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My-Wardrobe losses widen

Monday, March 5th, 2012

My-Wardrobe has widened its losses to £3.8m, or $6m for the year to June 30, 2011 as the etailer relocated from Nottingham to London.

According to accounts filed at Companies House last week, the premium etailer’s losses widened from £1.9m ($3m) in 2009/10. It said its London move cost £130,000 ($205,000) and an increase in studio size added a further £55,000 ($87,000) to overheads.

Despite the loss, the company grew its revenue 75% to £12.7, or $20m. Trading EBIDTA stood at £3.1m ($4.9), up from £1.8m ($2.8) in 2009/10.

UK sales, before returns, soared 90% year-on-year and the average order value of £184 ($290) grew 25% on the previous year.

Year-on-year sales in Europe jumped 110%, with an average order value of £189 ($298), up 11%.

Sales across the rest of the world were up 120% with average order values (AOV) up 34% to £219 ($346). All dollar figures have been calculated at the rate of current exchange.

Bringing on board new brands including Marc by Marc Jacobs and 3.1 Phillip Lim for autumn 11 and Burberry Brit and Issa for spring 12 had helped push up AOV growth.

My-Wardrobe said it was taking steps to reduce reliance on the UK market, introducing plans for international expansion.

The etailer has revamped its website to prepare it for overseas growth. It now offers localised language and currency options in Scandinavia which will be rolled out into Australia and the Middle East.

A round of funding with existing investors last September raised £2.3m ($3.6m) to support infrastructure development. The company expects this will help provide sufficient working capital and help it reach profitability in the short-term.

Tight cost control will help the company reach profitability in the short-term and be cash generative, it said in a statement.

My-Wardrobe is to hire a chief executive to take over from founder Sarah Curran in the next couple of months. The new boss will focus on global expansion while Curran turns her attention to user experience, creative direction and further development of the brand and the website.

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Tesco launches virtual fitting room

Wednesday, February 29th, 2012

Supermarket retailer Tesco today (29 February) launched an online 3D virtual fitting room service to help shoppers find the right garment style, fit and size based on their individual measurements, in hopes of boosting its clothing sales online and reduce returns.

The virtual fitting room is available to customers of its F&F fashion line, and lets shoppers create 3D digital versions of themselves from a photograph uploaded on to the retailer’s Facebook page. Tesco is conducting a 6-8 week trial of the service via its clothing Facebook page, which has over 170,000 followers.

The technology takes measurements from the photograph, recommends sizes, and enables online shoppers to see how short a dress might look. They can even style different outfits, trying various skirts, tops and jackets to find the perfect matching look – all with no queue for fitting rooms. Tesco claims to be the first retailer to use the technology, which has been developed by London based technology start-up Metail.

Emily Shamma, director of Tesco Clothing Online explained: “Although there has been talk about ‘virtual fitting rooms’ before, until now the technology has not been able to combine styling, accurate fit and size based on peoples’ specific measurements. Shopping with your virtual self helps you to see what dress might suit you best, what top goes with those skinny jeans or how a jacket might look with a particular skirt. It is also quick and easy to use, particularly for customers who don’t have the time or dislike having to trek around the shops.”

As well as uploading full length photographs of themselves, customers also have the opportunity to key in their body measurements and a photo of their face. The F&F fitting room then creates a unique virtual body, and suggests sizes based on the details submitted.

Customers will be able to choose from a selection of 50 new season items, and a further 10 garments will be added each week during the trial. If customers like what they try on, they can add to basket and purchase on the Tesco clothing website.

The F&F virtual fitting room also gives customers the opportunity to try out various hairstyles to create different looks and even the option to share their favourite outfits with selected friends on Facebook for feedback.

Shamma added “This is a really exciting opportunity for online clothing retailers. We know the main reason people get nervous about buying clothes online is simply because they cannot try them on first.” she believes that the virtual fitting room could lead to an increase in revenues for the retailer. “If our customers tell us they like this, we could see real business benefits, not only with more people opting to shop online for clothing, but also helping to reduce returns, commonly caused by people ordering the wrong size,” she added.

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Google In Talks To Take On Amazon In E-commerce

Friday, December 2nd, 2011

Google Inc. is reportedly launching an Internet service to help consumers shop online and take advantage of same-day delivery for a low fee.

The Web search giant is in talks with major retailers about creating a platform that would allow consumers to shop across a variety of storefronts. According to the WSJ, Google does not plan to sell items directly to consumers. Instead, the company will meld its search engine’s product-search feature which directs shoppers to participating retail websites, with a new quick-shipping service that will be overseen by Google.

Google is said to have held talks with major retailers and shippers, including Macy’s Inc., OfficeMax Inc. and Gap Inc., to set up the service. The talks could also involve shippers such as United Parcel Service Inc. (UPS) and local courier companies.

The move would reportedly enable Google to enter the fast-growing world of Internet retailing and challenge online retailer Amazon.com Inc. which promises quick delivery on purchases by people who pay $79 annually to be members of Amazon Prime program.

Payment and fulfilment would be speedy with Google Wallet, technology launched in March that allows consumers to buy items with a single tap. Macy’s, which partnered with Google Wallet to enhance its in-store shopping experience, has been cited as one of the retailers Google is targeting. Macy’s could not be reached for comment. Another potential partner, Gap, said it had no comment.

Google reportedly hopes the quick-shipping service will attract more to its product-search service and increase its revenue from product-related advertisements on the search site. The company is said to be hoping to launch the service sometime in 2012.

GOOG closed Thursday’s trading at $613.77, up $14.38 or 2.40 percent on a volume of 3.62 million shares.

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Louis Vuitton goods worth £257,000 stolen in Paris

Monday, November 28th, 2011

Just weeks after the Marc Jacobs Spring/Summer 2012 collection was stolen in transit from Paris thieves now have made off with Louis Vuitton merchandise in a raid at Roissy-Charles de Gaulle airport on Friday night.

French police are investigating the theft of several hundred thousand euros’ worth of Louis Vuitton merchandise at the Roissy-Charles de Gaulle airport on the outskirts of Paris, a source close to the inquiry said Friday.

Five masked raiders broke into the Roissy-Charles de Gaulle airport on Friday night neutralized a security guard and four employees at the airport’s freight terminal overnight, making off with around 10 pallets of merchandise valued at a minimum of €300,000, (£257,000 or $400,760 at current exchange), according to French news agency AFP. No further details have yet been released and Louis Vuitton have declined to comment thus far.

Earlier this month, samples of the Marc Jacobs spring/summer 2012 collection were stolen in transit. In a letter to editors the Marc Jacobs PR team said: “Dear all, the Marc Jacobs PR team is sorry to inform you that our press day tomorrow in the Marc Jacobs store [in London] is cancelled, due to the theft of the spring/summer 2012 collections during its transfer from Paris.”

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Topman to Launch Monthly Online Magazine

Wednesday, November 23rd, 2011

U.K.-based high street retailer Topman has announced it will launch a monthly online magazine called Topman Generation on Nov. 30. The retailer is that latest addition to the expanding list of e-commerce sites banking on editorial content to draw in shoppers.

Accessed globally via a link on topman.com, the interactive title will offer feature stories, opinion pieces, culture guides and multimedia extras. The magazine has been designed by London-based M&C Saatchi to be accessible via computer, tablet or mobile phone without downloading a dedicated app.

“It’s fashion-focused but takes into its sway film, music, cultural opinion, modern icons, great art, sport,” said John-Paul Pryor, editor of the magazine and previously the arts and culture editor at Dazed Digital. “I think people will be surprised at the kind of things in there.” It includes interviews with Yoko Ono, Seth Rogen, the Chapman Brothers, Perry Farrell, Kirsten Dunst, Ezra Miller, The Jesus and Mary Chain and Miranda July.

Each digital story will incorporate shopping features that allow readers to immediately purchase items worn by subjects in the magazine’s features or fashion layouts. The London-based fast-fashion retailer is putting e-commerce secondary to the editorial mission of the magazine, noted Topman executives.

“Articles will have related products represented at the bottom of the article so that these can be bought from our site — however these have to be truly relevant and inspirational,” explained Grazia Amico, Topman’s head of e-commerce.

“The premise of this project is engagement and information at the forefront, with commercialization secondary,” added Jason Griffiths, Topman’s marketing director.

Topman is the sibling chain to Topshop. Both are owned by Sir Philip Green’s Arcadia Group.

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Valentino to launch virtual museum

Tuesday, November 22nd, 2011

A virtual Valentino museum will launch next month, providing an insight into the world of the Italian fashion house.

The Museum is to be a downloadable desktop application; it’s the first of its kind from such a massive designer. Valentino will open up his archive of 5,000 images of dresses, illustrations and photographs plus 95 fashion show videos to the public, as a downloadable desktop application on December 5th. Thanks to 3D technology, The Valentino Garavani Virtual Museum will give users the sensation of attending a real museum, featuring more than 300 dresses. Outfits will be accompanied by anecdotes, red carpet images and illustrations, as well as advertising campaigns and editorials.

Created by Valentino Garavani, who retired from his eponymous fashion house in 2008, and business partner Giancarlo Giammetti, the online museum will focus on 50 years of the fashion house. Valentino said they were launching the “Garavani Virtual Museum” so that students, young designers and others in the industry can study every aspect of Valentino’s work in a manner easy and accessible for the younger generations. He sees the museum as a part of his legacy and said he believes it is “important to remember things of the past, to review the fashion that has shaped our lives. I would call it “Future Memory”.’

Rather than build an actual museum to house their extensive archive, the duo deliberately wanted to make this an online venture. ‘It is an idea that I had many years ago, after going through a great museum site and being able to navigate through these rooms full of paintings,’ Giammetti said, referring to the site for the Barnes collection in Pennsylvania as his original impetus. ‘But it was real. It was just a camera going around. I asked myself if it would be possible to recreate a vast computer-generated museum. We started designing and nothing really appealed to me. I wanted to have the light of Rome without looking old. I wanted to show not only the dresses but the history behind them, from the drawing to the women who wore them.’

Labels including Armani, Max Mara and Dior have already opened museums commemorating their fashion history, while this September Italian luxury brand Gucci unveiled the Gucci Museo in Florence’s historic Piazza della Signoria. Online galleries are less commonplace, although they have been done before: in 2009 Italian fashion house Salvatore Ferragamo launched an online museum detailing its style history, featuring images and vintage films.

Previews of the site are being released via Facebook, Twitter and YouTube, allowing the public to comment on the launch and see contents of the museum. You can watch a video preview of the museum here.

Valentino and Giammetti will fully unveil the museum online, with a press conference being live steamed on You Tube. The desktop application can be downloaded from December 5 at http://valentino-garavani-archives.org.

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Benetton Returns to Shock Tactics

Thursday, November 17th, 2011

Benetton launches their latest advertising campaign – ‘Unhate’ project – which features arresting images of world leaders locking lips.

The Italian fashion group launched the ‘Unhate’ project today, kicking off a series of printed and online ads. The campaign’s adverts include digitally altered pictures of half a dozen world leaders to show them kissing. Examples include US President Barack Obama smooching Chinese leader Hu Jintao, Germany’s chancellor Angela Merkel with French president Nicolas Sarkozy and the pope kissing an imam.

The latter caused unrest and Benetton was forced to pull one of its images from its new ‘Unhate’ campaign. The clothing company has withdrawn the photograph featuring Pope Benedict XVI kissing a senior Egyptian imam on the lips after the Vatican denounced it as an unacceptable provocation.

Vatican spokesman Fr Federico Lombardi is quoted in various sources. “We must express the firmest protest for this absolutely unacceptable use of the image of the Holy Father, manipulated and exploited in a publicity campaign with commercial ends,” he said. “This shows a grave lack of respect for the Pope, an offence to the feelings of believers, a clear demonstration of how publicity can violate the basic rules of respect for people by attracting attention with provocation,” he said.

Benetton had claimed its campaign was aimed at fostering tolerance and ‘global love’ believing that the “symbolic images of reconciliation” will encourage people of differing opinions to work together using dialogue and mediation.

Shock ads have long been a part of Benetton’s publicity strategy, with photographer Oliviero Toscani’s famous campaigns featuring death row inmates and people dying of AIDS. However, this time the shocking campaign has been interpreted by some as an attempt to rekindle the brand’s bold image from the 80s and 90s following news this week that the group’s third quarter net profits dropped by 33% as costs rose and revenues slipped.

Benetton’s Unhate campaign was created by its ‘research communication centre’ Fabrica.

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Gilt.com enters the UK flash Sales ring

Thursday, November 17th, 2011

US private sales etailer Gilt.com will launch today (November 17) n the UK as part of a global expansion into more than 90 countries.

The members-only site, credited with pioneering flash sales in the US in 2007, will join an swelling sector of online retailers in Europe offering insider discounts on premium brands.

Every day at 5pm Gilt’s registered shoppers gain access to more than 20 sales with up to 60% off on fashion, accessories and homewares. Membership is free to anyone who registers online at gilt.com/uk. Offers have a limited inventory and last roughly 36 hours.

The site works with more than 6,000 designer brands including Missoni, Vera Wang, Proenza Schouler, Paul Smith and Dolce & Gabbana. Kidswear brands include Jacadi, Marie Chantal and Baby Bjorn.

Founder and chief executive of Gilt Groupe, internet entrepreneur Kevin Ryan, said: “We take great pride in putting together a curated selection of designer merchandise each day, allowing our members the ability to shop current season collections at a steep discount to retail prices.”

Gilt will be up against stiff competition on this side of the Atlantic. Last month, private Sale etailer BrandAlley, which is part-owned by News International, posted a 70% boost in sales for the first nine months of the year. It gained 75,000 new customers and sales soared to £23m ($36m) over the period.

Online retail consultant Leon Bailey-Green last month said the market is getting tougher. “There’s less fashion products available. Since the recession, brands are making less so it’s very competitive [to get brands on the sites],” he said.

Meanwhile another major flash Sale site Cocosa, which was acquired by former Harrods boss Mohamed Al Fayed in July, shook up the sector recently by dropping its membership wall.

Gilt.com is working with e-commerce services provider FiftyOne to extend its US site to a global audience.

Next month, Gilt.com will launch a mobile website and apps for its non-US members, while Gilt Groupe will also introduce its luxury menswear site, Park & Bond to the UK.

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