In the second half of 2022, Honeylove reached an important milestone: for the first time in its four-year history, the lingerie brand was consistently profitable before interest, taxes, depreciation and amortization. The shapewear seller had steadily increased sales by introducing new categories including bras, underwear and pants, hitting $61 million in revenue in 2021. But … Read more
Last year, the sneaker market finally ran out of steam. Bloated inventory, falling sales in China and a high-profile spinoff with a controversial celebrity ambassador posed challenges for the category’s biggest players, Nike and Adidas. In the resale market, some of the most coveted shoes, such as the Jordan 1 Dark Marina Blue and the … Read more
Fashion has been talking about sustainability for years, but with the urgency of the climate crisis increasingly visible and workers continuing to bear the brunt of global economic uncertainty, 2022 has revealed the gap that still exists between rhetoric and the real change. In fact, widespread inaction by the world’s biggest fashion companies is overshadowing … Read more
The luxury sector faced major challenges in 2022, ranging from rapid inflation to slowing economic growth, exacerbated by the return of strict Covid lockdowns in China and the outbreak of war in Ukraine. Yet despite the headwinds, sales have never been stronger, increasing 22 percent this year as a post-Covid “YOLO” attitude prevailed. The strongest … Read more
Dear BoF Community, It was a year of transition for the beauty industry. Millennial pink has lost its luster for good and in its place, bold Y2K makeup has found favor: Glossier, the former darling of the beauty industry, laid off about a third of its workforce, aside its direct-to-consumer beliefs to sell at Sephora … Read more
In key market China, Xi Jinping won an unprecedented third term as leader of the Chinese Communist Party but was forced to backtrack on strict ‘zero-Covid’ measures after public frustration erupted into protests. widespread, paving the way for recovery for the country’s luxury and retail sectors. The Russian-Ukrainian war took a terrible human toll. It … Read more
This year, marketers have seen the return of the familiar alongside a drive to diversify their channel mixes. As pandemic restrictions eased, experiential marketing came back in full force, as brands were able to once again capitalize on fashion favorite events like Coachella and the Met Gala. But new obstacles appeared on social mediaas ad … Read more
For most of 2022, the fashion industry has been waiting for the other shoe to drop. We are still waiting. There was the glut of merchandise and brand retailers that had accumulated at the start of the year. Already high inflation rose to levels not seen since the early 1980s. Russia ceased to be a … Read more
In scouring the globe to identify growth opportunities in the coming year, most fashion executives who responded to the BoF-McKinsey State of Fashion 2023 survey cited the Middle East as a region more promising in 2023 than in 2022. Indeed, luxury fashion sales in the Gulf Cooperation Council alone reached approximately $4.2 million in 2021, … Read more
Emboldened by the celebrities and designers they admire, a growing number of consumers are shopping in gender-specific categories. Silhouettes, fabrics and colors no longer need to conform to traditional dress codes to sell to these consumers. For brands, change can be at an inflection point, prompting industry leaders to consider how best to respond to … Read more