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just-style.com editor's weekly highlights | |
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SPESA EXPO, the industry’s largest and most comprehensive event of 2010, covers everything from concept to delivery. Fashion and sewn products executives and professionals gather in Atlanta on May 18-20 for a one-stop shop of materials, machinery, technology, and supply chain services while gaining valuable insight through seminars and networking.
With Phillips-Van Heusen’s (PVH) fourth quarter and full-year results coming so soon after its plans to buy Tommy Hilfiger were revealed, the US$3bn deal was expected to steal the show. In the event though, stalwart brand Calvin Klein took centre stage, thanks to a stellar and unexpected performance in the fourth quarter when royalty revenues surged up 22%. The sales hike helped PVH to a fourth quarter profit of US$27m, and provides a reassuring picture for the company in the upcoming year. Initial feedback from the Tommy deal is good too, with growth in orders seen for autumn 2010 and key customer Macy’s hinting that it could double the size of its Hilfiger business over the next three years. ANALYSIS: Calvin Klein steals Tommy’s thunder at PVH US: Calvin Klein drives Q4 profit at PVH British fashion retailer Next has also toasted an “exceptional” year after profit jumped 18% to GBP505m (US$754m). The UK retailer pledged to expand its sportswear offer and make better use of the internet in the coming 12 months, after revenues rose 4.1% to GBP3.4bn. Next is also planning further ahead too, after being appointed as official clothing and homeware supplier to athletes and officials at the London 2012 Olympic Games. UK: Next FY profit up 18% after “exceptional” year UK: Next to be GB Olympic team clothes supplier Another firm eyeing a bigger slice of the market in 2010 is consumer goods sourcing giant Li & Fung, which last week posted a 39% hike in full-year profit to HK$3.4bn. While turnover slipped 6% to HK$104.5bn (US$13.4bn), the impact was offset by tight cost controls and increased contributions from the company’s higher-margin onshore businesses. HONG KONG: Li & Fung FY profit up despite “challenges” German fashion house Hugo Boss is going ahead with plans to shut its last US production plant, despite a Hollywood-style boycott of its suits led by actor Danny Glover. The closure, which is scheduled for 28 April, is described by Hugo Boss as “an unfortunate but necessary business decision.” GERMANY: Hugo Boss sticks by Ohio closure plan A labour rights group is calling for better employment policies and social protection to help garment workers in Cambodia recover from the impact of the global economic downturn. The pleas come after new data from a survey led by the International Labour Organization (ILO) found many workers have had their salaries cut in the past year and now struggle to cover basic living costs. CAMBODIA: Garment workers hit hard by economic crisis Meanwhile, apparel makers in Macedonia (more accurately called 'the former Yugoslav Republic of Macedonia' due to an ongoing dispute with Greece over its name) say they are beginning to see the first signs of an upturn in demand as European retailers and importers increase orders again as they emerge from recession. The industry is setting itself up as a fast fashion supplier to European retailers and brands – especially those in the UK – with its small volumes and flexible production. Macedonia takes fast fashion approach ANALYSIS: Macedonian makers eye fast fashion partnerships Until next time... Leonie Barrie, Managing Editor Web: www.just-style.com
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In the money: Can brands bounce back? [MEM] Buoyant first-half sales posted last week by department store retailer Debenhams were helped by the return of the re-launched Principles label. But what has happened to other brand names rescued from the brink over the past year or so? Richard Woodard finds out.
just-style’s sector research review In this latest management briefing, we round up some findings from some of just-style’s recently published market sector research reports, plus we preview a forthcoming title looking at how tomorrow’s apparel industry might take shape. This new report will be a think piece about the future of the apparel industry. It’s intended to encourage apparel industry executives to consider what is going to shape future products, markets and processes in the apparel industry.
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March 29, 2010 
