Fashion Nova to pay $9.3 million in refunds

Fashion Nova to pay $9.3 million in refunds - WAFB

Fashion Nova to pay $9.3 million in refunds - WAFB
Anna Wintour calls on the fashion industry to 'rethink our values' - CNN
Martinez native has a shot at $1 million on Heidi Klum’s fashion-design show - The Mercury News
Target's Fashion Business Down Sharply in COVID-19 Crisis - WWD
Netflix Show ‘Narcos’ To Become a Fashion Brand - WWD

Fashion Nova to pay $9.3 million in refunds - WAFB

Posted: 23 Apr 2020 11:32 AM PDT

[unable to retrieve full-text content]Fashion Nova to pay $9.3 million in refunds WAFB

Anna Wintour calls on the fashion industry to 'rethink our values' - CNN

Posted: 23 Apr 2020 10:25 AM PDT

[unable to retrieve full-text content]Anna Wintour calls on the fashion industry to 'rethink our values' CNN

Martinez native has a shot at $1 million on Heidi Klum’s fashion-design show - The Mercury News

Posted: 24 Apr 2020 03:06 AM PDT

Jonny Cota, a savvy fashion designer who was raised in Martinez and graduated from Alhambra High School, has a shot at the $1 million grand prize when the season finale of "Making the Cut" drops Friday, April 24, on Amazon Prime.

"Making the Cut," a new 10-episode fashion competition headlined by former "Project Runway" personalities Heidi Klum and Tim Gunn, began streaming on March 27 with 12 established designers who were culled from thousands. After competing in New York, Paris and Tokyo to bring their brands to a new level, the field was trimmed to three — Esther Perbandt and Sander Bos and Cota.

In the Friday finale, one designer's journey comes to an end — leaving the last two to present a business pitch to the president of Amazon Fashion and showcase a final 12-to-14 look collection.

The winner receives a mentorship, an exclusive line on Amazon, and $1 million to invest into their brand.

In a Thursday Instagram post, Cota expressed his joy over being the only American left in the competition.

"Isn't that crazy?" he wrote. "I have hustled all my life to try to make my fashion dreams come true but never did I imagine that I'd be representing America in a global fashion competition on @amazonprimevideo. …"

After attending Alhambra, Cota graduated from UC Santa Cruz with a degree in journalism. (We applaud him for taking a different path). He is known for is "edgy, progressive streetwear." You can get a feel for his approach at his website, skingraftdesigns.com.

When Klum and Gunn introduced the show to journalists back in January, they stressed how different "Making the Cut" is from "Project Runway." Not only does the new show have a bigger budget and a global reach, it also goes beyond fashion design to emphasize the building of a brand. (The winner's exclusive collection will launch in Amazon Fashion's stores in the U.S. following the series finale).

"When you have a bigger budget, you get to travel and let these designers see different things," Klum said. "It makes for a better show."

Target's Fashion Business Down Sharply in COVID-19 Crisis - WWD

Posted: 23 Apr 2020 08:34 AM PDT

Target Corp. might be one of retail's best-positioned companies, able to stay open during the coronavirus crisis, but it's still getting walloped as the company spends more to support its employees and consumers rush to spend more on low-margin essentials and pass by the fashion offering.

That's forced the company to write down the value of its fashion inventory.

Investors pushed shares of Target down 2.7 percent to $103.97 in midday trading on Wall Street on Thursday. Still, the company is largely open for business, which is more than many can say in retail.

Brian Cornell, chairman and chief executive officer of Target, said the company was seeing "record-setting digital growth" and "strong demand for our same-day fulfillment services."

"While this crisis will certainly put near-term pressure on our profitability, that pressure is far outweighed by doing right by our team and our guests," the ceo said. "We're confident the actions we're taking today will drive growth and greater guest affinity over the long-term."

So far in the first quarter, Target's comparable sales are up more than 7 percent, with a slight decline at stores and better than 100 percent growth online. The essentials and food and beverage category comped up by more than 20 percent, but apparel and accessories declined by more than 20 percent.

For March, comps in essentials and food and beverage increased 40 percent while apparel and accessories fell by more than 30 percent.

Trends in early April were similar to late March, but started to improve after mid-month. So far this month, Target's comps increased more than 5 percent with web sales up over 275 percent and apparel and accessories down more than 40 percent.

Charlie O'Shea, lead Target analyst at Moody's Investors Service, said, "The mix of sales, specifically the significant softness in apparel, indicates that consumers, once they decide to go to the store or hit the website, are focused on efficiency and 'needs vs wants' as necessities are driving the significant increase in comp store sales, as well as the explosive growth online."

While Target's essentials business is up strongly, it's come at additional risks for its employees and costs for the company.

Cornell said Target's improved wages and benefits would be extended through May 30. The retailer is paying workers an extra $2 an hour and also providing backup care for employees and a 30-day paid leave for employees who are 65 or older, pregnant or who have underlying medical conditions.

This all comes on top of the $300 million Target has already put into wages, bonuses, paid leave and benefits for its frontline team members.

"We have deep gratitude for the remarkable effort our team has put into supporting guests across the country," Cornell said. "We remain committed to prioritizing our efforts to provide for their well-being so they can take care of themselves and their families during this unprecedented time."

Seth Sigman, a stock analyst at Credit Suisse, said the spending would ultimately help Target build its business, even it is currently weighing on the bottom line.
"We view the current margin pressure as an investment, one that is driving new customer acquisition, market share gains, and serving the customer during a time of need," Sigman said. "We get the negative argument here – best of sales with declining profitability. Yet, the payback will be significant over time."

Netflix Show ‘Narcos’ To Become a Fashion Brand - WWD

Posted: 23 Apr 2020 12:34 PM PDT

The worlds of entertainment and fashion seem to be growing ever closer.

French film studio Gaumont has partnered with e-commerce platform Dropdaze to spin off a designer brand from the Netflix crime drama, "Narcos Los Angeles," which was just renewed for season 5.

The brand will include men's designer fashion such as military jackets and pants, graphic tees and hoodies, soccer uniform sets, jewelry with handcrafted-in-L.A. hardware and lifestyle goods.

The collection will be available online this year, according to a release, and through pop-up shops in key markets.

The gangster drama series tells the true story of Colombia's drug cartels, drug kingpin Pablo Escobar and his interaction with the Drug Enforcement Agency. It has a following worldwide, and is the number one series in the Middle East. The show's 1970s and '80s crime boss, lady boss and hustler looks (by costume designer Maria Estela Fernandez) have garnered coverage in publications ranging from Dazed to Oprah magazine.

The collection is the latest foray for streaming TV into fashion branding; in 2017, Hulu enlisted indie New York label Vaquera to create a collection inspired by its hit series "The Handmaid's Tale." And Amazon Prime Video's fashion competition series "Making the Cut" has its finale April 24, when the winner will launch a collection for sale on the e-commerce and content platform.

Born in France in 1895, Gaumont is celebrating 125 years in the film and TV industry, with offices in Paris, Los Angeles, London, and Berlin, Gaumont produces and distributes a slate of programming that includes the Netflix series "Narcos" and "F is for Family," and for Amazon Prime Video, the Latin American production based on the 2015 "FIFA Gate" corruption scandal.

Dropdaze is an e-commerce platform founded by Will Jarvis, Neil Saada, and Amaury Bargioni, who previously worked together in the streetwear space. The business plans to release high-end capsules from names across creative industries, inspired by everything from a TV show to a cult movie, to an Instagram personality or streamer, beginning in early 2021.