Fashion
Maison Martin Margiela is the next victim in a long line of fashion retailers to admit defeat against a combination of high rents and changing customers. Its Brussels store said turnover fell by 50 % since 2011, making the high rents untenable.
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Sports brand Nike has launched a subscription for kids' sneakers in the United States, trying to increase convenience for parents... but it is also an attempt to secure some market share.
Belgian restructuring specialist Stefaan Vansteenkiste is promoted to CEO at Debenhams, in an attempt to save the British department store chain from bankruptcy.
Capri Holdings, the owner of brands like Michael Kors, Versace and Jimmy Choo, has performed better than analysts had expected in the last quarter. However, the required investments cut a great deal out of the profit.
Belgian shoe store chain Schoenen Torfs has seen its profits more than halved, due to the success of its web shop. Turnover went up, but costs soared.
The Benelux plays a key role in the expansion plans of Swedish fashion platform NA-KD. The three-year-old scale-up has a strong focus on influencer marketing and is already supplying in 125 countries.
Hugo Boss has performed slightly below expectations in its second quarter: sales were disappointing, especially in the United States.
Zalando has increased its forecast for the full year 2019 after it had an excellent second quarter, in which turnover went up 20 % to 1.6 billion euros.
Spain could potentially house 250 Zeeman stores. Its 43 outlets are performing remarkably well and new ones are being opened in quick succession.
Preliminary yearly results for Sports Direct indicate that the integration of House of Fraser is weighing heavily on the group. The company may also have to pay 674 million euros to the Belgian tax authorities.
Luxury brand Armani needs to bite the bullet in order to emerge stronger next year. That is what founder Giorgio Armani believes, seeing turnover drop and profits go down by more than half after restructurings.
River Island is launching Harpenne, a new fashion label that targets an older age range. The label will become available online in September and intends to "lend a voice to the forgotten consumer".
French fashion house Sonia Rykiel is bankrupt. Now that the search for an acquirer has failed, the 1968 fashion brand is left with 30 million euros of loss and declining sales.
LVMH, the luxury concern behind Louis Vuitton, Dior and others, has had a fantastic start to the year. The French group increased its turnover by 15% and operational profit saw double-digit growth.
Soon, shoppers at H&M stores will no longer have to pay right away: they can wait for up to two weeks after the purchase. The trend, which comes from the e-commerce world, looks set to conquer physical retail as well.
Inditex, parent company of Zara, Bershka and others, intends to be using purely sustainable fabric for its clothing by 2025. The move is part of a wider strategy focusing on sustainability and digital transformation.
