Reimagining the Off-Price Ecosystem

Art Star Anne Imhof's Fashion Venture

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WHAT YOU NEED TO KNOW TODAY: THURSDAY, AUGUST 24, 2023 A big funding round for a new surplus inventory marketplace points to changes ahead for the booming off-price category. Performance artist Anne Imhof is selling merch at Dover Street Market. Qatar's sovereign wealth fund invested $1 billion into Reliance Retail Ventures, India's biggest brick-and-mortar retailer. US retail earnings continued to be a mixed bag, with Kohl's and Abercrombie topping forecasts, but Foot Locker falling short. Plus, revisit BoF's case study on the benefits and challenges generative AI poses for fashion businesses.

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TECHNOLOGY Can Technology Create a Better Off-Price Ecosystem? By Marc Bain

One start-up is trying to shake up the lucrative and entrenched off-price ecosystem by building an online marketplace to more efficiently connect sellers and buyers of retail's excess inventory. READ MORE

LUXURY Why Anne Imhof, Queen of Hardcore, Is Selling Merch By Tim Blanks The Berlin-based art star is selling hoodies, T-shirts, bombers and caps from her latest exhibition at Dover Street Market. READ MORE

GLOBAL MARKETS Qatar Investment Authority Invests $1 Billion in India's Reliance Retail Ventures By Bloomberg

The Gulf sovereign wealth fund will acquire a 1 percent stake in Mukesh Ambani's conglomerate, nearly doubling its valuation to $100 billion from its last funding round in 2020. READ MORE

Is Gap's CEO 'Kenough' for Investors Seeking a Turnaround? READ MORE

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NEWS BRIEFS Abercrombie Shares Soar After Boosting Full-Year Outlook Kohl's Beats Expectations as Inventory Levels Improve Foot Locker Plummets, Drags Down Peers, on Forecast Cut Bath & Body Works Sees Steeper Sales Drop on Slowing Demand

BoF CAREERS

Gap Inc. Is Hiring The Gap Inc. brands are currently hiring for a Director of Photography at Gap, a Merchandise Planning Analyst - Womens Denim at Old Navy, a Junior Digital Marketing Production Artist at Banana Republic, a Head of Design & Product Development at Athleta, and a Photo Assistant at Gap Inc. at their headquarters in San Francisco. Founded in 1969 Gap Inc. is the largest fashion retailer in the US and the fourth largest worldwide. The company employs over 129,000 employees in 13 international locations across its brands Gap, Banana Republic, Old Navy and Athleta. VIEW JOBS

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