Fashion
Bestseller, the group behind Vero Moda, Jack & Jones and more, closes its financial year "unexpectedly positive". The decline in turnover was smaller than expected, although profits plummeted rapidly.
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In an H&M branch in Stockholm, customers can have their old clothing transformed into a new item. The recycling machine 'Looop' takes care of the whole process in just a few hours. The project fits in with the retailer's broader sustainability objectives.
Zalando increases its outlook for 2020 after a strong third quarter. The online platform now expects to sell at least a quarter more this year, after a 20% increase in sales in the past quarter.
Zalando now provides brands with their own virtual shop environments, where they can experiment with content marketing and curate their offer. The so-called Brand Homes are supposed to increase the duration and frequency of visits.
Levi's performed better than expected in the previous quarter. This encourages the jeans brand to focus more on its own shops and e-commerce: plans to open new stores are in the making.
Scotch & Soda lends 30 million euros to overcome the damage caused by the corona crisis. As a result of the pandemic, turnover fell by 12% in the past financial year and the Dutch fashion chain fell deep into the red.
Gucci joins forces with the second-hand platform The RealReal. The luxury brand with the big G opens its own webshop, where customers' items get a second (or umpteenth) life.
Kenzo Takada, the founder of fashion brand Kenzo, died from the coronavirus. The colourful designer of Japanese origin died in Paris at the age of 81.
H&M Group is fined a record amount of 35 million euros for violating GDPR rules: the fashion player is alleged to have illegally stored private data on employees in Germany.
H&M plans to close hundreds of stores. The fast-fashion group wants to have 250 fewer stores by the end of next year, even though the retailer believes that the worst of the corona crisis is behind us.
The restructuring and insolvency proceedings at Galeria Karstadt Kaufhof have been completed. The German department store chain has had to shed as many as 4,000 jobs and 40 stores. But will that suffice?
Fashion retailer C&A, which already introduced a new logo and corporate identity, starts working now on a new store concept. In Zurich, the budget chain’s flagship store was the first to receive a makeover.
Boohoo admits that several 'unacceptable' abuses have been discovered in the fashion group's supply chain. This is evident from its own investigations into allegations of slavery.
Digital is the New Normal for Nike. Between June and August, online sales increased 82%, offsetting the continuing decline in physical sales. The trainer brand also saw its profit rise slightly.
Ralph Lauren cuts deeply in its costs and workforce: the American fashion label wants to save up to 200 million dollars by laying off 15% of its employees. That would cost some 3,700 people their jobs.
Did French President Macron himself ask for the takeover deal between LVMH and Tiffany to be blown up? While the rumour mill is running, the legal battle is taking shape: in January, the fate of the fiancées will be settled.
