Highend Retailers – Designs By Janie http://designsbyjanie.com/ Wed, 23 Nov 2022 14:48:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://designsbyjanie.com/wp-content/uploads/2021/06/icon-2-150x150.png Highend Retailers – Designs By Janie http://designsbyjanie.com/ 32 32 Nordstrom hurt by weak low-income demand https://designsbyjanie.com/nordstrom-hurt-by-weak-low-income-demand/ Wed, 23 Nov 2022 14:11:11 +0000 https://designsbyjanie.com/nordstrom-hurt-by-weak-low-income-demand/ Cost-conscious shoppers continue to shy away from Nordstrom, with the luxury retailer still feeling the effects of paycheck savings in the form of lower sales. “Nordstrom Rack sales were down 2% from a year ago as we continue to see slower demand, particularly within our lower-income customer groups,” the CEO said. Erik Nordstrom to investors […]]]>

Cost-conscious shoppers continue to shy away from Nordstrom, with the luxury retailer still feeling the effects of paycheck savings in the form of lower sales.

“Nordstrom Rack sales were down 2% from a year ago as we continue to see slower demand, particularly within our lower-income customer groups,” the CEO said. Erik Nordstrom to investors on a conference call Tuesday, November 22 evening.

This trend has led the company to reduce in-store order fulfillment Rack and increase the minimum order amount to receive free in-store shipping, Nordstrom said.

“These actions reduced our order cancellations, simplified rack operations and improved profitability, but negatively impacted Rack revenue growth by approximately 200 basis points,” the CEO said.

The company also saw a 16% decline in digital sales, which it attributed to its anniversary sale – its biggest sales event – moving into the second quarter, as well as reduced execution. in-store orders for Nordstrom Rack digital controls during the third quarter and at the end of its Trunk Club.

The report marks the second consecutive quarter in which Nordstrom has cited a drop in enthusiasm from its low-income shoppers as the reason for the drop in sales. While the company’s net sales rose 12% year over year in its second quarter, they began to slow in June, particularly among lower-income customers.

Those customers, the company said, typically buy from Nordstrom Rack rather than the flagship store.

Nordstrom’s report comes just ahead of a holiday shopping season in which it and other retailers could find themselves squeezed by customers who can’t or won’t spend, as PYMNTS noted earlier this month. -this.

Our latest Consumer Sentiment Survey found that two-thirds of consumers say they are “very” or “extremely concerned” about the outlook for the coming months.

Get the report: Consumer Inflation Sentiment: The Long-Run Consumer Spending Shadow of Inflation

Eighty percent said inflation makes them worried about the future. And 45% of consumers told PYMNTS that the daily struggle to keep up with bills has clouded their view of the future.

For many consumers, that future will contain a recession, which 62% of those surveyed by PYMNTS expect to see. Meanwhile, around 6 in 10 consumers said their income had at best stayed the same, compared to price increases, or at worst had fallen.

For all PYMNTS retail coverage, subscribe daily Retail newsletter.

How consumers pay online with stored credentials
Convenience drives some consumers to store their payment credentials with merchants, while security concerns give other customers pause. For “How We Pay Digitally: Stored Credentials Edition,” a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 US consumers to analyze the consumer dilemma and reveal how merchants can overcome holdouts.

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L’Oréal launches luxury beauty brand Shihyo with Hotel Shilla https://designsbyjanie.com/loreal-launches-luxury-beauty-brand-shihyo-with-hotel-shilla/ Mon, 21 Nov 2022 04:00:37 +0000 https://designsbyjanie.com/loreal-launches-luxury-beauty-brand-shihyo-with-hotel-shilla/ L’Oréal North Asia has launched a luxury beauty brand under the name Shihyo through a third-party joint venture Loshian, in a partnership with the South Korean operator of hotels and off-street shops. taxes Hotel Shilla and Anchor Equity Partners. The brand marks L’Oréal’s first beauty brand launched through a joint venture. Inspired by “Asian wisdom […]]]>

L’Oréal North Asia has launched a luxury beauty brand under the name Shihyo through a third-party joint venture Loshian, in a partnership with the South Korean operator of hotels and off-street shops. taxes Hotel Shilla and Anchor Equity Partners.

The brand marks L’Oréal’s first beauty brand launched through a joint venture. Inspired by “Asian wisdom of 24 seasons”, Shihyo is based on the naturalness of 24 herbal ingredients harvested at the height of each season.

“Rooted in exceptional traditional wisdom and knowledge of naturalness, Shihyo represents the epitome of Asian luxury beauty,” said Cyril Chapuy, President of L’Oréal Luxe.

The brand’s first flagship store is set to open at The Shilla Seoul hotel in South Korea in the coming months.

“We are fully confident that Shihyo will meet the needs of discerning consumers with new luxury beauty routines,” said Sanggyun Ahn, Managing Partner of Anchor Equity Partners.

L’Oréal North Asia, which accounted for more than 30% of the L’Oréal Group’s global sales last year, comprises five geographically and culturally connected markets: mainland China, Hong Kong, Taiwan, Japan and South Korea. South.

Earlier this year, L’Oréal’s investment arm in China, Shanghai Meicifang Investment (Meicifang), acquired a minority stake in Chinese high-end niche fragrance brand Documents as part of the group’s efforts to grow her influence in one of the biggest beauty groups in the world. markets.

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China-based furniture supplier seeks US public disclosure and seeks to raise $33 million https://designsbyjanie.com/china-based-furniture-supplier-seeks-us-public-disclosure-and-seeks-to-raise-33-million/ Tue, 15 Nov 2022 18:49:14 +0000 https://designsbyjanie.com/china-based-furniture-supplier-seeks-us-public-disclosure-and-seeks-to-raise-33-million/ HIGH POINT – Hong Kong and China-based Decca Ltd., a supplier of wooden furniture for homes and offices, has filed for IPO in the United States Decca hopes to raise $33 million by offering 6 million shares, each priced at around $5.50. Assuming a successful takeover, the company’s enterprise value would be around $187 million. […]]]>

HIGH POINT – Hong Kong and China-based Decca Ltd., a supplier of wooden furniture for homes and offices, has filed for IPO in the United States

Decca hopes to raise $33 million by offering 6 million shares, each priced at around $5.50. Assuming a successful takeover, the company’s enterprise value would be around $187 million.

According to the SEC filing, Decca will invest the money as follows:

  • Around 20% to develop more sales channels for individual customers globally;
  • Around 20% for expanding more showrooms and distributors to increase market share in North America and Europe;
  • About 20% to develop more brands and designs on products;
  • About 20% for spending on potential mergers and acquisitions, which would expand its manufacturing facilities; and
  • The balance to fund working capital and other general business needs

Decca specializes in high-end wood furniture for residences, hotels, offices and retail markets. Its main customer base is in Asia, but it does business in the United States and Europe. The company exhibits at High Point Market at its showroom located at 311 N. Hamilton St.

Decca Ltd. first entered the residential segment in 2013, when it formed Decca Home. Decca Home oversees the company’s primary residential brand, Boiler.

Related stories:

Robert Dalheim, editor of Case Goods and Global Sourcing, has been writing about the woodworking industry and business news since 2015. He graduated from Northern Illinois University with degrees in journalism and political science. Contact Bobby at rdalheim@furnituretoday.com or by calling (336) 605-3815.

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3 growth stocks to buy in the worst Nasdaq bear market in 10 years https://designsbyjanie.com/3-growth-stocks-to-buy-in-the-worst-nasdaq-bear-market-in-10-years/ Sat, 12 Nov 2022 11:45:00 +0000 https://designsbyjanie.com/3-growth-stocks-to-buy-in-the-worst-nasdaq-bear-market-in-10-years/ A bear market is defined by a decline in the value of a financial asset or index by 20% (or more). At this moment, the Nasdaq-100 The tech index is down 29% in 2022 so far, and if the year ended here, it would be its worst showing in a decade. In fact, it would […]]]>

A bear market is defined by a decline in the value of a financial asset or index by 20% (or more). At this moment, the Nasdaq-100 The tech index is down 29% in 2022 so far, and if the year ended here, it would be its worst showing in a decade. In fact, it would be the biggest annual decline since the 2008 global financial crisis.

But that doesn’t have to be bad news for investors. Bear markets tend to drive large-scale selling, which means many quality stocks are shelved – and this presents an opportunity for investors willing to put some money to work, especially over the long term.

A panel of Motley Fool contributors identified Datadog (DDOG 7.62%), pinterest (PINS 4.45%)and Arista Networks (A NET 1.24%) only three stocks to buy in the heart of this bear market. Here’s why.

A critical cloud monitoring tool, and an optimistic tone

Anthony DiPizio (Datadog): When it comes to scouring this bear market for quality opportunities, a company that has raised its 2022 sales forecast for three consecutive quarters could be a good place to start. Cloud computing has opened countless doors for small and large businesses as it allows them to move their operations online and create more customer touchpoints without the need for additional physical stores.

But a company may find it difficult to monitor the performance of its vast online presence or to learn from it. That’s where Datadog comes in – whether it’s entertainment, healthcare, gaming, or retail, Datadog’s platform is designed to quickly alert businesses to technical issues for resolution. as quickly as possible.

Some problems can be almost invisible under normal circumstances; a particular webpage may load too slowly, or a specific customer segment in a geographic location may have difficulty accessing the company’s website. Either way, it’s Datadog’s job to bring these issues to light so they can be detected quickly.

The company has just released its financial results for the third quarter (ended September 30). It increased its revenue by 61% to $437 million, leading to an increase in its full-year guidance to $1.654 billion at the high end of the range. It follows upward revisions in the first and second quarters, and Datadog is one of the few companies to strike such an optimistic tone in this difficult economic environment. Many companies actually reduce their forecasts instead.

Much of Datadog’s growth is coming from large organizations, which makes sense because the bigger the company, the more it will rely on cloud-based infrastructure. In the third quarter, Datadog had 2,600 customers spending at least $100,000 per year, representing a 44% year-over-year increase.

With Datadog stock down 61% from its all-time high, this could be a stock that was prematurely rejected. This is an opportunity for investors buying now.

A falling top social media stock

Jamie Louko (Pinterest): Investors smashed the dislike button on social media stocks as many struggled to retain users and saw ad revenue fall off a cliff. Take Metaplatforms (META 1.03%), for example. In the third quarter, revenue fell 4% year over year, and monthly active users grew only 2% over the same period.

Pinterest, however, bucks this trend. It has struggled over the past year, but the company seems to be coming out the other side of the tunnel. The social media platform saw sequential user growth of 12 million in the third quarter, reaching 445 million monthly active users.

The company also grew monetization faster than its social media rivals in the third quarter. Instantaneous (INSTANTANEOUS 7.92%) saw global average revenue per user (ARPU) drop 11% from the prior year quarter to $3.11. Comparatively, Pinterest increase its overall ARPU of 11% over the same period, to $1.56. Snap’s ARPU outside North America and Europe also fell 9%, but Pinterest’s ARPU in the same region soared 38% to $0.11.

How can Pinterest continue to attract ad spend while its rivals are struggling? CEO Bill Ready said it best during the company’s third quarter earnings call:

Pinterest is a unique place for advertisers because our users seek inspiration and discovery with intention and purpose. This has a number of implications. For starters, we have proprietary signals on the platform, such as table searches, saves, and curation, which result in very valuable and monetizable customer information for advertisers.

However, this does not come at the expense of profits. The company generated $61 million in net income and $591 million in free cash flow over the past 12 months.

Despite this competitive outperformance, Pinterest trades at just 26x free cash flow, well below Snap’s valuation of 120.5x free cash flow. With Pinterest falling alongside the Nasdaq, now might be the time to buy some shares of this top social media stock.

The Technology Powering Modern Data Centers

Trevor Jennewine (Arista Networks): Arista specializes in data center networking. It provides the switches, routers, and wireless access points needed to create and connect networks, along with adjacent software for network automation, telemetry, and security. Arista first introduced its technology in the cloud, but it has since expanded to enterprise data centers and campus workspaces.

Management says its main innovation is the Extensible Operating System (EOS), software that relies on artificial intelligence to keep networks performing and secure. A single version of EOS runs on every Arista switch and router, allowing customers to integrate their entire IT ecosystem — from public clouds and private data centers to corporate campus workspaces — into a unified network.

This differentiates Arista from traditional vendors like Cisco, which tend to complicate network management by using different operating systems in different environments. Arista removes this complexity. EOS works everywhere, making it easier for IT teams to update software, test new features and automate workflows. This reduces the total cost of network ownership for customers.

Arista has capitalized on this advantage to become the leader in high-speed data center networks. It currently holds 41.5% market share in 100G, 200G and 400G switches (the fastest widely adopted switches on the market), while Cisco, which takes second place, holds 22.5% share in market. This leaves Arista well positioned for the future. Trends such as cloud computing and data-intensive applications (such as artificial intelligence and 5G) will continue to strain data centers, creating a need for faster networking solutions.

Despite economic headwinds, Arista recently reported stunning third quarter financial results. Revenue soared 57% to $1.2 billion and GAAP earnings climbed 61% to $1.13 per diluted share. But Arista still has plenty of room to run. Management estimates its market opportunity at $35 billion by 2025, and this figure is expected to continue to grow as data centers require faster networking solutions to keep pace with the ever-changing computing world. . That’s why this growth stock is worth buying today.

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10 things you need to buy at the dollar store to save big this year https://designsbyjanie.com/10-things-you-need-to-buy-at-the-dollar-store-to-save-big-this-year/ Thu, 10 Nov 2022 03:16:15 +0000 https://designsbyjanie.com/10-things-you-need-to-buy-at-the-dollar-store-to-save-big-this-year/ Houston, TX – It’s the start of the week and Paula Whitfield, mother of two fast-growing boys, Robby and Myles, is making her shopping list. His very first stop, surprise! The Dollar Tree website to check prices for what she needs. “I just have to be aware of every dollar right now with the way […]]]>

Houston, TX – It’s the start of the week and Paula Whitfield, mother of two fast-growing boys, Robby and Myles, is making her shopping list.

His very first stop, surprise! The Dollar Tree website to check prices for what she needs.

“I just have to be aware of every dollar right now with the way inflation is going and everything is so expensive. I mean, saving every dollar is more important than ever,” Paula says. time to shop around for prices at five different stores.”

Paula is a small business owner who operates FasTest Labs in Midtown.

So, as a wife, mother and leader, she is acutely aware of our 40 year high rate of inflation, rising food prices, rising children’s clothing AND rising furniture. Of house.

“Yes, I actually go to the dollar store to buy cleaning supplies and I buy gift bags there because I always run to a birthday party and I also buy cards there because I don’t don’t want to have to spend six or seven dollars on a card at the pharmacy,” Paula said.

Now, with the help of shopping savings expert Nora Kapche, The Coupon Contessa, we’re about to show you the ten things you simply need to buy at the dollar store to survive this inflation storm. .

At number one, that’s about as timely as it gets, Christmas decorations.

“Bill, holiday decorations are one of the best buys we can find at Dollar Tree,” Nora said.

And we’re not just talking about cheap standard glass bulbs. Here you can find high-end, rich and really creative tree ornaments, wooden holiday signs, shiny and hanging displays, and many Christmas characters that we all love.

“They even have the Grinch,” Nora said.

Then festive gift bags, for Christmas, birthdays, whatever. And they have some big names here to choose from, including Disney brands.

“It’s amazing, you have brand characters like Disney characters, Frozen and Mickey Mouse and Jurassic Park, The Minions. It’s fantastic,” Nora said.

They say education is the best gift you can give yourself, so school supplies are next on our list.

“It’s huge. School supplies. You can shop all year round from top brands for $1.25 and you get big names like Sharpie, Crayola, Bic, Elmer’s, and more,” Nora said.

How about hair supplies for women?

No, we’re not talking about hair products, shampoos and sprays, because everyone has their favorite brands.

Instead, look at scrunchies, scarves, hair clips, brushes of all kinds, combs and mirrors.

I mean, why pay $6-10 for a mirror when you can get it for about a dollar?

“Yeah, you can find some wonderful brands at the dollar store too. Just for example, Goody has these awesome hair clips. And look at this, it’s a great find, 12 combs for $1.25, you can’t not beat that,” Nora said.

How much do you spend on glassware?

Here they have wine glasses, margarita glasses, decorative glasses and they are all for about a dollar.

And there’s more.

“Look at these water canisters for the table. They look so much classier than having a plastic bottle on your table at parties and such,” Nora said.

Hey, let’s get organized and stop paying a flat fee just to keep your stuff in order!

Our next big savings discovery is organizational products.

“Yeah, why pay a fortune in certain stores? It’s all color coordinated. You can use them under your cabinets or in the laundry room to put the kids’ toys in,” Nora said.

Another household necessity and we all use them and you can find great discounts on them, the next category is kitchen utensils

But Nora says you need to be selective and look for real quality as opposed to junk food.

Nora suggests you handle the product and feel it for its sturdiness and durability.

She also suggests buying name brands.

“Again, these are a great buy, cookie cutters, scissors, serving utensils. I found avocado tool and name brands, like McCormick, Betty Crocker. They have a really wide variety but you have to look through it and see the quality. Pick it up and hold it in your hand,” Nora said.

Next… No, you won’t find any designer brands here, but if you’re looking for cheap sunglasses that aren’t cheap, the dollar stores have them!

“Here you can get a variety of colors and styles and they’re only $1.25 so it doesn’t matter if you lose them,” Nora said.

Now wrapping up at number nine on our list, we have helium filled party balloons.

I bet you weren’t expecting this one.

“Yes, they can be found for $4 to $5 or more each in a normal store, but here they’re only $1.25 and they last for several days,” Nora said.

And number ten on our list of great deals, greeting cards for birthdays, Christmas and special occasions. They look really good and yes you can find big name brands just like you find in card shops.

“Look at this bill, it’s Hallmark greeting cards here, two for $1 and sometimes $1 each. They’re wonderful cards and anywhere else you’d pay $5 or more easily,” Nora said.

In the end, Nora and I purchased a total of 58 items in the categories just described here and spent a grand total of just $76.

Then we went to another very popular discount store, where many of us shop every week, and bought the same or very similar items, and the same number of items, and the total general in the other store was over $276. .

That’s about three and a half times more than what we spent at Dollar Tree.

Merry Christmas and happy shopping!

Copyright 2022 by KPRC Click2Houston – All Rights Reserved.

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Culture Kings opens its first US store in Las Vegas – Footwear News https://designsbyjanie.com/culture-kings-opens-its-first-us-store-in-las-vegas-footwear-news/ Fri, 04 Nov 2022 22:06:48 +0000 https://designsbyjanie.com/culture-kings-opens-its-first-us-store-in-las-vegas-footwear-news/ The first Culture Kings store in the United States is about to open. The first flagship of Culture Kings, an AKA Brands company, occupies approximately 14,000 square feet of retail space at the Forum Shops at Caesars in Las Vegas. Inside, visitors can find a professional music recording studio, a 75-foot wall of hats, a […]]]>

The first Culture Kings store in the United States is about to open.

The first flagship of Culture Kings, an AKA Brands company, occupies approximately 14,000 square feet of retail space at the Forum Shops at Caesars in Las Vegas. Inside, visitors can find a professional music recording studio, a 75-foot wall of hats, a half-court basketball court, daily live DJs, “The Vault” jewelry room offering a selection of high-end jewelry, a “Secret Room” with rare and sought-after jewelry. -after streetwear items and more.

Additionally, Culture Kings said its new gate will feature more than 2,000 styles of clothing, headwear and footwear. Additionally, the retailer said it has more than 18 international brands designed exclusively by Culture Kings in store, such as Carré, GOAT Crew and Saint Morta, and includes styles from 60 leading third parties.

“It’s always been my vision to launch stores in the United States, and there’s no better city than Las Vegas,” Culture Kings CEO and co-founder Simon Beard said in a statement. “The Culture Kings Las Vegas flagship store reflects our retailtainment philosophy and allows us to share the ultimate Culture Kings brand experience with our American audience. I am confident that this one-of-a-kind retail concept will drive in-store and online growth and accelerate our brand awareness in the United States. »

Culture Kings in Las Vegas will open Nov. 5 at 11 a.m. PT, and there will be an invitation-only after-party sponsored by Moët Hennessy that will feature a performance by DJ Drama.

“This is a pivotal moment for Culture Kings. Consumers are interacting with brands on a different level, and Culture Kings is transforming traditional retail into an unforgettable and immersive experience that can’t be replicated. I’m thrilled to see the brand take off in the United States and around the world,” said Jill Ramsey, CEO of AKA Brands, in a statement.

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Flashy Asus ROG Strix G15 gaming laptop with AMD Ryzen 9 5980HX and Radeon RX6800M is getting a massive 35% discount https://designsbyjanie.com/flashy-asus-rog-strix-g15-gaming-laptop-with-amd-ryzen-9-5980hx-and-radeon-rx6800m-is-getting-a-massive-35-discount/ Tue, 01 Nov 2022 22:20:36 +0000 https://designsbyjanie.com/flashy-asus-rog-strix-g15-gaming-laptop-with-amd-ryzen-9-5980hx-and-radeon-rx6800m-is-getting-a-massive-35-discount/ Best Buy has discounted the Asus ROG Strix G15 by 35% and is offering the premium gaming laptop at its lowest sale price yet (Image: Asus) The rather rare “all-AMD” configuration of the Asus ROG Strix G15 is closing in on the all-important $1,000 mark thanks to a new sale at Best Buy that drops […]]]>
Best Buy has discounted the Asus ROG Strix G15 by 35% and is offering the premium gaming laptop at its lowest sale price yet (Image: Asus)

The rather rare “all-AMD” configuration of the Asus ROG Strix G15 is closing in on the all-important $1,000 mark thanks to a new sale at Best Buy that drops a whopping $600 or 35% off the capable 15-inch game . laptop made by famous Taiwanese PC manufacturer.

A sub-$1000 price tag is the sweet spot for many gamers looking for a decent mid-range gaming laptop. However, in some cases, it might make sense to exceed that budget-conscious price limit by a small margin in order to get your hands on a more upgradeable high-end machine with a nicer screen. This exact argument could be made for an ongoing deal on the popular Asus ROG Strix G15 gaming laptop at Best Buy.

The major US electronics retailer is currently selling the aforementioned Asus ROG Strix G15 with the speedy AMD Ryzen 9 5980HX octa-core processor and the acclaimed AMD Radeon RX 6800M dGPU with 12GB of GDDR6 VRAM and a high TGP of 145 watts for just United States. $1,099 including free shipping or in-store pickup when stock permits. That’s the lowest price we’ve ever seen for this particular configuration of the 15-inch gaming laptop, which features 16GB of DDR4 memory, a 512GB SSD, and a decent QHD display with a Fast 165Hz refresh and 100% coverage of the sRGB color space according to the manufacturer. Most notably, this deal is still US$200 cheaper than a wildly popular deal for the Asus ROG Strix G15 from early September.

We thoroughly tested a slightly different version of the Asus ROG Strix G15 last year, and found that this powerful machine has high CPU and GPU performance and very good build quality. We also liked the gaming laptop’s good input devices, above-average battery life as well as fairly flashy RGB lighting. Unfortunately, this AMD configuration of the Asus ROG Strix G15 comes without Thunderbolt connectivity. But due to the steep discount, this gaming laptop is still a great choice for AMD fans and all other gamers who don’t necessarily need the best raytracing performance from Nvidia’s RTX graphics cards.

Grab the Asus ROG Strix G15 Advantage Edition on sale for US$1,099 at Best Buy

Disclaimer: Notebookcheck is not responsible for price changes made by retailers. The discounted price or offer mentioned in this article was available at the time of writing and may be subject to time restrictions and/or limited unit availability.

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The hazards of microtrends and unethical fashion industries https://designsbyjanie.com/the-hazards-of-microtrends-and-unethical-fashion-industries/ Sat, 29 Oct 2022 22:29:28 +0000 https://designsbyjanie.com/the-hazards-of-microtrends-and-unethical-fashion-industries/ (Pixabay/islandworks) Balenciaga’s Fall/Winter 2022 fashion show briefly sparked controversy when a model appeared on the catwalk donning a $1,790 trash bag. But while the wastefulness of this stunt was unusually egregious, it’s nothing new to the luxury fashion world. Luxury fashion brands are known for their garish and mercurial trends. Additionally, fast fashion conglomerates such […]]]>

(Pixabay/islandworks)

Balenciaga’s Fall/Winter 2022 fashion show briefly sparked controversy when a model appeared on the catwalk donning a $1,790 trash bag. But while the wastefulness of this stunt was unusually egregious, it’s nothing new to the luxury fashion world. Luxury fashion brands are known for their garish and mercurial trends. Additionally, fast fashion conglomerates such as Zara, Fashion Nova and Shein have started to cheaply emulate these trends to a wasteful new level.

Luxury and fast fashion brands are guilty of fueling trend cycles that prioritize profit margins at high human and environmental cost. The emissions emitted during production and the fuel needed to transport the products result in an exorbitant environmental cost for garments that we often use once or twice, or not at all. A University of Arizona study reveals that fast fashion is the second most environmentally damaging industry, contributing 10% of total carbon emissions and 20% of global wastewater. In addition to pollution, the United States also dumps 11.3 million tons of clothing waste annually, much of which was fast fashion purchased in line with trends set by luxury fashion.

Clothing collections are traditionally released at the start of each season, but this trend has drastically diminished with the introduction of e-commerce stores like PrettyLittleThing and H&M. It has been reported that Zara releases 24 collections a year, and H&M follows closely behind with 16. Internet fads desperate to sport the new look. . The surge in microtrends on the internet is driving users to browse aesthetics as quickly as possible, leading to the creation of “Tik Tok Trend Trackers” that track the latest trending cycle. Countless trends have run wild on TikTok, starting with the year 2000, the flirtatious aesthetic, the dark university, the cottage-core and, more recently, the “clean-girl” aesthetic. All of these trends have piled up in landfills almost as quickly as the aesthetic has appeared online.

The human cost of the fast fashion companies’ continued takeover of the fashion industry is high, including labor rights violations and exploitative labor practices. Shein workers are forced to work 18 hours a day, 7 days a week, with only one day off per month. A single mistake at these Chinese factories can result in a fine of up to two-thirds of a worker’s daily wage, which Shein says violated their company’s code of conduct. In a factory, workers are only paid four cents for each item they produce. This operation allows Shein to produce huge volumes of garments; a survey by The Public Eye found that Shein lists nearly 10,000 articles on its website daily. Instead of valuing human lives, fast fashion companies continue their downright abusive practices – doing everything to buck trends and entice customers to buy.

Sooner or later, every piece of clothing ends up either in a thrift store or in a landfill. The speed at which mainstream clothing is overtaken by the trend cycle and then phased out almost as quickly as it is purchased is appalling. Companies like H&M, American Eagle and Shein have tried to address climate concerns. In particular, Shein recently launched its reselling platform, Shein Exchange. However, the speed of microtrends can render the exchange platform useless if Shein does not reduce the amount of inventory they produce, which can be as much as 100 items for each of their 600,000 products on their storefront.

While Shein’s negative impact is undeniable, it’s also important to hold other companies accountable. The fast fashion range includes Wish, Fashion Nova, H&M, Zara, Forever 21 and Boohoo, among others. While sources like news articles, environmental organizations, and even TikTok can expose fast fashion brands undercover, customers shouldn’t rely on these sources to tell them when a brand is unethical. fashion. Incredibly low prices, a large number of offers, a rapid rotation of product availability, a lack of commercial transparency and cheap fabrics should all tell consumers that the company is probably an exploitative fast fashion machine.

Fast fashion is littered with unethical practices, but the luxury brands that inspire their products are no less guilty of fostering overconsumption and harming the environment. For example, between 2013 and 2018, Burberry burned $28.6 million worth of unwanted products to avoid underselling them, force scarcity, and maintain a veneer of prestige. After public backlash, Burberry ceased this practice. Unfortunately, this is also common with brands such as Chanel and Louis Vuitton. High-end brands should be held accountable, as Burberry was, for their unethical practices and alternatives to their business models should be explored.
Companies deserve criticism, both through social media advocacy and through legislative initiatives. Many countries deal with fashion ethics through their own legislation, such as France, where companies will be required to include the specific climate impact of each garment on its label, the details of which are to be determined by the French government.

However, solutions to these problems must also involve individual consumers. Companies provide products, but consumers provide and maintain demand for the business model to succeed. While examples like French legislation provide hope for the future, we as fashion-conscious students should be responsible for engaging in the many concrete opportunities that exist to fight back. For example, students can buy second-hand clothes from the Thrifthouse online marketplace. It’s a great way to refresh a wardrobe without becoming complicit in fast fashion. At Emory University, the Clairmont Thrift Shop is a place for students to donate and trade in used clothing. For the more creative, Crochet Emory also organizes workshops to learn how to make your own clothes.

Resisting the exploitation of the fast fashion industry doesn’t have to mean constant thrift shopping and tailoring. Rather than reinventing our wardrobes every month, it’s time to destigmatize re-wearing clothes. It doesn’t have to be boring – the pieces can be styled in countless ways and as part of different outfits. Plus, instead of trying to follow trends, we can develop our own individual, signature styles. Turn this vicious cycle into a virtuous one – reuse, reuse or buy sustainably, and the fast fashion industry will have one less person to fuel its abuse.

Sustainable consumption pathways leave room for maneuver – although it is not the responsibility of individuals to stop climate change or human rights abuses, it is advisable not to ignore what we are on we have control. Hold legislators accountable by supporting causes like the Center for Sustainable Fashion and focus on your individual impact. Whether it’s avoiding unethical brands like Shein, learning to sew, exploring new thrift stores in Atlanta, or simply choosing to buy less, we can resist the exploitation of the fast fashion market and reclaim the freedom of intentional consumption that so many brands have denied us.

The editorial above represents the majority opinion of Wheel’s editorial board. The editorial board is made up of Isabelle Bellott-McGrath, Rachel Broun, Evelyn Cho, Ellie Fivas, Marc Goedemans, Aayam Kc, Elyn Lee, Saanvi Nayar, Shruti Nemala, Nushrat Nur, Sara Perez, Ben Thomas and Kayla Robinson.

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Phipps expansion paves way for mall’s luxury transformation https://designsbyjanie.com/phipps-expansion-paves-way-for-malls-luxury-transformation/ Wed, 26 Oct 2022 21:17:45 +0000 https://designsbyjanie.com/phipps-expansion-paves-way-for-malls-luxury-transformation/ Simon Properties Group caused a stir in 2018 when Chef Nobu Matsuhisa, Robert De Niro and Meir Teper joined Phipps Plaza and Simon executives to usher in the mall’s most ambitious expansion since Simon bought the property in 1992 A new Nobu restaurant and hotel, the Lifetime Athletic complex with a new food hall and […]]]>

Simon Properties Group caused a stir in 2018 when Chef Nobu Matsuhisa, Robert De Niro and Meir Teper joined Phipps Plaza and Simon executives to usher in the mall’s most ambitious expansion since Simon bought the property in 1992 A new Nobu restaurant and hotel, the Lifetime Athletic complex with a new food hall and a 12-story office tower, known as One Phipps Plaza, have been announced to replace the Belk department store.

Construction was delayed due to the coronavirus pandemic in 2020, but the project was back on track in early 2021. We toured the new facility in October with Phipps Plaza manager Eric Howard. We couldn’t access the Nobu or Lifetime buildings since the Simon group has already handed over the keys to the new owners. Nobu and Lifetime are scheduled to open to some extent in November 2022, and Novelis, the main tenant of One Phipps Plaza, will begin occupying its offices around the same time. The 46,000 square foot food hall that will occupy the base of the Lifetime Tower will open in early 2023.

The connection between the shopping center and the new buildings will be opened as new tenants open. The second floor of the mall will connect directly to the second floor of the Lifetime Tower, and the first floor connection will remain closed until the food hall opens next year. Shoppers and diners will access the green space between Lifetime and One Phipps Plaza through a 2-story section of the mall that branches off from the main hallway. This section will also house a new Hermès boutique. The green space will be the main artery between the shopping center and the restaurant and the Nobu hotel.

Luxury brands line up

The Nobu property and the state-of-the-art Lifetime resort are big news for Buckhead, and they’re big draws for luxury retailers. Mr. Howard told me that plans for two stores were to be added to the One Phipps Plaza tower to meet the demand for retail space. Brands like Hermès, Dior, Givenchy and Alexander McQueen will soon join mall staples like Sacks Fifth Avenue, Tiffany & Co. and Prada. Mr Howard said the entire first floor of the mall will be occupied by luxury brands within the next 12 to 18 months.

Phipps Plaza had a record year of sales in 2020 and improved on those numbers in 2021. High sales numbers are obviously attractive to potential tenants, but the opportunity to be associated with unique properties like a restaurant and Nobu Hotel (one of only 5 Nobu hotels in the United States) has made Phipps Plaza Atlanta’s most desirable property for luxury retailers. Check out our photo gallery and be sure to check out the new additions in person in November.

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Russia after the departure of Swiss watchmakers – Eurasia Review https://designsbyjanie.com/russia-after-the-departure-of-swiss-watchmakers-eurasia-review/ Sun, 23 Oct 2022 02:36:27 +0000 https://designsbyjanie.com/russia-after-the-departure-of-swiss-watchmakers-eurasia-review/ The luxury watch market in Russia collapsed following the departure of Swiss brands following the war in Ukraine. The consequences for social and cultural life in Moscow are considerable. By Konstantin Startsev* Shortly after the start of the war in Ukraine last February, Swiss watch companies halted their business activities in Russia. Stores have closed, […]]]>
The luxury watch market in Russia collapsed following the departure of Swiss brands following the war in Ukraine. The consequences for social and cultural life in Moscow are considerable.

By Konstantin Startsev*

Shortly after the start of the war in Ukraine last February, Swiss watch companies halted their business activities in Russia. Stores have closed, imports of new models into the country have stopped, and retailers have raised prices sharply. Not only has it become impossible to buy new luxury watches directly from the manufacturer, but the departure of the biggest brands is sure to have a negative impact on the Russian luxury market.

A look at the facts and figures gives an idea of ​​the scale of the upheaval underway. Swatch Group opened an office in Moscow in 2006; the Richemont group did the same a year later. Before that, the watch market was only represented by retailers. The arrival of large watch companies took business to a whole new level: boutiques and in-house services were born; limited editions were issued to celebrate particular events; brand ambassadors, owners and CEOs dropped by for tours.

Until recently, virtually all Swiss watch brands, whether owned by companies or independent manufacturers, were represented in Russia, either through retailers or through their own presence.

According to the annual report of the Federation of the Swiss Watch Industry, exports of wristwatches to Russia increased by 30.5% in 2021 compared to 2019, all before the Covid-19 pandemic. Last year, Russia was the world’s 17th largest market for Swiss watches, with exports worth 260.1 million Swiss francs ($260.1 million), representing an estimated retail value more than half a billion francs.

After adding exports of non-Swiss brands and investments in infrastructure (shops, service and staff), the size of the market is even more impressive. Although Morgan Stanley analysts estimate that sales in Russia of Richemont, Swatch and independent watchmakers represent only 2-3% of their total turnover, the attention paid to the Russian market has been considerable in recent years.

But that all ended on February 24. Since that date, watch companies have refused to deliver watches to Russia. Subsequently, Switzerland adopted European Union sanctions, which include a ban on the export of luxury goods worth more than €300 (CHF292), which means a halt to deliveries of a large part of the products of Swiss watch manufacturers.

In March, Rolex – which, according to consumer data platform Statista, represents 25% of the Russian luxury watch and jewelry market – announced the suspension of its deliveries to Russia. Swatch Group (Swatch, Omega, Longines, Tissot, Breguet) and Richemont (Cartier, Van Cleef & Arpels, Vacheron Constantin, Montblanc, Panerai) had already taken the plunge.

As a result, watch exports to Russia have fallen by 95.6% since February. In August, only 3,149 watches with a total value of CHF 229,000 were delivered to Russia. This means that the average price of each watch was 73 CHF.

Besides the fact that it is now difficult and expensive to buy a high-end watch in Russia, six other consequences can be listed which are not immediately obvious, but which should be borne in mind in order to understand this that awaits the industry and its customers. in the years to come.

The official market for Swiss luxury watches will disappear

The most successful retailers, who have done well in peacetime, are selling their stocks and looking for ways to circumvent the sanctions. For example, Mercury, the distributor of Patek Philippe, Rolex, Hublot and other major brands, has doubled or even tripled the prices of the models available to avoid ending up with empty display cases in the short term. Secondary market players and pawnbrokers have also found a new lease of life, but there is no longer a formal, structured market for luxury watches.

There will be no substitution by imports from countries that have not imposed sanctions on Russia, because Swiss watches, as you might expect, are virtually unchallenged in the luxury sector. Despite the presence of a few watchmaking talents in Russia, it is impossible to create a brand or a watchmaking factory there in a few months. Russia has gone from being one of the 30 largest watch markets in the world to the periphery, without boutiques, without representative offices and without after-sales service.

Social life in the capital and support for cultural projects will disappear

Audemars Piguet will no longer support the Bolshoi Theater or even dedicate a watch model to it – as it did with the limited edition Bolshoi from the Audemars Piguet Code 11.59 collection. Rolex will no longer be the official timekeeper of the Formula 1 Grand Prix, traditionally held in Sochi in September. After 14 consecutive years, the magnificent vintage car rallies set up by the Scheufele family, owners of the Chopard brand, will no longer take place. There will be no museum exhibits and nothing interesting or unique in the shops.

There will be no more parties for customers, no more visits from directors, owners or ambassadors of world famous brands. The level of cultural activity is likely to decrease. Moscow’s social life can turn into a series of provincial parties reminiscent of the 1990s.

Watch journalism will disappear

Watchmaking journalism, once high-level because local journalists were invited to judge international competitions, will also disappear. For example, a dozen Russians are members of the Grand Prix d’Horlogerie de Genève, which is a lot for a market.

The supply of information in Russia on major world watchmaking premieres is likely to dwindle, and all industry news will be secondary – at best translated and at worst picked up by emerging bloggers who have neither participated in international fine watchmaking fairs or visited factories. . These bloggers will instead glean their “knowledge” about watches from rap and Instagram. In the past, national PR agencies could give big agencies a hard time: but without these high standards of PR, we risk going back to where we started 20 years ago.

The watch community will disappear

The audience of collectors, watch aficionados and boutique customers carefully nurtured by the brands will disappear, and they are mostly very wealthy people from various industries. Each one was worth its weight in gold, but all of them quickly disappeared from marketers’ radar.

The high-end commercial real estate market is under serious threat

Watch shops were largely responsible for the appearance of Moscow’s main shopping streets, such as Stoleshnikov Lane and Petrovka. Until the end of the year, the brands will keep these premises and will continue to pay their Russian employees, so their presence will be felt for some time to come. But if they leave permanently, these premises will remain empty for an indefinite period of time and, with new owners, they risk losing the chic and glamor of true luxury because there simply will not be enough luxury brands for them. to fill in.

The market for counterfeit watches will flourish

The risk of coming across counterfeits has already increased because, in the absence of official sales channels and services, it will only be possible to obtain a guarantee of authenticity for watches on the basis of an examination expert. There will also be problems with after-sales service. In general, the black market will thrive: watches will be brought into the country on the wrist while boxes and documents will be carried in luggage, as was the case in the 1990s. Today, it is possible to order a new model from black market dealers who say they are ready to deliver the watch of your choice at a premium of 30-50% within a month or two.

The watch culture in Russia has not had time to fully assert itself, and in most cases watches are just a means of displaying social status. Experts who have spent decades gaining knowledge and experience in the luxury watch market will be forced to turn to other professions. Russian cultural institutions will lose loyal and generous sponsors who previously supported memorable events. The world of luxury magazines in Russia has collapsed, all because the advertisers who until recently were so generous are no longer there. The hope remains that this situation will not last long and that a recovery in the Russian market will be around the corner. After all, Swiss watches are loved and happily worn in Russia.

*Konstantin Startsev, journalist and member of the Geneva Watchmaking Grand Prix

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