Peloton Founder Hits Billionaire Status on Home-Workout Boom | News & Analysis

NEW YORK, United States — Peloton Interactive Inc. founder John Foley is now a billionaire, thanks to a stunning rally in his home-fitness company’s shares since the pandemic began. After posting a video to Kickstarter in 2013, Foley, a cycling enthusiast, raised $307,000 to help get his fledgling in-home exercise startup off the ground. The former e-commerce president at Barnes & Noble wanted to bring the indoor cycling classes like those he was taking at New York boutiques SoulCycle and Flywheel into people’s homes. He had high hopes for Peloton,…

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J.C. Penney Posts Steep Sales Decline for Second Quarter | News & Analysis

J.C. Penney Store | Source: Shutterstock PLANO, United States — J.C. Penney Co. sales plunged 45 percent in the second quarter as the department-store chain entered bankruptcy and struggled with an accelerated shift away from physical stores and the Covid-19 outbreak. Net sales fell to $1.39 billion in the period ended August 1 from $2.51 billion a year earlier, the company reported in a regulatory filing Thursday. The retailer’s lenders have agreed to team up with landlords Simon Property Group Inc. and Brookfield Property Partners to buy the troubled company,…

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Prada Says China Sales To Date Well Above 2019 Levels | News & Analysis

MILAN, Italy — Italian luxury goods group Prada’s sales in China have recovered strongly since shops reopened there and to date have risen well above last year’s levels, Chief Executive Patrizio Bertelli told Reuters on Friday. Bertelli said the appetite of Chinese customers for luxury goods remained very strong despite the fallout from the coronavirus pandemic, which has tipped the global economy into recession and frozen international travel. The virus first emerged in China late last year and then spread to the rest of the world, forcing high-end retailers to…

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Beauty Influencer Events Are Making a Comeback | The Business of Beauty

NEW YORK, United States – Though a coronavirus vaccine may be months away, there is one sure sign that the beauty world is returning to normal: brand activations are back. Pre-pandemic, anyone with a certain number of Instagram followers and the “right look” could count on a steady stream of invitations to photoshoots and all-expenses-paid vacations to exotic locales. Covid-19 put a stop to that in March. But in the last few weeks, the party machine has begun to rev back up again. Only now, Los Angeles has to stand…

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Amidst Tumult, Everlane Raises $85 Million | News & Analysis, BoF Professional

LONDON, United Kingdom — It’s been a tumultuous few months for Everlane, but a major new investment round led by LVMH-linked L Catterton is giving the brand a much more stable outlook. The direct-to-consumer company known for its promise of radical transparency announced an $85 million funding round led by the private equity powerhouse Friday. The terms of the transaction were not disclosed. It’s a major cash infusion and big endorsement from a financing firm known in the industry for its expertise scaling up young, buzzy brands. L Catterton’s other…

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Katie Grand’s New Project: ‘It’s Not Just Another Magazine’ | BoF Exclusive, News & Analysis, BoF Professional, Tim’s Take

LONDON, United Kingdom — Last Friday, Katie Grand quit LOVE, the magazine she’d birthed and raised for 11 years. On Saturday morning, she leapt out of bed at 7 am and started typing names into Instagram. Down the rabbit hole she went. Fifteen minutes later, she had it. The Perfect Magazine. By 7:20 am, she’d got the Twitter handle, by 8 am, TikTok. By the end of the day, she’d nailed the URL, the domain name and YouTube: “By Sunday, I was sat in my kitchen with Catherine Russell, my old…

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Tim Blanks’ Top Fashion Shows of All-Time: Prada Autumn/Winter 2013, February 21, 2013 | Fashion Show Review, Tim’s Take, Tim Blanks’ Top Fashion Shows of All-Time

Miuccia Prada has always been a woman of few words. After her presentation for Autumn/Winter 2013, she murmured a typically laconic, “It’s a lot of things I really like.” Meanwhile, I was still scraping myself off the floor after yet another show-of-the-season from Prada. She’s done that a lot since she first launched her family’s 70-year-old bag business onto the catwalk in 1983. So much so that it was a gun-to-my-head challenge to pick just one show to add to my top shows of all-time list, compounded by the fact…

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StockX Co-Founder Josh Luber Exits | News & Analysis, BoF Professional

DETROIT, United States — Josh Luber is leaving StockX, the marketplace for sneakerheads and collectors he co-founded five years ago. Luber was the face of StockX, touting the platform’s sneakers-as-stocks approach on the travelling speaking circuit and on podcasts. But he played a diminished role internally as the company grew. In June 2019, as StockX announced its latest funding round at a $1 billion valuation, he was replaced as chief executive by Scott Cutler, formerly of eBay and Stubhub. After Cutler joined, Luber focused on new business lines, including trading cards,…

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Power Moves | Sephora Names New President and CEO, Courrèges Hires Artistic Director From Louis Vuitton | News & Analysis, Power Moves

LONDON, United Kingdom — BoF compiles the most important professional moves of the week. Sephora names new president and CEO Martin Brok, who most recently served as Starbucks Inc.’s president of Europe, Middle East and Africa, has been named president and chief executive of LVMH-owned Sephora, effective September 14. Brok will succeed Chris de Lapuente, who led the beauty retailer for 10 years. De Lapuente will remain a member of LVMH’s executive committee and will take on additional responsibilities at the group, to be announced at a later date.  Courrèges…

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The BoF Podcast: The Fate of the Physical Runway Show | Podcasts

(Clockwise L-R) Tim Blanks, Robin Givhan, Rachel Tashjian, Lauren Sherman | Source: Courtesy To subscribe to the BoF Podcast, please follow this link.  LONDON, United Kingdom — Do fashion shows still matter? In the latest episode of The BoF Podcast, BoF Editor-at-Large Tim Blanks, The Washington Post’s fashion critic Robin Givhan and GQ Magazine writer Rachel Tashjian join BoF Executive Editor Lauren Sherman in a virtual panel discussion on how the pandemic tested designers’ ability to captivate buyers, media and consumers through creativity and the use of digital tool. What happens next?…

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