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News and financial updates

1. Shein Shein turned fast fashion into ultra fast fashion. The Chinese fashion giant brings together Asian sweatshops with Gen Z consumers - and in doing so has overtaken them all. .It's amazing that a company like Shein, which represents all the bad things that globalization has to offer, can make such a meteoric rise these days.In just a few The Chinese ultra-fast fashion producer has been at the forefront of e-commerce and pop-up stores are now set to expand the online shopping experience in major European cities. Shein was founded in 2008 by Chinese marketing expert David Xi, then still under the name Sheinside With a new, more accessible name Shein has transformed itself from an almost unknown entity by offering very low prices and extreme choice the company has developed into the world's largest provider of fast fashion. The company now ships its clothing, make-up and accessories to more than 150 countries – including Germany, Austria and Switzerland. The company is said to be hardly known in China itself. Shein has grown through cooperation with influencers and through an algorithm with which the Chinese group evaluates the latest trends through the click behavior of its customers in the social networks and implements them almost in real time at ridiculous prices and brings them to its website. The Shein content, in which, for example, the hashtags #ZaravsShein or #Zaradupes compare Shein dresses with almost identical Zara dresses – 15 US dollars versus 79 dollars – is particularly popular on Tiktok. In addition to its social media activities, Shein brings now also billboard advertising (“out-of-home”) and pop-up stores in major European cities. Despite the fast-fashion giant's plans to go public, the company faces environmental, social and governance (ESG) concerns that could hamper the plan. Shein is planning to launch its initial public offering in the US as soon as 2024, according to a report by Bloomberg. Swiss watchdog Public Eye claimed some of Shein's manufacturers have been subjecting employees to dangerous conditions and 75-hour workweeks. 2. Fast Retailing ( Uniqlo ) The Japanese group Fast Retailing, which owns Uniqlo, has reported its results for the third quarter this week. Sales rose in the third quarter by 10.3%, profit grew a whopping 36.5% yoy. Strongest regions: Southeast Asia, Europe, N. America, Japan. For the period 1st to 3rd quarter, growth of almost 4% iis reported. Greater China region revenue and profit down on impact of COVID-19 restrictions on movement. The profit also grew above average for the 1st 3 quarters namely to 15% of the turnover. That is a very good result for a group that does not come from the luxury sector and does not operate any significant wholesale trade. Inditex and H&M can't reach this percentage. Very positive prospects for the second half of the year after the first half didn't go well. Sales up, profit up. So the right conclusions and decisions were made in Japan during the pandemic. Collection improved, digitization pushed forward in the Stores, costs saved. The store network has been optimized. 242 closed, 204 newly opened. At the end of August, the company operates 3,565 stores worldwide. The dividend for shareholders will be increased significantly. 3. H&M The Swedish fashion chain H&M is completely withdrawing from the Russian market. The continuation of the business in Russia, which started in 2009, is "impossible given the current situation," said company boss Helena Helmersson. H&M had already closed its stores in Russia in March as a result of the Russian attack on Ukraine. They are now to be reopened for a limited period in order to sell the last stocks. In the statement, company boss Helmersson was "deeply saddened by the consequences that this step will have for colleagues". H&M put the cost of the withdrawal from Russia at around around 190 million euros. This amount should appear as a one-time cost in the balance sheet for the third quarter. 4. Kaufland Kaufland has opened one of the most modern and sustainable green houses in Germany, Chiemgau. The supermarket chain therewith focuses even more on an overall vegetable and fruit production from Germany all year around. Tomatos, Pepper and Strawberries will be delivered from this new green house towards Kaufland affiliates. The needed energy for this plant shall soon be 100% renewable. 5. Burberry Burberry is the lastest luxury brand closing a store on the famous shopping street Canton Road after already having closed their store of Russell Street in 2021. Other luxury brands also recently closed stores in the previous shopping destination, namely Valentino, Tiffany and Coach. Burberry nevethless did not fully retrieve from the Asian Market and stil focuses on keeping their brand awarness up. So we saw an incredible summer pop up event happening with the take over of the Anantz Cove Bay Resort in Busan, South Korea. The pool of the resort as well as the outside area were totally decorated to celebrate the new TB Summer Monogram Collection. One could find branded sunshades, cushions, or sundbeds for example.

New Openings

6. Veja The sneaker label Veja opens its first store in Germany on 07 July 2022 in Berlin-Mitte, Alte Schönhauser Straße In addition to the lifestyle and running collection for men, women and children, a cobbler in the store offers the repair and cleaning of sneakers and shoes. After stores in Paris ( 2019) and NYC (2020), it was now Berlin's turn. They always start their projects in the places they love the most. This city reminds them of São Paulo. For the VEJA store in Berlin, we chose to collaborate with Berlin architects Concrete, Oak, Steel and Earth. The inspiration is the minimalist design of Berlin. 7. Arigato xel Arigato vinyls were spotted in Berlin Mitte and we expect to read about a new german store opening of the swedish brand after their opening in Munich in 2021 already. 8. Shopping Center Gran Reno The expansion and refurbishment of Gran Reno, a Klepierre shopping center near Bologna, Italy, has just been completed. Placed right next to public transportation and near the city center of Bologna, the center has added 16,000 square meters, 9 restaurants and many cafes as well as a breathtaking rooftop, the Terrazza Bologna. Its retail offer now covers 150 stores. The construction works lasted more than two years, and attracted numerous retailers (Primark, Nike, Zara, H&M, Snipes) who decided to set up shop there. 9. Adler To make customers feel even more at home while shopping in their fashion store, ADLER cafés with hot drinks and juices as well as reading lounges and entertainment screens opened in the first stores, offering a shopping experience for all the senses. Now ADLER is also getting even sportier: the outdoor expert McTREK Outdoor Sports has opened innovative shop-in-shop sales areas in the first ADLER stores, adding further high-quality and well-known brands to the range. The corresponding stores offer McTREK's most popular products, with a focus on leisure wear. As part of its new external brand strategy, Adler also recently brought the Swabian textile manufacturer Trigema into its own stores and launched a partnership with Ferrero. 10. Arc'teryx The canadian outdoor apparel brand Arc'teryx is further expanding with two stores in Canada (CF Market mall and Torontoa Easton Centre). In Canada the brand currently operates 13 stores and 2 outlets but sees potential for a total of 30-35. In the USA the brand is presenz with 24 stores and operates 160 stores globally incl. Europe, Asia Pacific and China. Arc’teryx has moved to source 100 per cent renewable electricity for the operation of all stores worldwide. The brand remains focused on expanding to new markets in 2022, with 20 stores planned for Europe and North America. 11.Louis Vuitton Following the global opening of the traveling exhibition of the 160-year history of the Maison in Wuhan in 2020 and further stops in Hangzhou and Dubai, SEE LV will now be presented in Tokyo Midtown Grass Square. Combining history and tradition with modernity and progress, Tokyo is the natural next destination for SEE LV's journey in 2022. SEE LV allows visitors to dive deep into the world of Louis Vuitton through immersive and interactive digital experiences. Excitingly, upon entering the exhibition, visitors are greeted by a portrait of the young Louis Vuitton created by artist Refik Anadol using artificial intelligence. An entire room is dedicated to Louis Vuitton's important contributions to the invention of luggage types, from the iconic Wardrobe to the skateboard suitcase, showing how each was a cornerstone in the development of new lifestyles and travel habits. Open from July 8 to August 21, 2022, Monday through Sunday 11 a.m. to 8 p.m. Free admission Prior reservation required via the LINE app.

News from the Metaverse

12. Burberry x Roblox Gucci, Givenchy, Ralph Lauren, Thommy Hilfiger & Nike are competing for the nearly 54 million daily users on the gaming portal ( as of Q1/ 22) Now Burberry is also part of it with a new collection. The five virtual bags were developed in collaboration with renowned Roblox designer Builder Boy. They reflect Burberry's passion for innovation and connection with the community. In a unique partnership between Burberry and Roblox, characterized by creativity and self-expression, our classic bag "Lola" is conquering the world of computer games. Five virtual designs and emotes were available for 24 hours each from July 11-15.

Retail Gossip

13. Kanye The successful musician is being sued for over $400,000 by fashion rental company David Casavant Archive. According to the lawsuit obtained by TMZ, Kanye has already stopped paying rental fees for 13 "rare pieces" in 2020. Superstars like to borrow designer pieces as ex-wife Kim Kardashian, Lady Gaga, Tom Brady, Pharrell, and 21 Savage also borrow clothes from there. Kanye is reportedly holding on to designer items from Helmut Lang, Raf Simons, and Ann Demeulemeester and no longer paying for them. Among them hoodies, capes, cargo pants and a 50,000-dollar parka.The fortune of the "Yeezy" founder is estimated at about two billion euros, it can not really be the money. Perhaps "Ye", as he now calls himself, has simply forgotten about it. 14. Farmers against Volkswagen We stand by our farmers and that's why we buy no more VW", says the website "VW-Panne.de", which is operated by the association "Freie Bauern". Hundreds of farmers have already signed the call for a boycott. The stumbling block has been the meat-free company canteen since August last year and a milk campaign in the stadium of VW-financed VfL Wolfsburg in April - for a time there was oat milk in addition to normal milk Exhaust fraudster Volkswagen Greenwashing at the expense of the many honest farming families who keep farm animals and our population in crisis with high-quality food els," says Cord Meyer from the "Free Farmers" in Lower Saxony. 15.Delfina Delettrez Some memories of the summer you would like to hold on to forever. For example, how delicious the ice cream flavored with goat cheese and pumpkin seeds tasted back then at Lake Ammer. Or how a family of five shelled out almost a hundred euros for a round of ice cream at the port of St. Tropez Only the Cono 925, a 925 sterling silver sundae that's part of Delfina Delettrez's (born Fendi) new Objet d'Art collection, will last. The silver waffle can be engraved and is antibacterial. It also only costs €650