Fashion
Hugo Boss is launching a new five-year plan, aiming to double its turnover by 2025. The German fashion house wants to attract younger people and is revamping its stores.
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Vietnam has knocked Bangladesh off second place in the international ranking of clothing exporters. While both countries saw their export figures decline due to the coronavirus crisis, the decline in Bangladesh was much steeper.
Today, Zalando is launching in three additional markets: Croatia, Estonia, and Latvia. Moreover, the company is expanding its partnership programme into six new markets.
In the second quarter, German sportswear brand Puma saw its turnover and profitability rise sharply. All regions and product divisions contributed to the strong growth.
French luxury house Kering has had an excellent second quarter: compared to last year, sales rose by as much as 95 %. Compared to pre-pandemic 2019, there was still a growth of 11 %. The Italian fashion house Gucci performed particularly strongly.
Spanish fashion chain Mango expects to exceed its pre-pandemic 2019 sales this year, as its half-year figures easily defeated analysts' expectations.
For LVMH, the Covid-19 pandemic seems truly over: the French luxury group sold more Louis Vuitton handbags and Moët champagne in the second quarter and is now on track to significantly exceed its pre-pandemic sales.
After a very difficult 2020 due to Covid, things are looking up for the Italian fashion house Armani. In the meantime, rumours regarding a possible sale are increasing again.
Online fashion platform About You continues to grow, according to its first quarterly report since the company went public last month. Turnover went up by two thirds, as its customer base expanded.
Former fashion empire FNG, owner of Scandinavian e-commerce platform Ellos, is forced to convene an interim general meeting, but stresses that the announced relaunch is not in jeopardy.
French luxury group LVMH is acquiring a 60% stake in Off-White, the label of designer Virgil Abloh who has been responsible for Louis Vuitton's men's collections since 2018.
Through investment company L Catterton, Bernard Arnault's luxury group LVMH is acquiring a majority stake in Milan-based fashion house Etro.
Even though some corona restrictions are still in place, luxury label Burberry's sales are back to pre-pandemic levels.
Fashion chain C&A is launching a new, more ambitious sustainability target for 2028. The key points: more sustainable sourcing, extending the lifespan of products and reducing single-use plastic.
Hugo Boss was able to double its quarterly turnover as shoppers return to stores in droves now that corona measures are easing just about everywhere. The fashion retailer sees its sales climb to almost the level of 2019.
Campari and LVMH subsidiary Moët Hennessy are joining forces online: the beverage producers are forming a joint venture, with which they will invest in e-commerce.
