igniteXL Ventures’ Post

𝐌&𝐒 𝐔𝐊 𝐎𝐯𝐞𝐫𝐡𝐚𝐮𝐥𝐬 𝐌𝐞𝐧’𝐬 𝐅𝐨𝐫𝐦𝐚𝐥𝐰𝐞𝐚𝐫: 𝐀 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐢𝐧𝐯𝐞𝐧𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐆𝐫𝐨𝐰𝐭𝐡 M&S is undergoing a transformation in its men’s formalwear offerings for spring/summer 2024 as it aims to expand its market share within the category. The renowned fashion and food retailer, currently holding 18% of the £932m formalwear market, is rolling out a selection of trend-inspired pieces to appeal to a wider range of shoppers and enhance its style profile. As part of this initiative, M&S has streamlined its range by reducing the number of options available. Core selections, such as plain, navy, black, and grey, now constitute 50% of the range, down from 75% previously. By concentrating its range, M&S aims to amplify its “style, quality, and value credentials” and capitalize on its top-performing lines through larger purchases. The introduction of a clearer and simpler pricing structure, including a new £85 opening price point, is expected to enhance the shopping experience for customers. Richard Price, M&S Managing Director for Clothing, Home, and Beauty, emphasized the importance of exceptional products in driving the retailer’s ambition to become the UK’s most trusted retailer. He stated, keep reading: https://lnkd.in/d3RTskNc Richard Price Marks and Spencer #Retail #trade #growth #brand #uk

Wearing a secondhand outfit these days is something to brag about, not whisper! 👏🏻 ♻️From a sustainable point of view, buying second-hand and reducing consumption are certainly the two simplest and quickest ways to limit the negative impact of the fashion industry. ❌From a commercial point of view, the second-hand boom is already present and will further disrupt traditional commerce in the years to come. The second-hand market touches almost all sectors/price segments of the fashion industry, from fast fashion to sports brands, mid market, premium and luxury, etc. ❓So what strategy to adopt for retailers and brands, let specialized BtoC and CtoC platforms take the lion's share or try to implement second hand in their own business model and maintain visibility and a certain control…. ❓how to adjust your assortment, your prices, your volume… Something to watch closely for sure in the near future 😉 #secondhand #fashion #circularmodel #brandstrategy

📣 Uniqlo is a Japanese casual wear designer, manufacturer, and retailer, which has grown to become a significant player in the global fashion industry. It is a subsidiary of Fast Retailing Co., Ltd., which is one of the largest apparel retail companies in the world. Here’s a closer look at Uniqlo’s background, business model, and key aspects: 🔔 History Uniqlo was founded in 1949 in Ube, Yamaguchi Prefecture, Japan, by Tadashi Yanai. Originally, it was a men's clothing store called "Ogori Shoji," and it wasn’t until 1984 that the first Uniqlo store was opened under the name "Unique Clothing Warehouse," which later evolved into the simpler "Uniqlo." The brand gained popularity in Japan throughout the 1980s and 1990s due to its simple and affordable clothing. 🔔 Global Expansion Uniqlo began its international expansion in 2001 with the opening of its first overseas store in London, England. Since then, it has expanded aggressively and operates in numerous countries across the world including the United States, China, Australia, and various European nations. Its global strategy focuses on large flagship stores in major cities to build brand presence. 📻 Products Uniqlo is known for its wide range of simple, functional, and high-quality clothing that comes at relatively low prices. Their products include everything from t-shirts and jeans to technically sophisticated garments like their HEATTECH line, which is designed to generate and retain heat. Another notable product line is AIRism, which features breathable, cooling fabrics. Uniqlo’s design philosophy emphasizes simplicity and longevity, rather than chasing fast fashion trends. 💽 Business Model Uniqlo's business model is highly centralized, allowing for tight control over every aspect of its operations, from production to sales. This vertical integration helps Uniqlo minimize costs while maximizing quality and efficiency. Unlike traditional fashion retailers that cycle through trends, Uniqlo focuses on constant improvement of their basic offerings, a concept they refer to as “LifeWear.” 📷 Marketing and Collaborations Uniqlo has collaborated with various designers and brands to enhance its brand image and appeal, including Jil Sander, Alexander Wang, and Christophe Lemaire. It also engages in high-profile marketing campaigns and has used technology effectively in its stores and online platforms to enhance customer experience. 📺 Challenges and Future Outlook Uniqlo faces challenges like any global brand, including market saturation, local competition, and fluctuating economic conditions. Additionally, as a global retailer, it faces the challenge of adapting to different cultural tastes and consumer behaviors. Despite these challenges, Uniqlo continues to seek growth by exploring new markets and adapting to the changing dynamics of the global retail environment, including a focus on sustainability and ethical production practices.

The market for secondhand clothing is thriving, with global market share rising to 10% this year #clothing #sustainablefashion #retail #thrifting 👉 Secondhand clothing sales will make up a tenth of the global fashion market next year. 👉 Global sales of pre-owned clothes surged 18% last year to $197bn and are forecast to reach $350bn in 2028. 👉 The US secondhand market grew seven times faster than overall fashion retail, where sales were flat in 2023 from a year earlier. 👉 Interest in secondhand items is starting to span generations, not just limited to younger shoppers. 👉 Specialist online fashion sellers have struggled to make money despite significant sales growth.

The market for secondhand clothing is thriving, with global market share rising to 10% this year #clothing #sustainablefashion #retail #thrifting 👉 Secondhand clothing sales will make up a tenth of the global fashion market next year. 👉 Global sales of pre-owned clothes surged 18% last year to $197bn and are forecast to reach $350bn in 2028. 👉 The US secondhand market grew seven times faster than overall fashion retail, where sales were flat in 2023 from a year earlier. 👉 Interest in secondhand items is starting to span generations, not just limited to younger shoppers. 👉 Specialist online fashion sellers have struggled to make money despite significant sales growth.

#Comfort and #fit why it's #important for #fashion retail Apparels brand, how it will be #impacting the #brand #reputation and #sales #growth in the fashion retail Apparels industry Comfort and fit are pivotal for fashion retail apparel brands, profoundly influencing both brand reputation and sales growth in the industry. Firstly, comfort and fit are paramount for customer satisfaction. Modern consumers demand apparel that is not just aesthetically pleasing but also comfortable to wear. A garment that lacks comfort or has an improper fit can lead to dissatisfaction, negative reviews, and a tarnished brand image. Conversely, brands that consistently deliver comfortable and well-fitted clothing earn a reputation for quality and customer-centricity, enhancing brand loyalty and positive word-of-mouth. Secondly, the impact of comfort and fit on sales growth is significant. A positive customer experience, driven by comfortable and well-fitted clothing, fosters repeat purchases and encourages customers to recommend the brand to others. Satisfied customers are more likely to become loyal patrons, leading to increased sales and revenue. Furthermore, in the digital era, online reviews and social media greatly influenced consumer perceptions and buying decisions. Brands that prioritize comfort and fit tend to receive favorable reviews and endorsements, strengthening their online reputation and attracting new customers. In conclusion, comfort and fit are essential for fashion retail apparel brands as they are key determinants of brand reputation and sales growth. Brands that focus on providing comfortable and well-fitted apparel not only enhance customer satisfaction but also build brand loyalty, attract new customers, and ultimately achieve sustained growth in the competitive fashion retail apparel industry.

Can Walmart Become a Fashion Destination? Walmart is launching its first-ever Walmart Style Tour this fall, a 40-stop traveling fashion event aimed at bringing affordable, on-trend fashion directly to customers. How might Walmart’s efforts to rebrand and elevate its fashion offerings affect consumer perceptions of big-box retailers as credible fashion destinations? Read the article & panel discussion here: https://lnkd.in/eza2_VwM Kenneth Leung "Walmart is already in the fashion business for apparel. It is not high fashion but modern consumers have been mixing and matching items from various vendors for a long time." Frank Margolis "While Bonobos (too niche, too expensive )was a terrible choice for Walmart to establish itself as a fashion-leader, there is no reason that a proper assortment of basics (beyond JUST – jeans, underwear, socks, and t-shirts) is easily within reach. Shelley E. Kohan "Two words. Denise Incandela. No doubt Walmart will become the number one fashion destination in America."

SNITCH, a Bengaluru-based D2C fashion brand, aims to position itself as India’s Zara, according to founder and CEO Siddharth DUNGARWAL. With a rapid offline expansion, the brand has already opened over seven stores and is on track to reach its goal of 30 stores by the end of the fiscal year. Their 10,000 sq. ft. store in HSR Layout, Bengaluru, is a key milestone in this journey. Growth and Vision Under the tagline “Made in India for the World,” Snitch grew by over 150% in FY 2023-2024. The brand’s primary focus is on delivering fast, quality fashion that resonates with Gen Z and millennials who don’t connect with traditional Indian brands like Allen Solly and Louis Philippe. Snitch fills a gap in the market by providing trendy fashion at affordable prices, competing with international brands like Zara and H&M. Customer-Centric Approach From day one, Snitch has focused on providing a seamless customer experience, especially with hassle-free returns and refunds. Dungarwal emphasizes that 70% of their business is driven by the overall experience, while 30% is product quality. Their fast-paced supply chain enables them to launch new products within 25 days, keeping the brand fresh and relevant. Future Plans While Snitch is currently focused on menswear, the brand has no immediate plans to pivot to women's fashion. Their continued growth in the men’s category remains a priority for the next 18-24 months, alongside expanding their offline presence.

New clothing retailers, watch out. Secondhand clothes are losing their stigma. The growth of fashion resale is quickly outstripping sales growth for new clothes. H&M recently launched H&M Re:Wear, an online secondhand clothes platform. ZARA SA has a similar platform in Europe that continues to expand. Even the luxury brand HUGO BOSS is launching a luxury resale platform called HUGO BOSS Pre-Loved. What's driving this trend? The economy, for starters. Microtrends on TikTok. Celebs shopping their own wardrobes (or archives, as they call them) for items that are no longer available for sale. Showcasing personal style isn't about conforming to what's currently on shelf, but curating a unique sartorial perspective. Great article via Fashionista with a trend report by ThredUp 👇 #resale #shoppermarketing #commerce #retailnews #ThredUp #Fashionista #fashionmarketing #fashionretail #retail #shopping #shoppers #agency #trendreports #secondhand

I am the founder of Clobber Swap, a preloved sustainable swap, buy and sell fashion platform on Facebook. We launched in 2020, just before the Covid pandemic hit, and little did we know that it would turn out to be perfect timing. Our platform has provided a space for members to not only engage in fashion transactions but also to develop special and lasting friendships during troubled times. Our community is vibrant and diverse, with women of all ages and sizes across the UK actively participating in swapping and selling their wardrobes on a daily basis. It's a beautiful community where we get to know each other well and even learn each other's style preferences. To ensure the reliability and trustworthiness of our members, we charge a small monthly fee to be part of our group, which has proven to be effective. With over 100 five-star reviews, our business is steadily growing. We have an impressive 4000 items posted each month, with 13,000 member comments and reactions. Our platform is known for its fast and friendly service, but more importantly, it plays a crucial role in reducing fashion waste. By facilitating the circulation of fashion items for longer, we contribute to the reduction of fashion waste that would otherwise end up in landfills. I believe that we are only scratching the surface of what Clobber Swap can achieve. Reading this article has fuelled my determination to further promote the value of wearing preloved items. I am committed to making a positive impact in the fashion industry and inspiring others to do the same. If you are interested in joining our community, please visit our website at www.clobberswap.co.uk for more information. Additionally, we have a podcast series called Clobber Swap, available on Spotify and Apple. Through our podcast, we delve deeper into the world of preloved fashion, sharing insights and engaging discussions. Join us in embracing the #preloved movement and together, let's reduce fashion waste while looking fabulous. #secondhandclothes #podcast