LVMH Acquires Minority Stake in Our Legacy BoF

Last year, perfume sales rose 12 percent to $9.5 billion in the US alone according to consumer insights firm Circana. It’s been almost a year since Italian prosecutors linked Armani and then Dior to sweatshops on the outskirts of Milan in an investigation expected to bring up to a dozen more brands under the microscope. In response, officials and industry leaders have rushed to tighten controls over the luxury supply chain. Leverage owned outlets and resale platforms to attract entry-level shoppers who may one day buy at full price. Additionally, resale can give brands more control over the quality of their secondhand goods in circulation, with the bonus effect of increasing circularity.

This Week: Trump’s Tariffs Return; The Oscars; Paris Fashion Week

Offering a fantastic selection of surplus BOF furniture, including branded and reupholstered products from Humanscale, Orangebox and Vitra at best discounted prices. If you require any of the Eco Shop products reupholstered to match your interior colour schemes our in-house professional team can also transform the product, refreshing with minimum upcharges and backed by shortest lead times. He added that some of Archive’s brand partners want revenue from resale to account for as much as 20 percent of their overall sales. Fashionphile is not the only online resale player eyeing offline opportunities.

• According to investigators in Milan, factories producing for the brands were operating illegally and exploiting workers.
• We create workspaces for today considering well-being, sustainability, collaboration and business performance – we constantly go beyond our clients expectations.
• All the while, online resellers are increasingly competing with traditional brick-and-mortar secondhand retailers, whose businesses have also flourished in recent years.
• Others are traditional stores in high-foot traffic areas, though every location will serve both shoppers and sellers.
• Viral microtrends have mostly become a useful tool to help brands and retailers market to younger shoppers.
• Though there’s sustainability benefits, the primary advertised incentive for brands is to improve their bottom lines.

Executive Editor Brian Baskin and Senior Correspondent Sheena Butler-Young speak with DTC correspondent Malique Morris about how the luxury marketplace has changed under its new owner, Coupang. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors. Some stores have burned to the ground in the upscale Pacific Palisades neighborhood being decimated by a still-growing wildfire. The company reported a long-awaited lift in net sales in its third quarter results, with increases from skincare leading the way, but clouds persist over its China recovery. The quarterly and annual budget performance analysis of the various performing sectors is shown in the budget implementation report.

Manager, Sales – Mens/Young World

The three-day event was a celebration of exciting new products, sustainable initiatives and fabulous… Boasting truly timeless designs – where comfort and functionality are perfectly balanced. Paris-based spatial and lighting design firm Matière Noire is the first company to join the program. The designer speaks to BoF’s Imran Amed on the past, present and future of the Roman fur and leather goods house that carries her family name. On the fifth day of Milan Fashion Week, designers at Bally, Ferragamo and Dolce & Gabbana explored the elasticity of brand DNA.

The newer platforms aren’t yet a major growth driver for all of their brand partners. Halara, for example, sells on Bazar to meet internal sustainability goals instead of meaningfully increasing sales. Still, the startups are launching services to make it easier for labels to maximise their sales growth potential from reselling returned wares. Brands should see increased resale revenue as a result, while Revive can move closer to its goal of generating nine figures in revenue in the next five years. In addition to being a marketplace, Bazar lets brands send customer returns directly to its network of warehouse partners where data is pulled about those items’ condition and then listed onto Bazar’s site. It currently has two stores in Stockholm, one in London and Berlin, and three in South Korea operated by local distribution partner Handsome Corp.

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Reselling returned products can also be a source for finding new customers as it remains difficult for brands to appeal to shoppers online. Revive, meanwhile, works with brands across price points to repair returned items within three weeks to their original condition to be resold at full price on a brand’s site or through resellers like Poshmark and eBay. The company collects a commission from what’s sold on resale sites and charges a service fee for the refurbishing process. In the first half of 2024, Zalando’s business-to-consumer (B2C) channel profitability rose 1.4 percentage points year on year and revenue grew by 0.6 percent.

Across the continent, a handful of nascent brands are attempting to kickstart the continent’s own niche perfume moment. Uniting all the brands that strike a chord with fragrance fanatics, aside from quality, is having strong roots in an unexpected community or provenance, a cohesive brand universe and narrative, and a sense of fun, playfulness and even whimsy. BOF are working to ensure our customers have a choice to procure and use furniture to support circular furniture initiatives.

BoF explains why online trends from cottagecore and quiet luxury to barbiecore and coastal grandmother bubble up and spread out — and how brands can find their footing in the fast-moving, jumbled space. But to keep growing, brands need to adapt to consumer habits that are changing quickly. It’s not weird … but truly approachable perfumes that get people excited,” said Sinks, describing the scents as “incredible”. According to the brand, which was founded in 2018, a pivotal moment was launching in Sephora’s Harlem location where it consistently outranks global brands, and overall sales are also growing double digits. Other brands Sinks and Monet mentioned as gaining speed amongst fragrance buffs were Universal Flowering, Nette and Born to Stand Out. Universal Flowering launched in 2016 and has grown its revenues around 25 percent every year since 2021, said founder Courtney Rafuse, while Nette, which makes candles and fine fragrances, has been steadily gaining speed since launching in Sephora in 2023.

With 60 percent of brands behind on sustainability targets, reducing over-production and cutting waste through cost-effective initiatives may place brands in the best position to achieve targets and maintain the bottom line. Inaccurate stock purchasing across sizes is estimated to result in profit loss of up to 20 percent on average. For example, Lululemon attributed slower growth in the US in the first quarter of 2024 in part to insufficient inventory and stocks-outs in smaller women’s sizes. Excess stock in the fashion industry was estimated to be worth between $70 billion and $140 billion in sales in 2023. For brands and retailers, the race to merchandise and market around it is on.

One example is social commerce, through which a fifth of US customers have purchased clothing in the last 12 months. The company opened stores in California starting in 2006, but moved into Neiman Marcus them after receiving a minority investment from the department store chain in 2019. Most of these locations, however, focused on serving prospective selling customers rather than showcasing inventory to shoppers, said Davis. Brands and retailers are turning their physical spaces into donation drop-off or pick-up centres. Fashion label Bricks and Wood turned its store into a donation centre for essential items while also donating its own clothing, as has streetwear boutique Brain Dead. Other fashion labels donating clothing include activewear brand Set Active, sweats seller Madhappy, basics label Lady White Co., makeup label ColourPop and bag brand Stoney Clover Lane, just to name a few.