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Clicks Fast Overtaking Bricks in Fashion, Luxury Arena Says McKinsey – WWD

LONDON — The online juggernaut will gain steam in 2021, and beyond, with accelerating sales, a “war” for digital talent, and pressure on fashion and luxury brands to rethink the role of their physical stores, according to new research from McKinsey & Co.

The online channel has notched seven years of growth in nine months due to a spike in luxury consumers shopping from home, and in their home markets, according to Anita Balchandani, a McKinsey partner who heads the consultancy’s apparel, fashion and luxury business in the U.K. and EMEA.

Balchandani presented the findings of the report, “Taking stock of the apparel, fashion and luxury sector,” during a virtual roundtable discussion on Wednesday, and covered a variety of consumer trends in fashion and luxury worldwide.

In addition to the growing power of online, Balchandani pointed to a strong rebound in China next year, compared with the U.K., Europe and the U.S., and surveyed the damage that the COVID-19 pandemic has wrought during what has been a “remarkable year” for the industry.

Recovery, she said, will be driven by an accelerated demand for online fashion.

She noted that online fashion sales channels exploded in popularity this year, stealing market share

Robert Baker, Developer, Philanthropist – WWD

Baker founded and was chairman and chief executive officer of the National Realty Development Corp., one of the nation’s largest privately owned real estate development companies, controlling 22 million square feet of retail space in 76 shopping centers across 16 states.

The NRDC portfolio is comprised of 75 projects covering 22 million square feet including retail power centers, community shopping centers, corporate/industrial business parks and luxury residential. The 50-year-old NRDC is headquartered in Purchase, N.Y.

In addition to being on the board of HBC, which owns Saks Fifth Avenue, Saks Off 5th and Hudson’s Bay in Canada, Baker served on the boards of City & Suburban Savings Bank and the Retail Opportunity Investments Corp. In 1976, he was the executive director of Gerald Ford’s presidential election campaign for New York State.

Baker also served as trustee and treasurer of the Guggenheim Museum and a member of the museum’s executive committee, and a director of Johns Hopkins Medicine.

Together with his wife of 30 years, Christina, Baker gave generously to numerous educational, medical, cultural and Jewish causes. These included charities in New York; Greenwich, Conn., and Palm Beach, Fla., where the couple resided.

Baker was a graduate of Yale University, where

‘Selena’ Actress Christian Serratos Wears Tom Ford to the AMAs – WWD

Actor Christian Serratos is best known so far for her role in “The Walking Dead,” but she’s about to become a lot more recognizable to the masses when she takes on the role of Selena in Netflix’s upcoming “Selena: The Series,” which premieres on Netflix Dec. 4.

Prior to the show’s debut, she attended the American Music Awards Sunday night, wearing a Tom Ford gown and Forevermark jewels selected for her by her “image architect” Law Roach.

“The dress is my favorite dress from that collection,” Roach, who has worked with Serratos since 2019, said over the phone. “As a stylist when you fall in love with something, you hope that the right girl and the right event comes along so that you can get the dress and style it. And she was the right girl. She’s stunning and I think Tom Ford noticed how stunning she was. It just felt right; she feels like the Tom Ford aesthetic. It was a really good collaboration.”

Christian Serratos in Tom Ford. 

Roach, who has been back at work in the COVID-19 era since styling Zendaya for her InStyle September issue cover, worked with Serratos in the studio at his home for

10 Major Beauty M&A Deals of 2020 – WWD

Beauty M&A activity may have slowed down slightly in 2020, but there were still many major deals to be had. The year was ripe with public offering activity from the parent company of Perfect Diary, The Hut Group and VC-backed Hims, but also saw a billion-dollar makeup acquisition with the Puig-Charlotte Tilbury deal, as well as other meaningful transactions. Here are some of the most major beauty M&A deals of 2020.

KKR Buys Majority of Coty Professional

Coty Inc. inked a deal with major private equity firm KKR to sell a majority stake in its professional division, which includes Wella, OPI and Clairol. After some speculation that the deal had hit the rocks due to the coronavirus, Coty and KKR signed a joint venture agreement that gives KKR control of the division with 60 percent ownership. The move is meant to simplify the business, and allow for Coty leadership to fix the ailing consumer division (home of Covergirl) and accelerate the luxury segment, especially via skin care. In November, Coty said that it expected the deal to close before the end of the calendar year, and that its remaining 40 percent stake in the operation is valued at around $1.3

Twin Storms Seen Denting Central America’s Apparel Exports – WWD

MEXICO CITY — Tropical storms Iota and Eta could cost Central America up to $200 million in garment exports and see shipments delayed by one to two months as clothing factories are forced to idle production, industry observers told WWD.

They added the region, which sent nearly $7 billion of apparel to the U.S. last year, will need billions to rebuild and finance new infrastructure projects to make it more resilient to adverse weather events stemming from global warming.

“It’s a tragedy,” sighed Mario Canahuati, president of the Honduran Manufacturers’ Association (AHM) and member of the Canahuati texiles family conglomerate in the nation, whose maquila sector saw the most damage from nearly two weeks of storms as Eta hit Nov. 3, followed by Iota on Nov. 16. Both were Category 4 storms. Eta affected 3.6 million people across the isthmus, pummeling Nicaragua, Honduras and Guatemala with catastrophic winds, rain and flooding. Meanwhile, Iota is said to have displaced 400,000 people in Nicaragua, though its apparel supply chain was understood to have been left largely unscathed by the storm.

Canahuati declined to estimate how the storms damaged Honduras’ textiles pole, a major supplier of basic T-shirts and underwear to the U.S.,

The Best Beauty Deals for Black Friday and Cyber Monday 2020 – WWD

All products and services featured are independently chosen by editors. However, WWD may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.

Thanksgiving weekend is going to look different this year, just like so many other things have during 2020. Instead of pulling out extra dining room chairs, you might be watching the turkey carving over Zoom. Though many in-person celebrations will change, the tradition of Black Friday sales continues. Sure, you may not be spritzing new perfumes or testing new lipsticks in person at Sephora or department stores, but the amazing deals and steals aren’t going anywhere — they’ll just be online. You can still score some of the best beauty deals of the year on Black Friday and Cyber Monday, with off the charts steals. Need an example? Olay partnered with Orolay, the brand of the Amazon coat that went viral last year, to come up with a limited-edition version inspired by Olay’s iconic red jar that’s free with any purchase over $150. And that’s just the beginning. We rounded up