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Why Clare Waight Keller Left Givenchy (Business of Fashion)
“In the case of Waight Keller, strong couture collections, while powerful image-drivers, were simply not enough to propel sales growth,” writes Business of Fashion, which estimates Givenchy’s annual earnings to be around 400 million euros — a far cry from the 2 billion euro business LVMH was hoping to build with Waight Keller. “Under Tisci, Givenchy’s men’s business was crucial to its success, and this part of the brand remained robust under Waight Keller’s watch, according to retail market sources. The women’s ready-to-wear and accessories, however, never took off.”
For what it’s worth, we still think she left to go take over at Chanel. After all, someone needs to.
Americans Are Now Panic-Buying ‘Hair Color’ and Grooming Supplies, Walmart CEO Says (Business Insider)
“People are starting to need a haircut so you start to see more beard trimmers and hair color and things like that,” said Walmart CEO Doug McMillon. “It’s interesting to watch the dynamic play out.”
“The shift from sanitary needs to grooming supplies is just one aspect of how the coronavirus pandemic is changing consumers’ changing attitudes,” writes Business Insider, “and part of what experts have predicted could be a permanent change to the retail world.”
Retailers and Landlords Harder-Pressed to Find Common Ground (WWD)
“A retail broker said a tenant he’s worked with reached out to The Shops and Restaurants at Hudson Yards before April 1 rent was due to propose a percentage rent agreement for the next year, surmising that with his store closed and no sales coming in, he’d pay nothing in terms of rent, until the center reopened,” writes WWD. In response, the retailer received a form letter making it clear that rent was expected no matter what. “This does not modify tenant’s obligations to continue to pay all amounts due under the lease (including rent and any penalties relating to any late payments thereof),” wrote Hudson Yards. “We, of course, understand the difficulties you are facing… we are working through our own challenges as well […] In the meantime, we anticipate that all parties will continue to abide by the terms of the lease and we respectfully reserve all of our rights and remedies for any failure to do so.”
This is becoming an all-too-common story across the country as retailers come up against hard-nosed landlords who demand that they be paid, no matter what.
The Vessel at Hudson Yards (Getty Images)
Nearly a Third of Americans Believe a Conspiracy Theory About the Origins of the Coronavirus (Vox)
“While scientists are still researching the virus’s origins, at the moment, experts believe that Covid-19 likely came to humans from bats through an unknown intermediate animal,” writes Vox. “But a recent Pew study found nearly 30 percent of Americans believe something else — namely, the conspiracy theory that Covid-19 was created by humans in a laboratory. And, nearly a quarter of those surveyed believed humans created Covid-19 intentionally.”
It’s Always Sunny in Philadelphia (FX, Shutterstock)
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