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News

Hurr Collective, the UK-based peer-to-peer wardrobe rental platform, has taken a big step forward and has opened the first rental pop-up, which is being hosted by Selfridges.

 

The company, which won the London Luxury Think Tank Sustainable Startup award, opened its new pop-up concession on Monday in the Contemporary Studio on the third floor and will be there for six months.



It said the link-up “will introduce Selfridges shoppers to the growing world of fashion rental, a market that is expected to reach a value of $1.96bn by 2023”.

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A project aiming to tackle the issue of single use plastic in the beauty industry will roll out thousands of cosmetics vending machines across busy high streets, retail stores, university campuses, train stations and garden centres.

 

The initiative is led by Beauty Kitchen, which is on a mission to create the most effective, natural and sustainable beauty products in the world.



Starting from April 2020, the brand’s refill stations will launch in 1,000 UK locations, helping save over 100 million single use plastic bottles. The roll out is expected to be completed in 2022.

 

Using the touch screen operated machines, consumers will be able to buy the brand’s shampoo, conditioner, body wash, hand wash and facial cleanser, which are organic, vegan, microplastic free and Leaping Bunny Certified.

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Fashion and beauty search platform Stylight has released a report tracking the most popular cosmetics products over the last six months, revealing strong performances from Mac and Estée Lauder in lipstick, foundation and skincare.

 

Stylight’s report highlighted some general pricing trends, identifying a high-to-low approach in shoppers’ behaviour, leading to a “varied mix of high-end products and drugstore favourites” at the top of the board in most categories.


 
The study provided the average price of the top 150 products in each category. The average price for the most popular lipsticks came to $27.54, while the figure was $37.16 in the foundation category and $68.22 for skincare. Meanwhile, prices averaged out at $14.22 for nail polish and $102.76 for perfume, which, unsurprisingly, was the most expensive category overall.


 
Founded in 2008, Stylight allows users in 16 countries to compare the prices of more than 27 million products from 1,300 online shops from around the world.

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Diane von Furstenberg is entering the clothing rental market with the launch of DVF Link, a new in-house clothing subscription service. 

 

Available at dvflink.com, DVF Link is an monthly online subscription rental service that gives users access to hundreds of the brand's styles, excluding shoes and accessories, for one flat fee. Users can select four pieces per box, and subscriptions include unlimited exchanges and complimentary shipping both ways. 

 

According to an Allied Market Research report, the global online clothing rental market was valued at $1.013bn in 2017, and is estimated to reach $ 1.856bn by 2023, registering a CAGR of 10.6% from 2017 to 2023.

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Last year’s extremely tough trading conditions saw 55 retail chiefs head for the door, with fashion and luxury experiencing more CEO changes than any other category. 

 

According to a report from Korn Ferry, the global organisational consulting firm, CEO changes in the retail industry surged by 25% in 2019, as companies’ response to the challenges was to seek out new leadership styles. This is the highest churn since 2012, when 56 retail chiefs were ousted and replaced.



The increase in turnover occurred in one of the most difficult years for the retail sector in over a decade. Wavering consumer confidence, coupled with Brexit uncertainty, a general election and rising business rates costs, combined to create an ‘annus horribilis’ for the sector.

 

The research reveals retailers not only opted for fresh talent, but also favoured some functional backgrounds over others. In fact, companies named fewer CEOs with commercial/sales or buying and merchandising backgrounds than in 2018. Instead, the number of retail CEOs with financial experience rose from 15% to 21%, as retailers shifted their focus towards strong financial management, debt restructuring and management of investor relations.

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Patchwork Health, a London, Manchester and Liverpool-based healthtech startup, has raised £3m in funding.

The round was led by Praetura Ventures (£1.9m) with participation from BMJ, the publisher behind The BMJ, and some existing angel investors. In conjunction with the funding, David Foreman, managing director of Praetura Ventures, will also join the Patchwork board as a non-executive director.

Founded by NHS doctors Anas Nader and Jing Ouyang in 2016, Patchwork Health provided a healthtech platform to enable hospitals to fill vacant shifts and to bring flexible working to thousands of clinicians. The company’s technology focuses on enabling NHS Trusts to recruit temporary staff. Through tailored portals for NHS Trusts and an app for clinicians, Patchwork is able to drive up the number of clinicians booking shifts directly with their hospital.

More than 10,000 clinicians across over 30 hospitals already use the Patchwork app, with more than 1 million shift hours booked since launch.

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Medloop, the digital health startup that aims to shift the paradigm of care delivery from reactive to preventative, has raised €6 million in investment to enhance its product offering and continue expansion across Germany and the UK. The investment was made by Kamet Ventures and AXA.

 

Founded in 2018 by Berlin-based entrepreneur Shishir Singhee, Medloop offers thousands of patients intuitive self-service features that enable them to navigate their own care-pathway. The app provides other patient services including online appointment bookings, electronic medical results, prescription refills, as well as an interactive chat function.

 

Medical practices in Germany use the Medloop doctor system to run their entire practice, offering all needed functionality from the online waiting room to quarterly billing.

 

The investment from Kamet and AXA will be used to leverage the current infrastructure of Medloop and expand its product offering to help doctors deliver preventative care in Germany and the UK.

 

To this end, Medloop is developing an evidence-based medical rule engine embedded on the Electronic Medical Record (EMR) of patients. This tool will enable doctors to obtain a risk-stratified view of their patient population, and proactively optimise patient care to improve outcomes.

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Following the success of its Store of the Future fitting room, Chanel are looking to expand it into three more stores for Q1/Q2 of 2020. The state-of-the-art high tech dressing room was created for Chanel by Farfetch and designed to create a seamless meeting of high-tech journey, boutique visit and personal shopper.

 

“This was a very big moment for Farfetch, as Chanel is an amazing brand with which to work. We have similar visions. Making seamless technology to enhance the customer journey, and harnessing the power of the fashion advisors,” said Sandrine Deveaux, head of Farfetch’s retail innovation business unit, Store of the Future. 

 

The project offers all eight Chanel collections, except haute couture, and includes two ready-to-wear seasons; two pre-colls; Métiers d’Art; Cruise; Coco Beach and Coco Neige, for skiing and après-ski and allowing customers to mix ideas from multiple shows and seasons. Fashion Advisors are also able to have direct access to Chanel’s stock, so know whether any item is available that day.

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Isabella Oliver, the UK-based maternity brand, has launched a rental programme in a bid to increase the longevity of maternity clothing and encourage customers to ‘go greener’.

 

With more and more high street brands entering the maternity sector, expectant mums have more clothing options than ever before. But maternity wear has a short lifespan, with most women wearing specialist stretchy jeans and other maternity pieces only from around 16 weeks into the pregnancy and until just a few week after giving birth, meaning maternity clothing is often not seen as worth spending a lot of money on.



To tackle this issue, Isabella Oliver is offering customers the option to rent clothing including partywear and key pregnancy essentials for a period of two weeks. Customers also have the option to buy the product outright and the concept does seem particularly well suited to the maternity sector.

 

Geoff van Sonsbeeck, co-founder and CEO of Isabella Oliver, said: “We are committed to reducing the environmental impact of clothing. Rental is just one of the ways in which we are developing a circular textile economy, eliminating the need for fast fashion and therefore reducing garments going to landfill.”

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Amazon has made history as the first brand in the world to be worth over $200 billion (£153bn), defending its position as the world’s most valuable brand for the third consecutive year.

 

According to the latest Brand Finance Global 500 ranking, launched at the World Economic Forum in Davos this week, Amazon’s brand value has now reached $220.8 billion, after growing by 18% compared to last year. 



This is over $60 billion more than Google and $80 billion more than Apple, the world’s second and third most valuable brands.

 

Microsoft, worth $117bn, and Samsung, worth $94.4bn, complete the top five. And while 44 retail brands feature in this year’s ranking, the first fashion name to appear is Nike, rising a spot to number 41 with a $34.7 billion value. Gucci moved up to spot 99 with a market value of $17.8 billion, and it was followed by Adidas at 109 and Louis Vuitton at 110. 


Target (114), Zara (No.128), and H&M (135) beat Chanel in market valuation, with the famous luxury house coming in at number 136. JD.com (142), Uniqlo (143), Hermes (154) and TJ Maxx (189) are also featured in the top 200 most valuable brands.



According to Brand Finance, the novelty of operating in the digital space is starting to wear off, with some online retailers losing brand value while bricks-and-mortar chains are making gains. This is demonstrated by Walmart, which jumped up three places to enter the top 10 once again after beefing up its digital strategy. The US retailer has recently launched Alphabots, robots that pick and pack online grocery orders at high speeds. 

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