Fashion
UK: online retail growth in freefall in May
The growth of online retail sales fell by 8.7% year-on-year in May in the UK, despite being measured against a negative performance in May 2021 (-6%), as reported by the latest IMRG Capgemini Online Retail Index, which tracks online sales for 200 retailers
Kohl’s in talks to be bought by Franchise Group
The American-based department store chain has entered into exclusive negotiations with Franchise Group for a period of three weeks. Franchise proposed to acquire the retail chain for 60 US dollars per share
ASOS appoints new CEO as it warns on profit
The fashion retailer named José Antonio Ramos to the role of CEO and announced that Jgøren Lindemann will become Chair. The company also said that will be expecting lower profits this year
Farfetch to accept cryptocurrency payments
The luxury e-tailer will enable cryptocurrency payments for private clients on its marketplace in the coming months and then expand to all customers in the US, the UK, and Europe from late 2022
Allbirds expands distribution to Nordstrom
Nordstrom customers can now shop men's and women's Allbirds styles at 14 select stores.Later this year, Allbirds will expand their selection, which will be available to shop on Nordstrom.com, at Center Stage in New York City and in more Nordstrom stores
Inditex reports revenue growth
The fashion group posted revenue growth of 36% in the first quarter of 2022, year-over-year, driven by the recovery of in-store footfall and the success of its brands’ collections
Capri Holdings supports creation of the Versace Foundation
The company has guaranteed 10 million US dollars for the new foundation. The aim of the initiative is to support equality, wellness and safety for the LGBTQIA+ community
Capri with revenue and earnings increase
The luxury fashion group reported that revenue and earnings for the full year of 2022 exceeded expectations. Total revenue amounted to 5.65 billion US dollars
Tapestry cuts outlook for 2022
Despite reporting a strong third quarter, the owner of Coach, Kate Spade and Stuart Weitzman, lowered its full year outlook, due to pressures related to the resurgence of COVID-19 in Mainland China
Kering invests in Lab-Grown Leather Startup
The French-based luxury group participated in a 46 million USD funding round meant to fast-track the commercialization of the Californian-based VitroLabs’ cell-cultivated leather
Zalando posts sales decline
Amid a volatile market environment, the online retailer informed that revenue declined by 1.5% in the first quarter of 2022, as compared to the same period last year, totalling 2.2 billion euros
Kering and the French Ministry of Labour join forces for integration
The group and the French Ministry of Labour, Employment and Integration signed a charter for supporting young people, vulnerable individuals and people with disabilities in the job market
Licence for Greenwash: false promise for certification continues
The report Licence for Greenwash shows that a majority of sustainability certification schemes fail to meet their promise and represent, at best, a sophisticated form of greenwashing
Steve Madden raises 2022 guidance
The New York-based designer and marketer of footwear, accessories and apparel for women, men and children reported record revenue of 559.7 million US dollars in the first quarter of 2022
Kering reports solid performance
The French-based luxury group posted solid growth in the first quarter of 2022. However, COVID-19 restrictions in China since March have weighed down on results, especially Gucci’s-
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