Trillion Dollar Fashion Industry Advancing Nicely Behind Strong Consumer Spending
01 Aug, 2018, 08:30 ET
PALM BEACH, Florida, August 1, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The global fashion and apparel industry is valued north of $3 trillion, making up two percent of the Gross Domestic Product (GDP) according to FashionUnited.com. Spending in the space continues to uptick as companies deploy smart technologies like Artificial Intelligence and machine learning to observe and learn consumer spending habits. Additionally, the fashion space is dominated by trends and one of the hottest topics in 2018 has been active wear, as well as 'athleisure', a hybrid of formal and athletic apparel. In the last several years, the global market of Online Lingerie has also developed rapidly, with an average growth rate of 12.48%. In 2017, global revenue of Online Lingerie hit nearly $33.4 Billion USD. Active companies in the markets this week include Naked Brand Group Limited (NASDAQ:NAKD). New York & Company, Inc. (NYSE:NWY), Duluth Holdings Inc. (NASDAQ:DLTH), ascena retail group, inc. (NASDAQ:ASNA), Chico's FAS, Inc. (NYSE:CHS).
Naked Brand Group Limited (NASDAQ:NAKD) BREAKING NEWS: Naked Brand Group, a global leader in intimate apparel and swimwear (the 'Company' or 'Naked'), has announced an agreement between its wholly-owned subsidiary Bendon Limited ('Bendon') and CVS Health (NYSE: CVS), a leading pharmacy innovation company helping people on their path to better health. Under the terms of the agreement, Bendon's master licensed Heidi Klum Intimates Solutions line has been featured in over 4,000 CVS locations across the United States.
The Heidi Klum Intimates Solutions line features an array of over 20 essential wardrobe and red-carpet-ready products from dressing tape and converters to strapless, backless stick on silicone bras. The brand sets a new standard in the category by fusing the fashion and cosmetics industries with a fresh and modern approach to brand positioning and packaging. The line is carried in the cosmetics department, which typically see the highest foot traffic of any department within a CVS Health location and represents the largest single retail footprint of any Naked Brand Group Limited licensed or wholly-owned brand. According to a 2018 report by Statista, retail sales value of the women's accessories market in the U.S. totaled $31.9 billion in 2017.
Heidi Klum's credentials as host and executive producer of Project Runway and Germany's Next Top Model, in addition to an illustrious career as a supermodel and red carpet regular, provides her with unrivaled experience to enter the Solutions category.
"We are pleased to have launched a long-term strategic partnership with CVS Health, which has placed our high-margin Heidi Klum Intimates Solutions line in over 4,000 retail locations across the United States," stated Justin Davis-Rice, Chief Executive Officer of Naked Brand Group Limited. "This move greatly diversifies not only our distribution base, but our product offering as well, providing the Heidi Klum Intimates line representation outside of lingerie, but in a complimentary category. In the first year, we expect significant retail sales from this relationship with a gross margin profile much higher than our traditional product lines. We look forward to further developing our commercial relationship with CVS Health to include other brands and products across our diversified portfolio," concluded Mr. Davis-Rice. Read this and more news for Naked Brand Group at http://www.marketnewsupdates.com/news/nakd.html
Other recent developments in the apparel industry include:
New York & Company, Inc. (NYSE:NWY) was recently added as a member of the US small-cap Russell 2000® Index, effective June 25, as part of the 2018 Russell indexes reconstitution. Membership in the Russell 2000® Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. New York & Company is a leading specialty manufacturer and retailer of women's fashion apparel and accessories providing women with modern, wear to work solutions that are multi-functional at affordable prices. The Company was incorporated in 1918 and has been public since 2004. It is headquartered in New York City. New York & Company's proprietary branded New York & Company merchandise is sold exclusively through its national network of over 500 New York & Company retail stores.
Duluth Holdings Inc. (NASDAQ:DLTH), a lifestyle brand of men's and women's casual wear, workwear and accessories, this month announced the grand opening of its 39th store in Arlington, Texas. The store is located at 620 E. Interstate 20, Arlington, TX 76018. "Our Arlington store is the third Texas location this year to serve our large customer base of Duluth brand fans," said Stephanie Pugliese, Chief Executive Officer of Duluth Trading. Centrally located between Dallas and Fort Worth, the City of Arlington is ideally situated to host many of the region's major sporting and entertainment events at its AT&T Stadium, home of the Dallas Cowboys.
ascena retail group, inc. (NASDAQ:ASNA) is a leading national specialty retailer offering apparel, shoes, and accessories for women under the Ann Taylor, LOFT, Lou & Grey, Lane Bryant, maurices, dressbarn and Catherines brands, and for tween girls under the Justice brand. ascena retail group, inc. operates ecommerce websites and over 4,800 stores throughout the United States, Canada and Puerto Rico. Ann Taylor Factory and LOFT Outlet launched an e-commerce sites to give clients 24/7 access to modern workwear pieces and feminine, versatile clothing from their favorite outlet brands. The sites feature exclusive merchandise with the Ann Taylor and LOFT aesthetic. Gary Muto, President and CEO ascena brands recently said "The new factory and outlet websites will enable us to enhance the shopping experience for our existing clients and introduce our brands to new clients."
Chico's FAS, Inc. (NYSE:CHS) is a cultivator of brands serving the lifestyle needs of fashion-savvy women 30 years and older. The Company's brand portfolio currently consists of three brands: Chico's, White House Black Market and Soma. Chico's brands are all specialty retailers of private label women's apparel, accessories and related products. Currently, they operate over 1,450 boutiques and outlets throughout the U.S. and Canada, and sell merchandise through franchise locations in Mexico. Chico's FAS announced in June that its Board of Directors declared a quarterly cash dividend of $0.085 per share of its common stock, a 3.0% increase over the dividend rate from September 2017. The dividend is payable on October 1, 2018 to Chico's FAS shareholders of record at the close of business on September 17, 2018.
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