Is Fashion’s Buy-Now, Pay-Later Boom Over?

Swatch-Owned Omega's Strategy; Inditex's New Sustainability Initiatives

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, JULY 12, 2023 Buy now, pay later services that have boosted fashion sales are coming under pressure from rising interest rates and inflation. Swatch Group's Omega will need to justify aggressive price hikes and overcome an authenticity scandal to meet ambitious targets. The men's skin care category is booming in China but some global beauty brands are losing market share to local competitors. Oritain, which traces the origins of cotton, leather and other materials, has raised $57 million from investors including Chanel. Inditex will expand resale and use more next-generation and recycled materials as part of a plan to halve emissions by 2030. The Vampire's Wife has reached an agreement to settle unpaid UK tax bills, avoiding liquidation.

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TECHNOLOGY Is Fashion's Buy-Now, Pay-Later Boom Over? By Marc Bain

Instalment payment services helped fuel sales for years. But high interest rates could soon have shoppers pulling back. READ MORE

LUXURY Can Switzerland's Third-Largest Watch Brand Continue To Rise? By Robin Swithinbank

Omega's sales have recovered and surpassed pre-Covid levels, CEO Raynald Aeschlimann said. But aggressive price hikes, step-and-repeat marketing and an authenticity scandal could challenge the Swatch-owned brand's ascent. READ MORE

CHINA Explainer: Why Men's Skin Care Is Booming in China By Tiffany Ap

Beauty brands are marketing "athletic skin care" grooming routines and science-backed ingredients alongside high-risk celebrity endorsements. READ MORE

SUSTAINABILITY Chanel-Backed Traceability Company Raises $57 Million By Sarah Kent Oritain has carved out a leading position helping brands and the US government detect the origin of commodities like cotton, coffee and leather. Investors are betting tightening regulation will turbocharge growth. READ MORE

Inditex Ups Sustainability Commitments as Regulators Take Aim at Fast Fashion READ MORE

The Vampire's Wife Settles With Tax Authorities, Sidesteps Liquidation READ MORE

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NEWS BRIEFS Nike Faces Canadian Probe Over Alleged Use of Forced Uyghur Labor Report: Revolution Beauty CEO Holt Would Quit as Part of Boohoo Peace Deal Amazon Fights EU Over 'Discriminatory' Online Content Rules Luxury Jeweller Bulgari Comes Under Fire in China Temu Sellers Are Now Copying Entire Amazon Storefronts, Lawsuits Allege

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PVH Is Hiring The PVH brands are currently hiring globally for a Design Director - Windows & Environments, a Key Account Manager E-Commerce and Store Manager at Calvin Klein, and a Press & Influence Assistant and a Senior Specialist E-Commerce Marketing at PVH.  With a team of more than 30,000 associates operating in 40 countries, the 140-year-old business PVH is one of the world's largest apparel companies. Its brand portfolio includes Calvin Klein and Tommy Hilfiger. VIEW JOBS

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