Word: apparelled
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Marketers are doing what comes naturally: following the money. Boomers spent $42.7 billion on apparel last year, compared with teenagers, who spent $20 billion, according to the NPD Group Inc., a market-research firm. The over-50 cohort has $750 billion in spending power and controls 50% of all discretionary income. Fashion executives, struggling with a stagnant apparel market in recent years, have been eager to find a new niche. "All you have to do is look at the numbers of population and spending power of the boomers," says Wendy Liebmann, president of WSL Strategic Retail. "You just have...
...your bank telling you that it needs the money you put into your savings account more than you do--and then keeping it. Result: a wholesale downsizing of the American Dream. It began in the 1980s with the elimination of middle-class, entry-level jobs in lower-paying industries--apparel, textiles and shoes, among others. More recently it spread to jobs that pay solid middle-class wages, starting with the steel industry, then airlines and now autos--with no end in sight...
...LINEOne of the first groups to experiment with corporate sponsorship was Veritas Records, the student-run record label launched at Harvard in 2003. According to James M. Rhodes ’06, the label’s president, Veritas first approached Adidas two years ago, when the sports-apparel store opened in Harvard Square, and the two of them worked together to produce CDs and organize concerts. At the swanky 2004 CD-release party for the first Veritas Records compilation, held in Boston at the Roxy club, Adidas provided headbands, wristbands, and a banner to display on the stage.Since...
...where he launched the hugely successful Dockers brand in 1986. Siegel left Levi's to run Stride Rite, then headed south to Charleston, S.C., to contemplate retirement. But, he says, "those thoughts lasted like two minutes." He took on a few consulting jobs. Among them was Devanlay, the global apparel licensor of Lacoste, a brand that had been so badly managed in America that it was eventually withdrawn from the U.S. market, even though it had ruled fashion for a while...
...story of a little French crocodile smashing its way onto the U.S. apparel scene is a fashion legend. René Lacoste, a famous French tennis champion nicknamed the Alligator (le Crocodile in French) by the American press because he "never let go of his prey," grew tired of the starched, long-sleeved shirts that players wore during the 1920s. He designed a breathable, short-sleeved polo for himself, and soon for his tennis friends too, creating what was to become one of the most famous sportswear companies in France...