Latest news with #FashionDive
Yahoo
4 days ago
- Business
- Yahoo
StockX names new head of creative
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Sneaker resale platform StockX has named Daniel De Jesus Krueger as its vice president and head of creative, according to a press release Monday. He will lead StockX's global creative direction, including brand design, imagery, tone and overall storytelling. Krueger joins StockX from Fulwell Entertainment, formerly SpringHill Company, which was founded by athlete LeBron James and sports marketer Maverick Carter. In that role, Krueger led creative and storytelling for the HBO show 'The Shop,' per the release. While at SpringHill, Kruger helped expand the show into a consumer-facing brand that included live events and tours, men's grooming products and merchandise, per the release. The project also included a collaboration with Nike on a LeBron 21 x The Shop sneaker. Prior to Fulwell, Krueger worked with Nike Brand Studio through James's and Carter's media platform Uninterrupted, where he oversaw the LeBron and Kobe brands. He also worked at creative agency Laundry Service, now called Wasserman, where he led art direction for the T-Mobile and Major League Baseball partnership and helped launch House of Hoops, a collaboration between Foot Locker and Nike, per the release. 'Daniel's track record speaks for itself — he understands the power of brand storytelling and knows what it takes to get a project over the line without sacrificing creative integrity,' Nick Karrat, chief marketing officer at StockX, said in the release. 'His passion for sneaker and streetwear communities and his deep work with influential voices in culture, sports, and music make him a perfect fit for the team..' StockX was founded in 2016 in Detroit. Krueger will be based in Chicago but will travel to the Detroit headquarters regularly, per the release. Krueger's hire comes as StockX is under new leadership. The resale platform's co-founder Greg Schwartz became CEO on Jan. 1, succeeding Scott Cutler, who remains with StockX as an advisor. Karrat is also new to his position, having joined the company last year. In addition to sneakers, StockX also is a resale platform for apparel, accessories and collectibles and releases trend reports tracking the value of the top brands and products at resale. Recommended Reading Nike, StockX counterfeit lawsuit will head to trial
Yahoo
23-05-2025
- Business
- Yahoo
Recycled cotton fiber company opens facility in Central America
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Recover is launching a joint venture in partnership with textile manufacturer Intradeco meant to produce recycled cotton fiber in a new processing plant in Central America, according to a press release last week. The companies said the project is meant to revolutionize textile production in the Western hemisphere. The venture will be based in El Salvador and is set to start operation in 2025. Initial textile shredding will temporarily be managed out of a Recover factory in Spain, per the release. The partnership marks the beginning of a process designed to create closed textile loops and more circular textiles systems, per the release. The companies added that the collaboration will benefit from the growing importance of the Central America region, where many brands are establishing production hubs. It's designed to capitalize on the Dominican Republic-Central America Free Trade Agreement, or CAFTA-DR, per the release. The processing plant's location is close to textile waste and production streams, which Recover said allows the plant to operate in a cost-efficient manner with fast lead times. The companies added that the initiative will address the demand for nearshoring and help simplify brand's compliance with the Uyghur Forced Labor Prevention Act, a 2021 law that generally bans products from the region over forced labor concerns. Recover's other production hubs are located in Spain, Bangladesh, Vietnam and Pakistan. The company opened its Vietnam facility earlier this year. Recover has partnered with Perry Ellis, Land's End and Tilly's. Its investors include Goldman Sachs, Fortress Investment Group and Eldridge Industries. Recommended Reading Shein develops polyester recycling process Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Ralph Lauren revenue exceeds expectations
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Ralph Lauren Corporation beat its previous forecast, with Q4 revenue of $1.7 billion, up 8% year over year, and full year fiscal 2025 revenue up 7% to $7.1 billion, according to a Thursday earnings report. Europe led the company's sales growth with a 12% year-over-year increase to $526 million. Meanwhile, sales grew 9% to $432 million in Asia, with sales in China up more than 20%. In North America, sales increased 6% for the quarter, slowing slightly from Q3's 7% rise in the region. Direct-to-consumer and wholesale channels drove fourth quarter growth. Ralph Lauren has consistently reported revenue growth despite a wider luxury sector slowdown. 'Our strong performance in the third and final year of our Next Great Chapter: Accelerate plan underscores the growing desirability of our brand and our team's powerful execution as we navigated a dynamic global operating environment,' Patrice Louvet, president and CEO of Ralph Lauren, said in the release. Comparable retail store sales in Europe increased 18% for the period, with brick-and-mortar up 16% and digital up 25%. Wholesale revenue rose 10%, which the company attributed in part to strong re-order trends. Comparable retail store sales in Asia rose 15%, with brick-and-mortar sales for the region up 13% and digital up 27%. However, wholesale in Asia fell 33% for the period. In North America, comparable store retail sales increased 9% in Q4, with brick-and-mortar sales up 9% and digital up 8%. North America wholesale revenue grew 1%, which the company said was in line with expectations. The company forecasts a low-single-digit revenue increase for fiscal 2026, with growth weighted to the first half of the fiscal year. For the first quarter, Ralph Lauren expects revenue to increase approximately high-single digits year-over-year. The company added that based on current exchange rates, foreign currency is expected to have 'a relatively minimal impact on revenue and gross and operating margins in Fiscal 2026.' Evercore analysts led by Michael Binetti called that guidance 'eye-wateringly conservative.' In an emailed note, Binetti's team said that Ralph Lauren 'is baking in some tariff exposure, and likely has some 'sticky' China exposure (through categories like sweaters where it's hard to move production out of China).' The company should have the most gross margin tailwind from foreign exchange, Binetti added. Louvet said that Ralph Lauren was planning to remain on the offensive as it entered 2026, with a focus on 'driving our multiple engines of growth' across lifestyle, as well as geography and all the company's many channels. He added that the company 'will stay agile and prudent — leaning into our diversified supply chain, operating discipline, and strong balance sheet as we manage through ongoing macroeconomic uncertainty.' Recommended Reading Ralph Lauren announces executive changes Sign in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
Biomaterials firm shakes up leadership as it preps for commercial growth
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Biomaterials startup Gozen has named a new CEO as it prepares for 'its next stage of commercial growth,' the company said in a news release last week. Ece Gözen, the company's co-founder, is stepping down from the CEO role to become chief innovation officer and creative director. In her place, Sedef Uncu Aki will become CEO. Uncu Aki was most recently the startup's chief product officer, a role she's held since January 2024. Prior to joining Gozen, she worked at denim brand Orta Anadolu and Bossa. The leadership changes come a few months after the biomaterials company opened a 40,000-square-foot production facility in Turkey to expand the reach of Gozen's leather alternative material Lunaform at scale. The new leadership structure will support the ongoing rollout of Lunaform following the adoption of the material by brand partners Beymen Collection and Kering-owned Balenciaga, Gozen said in the release. Gozen was founded in 2022, and it made its debut during Balenciaga's Paris Fashion Week runway show in the fall of 2023. The startup is now looking to deliver Lunaform across product industries in mass, premium and luxury segments, per the release. Pelin Gözen, Gozen's other co-founder and chief operating officer, will remain in her role and continue to lead the company's product roadmap and operations. Po Bronson, managing director of SOSV, a Gozen investor, said the new team structure gives the startup the ability to scale with focus and the ability to harness its creative capabilities, 'exactly what's needed to continue growing the adoption of Lunaform.' Gozen's other investors include Happiness Capital, Accelr8 and Astor Management. Recommended Reading Sustainable materials firm Modern Meadow names new CEO Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Ferragamo revenue slips as Asia Pacific sales decline 13%
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Salvatore Ferragamo SpA reported a Q1 2025 revenue decline of 2.6% of 221 million euros, or about $247 million, for the period ended March 31, according to a Wednesday earnings release. The company's biggest pain point for the quarter was a 13% sales decline in the Asia Pacific, excluding Japan, which represents 29.3% of its regional business. The company attributed the downturn to 'overall weak consumer environment significantly impacting traffic.' Meanwhile, overall net sales in Ferragamo's DTC channel slipped 3.6% to 164 million euros, while wholesale channel sales rose 7.9% to 54 million euros for the period. Ferragamo has been without a CEO since March, when Marco Gobbetti left by mutual agreement and ended his relationship with the company. Chairman Leonardo Ferragamo has been given executive powers in the interim, and is currently supported by a transition chairman advisory committee while the company searches for new leadership. Financially, Ferragamo's first quarter looks significantly different this year than it did a year ago, when the company posted an 18.3% revenue slide, led by a 38.3% wholesale channel decline and further hurt by an 11.1% DTC sales dip. This year, the company said it's looking to focus its product strategy as well as add 'different price points and functions in all categories.' Ferragamo said in the release that its main priority for the beginning of 2025 was its leather core business. The company plans to further consolidate its handbag category and strengthen the presence of its Hug bag, first introduced in 2023. In addition, the company said it was working to optimize its women's footwear division. Ferragamo's footwear division suffered the biggest loss for the quarter, falling 9.6% to about 92 thousand euros. That decline was directly offset by a 9.6% increase to more than 96 thousand euros in the leather goods division. Apparel dropped 3% to about 13 thousand euros, while the company's silk and other goods division was down 1.9% to about 16 thousand euros. Separate from its losses in the Asia Pacific region, Ferragamo posted a 4.1% sales increase in Japan, which represents 9.1% of its business. The company said the uptick was mainly driven by tourists' purchases. Sales in Europe, the Middle East and Africa rose 9.1% in Q1. The region represents about 25% of Ferragamo's total net sales and saw upticks at both its DTC and wholesale channels due to increased U.S. tourist spending and more local purchases. North America, which accounts for just under 29% of the company's business, posted DTC and wholesale gains that led to an overall sales increase of 3.7% for the region. Elsewhere, the company's sales in Central and South America dropped 0.8%, and that region represents 7.6% of Ferragamo's business. 'The difficult macroeconomic environment, weighing on consumers' confidence, impacted the first quarter's performance, driving a decrease in traffic, only partly offset by higher conversion rate and increase in the average ticket,' the company said in its release, adding that it was mindful 'of the increasingly uncertain scenario.' Recommended Reading Apparel, luxury spending fell in the beginning of 2025: report Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
