Retail Diary - Week of January 2nd, 2023

This Week's Topics:  

• Layoffs and Change

• CFDA new Board begins

• New collabs & store openings

• Rounding out 2022

• What else I ❤️️ 

Layoffs & Change

• If the last 2 days are any indication, 2023 is going to be another shaky year for the economy. Worth noting in the retail world:

  • Stitch Fix - CEO Elizabeth Spaulding is stepping down, Co-Founder and ex CEO Katrina Lake is stepping back in (currently on the board) as interim CEO and they are laying off about 20% of the employees.

  • Amazon's layoffs to impact 18K workers, roughly 5% of the total full-time employees and will impact some of the retail team. 

• And a good read, Vox has a round-up of what you should do after a layoff.

• My favorite work related podcast as of late is Work Appropriate with Anne Helen Petersen for a fresh take on workplace trends and opportunities.

CFDA New Board Begins

• Thom Browne is now the Chairman of the CFDA. Worth noting, his partner is Andrew Bolton, the curator in charge at the Metropolitan Museum Costume Institute. 

• Prabal Gurung and Aurora James are vice chairs (James is the founder of the 15% Pledge. I love her work, voice and organization on this. Glad to see CFDA recognizing her work and leadership.)

• Maria Cornejo is the secretary and Stacey Bendet Eisner (Alice & Olivia) is treasurer. 

New Collabs & Store Openings

• Collabed

  • Gabriela Hearst x Moda Operandi for a sustainable capsule collection

  • Really into this APC x Asics

  • Vans x Timberland (Vans going big with hiking style via this sponsored post with WhoWhatWear.)

  • Sweater brand Misha and Puff x West Elm kids.

  • Sterling Silver Fendi Baguette c/o Tiffany x Fendi

• Store Openings

  • The brand Espirit coming back with Flagship stores. The bright, streetwear style and joyful branding feels like it is the right vibe for a comeback in 2023.

  • Bloomingdale's opening another Bloomies (aka small store format) in Seattle aka Nordstrom territory. 

Rounding out 2022

• If you were enjoying your holidays and the wrap up of 2022, here are a few things you might have missed. Consider this your TL:DR (too long, didn't read) and now you are caught up:

  • Vivienne Westwood, pioneer of punk, has passed away. Here is her NYTimes Obituary

  • Business Insider (gossip hyped up) article about Something Navy/Arielle Charnas. There were so many rumors about the brand and the founder (Arielle Charnas) and her husband (Brandon Charnas from Current Real estate) and the article in the end was pretty much status quo for a lot of fashion brands. Struggling brand not hitting financials (and not able to pay factories) but the founder is showcasing lavish vacations and expensive clothing and accessories that aren't her own brand on social media.

  • November retail sales were down vs a more robust October.

  • Modern Retail recaps holiday sales numbers and how to look at the numbers with inflation in mind and how consumers reacted post 2020 holiday lockdowns charting the years since.

  • As of January 1, 2023, fur (sales at least) are officially banned in California

  • The Cut had us all talking about nepo babies. What is a nepo baby, a child of celebrities or industry insiders that likely had help in getting their own career launch. See image below - @irisvanmuse tweet of fashion nepo baby of Stella McCartney's Central St, Martin's fashion show with Naomi Campbell as a model. 

December 2022 had us talking about Nepo Babies. Here is a comment on a nepo baby from the fashion world via twitter @irisvanmuse

What else I ❤️️ 

• The trend to recap 2022 and 2023 resolutions wasn't goals, vision boards etc. It was In vs Out. 

• This one in particular (from People Style Editor) made me laugh.

• Six reasons from the NYTimes to get excited about Fashion in 2023. I'll also add the latest installment of the Met Costume Institute exhibit - Karl Lagerfeld.

• Saw these Hermés laces and OMG. So cool and sleek with a pair of white leather sneakers. Might be my next DIY project. 

• Celine's Winter 2023 collection was shown in Los Angeles and the vibe is fantastic. Love these pieces - especially the jackets.

What's Next?

Now that retail's Q4 is wrapping up (many retailers end their fiscal year at the end of January) we will see the impact of holiday returns, inventory shortage and other uncertainty (layoffs) on the 2023 outlook. We also have many new creative directions coming for us in 2023 (a new Gucci) so let's see what's next. I'll be here to recap it all. Happy New Year and thanks for your support.

Thanks for reading Edition 125.
Sarah Shapiro