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Fashion 2022-02-18

Hermès reports results

18 February 2022, Mumbai:

Hermès International powered ahead in the fourth quarter, with revenues climbing 11 percent versus a year ago, and 28.4 percent ahead of 2019, to 2.38 billion euros. For the full year, the French maker of status handbags and silk scarves saw revenues approach 9 billion euros, jumping 41.8 percent compared to 2021 and 33.4 percent compared to 2019.

The numbers came in slightly under HSBC forecasts.

Axel Dumas | BoF 500 | The People Shaping the Global Fashion Industry

Net profit leaped 76.5 percent to 2.45 billion euros, while recurring operated income soared 78.2 percent to 3.53 billion euros, with the company touting “remarkable sell-through” of its collections and touting a recurring operating margin of 39 percent, up 8 points versus 2020 and 5 points compared to 2019.

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Alex Dumas, executive chairman, christened 2021 as an “exceptional year,” crediting “abundant creativity, unique know-how and the quality of our materials” for driving the growth of its 16 departments, or métiers.

The company cited “dynamic growth in Asia and the Americas, where revenues vaulted 54.1 percent and 24.4 percent respectively in 2021 versus 2019.

Hermès highlighted “the sustained performance in Greater China, Australia and Singapore” for the strong Asia tallies, which exclude Japan.

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*Figures mentioned in the above article have been sourced from finance.yahoo.com article.

Fashion 2022-02-18

Leaders will forge alliances for a new era to tackle fashion’s social and environmental issues

18 February 2022, Mumbai:

Global Fashion Summit, the leading international forum for sustainability in fashion, will convene core stakeholders across fashion, parallel industries, investment, policy and NGOs to forge alliances for a new era.

The Summit is presented by Global Fashion Agenda, the non-profit organisation that fosters industry collaboration in fashion to drive impact, under the patronage of HRH The Crown Princess of Denmark. Global Fashion Summit: Copenhagen Edition 2022, will return in physical form on 7-8 June in the grand setting of the Royal Opera House, Copenhagen, Denmark.

Global Fashion Agenda appoints Federica Marchionni as CEO – GLOBAL FASHION AGENDA

Tickets are on sale from today. Formerly known as Copenhagen Fashion Summit, the forum has been renamed to manifest the organisation’s global outlook and reach. Global Fashion Summit will build on the 13-year history of the renowned Copenhagen Fashion Summit by strengthening its representation and connections with diverse perspectives from across the world.

Therefore, the Summit will be hosted in various key cities in the future, in addition to its flagship edition in Copenhagen. Under the theme ‘Alliances for a New Era’, Global Fashion Summit: Copenhagen Edition 2022 will endeavour to form previously inconceivable alliances within the fashion industry and examine atypical cross-industry alliances, in a bid to accelerate the transition to a net positive reality.

ALSO READ: Copenhagen Fashion Week AW22

The theme will underly all elements of the Summit. It will be represented on the Summit main stage during plenary sessions consisting of high-level keynote speeches and panels.

Federica Marchionni, CEO, Global Fashion Agenda, says: “‘Alliances for a New Era’ epitomises our current climate – we are living in a time when the majority are ready and willing to evolve but we need to break down silos and pre-competitive barriers to enact truly pervasive change.

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Fashion 2022-02-18

Leaders will forge alliances for a new era to tackle fashion’s social and environmental issues

LONDON FASHION WEEK (LFW): autumn/winter 2022

16 February 2022, Mumbai:

Ever since pandemic has struck in recent years, contextually the fashion shows & events have moved to a partly digital format/ hybrid as a new normal aiming at making event/s accessible for one & all.

But against this new emerging paradigm nothing to take away from mankind's keenness, nothing to beat an engaging, physical-fashion fashion week, that will forever bring vibrance to the city.

London Fashion Week is a digital gender-neutral platform.

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*The next edition of London Fashion Week will take place from 18th - 22nd February 2022 showcasing both menswear and womenswear, as a digital first event.

The LFW digital platform is a year-round platform and is constantly updated for retailers, media and consumers to view and buy collections.

London Fashion Week Goes Digital as One Gender Neutral Platform - 10 Magazine

The platform will continue to serve as the Official Digital Hub and will be freely accessible to everyone, industry professionals and global fashion consumers alike, enabling collaboration and bringing together fashion, culture and technology.

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*Figures mentioned in the above article have been sourced from London Fashion Week article.

Fashion 2022-02-16

LONDON FASHION WEEK (LFW): autumn/winter 2022

THE METAVERSE FASHION SHOW HAS BEEN RESCHEDULED FOR FEBRUARY 24TH -26TH, 2022

15 February 2022, Mumbai:

February 24 & 26 VIRTUAL EVENT

Attend a fashion show in the Metaverse, meet the designers, shop in their boutiques and explore the future of fashion. Limited availability! Each session is 55 mins, with full access to the entire experience.

Digital Fashion Week New York

Limit 100 visitors per session. Step into the future with a Metaverse fashion show featuring some of the world's best digital designers.

ALSO READ Virtual Fashion.Tech: Innovative and engaging Metaverse Networking Platform

Wander through the exquisite Metaverse fashion experience, chat with the designers, visit their boutiques, buy NFT fashion, take a ride in a virtual hot air balloon and watch a fashion show with music from DJ Cherish the Luv.

POAP airdrop for all Metaverse fashion attendees.

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*Figures mentioned in the above article have been sourced from Digital Fashion Week article.

Fashion 2022-02-15

THE METAVERSE FASHION SHOW HAS BEEN RESCHEDULED FOR FEBRUARY 24TH -26TH, 2022

Language, Footwear brand launches new casual collection

17 February 2022, Mumbai:

Language has launched a new casual footwear collection named Drivers for Men. The collection includes footwear shaped from premium suede or grain leather with rubber-grommet soles, assuring comfort within luxury.

Drivers from Language are versatile and comfortable for casual outings. Some drivers are a combination of suede and grain leather, saddle detail, and rubber sole. There are drivers designed to be a head-turner, crafted from authentic suede leather and elevated by a diverse colour palette.

Hand-stitched with fine grain leather, and rubber sole for everyday use, the footwear is made of soft suede and designed with metal trims. They are available at Language’s exclusive brand outlets in Chennai and Hyderabad and in more than 200 multi-brand outlets across the country.

Language’s shoes are crafted with artisanal precision and offered at fair prices. Its factories use clean energy and non-polluting manufacturing processes. Its expert craftsmen ensure that every shoe they make stands toe-to-toe with ones that are made in Italy.

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Fashion 2022-02-17

Victoria's Secret new patent

16 February 2022, Mumbai:

Victoria's Secret New Patent Hints That Its Axed Annual Fashion Show Could Return In The Metaverse.

Victoria’s Secret is the latest retailer to join the metaverse.

A series of trademark applications this month show it plans to sell virtual goods and run virtual fashion shows.

Victoria’s Secret axed its annual runway show in 2019.

victoria's-secret-new-patent-hints-that-its-axed-annual-fashion-show-could-return-in-the-metaverse

Victoria’s Secret killed its annual fashion show in 2019 but a new patent filing suggests that it could one day come back in the metaverse. The lingerie giant filed a trademark application with the US Patent and Trademark Office on February 8, which was later shared on Twitter by trademark attorney Josh Gerben.

ALSO READ: Victoria’s Secret opens website in India

According to the documents, Victoria’s Secret has filed trademarks to sell virtual goods such as clothing, undergarments, and footwear. In addition, it is looking to trademark “retail store services featuring virtual goods” and “entertainment services” such as photos, images, videos, and recorded footage, which it will use in virtual fashion shows, it said.

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*Figures mentioned in the above article have been sourced from Digital California News article.

Fashion 2022-02-16

African Development Bank’s Fashionomics Africa, partners, launch new sustainable fashion competition with $6,000 in cash prizes

15 February 2022, Mumbai:

The African Development Bank Fashionomics Africa initiative’s second online competition is offering $6,000 total in cash prizes, mentoring, new branding packages and other support for winning African designers of sustainable and circular fashion.

Fashionomics Africa, in collaboration with the United Nations Environment Programme, Parsons School of Design, strategic consulting and communications agency BPCM, and the Ellen MacArthur Foundation, invite interested African fashion brands to apply to the sustainable fashion online competition.

African Development Bank Group (AfDB)

Entrants must be pursuing environmentally friendly measures, sustainability, and circular economy actions to qualify. The designer or design team submitting the “best sustainable design” will win $3,000 along with other prizes. Two other competition finalists will take home $1,500 each, plus other support.

The competition celebrates African fashion brands that will change how we produce, buy, use and recycle fashion and that encourage a more sustainable shift in consumer practices. “Sustainability is the present, not the distant or even the near future.

ALSO READ: Polish Retailer LPP Partners With Cotton made in Africa

It is where we are now, and it is vital that we open our eyes to what the fashion industry already has to offer. By embracing the industry’s existing resources, we are promoting circularity at the most fundamental level,” said Amel Hamza, Acting Director for Gender, Women and Civil Society at the African Development Bank.

A five-person judging panel representing the African Development Bank and competition collaborators will announce the three finalists by 22 March 2022.

The finalists’ entries will be posted on the Fashionomics Africa digital marketplace and mobile application (https://bit.ly/3BfEH4D) for public vote between 22 March 2022 and 7 April 2022. Polls close on 7 April at 23:59 GMT.

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Fashion 2022-02-15

African Development Bank’s Fashionomics Africa, partners, launch new sustainable fashion competition with $6,000 in cash prizes

British Fashion Council (BFC)/VOGUE DESIGNER FASHION FUND 2022

17 February 2022, Mumbai:

Established in 2008, the BFCVDFF supports creativity in business and aims to celebrate exceptional talent and empower businesses to play their part in positive growth through bespoke mentoring and awarding of a £200,000 cash prize. The Fund receives the generous support of British Vogue, Burberry, Clearpay, Paul Smith and Rodial. This year’s judging committee is chaired by Edward Enninful OBE, Editor-in-Chief of British Vogue and European Editorial Director, Vogue.

ALSO READ: AS BREXIT IMPACTS MARGINS, BRITISH BRANDS EYE GERMANY FOR EXPANSION

The committee comprises of experts from across the fashion industry: Caroline Rush CBE, Chief Executive, British Fashion Council; Maria Hatzistefanis, Founder/CEO, Rodial; Elizabeth von der Goltz, Chief Commercial Officer, Matches Fashion; Julia Sarr-Jamois, Fashion Director, British Vogue; Lauren Indvik, Fashion Editor, Financial Times; Rod Manley, Chief Marketing Officer, Burberry; Sarah Harris, Deputy Editor & Fashion Features Director, British Vogue; Sarah Mower MBE, Chief Critic, vogue.com & BFC Ambassador for Emerging Talent.

Edward Enninful OBE, Editor-in-Chief of British Vogue and European Editorial Director, Vogue & Chair of the Fund Committee, said: “The BFC Vogue Designer Fashion Fund is an integral initiative that supports emerging talent in the UK fashion industry.

Congratulations to all the shortlisted designers who are a true reflection of the outstanding creative talent in the UK."

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Fashion 2022-02-17

British Fashion Council (BFC)/VOGUE DESIGNER FASHION FUND 2022

TCNS Clothing Co's earnings for the third quarter fy22

16 February 2022, Mumbai:

For the third quarter ending December 2021, TCNS Clothing Co saw a 98 percent increase in net profit to Rs 25 crore ($3.6 million), up from Rs 13 crore the previous year.

The company's sales for the quarter increased by 38% to Rs 329 crore, up from Rs 237 crore in the previous fiscal year's similar period. "The offline channel recovered back quickly to surpass 90% against pre-covid levels," TCNS said in its quarterly statement on Q3 results.

TCNS Clothing Company Ltd | LinkedIn

Following the second wave, the recovery was more fairly spread across city tiers and store kinds. Our website outperforms other platforms and currently generates high teen amounts of internet money."

ALSO READ: Indian Terrain Q3 FY22 results

"D2C business is driving growth," it continued, "continuing to provide more than 50% of online sales.

" TCNS Clothing now has over 400 exclusive brand outlets, over 1,300 large format retail outlets, and 1,400 multi-brand stores across India for its numerous brands.

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*Figures mentioned in the above article have been sourced from Equity Bulls Money Control & Fashion Network article.

Fashion 2022-02-16

Piyush Goyal x Fashion Designers Brainstorm: How India can become ''Global Fashion Capital"

14 February 2022, Mumbai:

India should display its products globally alongside prominent fashion houses, opines Piyush Goyal, Minister for Textiles and Commerce and Industry. The minister also urged designers to ensure that each of the 75 lakh identified craft people earns Rs 1,000 more every month.

He urged National Institute of Fashion Technology alumni to come together to bring change the entire craft ecosystem.

Goyal advised each alumnus to adopt a craft person and devote time to educate the non-privileged section of the society on various aspects of design, management and technology.

ALSO READ: Piyush Goyal addresses IIT Kanpur’s Policy Conclave 2022

He appreciated Indian designers for their passion for crafts and emphasized that the art, craft, tradition and heritage of Indian designers need to be respected.

Goyal also appreciated the idea of wearing khadi/ handloom one day a week and the sense of designers having pride in the nation. It opens up a lot of possibilities and encourages designers to play a huge role in the industry’s development, he added.

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Fashion 2022-02-14