Inside Russia’s Wartime Fashion Market

Luxury Brands Climb TikTok Ranks; Pellicano Strikes €200 Million Deal

ADVERTISEMENT

WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, AUGUST 9, 2023 From supply chains to ownership structures, Russia's fashion market has changed. Luxury brands are beginning to elbow out fast fashion for Gen-Z's attention on TikTok. Fashionable hotel group Pellicano has struck a €200 million deal with Aermont Capital. Advent is buying Zimmermann from its founders and Style Capital in a $1 billion deal. Olaplex shares fell after the haircare company cut its full-year sales guidance amid weak demand.

TOP STORIES

GLOBAL MARKETS Explainer: How Russia's Wartime Fashion Market Works By Tamison O'Connor

Russia's invasion of Ukraine has been devastating for businesses in Kyiv and changed the dynamics of the fashion industry in Moscow more profoundly than anyone expected early last year. READ MORE

LUXURY How Luxury Finally Cracked TikTok By Joan Kennedy

Higher-end fashion labels have become more prolific on the short-form video app in 2023. BoF unpacks how brands are growing buzz on TikTok. READ MORE

LUXURY Pellicano Strikes €200M Investment Deal, Sets Expansion Plan By Tamison O'Connor

The fashionable hotel group is set to add another five to seven Italian locations to its portfolio with the backing of new investor Aermont Capital. READ MORE

RETAIL Advent Buys Zimmermann in $1 Billion Deal By Reuters The private equity giant is acquiring a majority stake in Australian fashion brand from the founding family and Italian fund Style Capital. READ MORE

BoF PROFESSIONAL Join now and enjoy your first 30 days for just $/£/€1 START TRIAL

NEWS BRIEFS Olaplex Plunges After Weak Demand Drives Guidance Cut JD Sports to Take Full Ownership of Poland's MIG Under Armour Posts Surprise Profit on Easing Cost Pressures Allbirds Smaller-Than-Expected Sales Dip Leads to Stock Gain

BoF CAREERS

On Is Hiring Opportunities at On include a Creative Lead and a Social Engagement Lead (EMEA) in London, an Innovation Concept Designer, Head of Brand Experience, a Brand Media Planner and a Apparel Developer at their Head Office in Zurich. On is a global sportswear brand founded in 2010. Born in the Swiss Alps, the company began with footwear with cushioning technology, CloudTec. Today, On has expanded from footwear to apparel and accessories for high-performance running, outdoor and everyday activities.  VIEW JOBS

The Business of Fashion AGENDA-SETTING INTELLIGENCE, ANALYSIS AND ADVICE FOR THE GLOBAL FASHION COMMUNITY. CONNECT WITH US ON CONTACT US ETHICS POLICY SPONSORSHIP & ADVERTISING JOB OPPORTUNITIES This email was sent to edwardlorilla1986.paxforex@blogger.com Update your preferences or unsubscribe from this list. All services provided are subject to our Privacy Policy. The Business of Fashion Ltd The Business of Fashion, Soho Works 2, Television Centre, 101 Wood Lane, London, W12 7FR, United Kingdom businessoffashion.com