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Industry News – August 23rd, 2016

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Curated fashion industry news links for Tuesday, August 23rd, 2016…

TARGET TERMINATES MAJOR SHEET SUPPLIER OVER LABELING – Home & Textiles Today
“Target informed vendors Friday morning that it has dropped a prominent home textiles vendor over Egyptian cotton labeling – warning it would follow suit with others should they make a similar mistake. Target alleges Welspun supplied it with sheets labeled as Egyptian cotton but constructed of non-Egyptian cotton.”

CAMUTO GROUP ACQUIRES MAJORITY OWNERSHIP OF SOLE SOCIETY – PR Newswire
“Camuto Group announces the acquisition of Sole Society. As part of Camuto Group’s focus on digital innovation, the company has acquired the majority stake in Sole Society with the strategy of enhancing category offerings and continuing to build on the strong accessories platform through extensions in apparel and other key classifications.”

MICHAEL KORS, RALPH LAUREN HIT HARD BY DISCOUNTING BINGE – TheFashionLaw
“As retailers rely more heavily on promotions to drive traffic, Michael Kors and Ralph Lauren have been two of the biggest victims. The brands were among the most heavily discounted at upscale U.S. retailers in recent months, according to Edited, a company that crunches data for the fashion industry.That supports the view of Michael Kors Chief Executive Officer John Idol, who said promotions reached an all-time high last quarter. Fashion brands and retailers slashed prices on products by as much as 80 percent in May, June and July, Edited found.”

THIS GRAPHIC LOGO TEE IS ABOUT TO BE EVERYWHERE – GQ
“If you think that graphic T-shirts are just for kids, think again. They’re hands down one of the biggest things going in fashion, something that both popular skate brands and high-end luxury houses have tackled, and their popularity only seems to be growing as we look to fall and winter.”

U.S. TRAFFIC TO OUTLETS HITS TWO-YEAR HIGH, OUTPACING SLUGGISH MALL TRENDS – FootwearNews
“Millennial shoppers continue to lead the bargain-hunting bunch, pushing U.S. outlet traffic to its two-year peak, according to the latest data from Cowen and Co. Outlet visitation data from the Cowen Consumer Tracker Survey indicates year-over-year gains in both June and July from U.S. consumers along with a “big acceleration” since March, led by the millennial herd.”

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