Fashion
LVMH reports another strong year
The French-based luxury conglomerate highlighted a “remarkable performance” from its Fashion & Leather Goods business group, with organic revenue growth of 13% year-on-year in 2023
Parent company of Uniqlo posts solid performance
Fast Retailing posted a revenue growth of 13.2% in the three months to the start of November 2023, as compared to the same period of 2022, driven by the performance of Uniqlo abroad
Sistema Moda Italia withdraws from Cofindustria Moda
Sistema Moda Italia is no longer part of the Italian Federation of Textiles, Fashion and Accessories (Cofindustria Moda). The need to respond quickly to new European regulations was at the heart of the decision
Mango foresees to achieve record sales in 2023
Amid an expansion of its retail footprint, the Spanish-based fashion retailer foresees ending the fiscal year with sales of more than 3 billion euros, which would represent a double-digit growth over 2022
H&M reports full year net sales growth
Despite the slowdown recorded in the fourth quarter of fiscal 2023, the Sweden-based fashion group reported an annual net sales increase of 6%, as compared to the previous year
Inditex reports strong performance
The owner of Zara continues to perform strongly. In the first nine months of 2023, its sales and profits grew by 11% and 33%, respectively, as compared to the same period of last year
Premium ceases to exist, Seek continues
The trade fair landscape in Berlin has changed, as Premium, which started in 2003, will no longer take place. Only its streetwear counterpart Seek will continue
Zalando lowers full year GMV and revenue guidance
Despite confirming its 2023 profits guidance, the online retailer has lowered its GMV and revenue outlook revenue on the “expectation of continued pressure on demand for the rest of the year”
ReHubs Europe: an initiative to boost textile waste recycling
After three years of preparation, the European body for the textile and clothing industry, Euratex, has officially launched the ReHubs Europe project to increase the recycling of textile waste
German industry association warns of new wave of insolvencies and closures
The German Trade Association for Textiles, Footwear, and Leather Goods (BTE) recalled that repayment of state aid under the pandemic approach, increasing the pressure on an already struggling sector
Inditex signs a three-year agreement to buy recycled polyester for 70 million euros
The owner of Zara, among others, will be collaborating with the material sciences company Ambercycle to help scale a textile made from post-industrial and post-consumer polyester waste
UK Retail: stabilisation of the footwear trade is the best we can hope for at the moment
The bad weather in July and August may not have helped retail over the summer, but it would be ill-advised to believe that’s what it’s all about. Despite some improvements in the general consumer price index, the footwear segment continues to show some resistance to going along with the trend. Inflation will have to continue to fall in order to contribute to sustained sales growth in the future, as most consumers have too much on their plate to spend on non-discretionary items. The only positive sign comes from imports, whose data seems to indicate that at least a stabilisation in retail trade is on the horizon
Nordstrom appoints Chief Human Resources Officer
The Seattle-based department store chain has named Lisa Price as Chief Human Resources Officer. She returns to Nordstrom after serving in the same role at Domino’s Pizza since 2019
Inditex and the International Apparel Federation join forces
The Spanish-based group and the International Apparel Federation have signed an agreement to drive a transformation in the global fashion industry in the fields of circularity, traceability and worker well-being
LVMH’s growth slows in the third quarter
The French-based luxury conglomerate posted an organic revenue growth of 9% in the third quarter, as compared to an organic growth of 17% recorded in the previous quarters of 2023-
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