Fashion
Dutch fashion chain CoolCat is filing for bankruptcy: its eighty Dutch stores and their 1,100 jobs are in jeopardy after the hot summer and warm winter pushed down sales. Stores in Belgium, France and Luxembourg are not involved in the bankruptcy.
» Read more
German fashion web shop Zalando will be integrating its private labels into the rest of the platform. The idea is for these labels to compete less with external brands. For that reason, the separate private label division will be terminated, which may result in jobs being cut.
Flash sales site Showroomprivé saw its losses decrease 17 % and turnover rise by 2 % in 2018, after a strong performance on its French home market.
Inditex, the holding company of Zara, Massimo Dutti and Pull&Bear, has seen both its turnover and profit rise in 2018, as online sales went up and investments in technology were fruitful.
The exploitation of textile workers is not limited to Bangladesh: even in Europe, there are testimonies about gruelling working conditions and paltry wages. Macedonia is a particularly sad case.
Victoria’s Secret may soon be cut off from its partner: one of the shareholders of parent company L Brands has requested the separation of Victoria's Secret from sister brand Bath & Body Works, as the latter performs much better.
American shoe chain Foot Locker has seen its turnover rise 2 % to a record of almost 7 billion euros in 2018, which is more than analysts had expected. The biggest turnover growth was in existing stores, but still the chain has decided to close 165 stores this year.
German e-tailer Zalando has decided to expand its management board with a Chief Financial Officer and a Chief Technology Officer. At the same time, it will redefine the job descriptions for its three co-CEOs.
Belgian fashion chain ZEB has announced a venture into a new market segment: with 'Zeb for Stars' the multi-brand retailer wants to expand into children's fashion and sees possibilities for up to twenty stores. .
Costs keep accumulating at Belgian lingerie group Van de Velde, but the company will just have to see it through, says to CEO Marleen Vaesen. She is adamant digitisation is necessary and will prove fruitful.
In the first half of its financial year 2018-2019, fashion chain Esprit once more saw its turnover decrease and its losses accumulate. The company will keep cutting costs, hoping to break even again within two to three years.
American shoe giant Payless has announced a major reorganisation: all 2,500 stores in the United States and Canada will be closed. Outlets in other countries will remain open.
A number of British members of parliament have suggested charging a tax of 1 penny (1.1 eurocent) per clothing item, to discourage the negative effects of fast fashion. The revenue would be used to create better systems for collection and recycling.
Fashion designer Karl Lagerfeld has passed away, aged 85. The creative director of the French fashion icon Chanel had been ill for a while. Chanel meanwhile wasted no time appointing a successor.
The popularity of vegan or plant-based products is growing fast in retail: research from the UK indicates that the number vegan products in webshops increased by more than 75 % last year, while over half of all newly launched cosmetics products are purposefully plant-based and animal-friendly.
Human Rights Watch appeals to the fashion industry to counter sexual intimidation of women in clothing factories in Asia, after a release of a report that paints a horrible picture of working conditions.
