Must Read: Prada And Adidas Announce Collaboration, The RealReal Responds to Counterfeit Investigations
Plus, anti-consumption designers don't want to be called sustainable.
These are the stories making headlines in fashion on Thursday.
Prada and Adidas announce collaboration
Prada and Adidas teased a collaborative "special project" on Instagram, but not much more is known about the partnership apart from the hashtag #PradaForAdidas. In the past, Adidas has leaned into the fashion sector through collaborations with Kanye's Yeezy line, Stella McCartney and more while Prada is equally meandering into sportswear by offering more sneakers and athletic styles. {Vogue}
The RealReal responds to counterfeit investigations
Julie Wainwright, founder and CEO of luxury consignment marketplace The RealReal, responded to claims that it sells counterfeit items. On Twitter, Wainwright pledged to customers that the team is determined to ensure authentic products, but is not always perfect, and told customers to send any concerning items back. The RealReal was previously found to have inexperienced hourly copywriters, rather than authenticators, verifying items. {Business of Fashion}
Anti-consumption designers don't want to be called sustainable
Eco-conscious indie labels are frustrated with the word 'sustainable.' For one, the word has been co-opted by megabrands as a marketing ploy to sell more product. The eco-conscious designers say that sustainable fashion doesn't exist and that multi-billion dollar brands preaching this should be certified. Instead, these smaller brands are producing less and encouraging consumers to buy less. {Business of Fashion}
Capri Holdings' multi-brand strategy called into question
Capri Holdings, parent group of Michael Kors, Versace and Jimmy Choo, has seen shares decline by more than 16% this year. The luxury fashion group reported earnings-per-share of $1.16 million, while an analyst forecast predicated $1.25 million. Capri's core brand Michael Kors declined 4.2% in revenue, leading analysts to rethink the potential of multi-brand conglomerates. {Vogue Business}
Instagram's new checkout feature drives sales for influencer collaborations
Brands are taking advantage of Instagram's new checkout feature to bring point of sale as close to where consumers discover and browse for products as possible. This is especially beneficial for influencer collaborations. {Glossy}
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