Is There Room for Another Activewear Giant?

Fashion's Endless Wait for a 'Super App'; H&M Probes Myanmar Factory Abuses

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WHAT YOU NEED TO KNOW TODAY: THURSDAY, AUGUST 17, 2023 Armed with $400 million from SoftBank, Vuori thinks it can crack activewear's top tier. The window for a "super app" that combines shopping, social media and banking has likely closed in the West, a new report finds. H&M is investigating 20 alleged instances of labour abuse at Myanmar garment factories. Clare Waight Keller has designed a collection for a new Uniqlo label. T.J. Maxx's parent raised its fiscal outlook for 2024, citing increased demand for discounted clothing.

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RETAIL Is There Room for Another Activewear Giant? By Cathaleen Chen

A giant investment from Softbank in 2021 turbocharged expansion plans at Vuori, which is now eyeing global expansion and a takeover of its customers' closets. But Lululemon, Nike and a host of direct-to-consumer competitors stand in its way. READ MORE

TECHNOLOGY Why Fashion Should Be Sceptical About Elon Musk's 'Super App' By Marc Bain

A "super app" combining social media, payments, shopping and more would theoretically be a major step to unlocking social commerce and livestream shopping in the West, and Elon Musk says that's exactly what he wants to build. He shouldn't get his hopes up. READ MORE

RETAIL H&M Probes Myanmar Factory Abuses as Pressure Intensifies By Reuters

The Swedish fast fashion giant is investigating 20 alleged instances of labour abuse at its Myanmar suppliers just weeks after top rival Inditex said it was phasing out factories in the Southeast Asian country. READ MORE

Uniqlo Taps Clare Waight Keller for Fall Capsule READ MORE

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NEWS BRIEFS Brazil's Natura Sees Cash Boost Later in Year Following Q2 Loss T.J. Maxx Parent Lifts Annual Forecast on Demand for Discounted Apparel Target Sees Profit Boost on Fewer Discounts, Pride Backlash Hurts Sales Tencent Revenue Disappoints in Warning for China Tech Sector

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