zalando launches size recommendations based on customers’ own body measurements. Only By taking two photos. Previous size advice feature has already cut size-related returns by 10%.
Desigual launches a on-demand collection of custom apparel created by artificial intelligence. Check the collection.
DressX, a digital fashion retailer, has raised $15M in a Series A round. Check it’s founder interview about ”Why big fashion and luxury brands are entering web3”.
Until next time.Thanks for reading.
