Daily LInks
1. Victoria’s Secret Sale to Sycamore Partners at Risk: Parent company L Brands’ deal to sell a 55% stake of the Victoria’s Secret lingerie and beauty divisions, along with the Pink business, to private equity firm Sycamore Partners was expected to close in 2020’s second quarter. “[There are] difficulties arising from the business uncertainties and contractual restrictions while the VS transaction is pending.” – Read More on WWD
2. Can T-Shirt Sales Save America’s Restaurants? With Covid-19 forcing many American restaurants to close, the food and beverage industry is hoping sales of shirts and hats can provide a much needed revenue stream. “Merch is one of our two only revenue sources right now.” – Read More on WSJ
3. Fashion labels cancel orders during coronavirus, garment workers go unpaid: More than 1 million garment workers in Bangladesh already have lost their jobs or have been furloughed because of order cancellations and the failure of buyers to pay for canceled shipments. – Read More on Fortune
4. How Christian Siriano turned his fashion house into a mask factory: During his first week of quarantine, Siriano had spent his free time working on a series of paintings. He sold the paintings and funnelled the proceeds into his mask operation—all the work he’s done so far has been pro bono. – Read More on the New Yorker
5. Fashion brands are shifting production to work-from-home clothes: “Loungewear, kind of suddenly, became the most important category for us, by far. So, we immediately began working to make sure it was supported. We’ve been shifting our supply chain, shifting our content and marketing, all of it to focus on the people who are sheltering and working at home.” – Read More on Glossy
6. Layoffs, store closures and tanking sales: How one premium retailer is navigating the current crisis. The San Francisco-based company has expanded since its founding in 2011. It currently has 40 full-time employees, brought in around $60 million in 2019 and has grown by bootstrapping and funding every major new product via a Kickstarter campaign. – Read More on Modern Retail
