Latest news with #FashionDive
Yahoo
2 days ago
- Business
- Yahoo
Rebecca Minkoff shifts to a licensing model
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Dive Brief: Rebecca Minkoff will shift from an inventory-based brand into a licensing-driven model, according to a press release last week. As part of the shift, the contemporary fashion brand announced multiple new partnerships, including with Concept One for handbags, Vida Shoes International and Majesty Brands for lounge and sleepwear, as well as with Regal Jewelry in collaboration with JEM Brands Group for fine jewelry. The brand will continue to operate its digital presence, key retail stores and select DTC brand's namesake co-founder and creative director, Rebecca Minkoff, will retain creative leadership and brand stewardship under this new structure, per the release. Dive Insight: In 2005, designer Rebecca Minkoff first appeared on the fashion scene with the launch of her popular Morning After Bag, which became a celebrity favorite with actors including Lindsay Lohan and Hayden Panettiere. The privately operated contemporary lifestyle brand was purchased by Sunrise Brands in 2022. In its transition to a licensing model, the Rebecca Minkoff brand plans to 'unlock new growth channels and global scalability,' through 'leveraging the operational, manufacturing, and distribution expertise of specialized licensing partners,' per the release. The company added that the move toward a licensing model is aligned with larger industry trends and will allow the brand to maintain creative control while scaling efficiently through partners with experience in their respective categories. 'The future of fashion is lean, agile, and partnership-driven,' Minkoff said in the release. 'This model allows us to focus on what we do best — innovating through design and storytelling — while our partners help bring that vision to life at scale.' The licensing partners will help to create a business 'that can evolve with culture, not just chase it,' Minkoff added. The move will also optimize capital deployment because it allows for a shift away from heavy inventory investment and toward a royalty-based revenue model, the company said. The expectation is that this will drive brand innovation through more focused research, development and experiential marketing initiatives. 'In our capacity as the licensee of the handbag, accessories, and travel categories, we plan to expand the breadth of products, and distribution points globally,' Sam Hafif, CEO of Concept One, said in the release. 'We have hired several key members of the Rebecca Minkoff team, and will leverage our product development and sales teams to support the business.' Rebecca Minkoff has a presence in more than 900 points of distribution worldwide. Parent company Sunrise Brands owns a roster of contemporary fashion labels including Current/Elliott, NYDJ, Donald Pliner and Joie. Recommended Reading 6 recent licensing deals that are reshaping the fashion industry
Yahoo
22-07-2025
- Business
- Yahoo
Burberry stems its losses amid cost cuts
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Dive Brief: Burberry reported first quarter fiscal 2026 retail revenue of 433 million pounds, or about $584 million, down 6% year over year, according to a Friday earnings release. Comparable store sales for the period were up 1% year over year for the region comprising Europe, the Middle East, India and Africa. The key metric rose 4% in the Americas. In China, comp sales sank 5%, while in the rest of the Asia Pacific region, they fell 4%. The company also said that its previously announced organizational changes, which included up to 1,700 job cuts, were on target to foster 'greater collaboration and agility,' while its cost efficiency program was on track to deliver 80 million pounds in annualized savings by FY26. Dive Insight: Despite some losses, Burberry's Q1 results show marked improvement over the first quarter of fiscal 2025, when retail revenue sank 22% year over year and Joshua Schulman took over as CEO. Under Schulman, the company has been working toward a turnaround, and in November announced its strategic Burberry Forward plan. That initiative was designed to refocus the brand on its history and heritage, with particular attention on outerwear and scarves. At the time of the plan's announcement, Burberry said that the brand's falling revenue was a result of a move away from its core categories. 'Over the past year, we have moved from stabilising the business to driving Burberry Forward with confidence,' Schulman said in the release. 'The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead.' Shulman added that while external challenges persist and the company is still in the early stages of its transformation, the initial progress is encouraging. By region, EMEIA growth was boosted by local spending but offset by a decline in tourist spending. Meanwhile, the Americas benefited from growth in new customers. In the Asia Pacific region, which includes Japan, South Korea, Southeast Asia, Australia and New Zealand, a challenging performance in Japan was partially offset by growth in South Korea. On a call with analysts, Schulman said that regions around China were suffering from a decline in tourism among Chinese consumers. In addition, he added that within China, Burberry was seeing an increase in sales among Generation Z and younger customers, while some customers in that region who focus more on 'investment dressing' tend to shop later in the year.
Yahoo
16-07-2025
- Business
- Yahoo
Tapestry increases stake in recycled leather maker
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Dive Brief: Tapestry has increased its equity stake in recycled leather manufacturer Gen Phoenix to 9.9%, according to a press release. The Coach and Kate Spade owner is participating in the startup's $15 million funding round, and the new investment nearly quadruples its initial stake in the company in 2023, per the release. The deal also includes a three-year contracted supply agreement. Dive Insight: The partnership makes Gen Phoenix a core material innovation partner for Tapestry and allows the startup to bring its material to the Coach and Kate Spade brands with consistency at scale, per the release. Tapestry and Gen Phoenix initially partnered in 2022, which led to the launch of the Coachtopia subbrand the following year. Since then, the two companies said their partnership has evolved beyond a typical vendor relationship and could be used as a blueprint for future material innovation between materials companies and brands. Tapestry and Gen Phoenix shared research and development access, factory floors and design insight, per the release. The new agreement gives Tapestry supply chain resilience and the opportunity to align with the next generation of consumers' values, per the release. The company has made a recent push to connect with Generation Z, a reportedly environmentally conscious generation. The strategy has been paying off, with the company continuously logging revenue increases and gaining new customers. However, Tapestry's leather sourcing practices have come into question recently when environmental nonprofit Earthsight said Coach's leather is at risk of being sourced from areas with deforestation. In response, Tapestry said it has launched various initiatives to create a deforestation-free leather supply chain. Meanwhile, Gen Phoenix's $15 million funding round is led by venture capital firm Material Impact. The startup plans to use the money to expand into new categories and global markets, scale production at its U.K. facility, and accelerate research and development to commercialize circular leather. The startup deconstructs leather waste into fibers to form a new raw material. It has similar qualities to traditional leather, but with an 85% lower carbon footprint, CEO John Kennedy told Fashion Dive last year. Gen Phoenix initially launched in the mass transportation seating category, creating leather for aviation, bus and rail seats. In addition to partnering with Tapestry in the fashion space, Gen Phoenix is working with footwear brand Dr. Martens on a capsule collection made from its material, with more to come. Other Gen Phoenix investors include InMotion Ventures, the investment arm of Jaguar Land Rover, ETF Partners and the Hermes GPE Environmental Innovation Fund. Recommended Reading Repreve launches filament yarn, insulation materials made from recycled polyester 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
15-07-2025
- Business
- Yahoo
Shein faces class action lawsuit over marketing texts
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Shein is facing a class action lawsuit that claims the fast fashion giant sent marketing text messages to those on the national Do-Not-Call Registry, according to court documents. The complaint alleges Shein sent three text messages to the plaintiff in June, after the claimant registered with the Do-Not-Call Registry in April. The plaintiff didn't explicitly sign up for the texts. Attorneys for the plaintiff are seeking a jury trial and claim that the plaintiff suffered an invasion of privacy, intrusion of life and a private nuisance, and that Shein should have known the plaintiff's phone number was on the Do-Not-Call Registry. Shein's fast fashion competitor Temu has faced two similar class action lawsuits over texting people on the Do-Not-Call Registry that were later voluntarily dismissed by the plaintiffs. Though Shein has previously faced class action lawsuits, the new complaint is unique in its claim of violating the Telephone Consumer Protection Act. The new complaint was filed Friday in the U.S. District Court for the Southern District of Indiana, the district in which the plaintiff resides. In addition to seeking a jury trial, attorneys are seeking monetary relief for the plaintiff and members of the class, including attorneys' fees, costs and expenses. A Shein spokesperson didn't immediately respond to Fashion Dive's request for comment. Last year, a group of designers and artists filed a class action complaint against Shein that claimed Shein had copyright infringement baked into its business model. Many of the lawsuits Shein faces are copyright infringement claims, both from independent artists like the class action lawsuit and established brands, including a recent complaint from Brandy Melville. Recently Shein's advertising practices have come under additional scrutiny after France's antitrust authority fined the fast fashion giant for misleading consumers. Recommended Reading 5 fashion lawsuits and legal trends to watch in 2025 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
08-07-2025
- Business
- Yahoo
Steve Madden's chief merchandising officer exits
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Karla Frieders, chief merchandising officer at Steve Madden, voluntarily resigned, effective June 30, according to a securities filing last week. Frieders' resignation from the footwear company was for personal reasons, per the filing, and was 'not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.' Steve Madden said in the filing that it doesn't plan to appoint a successor at this time. Instead, other members of the company's management will assume some of Frieders' responsibilities. Frieders spent more than 26 years at Steve Madden, beginning in 1999 as a buyer and merchandise manager, per her LinkedIn. Prior to spending nearly 10 years as chief merchandising officer, she spent almost three years as president of retail for the company. In the same securities filing, Steve Madden announced that board member Robert Smith was resigning from his director position after more than 11 years. Smith's exit is voluntary, per the filing, and he will leave 'to pursue another opportunity,' effective July 14. Following his departure, the company's board will reduce its size from 11 members to 10, per the filing. Steve Madden did not immediately respond to a request for comment regarding the departures. In its first quarter, Steve Madden posted revenue of $552.4 million, representing a 0.2% increase year over year. Company CEO and Chairman Edward Rosenfeld said in the earnings release that the company faced 'meaningful near-term headwinds and heightened uncertainty' as a result of the new tariffs imposed on imports into the United States. The company previously said it planned to reduce its dependence on China sourcing, and in its Q1 earnings call, Rosenfeld told analysts that it had already managed to accelerate that shift and move production to other countries. As a result, Rosenfeld said, the company would reduce its U.S. imports from China from 71% in 2024 to the mid-teens by fall 2025 and down to the mid-teens by spring 2026. Steve Madden also began 'selectively raising prices to consumers and wholesale customers,' said Rosenfeld, adding that the company has taken 'a surgical approach, raising prices by differing amounts and sometimes not at all, depending on the brand, product category and style.' Recommended Reading Adidas 'does not own all stripes,' Steve Madden says in lawsuit 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
