British Chic Brands Topshop and Asos Seek U.S. Growth
British retailers are banking on America’s love of all things English to expand their businesses. Online retailer Asos and chic fashion chain Topshop have lured trendy shoppers and are looking to expand. British fashion is grasping a firm hold on the U.S. market, posing a threat to American fashion companies such as Gap and J. Crew.
The brands are focusing on what they do best rather than starting an entirely new image that Americans have never heard of. They’re staying true to their original core brands and learning from the mistakes of fellow British companies such as J Sainsbury Plc and Marks & Spencer Group Plc, who no longer do business in the U.S.
Nicola Formichetti is Diesel’s New Artistic Director
Renzo Rosso has found the perfect person to transform the Diesel brand he founded 35 years ago for a new generation of chic shoppers. This person is none other than fashion multi-tasker Nicola Formichetti, who recently departed from fashion house Thierry Mugler. Formichetti is Diesel’s first ever artistic director.
Rosso said that Formichetti will be responsible for “a total view of the Diesel brand- product, communications, marketing and interior design. I want him to do bigger things, different things. This is the right man to take the next step for a young company and a brand for people who are young of mind.”
Fifth & Pacific Hiring Bankers for Juicy Couture and Lucky Brand
Fifth & Pacific Cos. Inc. has hired two investment banks to sell off Lucky Brand and Juicy Couture. The company formerly known as Liz Claiborne Inc. will be focusing on Kate Spade, which is thriving. Perella Weinberg Partners has been hired to sell Lucky while Centerview Partners is handling Juicy, according to sources. Selling off Lucky and Juicy would leave Fifth & Pacific with Kate Spade and a smaller private label jewelry business.
In 2011, the former namesake brand, Liz Claiborne, was sold to J.C. Penney Co. Inc. At its height, the parent company owned more than 30 brands and produced revenues of over $5 billion.
Source: WWD & Bloomberg.com
Image: Bloomberg.comSee the Top Ten Summer 2016 Trends for Women Over 40
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