Fashion Braces for a Tough Second Half

Shein: Fashion's Biggest Polluter; Who Gets to Own a Fashion Meme?

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WHAT YOU NEED TO KNOW TODAY: FRIDAY, AUGUST 30, 2024 Major US retailers said this week that consumers are still spending, but it may require discounts and other incentives to keep them shopping. Trademark applications for the viral phrase "very demure, very mindful" have prompted questions over the value in owning an online trend. Shein's emissions have nearly tripled in the last three years as sales boomed. Gap Inc. reported stronger-than-expected sales growth in the second quarter, a sign that the company's turnaround is working.

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RETAIL Consumers Are Still Spending, but Retailers Are Bracing for Impact By Joan Kennedy

Gap, Foot Locker, Abercrombie and other retailers issued cautious outlooks for the remainder of the year even as they reported strong second-quarter sales. It's the latest indication that all is not well with American consumers. READ MORE

MARKETING Who Gets to Own a Meme? By Yola Mzizi

Multiple people applied to trademark the viral phrase "very demure, very mindful," bringing into focus the question of who gets to capitalise on cultural moments. READ MORE

CLIMATE CHANGE Shein: Fashion's Biggest Polluter in Four Charts By Sarah Kent

The ultra-fast-fashion giant's planet-warming emissions have nearly tripled in the last three years as its growth far outpaced other major fashion companies. In Shein's latest sustainability report, CEO Sky Xu says tackling emissions is "particularly critical." READ MORE

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NEWS BRIEFS Lululemon Cuts Annual Forecasts on Tepid Us Demand, Rising Competition Gap's Surprise Earnings Release Shows Strong Second Quarter The Independents Expands to Middle East With Latest Acquisition Birkenstock Disappoints Investors With Unchanged Outlook

BoF EVENTS

Valentino's Alessandro Michele and Jacopo Venturini to Speak at BoF VOICES 2024 The Business of Fashion is pleased to announce that Valentino's creative director Alessandro Michele and chief executive Jacopo Venturini will join us on stage at BoF VOICES 2024 to discuss their creative revamp of the iconic Roman fashion brand. Other BoF VOICES 2024 speakers confirmed so far include: Ravi Agrawal, editor-in-chief, Foreign Policy Josephine Philips, founder and CEO, Sojo Bohan Qiu, founder and director, BOH Project Brandon Wen, creative director, Royal Academy of Fine Arts in Antwerp  Clover Hogan, climate activist and founder, Force of Nature Please find a full list of the latest confirmed speakers here. A limited number of invitation-only tickets remain to join us in person at Soho Farmhouse from November 12 to 15, 2024. To request an invitation, please complete the application form below. APPLY NOW

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