Inside the Industry - Apparel News |
- Inside the Industry - Apparel News
- KC apparel company offering its old space for new startups - KTVZ
- YKK's New Magnetic Zipper Provides a Solution for Adaptive Apparel - Sourcing Journal
- The Tipping Point for On-Demand Fashion - Apparel News
| Inside the Industry - Apparel News Posted: 20 Feb 2020 09:33 PM PST Victoria's Secret, the largest lingerie specialty retailer in the United States, will become a privately held retailer, it was announced Feb. 20. Publicly held L Brands, Inc., which acquired Victoria's Secret in 1983 and is headquartered in Columbus, Ohio, sold a 55 percent interest in the retailer to private-equity firm Sycamore Partners. L Brands will retain 45 percent of the retailer, whose nameplate graces more than 1,000 stores around the world. The total value of the lingerie brand is $1.1 billion. When the transaction is wrapped up, L Brands' veteran leader, Leslie Wexner, will step down as chairman and chief executive officer. He will serve as chairman emeritus, while Bath & Body Works' newly appointed CEO, Andrew Meslow, will also lead L Brands as the chief executive and serve on the company's board. Wexner said that the transaction would restore Victoria's Secret to its former prestige and profitability. Wexner and the brand had come under heavy criticism in the past few years for not keeping up with fashion and social trends. The brand also was hurt by the scandal of Wexner's and the company's association with convicted sex offender Jeffrey Epstein. ModCloth was acquired by the brand-investment platform Go Global Retail, it was announced Feb. 20. A statement on the deal did not state how much Go Global Retail spent to acquire the indie fashion retailer ModCloth from Walmart Stores Inc. The Tiger Capital Group provided the financing for the acquisition. Bob DeAngelis, Tiger's executive managing director, said that Go Global Retail would help ModCloth become more competitive. "We saw yet another strong opportunity in Go Global's acquisition of ModCloth, a digitally native retailer, that has posted annual revenues of up to $150 million and enjoys strong brand equity among consumers," DeAngelis said. Gap Inc. said that it would partner with thredUP, the world's largest resale platform. Gap will encourage its customers to turn in secondhand clothes to thredUP in exchange for credit at Gap Inc.'s stores such as its namesake Gap, Banana Republic, Athleta and Janie and Jack, said Mark Breitbard, president of Gap Inc.'s specialty brands. "As the resale revolution continues to gain momentum, participating in re-commerce is not only good for our planet but good for business," Breitbard said. "Our customers are diversifying their closets, whether with new clothing, rental pieces or secondhand goods. We're thrilled to partner with thredUP in offering a sustainable and innovative way to shop for the closet of the future." Teva, a division of the Goleta, Calif.–headquartered Deckers brand, announced the launch of the "Strap In To Freedom" campaign. For the campaign, Teva will use recycled plastic in 100 percent of the straps used in its sandals, said Anders Bergstrom, Teva's general manager. "We are committed to improving our practices and creating product with higher social and environmental standards that minimize our overall environmental impact," Bergstrom said. "We believe we have an obligation to do our part in creating product that is mindful of the environment, and this is only the beginning. We have a long road ahead but are dedicated to creating a sustainable footprint."  |
| KC apparel company offering its old space for new startups - KTVZ Posted: 21 Feb 2020 09:23 AM PST  Click here for updates on this story KANSAS CITY, MO (KCTV) — For anyone who has ever thought about starting a business but didn't know where to begin, a KC company wants to offer a new home to get that new business idea off the ground. Mark Launiu has been one of the owners at streetwear maker Made Mobb since the company opened in 2013. Launiu said the business has been in its Crossroads location for nearly 8 months after expanding from a sister location on the Plaza. "We were expanding we were growing as a business and we just needed more space," he explained. "This is why we came to the Crossroads Art District. We have more space so we can take everything in house." Since the Kansas City Chiefs big win in the Super Bowl, Launiu said they've been slammed, pulling championship shirt after championship shirt right off the press. Before the group found a home in the Crossroads, the space they grew out of was in the heart of the city. However, that location downtown on Grand Boulevard is not currently open, which is something the owners want to change. They are offering the space up to entrepreneurs for a 3-month pop-up with no contract in order to start a business in their old location. "(What we're) trying to do with that location now is give a lot of these local creators space to experience opening their own shop," Launiu said. "Those long-term leases are very scary especially if you're new and not sure you are going to make ends meet." While some may think the deal sounds too good to be true right, Launiu said they aren't joking. That's part of the reason he posted it on social media. Since then, Launiu has seen an overwhelming response, saying, "Right now my inbox, my email, it's crazy." The company even got the stamp of approval from Mayor Quinton Lucas for the offer. Currently, the selected entrepreneur would have to pay rent, but Launiu said they are working with the city to hopefully wipe the rent out during that trial period. "The city is growing. It's going to grow with or without us, and we just want to contribute to the growth," he told KCTV5 News. Anyone interested in the opportunity can contact Launiu at mark.launiu@mademobb.com. Please note: This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.  |
| YKK's New Magnetic Zipper Provides a Solution for Adaptive Apparel - Sourcing Journal Posted: 20 Feb 2020 10:53 PM PST YKK Corporation's new zipper design fills a void in adaptive apparel design. The company recently announced that it has developed a new zipper that closes using magnetic force. Magnet Zippers are open-end zippers designed to be closed easily using magnetic force between the left and right sides. While conventional zippers require the wearer to insert a pin into a retaining box to close, YKK's Magnet Zippers can be engaged and closed through magnetic force simply by bringing the left and right sides of the zipper together. This makes it easy to perform tasks such as closing the zipper without looking at one's hand, and closing the zipper with one hand. The zipper, YKK stated, is expected to be used in a wide variety of sectors like sportswear to facilitate quick clothing changes and children's wear. Moreover, the company said Magnet Zippers will make it easier for people who may struggle with opening and closing zippers to be able to dress with ease. As inclusive fashion becomes mainstream, designers are turning their attention to adaptive apparel. Tommy Hilfiger debuted a 54-piece collection in 2017 called Tommy Adaptive, which featured magnetic buttons and one-handed zippers. Online retailer Zappos offers adaptive fashion through Zappos Adaptive, a curated shop for fashion that has pull-on designs, magnetic closures and are sensory friendly.  Magnet Zipper The category is still in its infancy. According to a study conducted by Coresight Research, the U.S. adaptive apparel market was worth $47.3 billion in 2019, and is expected to grow by more than 13 percent by 2023 to $54.8 billion. The category is expected to grow even faster worldwide, with projections showing a more than 17 percent increase in the worldwide adaptive apparel market by 2023, for a total value of $349.9 billion. YKK aims to begin mass production of the Magnetic Zipper in 2021.  |
| The Tipping Point for On-Demand Fashion - Apparel News Posted: 20 Feb 2020 09:00 PM PST On-demand fashion continues to grow as consumers increasingly look for personalized and customizable products. In fact, indications show that this is less of a trend than it is a tectonic shift in the way the fashion industry does business, from marketing and design to product development, manufacturing and logistics. However, the majority of brands have yet to take advantage of what customers are largely saying they want, leaving the door open for forward-thinking brands to innovate and take advantage of this market opportunity and realize value for their bottom line. Added to this is that while the trend is still in an early adoption phase, risk is minimized by the fact that many brands have already taken the leap and are seeing success. Right now, there is a window of opportunity in which brands can still be trailblazers but also have a map for how to make the transition profitably and sustainably. The time is now for brands to invest in the technology and strategy to get a head start on the future of fashion. Determining the extent of the change Because consumers are growing accustomed to personally curated experiences in many aspects of their lives, it's inevitable that the trend extends to fashion. However, though consumer demand will determine the extent of personalized experiences in the apparel industry, so will the industry's ability to pivot to technology and processes that empower personalization. Brands agree that companies will advance from supply-driven chains to demand-driven ones, though rates and degrees vary. The general belief is that, in order to remain competitive, mass customization is necessary for at least certain product categories, with many believing that it will become essential across a company's product offerings. Fashion decision-makers, in general, were more likely to deem customization necessary and indicated that it would be mainstream in the next two to five years. Sasha Stasevich, director of operations for Blacksmith International, a sourcing-and-production company, recently said, "I think in two or three years we'll see the change in [consumers'] preferences and companies able to adapt and thrive on this new model. It's a matter of how they're going to implement and how the model will fit into their long-term vision." Meeting consumer expectations Made-to-order products by definition require more time to deliver into shoppers' hands, so one major consideration is the customer's willingness to accept the added cost and time. The good news is that shoppers are willing to pay more for products that speak to them personally—to a point. Apparel companies are still grappling with the challenges related to cost, speed and the complexity of the demand-driven supply chain. The industry has yet to determine how best to retrofit—or build—factories and processes to coexist with their established bulk production, but it is clear that the technology is increasingly there to facilitate the change through integrated software and machinery that speak to each other across the supply chain and offer companies digital transparency throughout the process. Felipe Caro, professor of decisions, operations and technology management at the University of California, Los Angeles, said, "The demand is there as long as it's not too expensive and doesn't take forever. That is the trade-off, which is very hard to overcome because it's already challenging to produce at a large or medium scale. Doing it on an individual basis, it's 10 times the challenge." Interestingly, decision-makers were more likely to say the onus often falls on manufacturing facilities when change is necessary—and this speaks to the need to partner with the right tech companies to overcome the speed and consistency obstacles in the on-demand model. Many have identified supply-chain partners that are designed to capitalize on this model, and, ultimately, most of the industry recognizes that the widespread adoption of models like mass customization and made-to-measure are a question of when, not a matter of if, especially as on-demand technology allows for a less-wasteful, more-agile supply chain geared for both sustainability and business resilience. The time is now for fashion brands looking to capitalize on the personalization revolution. The only question for brands then is: When are they going to become willing to seize the opportunity? Edouard Macquin is the president of Lectra Americas. Lectra, headquartered in France, is a technology company that combines software, cutting equipment, data and services to meet the specific needs of fashion, automotive and furniture companies across the globe.  |
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