Dozens of clothing chains have signed the
Clean Clothes charter for Bangladesh, but some of the major brands are missing. Meanwhile a new disaster in Cambodia makes
it painfully clear there still is a lot of work to be done.
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Chinese clothing group Esprit will not succeed
in annually cutting costs of one billion Hong Kong dollar, about a
hundred million euro, by 2015. According to new CEO Jose Manuel Martinez
Gutierrez they are no longer applicable.
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German sportswear group Puma has lowered its
prognoses for sales and profits for the year, because sales in Europe
and Asia leave a lot to be desired. According to company management sales will
be 1% to 5% lower than in 2012 and also the operating profit is under pressure.
British chain of men’s wear Ben Sherman has
appointed Mark Maidment as new CEO, in succession of Tom Chubb. He was CEO
since November 2012 and is leaving to lead parent company Oxford
Three weeks after 1,100 textile workers died
when their workshops collapsed in Bangladesh, H&M, Inditex and C&A have
signed a charter that should drastically improve the security of Bengal textile
Clothing chain Esprit is sending out a profit
warning after disappointing results in the third quarter. A new drop in sales
and provisions for the closing of loss making shops will burden the fashion company
based in Hong Kong with a substantial loss for the current financial year.
German sports goods manufacturer Adidas is
going to offer employees in six factories the possibility to report social abuses via
texting. In the testing stage in one factory, complaints were mainly about restructuring,
working hours and insurance.
Investment fund Permira has lowered its interest in
German fashion label Hugo Boss to 56 percent, after selling 10 percent of
its shares. The next few months no extra shares will be sold.
Italian fashion producer Ermenegildo Zegna saw sales and profit enjoy a double digit growth in 2012: sales went up 12% to 1.26 billion euro (+11.9%), while profit grew even a little faster to
130 million euro. For 2013 Zegna is predicting a more moderate growth, due to
the weakening of sales on the Chinese market.
The collapse of the textile factory in
Savar, in which at least 381 people have died, has once again jumpstarted the
debate about local working conditions. The Irish retail chain Primark was one of the
companies of which clothes were made in the collapsed factory.
Fashion retailer Macintosh Retail
Group is heading towards a big sales drop for this quarter, “the likes of which
I have not yet experienced in my career in the non-food retail sector.”, says
CEO Frank De Moor.
British retail and food concern Associated
British Foods (ABF) had a rise in profits over the past six months of no less
than twenty percent to 496 million pound (over 580 million euro), exceeding analysts'
predictions. Clothing chain Primark was a big contributor to the good results of its parent company.
Italian fashion company Valentino has big plans: a
doubling of the number of stores, a thorough renewal of the eighty existing
stores and an expansion of the accessory line with shoes and bags. 250 million
euro will be invested to realise these ambitious plans.
With its new strategy, Marks & Spencer
wants to re-establish its presence on the European mainland. The opening of the
location in Paris in 2011 was just a start, this week a multichannel store
opened in Amsterdam and a new Dutch online shop also started up.
Swiss fashion group Charles Vögele is closing
all 22 locations in Poland and the Czech Republic as it wants to concentrate on
its core markets Germany, Switzerland and Austria. As a result, some say the company is also
thinking about leaving the Benelux.
French luxury company LVMH had a rise in sales
of 6% to 6.95 billion euro in the first quarter of 2013. That is significantly less than in the same quarter a year ago, when the parent company of Louis
Vuitton succeeded in boosting its sales with no less than 25%.