Fashion
Ferragamo's revenue down by 33.5% in 2020
The Italian luxury house reported sales of 916 million euros in fiscal 2020, down by 33.5%. Salvatore Ferragamo announced it had suffered a net loss of 72 million euros in 2020, in an economic context highly affected by the COVID-19 pandemic
H&M sales fall by 21%
In the first quarter of 2021 H&M group’s net sales decreased by 21% in local currencies compared to similar period in the previous fiscal year. The Sweden-based group’s net sales amounted to 40 060 million Swedish Krona in the period
Macy's: sales down by 29% in fiscal 2020
The department store chain announced sales falling to 17.3 billion US dollars in the year ended on the 30th of January 2021. Net loss for the period totaled 3.9 billion US dollars
Inditex: sales down by 28% in 2020
The Spanish-based retail group Inditex also generated profit of 1.1 billion euros in its 2020 financial year, with the figures attributed to a leap in online sales and strong customer engagement
Vestiaire Collective: financing round backed by Kering and Tiger Global Management
The second-hand fashion platform announced the completion of a new 178 million euros financing round, backed by global French luxury group Kering and US investment firm Tiger Global Management
Nordstrom sales drop by 20%
The Seattle-based luxury department store has announced results for the fourth quarter and fiscal year ended on the 30th of January 2021. Annual sales were down by 20%. Digital sales reached 2 billion US dollars and represented 54% of the business
Christian Louboutin sells 24% stake to Ferrari owner
Holding company Exor and Christian Louboutin announced a partnership whereby Exor will invest 541 million euros to become a 24% shareholder in Christian Louboutin, alongside the founders and will nominate 2 of the 7 members of the Company’s Board of Directors
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CHIC Shanghai to start on the 17th of March
Due to new regulations to control the infection rate the fair will take place from the 17th to the 19th of March 2021. Originally, the fair was annnounced to take place from the 10th to the 12th of March
Retail associations merge in Germany
The German retail associations representing apparel (BTE), footwear (BDSE) and leather goods (BLE) have decided to merge to form the BTE Handelsverband Textil, Schuh, Lederwaren (Trade association of textile, shoes and leather goods)
Marita Moreno is in the biggest fashion game in the world
It is one of the most famous virtual fashion games. It's called Covet Fashion and it allows users to create a dream virtual wardrobe and bring some of those pieces to real life
Farfetch reaches profitability
The luxury e-commerce platform has announced revenue in 2020 which increased by 64% to 1.7 billion US dollars, with future sights set on China, after investments and deals made last year
US consumption recovers as spending lifts by 2.4%
The recovery in consumers’ spending registered in January 2021 follows months of cost-cutting in the US. This 2.4% growth was the sharpest in seven months and is taken as a sign that the economy may be placed to nurture a recovery
Tod's closes the year with sales down by 30.4%
In fiscal year 2020, Tod's consolidated sales totaled 637.2 million euros, down by 30.4% from 2019. In the fourth quarter of 2020, sales amounted to 184.5 million euros, down by 22.6%. China is already growing in double digits
Burberry: store sales decline by 9%
The UK-based fashion house has announced third quarter results, marked by decline in retail revenue. Suffering the impact of COVID-19 in its retail network, comparable store sales declined by 9% in the quarter-
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