Forever 21 files for bankruptcy, plans to close most of its stores in Asia and Europe - CNBC

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• Forever 21 files for bankruptcy, plans to close most of its stores in Asia and Europe - CNBC
• Meet Fourlaps: Apparel For Guys Who Won't Compromise On Performance Or Style. - Forbes
• Nearly $300 worth of Nike apparel stolen from Dick's Sporting Goods - Indiana Daily Student
• From Designing to Marketing: Major Tech Trends Shaping the Future of Luxury Apparel and Retail - 2019-09-29 - Page 1 - RFID Journal

Forever 21 files for bankruptcy, plans to close most of its stores in Asia and Europe - CNBC Posted: 29 Sep 2019 07:33 PM PDT Pedestrians pass in front of a Forever 21 store in New York. Scott Mlyn | CNBC Apparel retailer Forever 21 said Sunday night it is filing for Chapter 11 bankruptcy protection. The fast-fashion retailer obtained $275 million in financing from its existing lenders with JPMorgan Chase and $75 million in new capital from TPG Sixth Street Partners, as well as affiliated funds to help it support its operations in bankruptcy. A spokesperson for the retailer said the company has requested approval to close up to 178 U.S. stores. Forever 21, whose aggressive real estate expansion weighed on its finances, has 815 stores globally. The retailer is the seventh-largest tenant of mall-owner, Simon Property Group, by rent. Forever 21 plans to exit most of its international locations in Asia and Europe, the retailer said in a release. It will continue operations in Mexico and Latin America. It does not expect to exit any major markets in the U.S. It is one of a growing list of retailers, including Barneys and Mattress Firm, that have used bankruptcy protection help to downsize their footprints. As shoppers head online and away from the mall, many retailers have been saddled with uneconomical stores that are difficult to shed. Los Angeles-based Forever 21 was founded in 1984. The closely held retailer helped usher in an era of "fast fashion" shopping: offering frequent new styles of inexpensive clothes. Shoppers on its website can find $25 dresses and $10 tops. In recent years, though, sustainable fashion has caught on with the younger generation, who put increased focus on the impact of the clothes they buy on the environment. Since June 2017, shares of Zara-parent Inditex have fallen 27%, while shares of H&M have fallen 23%. Sustainable brands like Reformation, meantime, are growing. Private equity firm Permira took a stake in Reformation earlier this year. Second-hand websites like The Real Real have exploded in popularity. By 2028, the used-fashion market in the U.S. is expected to reach $64 billion, while fast-fashion will reach $44 billion, according to retail analytics firm GlobalData.

Meet Fourlaps: Apparel For Guys Who Won't Compromise On Performance Or Style. - Forbes Posted: 29 Sep 2019 12:58 PM PDT Fourlaps FW 2019 Fourlaps Today, we live in an "instant" world. The progressive advances in technology in just about every sector of business has put us in immediate possession of factual information. Nowadays, we see news as it happens around the world.  Apparel is sped to retail stores by land, air and sea at a pace that is more rapid than ever predicted. On a separate note, new fibers, finishes, and materials with improved qualities are constantly being developed. Computer technology has improved production techniques and statistical control and analysis to ensure more efficacies in marketing. Subsequently, the result has been control of price increases and more than often, reduced prices on fashion goods available almost at the instant that the consumer is psychologically and financially ready to purchase. In short, the cycle of fashion becomes more accelerated.  The increasingly higher level of consumer education with respect to performance fabrications in the United States helps to speed fashion cycles in two ways. Firstly, people have broadened their horizons and have new interests and new wants.  Second, more people are better educated and earn more money to satisfy those wants. These two factors provide significant impetus to the adoption of new fashions.  So where does a new brand get ideas and inspiration for new performance wear.  The answer, of coarse, is everywhere. A progressive brand will be required to always be alert to the new and exciting with never losing site of the recent past.  A modified brand today will understand that customers need to anticipate something new each season. But they also will need to recognize that whatever new style is introduced will have to take its place with what consumers already have in their wardrobes.  Beside myself, I know no one who starts will all new clothes each season. Rarely does a revolutionary style succeed.  Instead, it is the revolutionary new style that so often becomes the best-selling fashion.  Rush Hoodie Grey Heather Front FourLaps Launched in New York in 2016, Fourlaps prides itself on creating thoughtfully designed apparel for guys who don't compromise on performance or style. The company was founded by Daniel Shapiro, an entrepreneur with a passion for athletic apparel and over fifteen years of experience at major fashion brands. Although he loved training gear, he was disappointed with the industry's lackluster offerings for men. He soon realized that to get what he wanted, he'd have to create it himself: A well-designed athletic apparel brand made for the urban professional. Fourlaps is that vision in action—the union of bold and functional athletic design with expert craftsmanship. Today, the collection has evolved from a concise selection of primarily bright, color-blocked workout gear to a more diverse offering of stylish staple pieces that wear equally well both in and out of the gym. By introducing new fabrics and technologies into their designs - like revolutionary   37.5®- Fourlaps has grown into a seasoned lifestyle brand.  The company has made significant strides in 2019, aligning with aspirational partners like Peloton and Barry's Bootcamp. The traditionally direct-to-consumer brand is also now sold at top retailers including Neiman Marcus, Urban Outfitters, J.Crew and Paragon.   Since its inception, Fourlaps' designs have been a nod to early images of Ivy League and Olympic Athletes who performed at high levels with relatively simple but functional garments. Daniel was especially moved by   'The Boys of 36,'a documentary which tells the inspiring story of the American Olympic rowing team that triumphed against all odds in Nazi Germany - parallels can be drawn between the no-frills clothing these men wore, and the clean, classic lines and functional design elements seen in the current collection. Level Polo_Cobalt by Fourlaps Foulaps For Spring 2019, Fourlaps introduced their all-new Level Collection. Made with 37.5®technology, the fabric in these tees, tanks, and polos contains active particles to vent heat when you work up a sweat (and trap warmth when temperatures dip), so you stay comfortable in all conditions. Available in an array of solid colors ranging from classic black and gray to brighter options like cobalt and purple, these pieces work as well at the gym as they do on a particularly sweaty commute. The brand's selection of running and training shorts - the 7" Bolt, 9" Advance and 5" Extend - continue to be best-sellers, thanks to signature quick-dry, 4-way stretch fabric, notably excellent fit, and a variety of on-trend colorways. I recently had the privilege of speaking with Fourlaps Founder and CEO Daniel Shapiro about the brand DNA,  why he believes men are seeking versatility in performance wear and why he feels that consumers will  buy this product now! Fourlaps Founder and CEO Daniel Shapiro Fourlaps Joseph DeAcetis: Talk to Forbes about the DNA   and true essence of your brand? and your personal background? Daniel Shapiro: As a kid, I was always interested in clothing and consumer products. I loved giving style advice to my family (solicited or unsolicited) and helping them with purchases - from cars to computers, and everything in between. I spent a summer working for my dad, who is in the metal recycling business, and I think it cost him more than what he paid me because, by the end of the summer, he had all new computers, a fax machine, and a copier. I felt I had found my true calling in college when I was a sales associate at the St. Louis Galleria Banana Republic - one month I sold more clothing than anyone else on the team. When I eventually graduated and started a career in consulting, I was fantasizing about having my own apparel company. I got great advice over the years about how to turn that dream into a reality - the first step, as my family friend Stanley Tanger, gently put it, was "get some REAL, relevant experience." So, I got a job! After 8 years of working in merchandising for Gap and Old Navy, I relocated from San Francisco to Pittsburgh for a buying position with American Eagle. I got really into working out while in Pittsburgh. When I went shopping to support my newfound active lifestyle, I was disappointed by what I found. Some women's stores had a nice, small selection of men's products, but most of what I saw were over logoed t-shirts and baggy, neon shorts - too loud and not very versatile.  I eventually got recruited to be the Senior Director of Men's Wovens at Gap in NYC. That was when I realized people's attitudes were changing - other guys wanted to look good at the gym, too. There was my window of opportunity. I left Gap in Summer of 2014, and that Fall, started working on Fourlaps. Fourlaps is about looking good and feeling good both at the gym and outside. We take a less is more approach to design and are mindful about the products we create. We want them to serve a purpose in a guy's life from the gym to the street and everywhere in between.        Joseph DeAcetis: In your words, what is the significance of the name? Daniel Shapiro: It comes from the four laps around a track that make up a mile. The mile is one of the first athletic milestones for many athletes, and you conquer that and move forward. The '4' logo is based on an award ribbon - winning can mean beating a personal record, winning a race, or just trying to do better every day. Athletics is all about progression and challenging yourself, and that's what we hope to inspire.                                                                                                                                                    Joseph DeAcetis: How do you intend to market to Millennials and Gen Z with advertising dollars? Daniel Shapiro: Our marketing strategy is built around our product. We believe we've made the best-fitting, best-performing, best-looking athletic apparel on the market for men. We pay attention to the details, like secure phone pockets, that make a big difference when training. Once guys try our gear, the data tells us they often buy more - a lot more. So, our top priority is using email and our site to educate and inform our existing customers about new products. The bulk of our customers and our marketing target is men ages 24 to 45. For reaching and acquiring new customers, we are very active on Instagram, both organic and paid. Joseph DeAcetis: In your words, what are men seeking today's lifestyle clothing and how are you addressing those needs? Daniel Shapiro: Versatility. They want fewer, better pieces, rather than a drawer full of ragged cotton tees and baggy shorts. Men want to look good while they're working out (they are way behind women when it comes to this). Hopefully, the days of guys exercising in ill-fitting bright neon shirts and super long baggy pajama-fitting shorts are nearing an end. Joseph DeAcetis: Talk to Forbes in detail about the current collection and why it is important for consumers to be aware of this brand. Daniel Shapiro: The current collection is made up of essentials for an active lifestyle.   The anchors of a guy's athletic wardrobe should be a great pair of training shorts and a functional training tee.   Our Bolt, Advance and Extend shorts are great fitting, designed with four-way stretch fabrication that allows you to move and perform during tough workouts. Our Extend is a true running short with a 5" inseam, the Bolt is 7" and is more of a hybrid running and training short - it's our most popular length.   The 9" Advance is great for training and Yoga.   All our shorts are lined and feature a zipper pocket. We've received a lot of feedback that the liners are supportive without being restrictive. In terms of tops, our Level Tees (come in short sleeve, long sleeve, tanks, and a polo) are the perfect basic. They look great with a pair of training shorts or a pair of jeans. Our Rush Hoodie and Jogger and our Venture Half Zip are also great second layer pieces. Consumers should be aware of Fourlaps because we take a very different approach to design, sourcing, and fit. We scrutinize over every detail, fabric and trim to make the best and highest quality products in the market. We want our guy to stand out of a crowd in the best way possible, not stickout. Relay Track Jacket Navy Fourlaps Joseph DeAcetis: Talk to Forbes about how technology aided you in the development of your brand. Daniel Shapiro: We are constantly looking at new technologies to incorporate. We utilize 37.5 technology across our Level Collection, which is scientifically proven to regulate your body temperature and helps keep you comfortable and perform longer. We are also working on sustainability and reducing our carbon footprint - you can actually convert plastic bottles into yarns and fabrics. There are other innovations in biodegradable fabrics that we'll be tapping into as well. Joseph DeAcetis: What are your day-to-day responsibilities?   Daniel Shapiro: The difference between working in a corporate role at a larger company and being an entrepreneur is that there is a lot greater variance in your day to day activities.   I generally get in early on Monday's to recap business and then set high-level goals for the week.   There are so many things you can focus on, and with limited resources, you must spend your time on the right things. I would love to spend 100% of my time on product and customer needs but other things require my attention like cash flow and sales forecasts, working with the team to make sure we are all aligned and have the same priorities.   I spend time networking and talking to other entrepreneurs - you can learn so much from other people and their experiences. I also like to spend time outside the office for inspiration - New York is a great place to get inspired. Joseph DeAcetis: Where is the product made and why?  Daniel Shapiro: Most of our product is made in Asia - Thailand, and Vietnam - and some production is done in the US. I had hoped to make all our products in the US when I first started but found that I couldn't afford to do that and keep prices reasonable. While the minimums in Asia are higher than they are in the US, the quality is still very good. Working with great factories is key - you need partners who have the right quality control measures and skills to not only make a solid sample but also to make sure your bulk quantities come in looking as good, if not better than that sample. It's so important. Joseph DeAcetis: You have the floor: Talk to my viewers about why they should try this brand now.  Daniel Shapiro: Our apparel fits better, performs better, and looks better. I founded Fourlaps because I didn't want to compromise. Not on fit. Not on style. Not on performance. My team and I are obsessed with creating the highest-quality fitness apparel on the market. I personally spend hours and hours in fittings, making sure every piece moves and stretches for optimal performance. I go through hundreds of fabric samples to uncover the latest technology with the least possible impact on our planet. Where other brands might stop and say, "it's good enough," I keep shooting for perfection. This is what makes Fourlaps different, and our customers would back us up here. We know because they order frequently. It's common for a customer to order the same pair of our shorts in every color. Joseph DeAcetis: Talk to Forbes about your fabrications and colors for the season. Daniel Shapiro: Fabrications include four-way stretch and wicking in our running and training shorts and natural anti-microbial qualities in tops. In terms of color, we love having fun with it!   Teal, Cobalt, and Eggplant were big for us this season, as well as a lemon-yellow color that we used with army green. Smash Tee_Black-Multi Fourlaps Joseph DeAcetis: What are your future projections and growth strategy for the next few years? Daniel Shapiro: We have extremely aggressive growth projections. The first two years in business, we saw 3x growth. For 2019, we are projecting at least 5x growth, and I'm confident we can do it again in 2020.   How are we going to achieve this? Continue to grow strategically through an omnichannel strategy that includes the right wholesale partners and direct sales. We're also excited about our sustainability initiatives and will continue to introduce new products with innovative fabrics that people love. Stay tuned.

Nearly $300 worth of Nike apparel stolen from Dick's Sporting Goods - Indiana Daily Student Posted: 29 Sep 2019 10:37 AM PDT The Bloomington Police Department received a report of shoplifting at 2:04 p.m. Saturday at Dick's Sporting Goods. BPD Sgt. Shane Rasche said employees told police a male and a female stole almost $300 worth of apparel and took off in a gold Chevrolet sedan. Rasche said video footage showed a woman standing in between the automatic doors to prevent them from closing while a man ran out of the store through the open doors with arms full of merchandise. Rasche said the employees told police the individuals stole six of the same Nike sweaters, valued at $270. He said the thieves have not been found and Dick's Sporting Goods wants to press charges. Another shoplifting theft occurred Friday at the same Dick's Sporting Goods. Rasche said the thief stole Nike T-shirts. He said the thief was caught.   Like what you're reading? Support independent, award-winning college journalism on this site. Donate here.  La Casa and other local groups are organizing the events. Democrats are almost universally united in their support for an impeachment inquiry. The rally commemorated the start of Occupy Central.

From Designing to Marketing: Major Tech Trends Shaping the Future of Luxury Apparel and Retail - 2019-09-29 - Page 1 - RFID Journal Posted: 29 Sep 2019 05:02 AM PDT Sep 29, 2019— This is the age of innovations. Technologies such as automation and virtual reality (VR) seem to have a Midas touch. From health care to marketing and retail, every aspect of every sector has evolved with the blessing hand of smart technologies. The luxury apparel industry is also riding the wave of the digital revolution. Changes in consumer demands hit all retail sectors, and luxury brands are no different. The major brands, such as H&M, Uniqlo and Zara, had to force retailers to keep up with the evolving fashion business model. Moreover, fast fashion companies have established their brand by incorporating technologies to shorten the length of the fashion cycle and providing consumers with the apparel of their brands at an affordable price. From department stores to luxury boutiques, the fashion industry has witnessed significant changes throughout the past few years. This sector is known as a hotbed for innovations, and emerging technologies, such as radio frequency identification (RFID), artificial intelligence (AI), augmented reality (AR) and virtual reality, the Internet of Things (IoT), and blockchain, have made significant changes in the glittering world. These technologies have made the industry more personalized and convenient for users. AI and machine learning can take care of repetitive work. Earlier, the fashion industry was more reliant on human resources, but now robots have been widely accepted to manufacture apparel in completely new ways, considering the shift in user preferences. From robots that sew and cut fabric to AI applications that predict future style trends, technologies are boosting the growth of the luxury apparel industry in several ways. Welcoming the Advent of RFID The time for item-level RFID is here to stay as it differentiates itself and helps identify each unit or item uniquely. Adopting RFID tags is the most effective way of identifying grey market products and shoplifting. Apart from this, the taking of inventories using RFID technology is accurate to around 99 percent, unlike any other inventory-management method. As luxury apparel brands exercise strong control over their manufacturing and suppliers, the cost of RFID tags is almost negligible. Thus, instead of attaching RFID tags to a product in a retailer's distribution facility, brands ensure the embedding of RFID tags in clothing, footwear and accessory products that can be achieved only at the point of manufacture. This helps deal with counterfeits and grey-market products. NFC for Securing Authenticity Near Field Communication (NFC) has made its way into the fashion industry, and brands consider it the most ideal investment. It combines a physical product with a secure digital application, which in turn creates a better brand experience. NFC does more for brand owners than link consumers to a website. It protects brands with digital authentication, uses location awareness to offer more useful information and increases consumer engagement. NFC tags use a unique digital profile to connect apparel to the cloud and leverage its dataset to improve the customer experience. Personalization at Scale Thanks to AI and machine learning, personalization at scale is now a reality. Although it is nascent in the luxury apparent market, it will be the norm within a few years. These technologies will be the key factor in driving recommendations, offering natural language search responses and building one-to-one customer relations. Apart from this, the incorporation of such technologies will help brands know the current trends and improve the user's overall experience in both the online and virtual worlds. It is a simple formula: the company that figures out how to tie personal data with shopping habits will be the winner in the fashion industry.

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