London-based accessories brand Minnessak has formed a global partnership with military-inspired US apparel company Alpha Industries.
The objective for the “pioneering slow fashion brand” is to gain access to Alpha’s deadstock MA-1 flight jackets.
Materials from the jackets are upcycled by Minnessak at its London atelier workshop and repurposed into a new collection of bags and accessories for FW25.
Each jacket is hand cut before being recrafted using Swiss RiRi zips, soft 20-year-old Italian leathers and canvas straps.
And the association is said to be a “perfect fit” as Minnessak co-founder Peter Keep said his brand “was established on a commitment to upcycling and repurposing everything from fabrics to hardware, and the styles at the heart of the brand lean heavily into vintage military-grade nylons taken from USAF MA-1 jackets.”
Matthew Pantoja, chief brand officer at Alpha Industries added: “We are always exploring the profound influence of military style on fashion. Collaborating with Minnessak allows us to see this influence through a new lens as our iconic MA-1 jackets are reimagined and upcycled into something unique.”
Now stocked in over 20 premium fashion stores internationally, including END. Clothing in the UK, Minnessak’s planet-friendly bags are a continuation of a commitment to sustainability.
The collection also introduces freshly-sourced vintage Japanese Obi silks as well as a limited edition run of Halley Stevenson dry waxed cottons.
The wider collection will be available to view in the ‘I Go Out’ section at Pitti Uomo in Florence from 14-17 January, Show & Tell in Chicago (February 3-4) and D&A in New York (16-18 February).
It will also be presented at Minnessak’s London showroom with wholesale prices ranging from £35-£239 ($61-$399).
Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.
Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.
This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.
“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.
The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.
The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.
Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.
Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.
In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.
Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.
Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.
Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.
Italian luxury goods group Salvatore Ferragamo said on Thursday its revenue dropped by 4% at constant currencies in the fourth quarter, flagging “encouraging results” from its direct-to-consumer sales which were overall flat in the last three months of the year.
Sales in the North American region, which accounted for 29% of total revenue, were up 6.3% in the quarter. However, the Asia Pacific area saw a 25% drop in revenue at constant exchange rates.
The slowdown in global demand for luxury goods, especially in China, has made the group’s turnaround harder. Overall preliminary revenues reached 1.03 billion euros in 2024, in line with analysts’ estimates, according to an LSEG consensus.
“January shows an acceleration in our DTC channel’s growth, albeit supported by the different timing of the Chinese New Year and a favourable comparison base versus last year”, Chief Executive Marco Gobbetti said in a statement.