Andrew Keith is stepping down from Selfridges “to pursue new ventures,” the iconic UK department store chain said Tuesday.

Keith, who previously revitalised Hong Kong’s Lane Crawford department store, joined Selfridges in early 2021 as managing director under Anne Pitcher during the lead-up to a blockbuster sale to Thailand’s Central Group and Austria’s Signa Holding, which valued Selfridges’ at around $5 billion. He took the reins as CEO in June 2023.

At Selfridges, Keith navigated a rocky UK retail market in which rampant inflation, recurring coronavirus outbreaks and the discontinuation of tax-free shopping cut short a wave of post-pandemic enthusiasm for luxury fashion.

Keith worked to accelerate the rollout of rental and resale services at Selfridges in an appeal to price- and sustainability-conscious shoppers, as well as continuing the store’s signature mix of high-end and accessible activations: playing host to everything from a rooftop restaurant celebrating a Riviera-themed Dior capsule to the UK launch of Skims shapewear — or, currently, a sports bar-themed activation for Champion sweatshirts.

André Maeder, CEO of parent company Selfridges Group, will take on additional responsibilities as CEO of the flagship Selfridges brand following the move. Maeder joined Selfridges Group (which also owns De Bijenkorf, Brown Thomas and Arnotts) last October after 10 years leading German department store group KaDeWe.

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Selfridges has attracted a bid from a potential buyer at a $5.7 billion valuation, the latest indication that the department store’s big bet on physical retail is paying off. But after a bruising pandemic year, the British chain could struggle to rebound amid a continued collapse in international tourism and a shift to online sales.

🇨🇴 Colombiamoda attracts 12,000 fashion buyers to Medellín. The annual fashion week and trade show event attracted buyers from Brazil, Mexico, Panama, Peru, Costa Rica and Ecuador as well as markets further afield such as the US, EU and Australia to Colombia’s second-largest city between July 23 and 25. A B2B hub for the Latin American region, the event featured 600 brands including local names Beatriz Camacho, Andrés Otálora and Franklin Ramos across Medellín, a major textile manufacturing centre. Sebastián Díez, CEO at Inexmoda, the organisation behind the event, said: “Colombiamoda has evolved over 35 years… [to become a] platform for the internationalisation of our national fashion industry.” [El Colombiano, La Republica]

🇨🇳 LVMH executive strikes cautious tone about China market outlook. Company CFO Jean-Jacques Guiony has cited uncertainty regarding how China’s policy changes will be implemented and how customers will respond. The central bank recently cut interest rates in a bid to revitalise struggling property markets, which is one key factor dampening consumer confidence in China. But the authorities have also pledged to “properly regulate excessive incomes.” A 14 percent drop in sales in Asia excluding Japan (a territory dominated by China) deepened in LVMH’s second quarter versus a 6 percent drop the previous quarter. The US market grew by a lacklustre 2 percent. [BoF]

🇮🇳 Hindustan Unilever’s profit disappoints on sluggish India demand. The beauty, personal care and household goods major, whose portfolio includes brands like Lakmé, Glow & Lovely, Dove and Pond’s, posted an underwhelming quarterly profit weighed down by muted consumer demand during India’s scorching summer season and rising inflation. The Indian unit of Unilever Plc saw net income rise 2.8 percent year over year to 25.4 billion rupees ($303 million) for the quarter ended June 30, falling short of Bloomberg’s average of analysts’ estimates. [BoF]

🇲🇱 Dior dresses Mali-born French singer Aya Nakamura for Paris Olympics. The French luxury brand provided costumes for Nakamura and other performers including Lady Gaga, Aya Juliette Armanet, Celine Dion and Axelle Saint-Cirel at the opening ceremony. One of most streamed female francophone music artists in the world since launching her debut album in 2017, Nakamura was born Aya Danioko in Bamako, Mali and moved to France as a child later becoming a French citizen. Nakamura, whose stage name was inspired by a character in the US TV drama ‘Heroes’, was named Lancôme brand ambassador last year. [BoF, CNN, Harper’s Bazaar]

🇺🇦 Ukrainian Fashion Week to return to Kyiv from September 1 to 4. The event is planning to return to the nation’s capital for the first time since Russia’s invasion in February 2022, to present shows for around 50 brands including Litkovska, Frolov, Bobkova and Paskal, mostly at the Mystetskyi Arsenal, which has bomb shelters. For the past three seasons, fashion weeks in Berlin, London and Copenhagen have allocated runways for Ukrainian designers who fled. “Despite missile attacks, air raid sirens and daily challenges, our commitment remains to supporting our designers with their creativity and business growth,” said Iryna Danylevska, event founder and CEO. Though if the war intensifies, organisers indicated they are prepared to cancel. [BoF Inbox, CNN]

🇯🇵 Moncler’s operating profit beats expectations, Japan boosts revenues. The Milan-based group, owner of its namesake puffer jacket brand and Stone Island, has reported consolidated revenues of 1.23 billion euros ($1.34 billion) for the first half of the year, in line with a company-provided consensus. Revenues at Moncler, the principal brand which accounts for over 80 percent of group sales, rose 5 percent in the second quarter, driven by strong growth in Japan, supported mostly by tourists, and by a positive performance on the Chinese mainland. [BoF]

🇮🇳 India’s Aditya Birla Group launches jewellery brand Indriya. The conglomerate has entered the jewellery retail market, directly competing with nationwide chains like Tata-owned Titan Company’s Tanishq and Reliance Industries’ Reliance Jewels, Kalyan Jewellers and Joyalukkas. Aditya Birla, whose portfolio includes local joint ventures with international retailers like Reebok and Galeries Lafayette and domestic holdings like Pantaloons, Sabyasachi and The Collective, has reported allocated 5,000 crore rupees ($600 million) to invest in the new brand. [Economic Times]

🇨🇳 China slow down weighs on SMCP H1 performance. The French accessible luxury group that owns contemporary brands Sandro, Maje and Claudie Pierlot has reported net losses of 27.7 million euros ($30 million) for the period, with CEO Isabelle Guichot citing “one-off effects related to the restructuring of our store network in China” as one of several contributing factors. [Sourcing Journal]

🇮🇳 Indian beauty giant Nykaa to raise funds to further global expansion. Parent company FSN E-Commerce Ventures, which operates both the brand’s beauty and fashion retail businesses, plans to raise 125 crore rupees ($15 million) in non-convertible debentures from a foreign portfolio investor. In addition to plans for a 20 crore rupee investment in wholly-owned subsidiary FSN International, the company launched its website in the UAE and Saudi Arabia in January and opened its first physical store in Dubai two months later. [Economic Times]

🇿🇦 Shein to open pop-up store in South Africa to woo more shoppers. Ultra-fast-fashion giant Shein will open a pop-up store in Johannesburg, South Africa in August as the online retailer aims to expand its brand recognition in the country. China-founded Shein and Temu both benefitted from the local de minimis tax regime until July 1 when the import ‘loophole’ was closed by the South African authorities. [BoF]

🇮🇳 Indian luggage brand Nasher Miles raises $4 million. The DTC brand founded in 2017 by Abhishek Daga, Lokesh Daga and Shruti Kedia Daga has secured the funding in a bridge round, valuing the company at $30 million, from a consortium of 40 investors including private equity, angel investors and friends and family. [Economic Times]

🇨🇳 H&M to collaborate with Chinese brand Garçon by Garçon. The Swedish high-street fashion giant has tapped Garçon by Garçon, the label founded by Tang Dayun, for a co-branded capsule, following earlier collaborations with up-and-coming Chinese brands such as Angel Chen and Pronounce. [Jing Daily]

🇮🇳 Indian jewellers report buying frenzy following gold duty cut. On the back of a government cut of the duty on gold imports from 15 percent to 6 percent, retailers based in Mumbai’s jewellery hub Zaveri Bazaar have reported a surge in demand for heavy gold jewellery and noted heavy customer footfall ahead of the upcoming wedding season. [Economic Times]

🇿🇦 South African milliner Albertus Swanepoel has died. According to the Council of Fashion Designers of America, the designer who relocated to New York early in his career has died at the age of 65. Swanepoel created hats and designs for the likes of Marc Jacobs, Tommy Hilfiger and Peter Som among others and collaborated with brands like Gap. [CFDA]

🇨🇳 L’Occitane to delist from Hong Kong Stock Exchange. The Luxembourg-based skincare conglomerate has won over enough minority shareholders to succeed in its long campaign to re-privatise. The French-founded firm, which has been listed on the Hong Kong exchange since 2010, owns the brands like Sol de Janiero and Elemis as well as its namesake line. [BoF]

🇮🇳 Indian actor Akshay Kumar invests in Fashion Entrepreneur Fund. The Bollywood actor has teamed up with RJ Corp chairman Ravi Jaipuria to invest in the fund which funds early-stage investments and mentorship for fashion entrepreneurs. With an overall corpus of $3 million, the fund was stablished by entrepreneurs Sanjay Nigam and Vagish Pathak and counts Karan Johar, Gaurav Dalmia and Naveen Jindal as existing investors. [Economic Times]

🇨🇳 Prada to open large Hong Kong store after years of downsizing. The Italian brand is reportedly renting a two-floor 8,000-square-foot store in K11 Musea, its first major new store in the city since shuttering its flagship in Causeway Bay in 2020. The brand, which at its peak had nine outlets in the city, now operates six, according to its website. [BoF]

🇯🇵 Japanese fashion imports rise 6.9% in H1 2024. The country’s import of clothing and accessories increased by 6.9 percent to 1,686 billion yen ($11 billion), while the import of textile yarn and fabric fell by 1.3 percent during the first half of the year. Exports of textile yarn and fabric increased by 8.9 percent during the period. [Fibre2Fashion]

🇦🇺 Australia’s Adore Beauty appoints Sacha Laing as its new CEO. The pureplay online retailer selling over 270 beauty brands has hired the former head of youth fashion retailer General Pants Co. Laing, an industry veteran and former David Jones executive, will take over starting Oct. 1 succeeding Tamalin Morton. [Australian Financial Review]

🇮🇳 Indian court restrains local firms from using Adidas trademarks. The Delhi High Court has ruled that India-based firms Adidas Weaving Mills, Adidas Textile Industries and Adidas Merchandise must desist from manufacturing, trading, selling, or dealing in textile goods under “Adidas” or other trademarks deceptively similar to those of Adidas AG, the global German sportswear brand. [Economic Times]

🇨🇳 Dolce & Gabbana taps Susan Fang for emerging designer programme. The Italian luxury brand has chosen the Canadian-Chinese designer based between London and Shanghai for its ‘Supported by Dolce & Gabbana’ initiative, which has previously supported Matty Bovan, Miss Sohee and others. [Jing Daily]

J.Crew is tying its brand to Olympic swimming without coming close to a Parisian pool.

The American retailer isn’t an official sponsor of the games, and lacks the technical expertise to outfit the athletes. Ralph Lauren has had the opening and closing ceremony looks on lockdown since 2008.

Instead, J.Crew is a prime example of a category of marketing that might be described as Olympics adjacent. Through its partnership with USA Swimming, the governing body that selects which athletes will represent the country at the games, the company is releasing swimsuits and trunks, but also hoodies, T-shirts and shorts bearing the organisation’s logo. Ads feature past and current Olympic swimmers, including Dare Rose, who will participate in the men’s 4 x 200 metre freestyle relay tournament Tuesday.

Unlike official licensees of the Olympics name including Nike, Kith, Skims and dozens of other consumer brands this year, J.Crew did not register and pay to be officially affiliated with the sporting event. Its association with USA Swimming is an indirect reference to the games — but one that allows the brand to benefit from its cultural cachet. As part of the collaboration, J.Crew made a donation to the philanthropic arm of the swimming organisation, which provides financial support to the athletes on the US national team and helps broaden community access to the sport.

It was an instant success; 80 percent of products sold on the day they were released in June, according to J.Crew chief executive Libby Wadle. That week, J.Crew’s website traffic saw a double-digit bump and a 10 percent spike in new customers year-on-year. The customer reception was so positive that Wadle and her design team went back to the drawing board to come up with a second batch of products under the partnership, which dropped a week before the Opening Ceremony.

“We were not planning on the second drop,” said Wadle. “The engagement around this campaign, frankly, since I’ve had this role, was beyond anything we’ve seen.”

J.Crew’s activation with USA Swimming is one of many collaborations the brand pursues every year. In recent months, it has released products with the likes of Maryam Nassir Zadeh, Anna October, jewellery brand Catbird and hit TV show The Bear. The current collection with Maryam Nassir Zadeh is the first time the New York label by its eponymous designer, Maryam Nassirzadeh, has participated in a collaboration.

These tie-ups are a vital part of J.Crew’s DNA, according to Wadle, and come in the form of partnerships with both brands and cultural entities. Other recent tie-ups include New York City Ballet, Los Angeles streetwear brand Union and HommeGirls.

“The way we think about [collaborations] today is how to bring important categories to life, and how to connect with culture and have it feel really authentic to the brand,” said Wadle.

Sports aren’t a natural fit for J.Crew, which is better known for its everyday casual wear inspired by the preppy New England aesthetic. This campaign marks the first time the company has tried to market itself through the lens of the Olympics.

A tie-up with a sporting organisation with connections to the Olympics was the answer. It also allowed J.Crew to showcase its swim products, one of its most lucrative categories.

“While we’re not a sportswear brand, we are a swimwear brand,” said Wadle, under whom the brand has sustained a turnaround effort since its bankruptcy in 2020. “And how can you ignore the fact that the most important event of summer is the Olympic Games?”

Wadle was able to leverage her personal network and connect with friend-of-a-friend Chris Brearton, the chairman of USA Swimming, earlier this year. Together, the brand and the swim agency formulated a campaign that highlights the personal stories of past Olympic swimmers as well as athletes who at the time may qualify for the 2024 games, Wadle said.

The resulting campaign can be viewed on J.Crew’s website and social media, as well as as ads on streaming platforms and out-of-home marketing channels.

“We definitely wanted to use this moment to be a very important brand moment, beyond product, and talk about J.Crew as a great American brand,” said Wadle.

Unexpected Success

The unplanned second batch of products was created from inventory that J.Crew already owned: blank tops, tanks, bags and shorts — including a best-selling cropped cashmere polo — over which the company was able to embroider a USA Swimming insignia.

“We went back to our design team immediately and asked, ‘How can we activate a second version that doesn’t feel like a restock?’” Wadle said.

The campaign with USA Swimming may be the first of its kind for J.Crew, but it won’t be the last.

“Certainly when we think about the future, there are probably opportunities in the winter,” Wadle said. “We’re a sweaters brand too.”

Tiffany & Co. and the Council of Fashion Designers of America are launching an award aimed at recognising and providing mentorship to American jewellery designers. Select participants, announced in the fall, will be invited to take part in “an immersive learning experience” with the LVMH-owned jewellery house, said a statement from Tiffany and the CFDA. In early 2025, one designer will be chosen for a year-long fellowship with Tiffany’s design department and receive a $50,000 prize.

The CFDA coordinates a number of awards and mentorship schemes for fashion and accessories designers; the Tiffany & Co x CFDA Jewellery Designer Award is its first prize focused exclusively on jewellery. The selection committee includes Alexandre Arnault, Tiffany & Co. executive vice president of product, communications and industrial; Frank Everett, Sotheby’s vice chairman of jewellery; model, activist and CFDA board member Bethann Hardison; actress Gabrielle Union and designer Jason Wu.

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