H&M will soon launch a new brand, which is aimed at millennials. According to the Cut, the new brand will be under Oscar Olsson, a Swedish designer who's worked for H&M since 2013. Nyden will bring on collaborators from various fields to design clothes. "Olsson is adamant that Nyden is in no way 'fast fashion,'" The Cut explains. "The brand will not follow trends, seasons, or the Fashion Week calendar… Nyden’s drops will be limited; its 'affordable luxury' price points will fluctuate depending on the products."
Nike's decision comes months after H&M closed down outlets in South Africa following protests against the infamous ad that featured a black child with a hoodie with the text “coolest monkey in the jungle.” Race remains a highly sensitive issue in South Africa more than two decades after the end of apartheid.
While the company didn’t comment on the temporary closure, it released a statement saying the firm “opposes discrimination and has a long-standing commitment to diversity, inclusion and respect.”
In the online video that went viral last week, a white man expressed his appreciation for the beach he was visiting by commenting that there weren’t any black people to be seen — using an offensive racial slur. He was promptly fired from the food producer that is owned by his family, Eyewitness News reported, adding that his wife works for Nike.
The stores have reopened as of Friday last week.
Adidas expects to close down stores as part of a shift towards selling more goods online.
In an interview with the Financial Times, Kasper Rorsted said "over time, we will have fewer stores but they will be better," adding that over the coming year the number of Adidas stores was expected to contract slightly.
"Our website is the most important store we have in the world."
Adidas, which wants to double its e-commerce sales to €4 billion ($4.91 billion) by 2020 from the €1.6 billion it hit last year, with 2,500 stores globally and 13,000 additional mono-branded franchise stores, the Financial Times have said.
Nothing but nostalgic magic. At Versace’s SS18 show Donatella Versace walked down with the 90's icons for the finale. The shows collection reinvented Gianni’s iconic prints from the Vogue look to Animalier to Barocco. 2017 marked the 20th anniversary to the gruesome death of Gianni Versace.