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We present a risk-averse multi-dimensional newsvendor model for a class of products whose demands are strongly correlated and subject to fashion trends that are not fully understood at the time when orders are placed. The demand distribution is known to be multimodal in the sense that there are spatially separated clusters of probability mass but otherwise lacks a complete description. We assume that the newsvendor hedges against distributional ambiguity by minimizing the worstcase risk of thedoi:10.1007/s10107-014-0776-y fatcat:pqjlhtwj4ffbfbw5bbuqwinufa