Word: apparelled
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When the retail world's bright lights gathered Jan. 15 at investment bank Financo's annual dinner in New York City (a can't -miss annual event for the apparel crowd), the gossips, according to Fortune.com, had one juicy no-show to chatter about: Where was Gap CEO Paul Pressler? Fashion insiders had been numbering Pressler's days for months. And sure enough, after nearly two years of limping sales and yet another holiday season in which the Gap's big idea (more hoodies?) drew yawns from shoppers, Pressler agreed a few days later to step down...
Similarly opportunistic, some Hong Kong--based manufacturers are now remaking themselves by providing supply-chain-management to big customers. TAL Apparel, which makes 1 out of every 7 dress shirts sold in the U.S. at its factories in Asia and North America, nimbly adjusts production for major customers like JCPenney based on weekly sales results. In a practice linked to the "fast fashion" trend, retailers can send orders to TAL each week. TAL then ships out the product in four days or less--emergency orders can be rushed through in a mere four hours. TAL sorts the goods into boxes...
...part of the business school's just-launched social entrepreneurship program, the undergraduate vendors have teamed with an organization that knows a few things about socially responsible marketing: Edun Apparel is a clothing line started in 2005 by U2's Bono and his wife, Ali Hewson, which aims to bring fair employment practices to the fashion industry. "Bono and Ali are both committed to the mission that trade is more important than aid," said Edun CEO Christian Kemp-Griffin...
...Timing is key in the success of any new venture, and the surging popularity of fair-trade coffee and other organic brands surely makes it easier to communicate the importance of ethically made clothing to prospective customers. American Apparel has already found success with its commitment to "sweatshop-free" cotton manufacturing in downtown Los Angeles. Workers, including many immigrants, are paid an average of $12 an hour, can buy affordable health insurance and receive free English lessons. A recent study of the buying habits of so-called Millennials, by Cone Inc. found that 69% of 13- to 25-year-olds...
...ultimately the revival of Penney and the continued success of Kohl's can be traced to one thing: women are simply finding things in these stores that they want to buy. And it has certainly helped that Wal-Mart botched an attempt to upgrade the fashion quotient in its apparel offerings. "JCPenney and Kohl's finally got the merchandise right," says Nicholson. "It's hipper, and it's not boring anymore...