Sales at Cefinn — the premium label owned by Samantha Cameron — struggled in its latest year as it moved away from wholesale to focus on DTC.
Cefinn
That’s according to The Times, which has seen figures from the company for the year to last October.
It said sales fell 5% to just £4.2 million in the 12-month period, as Cefinn took a “strategic” decision to move away from wholesale sites such as Matches and Net-A-Porter. In Matches’ case, the company had no choice given the webstore’s collapse into administration earlier in the year. But Net-A-Porter has also struggled and the DTC shift reflects a wider move within the luxury sector.
While turnover is tiny, the Cefinn label has a higher profile than many similar companies given the association with Samantha Cameron. The wife of former UK Prime Minister David Cameron had worked in the luxury goods sector before she moved into 10 Downing Street and launched her label in 2017, the year after her husband stepped down as PM following the Brexit vote.
The company’s current DTC model comes via both its own shops and its webstore.
But while the strategy change caused sales to fall, the newspaper also reported that DTC revenue specifically rose 28% in the year to £3.6 million.
The brand’s customer base also rose by 29% and the company said the momentum has continued into the current financial year.
As for profitability, that remains elusive with the brand recording a pre-tax loss again, although it narrowed slightly to £354,000 from £357,000. It said the loss “reflects the nature of an evolving, contemporary fashion business which has had to change its strategy mid-year through no fault of its own”.
“Despite the challenge of moving away from our wholesale distribution channel, our pivot towards a wider direct-to-consumer proposition has performed well,” the company explained. “We are pleased that we are delivering a strong performance across e-commerce, bricks and mortar and international sales, highlighting the appeal of the brand across different channels and markets.”
Cameron, who was previously a director of Smythson, launched the label with a focus on career and occasion clothing, although she’s since added more casual options to the line-up.
She’s one of the best advertisements for her own designs and is often photographed wearing them, as are a number of prominent royals and other well-connected celebs.
The company has a permanent store on Elizabeth Street in London’s upmarket Belgravia and a pop-up on the King’s Road in Chelsea. The newspaper said Cefinn is also negotiating for another permanent store.
Carter’s, Inc., the U.S. apparel maker for babies and young children, announced on Wednesday that Douglas Palladini has been appointed to the role of chief executive officer and president, effective April 3.
Carter’s
“Carter’s is a storied company with a powerful legacy and iconic brands that have long been trusted by families with young children for its quality, value, and style,” said Palladini.
“I am eager to continue to advance the important work underway in our retail and wholesale businesses, further build upon Carter’s brand equity, and create lasting connections with our customers through accelerated relevance, inspiring products, and meaningful storytelling.”
With over three decades of senior leadership experience within brand and direct-to-consumer strategy, Palladini joined Carter’s from V.F. Corporation, where he served as global brand president of Vans. In this role, he is credited for more than doubling global revenue to over $4.2 billion in less than six years, while also growing profitability and brand equity, among other achievements.
With Palladini, Carter’s said it will continue to prioritize innovation and customer engagement to strengthen its connection with families with young children worldwide, according to the Atlanta-based company in a press release.
“After a comprehensive search, we are thrilled to appoint Doug Palladini as CEO of Carter’s,” said William Montgoris, non-executive chairman of the board.
“Doug’s remarkable track record of growing brands, his deep understanding of consumer-driven strategies, and his expertise in creating global brand connections will be invaluable as we continue to build upon Carter’s strong foundation. Under Doug’s leadership, Carter’s will continue to innovate, strengthen our unique, multi-channel business model, and stay true to our mission of providing high-quality, affordable apparel for young children.”
Yohji Yamamoto has revealed plans to stage a residency during Milan Design Week in the city’s most famous boutique, 10 Corso Como.
The residency marks the latest significant presentation by Yamamoto in the boutique, 16 months after a brilliant exhibition of his fashion in the same store, entitled “Letter to the Future.”
Yohji’s residency will run from Tuesday, April 1, to Tuesday, April 22, while Milan Design Week, or the Salone del Mobile Milano, runs from April 1 to 13.
“The poet of black [will] transform the 10 Corso Como pop-up into an immersive experience. The residency, a harmonious blend of art, fashion, and innovation, underscores Yamamoto’s enduring legacy as a pioneer in avant-garde design,” said Yamamoto in a release.
Yohji Yamamoto residency at 10 Corso Como – Courtesy
Built inside the iconic 10 Corso Como cutting-edge space, the brand’s dedicated installation will offer “an intimate exploration of Yamamoto’s signature creations, showcasing a carefully curated selection from his latest Spring/Summer 2025 womenswear, menswear, and Discord collections.”
The collaboration is intended as a celebration of the visionary craftsmanship that has solidified Yohji Yamamoto’s reputation as a global luminary in contemporary fashion, offering a deep dive into the singular world of the designer.
“A place where poetry and radical style converge, it redefines the boundaries of contemporary elegance, celebrating the artistry, craftsmanship, and rebellious spirit that have long distinguished Yohji Yamamoto’s creations,” added the house of Yamamoto.
10 Corso Como is an iconic destination for “Fuorisalone,” the Milanese term for events dotted around the city, highlighting independent ideas during Design Week. It is “the ultimate place to discover the latest trends. For the Salone del Mobile, it transforms itself into a creative hub to offer high-profile insights and entertainment to visitors hungry for the latest in the design scene,” added Yamamoto.
The residency deepens the links between Yohji and Corso Como, which staged a rare retrospective of Yamamoto’s work last June. Curated with smart understatement by Alessio de’ Navasques, that exhibition also marked a new moment in the life of Corso Como after its acquisition by Tiziana Fausti, the noted Bergamo boutique owner.
Featuring a geometric felt origami coat dress dating from Fall/Winter 1996 and a series of looks showcased at Yamamoto’s recent Paris City Hall shows, the exhibition was a must-see fashion statement by a designer from fashion’s pantheon, who made his Paris runway debut four decades ago.
So, expect something very novel in this latest Italo-Japanese tandem.
Foot Locker, Inc. announced on Wednesday that Franklin Bracken, currently executive vice president and chief commercial officer, has been appointed to the role of president, effective immediately.
Foot Locker
Bracken will continue reporting to Mary Dillon, Foot Locker’s chief executive officer.
In his new role, the president will work alongside Dillon on the execution of the firm’s “Lace Up Plan”, aimed to elevate the omni-retail experience, enhance productivity, and create long-term shareholder value. Bracken will also continue to oversee global retail operations, merchandising, marketing, digital, loyalty, and real estate.
With over 30 years of experience in brand management, consulting, digital transformation, marketing, merchandising, and retail operations, Bracken joined Foot Locker in 2010 and has since held several senior leadership roles of increasing responsibility across the company.
Prior to Foot Locker, Bracken held senior management roles at The Coca-Cola Company, SABMiller, and began his career as a management consultant at PricewaterhouseCoopers.
“We are delighted to recognize Frank’s leadership and valuable contributions to Foot Locker, Inc. with this appointment,” said Dillon.
“Over his 15-year tenure, Frank has led several important initiatives across the business, including playing a critical role in the development and execution of our Lace Up Plan, building our brand partnerships, and advancing our omnichannel capabilities. I look forward to continuing to partner with him in his new role as we execute our strategies, further our significant progress in advancing the Lace Up Plan, and create sustained value for our stakeholders.”
Foot Locker is a U.S.-based specialty footwear retailer which today boasts some 2,400 retail stores in 26 countries across North America, Europe, Asia, Australia, and New Zealand, and a licensed store presence in Europe, the Middle East and Asia.
“It’s an honor to be named president as we continue building on the momentum of our Lace Up Plan,” said Bracken. “Looking ahead to the remainder of 2025 and beyond, we are well-positioned to accelerate our progress and deliver on our long-term operational and financial goals as we enter the next phase of execution. We remain committed to expanding sneaker culture and elevating the omnichannel experience for our customers and brand partners, and I’m confident our proven consumer-focused initiatives will further deepen customer engagement, strengthen our market position, and drive meaningful business results.”
In its most recenting trading update earlier this month, Foot Locker announced a fourth-quarter sales drop of 5.8%, in the three months ended February 1.
The company, which operates Foot Locker, Champs Sports, Atmos and WSS, said sales reached $2,243 million, as compared with sales of $2,380 million in the fourth quarter of 2023.
Entertainment8 years ago