These are the stories making headlines in fashion on Thursday.
PVH Corp. To Cut 4% of Global Workforce
PVH Corp., the parent company of Calvin Klein and Tommy Hilfiger, is reducing its global workforce by about 4%, CEO Stefan Larsson said in a memo sent to employees Thursday morning. The approximately 1,040 affected roles primarily include non-consumer-facing positions, which make up around 12% of its office-based associates. {WWD/paywalled}
Burberry Revenue Rises 6% in First Half
Burberry Group Plc reported its first half results on Thursday, which revealed a 6% rise in revenue to £1.1 billion ($1.46 billion). With comparable retail sales up 4% in both H1 and Q2, the British fashion house has now logged five consecutive quarters of growth. Its wholesale revenue also spiked by 17%, placing it ahead of its guidance. {Burberry}
Handcrafted Campaigns Are Dominating Fashion’s Holiday Marketing
As consumers grow wary of AI, fashion brands are increasingly embracing handcrafted holiday campaigns, as seen in Prada’s hand-drawn animations and a Levi’s advertisement tapping into claymation. Many brands are also emphasizing behind-the-scenes content to show how the holiday campaigns came together and build consumer trust. Dior’s holiday film, “Christian Dior’s Night in Color,” faced AI accusations which demonstrated a growing appetite among consumers for transparency. {Business of Fashion/paywalled}
Does Influencer Gifting Still Work?
Influencer gifting is now a standard practice, with the typical brand sending 350% more gifts a year than it did in 2022, according to ShopMy. But now that algorithms reward reach beyond a creator’s followers, how can brands evolve their seeding strategies? Rather than gifting product to a lot of influencers, the brands cutting through are focusing on a handful of the right names, meaning those creating a measurable impact for the brand. {Vogue Business/paywalled}
Coach and Ralph Lauren Resist China Slowdown
Retail demand in China hasn’t disappeared, it’s become more selective as younger Chinese shoppers are less likely to splurge on luxury labels. For example, Coach and Ralph Lauren Corp. saw China sales jump more than 30% for the quarter ending in September, which was also the same period when labels from LVMH and Kering reported double-digit declines in China sales. In China, Coach’s appeal comes from its specialization in leather and heritage, while Ralph Lauren sells a clear lifestyle image. {Bloomberg/paywalled}
