Fashion
Spanish fashion giant Inditex reached a new record turnover in the first half of 2018, breaking the 12 billion euro limit for the first time. Profit too rose to a record high, but estimates for the second half of the year differ greatly.
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German discounter Lidl managed to grab the attention at the Amsterdam Fashion Week, where former top model Heidi Klum presented her fifth collection for the discounter. However, it was rather with the socks that Lidl put in the goodie bags that the retailer got all the attention.
Belgian lingerie producer Van de Velde sees its financial director Bart Rabaey leave the company after a series of struggling quarters. Meanwhile, the manufacturer of Prima Donna and Marie-Jo did get approval to work weekends and nights.
Swiss luxury goods producer Richemont has appointed Jérôme Lambert as its CEO, not even two years after the position was abolished to give each brand its own boss.
British fashion brand Burberry has pledged to stop destroying clothes that were not sold, and - at the same time - also stop using fur. Contemporary luxury must be socially and ecologically responsible, they say.
Blabla Belgium, a new Belgian label with humorous slogans in French, has expressed plans to be present in physical stores and even expand abroad, after the successful start of their online store.
Spanish fashion group Inditex wants to sell all of its brands in every country in the world by 2020, even in countries where Zara's owner has no physical stores.
Profit at lingerie company Van de Velde went down by 25 % in the first half of the year. The company fears that improvement is not to be expected soon and warns of a "very sharp drop in profits".
Lingerie icon Victoria's Secret is to close 20 stores this year: the tide is turning for the lingerie brand, which is under huge pressure from competitors.
Uterqüe, a subsidiary of Spanish fashion group Inditex, has started its own shop on Chinese e-commerce platform Tmall. The accessory and fashion label also wants to open physical stores in China later on.
Fashion group Urban Outfitters has achieved a record quarter: the 13,7 % increase in turnover to 992 million dollar (about 850 million euro) was unprecedented and easily exceeded analysts' expectations.
The investment group behind the Danish fashion group Bestseller, Heartland, has taken a 29 % stake in German e-commerce platform About You in a recent capital round, which raised About You about 300 million dollars.
Roland Kahn can be relieved after a few hard years: his fashion chains MS Mode and America Today are profitable again, while CoolCat halves its losses. Furthermore, important news would be on its way.
Outlet stores are becoming more important in Zalando's business model: two new stores are to open this summer, with many more to come.
French kids fashion chain Tape à l’oeil has opened its first store in the centre of Brussels, that should build brand awareness among Dutch speaking Belgians.
Spanish fashion chain Mango has seen its turnover drop due to adverse weather last fiscal year, but sees reasons for optimism in a decreased loss and in online growth.
