Must Read: Glossier Goes Wholesale with Nordstrom Partnership, Consumers Are Putting Faith in Brands to Change the World
Plus, Bottega Veneta wins big at the Fashion Awards.
These are the stories making headlines in fashion on Tuesday.
Glossier goes wholesale with Nordstrom partnership
Glossier, the shining success story of direct-to-consumer start-ups, will be selling its Glossier You fragrance for a limited time in wholesale retail machine Nordstrom. Starting on Tuesday, seven select Nordstrom locations will include an immersive Glossier You microcosm experience, complete with pink jumpsuit-clad sales associates. Glossier founder Emily Weiss long avoided wholesale, opting instead for flagship locations and pop-up stores. {Business of Fashion}
Why consumers put faith in brands to change the world
Consumers are increasingly buying brands that align with their political values. In fact, 53% of consumers believe that brands can do more to solve social issues than the government, in comparison to 17% of Americans who trust the government to "do what is right," according to a 2019 Pew Research study. In a void of trust in government and religion, powerful brands are using their voices to effect social change. {Business of Fashion}
Bottega Veneta wins big at the Fashion Awards
Bottega Veneta has been the hot name of the year, and now the Kering-backed label has the awards to prove it. At the British Fashion Awards on Monday, Creative Director Daniel Lee won multiple prizes: Designer of the Year, British Designer of the Year for Womenswear and Accessories Designer of the Year, in addition to winning overall Brand of the Year. {Business of Fashion}
All about fashion startups and seed accelerators
500 Startups is a seed accelerator that funds early-stage startups; you may know a few of its companies, like The RealReal, Le Tote and Mejuri. 500 Startups isn't the only early-stage venture fund of its kind. Now, fashion companies are looking to invest in startups that will bring new business models and technology to the table. {Vogue Business}
The U.S. threatens 100% taxes on French handbags
The U.S. government announced that it may enforce up to 100% duties on imports from France, including handbags, cosmetics, wine and cheese. The announcement came in response to France's new digital tax, which affects many American tech giants. French luxury companies suffered at the hand of the announcement — LVMH shares fell by 2.3%, Kering's by 2.7% and Hermès International's by 2.9%. {WWD}
Burberry's five-year sustainability plan
Burberry is setting its sights on sustainability and focusing on being carbon neutral by 2022, among other eco-conscious decisions. Last year, Burberry came under fire for burning its unsold clothing in order to maintain its brand value. Now, the brand's goal is to reverse its damage and reputation. {Glossy}
J.Crew Group and Madewell jump in sales
Leading up to the all-important holiday shopping season, J.Crew Group, Inc. announced a 3% increase in comparable sales in the third quarter of fiscal year 2019. At J.Crew the brand, comp sales were down 4%, while at Madewell they were up 13%. The group also confirmed a transaction with its creditors that will enable its plans to separate J.Crew and Madewell into distinct companies and then follow through with a Madewell IPO, which should happen in the first quarter of next year. {Fashionista Inbox}
Reebok introduces plant-based performance shoe
In Fall 2020, Reebok will launch its first-ever plant-based running shoe, made of castor bean oil, eucalyptus tree, algae and natural rubber. The sneaker, called the Forever Floatride Grow, is an updated version of the brand's award-winning Forever Floatride Energy running shoe. The Forever Floatride Grow will retail from $120 to $140. {Fashionista inbox}
Never miss the latest fashion industry news. Sign up for the Fashionista daily newsletter.
