Karl Lagerfeld Expanding Line in US
Karl Lagerfeld’s designs are returning to the US! The iconic designer’s New York-based namesake label was discontinued almost a decade ago, but now he’s signed on with a new partner. The joint venture is with G-III Apparel Group Ltd and the duo will debut a new Karl Lagerfeld Paris range for spring 2016, tailor-made for the US “affordable luxury” market. The collection will focus on bags, apparel and outwear and will launch in department stores. Plans are in the works for a New York flagship store and there’s reportedly potential for several other locations. “We’re very confident there will be a strong foothold from the start. It can potentially become the biggest geography for us very soon,” Pier Paolo Righi, president and CEO of Karl Lagerfeld Group BV, said.
Old Navy’s Retail Revival
Old Navy has unexpectedly become a strong asset to Gap Inc.’s performance. The bargain retailer’s turnaround is a lesson in messaging, merchandising and loyalty marketing. First quarter sales at Old Navy rose to $1.4 billion, from $1.35 billion in the same period a last year. To compare, Gap’s fiscal first quarter sales are $735 million and Banana Republic sales are posted at $515 million. Each Gap Inc. owned brand is experiencing declining year-over-year sales. In 2014 alone, Old Navy rang up $6 billion in sales, which is almost equal to Gap and Banana Republic combined.
Apple Watch Arriving in Stores
Apple has announced its in-demand Apple Watch will be available in brick-and-mortar stores at the end of next week. The smartwatches are currently only available for purchase online and at select luxury boutiques. The tech giant hasn’t released any official numbers, but the demand for the watches has resulted in backordered watches. Most Apple Watch orders placed in May should be shipped within the next week. “The response to Apple Watch has surpassed our expectations in every way,” said Apple senior vice president of operations Jeff Williams. In other Apple news, the company has recalled Beats Pill XL speakers because of issues with the batteries overheating.
– Claire Mykrantz
Source: WWD, Forbes, Industry Week
Image: WWDSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: apple, Apple Watch, Banana Republic, Claire Mykrantz, Fashion Headlines, fashion news, Forbes, G-III Apparel Group Ltd, Gap, Gap Inc., Industry Week, Jeff Williams, Karl Lagerfeld, Karl Lagerfeld Paris, Old Navy, Pier Paolo Righi