Amazon’s long-rumored luxury platform, now known as Luxury Stores, finally launched on Tuesday after months of speculation. Amazon’s main appeal to brands is its scale, but out of the gate, the platform doesn’t make much use of its 112 million Prime members. Luxury Stores is launching with only one brand, Oscar de la Renta, and is invite-only, with the first round of invites going out yesterday. The small scale, single brand, small selection and invite-only model mean that Luxury Stores' potential to drive sales is limited.
J.Crew has had problems for years — but the coronavirus accelerated all of them. Now, the retailer is filing for bankruptcy. The question remains: how did it get here? And will it ever be able to rebound again?
Late last year, DTC footwear brand Allbirds surpassed a $1 billion valuation, making it one of the largest DTC success stories of the last decade. But while an eventual IPO from either Allbirds or one of the other comparable DTC juggernauts like Warby Parker seems inevitable, it won't necessarily open the floodgates for others in the space.
Fashion resellers do not have access to the same tools and strategies that brands and retailers can employ, like collaborating on a new product or dropping a hyped collection. Instead, they have to turn to other strategies to draw attention and bring in new customers. Celebrity closet sales are one way that resellers are making that happen.
Showfields, the experiential rotating retail space in New York City, opened on Tuesday its fourth floor, which had been under construction since the store’s opening in March. Rather than dedicate the fourth floor to more retail space, Showfields designed it to be a coworking space.
When Topshop announced last week that it was filing for bankruptcy in the U.S. and liquidating all U.S. stores, it should not have come as a surprise.
At the Modern Retail Summit LIVE, retail executives will come together virtually to discuss effective strategies for driving sales by building a loyal customer base both online and offline.Buy Passes