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Nike, Lululemon soar as Trump touts productive call with Vietnam

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April 7, 2025

Shares in companies that have large manufacturing operations in Vietnam, including Nike Inc. and Lululemon Athletica Inc., soared Friday 

Nike

Nike shares erased an earlier loss to gain as much as 5.9%, while On Holding AG and Skechers USA Inc. also rose more than 6% each. Lululemon Athletica shares meanwhile jumped 3.9%. Wayfair Inc. was briefly halted for volatility after erasing a 19% decline to jump as much as 6.4%. 

Trump said on social media that he spoke to To Lam and Vietnam wants to “cut their tariffs down to zero.” The president unveiled a levy of 46% on goods imported from Vietnam, effective April 9. Apparel and shoemakers had shifted manufacturing to the southeast Asia country in recent years after Trump hit China will levies during his first term. 

About half of all Nike brand shoes and 39% of Adidas shoes are made in Vietnam, according to regulatory filings, with the country being the largest supplier of footwear for both companies. Nike has already said it expects its gross margin to decline sharply this quarter, in part due to US tariffs on products from China and Mexico. 

Nike shares are still down more than 20% on the year, while Lululemon is off more than 30%.

 



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Portuguese sneaker brand JAK makes UK debut at Selfridges

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Portuguese premium sneaker brand JAK makes its UK debut today (14 April), launching exclusively within Selfridges flagship London store to showcase its “timeless footwear designs”.

Having already built “a loyal global following”, this is the first stage of the direct-to-consumer brand’s journey into UK physical retail with one of the country’s biggest names as its first UK partner, as it “takes a bold step into one of the world’s most influential fashion capitals”.

And there will be news of “further expansion in the coming months”, but co-founders Isabel Henriques da Silva and José Maria Reffois are first concentrating on this debut which marks a “major milestone for the brand”. 

Bringing its mission (“minimalist aesthetic, superior Portuguese craftsmanship and commitment to sustainable production”) to life, JAK takes its position on the store’s first floor Men’s Footwear Department with the collection also accessible online via the new JAK UK website.

Lisbon-designed and created in its family-owned factories, JAK’s co-founder and creative director da Silva said: “Our commitment to quality, design, and responsible production aligns perfectly with the values of the modern consumer. We can’t wait for UK shoppers to experience JAK’s understated yet luxurious footwear firsthand.”

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Good On You unveils first report ‘charting fashion’s environmental performance gap’

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The difference between fashion’s eco ambitions and actual actions comes to light again with a new report by Good On You revealing “alarming gaps” between the two. 

FIEO

The fashion and beauty brands rating platform has released its ‘Fashion Planet Benchmark Report’ in its journal, and the findings are far from glowing.

The comprehensive analysis from more than 5,400 large and small brands exposes shortfalls in emissions tracking, supply chain transparency, and circular design initiatives.

Key findings from the report include large fashion brands scoring just 30% on average for environmental impact measures, while small brands perform better at 46%.

Meanwhile, 88% of brands with emissions targets don’t disclose any progress towards meeting them and despite extensive talk about circularity, only 3% of large brands offer rental schemes and just 13% have resale programmes.

And when it come to large brands investing in research and development for circular innovations, only 6% are doing so.

But on a more positive note, top-performing brands “show that doing better is possible” with the highest score among the sample of large brands being 86% whereas several small brands scored 100%.

“The numbers say it all. Sadly, the industry is far behind where it needs to be to protect the environment and our future,” said Sandra Capponi, co-founder of Good On You. 

“Without stronger action and systemic changes, the industry risks losing the trust of consumers, investors, and regulators — all while undermining the resilience of its own supply chains. Fashion simply can’t continue down this path.”
 

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After big fashion investment, John Lewis’s attention turns to Home department

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After making a major investment to build its fashion offer, John Lewis is now doing the same to its Home brand “to reinforce its unique position as a lifestyle leader and expert on everyday home products”. 

This month, the department store retailer is launching a new, glossy home publication called ‘Foundation’ which will be published bi-annually.  The inaugural issue will be posted to over 250,000 customers including ‘My John Lewis’ members. 

The launch of the publication coincides with John Lewis’s spring home marketing campaign, ‘One thing can make the room’, which is the biggest home campaign the retailer has run since 2021.

The campaign centres on the idea that “whether it’s a statement sofa, a sculptural lamp, or the perfect bed, one thing can make the room, and showcases exclusive, hero products from John Lewis’s spring/summer collections”. 

This spring, John Lewis is also adding 30 new brands to its Home offer including one with a fashion link, Harlequin x Henry Holland, plus West Elm and By Hope, as well as a collaboration with British design house Sanderson. 

In another move “to highlight John Lewis’s in-house design expertise” the retailer will work with the winner of this year’s BBC Interior Design Masters TV competition, which launches today (14 April).

The winner will have the opportunity to design their very own homeware collection in collaboration with the retailer’s 23 strong, in-house UK-based design team led by new head of design, David Barrett. 

Rosie Hanley, John Lewis brand director said: “We hold a unique position in the UK home market. Over one third of the UK population shop with John Lewis, and last year home customers grew by 11%.  We’re trusted for our quality, service and unrivalled range of home products.  The investment we’re making in our brand this spring is to inspire our customers with our style.” 

She added: “Printed publications that you want to keep and display are having a revival, so our new publication is a great way to showcase our incredible home products and reinforce our authority as a style leader in the home space.”

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