The Business of Fashion

The newer platforms aren’t yet a major growth driver for all of their brand partners. Halara, for example, sells on Bazar to meet internal sustainability goals instead of meaningfully increasing sales. Still, the startups are launching services to make it easier for labels to maximise their sales growth potential from reselling returned wares. Brands should see increased resale revenue as a result, while Revive can move closer to its goal of generating nine figures in revenue in the next five years. In addition to being a marketplace, Bazar lets brands send customer returns directly to its network of warehouse partners where data is pulled about those items’ condition and then listed onto Bazar’s site. It currently has two stores in Stockholm, one in London and Berlin, and three in South Korea operated by local distribution partner Handsome Corp.

Late last year, The RealReal announced new stores in Houston and Miami, bringing its total number of stores to 15. Rebag, which has a similar business model to Fashionphile and four stores of its own, opened shop-in-shops inside five Bloomgindale’s locations in August. Last week, Rebag also partnered with Walmart to help expand the big box retailer’s offering of pre-owned luxury products via its online marketplace. Even peer-to-peer eBay-competitor Mercari ventured into brick and mortar with a storefront in Los Angeles. Consumers are increasingly purchasing fashion items across a variety of channels, making it difficult for brands to provide multiple options for size and colour across a growing number of touchpoints, especially if not operating a single stock pool.

By 2025, secondhand sales will account for 10 percent of the global apparel market, and the segment is expected to grow at a 12 percent compound annual growth rate to reach $350 billion by 2028. An “inflation overhang,” the idea that customers take time to adjust to higher prices, is not the only dynamic at play. Even customers with growing discretionary spend Bof casino review are prioritising experiences and travel over fashion. In the third quarter of 2024, the top category that US and European customers splurged on was eating out, followed by travel and buying groceries.

Executive Editor Brian Baskin and Senior Correspondent Sheena Butler-Young speak with DTC correspondent Malique Morris about how the luxury marketplace has changed under its new owner, Coupang. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors. Some stores have burned to the ground in the upscale Pacific Palisades neighborhood being decimated by a still-growing wildfire. The company reported a long-awaited lift in net sales in its third quarter results, with increases from skincare leading the way, but clouds persist over its China recovery. The quarterly and annual budget performance analysis of the various performing sectors is shown in the budget implementation report.

Masterclass The State of Fashion 2025

• For the BoF-McKinsey State of Fashion 2025, CEO Patrice Louvet spoke about how pricing and merchandising strategies have set up the company for success in uncertain times.
• With over 30 years’ experience we have the expertise to deliver and implement your projects.
• Founded in 1983, the brand places emphasis on craftsmanship and manufacturing in its home country of Oman.
• Research linking PFAS exposure to health issues – including liver damage, lower birth weights and testicular cancer – is raising litigation risks for companies, Jefferies analysts said in a note this month.

Many brands have treated the climate crisis as a useful marketing tool, while viewing the impact to the bottom line as a distant threat. Among over 9,000 structures damaged or destroyed are the homes of Jen Atkin, founder of hair-care label Ouai, Hope Smith, founder of beauty brand Mutha, celebrity hair stylist Jenny Cho and Marta Freedman, the founder of gifting suite Air Milkshake. Beyoncé’s mother, Tina Knowles, who oversees the star’s hair care brand Cécred, as well as musician and wellness brand founder Jhené Aiko, also lost their homes in the fire. In order to reverse its sales decline, the company is reportedly considering selling off poorer-performing, lower-margin brands and cutting other costs. Investors want to see the fat trimmed, and more room created for future growth.

Matchesfashion shuttered; Farfetch was sold in a fire sale to Coupang; and finally, loss-making Yoox Net-a-Porter was scooped up by Mytheresa. The upheaval had a huge impact on independent brands in particular, and it remains to be seen about what a new, more consolidated market will mean for them. The MacArthur Fund acquired Uoma Beauty’s assets in December 2023, eight months after Chuter departed from the business.

The Founders Pushing African Fragrance Into the Mainstream

Viral microtrends have mostly become a useful tool to help brands and retailers market to younger shoppers. But with the apparent slowdown underway and TikTok’s fate in question, Herren has been encouraging brands to test more on Instagram and focus on longer-term strategies, rather than going viral. It’s also likely because people are increasingly aware that these microtrends don’t usually last. Microtrends have become “meme-like abstractions,” said Michael Appler, communications director at analytics firm Trendalytics.

Reselling returned apparel is a major opportunity to turn a loss-maker (that could end up in a landfill) into a money-maker. Returns usually come back with minor wear and tear — ranging from a slightly snagged thread to armpit stains or even the lingering scents of the people who may have worn the garments. What’s more, warehouse workers are usually trained to pick, pack and ship out orders, not survey dresses and pants for visible signs of wear and determine how they can be resold. At 26 percent, apparel, footwear and accessories face a higher return rate than any other category, according to the return management platform Loop Returns. That number is only likely to increase — in 2023, 18 percent of all online orders in the US were returned, up from 17 percent in 2022, according to the National Retail Federation. Convince consumers of the defined value proposition through effective brand communication.

Today, the BoF team numbers more than a hundred people in London, New York, and Shanghai. He is based in London and oversees BoF’s luxury, fashion week, sustainability, global markets and opinion verticals. In 2020, the brand hired Renaud Salmon, a former Louis Vuitton and Marc Jacobs executive to helm its creative output, and has since added body lotions and hair perfumes. Carried in upmarket retailers like Harrods and Bloomingdale’s, the brand also has 14 standalone boutiques in the countries including China, the UAE and the US. Founded in 1983, the brand places emphasis on craftsmanship and manufacturing in its home country of Oman. Top sellers include Guidance, from $380, with notes of amber, vanilla and hazelnut.

There are worries his administration could hamper progress on diversity and inclusion, women’s, LGBTQ and immigrant rights, and efforts to curb the impacts of climate change. In the lead-up to Nov. 5, fashion largely favoured neutral “get out the vote” style messaging. Our Legacy’s reputation has grown steadily since its origins in 2005 as a line of graphic T-shirts by Stockholm-based founders Hallin, Cristopher Nying and Richardos Klarén.