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Old 1st April 2019   #1
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Tabitha Simmons and Virgil Abloh are among the nominees for the Council of Fashion Designers of America (CFDA) Awards , which will be held in New York at Brooklyn Museum on June 3.Simmons, who was named FNAA's Designer of the Year in 2018, and Abloh (for Off-White), whose Air Jordan "The Ten" collaboration won 2017's Shoe of the Year, received nods in the Accessory Designer of the Year category.The designers are in good company. Jennifer Fisher for Jennifer Fisher Jewelry, Telfar Clemens for Telfar, and Ashley Olsen and Mary-Kate Olsen for The Row, are also in the running for the award.“The CFDA Fashion Awards celebrate the outstanding creativity in American fashion,” CFDA president and CEO Steven Kolb said. “There will be exciting changes to this year’s awards, and we are honored to have Valentino and Giancarlo Giammetti join us as we name the International Award.”Below, the full list of honorees and nominated designers.Womenswear Designer of the Year: Brandon Maxwell, Marc Jacobs, Kate Mulleavy and Laura Mulleavy for Rodarte Cheap Nike Flywire , Rosie Assoulin, and Sander Lak for Sies Marjan.Menswear Designer of the Year: Mike Amiri for Amiri, Virgil Abloh for Off-White,Kerby Jean-Raymond for Pyer Moss, Rick Owens, and Thom Browne for Thom Browne New York.Emerging Designer of the Year: Emily Adams Bode for Bode, Beth Bugdaycay for Foundrae, Heron Preston, Catherine Holstein for Khaite, and Sarah Staudinger and George Augustofor Staud.The Valentino Garavani and Giancarlo Giammetti International Award: Sarah Burton for Alexander McQueen.The Founder’s Award: Carine Roitfeld.The Media Award: Lynn Yaeger.The Positive Change Award: Eileen Fisher.More awards will be announced later.Want more?Industry Moves: Tom Ford Elected New CFDA ChairmanWhy It’s Notable That Supreme Won the 2018 CFDA Menswear Designer of the Year Award PayPal is planning a $750 million investment in MercadoLibre, the dominant e-commerce and fintech player across Latin America.Founded in 1999, just four years after Amazon made its debut, MercadoLibre served 267.4 million users as of 2018 Cheap Nike Free , according to Statista, and moved 150.1 million shipments in 2017 plus another 105.3 million through the first six months of 2018. Its 2017 revenue of $737.5 million represents an increase of 49.8 percent from the previous year.Apparel, one of the top categories on the MercadoLibre marketplace, trails only consumer electronics and grew from 9 percent in 2007 to 18 percent in 2017. Similarly, fashion is the top-selling category on all South American e-commerce, according to Statista, and is expected to account for nearly $10 billion in 2019. The release announcing PayPal’s financing plans said an affiliate of San Francisco-based Dragoneer Investment Group will invest $100 million.The company has also found success in fintech with its MercadoPago payments business unit, which managed 389 million transactions — a 70 percent increase from 2017 — totaling $18 million. It also offers a credit solution, MercardoCredito.MercardoLibre said it will use the new capital to fortify its logistics capabilities, further strengthen e-commerce and seek opportunities to grow its status as “a powerful provider of inclusive end-to-end financial technology and payments solutions.”“The internet is rapidly becoming a driving force that is increasing the pace of modernization in Latin America,” MercadoLibre CFO Pedro Arnt said during a Q2 2018 earnings call. “This modernization presents us with the opportunity to turn a history of underdeveloped infrastructure in the areas of retail and banking from a disadvantage into an advantage, as it allows for innovation to flourish unencumbered by existing legacy players.”PayPal president and CEO Dan Schulman noted the “tremendous growth” in the region’s digital commerce market. “We’ve been impressed with the digital commerce and payments ecosystem [that's been] built,” he said. “We see great opportunities to integrate our respective capabilities to create unique and valuable payment experiences for our combined 500 million customers throughout the region and around the world.”“Through its investments in FinTech Cheap Nike lunarlon , logistics and customer experience, MercadoLibre is solidifying its leading market position in e-commerce and digital payments across Latin America, and we believe we are witnessing a major tipping point in the region,” said Marc Stad, founder and managing partner of Dragoneer Investment Group.MercadoLibre sold 334 million items last year on its 18 country-specific websites, amounting to $12 billion in gross merchandise volume. It claims to be among the world’s top 50 most visited sites by page views and attracts the most unique visitors in countries where it operates.E-commerce revenue for all of South America is expected to approach $33 billion this year, Statista said, with average revenue per user standing at $125.91.Editor’s Note: This story was reported by FN’s sister magazine Sourcing Journal. For more, visit
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