Tariff chaos continued this week as inflation rose and retail sales dropped more than expected. In lighter news, both skinny and extreme wide-legged jeans are trending and White Lotus Season Three has many notable and fun collabs. Meanwhile, iconic British brand Kurt Geiger is now owned by Steve Madden.
- Chaos around de minimis is causing a lot of headache for Shein ahead of its IPO. According to a report in Reuters, Shein was prepared to slash its valuation to $50 billion — exactly half of its $100 billion valuation in 2022 as the removal of de minimus in the US and Mexico restricting duty-free apparel imports since January could lead the company to raise prices. (Modern Retail)
- Kendrick Lamar’s jeans at the Super Bowl half time show set off headlines. He wore flared, wide-leg jeans by Celine, a style that was completely sold out on Celine’s online store by Wednesday. Return of the baggy wide-leg jeans is also a boon to the brand JNCO started in 1985, and known for the extreme bagginess of its jeans. (Glossy)?
- And in contradictory news, skinny jeans are cropping up on runways and Google search trends, and analysts expect they could be back at mass retailers by the end of the year. If skinny jeans do make an official comeback, it’s good news for apparel and footwear retailers, because it’s likely to trigger a whole closet refresh. (CNBC)?
- Dick’s Sporting Goods is expanding its previously internal influencer program to include members of the public. Chosen participants will receive a monthly gift card to purchase items from Dick’s to showcase on their social channels. Members may also be featured on the retailer’s social media channels, website, brand videos, photoshoots, and in-store signage. (Retail Dive)
- As HBO’s “The White Lotus” returns for its third season, set in Thailand, fashion brands and retailers are creating exclusive products inspired by the series. Brands like Banana Republic, Bloomingdale’s, Abercrombie & Fitch, H&M, Nest New York, Kiehl's, Away Luggage, and more have unveiled collections that capture the essence of the show’s luxurious locales. (WWD)?
- Olipop (Foremost 50 2024) raised $50 million in a Series C funding round at a $1.85 billion valuation.
- Kurt Geiger was acquired by Steve Madden from Cinven Group.
- Wander Beauty (beauty brand) was acquired by NamelessCPG.
- MCoBeauty (beauty brand) was acquired by DBG Group.
- Palm Angels (luxury streetwear brand backed by New Guards Group) was acquired by Bluestar Alliance LLC.
- Wild (British personal care company) was acquired by Unilever.
- Archive (resale platform) raised a $30M Series B from Energize Capital, among others.
- Greyson Clothiers (golf apparel) raised a $20M Series A from NewBound Venture Capital and Justin Timberlake, among others.
- Everest (haircare brand) raised capital from Sandbridge Capital.
- Pickleheads (pickleball) raised a $2.5M seed round from Overline, among others.
- The IP and wholesale operations of Party City were sold to Ad Populum for $20M.
- Retail sales slumped 0.9% in January, down much more than expected and inflation grew by 3%.
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