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Balenciaga Will Stream Runway Show in 360° Virtual Reality [Fashionista]
For his debut show as creative director of Balenciaga, Demna Gvasalia is pulling out all the stops — beginning by filming the presentation in 360° virtual reality. Fans will be able to get the full runway experience during Sunday’s show (2:30 a.m. PST) with a custom Balenciaga app which is compatible with VR headsets and is available on both iPhone and Android devices. The show will also be live-streamed on the live.balenciaga.com site, for those willing to put up with regular old 2D.
Target’s Latest Collab Is With Marimekko [Target]
Target’s next collaboration is with Finnish design house Marimekko. The retailer will roll out more than 200 products, including apparel, accessories, home goods and more, featuring Marimekko’s bold patterns, beginning on April 17. Most products are priced under $50, however they go up to $499 for larger items including a printed paddleboard.
Sports Authority Files for Bankruptcy [CNN Money]
Sports Authority filed for bankruptcy early on Wednesday after failing to repay its $20 million debt. The company also revealed that it would be closing 140 of its underperforming stores within the next three months, nearly a third of its locations. The retailer has arranged to borrow as much as $595 million to operate while in bankruptcy, but it is likely that they will have to find a buyer in order to repay those debts. Analysts blame the rise of online shopping and Sports Authority’s failure to adapt as a primary cause of their current predicament.
Abercrombie & Fitch Sales Are Up [Forbes]
While many teen retailers of yore struggle to stay relevant (think: American Eagle, Aeropostale, American Apparel, etc.), Abercrombie & Fitch is giving them hope. The company, which includes Hollister Co., surprised investors by posting same-store sales gains for the first time in nearly three years. It appears their turnaround strategy, which included the ban of sexualized marketing and a reduction in holiday promotions, as well as a more on-trend fashion offering, is finally paying off.
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