Hudson’s Bay Retail Chain to Terminate More Than 8,300 Workers by Sunday
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
The State of Fashion
In-depth reports by The Business of Fashion and McKinsey & Company on the future of the fashion, beauty and luxury industries.
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Luxury
Marriott International: What Luxury Travellers Really Want
The post-pandemic travel boom may be on the wane, but in its wake it leaves a tourism market that has been utterly transformed. Tina Edmundson, president of luxury at Marriott International, explains how the hospitality giant is adapting its offerings to customers’ rapidly evolving needs.
Marriott International: What Luxury Travellers Really Want
The post-pandemic travel boom may be on the wane, but in its wake it leaves a tourism market that has been utterly transformed. Tina Edmundson, president of luxury at Marriott International, explains how the hospitality giant is adapting its offerings to customers’ rapidly evolving needs.
Luxury
Piaget’s CEO on Powering Growth in a Challenging Watch Market
The Richemont-owned jewellery and watch brand is enjoying newfound momentum after relaunching its Polo 79 timepiece — part of a broader programme to reactivate the glamour of its jet-set glory days. CEO Benjamin Comar shares his vision for how Swiss watchmakers can reach new clients in a tough market for hard luxury for The State of Fashion: Luxury.
Piaget’s CEO on Powering Growth in a Challenging Watch Market
The Richemont-owned jewellery and watch brand is enjoying newfound momentum after relaunching its Polo 79 timepiece — part of a broader programme to reactivate the glamour of its jet-set glory days. CEO Benjamin Comar shares his vision for how Swiss watchmakers can reach new clients in a tough market for hard luxury for The State of Fashion: Luxury.
Retail
Aritzia: Redefining Shopping One Store at a Time
Not so long ago, Aritzia was a little-known womenswear brand serving elevated workwear staples from a modest footprint of stores. CEO Jennifer Wong talks in The State of Fashion 2025 about how the retailer found itself in hypergrowth — and why excellence starts from within the company.
Aritzia: Redefining Shopping One Store at a Time
Not so long ago, Aritzia was a little-known womenswear brand serving elevated workwear staples from a modest footprint of stores. CEO Jennifer Wong talks in The State of Fashion 2025 about how the retailer found itself in hypergrowth — and why excellence starts from within the company.
How Retailers Are Investing in Their Sales Associates
Differentiating the in-store experience is key to reigniting demand for in-person shopping, according to the BoF-McKinsey State of Fashion 2025. Brands can achieve that by empowering their store associates to reach their full potential.
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Luxury
Equinox Is Trying to Make Health the Ultimate Status Symbol
No longer just a luxury gym chain, Equinox’s transformation into a wellness lifestyle brand is based on the bet that the wealthy will pay anything to optimise their health. Executive chairman and managing partner Harvey Spevak outlines his vision for the future of luxury wellness for The State of Fashion: Luxury.
Equinox Is Trying to Make Health the Ultimate Status Symbol
No longer just a luxury gym chain, Equinox’s transformation into a wellness lifestyle brand is based on the bet that the wealthy will pay anything to optimise their health. Executive chairman and managing partner Harvey Spevak outlines his vision for the future of luxury wellness for The State of Fashion: Luxury.
Prada’s Plan for Growing in a Luxury Downturn
What's 'polyhedric brand equity'? Chief executive Andrea Guerra breaks down how Prada and Miu Miu — luxury’s ‘cultural brands’ par excellence — continued to outperform the market last year, and his outlook for 2025.
Consumers Want Brands to Prove They’re Worth It
Macroeconomic pressures and rising prices have driven fashion shoppers to adopt cost-conscious behaviours. To capture customers’ share of wallet, brands will need to prove their value, finds the BoF-McKinsey State of Fashion 2025.
Retail
New Balance’s $10 Billion Plan
As the brand races to hit eleven-digit annual sales, CEO Joe Preston opens up for The State of Fashion 2025 about what New Balance is doing that its rivals aren't, the company's unique approach to brand and athlete partnerships and how it plans to stay ahead in the innovation battle.
New Balance’s $10 Billion Plan
As the brand races to hit eleven-digit annual sales, CEO Joe Preston opens up for The State of Fashion 2025 about what New Balance is doing that its rivals aren't, the company's unique approach to brand and athlete partnerships and how it plans to stay ahead in the innovation battle.
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Tackling Fashion’s Excess Inventory Problem
To combat the high costs of overstock and stock-outs, winning brands are improving their end-to-end planning with tech tools and operating models that allow for greater supply-chain agility, according to the BoF-McKinsey State of Fashion 2025.
The 10 Themes That Will Define the Fashion Agenda in the Year Ahead
From the luxury slowdown to shifting consumer tastes and unprecedented demographic shifts, The State of Fashion 2025 explores the biggest challenges and opportunities the industry will face in the coming year.
Fashion Wakes Up to the ‘Silver Generation’ Opportunity
The fashion industry has typically focused on youth. But with shoppers over 50 representing a growing share of global spend, smart brands are showcasing their inter-generational appeal, according to the BoF-McKinsey State of Fashion 2025.
Financial Markets
L Catterton: Finding Value in a Tough Market
Nikhil Thukral, managing partner at the LVMH-affiliated private equity fund, talks about the ingredients of winning companies, the dynamics challenging fashion's incumbents and how economic shifts are shaping investor strategies in the BoF-McKinsey State of Fashion 2025.
L Catterton: Finding Value in a Tough Market
Nikhil Thukral, managing partner at the LVMH-affiliated private equity fund, talks about the ingredients of winning companies, the dynamics challenging fashion's incumbents and how economic shifts are shaping investor strategies in the BoF-McKinsey State of Fashion 2025.
The News in Brief
Crypto-Luxury Brand 9dcc Is Shutting Down
The brand cited headwinds in web3 and softness in the luxury market for its decision in an announcement Tuesday.
Temu-Owner PDD Holdings Misses Quarterly Revenue Estimates
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
Swiss Watch Exports Jump in April Ahead of Threatened US Tariffs
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italy’s Fashion Brands Sign Accord to Fight Worker Exploitation
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
EU Warns Shein of Fines in Consumer Protection Probe
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
Trump Extends Deadline for 50% Tariffs on EU Goods to July 9
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
E.l.f. Beauty Announces $1 Price Hike, Citing Inflation and Tariffs
The mass brand will raise prices in August.