The company has announced the closure of up to 40 stores across all its brands this year. Correction: An earlier version of this story mistakenly implied which brands could see store closures this year, up to 40 stores will close across all the company's brands.
Additionally, language has been updated to clarify references to the parent company versus its namesake brand. Follow Daphne Howland on Twitter. After a rapid leadership shakeup, and amid significant debt, a ransomware attack and the pandemic followed, leading Alex and Ani to file bankruptcy. Things are much better in the industry than in recent years.
Retail will always be a tough business, though. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Search x. An article from. Dive Brief. Published July 22, Daphne Howland Senior Reporter. Filed Under: Marketing, Financial News.
The running list of retail bankruptcies After a rapid leadership shakeup, and amid significant debt, a ransomware attack and the pandemic followed, leading Alex and Ani to file bankruptcy. Flickr user Xurble. Owned by L Brands, Victoria's Secret is still a dominant player in the space. But new rivals promoting exclusivity through their extended size offerings are emerging.
Online bra maker ThirdLove last week announced it will be opening its first bricks-and-mortar store, a pop-up shop in New York's SoHo. Underwear and swimwear brand Lively also has a store there. Adore Me plans to open hundreds of stores over the next few years. And Target earlier this year launched three new lingerie and sleepwear lines in house, while Walmart acquired online bra marketplace Bare Necessities last fall.
These brands, including Gilly Hicks, still have their work cut out for them. Skip Navigation. Key Points. Hollister is opening new pop-up shops for its Gilly Hicks lingerie brand. It also plans to open additional freestanding stores. The moves come as the lingerie category is going through a major overhaul, with new entrants like ThirdLove gaining momentum as Victoria's Secret flounders.
The Gilly Hicks brand, which launched in , was once a bigger name on the teen fashion scene. VIDEO Now it's staging a comeback in malls across the country. How Victoria's Secret revolutionized lingerie — then fell behind. As big retailers attempt to change course with the shifting tides, expect to see more examples like this Gilly Hicks reboot. It will, however, have to compete with an ever-crowding playing field — especially in the retail space.
Bonafide digitally native brands like ThirdLove, for example, are forgoing the online-only sales model and opening up their brick-and-mortar locations. This, explained Gonzalez, is in line with current brick and mortar trends. Once seen as a means to grow fast food chains, franchising is becoming a viable way for startup brands to quickly scale. This is especially true for service-focused companies, such as young fitness studios, salons and bakeries, which are taking up franchising to grow their presence.
During the Modern Retail Summit held last month in Palm Springs, Modern Retail held an intimate working group with top retailers and brands. There, 13 decision-makers sat down and discussed some of the biggest issues hampering their businesses. The buy now, pay later space continues to evolve -- with physical retail being the latest race among players like Klarna, Afterpay and Affirm.
The latest partnership, between Klarna and mall operator Macerich, shows that shopping centers are looking for more ways to court young shoppers. Subscribe Login.
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