Plus, a look inside Nordstrom’s dynasty.
These are the stories making headlines in fashion on Wednesday.
What we can learn from a failed shoe startup
Shoes of Prey was a customizable footwear brand with a reported $115 million in annual sales in 2017, though in 2018 the brand closed its doors and liquidated, reportedly losing $35 million. Jodie Fox, the brand’s founder, attributes its decline to the negative effects of taking venture capital funding, the hidden costs of wholesale and the problems that arise when a brand relies too heavily on a concept that customers may not be ready to adopt. {Business of Fashion}
Instagram bans ‘plastic surgery’ effect filters
Instagram has removed its face filters that allow users to look like they have received plastic surgery. Spark AR, the company that creates the filters for the platform, says that it’s re-evaluating its “existing policies as they relate to well-being” and hope to encourage those who use Spark AR filters to have a positive experience. {Independent}
A look inside Nordstrom’s dynasty
Ahead of Nordstrom‘s flagship store opening in New York on Oct. 24, The New York Times explores the Nordstrom family dynasty and the committee of people who operate the mega-retailer. {The New York Times}
Nike’s CEO is stepping down
Mike Parker, Nike Inc.’s long-time chief executive officer, will step down from the company next year, with former eBay CEO John Donahoe set to replace him. Donahoe, who has been on Nike’s board since 2014, will be in charge of strengthening the sportswear company’s online strategy. {Business of Fashion}
Google’s counterfeit search problem
As Google tries to expand its advertising domain to generate more commerce, the issue of counterfeiting has become a major problem for brands. The issue for many of them is that when Googling their companies, counterfeit listing via fake websites and marketplaces often turns up. This problem could have a large impact on its brand perception as it continues to control other parts of its online experience. {Modern Retail}
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Source: Fashionista.com
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