Primark has signed up to the United Nations Fashion Charter (UNFCCC). The budget fashion chain is committed to reducing greenhouse gas emissions across its entire value chain by 30% by 2030.
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Tiffany & Co and LVMH have reached an agreement after all: the takeover goes ahead, but for the reduced price of 131.50 dollar per share. That results in a discount of around 400 million dollar.
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LVMH and Tiffany & Co are reportedly discussing a "discount" on the planned 16.2 billion euro acquisition. Tiffany wants LVMH to keep its purchase promise, but the French luxury house regrets the expensive deal.
Fashion brand Sonia Rykiel rises from its ashes: after the bankruptcy last year, two co-founders of Showroomprivé ensure a relaunch online. Physical stores will follow later.
LVMH may acquire Tiffany & Co, says the European competition watchdog. Remarkably the green light is not welcome at all this time, as the Vuitton mother looks for a way out of the deal.
Vinted, Europe's largest online marketplace for second-hand fashion goods, acquires its Dutch competitor United Wardrobe. The acquisition strengthens the company's European market leadership.
Zalando brings together eight international brands in a "more sustainable" capsule collection, consisting of 116 garments for the autumn season, as much as possible with environmentally friendly materials, such as organic cotton and lyocell.
Several sources report that German sports goods giant Adidas is considering a sale of its sister brand Reebok. That brand was severely hit by the corona crisis.
(update) Gap plans to leave Europe: the American clothing chain announces the possible closure of all its stores on the European continent. Nearly 120 stores are affected by the decision.
From now on, Ace & Tate will offer recycled glasses on second-hand platform Depop. It is the first optics chain to start working with the app, giving old frames a second life.
Investigations into bankrupt fashion group FNG are now also leading to the Netherlands: over the years, the retailer has channelled 110 million euros to a dubious fund, without any explanation.
At the Delvaux head office, a well-known dilemma in the luxury sector flares up: are discounts and platforms an option, or should exclusivity take precedence? The quarrel even threatens to lead to a reorganisation.
Zalando acquires a Swiss developer of mobile body scanning technology. The startup, Fision from Zurich, should allow both shoppers and brands to determine clothing sizes more precisely and reduce the number of returns.
LVMH sold more handbags and leather goods in the third quarter, although there was still a sharp decline in the duty-free and cosmetics segments. The luxury holding company sees "encouraging signs of recovery".
The Bestseller group, known from brands as Only, Vila and more, is setting up a 'Fashion FWD Lab' to develop sustainable initiatives and materials. The company is working on leather from fruit waste and circular textiles.
Uniqlo remains determined to overtake Zara. Although parent company Fast Retailing saw profits plummet by 44% in the past financial year and sales fall by 12.3%, the Japanese clothing giant is already expecting a strong recovery next year.