Parade’s Sale and the State of DTC

China's Beauty Sales Take a Tumble; On's Upside Limited by Strong Swiss Franc

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, AUGUST 16, 2023 Gen-Z intimates brand Parade's sale to a little-known strategic points to a hostile market for unprofitable fashion start-ups. Chinese consumers are pulling back on prestige beauty as a value mindset takes hold in the country. A Canadian corporate ethics watchdog is investigating Ralph Lauren over the alleged use of Uyghur forced labour in its supply chain. Harvey Nichols chief executive Manju Malhotra is stepping down at the end of the year. Plus, as On Holding reports another quarter of record sales, revisit BoF's Case Study unpacking the Swiss shoe brand's success.

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DIRECT-TO-CONSUMER What Parade's Sale Says About the State of DTC By Malique Morris The Gen-Z intimates brand's sale to a little-known strategic is the latest in an ongoing series of less-than-desirable exits for unprofitable digitally-native start-ups. READ MORE

CHINA Why the Bottom Fell Out of China's Luxury Beauty Market By Tiffany Ap

After years of outsized growth in prestige cosmetics, consumers have pulled back on the typically recession-proof category. READ MORE

Running Brand On Says Strong Franc Is Weighing On Sales Growth READ MORE

As World Cup Breaks Records, Adidas, Nike Navigate Bumps in Retail Demand READ MORE

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NEWS BRIEFS Megha Kapoor Exiting Vogue India Harvey Nichols CEO to Step Down Strong US Retail Sales Underscore Economy's Resilience Peter Do to Collaborate With Banana Republic Canada's Corporate Watchdog Probes Ralph Lauren on Alleged Use of Forced Labour in China

BoF CAREERS

On Is Hiring Opportunities at On include an Athlete & Brand Storytelling Lead in London, a Marketing Lead (Canada) in Vancouver, an Accessories Materials Specialist, a Communications Lead DACH, an Art Director and a Data Analyst (DTC Operations) 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

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