10 news stories
The news desk at WGSN handles over 175 stories per week. That's about 10,000 in the last 10 years. We launched in 98 with some world-shattering news – a credit crunch when Asian retail sales (and credit ratings) were in freefall. Here's our top 10 of the stories since then.
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WGSN News December 7 19991999 - Acquisition mania creates luxury fashion supergroups
Giant groups formed as small-but-potentially-big brands were snapped up. LVMH, Prada and Gucci were the most ambitious buyers, while HdP and Fin.part failed to achieve global status.
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WGSN News May 18 20002000 - Dotcom bust sees apparel start-ups crashing
Reality hit home when optimistic investments in e-tailers proved premature. With high delivery shares, slow internet speeds and sparse choice, the e-tail boom proved to be slower than expected. For example, the imprudent £100m investment in boo.com staggered under the weight of technical issues, lack of brand names and poor management.
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WGSN News November 29 20012001 - 9/11 tragedy stops New York Fashion Week
The attacks on New York's World Trade Center during New York Fashion Week shocked the world and slowed customer spending. For months after the attacks, many consumers were fearful to shop in popular malls and major cities.
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WGSN News June 28 20022002 - Athletic shoes bounce back
Though the industry feared for the US sneaker industry, popular retro styles, technical innovation, and the launch of several major flagships helped create a cult following in brands such as Nike, Reebok and adidas.
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WGSN News November 26 20032003 - Department store doom
As discounters and speciality stores remodelled post-9/11, many department stores got lost in the dust. Though consumers began to shop elsewhere and some large department stores closed, chains like Kohl's, John Lewis, Saks Fifth Avenue, David Jones, Lotte and Coin showed survival.
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WGSN News November 17 20042004 - Designer deals drive boost retail sales
Designer link-ups - such as Isaac Mizrahi's range for Target - set the stage for high/low collaborations, but it wasn't until H&M hooked up with Karl Lagerfeld that the industry trend blew up. Other memorable collaborations include Stella McCartney and Roberto Cavalli for H&M, along with Topshop's stints with Celia Birtwell and Kate Moss.
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WGSN News June 17 20052005 - China: world's top apparel maker
After China joined the WTO, governments panicked over the country's free access to world trade. As its consumers got richer, luxury and mid-market giants raced to open stores in its big cities. Three years later, China is the world's main manufacturing hub and is predicted to be the world's largest luxury goods market within the next 10 years.
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WGSN News December 29 20062006 - US online sales top $100bn
Online retail moved from niche status to the must-use channel for most consumers. Wider choice, free delivery, internet security and broadband created a jump of 24% during the first 42 days of the Holiday season in the US and fashion was among the favourite categories.
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WGSN News November 8 20072007 - Fashion goes sustainable
Trade show organisers, retailers, manufacturers and consumers all became obsessed with eco. As the fashion world realised consumers prefer to spend money on goods that can claim to be organic, eco-friendly, cruelty-free or fair trade, the market boomed. For example, the launch of Anya Hindmarch's eco-friendly shopping bag caused a near riot in Hong Kong, as people fought to go green in style.
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WGSN News June 10 20082008 - US credit crunch: fashion spending slows, stores close
Here we go again. What was predicted as a short-term crunch in 2007 continues this year as retailers close, companies fold and private equity deals find it almost impossible to raise funds. Rising energy prices and higher costs result in consumers cutting overall spending.
