Latest news with #MichaelKors
Fast Company
17 minutes ago
- Business
- Fast Company
The climate tech making retail smarter and more profitable
Retail is changing, but not because it wants to. From fashion to food, most C-suites are still running on 20th-century systems, designed for a world where raw materials were cheap, landfills were bottomless, and customers didn't ask hard questions. That world is gone. The most forward-thinking retailers and e-commerce companies are adapting. They're deploying next-generation climate solutions to address core business challenges. In the process, they're transforming how products are valued. Two companies—Trove and Wasteless—offer a window into this new logic: climate tech that strengthens margins, deepens loyalty, and delivers a better retail experience for both fashion and food. Resale is the brand Resale and secondhand fashion aren't new. But for years, they lived outside the fashion brand's control—on platforms like eBay, ThredUp, and Depop. Consumers benefited. Brands lost visibility, margins, and ownership of the customer relationship. Trove changes that. It enables brands to run recommerce in-house, maintaining control over quality, pricing, and the end-to-end experience. Brands like Patagonia (Worn Wear), Canada Goose (Generations), and Michael Kors (Pre-Loved) already use Trove's infrastructure—a tech platform that handles intake, grading, pricing, and fulfillment alongside the new inventory these brands sell through their own websites. Trove integrates directly into backend operations, so resale doesn't feel like an add-on. It becomes part of the brand. And resale has already gone mainstream. In 2024, U.S. secondhand apparel sales approached $50 billion. Nearly 60% of consumers now shop secondhand, and many prefer to buy secondhand directly from brands they trust. 'The consumer would prefer to buy a resale item from the brand that's essentially certifying it and condition grading it,' CEO Terry Boyle told me on the Supercool podcast. 'They'll pay more for that.' Brands are paying attention. Brand-owned resale delivers: Higher margins than traditional discounting and off-price channels Lower acquisition costs—50% to 80% of resale buyers are new to the brand Higher lifetime value as resale becomes a reentry point into the brand ecosystem 'We're not the hard part of being environmentally friendly,' Boyle told me during the podcast. 'We're the easy part. Because we actually make money.' This model is especially effective for premium and luxury brands, where quality control is paramount. It protects brand equity while offering sub-luxury pricing, without channel conflict. Boyle added, 'That's why I call resale off-price with a better brand halo.' Sell it before it expires Grocery has a different challenge: perishables. If food waste were a country, it would rank third in global emissions—behind only China and the U.S.—responsible for 8 to 10 percent of the total. For supermarkets, that's not just an environmental issue; it's margin and profits expiring in plain sight. Wasteless engineered a solution. Its platform applies AI -driven dynamic discounting to supermarket shelves, adjusting prices in real time based on expiration dates. Two identical tubs of yogurt with different sell-by dates? Trove's solution reduces the price of the tub that's expiring sooner, encouraging the consumer to buy it. Everything is synced to inventory systems and displayed on digital shelf labels. As Wasteless' CEO, Oded Omer, told me on the Supercool podcast, 'Our goal is not to discount. Our goal is to discount the right amount at the right time in order for the goods on the shelves to be sold.' The results from three international grocery stores: DIA (Spain): 32.7% reduction in food waste Hoogvliet (Netherlands): 50% drop in markdown costs Carrefour (Argentina): Expanded to all 640 stores after successful pilots in France Omer doesn't talk ESG targets. He talks pricing. 'If food waste is just the sustainability department's job, it won't get solved,' he added during the episode. 'This is pricing strategy. It protects margin.' And that's the point; climate tech in retail works best when it solves for margin, not mission. Design for better outcomes The most powerful retail innovations don't ask consumers to change behaviors or make sacrifices. They redesign systems so that better outcomes emerge by default. Trove doesn't ask customers to rethink used clothing. It makes resale feel as seamless and trustworthy as buying new. Wasteless doesn't preach about food waste. It uses real-time pricing signals to move inventory and optimize supply chains. Neither company markets itself as a sustainability brand. They're retail tech providers focused on profit—and performance. Both solve problems retailers already have. Both harness technology to make it easier to serve customers. And both reduce emissions in the process.
Muscat Daily
3 days ago
- Business
- Muscat Daily
Handbag imports surge in Oman
Omani women drive a surge in handbag imports as lifestyles and spending habits evolve in the Sultanate of Oman Oman recorded a sharp rise in women's handbag imports in 2024, with the total value reaching RO 9.5mn – a 37% increase over the previous year, according to figures from the National Centre for Statistics and Information (NCSI). The data has drawn attention from retailers, social commentators, and economists, who say the trend reflects shifting consumption patterns, increasing financial independence, and a broader cultural shift in women's visibility in public and professional spaces. Retailers in Muscat say international handbag brands have seen growing demand, with premium and mid-range labels performing particularly well. Social media influences 'Brands like Michael Kors, Kate Spade, and even luxury players like Gucci are becoming increasingly popular among Omani women,' said Salim al Hinai, a fashion retail manager in Seeb. 'The younger generation is highly influenced by global fashion trends, and social media plays a big part in shaping their buying choices.' He said the growth of e-commerce and targeted marketing on platforms such as Instagram and TikTok has made international fashion more accessible. The trend is also being seen by social workers and gender experts as an expression of identity and empowerment. 'Handbags today are not just utility items – they're status symbols and forms of self-expression,' said Fatma al Riyami, a Muscat-based social development specialist. 'As more women take up jobs, participate in entrepreneurship, and engage in public life, their choices in personal fashion are becoming bolder and more diversified.' Fatma said the rise in imports is linked to greater financial independence among women, particularly in urban areas. Style statement Dr Ahmed al Maamari, a sociologist, said the trend reflects broader social and economic transformations. 'We're witnessing a cultural shift where consumerism intersects with identity,' he said. 'For many women, owning an international handbag is no longer seen as extravagant but as part of a modern lifestyle. It's also worth noting that many young people are now delaying marriage and choosing to spend more on themselves.' Maamari added that greater global exposure, following the COVID-19 pandemic, has contributed to the rise in demand for branded goods. But not all observers are celebrating the trend. 'There's a growing concern about materialism, especially when families with limited income feel pressured to keep up with trends,' said Aisha al Balushi, a community counselor in Dakhliyah. 'We need to strike a balance between embracing modern fashion and encouraging financial responsibility.' Still, many see the surge as part of a broader transformation in Oman's consumer landscape. 'Whether seen as a reflection of independence, modernity, or rising affluence, the surge in handbag imports is likely to continue as Omani consumers become increasingly brand-conscious and digitally connected,' said Aisha. 'It's a telling sign of the times. The handbag is more than an accessory now – it's a statement.' Work-life-social blend 'I'm definitely a big-bag person, I like designs that can accommodate my work-life-social blend. That said, I keep smaller pouches inside to hold my essentials, so I can easily switch between bags. Practicality matters, but it must come with style,' says Buthaina al Zadjali. 'Sadly, many of the brands I gravitate toward aren't readily available in Oman. So when I travel, I make it a point to visit outlet villages abroad.' She further said, 'Lately, I find myself leaning more toward brands that embrace sustainability and ethical production. Designers like Stella McCartney, Chloé, Cuyana, Matt & Nat, and even Gucci have made notable strides in eco-conscious design. For me, investing in pieces that are not only beautiful and durable but also environmentally responsible adds deeper meaning to each purchase. It is also why I prioritise timelessness – a great bag should last a lifetime, and if possible, beyond.' As is a trend in many families, Buthaina asserts, 'In my family, handbags are more than just fashion. I often pass mine down to my younger sisters and cousin, or we exchange our favourites once we've made good memories with them. For me, it is all about owning pieces that reflect your lifestyle, values, and identity, and a well-chosen bag does exactly that.' Personal style statement I've always believed that a designer handbag is more than just an accessory – it is a wearable work of art, a statement of personal style, and often, a long-term investment. I do love branded handbags, and Hermès sits at the top of my list. Its exquisite craftsmanship and timeless appeal ensure that, when cared for properly, the value of a Hermès piece never truly depreciates. I also admire leather goods from Goyard, Tod's, and Chloé – brands that offer a classic aesthetic with modern versatility. Buthaina al Zadjali I do love branded handbags. It all depends on what I'm looking for – to suit a specific purpose, work, or evening wear. The type of bag really depends on the life stage – when my children were young, I preferred big ones to carry lots of stuff. Now, I prefer medium sized ones. I like leather ones because they have an elegant look. I also like fabric ones for summer and beach bags. We do have a lot of options in Oman with a variety of price ranges. Dr Muna Ismail I don't have a specific favourite brand — I usually choose what suits me best in terms of design and quality. I love leather bags, especially medium to small-sized ones in neutral colours. I mostly use crossbody bags because they're practical and fit my everyday movements. Sometimes I find something I like in local stores, but most of the time I order from international websites for more variety. Khadija al Maamari I don't care about branded bags, but I do love handicrafts. In my twenties, I preferred elegant, distinctive, and colourful styles, and coordinated them with my attire. I had a home business that coordinated bags with the hijab. However, when I became a mother, having a black, spacious, and organised bag was more important. In Oman, there are shops that specialise in branded bags, but very few that sell bags made by local artisans. Ahlam al Moqbali
Yahoo
4 days ago
- Entertainment
- Yahoo
Snag a $343 Michael Kors bag for $55 — plus more 4th of July sales from Apple, Kohl's and Amazon
Hey, Cancerians, how's your month going? We want to make sure you're okay, seeing as Mercury entered Leo on Thursday. Robust health and a financial windfall are expected today — that's a cosmic wink for Yahoo Life readers, because we're making sure you're armed with this weekend's best deals, including 4th of July sales to make the most of your paycheck. Sashay through summer with this all-leather Michael Kors crossbody — it's literally hundreds of dollars off. How'd you like to snag a 50-inch 4K TV for just $200? Done and done with this staggering steal. Got some under-the-sun reclining on your sked? This star-spangled chaise puts the zzzs in zero-gravity; it's just $54 (down from $90). See? It's just that easy. Our prediction? You're stepping into a stellar weekend of sales. Adidas: Get up to 60% off sale shoes and apparel. Anthropologie: Save up to 50% on new sale items. Brooklinen: Score bedding, bath linens and more for up to 75% off. Coach Outlet: Save up to 70% on sale styles. Cozy Earth: Get up to 55% off Oprah-approved bedding and more. Everlane: Snag up to 75% off sale styles. Save up to 50% on almost everything during the Big Summer Event. Kate Spade Outlet: Get up to 70% off, plus an extra 20% off everything. Loft: Take up to 40% off your entire purchase with Loft's Summer Refresh. Nordstrom: Shop designer clearance items and save up to 60%. Nordstrom Rack: Take up to 65% off summer styles. Old Navy: Score up to 70% off during the Summer Sale. REI: Save up to 50% off during the retailer's 4th of July Sale. Spanx: Score up to 50% off during the End of Season Sale. Sur La Table: Save up to 60% on brands like Staub, Le Creuset and more. Target: Get up to 50% off clothing and more. Walmart: Shop rollbacks and flash deals of up to 80% off. Wayfair: Stock up on furniture, decor and more for up to 50% off during the Surplus Sale.
Yahoo
7 days ago
- Business
- Yahoo
Capri CEO John Idol's Pay Slips to $9.1 Million
John Idol, chairman and chief executive officer of Capri Holdings, saw his total pay slip 14 percent to $9.1 million last year, according to a regulatory filing. Idol received a salary of $1.4 million and incentive pay of $540,000. But most of his take came in the form of stock awards, which were valued at $7 million, although they only really pay off if the company performs in the market. More from WWD Michael Kors and Lance Le Pere Named to the American LGBTQ+ Museum Board of Trustees Prada Group Bolsters Vertical Integration With Strategic Stake in Rino Mastrotto Group Michael Kors and Lance Le Pere Honored by LGBT Fashion Centered Dinner And Capri's stock has been in a tough spot. While Tapestry Inc. agreed to buy the company for $57 a share, the stock fell sharply when the government held up the transaction on anti-trust grounds last year. Shares of Capri were trading below $17 on Tuesday, leaving the company with a market capitalization of less than $2 billion. While Idol's pay was more or less routine for a CEO — his incentive pay was the same as it was the year before, but well below the $4.3 million he took home in fiscal 2023 — there were some interesting details on the pay packages taken home by former executives last year. Thomas Edwards, who had been chief financial and operating officer of Capri, logged a pay package of $4.4 million, including $2.4 million in stock awards, an $800,000 salary and a $1.1 million retention bonus, on paper at least. It turns out, that bonus wasn't enough to retain Edwards as he was named chief financial and operating officer at Macy's Inc. in April. Capri said the bonus was to 'recognize the substantial efforts and time that Mr. Edwards devoted to the previously terminated merger with Tapestry Inc., and to ensure Mr. Edwards' continued employment and dedication to the company.' Since he left early, Edwards received only $800,000 of the award. And Cedric Willmotte, former CEO of the Michael Kors brand, logged pay of $5 million, including $2.5 million in stock awards, a $1.5 million bonus under his 'separation and release agreement' and a $1 million salary. After Willmotte left, Idol stepped back in to lead the turnaround of the Michael Kors brand directly. Michael Kors is the biggest part of Capri, which also owns Jimmy Choo and is in the process of selling Versace to Parada for $1.4 billion. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange 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
7 days ago
- Business
- Yahoo
Michael Kors is selling a $498 crossbody bag for only $71 (plus, more amazing Canada Day deals up to $539 off)
If you're on the hunt for a timeless everyday bag without the steep designer price tag, Michael Kors has some incredible deals on high-quality leather bags and purses that are too good to miss, including a crossbody bag that has rave reviews. Shoppers are loving the Jet Set Travel Medium Saffiano Leather Crossbody Bag — and for a good reason. With its sleek silhouette and durable leather finish, the purse is being dubbed "classy" and "elegant" by customers who say it makes for the perfect everyday bag. Even better, it's currently marked down by more than 80 per cent, ringing up at just $89, down from $498. What's more, thanks to the retailer's Canada Day sale, it's an additional 20 per cent off, bringing the price down to just $71. To celebrate the Canada Day long weekend, Michael Kors is offering shopping an additional 20 per cent off 100s of items — with the discount applied at checkout. Click here to shop the sale. Keep scrolling for all the details, and to see why you may just need to add the bag to your rotation. The geometric crossbody bag is great for travel or nights out. The Jet Set Travel Medium Saffiano Leather Crossbody Bag is made from luxurious Saffiano leather and features a geometric shape with gold hardware and a simple zip fastening. It comes with a thin, adjustable strap that allows you to wear it crossbody-style or over the shoulder. Inside, the bag is surprisingly spacious, with enough room to store all the essentials like your phone, keys and other small items, as well as three back card slots for keeping your credit card, ID and more. The bag is great for keeping small essentials close while travelling, and is also great for wearing on nights out, taking to dinner or even just running errands. 👛 1,860+ reviews ⭐ 4.6/5 stars 🏅 "Just right for everyday use — not too big, not too small." The bag has tons of positive reviews from shoppers, with a rating of 4.6/5 stars. One shopper said she purchased the bag as a gift, and that the recipient "absolutely loved it." "The size is just right for everyday use — not too big, not too small — and the Saffiano leather gives it a classy, structured look that feels both durable and elegant," they wrote. Another shopper agreed that the bag is a great size. "Fabulous bag. Perfect size. Have received so many compliments!" they said. "Beautiful little purse," wrote another reviewer. "I think it looks so nice as a crossbody. Great quality as well." Some shoppers did find the bag on the small side, but many agreed that it can still hold all the essentials. "It looks small but you can put lots of things [inside]," wrote one shopper. "It's smaller than I thought it would be," another reviewer said, adding that it still fits their wallet and that they were "overall pleased" with their purchase. If you're someone who prefers a smaller everyday bag, the Jet Set Travel Medium Saffiano Leather Crossbody Bag could be your new go-to purse. The bag features Michael Kors's classic quality leather and timeless design and is as functional as it is cute, with enough space to hold your phone, keys, cards and other small essentials. Besides making for the perfect small everyday bag, it's also great for taking to dinner, a night out or while travelling. However, if you need something a little bigger, I'd keep browsing the Michael Kors outlet. Shop in three colours: Navy (pictured), black and white. Shop in three colours: Luggage (pictured), rose pink and black. Shop in three colours: Vanilla (pictured), black and brown. Shop in three colours: Dragonfruit (pictured), white and navy. Shop in two colours: Daisy yellow (pictured) and black.
