👑 The biggest luxury fashion business you've never heard of...
AND: Reebok and Transparent Speakers
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brand of the week
what’s in my closet
not so, FARFETCH?
what’s on the radio
what’s on the coffee table
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brand of the week: Chinatown Market
The now-cult LA-based streetwear brand and bootleg label Chinatown Market is the brainchild of Mike Cherman, which since launching in 2016 is turning fast fashion literally on its head and spawning a devout following in the process. Tapping into the rebellious spirit of New York’s Canal Street – a place where Cherman spent many afternoons with his dad as a kid – think of it as taking the most in-demand references and viral moments in popular culture and mashing them together.
what’s in my closet: Reebok Classics
Always fresh. The Classic Nylon debuted in 1984 and this version stays true to the original. These men's shoes have a suede and nylon upper for a minimalist look. Simple colors on the upper add to its confident, clean design.
not so FARFETCH?
Is FARFETCH a good business? Yes. And in a COVID world, absolutely.
In 2019, e-commerce only accounted for 12% of luxury sales. And you know for a fact that number has skyrocketed going into 2021.
The stock posted great numbers in Q4 2020… outperforming with stronger than expected earnings. And with an announcement to partner with Alibaba Group to launch FARFETCH China, the path to profitability is imminent.
What’s exciting about this partnership is how engrained FARFETCH will be in Alibaba’s system, while still controlling 75% of the joint venture. This gives them leveraged to focus on quality control and also gives them access to Alibaba’s 750 million person shopping network. For context, FARFETCH had only 3 million in all of 2020. So yeah, I’d say they’re headed in the right direction.
The partnership plans to officially launch mid to late 2021. I’ve got my eyes peeled.
what’s on the radio: Soirée Radio
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what’s on the coffee table: Transparent Speaker
The Small Transparent Speaker heralds a new era of home sound systems. With a design stripped to its bare essentials, this speaker features one single aluminum "uniframe" with tempered glass panels. Add a Bluetooth-enabled feat of audio technology to your home that will also amplify the look and feel of your living space.
Making Monsters With Rick Owens [REVIEW]
His work has always cast a dark shadow, as a kind of elemental counterpoint to the rest of fashion.
Boohoo in Talks to Buy Remaining Arcadia Brands [NEWS]
British online fashion retailer Boohoo has entered exclusive talks with the administrators of Philip Green’s collapsed Arcadia group over the purchase of the Dorothy Perkins, Wallis, and Burton brands, threatening thousands more high street jobs.
See you next Tuesday,
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