Photo: Alison Diener/Getty Images
These are the stories that made headlines on Friday.
Why fashion embraces declining growth
The term “degrowth,” according to economic anthropologist Jason Heckel, means “a planned reduction in the use of energy and resources designed to rebalance the economy with the living world in a way that reduces inequality and improves human welfare.” brands like Ralph Lauren They explore what it might look like to embrace low growth. Halide Alagöz, Ralph Lauren's chief product and sustainability officer, said, "We've seen our finances improve even though we're producing fewer units compared to five years ago." New York times
Tom Ford's acquisition is all about fragrance
Estée Lauder Companies successfully acquired Tom Ford For $2.3 billion, the main focus of the deal seemed to be relationship fragrance. According to industry insiders, fragrance makes up about 50% of Tom Ford Beauty Sales, with an unexpected increase during the pandemic. With the acquisition of the entire Tom Ford brand, JPMorgan principal analyst Andrea Teixeira estimated the deal would save Estée Lauder between $60 million and $70 million in annual pre-tax royalties. Bright
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Inside Burberry's Growth Strategy
In an interview with Business of Fashion, barbaricNew CEO Jonathan Akeroyd outlines his growth strategy for the brand along with its new designer Daniel Lee. Burberry hopes to build on the brand's British identity and boost revenue to $4.75 billion annually by the mid-term. "It's not just about the magic touch, if you will, but understanding what the DNA of the brand is," said Akeroyd. Using Lee's expertise in making accessories and ready-to-wear commercially successful (see: Bottega Veneta), Akeroyd prioritizes categories such as handbags and knitwear. fashion business
says Great Jones x Lisa Jah
Image source: Great Jones
Great Jones and Lisa say Gah are launching a collaborative group
Great Jones x Lisa says Jah Set includes two new limited edition Dutch Ovens hand-painted with floral designs inspired by the 1960s. Besides the Dutchess ($190) and Baby Dutch ($150), the set also includes an embroidered apron that's available in two colors ($98 each). You can shop the collection now at greatjonesgoods.com. fashionista inbox
What the new Converse sneaker silhouette says about women's shoes
the talkIts latest version, the Run Star Legacy CX, is more durable and versatile than the classic styles. The new look is a response to the Converse consumer's need for a shoe that offers options. Tamara Odom, the brand's director of global product marketing, said, "...this whole idea of 'beauty is pain' is just something that's now a thing of the past. We don't want to feel pain anymore...we have to be able to offer options." for [our female consumer] You don't have to sacrifice [beauty or comfort]. hippie
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