Here are some of this week’s news and features highlights handpicked by TheIndustry.fashion team.
TikTok Shop raises sellers fees as it plans to build the “marketplace of the future
TikTok has this week revealed that it will be introducing an increase in base commission fees from 5% to 9% for UK sellers as it attempts to build the “marketplace of the future”. Sellers will be able to reduce those fees by creating a target number of TikTok LIVE or shoppable videos, preferably with the help of an established TikTok Creator. A co-funded free shipping model has also been introduced to enable more sellers to offer free shipping.
The social media platform says it will invest the monies made from the increased fees in improving customer experience on the app and in operational efficiencies for sellers. This is the clearest signal yet that TikTok sees itself more as a shopping platform (a growing number of brands are allowing customers to check out their purchases without leaving the app) than a social media platform. Furthermore, it also underscores the growing importance of live shopping events, which (whether you use TikTok or not to execute them) are one of the most important new revenue and engagement streams for brands and retailers.
If brands aren’t looking at live shopping (and some of my favourite examples of it are when the events take place from a brand’s store and their own staff are the sellers), then this news should encourage them at the very least to take a look.
Lauretta Roberts, Co-founder, CEO and Editor-in-Chief.
Nobody’s Child to open third permanent London store in Covent Garden
Now, I didn’t just select this news because I’m a big fan of Nobody’s Child. Well, maybe that has something to do with it… but it also marks another milestone moment for the business as it prepares to open its third permanent store in London.
The womenswear brand is opening at 3 Neal Street in Covent Garden tomorrow, 10 August, adding to its existing locations at 46 Carnaby Street and 63 Brushfield Street in Spitalfields. It also currently has a pop-up store at Westfield Stratford City. In fact, it was another pop-up at Long Acre last year that established Covent Garden as the “ideal location” for its third permanent site, according to Nobody’s Child CEO Jody Plows.
From new store openings to retail partnerships with the likes of Marks & Spencer, John Lewis and ASOS, it’s great to see this responsibly-led brand driving growth – not just for the sake of the business but also the prettiness of my wardrobe.
Sophie Smith, News Editor & Senior Writer.
Gymshark appoints Whitney Simmons as first Creative Director for Adapt collection
Another shrewd move was reported this week from Gymshark, which has now taken on fitness enthusiast and influencer Whitney Simmons as the first Creative Director of its Adapt range – one of the brand’s biggest and most successful women’s lines. While Simmons has partnered with Gymshark for some eight years already, and has brought out five collaboration collections in that time, this marks another significant leap of faith as she is properly brought into the fold.
An absolute social media sensation, with 3.9 million Instagram followers and 2.4 million subscribers for her YouTube channel – complete with work outs and special advice, Simmons seems like the perfect appointment for Gymshark to continue its stratospheric rise in the fitness and gymwear sector. What’s more, the credibility is there, as Simmons admitted: “Adapt has been my go-to in the gym for years, and it’s a collection that I totally believe in.”
It follows on from February’s clever appointment of well known body builder David Laid as Gymshark’s first ever Creative Director of Lifting, once again emphasising the brand’s authority in the sector – as did the ‘We Do Gym’ campaign in June.
Speaking about Laid’s appointment, Gymshark Founder Ben Francis said in an interview with us last month: “Lifting is at our core. That’s the centre of our brand and having him, as a famous bodybuilder, supports us on that journey and helps us to fine-tune our product. It’s been great.” You get the feeling he’ll be saying the same about Simmons any time soon.
Tom Bottomley, Contributing Editor.
Authentic Brands ‘secures future’ of Ted Baker in US and Canada with new partners
Back in March, the company behind Ted Baker’s UK business, No Ordinary Designer Label Limited (NODL), was placed into administration. This news was another huge blow to the British high street.
However, the future of Ted Baker, which lies in Authentic Brands’ hands, has been secured this week thanks to ABG’s new licensing deal. Three new licensees for the Ted Baker brand in the US and Canada have been named. ABG said this would “secure its future” in those markets; meanwhile, the UK arm of the business remains in administration with plans proposed to close its remaining UK stores.
The US brand group, which acquired UK fashion stalwart Ted Baker in August 2022, has said that United Legwear & Apparel Co. (ULAC), BCI Brands and Peerless Clothing are its new “foundational licensing partners” for the North American region. Not all hope is lost for Ted Baker just yet, although it has certainly left a gaping hole on the British high street.
Chloé Burney, Senior News & Features Writer.
