Booming Black Friday
Black Friday shopping broke records, according to the National Retail Federation. In a Dec. 3 conference call, the Washington, D.C., retail trade group said that 189.6 million U.S. consumers shopped during the Black Friday Weekend.
In what is being called the biggest deal in the history of the luxury-goods market, Paris-headquartered LVMH Moët Hennessy Louis Vuitton SE acquired Tiffany & Co. for $16.2 billion, it was announced Nov. 25.
After six years of running Agenda, Reed Exhibitions has sold the streetwear-focused trade show for an undisclosed amount to AZTQ Corp., a Toronto-headquartered show producer that started business in 2019.
Faux fur has enjoyed wide popularity during 2019, but it was a tough year for businesses working with real fur. California became the first state to ban the sale and manufacture of fur.
Los Angeles–headquartered Forever 21 was one of the architects of fast fashion, but, after three decades of growth, the family-run business, which enjoyed more than $3.4 billion in revenues in 2017, filed for Chapter 11 bankruptcy.
The digital-printing business has been a contender for more than a decade in the T-shirt industry, but in 2019 it started to become more dominant. Digital printers made by companies such as Kornit Digital, Epson and Roland DGA can be used to make increasingly complex images on T-shirts, hoodies and other imprintable clothing.
Barneys New York served as an influential American retailer since the 1920s, but in 2019 it went bankrupt and its remaining five stores started a liquidation process.
Action-sports brand Volcom is back to making deals and producing new styles. The Costa Mesa, Calif.–headquartered brand made headlines in November when it announced that it would outfit the U.S. snowboarding team for the 2022 Winter Olympics in Beijing, but in mid-2019 Volcom started a new chapter in its more than 25-year history.
Observing its 50th anniversary during 2019, Gap Inc. experienced a year of major change for one of the biggest specialty retailers in the world.
One of the most familiar sights in the California landscape is the mall, but Long Beach, Calif., despite being the seventh largest city in the state, has been traditionally “under-malled.”