Fashion
Zalando's EBIT up by 87% in the second quarter
The German-based online retailer posted an 87% increase in EBIT in the second quarter of the current year from the same period in 2022, despite a slight decline in GMV and revenue
Gap appoints new Chief Executive Officer
The owner of Old Navy, Gap, Banana Republic and Athleta brands has appointed Richard Dickson as its President and Chief Executive Officer (CEO), effective from the 22nd of August
Primark lowers prices across selected ranges of kidswear essentials
The fashion retailer has announced that it will lower prices on essential children’s items from the end of July to help British families cope with the ongoing high inflation
Strong first half for LVMH
The luxury group posted a 15% revenue growth and a 30% net profit rise in the first half of 2023, as compared to the same period of 2022, driven by a strong performance in Asia and Europe
Uniqlo's parent company posts revenue growth
The Japanese-based company posted a 21.4% increase in revenue from September 2022 to May 2023, as compared to the same period of last year, highlighting the performance of Uniqlo abroad in the third quarter
Mango invests in virtual avatar creation start-up
The Spanish-based fashion retailer has announced that it is investing in Union Avatars, a digital identity platform that enables the development of avatars in different styles
Global alliance calls for the digital modernisation of labelling requirements
A coalition of 130 organizations representing the fashion industry from around the world is pushing for the modernisation of labelling requirements to enable a reduction in waste and greater consumer access to information
Gabriela Hearst leaves Chloé
The Richemont-owned luxury fashion house has confirmed that its creative director, Gabriela Hearst, will step down later this year. No reference was made to the creative succession plan
H&M announces first half results
The Sweden-based company saw its sales increase in the first half of fiscal 2023, but underlined the negative impacts of high raw materials and freight costs combined with a strong US dollar on results
Ted Baker cuts 200 jobs
Ted Baker has cut around 200 jobs in its head office workforce. This move comes as the company transitions to an outsourcing model following its acquisition by Authentic Brands Group (ABG)
Report calls for actions across the whole supply chain to help reduce negative environmental impacts
According to a report by the non-profit financial think tank Planet Tracker, retailers and fashion brands have limited direct control of most negative environmental impacts in the textile industry
UK Retail: a too-long string of ifs damps the mood
Consumer confidence in the UK has yet to take off to somehow improve retailers’ mood in the textile and footwear sectors. Rising wages, falling energy bills and even slightly lower inflation may help brighten the atmosphere, but the uncertainty surrounding all of these factors doesn’t help retail much at present. For now, except for sticking to their previous conservative import decisions and watching closely for upcoming changes in consumption patterns, there’s little to be done
Pitti Uomo with a positive turnout
The Florence trade show focused on men's fashion proposals closed with positive turnout figures. Out of the 11 900 buyers who attended Pitti, 43% were foreign, with a strong return of Asia
H&M releases second quarter sales development
The Sweden-based fast fashion company has reported that net sales in local currencies in the second quarter of fiscal 2023 were “flattish”, as compared to the same quarter of last year
Samuel Ross reimagines Timberland's boot
Samuel Ross, the founder of A-Cold-Wall, has collaborated on Timberland's latest Future73 capsule collection, which invites designers to reimagine its iconic boot on the occasion of the brand's 50th anniversary-
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