Ian Bickley

Lever Style announced our first half 2024 results last week, and I spoke about them on CNBC. Compared to the same period last year, our sales were down 5% to $95.3m while earnings dropped 26% to $4.3m. Our results were heavily affected by the chapter 11 bankruptcy of our key customer Bonobos’s parent company Express Inc. If not for the Express bankruptcy and the resulting held shipment and $2.4m of bad debt provision, we would have yet again hit record revenues and earnings for the 6-month period. This potential performance underscores the strength of our core business and the underlying growth momentum. Express’s bankruptcy is symptomatic of softening consumer demand, which can fall further if the US fails to achieve the coveted soft landing.  Many brands and retailers are feeling the pinch, and an increasing number of them are losing credit insurance coverage. Now is not the time for aggressive organic growth but rather for thoughtful consolidation and strategic alignment. https://lnkd.in/gDMTCqZh 

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One day after EssilorLuxottica announced its deal to acquire Supreme from VF Corporation, Meta, Facebook's owner, is in talks to acquire a stake of about 5% in the eyewear company. Based on recent market value, a roughly 5% stake could be valued at around $5 billion, a relatively small for Meta, given its market value of around $1.2 trillion. EssilorLuxottica makes Meta's Ray Ban smart glasses and sales of the glasses have exceeded expectations. The devices, an important part of Meta’s hardware strategy, allow users to take photos and listen to music with the frames of their glasses, among other features. Maintaining ties with Luxottica is crucial for the success of smart glasses devices and the company’s ambitions to build the so-called metaverse, which is a term used to describe people interacting in a 3-D version of the internet simultaneously. A third generation of Ray-Ban Meta glasses, expected to include a small screen display, is expected to be ready for consumers in time for the 2025 holiday season. The allure of Luxottica’s Ray-Ban brand is important to the success of a tech device that users are expected to wear on their faces. Luxottica’s ownership of LensCrafters, the prescription-eyewear retailer, also plays a key role in selling the Ray-Ban Meta to users who require prescription lenses. The two companies began working together several years ago for the release of the first generation Ray-Ban Stories smart glasses, which went on sale in 2021. The initial device struggled to catch on with consumers, and among the glasses that were sold, only 10% of the Ray-Ban Stories were actively used by their purchasers. The second-generation Ray-Ban Meta glasses went on sale in September and have done significantly better than their predecessors. The Ray-Ban Meta glasses operate more quickly and have better cameras than their predecessor. The Ray-Ban Meta also includes nascent generative #AI technology that allows users to ask the device for information about the things in front of them, such as the breed of a cat. The Ray-Ban Meta glasses have proven popular for users who want to shoot hands-free videos of their children playing and first-person videos of themselves while going on roller coasters or riding bikes. Meta hasn’t said how well the Ray-Ban Meta glasses have sold, but CEO Mark Zuckerberg said in April that the device was doing well and that a market for that type of device was developing sooner than he would have expected. Meta sells its own devices to employees at a discount, and offers the Ray-Ban Meta glasses at a 15% discount with a limit of 3 pairs per employee. The new glasses have proven so popular internally that some employees have tried to get extra pairs from their colleagues after hitting the 3-pair limit. #strategy #technology #smartdevice https://lnkd.in/ePwG-bSc?

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Beauty in Chaos Fashion rule no 1 is that there are no rules. In fact, Spring 2025 menswear collections show it. Marine Magic with MSGM MSGM's sea-themed show had polished lines, stripes and playful hats. The graffiti-filled backdrop and live paintball added a splash of fun. I never thought fashion could be so interactive. Fendi's Classroom Chic Fendi's SS25 collection blended polished suits, asymmetric tops and iconic "F" caps, mixing sophistication with a playful touch. Back to school never looked so good. JordanLuca’s Punk-Inspired Collection JordanLuca combined romance and rebellion with halter tops, cropped shorts and spiked mohawks, showing tension and beauty. Punk and ballet? To me, it seems a match made in runway heaven. Unconventional Beauty with Martine Rose Martine Rose's Milan debut featured prosthetic noses( is it a new big trend?), matted wigs and edgy designs, focusing on fun and individuality. This shows that beauty need not be conventional. Prada’s Youthful Energy Prada’s show celebrated youthful energy with techno music and a unique catwalk, featuring crinkled suits, red jumpers and creative footwear. Finally, is it an excuse not to iron? The Spring 2025 shows highlight a bold break from tradition, embracing fashion's unpredictable and chaotic state and reminding us to find beauty in the unexpected and to express our individuality. Are you ready to embrace the unexpected, especially in your wardrobe? #textiles #textileindustry #fashion https://lnkd.in/dfQuQf_w

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The key factor pushing synthetic diamond prices lower will not be short term over-inventory. It will be the continued severe decline in the cost of producing synthetics and the fact that B2C competition will pull B2C prices down to B2B levels. Watch WalMart and you will see the price of synthtics drop to tens of dollars per carat. Jewelers selling synthetics at outrageous markups are destroying their customer base. The higher they go the harder they will fall. The sooner synthetic sellers go out of business the better.

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A steep, uphill climb. Victoria’s Secret & Co. relaunch of their once ubiquitous activewear line VSX, as triumphant an announcement as it may seem, is one that will most likely have an uphill climb ahead. For a starter, the activewear market and category have moved on significantly over the years while VS was grappling with their own existential crisis: 1️⃣  First and foremost, formidable brands have entered the arena, think Vuori or Alo Yoga, just to mention some of the fiercest players out there. Their product offerings, the experience they offer to consumers and their community building efforts are nothing short of exceptional. Swaying customers away from best-in-class experiences promises to be the toughest climb for the lingerie behemoth 2️⃣ On top of that, the overall market has been showing signs of slowdown if not contraction, after the boom of the pandemic and immediate post-pandemic years, with customers now gravitating more towards ‘casualwear’ categories, such as pants and skirts, vs the sporty leggings look of past years Activewear is still a very attractive market, one where we will continue to see new and 'new-ish' players, like VSX, pop up. However, as other markets if not more, it is one where only the fittest thrive. Read more about Victoria’s Secret relaunch of their once beloved VSX activewear line at the Fashion Network article linked below in the comments👇 #retail #lingerie #activewear #sportswear #fashion #brandextension #linkedinpostsbymariopace

For those of us working in Sustainability in fashion it can feel lonely. When I worked at Theory 19 years ago, one of my responsibilities was to develop all the trims. I insisted that all metal trims be "nickel free" Nickel is a hard silvery-white metal that may cause irritation to the skin. Exposure can harm the lungs, stomach, and kidneys. Exposure to nickel may lead to cancer. Workers may be harmed from exposure to nickel.This was not popular because nickel finishes are super shiny and appeals to design sensibilities and cheaper. Luckily I had the authority to insist that we only use nickel free products. Eight years ago when I was heading up production at 3.1 Phillip Lim we were faced with the dilemma of a coating on a fabric that would make it waterproof but contained PFAS, versus a coating that would only be water repellent that did not contain PFAS. Again I insisted we should proceed to not use the waterproof coating despite sales would like it to be waterproof. PFAS is a forever chemical that has health effects on immunological, developmental or reproductive, hepatic, hormonal and carcinogenic – basically everything from asthma to testicular cancer. There is now the beginnings of a ban on them. Often there may not be regulations or awareness of the harm many of the materials or substances used in the production of clothing. Sustainability at a fashion company is not a department that drives revenue, your actions are often not popular like turning over rocks in the supply chain. But your work is important and vital. As I reflect on actions I made in the past this week, I am grateful that I insisted and that they had impact for both people and the environment.

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It was such a privilege to share some of the work we are doing at Cascale, with Fibre2Fashion, especially to provide some updates on the new member engagement model we are implementing... While it is not an easy task, and we are still learning, it is essential that we strive to ensure balance and inclusivity, that enable voices to be equally heard in the work we do in global value chains...our new approach is designed to support this vision... #traceability #circularity #higgindex #sustainablesupplychains #collaboration

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Our CEO, Rufenacht Daniel, was recently featured on the Blue Cast podcast by TENCEL™ Denim, sharing key insights on sustainability in the textile industry. Key takeaway: Daniel believes true change must come from companies, not consumers. Reflecting on his experience, he highlighted the importance of responsible corporate action in transforming the supply chain—especially in chemical use and waste reduction. Daniel also discussed the increasing role of legislation and investor pressure in driving sustainability, with significant changes expected by 2030. 👇 Listen to the full episode to hear the bluesign vision for the future of sustainable textiles. #bluesignDenimInitiative #Podcast

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The investment on becoming more sustainable in the fashion industry is still extremely small. Even a brand like Ganni whom many consumers see as sustainable published in their report for 2023 that they spent 0.60% of total revenue on responsibility down from 2022 1.10%. This week seeing the closure of brands such as Mara Hoffman is also depressing. The only effort to move the needle has mainly been driven by a combination of legislation and more mindful production of goods. The system is still flawed due to its drive for continuous projection of double digit sales increases. The saddest part is the huge increase of product thru Shein and Temu flooding the market with cheap, questionable labor and possible toxic product at an accelerated rate never seen before. For those who are not aware From 2017 through to the first half of 2023, Shein revenues grew 20x, from $1.5 billion to $40 billion, surpassing Amazon as the single most downloaded shopping app in the US while racing past Zara for the overall number one spot in US fast fashion.  The fair wage and abuse of garment workers is another problem created by low priced fast fashion. The take away sadly from this years Global Fashion Summit is that though there is some investment in innovation we simply are not moving as an industry fast enough to reduce emissions nor improving the system to produce less. I wish on this Friday I had better news but sadly we need consumers and leaders to drive real change.

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In a step towards further consolidating luxury retail, the involvement of Amazon and Salesforce in this acquisition, coupled with a substantial technology investment, raises the question: could this initiative rescue the luxury retail market? #retail #saksfifthavenue #amazon #salesforce #neimanmarcus #retailtechnology

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As Stitch Fix continues to try mending itself, the online fashion company’s fiscal fourth-quarter earnings update looked mixed at best with some areas beating expectations and others setting off investors’ nerves. On Tuesday, the San Francisco-based online styling service reported revenue of $319.6 million over the three months ending on Aug. 3. Net loss clocked in at 29 cents per share, or $35.7 million, though that shifted to 12 cents when accounting for restructuring costs and discontinued operations. (In the first quarter, when Stitch Fix shuttered its U.K. business, it had to conform to certain accounting and reporting requirements.) Gross margin jumped 50 basis points year-over-year, landing at 44.6 percent. Continue reading about Stitch Fix on WWD: https://lnkd.in/eQjpMUj9

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Here are some interesting stories from the world of retail for Saturday, October 5: 🫱🏻‍🫲🏽 SHEIN’s senior executives, including founder Sky Xu, are expected to meet potential US investors over the coming week as the fashion giant moves closer to a potential listing in London. 👚 The American Apparel & Footwear Association (AAFA) has recommended all of Meta’s social media platforms for inclusion on the upcoming “notorious markets” counterfeiting list. ⛳️ A logo dispute between Tiger Woods’ apparel company Sun Day Red and Tigeraire, a company that makes cooling products for athletes, is now in the hands of the federal court system. 🚢 The port strike has ended. But it will still take a while for the flow of goods to return to normal. Ahead of the strike various logistics experts had said it would take three to five days to recover from any one day the ports were shut. 🚚 After delivering frozen foods to doorsteps from iconic yellow trucks for more than 70 years, Yelloh — previously known as Schwan’s Home Delivery — plans to shut down in November. ✂️ Poshmark this week lowered seller fees, replacing its 20% take in the US with a new structure. Sellers will now be charged 5.99% of the order total plus a fixed fee depending on the price of the product sold. 🏬 Hamilton Marketplace, a prominent shopping centre in New Jersey that boasts a 99% occupancy rate and over 1m sq ft of retail space, has been acquired by Paramount Realty for over $100m. 👜 Frasers Group has acquired £4m worth of shares in Mulberry, increasing owner Mike Ashley's stake to approximately 37%. The move comes shortly after Frasers' £83m takeover bid was rejected by Mulberry's board. 💵 Despite high prices and rising home costs, American spending on burgers, drinks and travel powered much of last month’s strong hiring even as other economic engines like manufacturing, tech and finance have idled. 🦆 Swedish clothing retailer H&M plans to phase out its use of virgin down and feathers, materials harvested from ducks and geese, by the end of 2025. The company aims to use only post-consumer recycled down and feathers. 🍺 Constellation Brands has exceeded Wall Street estimates with its second-quarter results, driven by strong demand for its beer brands, particularly Modelo Especial and Pacifico. ⌚️ UK-based Watches of Switzerland has acquired watch enthusiast platform Hodinkee, which operates a website, magazine, brand partnerships division and insurance business, for an undisclosed sum. 📈 America's job market roared back in September as US employers adding 254,000 jobs, according to the Bureau of Labor Statistics. 🇭🇰 Hong Kong's struggling retail market is prompting landlords to offer significant discounts, creating opportunities for brands to expand. #retail #retailnews #economy #DailyRetailNews

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Fashion Resale, Circularity & Government's onus is on the rise. Do you see it👇 Consider the Resale Market Size Figures - Global Market Value: Estimated at $197 billion in 2023. - Projected Growth: Expected to reach $350 billion by 2028. - Annual Growth Rate: CAGR of 12% from 2023 to 2028. Key Geographies North America - Market Size: Significant growth, with the U.S. market projected to reach $73 billion by 2028. - Drivers: Strong consumer demand for sustainable fashion and affordability. Europe - Market Size: Rapid growth driven by eco-conscious consumers. - Drivers: High awareness of environmental impact and preference for circular fashion. Asia - Market Size: Emerging as a key market with increasing adoption of resale fashion. - Amongst other Asian economies India stands a bit apart. - India with a young median age of 32, rising income levels, and a hyperconnected population builds aspirations, dreams, and the purchase quotient for resale as well as a good case for circularity. - Drivers: Growing middle class and digital adoption. South America - Market Size: Increasing interest in resale fashion. - Drivers: Economic factors and rising sustainability awareness. Reasons for the Rise Sustainability - Environmental Impact: Reducing waste and extending the lifecycle of fashion items. - Consumer Awareness: Growing concern for the planet among younger generations. Affordability - Cost Savings: Access to high-end brands at lower prices. - Economic Factors: Consumers seek value for money during economic uncertainty. Digital Platforms - Convenience: Online platforms like The RealReal, Vestiaire Collective, and ThredUp making resale accessible. - Technology: AI and AR enhancing the shopping experience. Changing Consumer Behavior - Conscious Consumerism: Preference for ethical and sustainable purchases. - Gen Z and Millennials: Leading the shift towards secondhand fashion. Brand Collaborations - Luxury Brands: Gucci, Burberry, and Stella McCartney partnering with resale platforms. - Fast Fashion Brands: H&M launching Sellpy and COS introducing "Resell." Government Regulations - Supportive Policies: EU's Corporate Sustainability Due Diligence Directive. - Incentives: Encouraging circular economy practices. The Carousel is a deep dive and covers the following topics: 1. The Rise of the Resale Fashion Market 2. Key Drivers 3. Luxury Brands Embracing Resale 4. E-commerce Platforms Leading the Way 5. Fast Fashion Brands Exploring Resale 6. Benefits for Brands 7. Challenges in the Resale Market 8. Consumer Behavior Trends 9. Technology's Role in Resale 10. The Future of Resale Fashion 11. Impact on Traditional Retail 12. Sustainability Implications The next 5 years are a prep to get into the mode of an organizational sustainable mindset and the actual change across the value chain, brands, consumers, and retail will come after. Would you agree? #management #luxury #fashion

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📣 Attention Apparel Manufacturers! 🚀 Struggling with sales, low capacity utilization, or low profits due to visibility issues? Wastage cutting into margins? ZYOD is here to help! Seeking manufacturers with available factory capacity to partner with and overcome these challenges. If your current capacity utilization is below 30%, we want to hear from you! What We’re Offering: - Free ZYOD ERP Implementation: Seamlessly track production cycles with our state-of-the-art ERP system at no cost. - Global Market Access: Reach top markets worldwide, including Japan, the US, Australia, and more. - Innovation-Driven Partnership: Join forces with ZYOD to set new industry benchmarks. Factory Requirements: - Machines: 50 to 500 machines - Locations: Manesar (Gurgaon), Sitapura (Jaipur), Tirupur - Working Capital: 45 to 60 days - Certifications: Sedex, etc. Why Partner with ZYOD? - Mutual Growth: Push boundaries and create new success stories together. - Broad Reach: Expand market reach and innovate alongside ZYOD. Interested? If this opportunity suits you, drop a comment below or fill the attached form. Our team will reach out promptly. Let’s drive success together! 🌟 #ZYODPartners #FactoryChampions #InnovateWithZYOD #ApparelManufacturing Check the form here: https://lnkd.in/gBywR_da Mayank Malhotra Ankit Jaipuria Rajesh Meena Shaloo Naugain Deepak Mishra ZYOD

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I appreciate this India-based interview and audience for "Under the Banyan Tree: Buyers and Suppliers in Fashion." In generous length, it previews the origins, influences and participants in forthcoming assessment of a fashion system. No one owns a system, even if perceived as retail-led. The missing or muted voice, and source of highest untapped value, is the global supplier community. The International Trade Centre (UN) and International Apparel Federation (45 producer countries) are committed to diffusing innovation that begins upstream in manufacturing. The limitation of labor-cost arbitrage for brands is also the start of a “Productivity Imperative” aligned with the UN's Sustainable Development Goals for 2030. InternationalApparel Federation (IAF) International Trade Centre STTI - Sustainable Terms of Trade Initiative BGMEA Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH SPESA (Sewn Products Equipment & Suppliers of the Americas) Cem Altan Matthijs Crietee Miran Ali (米然·阿里）

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The domestic footwear industry took a major leap forward this week as companies from across the country met in Los Angeles for USFMA's Fall Meeting, its largest ever, to seek new partnerships that strengthen the domestic supply chain, onshore more manufacturing, and sharpen advocacy efforts. “We said, 'listen, we can’t play just defense—we want to grow this industry, so we are being more proactive in recruiting new members, getting out there and highlighting what’s going on in our industry,'” USFMA executive director Bill McCann told Kate Nishimura of Sourcing Journal. “You can see at meetings like this supply chains for new shoes being formed right in front of your eyes.” Added Steve Gardner, head of domestic research and development for New Balance's MADE in the USA line: “We’re in the process of opening our new facility in New Hampshire, which we are so excited about, but we’re also looking at what the future can be." Gardner said it was especially "eye-opening" to see the burgeoning ecosystem of new and innovative footwear companies. “It’s a young energy, a bit of high-tech energy as well,” he said. “Getting educated, learning, coming out here—for me, was eye-opening.” “We see those capabilities coming online — and we see us working with people to bring those capabilities back," he continued. "Some of those guys are here today, without question. What we want to be able to do is have that local access. It makes more sense that if we’re producing in the USA to get everything from here. It just shortens our supply lines, shortens the time, and it also makes it easier working with those suppliers when they’re local.” Gardner believes that the future of American footwear manufacturing will be a powerful mixture of heritage brands joining forces with new domestic players. “Combining some of the great old school companies that you have in our industry . . . with some of this new energy out here — it’s going to create the next wave of what MADA in the USA can be," he said. That also means using their collective voice to push for policies that incentivize companies to bring more work home. “I think there’s a real opportunity to build this industry, not just protect it, but grow it, and bring back some of the knowledge and technology we’ve lost over the last 30 years,” said USFMA policy director Karlee Popken. “The passion of the folks that are here…is really what drives us to make strides towards better trade policy and better domestic policy.” #footwear #manufacturing #onshoring #supplychain #robotics #trade #innovation #workforce #textiles https://lnkd.in/eWUAFaYx

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Introducing our new VP of Product, Fion Lam! Fion brings a deep understanding of the merchandising challenges modern apparel + footwear brands face — and the product chops required to develop elegant solutions to complex problems. Her time at iconic companies like Faire, Square, and Accel crystallized many foundational skills, none more important than the understanding that great products are rooted in customer empathy. Read the Q&A to: - Learn more about her product philosophy - Understand why solving the big data problem is so important for merchandising teams - Get her prediction about when retail waste will be a thing of the past https://lnkd.in/g-xwR_Ns

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