Must Read: H&M to Close Down Cheap Monday Brand, Amazon Saw Biggest Shopping Day in History on Cyber Monday
Plus, Goop teamed up with Universal Standard on a size-inclusive capsule.
These are the stories making headlines in fashion on Tuesday.
H&M to close down Cheap Monday brand
H&M announced Tuesday that it is closing down its struggling low-priced skinny jean label Cheap Monday. H&M said the independent brand has a traditional wholesale business model, which has faced major challenges due to shifts in the fashion industry. "We need to constantly develop our business and what we choose to invest in," said Anna Attemark, head of new business at the H&M group, in an official press statement. "We see very good opportunities and great potential for all of the other brands within New Business, which all are developing positively both digitally as well as through physical stores." {Fashionista inbox}
Amazon saw biggest shopping day in history on Cyber Monday
Amazon really clicked with consumers on Cyber Monday, with the e-tail giant reporting that more products were ordered worldwide on the annual shopping holiday than any other day. What's more, on the five days starting with Thanksgiving and continuing through Cyber Monday, customers purchased millions more products than in the same period last year. After all was said and done, Amazon said shoppers ordered more than 18 million toys and 13 million fashion items on Black Friday and Cyber Monday combined. {Fashionista inbox}
Goop teamed up with Universal Standard on a size-inclusive capsule
Goop, the purveyor of jade eggs and expensive smoothies, partnered with the size-inclusive clothing company Universal Standard on a capsule collection, which launches Tuesday. The range spans sizes 00 to 40 and includes a tuxedo jacket and trousers, a dress, a jumpsuit and a peacoat. {Business of Fashion}
Cyber Monday sales hit $7.9 billion
According to Adobe Analytics, which tracks transactions for 80 of the top 100 internet retailers in the U.S. like Walmart and Amazon, Cyber Monday pulled in a record $7.9 billion in online sales, up 19.3 percent from last year. Similar to Adobe's Black Friday data, mobile transactions soared with 2.2 billion of Cyber Monday sales coming from smartphones alone. This was also the first time in Cyber Monday history that over half of the visits came from mobile devices. {Fashionista Inbox}
How Derek Blasberg is making YouTube fashionable
Derek Blasberg joined YouTube this summer as the head of the fashion and beauty partnerships division. Quartz caught up with Blasberg after a few months on the job to see what steps the social media butterfly is taking to make the video platform a go-to destination for brands and publications. In the interview, Blasberg touches on what YouTube is doing to court luxury labels and whether social media has rendered magazine editors obsolete. {Quartz, requires subscription}
Kering to partner with Michelle Obama for her French book tour
Kering will invite 250 female students to hear Michelle Obama speak during the French edition of her book tour. The event will take place at a venue in the western outskirts of Paris on Dec. 5. "I am extremely proud to provide partnership support for Michelle Obama's Paris appearance, as an illustration of the core values and beliefs we share in common," said François-Henri Pinault, chairman and chief executive officer of the luxury giant. {WWD}
Eckhaus Latta opens first store in New York
Eckhaus Latta, the bi-coastal label known for its art world inspirations, opened its first permanent brick-and-mortar store in New York on Tuesday. Located in the heart of Chinatown, it is the brand's second physical retail store — the first opened in Los Angeles in 2016. {Fashionista inbox}
