Universal Standard: Empowering Every Body with Women-Led Duo in D2C Retail Fashion

Have you ever come across a gorgeous dress, the perfect-looking jeans, the right colored top, the perfect design, at the right price and affordability, but unfortunately realized that it doesn’t fit you?! Ugh, the frustration and annoyance of being in a situation like that passes through your body and makes you walk out of the store in disappointment and sadness. It was just perfect and you almost had it, but alas! Many young girls, teens, young women adults, and the older generation, find it difficult to find the right size and fit by the few companies that promote a size-inclusive clothing brand. A Size 6 in one store can be sizes lower or higher in another store. One might not even have their size available! Or, they might be the perfect size, but just not the right fit at all. No wonder most women take quality time in physically trying out clothes in-store so that they are satisfied with the right size as well as the right fit. Some women even sacrifice and compromise to “fit into” the wrongly sized clothing, which can be quite unhealthy if done with self-harming intentions and actions. 

Every one of us is physically different in shape and size at different stages of our lives. Therefore, finding a clothing brand and platform that manufactures, designs, and sells clothes for all sizes while encouraging women to embrace their shape and size beautifully and graciously will surely receive positive reactions and reviews from customers. Plus-size fashion empowerment is an innovative and customer-centric strategy in the fashion retail industry that sells specifically curated and size-inclusive clothing wear, it attracts customers and creates a loyal customer base for as long as the goal is to have a customer-centric focus instilled within its pillars. Therefore the right size and fit are essential for people’s good mental and physical health as well as the impact and recognition of the brand’s mission itself. 

Therefore in this article, we will be covering the story and journey of a company established in The United States of America, that specializes in being the world’s most size-inclusive brand. Led by women duo – Alexandra Waldman and Polina Veksler, Universal Standard Fashion (US) was founded to empower women to embrace their bodies by selling premium and high-quality material, style, design, and fit. 

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Alexandra Waldman and Polina Veksler – Co-Founders at Universal Standard:

Alexandra Waldman was the Co-Founder and Creative Director at Universal Standard (US). Founded the company in the year 2015 alongside her friend – Polina Veksler – the current Co-Founder and Chief Executive Officer, the trailblazing, inspiring, models,  and entrepreneurial power duo have broken barriers and come a long way since in accomplishing their goals. 

“We believe this is the right way to express sizing in the apparel industry because it actually represents the American woman as she is, and we hope that other brands consider adopting this sizing as well.” – Alexandra Waldman, Former CEO and Late Co-Founder of Universal Standards. 

Alexandra Waldman completed her formal education with a Bachelor of Arts Degree in English Literature and Comparative Linguistics. After her degree and before her co-founding Universal Standard, Alexandra had job opportunities in different roles and sectors in the industry all of which covered Fashion, Arts, Entertainment, Research Publishing, and being the Managing Director and Global Head of Marketing and Public Affairs. With a set of diverse skills, talent, and experience working alongside different people, Alexandra knew her goals were leading her on a different path where beauty standards in the fashion industry and the world had to be changed, redefined, and revamped. 

“We believe in Fashion Freedom for all of US. As We Are.”

With hopes of making the world a better place to live in, Polina Veksler partnered up with Alexandra Waldman and co-founded Universal Standards. To create a fashion brand advocating women’s clothing wear that is more accessible in style, size, quality, and fit, the two co-founders set together on their path to finding the best factory in Peru that would manufacture their designs and pieces that would bring their ideas and vision to fruition. Polina Veksler completed her formal education in Accounting through a bachelor’s degree at The University of Florida, after which she went on to complete her Master’s in Accounting from the same university. Being an Investment Banking Analyst to a Senior Strategy Manager, and from Investment Director to Co-Founder of Universal Standards, Polina too has come a long way in her life’s journey until finding her shared dream and goal with Alexandra. 

Universal Standards – US:

Co-founded in the year 2015 by Alexandra Waldman and Polina Veksler, is a women-led fashion brand – Universal Standards, which has its headquarters established in Greater New York City, in the USA. Universal Standards is a DTC fashion and apparel retail brand committed to “pushing boundaries, leading with innovation, questioning established norms, being radically authentic, and banding together to build the future”. Universal Standard is the World’s Most Size-Inclusive brand, where “Style is the only Filter”. The brand is famous and recognized for its manufacturing and selling of Sizes 00-40 as “Fashion For All Of US. As We Are”.

To embrace inclusion and empower women, as well as to break down beauty standard barriers and norms, Universal Standard is here to “change everything and to unite the divided”. The fabrics and materials that are used in their clothing are made of “Premium-Quality Peruvian Cotton Luxurious Italian Wool, Sumptuous French Satin-Black Crepe, Expertly Engineered Denim, and Signature Stretch Linen”. The materials are sourced and manufactured in a Peruvian factory in Peru and the clothes are made to last. The clothes that are finally stitched are wear-tested by the brand to make sure that the perfect fit and size are engineered carefully and meticulously. 

Universal Standards being an inclusive fashion retailer has collaborated with many partners since its establishment such as Danielle Brooks in 2017, J. Crew, and Goop in 2018, and was soon named one of Fast Company’s “Most Innovative Companies”. In 2019, Rodarte and Adidas were collaborated with by the brand, and was also when their children’s book – “What Could Fashion Look Like If It Included All Of Us?” was published.

Visit More : https://thebusinessmagnate.com/universal-standard-empowering-every-body-with-women-led-duo-in-d2c-retail-fashion/

Abercrombie & Fitch Reports Robust Holiday Quarter Performance

Impressive Sales Surge and Profit Growth

Abercrombie & Fitch, the renowned apparel retailer, disclosed on Wednesday a remarkable 21% increase in holiday-quarter sales, coupled with a surge in profits attributed to elevated prices and reduced raw material costs. The company’s net income for the three-month period ending February 3 soared to $158.4 million, or $2.97 per share, compared to $38.33 million, or 75 cents per share, a year earlier. Sales for the quarter reached $1.45 billion, a significant uptick from the $1.2 billion recorded in the corresponding period the previous year.

Positive Outlook Spurs Market Enthusiasm

Anticipating continued growth, Abercrombie & Fitch provided sales guidance that exceeded expectations. The company foresees sales in the current quarter rising by a low double-digit percentage, outpacing estimates of 7.2%. For the entire year, Abercrombie projects sales growth between 4% and 6%, surpassing estimates of 4%.

Strategic Leadership and Financial Discipline Drive Results

CEO Fran Horowitz attributed the robust fourth-quarter performance to growth “across regions and brands.” Abercrombie brands experienced a 35% increase in net sales, sustaining a multi-quarter growth trend, while Hollister brands achieved a 9% growth, marking a third consecutive quarter of sales expansion. Horowitz highlighted the company’s disciplined financial approach, delivering a year-over-year fourth-quarter operating margin expansion of 800 basis points, reaching 15.3%.

Transformative Journey and Future Initiatives

Abercrombie & Fitch, once synonymous with heavily perfumed mall stores and shirtless models, has successfully transformed into an inclusive lifestyle brand. Under the leadership of Fran Horowitz, the company has embraced social media marketing and influencers to captivate a new generation of customers. The stock, trading around $23 a share at the start of 2023, surged nearly 283% to $88 by year-end. In 2024, the stock has already climbed about 59%, reflecting Wall Street’s approval of the brand’s evolution.

Looking ahead, Abercrombie & Fitch aims to expand its global customer base, with a long-term goal of reaching $5 billion in global annual sales. Fiscal 2023 witnessed the company’s revenue nearing this ambitious target, reaching $4.28 billion. As Abercrombie prepares to navigate tougher prior-year comparisons in the upcoming quarters, optimism prevails, supported by the brand’s resilience and adaptability.

Investors will keenly observe Abercrombie’s performance in the spring and summer seasons, gauging its ability to sustain growth amid consumer cautiousness, particularly in discretionary purchases like clothing. The company’s strategic initiatives and transformative journey position it favorably in the dynamic retail landscape.

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Challenges with Pricing for the High-End Fashion Industry in the US

Written By: Gargi Sarma  Introduction:

Figure 1: Ranking of Personal Luxury Brands (2022 & 2023)

From Figure 1, we can observe that the year 2023 saw the second consecutive year with a fall in the aggregate RepTrak reputation score. It fell for the first time since 2018, falling from 74.9 in 2021 to 74.2 in 2022. Additionally, the average dropped to 73.2 in 2023.

Recognizing the Dynamics of the Market:

Figure 2: BAC US Card Spending Data Growth For Luxury Fashion, YoY

Figure 3: Luxury Fashion Brands - The Fashion Pyramid (Source: TRF / Strategy Consulting, 2020)

Production Costs: Superior materials, expert craftsmanship, and cutting-edge design methods are frequently substantially invested in by luxury firms. Chanel's renowned tweed jackets, for instance, are expensive because they require fine fabrics and meticulous handwork.

Positioning and Brand Image: To support their high prices, luxury brands need to carefully manage their image. To ensure that its items keep their prized status, Hermes, for example, limits manufacturing and distribution to maintain its exclusivity.

Trends and Seasons: The difficulty for high-end fashion manufacturers is striking a balance between trendy looks and classic appeal. Balenciaga's Triple S sneakers, for instance, sold out quickly at first because of their strong demand, but sustaining their premium cost needed rigorous control of supply and demand dynamics.

Figure 4: Expected Changes to US Luxury Shoppers' Spending Habits Over the Next 12 Months, 2022

Challenges Faced by High-End Fashion Brands:

High-end fashion pricing in the US faces several challenges due to various factors, including consumer perception, market competition, production costs, and economic conditions. Here are some challenges, along with examples:

Perceived Value vs. Production Cost: High-end fashion brands often struggle to justify their high prices to consumers who may not fully understand the production process and quality of materials. Balancing the perceived value with the actual production cost is crucial. Example: A luxury brand may use high-quality materials and skilled craftsmanship to produce a handbag, driving up the production cost. However, consumers may question the high price if they perceive similar-looking handbags from other brands as being of comparable quality.

Market Saturation and Competition: The high-end fashion market in the US is saturated with numerous brands vying for consumer attention. Intense competition can lead to pricing pressures as brands attempt to differentiate themselves while maintaining profitability. Example: A new high-end sneaker brand enters the market with innovative designs and premium materials. However, established luxury sneaker brands already dominate the market, making it challenging for the new entrant to command premium prices without a strong brand reputation.

Brand Image and Prestige: High-end fashion brands rely heavily on their brand image and prestige to justify premium pricing. Maintaining exclusivity while reaching a broader consumer base presents a delicate balancing act for these brands. Example: Chanel, known for its iconic handbags and timeless designs, carefully controls its distribution channels to maintain exclusivity. However, the brand also faces pressure to appeal to younger consumers without diluting its luxury image.

Figure 5: Factors Influencing US Luxury Shoppers' Luxury Purchases, 2022

Economic Factors and Consumer Behavior: Economic downturns and fluctuations in consumer spending can significantly impact high-end fashion pricing. Brands must navigate shifting consumer preferences and adapt their pricing strategies accordingly. Example: During a recession, consumers may prioritize essential purchases over luxury items, leading to decreased demand for high-end fashion products. In response, luxury brands may offer discounts or adjust their pricing to appeal to budget-conscious consumers.

Counterfeiting and Brand Dilution: Counterfeit products pose a significant threat to high-end fashion brands, undermining their exclusivity and brand integrity. Lower-priced knockoffs can dilute the perceived value of authentic products and impact pricing strategies. Example: Louis Vuitton faces ongoing challenges with counterfeit handbags flooding the market. Despite efforts to combat counterfeiting, the availability of cheap knockoffs can make consumers hesitant to pay premium prices for genuine Louis Vuitton products.

Figure 7: Luxury Brands' Online Popularity Change from 2022 to 2023

Trends in Fashion System Highlights:

The following developing issues are highlighted in McKinsey's 2024 report and will be high on the agendas of the fashion system's leaders.

Generative AI: More application cases are appearing in the sector following 2023, the year that generative AI (gen AI) made its breakthrough. Fashion players will need to look past automation to realize profit, and investigate how Gen AI may improve the job of human creatives.

Fast fashion's manipulation: The rivalry in the fast-fashion industry is expected to intensify. Rivals, spearheaded by Shein and Temu, are introducing novel strategies concerning cost, client satisfaction, and velocity. Navigating the regulatory agenda while adjusting to changing customer demands may be the difference between disruptors and incumbents in terms of success.

Every eye is on the brand: It is anticipated that brand marketing will regain prominence when the fashion sector successfully moves away from performance marketing. As marketers rewrite playbooks to emphasize long-term brand creation, brands may profit from developing emotional ties with consumers.

Sustainability is paramount: The days of self-regulation in the fashion business are coming to an end. New regulations will have a big impact on consumers and fashion industry operators everywhere. Manufacturers and brands might think about updating their business models to reflect the upcoming changes.

Bullwhip retaliates: The "bullwhip effect," which causes order volatility to echo unpredictably through supply chains, has been brought about by changes in customer demand. As brands and retailers prioritize openness and strategic collaborations, suppliers are expected to experience more pressure.

Conclusion:

The shifting production costs, fiercer competition, and changing consumer tastes provide serious pricing issues for the US high-end fashion market. Industry participants need to use adaptable pricing strategies that strike a balance between exclusivity and accessibility while staying aware of changing market conditions to successfully negotiate these complications.

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RapidPricer helps automate pricing and promotions for retailers. The company has capabilities in retail pricing, artificial intelligence and deep learning to compute merchandising actions for real-time execution in a retail environment.

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Revolutionizing Fashion Retail Strategies: AI Pricing Analytics Unveiled

Originally Published on: SpendEdge |AI Pricing Analytics: Revolutionizing Business Strategies

Mastering the Fast-Paced Fashion Landscape with AI

In the high-stakes arena of B2B fashion e-commerce, the linchpin of success lies in effective revenue management. The game-changer? AI Pricing Analytics. This transformative tool is reshaping the strategies of fashion designers and retailers, offering critical insights to navigate the complex world of pricing dynamics and trade promotions. In a market dominated by cost-based and dynamic pricing models, as well as dynamic pricing software, AI Pricing Analytics is empowering the industry to combat challenges, predict trends through machine learning, and achieve market dominance. Discover how this technology is driving intelligent pricing decisions and optimizing profitability in the fashion sector.

Challenges Overcome: AI-Driven Solutions for Fashion Retail Triumph

Navigating the Competitive Landscape with AI-Driven Insights

In the realm of high competition and ever-evolving consumer preferences, a prominent Spanish fashion designer encountered obstacles while launching a new design line. Facing issues like transportation bottlenecks, inaccurate pricing, and tracking competitors' strategies, Quantzig's tailored AI Pricing Analytics solution proved instrumental. It delved into competitors' tactics, crafting an effective pricing strategy for the new design launch.

Implementing Quantzig’s AI Pricing Analytics Solutions

Our AI-driven pricing analytics solution provided a 360° view of competitors' assortments, promotions, and pricing methods. The innovative algorithm merged client pricing with marketing and sales data, offering a nuanced understanding of consumer preferences based on demographics. This empowered the client to implement a robust pricing analytics model, optimizing product prices and timings, ultimately boosting profitability.

Outcomes and Benefits: A Transformative Impact of AI Pricing Analytics

The implementation of AI Pricing Analytics resulted in significant outcomes:

Enhanced Sales Margins: A remarkable improvement from 4% to 13% in sales margins.

Global Sales and Standardized Discounts: Notable increases of 37% in global sales and a 13.0% improvement in standardized discounts.

Competitive Product Pricing: Adoption of competitive pricing strategies leading to the creation of new opportunities.

Innovative Design Development: Insights from AI Pricing Analytics facilitated the development of new fashion designs aligned with market trends.

Effective Marketing Plans: The solution enabled the development of robust marketing strategies, improving retail pricing transparency by 21%.

AI Pricing Analytics in the Fashion Industry: A Holistic Transformation

Revolutionizing Fashion Retail with Data-Driven Pricing Strategies

In the dynamic fashion industry, staying ahead in a market where pricing and promotions are crucial for competitiveness is paramount. AI Pricing Analytics, leveraging machine learning and data analysis, has become indispensable for fashion retailers. It enables them to adapt to market trends and competitive intelligence effectively, transforming the way pricing strategies are formulated and executed.

Addressing the Pitfalls of Discount Pricing with AI Insights

AI Pricing Analytics counters historical reliance on discount pricing by providing predictive modeling and optimization techniques for more strategic pricing decisions. By understanding and analyzing pricing trends and competitor pricing strategies, AI helps fashion retailers move beyond counterproductive discounting, focusing instead on value-based pricing that enhances profitability and market presence.

Leveraging Competitive Intelligence and Demand Forecasting for Optimal Pricing

AI Pricing Analytics equips retailers with comprehensive competitive intelligence, understanding rivals' pricing models and adopting suitable pricing strategies. Combined with demand forecasting and pricing optimization, it ensures products are priced optimally, balancing customer willingness to pay with market dynamics.

Transforming Marketing Expenditure and Enhancing Market Position

AI Pricing Analytics leads to significant improvements in marketing expenditure, allowing retailers to allocate budgets more effectively and increase margins. It also plays a vital role in tracking competitor pricing, shifting consumer preferences based on informed discount pricing, and staying ahead of the competition.

Key Outcomes of AI Pricing Analytics Implementation in Fashion Retail

Transformative Impact on Pricing, Marketing, and Sales

The deployment of AI Pricing Analytics reshaped the approach to pricing and marketing in the highly competitive fashion industry. Benefits included enhanced understanding of rivals' pricing strategies, optimized product pricing, improved discount standardization, reduction in marketing costs, development of effective fashion design and merchandising plans, and increased retail pricing transparency.

Conclusion: Embracing the AI-Powered Future of Fashion Retail

AI Pricing Analytics as a Catalyst for Sustainable Profitability and Market Growth

In the ever-evolving world of fashion retail, AI Pricing Analytics is a game-changer, enabling companies to navigate pricing and promotions with unprecedented precision. By considering factors like consumer behavior, strategies, and amounts involved, brands move beyond reactive discount strategies to proactive, data-driven pricing models.

Looking Forward: AI-Powered Future of Fashion Retail

As the fashion industry continues to evolve, AI Pricing Analytics will play a critical role in shaping successful business strategies. Its ability to provide insights into market dynamics, competitor strategies, and optimal pricing points makes it indispensable for any fashion brand looking to thrive in today's digital marketplace.

FAQs on AI Pricing Analytics in Fashion Retail

What is AI Pricing Analytics?

AI Pricing Analytics refers to the application of artificial intelligence technology to analyze market trends, competitor pricing, and consumer behavior to optimize pricing strategies in real time.

How does AI Pricing Analytics benefit fashion retailers?

It enables retailers to make data-driven pricing decisions, understand competitors' pricing strategies, optimize discounts, and improve overall profitability and market competitiveness.

Can AI Pricing Analytics predict future fashion trends?

Yes, AI Pricing Analytics uses predictive modeling and machine learning algorithms to analyze historical data and market signals, helping predict future fashion trends and consumer preferences.

Is AI Pricing Analytics suitable for all types of fashion retailers?

AI Pricing Analytics can be tailored to suit various types of fashion retailers, from luxury brands to fast fashion, enhancing their ability to price products effectively in diverse market segments.

How does AI Pricing Analytics improve customer satisfaction?

By providing personalized and optimal pricing, AI Pricing Analytics enhances the shopping experience, leading to increased customer satisfaction and loyalty.

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Shein Returns to India with Reliance Retail Partnership

Shein, the world's largest fast fashion retailer, is returning to India after a two-year absence. The company will be partnering with Reliance Retail, India's largest retailer, to bring its affordable and trendy clothing to the Indian market. The partnership is a major coup for Reliance Retail, which has been looking to expand its online presence. Shein is one of the most popular online retailers in the world, with over 100 million active users. The partnership is expected to help Reliance Retail tap into Shein's large and growing customer base. The return of Shein to India is also a positive development for the Indian fashion industry. Shein's affordable prices and trendy designs are likely to appeal to Indian consumers, who are increasingly looking for stylish and affordable clothing. The partnership is expected to boost the Indian fashion industry and create new jobs. The partnership between Shein and Reliance Retail is a major development in the Indian e-commerce market. The partnership is expected to help both companies grow their businesses and reach a wider audience. It is also a positive development for the Indian fashion industry, which is likely to benefit from Shein's affordable prices and trendy designs. Here are some of the key benefits of the partnership for both Shein and Reliance Retail: - Shein will gain access to Reliance Retail's vast distribution network and customer base in India. - Reliance Retail will gain access to Shein's popular brand and affordable prices. - The partnership will help both companies grow their businesses and reach a wider audience. - The partnership is a positive development for the Indian fashion industry, which is likely to benefit from Shein's affordable prices and trendy designs. The partnership between Shein and Reliance Retail is a major step forward for both companies. It is a sign of the growing importance of the Indian e-commerce market and the potential of the Indian fashion industry.   Tags: reliance,Shein India,fashion industry,reliance retail,shein reliance retail,mukesh ambani Read the full article

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Which size recommendation solution is best for your fashion store?

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