Fashion
A.S. Adventure, which owns Cotswold in the UK and Bever in The Netherlands, is in negotiations about a debt rescheduling. The outdoor chain is dragging a heavy debt and has got into even bigger problems because of corona.
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The corona pandemic has crushed luxury goods sales: the European market is shrinking by 36 per cent this year, for the first time since the banking crisis. Bain's analysts aren't counting on a full recovery before 2022/2023.
For the first time, Zalando has presented a diversity and inclusivity report which offers an insight into the company's efforts and commitments on the subject. From now on, the fashion platform aims to publish this report annually.
Monki revealed a capsule collection made using Green Machine technology. The machine can fully separate cotton from polyester blends and recycle them on a large scale.
Hunkemöller may change owner: investor group Carlyle is attempting to sell the lingerie chain. The timing is unfortunate as demand is falling sharply due to the corona crisis.
Beeline Group has reached an agreement with Australian jewellery specialist Lovisa on the sale of part of its European store network under the SIX and I AM brands.
Yesterday, Prince Charles' charity, The Prince's Foundation, in collaboration with online fashion shop Yoox Net-a-Porter, presented a capsule collection. It is inspired by the work of Leonardo Da Vinci and emphasises sustainability.
Despite a declining turnover, Burberry wants to offer fewer discounts in the near future. The luxury retailer is determined to guard its brand image as the company is attracting new customers in China, South Korea and the United States.
Le Printemps, the famous French chain of department stores, is also a victim of coronavirus. Four branches in France are closing, as are three branches of daughter chain Citadium.
Thanks to strong online growth, Adidas was able to limit the loss of sales to 7% in the third quarter. Exchange rate effects weighed heavily on the results. Concerning its fourth quarter, the company remains very cautious.
VF Corporation, parent company of, among others, Kipling and The North Face, acquires the exclusive fashion brand Supreme for 2.1 billion dollar (1.8 billion euro). The acquisition should give a new boost to the company’s e-commerce turnover.
Luxury platform Farfetch welcomes two strategically important shareholders: Alibaba and Richemont together invest 1.1 billion dollar in the company. It is a first step towards consolidation in the online luxury industry.
Online platform About You is experimenting with the sale of second-hand clothing: the Zalando competitor offers around 30,000 second-hand items in its German web shop.
No one knows how they will pronounce it, but from now on French consumers can also shop online at De Bijenkorf. Following the launch of a French-speaking Belgian webshop, the department store chain is now attacking France.
It was an exceptional third quarter for Zalando: the online clothing retailer saw sales rise with 29.9%. The platform aims to digitise more physical merchants. Also in Belgium, where fashion chain LolaLiza joins as a new partner.
Primark saw its turnover and profits fall sharply in the last financial year. The corona crisis, and more specifically the first lockdown in the spring, weighed heavily on the results of the fashion retailer who does not have a web shop.
