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Growing List of Fashion Names Struggling from Pandemic
China's young spenders are full speed with circular fashion.
With the current hit of job losses, salary cuts caused by pandemic, consumer economy began to spin in reverse. People are no longer buying, but selling. Many are offloading their possessions by following the new motto and that is Less is More!
The adrenaline rush that once came with binge-shopping is gone, shared a shopaholic from China, Tang Yue with Fashion Network. She bought everything from Chanel lipsticks to Apple’s latest iPad in the past three years.
“The coronavirus outbreak was a wake-up call,” she said. “When I saw the collapse of so many industries, I realized I had no financial buffer should something unfortunate happen to me.”
And with so much time spent at home these days, people sort through things they don’t feel they need. And the lockdown allowed consumers a lot of time and reasons to reflect and consider what is important right now.
Posts with #ditchyourstuff hashtag is at the top among Chinese users of social media. Bargain hunting online has become a new habit.
According to Alibaba who shared the news with Reuters, China’s biggest online site Fish hit a record daily transaction volume in March. Some predict that the new pattern may be the permanent change for some people who will not return to their old ways of spending.
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Giambattista Valli Appoints New Chief Executive Officer
Charlotte Werner is named new Chief Executive Officer by the orders of house’s new inverstor Artemis, in hopes to boost the management of the house. Werner is the first CEO for the brand.
“With her long experience and deep expertise in luxury, in particular in accessories and leather goods, Charlotte Werner will be responsible for implementing the next growth phase of the Maison,” Valli and Artémis said.
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Even Zara Is In Trouble
H&M NOW RENTS
Swedish fast fashion giant H&M now entering the rental market. Yes, the new concept is that selected bridal dresses, exotic tops, and collection of 50 frocks can now be rented from H&M Stockholm store as part of customer loyalty membership program for 35 Swedish kroner.
“We started our circularity project three years ago. Now we want to explore rental. We believe in rental, for exclusive and occasional pieces. We chose these pieces precisely because these are quite expensive items that were often worn only once,” explained Pascal Brun, H&M’s French-born head of sustainability.
Members are allowed to rent up three pieces per week. Service comes with personal stylist. Rental items come from sustainable materials and come from H&M’s conscious exclusive collections from 2012 to 2019.
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$100 Million investment for Lebron James to Build Media Emipire.
Together with business partner Maverick Carter, Lebron James announces the formation of media company SpringHill, Co and $100 million investment. How will this media company differ from others? According to company’s Instagram post, it will have an unapologetic agenda.
”Big news‼️ Announcing the next chapter as THE SPRINGHILL COMPANY: a media company with an unapologetic agenda - a maker and distributor of all kinds of content that will give a voice to creators and consumers who’ve been pandered to, ignored, or underserved. “
“When we talk about storytelling, we want to be able to hit home, to hit lots of homes where they feel like they can be part of that story,” James told Bloomberg. The company already signed deals with Walt Disney and Netflix and working on a new basketball drama starring Adam Sandler according to Bloomberg.
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Remembering Maya Angelou - Poet, Storyteller, Activist
Maya Angelou before a Calypso performance at the Village Vanguard in New York City. | Photo by G. Marshall Wilson, via Art.com.
Civil rights activist, award-winning author, poet, singer and actress, we remember Marguerite Annie Johnson Angelou, known to her fans and followers as Maya Angelou. A poet and Nobel laureate won multitude of awards and honors. Maya was raised in rural Stamps, Arkansas by her grandmother and uncle during the depression. I Know Why the Cages Bird Sings is an 1969 memoir written by Maya Angelou which became the first nonfiction bestseller by an African American woman. Maya took all her tragedies and turned it into one of the most widely read memoirs of the past few decades.
It’s quite extraordinary that Maya could overcome being abused as a young child and still manage to graduate school two years ahead of schedule at the highest academic level. Since then Maya was the first colored streetcar operator in San Francisco and later on the poet laureate that people recognize to this day.
Maya was never afraid to speak her mind. Angelou defended the rights of women, young people and the ignored. “She has much to teach this generation and generations unborn about what it means to be an authentic person, and the power of the genuine.” said the Rev Jesse Jackson.
Opran Winfrey, has called Angelou a mentor, says that “Maya Angelou is not what she has done or written or spoken, it’s how she did it all. She moved through the world with unshakeable calm, confidence, and a fiery, fierce grace and abounding love.”
“I’ve learned that no matter what happens, or how bad it seems today, life does go on, and it will be better tomorrow. I’ve learned that you can tell a lot about a person by the way he/she handles these three things: a rainy day, lost luggage, and tangled Christmas tree lights. I’ve learned that regardless of your relationship with your parents, you’ll miss them when they’re gone from your life. I’ve learned that making a ‘living’ is not the same thing as making a ‘life.’ I’ve learned that life sometimes gives you a second chance. I’ve learned that you shouldn’t go through life with a catcher’s mitt on both hands; you need to be able to throw something back. I’ve learned that whenever I decide something with an open heart, I usually make the right decision. I’ve learned that even when I have pains, I don’t have to be one. I’ve learned that every day you should reach out and touch someone. People love a warm hug, or just a friendly pat on the back. I’ve learned that I still have a lot to learn. I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
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FACE MASK IS THE FUTURE
It’s known that vaccines takes years , but we must function as a society and function safely. The pandemic gave a new meaning to facial masks. Once a theatrical aspect of fashion runways, now an every day necessity. It is important to remember that masks must be worn to protect another from being infected, thus cutting down the number of people getting infected.
People are already getting used to the idea of wearing a mask and are experimenting new styles, colors and patterns. And since fashion often reflects the world around it we predict the designers will soon present some luxe masks. Here are a few.
Neiman Marcus Buys A Stake In Online Secondhand Store Fashionpile
We’re at a tipping point in the resale ecosystem.
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Designer Demna Gvasalia in his signature black baseball cap and oversize hoodie.