Fashion | RetailDetail


Dior exchanges Belgian CFO for British one

After eleven years as Dior Homme’s Chief Creative Officer, Belgian Kris Van Assche is to leave the fashion label to find new challenges. British designer Kim Jones will replace him.

Suitcase brand Rimowa cancels all dealer contracts

Suitcase brand Rimowa, part of luxury group LVMH since 2016, has stopped all of its dealer contracts. It wants to initiate a new procedure soon and only a fraction of the current dealers will get a new contract.

H&M disappoints once again

Swedish fashion chain Hennes & Mauritz had to present less than favourable results for its new fiscal year: investor trust has dwindled, now that sales in its home territory have also dropped for the first time in decades.

Bureau of Competition approves Yoox Net-a-Porter bid

The Italian Bureau of Competition has approved Swiss Richemont’s acquisition of Italian fashion webshop Yoox Net-a-Porter. The full bid, yet to be accepted, values the company at 2.7 billion euro.

Donatella Versace stops using fur

Italian fashion brand Versace will no longer use fur: designer Donatella Versace no longer wants to kill animals for fashion, she explained in an interview with The Economist.

"Best year ever" for Danish shoe brand Ecco

Ecco can look back on 2017 as its best financial year ever. The Danish shoe brand, known for its “follow the foot” philosophy, exceeded its own expectations thanks to an 8 % growth.

Strong 2017 for Adidas

German sports brand Adidas achieved a 16 % turnover increase in 2017, if exchange rates had remained stable. Profit nearly grew a third and the company forecast a 10 % growth for 2018.

Strong growth for Inditex thanks to online turnover surge

Inditex, which owns fashion chains Zara and Massimo Dutti, managed decent growth in the past year, despite a strong euro. Its online clothing sales performed very well.

Zara targets young customers with augmented reality

Spanish fashion chain Zara, part of Inditex, will experiment with augmented reality in its windows, starting in April. The goal is to attract mainly younger customers to its stores again.

Prada has high expectations for 2018, despite lower turnover

Fashion company Prada saw its turnover drop by 3.6 % in 2017. However, its forecast for the current fiscal year is high as last year already ended on a better note.

Hugo Boss restructuring pays off

In the past fiscal year, German fashion brand Hugo Boss managed a 3 % turnover increase. It says its restructuring paid off and it now wants to speed up its growth in 2018.

Mexx celebrates relaunch with small collection

Dutch fashion brand Mexx is to make a return with a small spring and summer collection, available at the brand’s web shop and in several countries with Mexx stores.

Abercrombie will shut down another 60 stores this year

At the presentation of its latest quarterly results, American fashion company Abercrombie & Fitch has indicated it will shut down about sixty stores this year. For each of those, the rental agreement will end this year anyway.

New Look aims to shut down 60 British stores

British fashion chain New Look aims to shut up to sixty stores, possibly eradicating 1,000 jobs, in its home territory. This way, it aims to avoid a possible slide into bankruptcy.

Luxury retailer Yoox Net-A-Porter on course despite profit drop

Online luxury retailer Yoox Net-A-Porter has shown increased sales in the Middle East across 2017, but its profit did suffer. Nevertheless, the fashion retailer believes it will reach its five-year target.

Nike presents new store formula for women

Nike targets women: the shoe manufacturer wants to double down on female “sneakerheads”, fans of sports shoes, hoping to nearly double its turnover with women by 2020.

Givenchy's web shop goes international

Fashion label Givenchy will bring its web shop to other territories aside from France. Consumers from Italy, the Netherlands, Spain and the United Kingdom will now also be able to buy the entire collection and unique items online.

Riccardo Tisci is Burberry's new Chief Creative Officer

Italian Riccardo Tisci (former Givenchy) will succeed Christopher Bailey as Burberry’s Chief Creative Officer. Bailey’s last fashion show for the traditional British brand was presented during  the London Fashion Week.

Minor profit drop for Zalando

German fashion retailer Zalando has raised its turnover by nearly 25 % in the past fiscal year, but it did suffer a profit drop. That was largely due to its home markets, because in the rest of Europe Zalando achieved its first profit. 

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