Behind the Luxury Auction Boom

New Life for Old Mannequins, Shopify Among Logistics Start-Up Investors

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WHAT YOU NEED TO KNOW TODAY: TUESDAY, FEBRUARY 8, 2022 Luxury goods are becoming a key category for auction houses despite the rise of resale sites. Judi Henderson-Townsend has built a full-time business rescuing thousands of mannequins once destined for the landfill. San Francisco-based logistics company Flexport's valuation more than doubled to $8 billion after a round that saw investment from Andreessen Horowitz and Shopify. Former Salvatore Ferragamo creative director Paul Andrew is relaunching his namesake shoe line this fall. The Row and Vaquera are the latest American brands to opt for Paris Fashion Week instead of showing in New York.

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LUXURY What's Driving the Luxury Auction Boom? By Robert Williams

Hermès handbags and Patek Philippe watches are becoming a key category for auction houses like Christie's despite rising competition from online resale start-ups. READ MORE

RETAIL Saving Fashion an Arm and a Leg (and Some Torsos Too) By Cathaleen Chen

Mannequin Madness is a company that salvages 60 tons of plastic and fibreglass figurines every year, highlighting an oft-overlooked area of sustainability in the industry. READ MORE

Paul Andrew Relaunches Namesake Brand READ MORE

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NEWS BRIEFS The Row, Vaquera To Show In Paris Peloton Surges on Reports of Buyout Interest From Amazon, Nike Shopify, Andreessen Invest in Flexport at $8 Billion Valuation Dolce & Gabbana Takes Perfumes and Cosmetics Business In-House Ahmad Swaid Appointed Editor-in-Chief of GQ Middle East

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At Gap Inc., Building Employee Pathways to Creative Excellence With over five decades of creative and cultural heritage to build upon, Gap Inc. — the parent company to American brands Old Navy, Gap, Banana Republic and Athleta — is leaning into their creative teams to drive the business forward in innovative ways. "The idea is to challenge conventional methods of design thinking and to expand the team's creative lens, investing and nurturing our creative talent to be inspired and to be inspiring," says Old Navy's executive vice president of design, visual merchandising and styling, Sarah Holme. READ MORE

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